Customer experience

Consumer identities are becoming increasingly digital and more prone to privacy risks. Lawmakers cannot sit idle.

Outages last week at Chime and Varo Money have executives on the defensive.

Credit unions have achieved success in areas like auto and consumer loans but there is still room for them to increase their home lending.

Companies are turning off prospective customers and employees with misguided approaches.

Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president.

Some credit unions are experimenting with ambient scenting – adding distinctive but unobtrusive smells – in their branches. While those fragrances are meant to reinforce the institution’s brand, they could also have unintended negative effects.

Though synthetic identity fraud is down across the industry, there's been an uptick in such attacks targeting credit unions.

NatWest is expanding its test of cards that use biometric fingerprints to authorize transactions, citing expanded use cases for contactless payments in the U.K.

Seeking relief from rising synthetic fraud, U.S. companies next year will be able to quickly verify whether Social Security numbers match other consumer data in government files, in a bid to thwart fraudsters from creating fake identities with stolen information and SSNs.

Fincen and others say third parties are proving to be treasure chests for crooks who create synthetic identities, but aggregators argue they help detect risk banks can’t see.