Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Study Vendor partnerships key to fighting fraud
BOSTON (4/21/09)--Credit unions plan to increase their efforts to fight fraud, and vendors should work on creating strategic partnerships to present more complete solutions, according to a recent study. Fraud is a serious concern for financial institutions, and credit unions spend millions of dollars each year on solutions to prevent attacks, Boston-based Aite said in its new report, “Fraud Management at Retail Banks and Credit Unions: The Vendor Landscape.” "The sheer number of fraud management vendors used by financial institutions speaks to a lack of ability for any one vendor to address the gamut of fraud management needs," said Nick Holland, senior analyst with Aite Group and author of the report. "Vendors looking at the fraud management landscape for financial institutions should realize that institutions are likely to gravitate to vendors that can provide fewer touchpoints to the overall fraud picture. Vendors should explore strategic partnerships in order to present a more complete offering,” he added. The report is based on a November 2008 survey of executives at 23 of the top 150 U.S. financial institutions. It reveals financial institutions’ perceptions of fraud management technology vendors and ranks vendors in four areas: new account opening fraud detection, ID verification, authentication and ID fraud monitoring; fraud database; enterprise fraud case management; and check fraud detection.


RSS





print
News Now LiveWire
How to use social media for crisis communications Feb. 10 webinar from @SBAgov, @AgilityRecovery http://t.co/d16t8RHr7n
26 minutes ago
#Consumersentiment highest in 11 years @Umich January survey http://t.co/64ORm6b0Fc
4 hours ago
#creditunions teach #college students how to handle the plastic http://t.co/SYy24PSQmn
5 hours ago
How you might change how you bank in 2015 @Bankrate http://t.co/wRhQsyTvul
5 hours ago
#NewsNow Ohio, Ga. video: Merchants not watching your wallet http://t.co/7jc7rECKSF
6 hours ago