Equifax and Qlarifi to study impact of BNPL on credit risk and fraud

💸 Still writing checks? It’s costing your bank more than you think. This week on Banker to Banker, we break down the hidden costs of check payments—from processing fees to fraud risk—and why it's time for banks to rethink their payment strategy. 📉 Spoiler: The average check costs $3.00 to $10.00 to process. Multiply that across thousands of transactions, and the impact on profitability becomes clear. ✅ Learn how modernizing your payment systems can reduce costs, improve customer experience, and boost efficiency. 🔗 Read the full post: https://lnkd.in/ekPEu2wQ #CommunityBanking #Payments #BankProfitability #Fintech #BankOperations #SouthStateCorrespondent

When banks deliver a strong dispute experience, they build trust and enhance loyalty. But a poor experience can have the opposite effect, driving customers away. https://lnkd.in/e6cvuY6r

1. Freeze What Matters Lock your credit with all three bureaus (Experian, Equifax, TransUnion). It’s free, fast, and stops unauthorized accounts from being opened in your name. 2. Monitor More Than Just Your Score Most people track their score — but thieves target your data, not your number. Use trusted services (like Experian IdentityWorks or myFICO) to get alerts for: • New accounts or inquiries • Changes of address • Public record activity. 3. Don’t Trust Every Voice or Video AI can clone your voice or face from a 10-second clip. If someone calls claiming to be a family member, lender, or even your advisor, verify through a second channel (text, email, or known number). 4. Two-Step Everything Every account — bank, mortgage portal, credit app — should have multi-factor authentication (MFA) enabled. Even if someone steals your login, MFA keeps them locked out. 5. Vet Who You Work With Fraudsters pose as lenders or credit specialists promising quick approvals or clean-up services. Verify credentials — NMLS license, business registration, client reviews. 6. Rebuild & Fortify If you’ve already been targeted or feel exposed, don’t panic — rebuild strategically. • Review credit reports for fraudulent entries • File disputes properly (not through random “repair” companies) • Re-establish positive credit lines the right way AI is rewriting the rules — but with the right guidance, you stay one step ahead. At Colston Advisors, we don’t just boost credit scores; we build credit intelligence that protects your future. DM us to schedule a quick review of your credit health and security strategy. #MortgageWithCreditIntelligence #CreditAdvising #FinancialSecurity #CreditEducation #SmartBorrowing #MortgageExperts #CreditAdvisor #ColstonAdvisors #SunsetHomeMortgage #MortgageProtection

Auto lending is getting trickier by the day: TransUnion says fraud losses are now showing up in prime and even super-prime portfolios, with some topping $20K per loan. That’s pushed charge-off rates near 3.4%, roughly the same as near-prime. As you’d expect, lenders are slowing down in response. Think added verifications, longer funding times, and tighter proofs across the board. For dealers, that means cars stuck in recon and cash flow that feels tighter by the week. Which is why many are: - Trimming lender lists - Updating outdated fraud protocols - And training their full teams (not just F&I) to spot red flags early. Big picture: We know dealers don’t control the credit box. Lenders do. But that’s exactly the point. Because when approvals tighten and fraud checks stack up, what you control is how transparent, efficient, and connected operations are on your side of the line. Read the full Market Pulse, together with Podium: https://lnkd.in/gDn2M_dm

Linker Finance Partners with Advanced Fraud Solutions to Strengthen Deposit Fraud Prevention for Community Banks https://ow.ly/QGEN50X3xPe #financialtechnology #Fintech #financial #finance #InsurTech #FintechNews #AIinFinance

74 U.S. Banks lost more than $100 #billion in market value within just #24-hours due to reported #Noncompliance and fraud at two regional U.S. banks. There must be similar issue in other banks and financial institutes. “If you see one cockroach in the room, it means others are hiding.” A failure in the banking regulatory system could trigger a recession worse than those of 1929 and 2008 and this time, the most affected region may be the UAE. In October 2025, Zions Bancorporation reported about $60 million in loan losses after uncovering borrower #misrepresentations and #defaults, raising concerns over internal controls and #credit-risk #oversight. Western Alliance Bank faced a separate borrower-fraud case involving forged collateral documents and also suffered a 2025 data breach affecting 21,899 customers. Both incidents highlight apparent weaknesses in due diligence, collateral verification, and cybersecurity compliance, prompting investor and regulatory scrutiny. Society of Corporate Compliance and Ethics (SCCE) Association of Certified Fraud Examiners (ACFE), IFC - International Finance Corporation, International Compliance Association, United Arab Bank #Marketwatch& #FT. In October 2025, Zions disclosed that it had “identified what it believes to be apparent misrepresentations and contractual defaults” by two borrowers and several guarantors under two related commercial and industrial loans originated by its subsidiary California Bank & Trust. As a result, the bank took a provision for the full approximately $60 million outstanding under the loans and charged off about $50 million of that amount. Investors and a law-firm have flagged possible securities-fraud implications tied to the disclosure. The bank characterized the incident as isolated, but the size of the charge-off and the misrepresentation by borrowers signal failures in underwriting, collateral monitoring and perhaps borrower verification. Western Alliance Bancorporation (Ticker: WAL) In a separate matter, Western Alliance announced on October 16, 2025 that it had initiated a lawsuit against a borrower, alleging fraud, specifically that the borrower failed to provide collateral in first position as required and forged title policies related to the lien underlying several loans. Separately, in March 2025 the bank disclosed a data-breach incident affecting around 21,899 customers: an unauthorized actor exploited a zero-day vulnerability in a third-party file-transfer software from October 12 through October 24, 2024, and the bank only discovered the activity in late January 2025. The stolen data included names, Social Security numbers, driver’s license numbers and other sensitive personal identifiers. These incidents point to compliance and operational-risk weaknesses: weak vendor-cyber controls and borrower-collateral verification processes.

⚠️ New blog alert ⚠️ 💡 Fraud in auto lending is evolving faster than ever. Circular bank statement fraud is a new tactic where borrowers create synthetic income by cycling real funds through digital platforms like Venmo or Cash App. Traditional verification tools can be tricked, putting lenders at risk. At Informed, we emphasize AI-powered, multi-layered detection that looks at behavioral patterns, not just documents. Read Jessica Pillado Gonzalez, PMP, MBA, POPM's insights on how this new wave of fraud works and how lenders can defend themselves: 🔗 https://lnkd.in/gewy6vn7 #AutoFinance #FraudPrevention #SyntheticIncome #BankStatementFraud #FinTech

October 7, 2025 NEWS: Frictionless Payments Are a Fraud Factory, Banks Can’t Afford the Tab >>>>> https://conta.cc/3KWBKik <<<<< Executive Summary Consumers love the ease of frictionless payments — but the same convenience makes fraud and impulsive claims more likely. Banks face growing pressure as traditional fraud protections are tested by blurred consumer responsibility. Financial institutions must rethink liability and strengthen safeguards to balance convenience with sustainable risk management. Consumers generally view friction as a bad thing. Nobody wants to go through extra steps or jump through unnecessary hoops just to activate a device, log into an account, or make a purchase — today’s consumers desire a user-friendly interface that allows them to accomplish their goals quickly and easily. But it’s important to remember that friction serves a purpose: you may not enjoy entering your credit card verification code whenever you want to make a purchase, but it exists to help keep your payment data secure. >>>>> https://conta.cc/3KWBKik <<<<<

Peer-to-peer lending platform Prosper has disclosed a data breach impacting over 17 million customers. Exposed data includes names, SSNs, and financial details. The company says no funds were stolen and operations remain unaffected. #DataBreach #ATOM #MCDP

In 2025, Wells Fargo has announced plans to close more than 60 bank branches across multiple states, raising concerns among customers about access to in-person banking and the safety of their funds. The closures are part of a broader cost optimization and digital shift strategy, but bank officials emphasize that deposits remain federally insured and accessible via ATMs and digital services. #wellsfargobank #Branches #Closure https://lnkd.in/d9K4gdbt