Today In Digital-First Banking: PSCU Collaborates With FICO On Fraud Alert Tool; BMO Begins Business Banking Team To Support SMBs
In today’s top news in digital-first banking, credit union service organization (CUSO) PSCU is teaming with FICO Customer Communications Services on a fraud alert tool, while Canada-based BMO is launching a new support system for the country’s small companies. Plus, Coinbase is opening up a waitlist for American consumers interested in applying for its Coinbase Card.
PSCU is joining forces with FICO Customer Communications Services to create a fraud alert tool for credit unions (CUs). Members are notified expediently and safely via their preferred communication method in the event of potential fraud. Card-not-present (CNP) transactions have become more normal since the pandemic took hold in the spring. These kinds of transactions can attract fraudulently activity that is quick and complex.
Canada-based BMO is rolling out a new support system for the nation’s small companies during COVID-19 via a dedicated banking team. The workforce will be geared toward both rural and city centers and will work with innovative technology such as BMO Business Xpress. BMO Bank of Montreal Head of Canadian Business Banking Mike Bonner said it has “never been more important to stand behind Canadian businesses” with the continuing pandemic.
Digital currency fans in the United States will have their own debit card for holiday shopping in the near future. Coinbase announced on Wednesday (Oct. 28) that is opening up a waitlist for U.S. consumers interested in applying for its Coinbase Card, which is a Visa debit card that lets users harness their bitcoin or other digital currency holdings to shop in stores and via eCommerce as well as change their cryptocurrencies to cash at the ATM.
i2C has selected Miguel Olvera to be its new regional director of business development in Mexico. Olvera will be tasked with speeding up growth efforts and working on strategic alliances with FinTechs, financial institutions, retailers and other third-party ecosystem participants. He previously worked for Citibanamex, the biggest financial institution in Mexico.