Breaking News
Financial Firms Are ‘Comfortable’ Footing Fraud Bill
Nearly three-quarters of financial services firms are currently ‘comfortable’ absorbing the cost of fraud, according to new findings taken from The Future of Global Identity Verification research report from Entrust and Docusign.
This is unsustainable, particularly when the ‘cost’ of fraud does not relate to financial losses alone. Most banks (57%) and financial services firms (56%) report that fraud is harming brand value, while 54% of banks and 59% of financial services firms say it’s also damaging customer retention.
To prevent the rising instances of fraud, Entrust provides a complete Identity Security portfolio to prevent rising fraud across the entire lifecycle, by combining identity verification, authentication and digital signing.
The CX Cost of Fighting Fraud
In addition to rising fraud rates, financial institutions are balancing fraud prevention with delivering a seamless customer experience (CX). The research finds that 60% of banks and 53% of financial services firms say it is challenging to combat fraud without disrupting its customer experience. Similarly, 64% of banking and 59% of financial services express concerns that increasing fraud prevention steps in its online journey will frustrate customers or increase abandonment rates.
Furthermore, more than two-thirds (67%) of financial services firms acknowledge competing priorities over finding the right balance between preventing fraud and maintaining a positive CX.
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intelliflo and Söderberg & Partners Form Strategic Partnership to Drive Adviser Efficiency
intelliflo and Söderberg & Partners today announced a new strategic partnership designed to deliver greater efficiency, smarter workflows and an enhanced technology experience for financial advice firms.
APEXX Global Announces $10 Million Investment from Finch Capital to Accelerate Global Growth
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Clearwater Analytics and TreasurySpring Announce Platform Integration for Fixed-Term Cash Management
Clearwater Analytics (NYSE: CWAN), the most comprehensive technology platform for investment management and TreasurySpring, the global cash investment platform, today announced an integration that connects CWAN’s investment management platform directly with over 1,000 cash investment products from TreasurySpring, helping institutional clients manage surplus cash with defined maturity requirements.
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ING: AI Will Redefine Banking Careers
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ANZ Launches Agentic AI-Powered CRM to Transform Business Banking
ANZ is investing in its business banking experience by deploying Salesforce's Agentforce 360 platform within its new CRM tool
Bain & Company Acquires JJC Fintech to Enhance CLM, KYC, and AML Offerings for Financial Services Clients
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Lüt Announces Strategic Partnership with Safe Harbor to Expand Access to Compliant Closed-Loop Payments for Cannabis and Specialty Merchants
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Figure Partners with moomoo and Keplr to Expand Global Access to the On-chain Public Equity Network (OPEN)
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OneDome Raises $25M Pre-Series C, Bringing Total Funding to $40M
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Uniting Europe’s capital markets by consolidating issuance, custody, trading, and settlement of securities into a regulated system built on DLT.
ComplyAdvantage Fintea Chats: Lucy Heavens on Compliance, Technology and the Future
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Chargebase Launches to Help Merchants Cut Chargebacks and Give Easy Access to Verifi and Ethoca Alerts
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