Tips On Texting Fraud Alerts
DES MOINES, Iowa-The Members Group has released a new white paper that offers strategies for credit unions to incorporate text messaging as a crucial communications tool in fraud prevention programs.
Authored by Cards Risk Senior Manager Karen Postma, the paper also outlines four misconceptions that have made some FIs hesitant to implement fraud text alerts.
Relied on by millions of people every day, text alerts are a powerful weapon in any fraud-fighting arsenal, Postma noted. Yet even with the ease of use and potential fraud loss savings, some FIs worry that:
* Cardholders may dismiss their fraud text alerts as spam.
* Merchant names are too confusing for text alerts.
* Customers already receive too many marketing-related messages via text.
* Text alerts are not practical unless the FI has rolled out a complete mobile strategy.
TMG said Postma's white paper addresses these perceived obstacles and summarizes the potential advantages for FIs that provide this simple, non-invasive way for cardholders to help prevent fraud.
"Text alerts reach possible victims faster and have a greater chance of inspiring a response," said Postma. "In the realm of fraud prevention, text messaging can become a tremendous ally for FIs battling a sophisticated contingency of card fraudsters."
The free paper is available at: themembersgroup.com/pralerts.
NC League Redesigns Site
RALEIGH-The North Carolina CU League has launched a redesigned website at www.ncleague.org. The site is organized around four major emphasis areas: Advocacy, Compliance, Professional Development, and Join the Conversation. "Each of these areas represents the functions of the League that credit unions consistently tell us are most valuable to them," said NCCUL President/CEO John Radebaugh. The site was designed by SmartSource Solutions, which is a wholly owned web services CUSO of Corporate America Credit Union.