PFM (Personal Financial Management) refers to financial technology that helps users manage their money through visual charts and graphs. While this seems
- Sep 06, 2017
Wouldn’t it be nice if your members had the ability to turn off their debit and credit cards and shut down access to their accounts when they lose their wallet? What about having this ability when the reality of fraud presents itself?
Target’s announcement that 40 million cards had been compromised during the height of a holiday shopping season, followed by Neiman Marcus with 1.1 million customers affected by a data breach, are only two examples which illustrate the need for a technology that will help combat fraud.
While many debit and credit card companies and processors employ sophisticated back-end fraud detection systems, what about a technology that would put fraud prevention into the hands of your members?
Innovation is alive within digital banking – and why wouldn’t it be? Today, services like Uber and Lyft allow people to request a car and driver through their smartphone with the tap of a finger, so why should anyone have to sit on the phone to dispute a fraudulent debit or credit card charge?
There has been recent media coverage regarding the creation of mobile remote control apps. However, remote controls for debit and credit cards does not require the use of an app separate from your financial institution’s mobile banking app. In fact, integrated mobile card management services are available from digital banking providers.