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
Last month, I co-hosted a webinar with Javelin Strategy & Research, “Growing Fraud Risks Facing Millennials, Gen X and Boomers.” It showcased new research surrounding different identity risks and protection preferences for each demographic. Continue reading
As we round out the current year, the data security world is buzzing with year-end reports and data security predictions for 2017.
From cybercrime to payments fraud — identity crimes took a dramatic turn in 2016. This year-end data paints a telling story of the state of data security. Some changes were for the best, others for the worst. However, there are a few qualitative findings that offer even more insight into the future. Continue reading
As the saying goes, if you’re not part of the solution, you’re part of the problem. Fortunately, providing solutions is easier than you think.
Given that fraud and identity theft have claimed a mainstream spotlight in the past few years — impacting over 18 million in the U.S. in 2013 and leading FTC complaints for 15 years running — it might seem as though the average consumer would be well acquainted with these topics. However, being aware of a problem and grasping the full depth of the problem are not one and the same.
Without a clear understanding, consumers tend to jump to conclusions and fill in blanks with inaccurate information. And for matters as critical as those threatening one’s personal information and finances, consumers are largely being led by fear. In fact, a 2014 nationwide study by Chapman University found that Americans’ second greatest personal fear is “becoming the victim of identity theft.” Continue reading