Sponsored Content

How Credit Unions Can Avoid the Pinch of Fraud Liability in an Era of Instant Payments

By Nice Actimize

Members demand fast, easy and convenient experiences, but what happens when transactions go wrong? When a member is a victim of fraud, what starts as a convenient experience can quickly turn difficult, exposing credit unions to a financial hit.

Regulations are shifting fraud liability from consumers to financial institutions. At the same time, innovation is taking significant steps forward, including the recent launch of FedNow, which supports nearly real-time transactions.

"Members want to feel like their money and personal information are safe," says Brian Keefe, senior presales consultant at NICE Actimize. "And fraud can erode the member experience, even when a person gets their money back."

Credit Union Times

Credit Union Times image

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account?