Digital banking

The coronavirus crisis led to "the greatest acceleration of digital banking in history." Here's what to expect next.

In a new twist on an old scam, cybercriminals have tried to get thousands of Wells staffers to surrender their own account information by sending authentic-looking emails containing malicious links that lead to a fake website bearing the company's name.

Peoples Bank in Arkansas and Main Street Bank in Massachusetts are getting smarter about spotting suspicious transactions tied to unemployment benefit fraud as well as warning customers what to watch out for.

Mobile banking use has swelled since the pandemic hit, and law enforcement officials expect hackers to target the credentials of digital novices. The FBI stressed the importance of two-factor authentication and ensuring consumers know how to spot fake apps that carry malware.

After initially processing the loans manually, the Minnesota bank turned to "low code" software to build the electronic forms and workflows needed to approve loan applications. The result: a more than fivefold increase in the number of loans it could process in a day.