It’s not easy staying safe. If it’s not the 1 billion cyberattacks you’re suffering every year, it’s your members oversharing their biometric data with fraudulent accounts on social media. Fortunately, new technology is picking up some of the slack.
PayPal CEO Offers Sobering View of Cybersecurity Threats
Good news: PayPal isn’t out to take away your interchange revenue and ruin your business. Bad news: CEO Dan Schulman has some scary statistics to share about cybersecurity. Did you know the average financial institution is attacked 1 billion times in a year?
Social Media as an Emerging Source of Cyberthreat
Nearly 20 percent of the social media accounts associated with 10 major global brands are fraudulent. Why does it matter? Your members are busy oversharing on social media, which means fraudsters have no problem obtaining and replicating their voices and face little to no barriers in tricking biometric firewalls.
Preventing Fraud and Saving Costs with Machine Learning
CO-OP has been making the case that machine learning boosts the effectiveness of fraud detection by leaps and bounds. Here’s another, equally compelling angle. While you may not earn revenue by processing data, you probably do spend a large amount of your hard-earned revenue manually processing data, validating it and ultimately performing manual tasks that don’t scale. What if you could change all that?
AI Opens Up High-End Next-Gen Automation
In this short video interview, David Bannister, Principal Analyst, Financial Services Technology, Ovum, explains how AI might enable high-end automation at high volume. Find out more about the killer app for voice processing technology, the cultural hurdles on the path to AI adoption and how AI will work together with IoT and blockchain.
Restaurants Use Pay-at-Table Devices to Catch Up with EMV
The move toward self-service payments in restaurants might do more than improve the dining experience for impatient customers. Because they typically accept both EMV and contactless payments, pay-at-table devices might offer a work-around for restaurants that haven’t yet converted to EMV.