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Our fraud series on Zoot Blog recently discussed a multitude of threats facing the financial industry and provided insight regarding next steps in prevention. One thought provoking point raised during these conversations is that criminals are taking advantage of banks’ desire to provide a frictionless customer … Continue reading →
In June, ZootBlog provided important information regarding changes to the Military Lending Act (MLA). As promised, we’re providing the most recent updates to inform lenders as they prepare for the target compliance dates of October 3, 2016 and October 17, 2017 (credit card only).
There is … Continue reading →
After a rocky start, the transition from American Express to Citi for Costco co-brand credit card holders seems to be trending positive. That’s good news for consumers and a boon for the retailer and issuer alike.
My household is now equipped with two functioning Costco Anywhere … Continue reading →
Last week I wrote about the painful transition Costco customers are experiencing as the retailer’s relationship with American Express ends and a new co-brand partnership with Citi begins. The post included some missed opportunities in providing a better customer experience. As it turns out, more pain … Continue reading →
It was big news last week as the Costco/American Express partnership came to an official close. It’s an even bigger headache for Costco customers who have not received their replacement cards from Citigroup—a customer service misstep that could be bad for business on both sides.
Transitioning … Continue reading →
In the first part of our series, we uncovered a multitude of statistics regarding the very real fraud threats that financial institutions, consumers, and merchants face on a daily basis. For part two, we spoke with several fraud experts to gain their perspectives on the most … Continue reading →
In July 2015, the Department of Defense (DoD) passed major changes to the Military Lending Act (MLA) with target compliance dates of October 3, 2016 and October 3, 2017. The 2017 date applies only to credit cards.
The MLA’s overall goal is to prevent predatory lending … Continue reading →
This is the first in a two-part series as we look more deeply at fraud concerns and best practices for managing this ever-changing threat.
Over the past couple of weeks we’ve been discussing fraud mitigation strategies on ZootBlog—everything from EMV chip cards to encryption, tokenization, and … Continue reading →
Use of biometrics is popular in Hollywood movies to create drama and suspense when spies attempt to raid a Swiss bank safe or invade a Russian nuclear plant. Palm print readers and iris scans make for thrilling espionage film scenes, especially when access is gained using … Continue reading →
What happens when fraud protection adds more friction to the payments process or convenience trumps security? EMV has moved the needle the wrong way when it comes to the customer experience. Additionally, mobile device users are more willing to give up personal data that puts them … Continue reading →