Infographic
Published July 8, 2024
Banks Collections & Debt RecoveryThe financial industry continues to undergo significant transformations, driven by rapid technological advancements and changing consumer preferences. Open banking is at the forefront of these changes, a system that enables third-party financial service providers to access consumer banking information through secure application programming interfaces (APIs).
Enhance your strategy and lead the charge in this banking revolution.
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Report
State of Credit Card Report
This report provides an in-depth analysis of the credit card landscape, offering key insights to help your business tackle today’s challenges and uncover opportunities for growth.
Key insights:
- Credit card debt reached an all-time high of $1.17 trillion in Q3 2024.
- About 19 million U.S. households were considered underbanked in 2023.
- Bot-led fraud attacks doubled from January to June 2024.
eBook
3 Common Myths About Real-Time Money Movement & Fraud
Fraud risks have held many financial institutions back from committing to real-time money movement, but the danger of indecision could cause hesitant businesses to miss out on billions. We break down the biggest myths around RTMM and how they’re impacting the financial world.
Key Insights:
- 80% of U.S. consumers want to make payments faster and more direct, opening a lucrative opportunity for businesses who offer real-time money movement capabilities
- How FedNow changes the RTMM landscape in the U.S.
- What makes real-time payments more vulnerable to fraud (and how fraud teams can adapt)
Infographic
Debt Collection Action Plan for Service Providers
Did you know that U.S. residential electricity prices have risen by 25% over the past five years? 1 Download our tip sheet to learn four strategic actions that utility and telecom service providers can take to navigate current collection challenges and dramatically transform outcomes.
Explore how to:
- Successfully prioritize and implement a data-driven strategy.
- Ensure accurate contact data with skip-tracing tools.
- Leverage technology and AI/ML models to improve operations.
- Enhance the customer experience by tailoring interactions.
1. U.S. Energy Information Administration
Report
Liminal Link Index Account Takeover Prevention in Banking
Account takeover (ATO) fraud is surging, with losses reaching nearly $13 billion in 2023 — a 15% year-over-year increase. As fraudsters become more sophisticated, this upward trend shows no signs of slowing.
To protect your organization and customers, it’s critical to implement comprehensive, scalable fraud prevention, identity verification and authentication solutions. Discover why Experian was recently named a leader in ATO prevention by Liminal.