In 2023, 48% of consumers said their primary method of accessing their bank account was through their mobile phone and online platforms. The preference for digital banking channels is especially strong among younger generations, with 74% of millennials reporting that they choose to bank digitally. The growing popularity of digital banking platforms provides fraudsters and hackers new opportunities to create false accounts or take control of existing accounts. Financial institutions must implement new security measures to keep criminals out while providing a positive experience for legitimate u ..read more

As photo-editing and creation tools become more advanced and easier to use, it’s more and more difficult to identify fraudulent documents, like identity document (ID) cards. And with the latest deepfake technology, it’s easier than ever to fool traditional fraud detection systems. Stopping savvy fraudsters requires taking a smarter approach to identity document verification. Enter artificial intelligence (AI). Like many other processes and industries, AI has the power to reinvent and improve the way we verify identity documents in today’s digital-first world. Using AI technology to detect frau ..read more

Fraudsters’ attacks are getting more and more advanced. They’re discovering new ways to bypass conventional fraud detection systems, allowing them to slip under the radar for longer and longer amounts of time. Fast detection is key to stopping damages caused by fraud from spreading. With smarter cybercriminals, companies need smarter prevention and detection systems to combat fraud — specifically tools capable of detecting fraud in real time. Let’s break down why real-time fraud detection is critical, how it works and how to implement it. The Benefits of Real-Time Fraud Detection Financia ..read more

With the increasing rise in air travel around the world, the stakes for airlines couldn’t be higher. Security and efficiency are top concerns, and ensuring passengers have a frictionless experience has become an imperative. But there’s a hidden vulnerability that often goes unnoticed amidst the hustle and bustle of terminals and boarding gates: airline frequent flyer programs. For travelers, airline miles and hotel points represent more than just loyalty rewards — they’re a valuable currency facilitating journeys across the globe. And just as with bank accounts, they are a prime target for cyb ..read more

Risk signals are various types of checks that help verify that a person is who they say they are and that they’re suitable to do business with. For example, when a new user is creating an account online, you can check the reputation of their phone number, email address and IP address to see whether those channels have been used in fraudulent transactions in the past. Because risk signals are inexpensive and low-friction for users, they provide an excellent way to check the risk of the user before you perform more expensive and active methods of identity verification. That’s why so many busines ..read more

In the ever-evolving financial realm, credit unions are experiencing a notable surge in membership, indicating a shift in consumer preferences towards a holistic banking experience. This encompasses not only competitive loan rates but also factors such as convenience, security and personalized service. Credit unions, serving as pillars of trust and reliability within their communities, face the challenge of adapting to the digital revolution while maintaining the utmost security standards. With an increasing number of transactions occurring online and through mobile applications, safeguarding ..read more

Face ID was added to most smartphones in 2017. The revolutionary technology largely replaced iPhones’ TouchID software and added an extra layer of security to Apple smartphone devices. The two-layer security combination of Face ID and Passcode keeps iPhones more secure than traditional facial recognition done by a simple 2D front-facing camera. But Face ID is doing more than just unlocking smartphones. The technology is also used to authorize online transactions on most Apple devices — and it’s raised some safety and security concerns. Let’s explore how Face ID works and whether or not it’s a ..read more

It’s been two years since 4Stop was acquired by Jumio, and as the former 4Stop CEO, I’m happy to say that this has been one of the best experiences of my career.  2022 was a big year for acquiring data orchestration hubs like 4Stop, as everyone realized the importance of orchestration to their business strategy. As we considered 4Stop’s future, we quickly identified Jumio as the right home for us, not just as the ideal technology partner but also because of the perfect match in leadership and culture. 4Stop was the strongest orchestration provider, and Jumio was the global leader in ident ..read more

Deepfakes are causing massive disruption across industries and are threatening companies’ security, reputation and bottom line. Every day there are new reports of criminals breaking through online security protocols and defrauding businesses and their customers around the world. InfoSec and IT departments are scrambling to put better policies and systems in place to prevent deepfakes. But fraudsters use a variety of sophisticated techniques such as deepfake faces, face morphing and face swapping along with video injection to bypass the camera and inject these digital attacks into the selfie pr ..read more

One of Jumio’s strengths is that we provide various channels for integrating the identity verification journey into your onboarding workflow: a Web Client, Web SDK, Mobile SDKs and REST APIs. Each channel has unique advantages, and you can leverage one or more channels as needed. Fraudsters are becoming more and more sophisticated, and no solution catches 100% of fraud. To minimize risk while maximizing convenience for users, it’s important to understand the benefits and limitations of each integration channel. Let’s take a closer look at each one. Web Client The Web Client is the easiest chan ..read more