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Industry Insights

All posts by Laura Bruck

About Laura Bruck

Laura, former VP of Marketing at EZShield, now a Sontiq brand, is a marketing professional with over 20 years of experience leading marketing and supporting sales to develop partner solutions, transition to new markets, and achieve significant revenue growth.

Can You Spot a Synthetic ID? The $6 Billion Mistake in Banking

What Banks Need to Know About Synthetic Identity Theft

New research from the Auriemma Consulting Group (ACG) paints a bleak picture of the state of synthetic identity theft and its hit to the banking industry. 

Synthetic identity theft cost banks $6 billion in 2016. Five percent of charged-off accounts and up to 20 percent of credit losses are thought to be a result of synthetic identity theft. 

With synthetic identity theft on the rise, banks and credit unions must search for more comprehensive solutions to this growing problem.  Continue reading

Banking on New Revenue? How the Right ID Protection Partnership Can Help

Return on Revenue Identity Theft Protection August 2017

The FDIC recently released impressive figures in their Q1 report of U.S. bank performance. 

Aggregated net income for financial institutions was $44 billion in the first quarter of 2017. This is a 12.7 percent increase from the year prior. Community banks shared this growth with a 10 percent increase. Collectively, more than half of all financial institutions reported year-over-year growth in Q1 earnings. 

The report cited an increase in both interest and non-interest income as the primary drivers for revenue growth. The $2.1 billion in non-interest revenue growth is reflective of the drive to diversify products and grow revenue streams.  Continue reading

Digital Innovation in Banking (And What It Means to Accountholders)

Digital Innovation in Banking

Technology moves fast. We see it with major “disruptions” from both digital innovation in banking as well as in our personal lives. These changes breed new opportunities but the accompanying challenges can be difficult to overcome. With all the avenues for innovation, what’s the most profitable path for financial institutions? 

A people-centric approach with a dual-view of the digital landscape is always a smart place to start.  Continue reading

Going Above the “Rearview Approach” to Post-Breach ID Protection

Credit Monitoring is Not Enough Post Breach

The Pew Research Center reports 64 percent of Americans have been victims of at least one data breach. 

A data breach occurs when personal or financial information is unlawfully viewed, stolen or used. Exposure can stem from malicious sources, like hacking and theft, or can be seemingly innocent in nature, such as an employee improperly disposing of sensitive files.  Continue reading

Blurred Lines Between Business and Personal Banking Creates Opportunity

Small Business Banking

Small business banking is the new battleground for financial institutions, as many seek to ramp-up revenue by focusing on these often-under-served assets. 

The push comes as small business undergoes some major changes — from the owners themselves to the sought-after account features to the diverse set of players in the space. This small, yet mighty facet is creating major opportunities, as well as some considerable competition, for banks and credit unions.  Continue reading

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