When used for fraud prevention, a card issuer sends a text message to a card holder about a recent transaction that meets the issuers parameters as suspicious. The card holder then has a chance to reply that they recognize the transaction or that they don't. If they don't, the account is suspended and the card issuer sends another text message with a phone number for the card holder to call for further investigation and instructions........New White Paper Addresses Text Alert Concerns
The National Credit Union Administration has finalized a rule to improve board and executive succession planning within the credit union industry. This strategic move aims to curb the trend of mergers driven by technological stagnation and poor succession strategies, ensuring more credit unions maintain their independence and enhance their technological capabilities. By Ken McCarthy, Manager of marketing communications at Tyfone Credit unions are merging out of existence because of an inability to invest in technology, the National Credit Union Administration Board wrote when introducing its now finalized rule on board succession planning. The regulator now requires credit unions to establish succession planning for critical positions in their organizations. But it’s likely to have even wider effects, such as preserving more independent charters and shaking up the perspectives of those on credit union boards. “Voluntary mergers can be used to create economies of scale to offer more or ...
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