Digital banking has grown rapidly in recent years, with consumers increasingly demanding to perform more types of banking transactions on their devices. Yet, the tremendous growth is digital applications has led to an increase in fraud attacks. It's time for banks to rethink the customer experience. Discover how to deliver a seamless, secure and engaging customer journey.

When evaluating vendors, it’s important to ask the right questions. Financial institutions, government agencies, and other companies should look for answers that demonstrate that a provider can deliver the functionality required, while also helping to prevent application fraud. This quick checklist provides a list of key questions to ask when evaluating digital identity verification solutions.

In today’s world, banks can no longer rely on branch traffic to generate account openings. However, simply enabling a remote account opening process is not enough. This 2021 Research Report looks at industry trends in account origination, where abandonment occurs, and how to reduce friction with digital identity verification – to help decrease abandonment and increase funding. See how keep pace with digital banks that saw 67% growth in 2020.

The impact of the global pandemic has caused some unexpected changes for the finance, insurance and healthcare industries – rather than grind operations to a halt, it has accelerated digitization efforts. Though face-to-face activity may be restricted, individuals and businesses still need access to loans; homes and automobiles still need to be financed and insured; and healthcare providers need to be verified before they are enrolled in critical systems.

The process a customer goes through when opening a bank account can directly impact long-term customer loyalty, profitability, and retention.

"Better, cheaper, faster." These are the results that banking institutions can receive by shifting security to the cloud. At a time when multi-channel fraud is surging and the customer experience is paramount, cloud needs serious consideration.

A recent report found that over 35% of customers will drop an app or online service if the customer experience is bad. Growing online customers may be one of the biggest challenge financial institutions face in 2021.

Over the last ten years, organizations across industries have been transitioning more IT applications to the cloud. From storage to authentication applications, we have seen growing adoption of cloud and hybrid deployments and the rise of large-scale cloud service providers, such as Microsoft Azure and Amazon Web Services.

These three North American banks migrated from hardware to software authentication. Learn their strategies, challenges, and successes in this mini case study document and learn how your institution can provide a safe, modern experience for your clients.

In this video, industry expert David Vergara discusses how financial institutions can use intelligent adaptive authentication to

Total related cybercrime costs are projected to reach $10.5 trillion by 2025. Download this KuppingerCole Report for an overview of the Fraud Reduction Intelligence Platforms (FRIP) market and gain valuable insight to help evaluate and compare solutions.

The financial sector, state and federal government agencies, as well as consumers are being targeted with various types of fraud, identity theft and data security breaches during the pandemic. One of the biggest threats facing banks and consumers is account takeover (ATO) fraud, which has grown 72 percent since the start of the pandemic, and bigger problems lie ahead.

This white paper explains continuous fraud monitoring and dynamic risk assessment in the context of the top use cases in banking.

Greg Hancell, Manager of Global Consulting at OneSpan, talks about how financial institutions can fight fraud using machine learning. The interview also contains insights on why explainable artificial intelligence is important and how banks can get started with continuous monitoring and contextual authentication.

Finding the best fraud detection and prevention solution for your organization can be challenging. Requirements from internal stakeholders and vendor fact sheets can give an overwhelming impression that your solution needs to have it all and then some. In reality, your choice should simply tick all the boxes on your must-have list and cover your business use cases. It should contain most of the necessary features out-of-the-box, to minimize the need for time- and resource-consuming customizations.

Prior to the onset of COVID-19, mobile apps were already the touchpoint of choice for millions of banking customers worldwide. The pandemic has only amplified this trend toward digital banking on the mobile device. To meet consumer demands and stay competitive, financial institutions, neobanks, and fintech companies are increasingly offering more useful services via the mobile channel in their quest to attract and retain banking customers.

Biometrics Can Help Make Mobile Banking More Convenient and Secure

Last summer, the FBI warned of an increase in malicious activity targeting mobile financial services as mobile banking activity surged in response to COVID-19 and associated lock-downs. That warning came to fruition at the end of December with the discovery of an “evil emulator farm” that mimicked victims’ mobile devices to defraud bank account holders in the U.S. and Europe of millions of dollars.

In June 2020, the FBI warned consumers that an increase in mobile app-based banking Trojan activity was expected as a result of pandemic-driven increases in mobile banking activity — and this warning still applies today. Cybercriminals are now investing more time than ever in attacking the mobile channel. To combat this, banks and FIs need to empower their mobile app developers with effective, efficient tools to apply proactive, client-side security measures.

Trust is an essential component of the mobile banking channel. It seems simple: a bank needs to trust that the person sending a transaction request is a legitimate customer. And vice versa, a customer needs to be sure that the communication they receive on their Android or iOS mobile devices in regard to that transaction, really comes from their bank. But is building trust in the mobile channel really that simple? And what can financial institutions (FIs) do to prevent fraudsters from abusing this trust with malware, account takeovers, identity theft, and other types of fraud?

New digital behaviors in retail banking are here to stay. More and more consumers are turning to digital banking, mobile banking, and new technologies for customer service rather than using traditional in-person channels.

In today's remote world, human interactions are more important than ever. Before signing complex and high value agreements within banking, finance and insurance, customers often turn to channels where they can get human help. Watch this video to learn how OneSpan Sign Virtual Room enables organizations to re-create the power of an in-person meeting, verify the identity of signers, and collect electronic signatures - all in a virtual session.

Remote channels have become the primary method to apply for new accounts, insurance policies, loans, and to get financial advice. But, research shows that consumers turn to channels where they can receive human help for complex financial activities. How can organizations deliver a personal touch in a remote, non-face-to-face world?

We regularly host webcasts on topics such as business digitization, adaptive authentication, and digital identity verification best practices. If you missed our recent webcast, “Extend E-Signatures Beyond Your Initial Use Cases”, here is the 4-minute summary. The full presentation is available on-demand.

Navy Federal Credit Union (NFCU) is the world’s largest credit union serving 10 million members. Membership is open to all Department of Defense and Coast Guard Active Duty, veterans, civilian and contractor personnel, and their families. Faced with new challenges brought on by the pandemic, Navy Federal Business Solutions, which has over 200,000 business members ranging from small startups to established organizations, built upon its existing solutions to help their business members apply for the U.S. Small Business Administration’s (SBA) Paycheck Protection Program.

Learn the most common starting points for e-signatures, plus the top targets for expanding across the enterprise. E-Signatures are being used in all areas of the bank, from customer-facing transactions to B2B and internal processes. As digitization efforts mature, it is becoming common for banks and even non-bank lenders to expand e-signature capability across all channels, lines of business, and more.