first_img 10SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr When it comes to fighting card fraud, a credit union’s best resource may be its own members, especially when they are equipped with the latest technology for card controls and alerts.In fact, a recent study conducted by Javelin Strategy and Research reveals that consumers that receive alerts related to their account activity save their financial institutions up to $19 per user in annual service costs, plus an additional $9.22 each year if the consumer receives interactive alerts.Even more noteworthy, the research shows that an informed and “alerted” consumer can stop up to 50 percent of fraud attempts before they are carried out successfully.“Consumers understand their own spending patterns much better than their financial institutions do,” said Michelle Thornton, director of product development for CO-OP Financial Services. “Placing card security directly into the hands of members makes great business sense for credit unions, instills member confidence, and is a real game changer in the fight against card fraud.” continue reading »last_img

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