The Dark and Dangerous Secret the Banking and Credit Card Industries Have Kept Hidden From Consumers… Is Now All Over CNBC

Financial institutions may be in big trouble. For years now, the industry has been trying to keep a dangerous secret away from the public. It’s a secret that could cause a major shakeup in the banking, credit card and credit union industries.

But now, CNBC, the largest financial tv and web network on earth, has just exposed the terrifying facts. And once consumers realize the potential ramifications (which have already begun), account holders at certain institutions may begin to flee for more secure ground.

However, while some banks and credit unions may fall victim to massive depositor outflows, others who are properly positioned, right now, may stand to see depositor inflows and a growth in capitalization.

It all depends on how the facts are handled, and if the proper precautions are immediately put in place.

Receive a Full Demonstration on How RembrandtAi Can Help Avert Depositor Outflows and Better Protect Against Fraud, HERE

Before we discuss the CNBC exposé, how the public may handle it, and how certain financial institutions may actually benefit from it, a little background information is needed.

In 2017, Equifax announced a data breach that affected 147 million people.

Last November, TransUnion announced a data breach that may have affected 200 million people.

And in January, Experian announced it had a major hole in its security system that allowed criminals to access an unknown number of consumer credit reports.

Combined, these three major credit bureau hacks may have allowed for the personally identifiable information (PII) of potentially every adult American consumer to be exploited by criminals.

As a result, billions of dollars have already been lost to fraud, and billions more are expected, as the problem is only growing worse.

Now, thanks to a major story by CNBC, the American consumer has finally become aware of the full gravity of the situation…

And because of this, banks and credit unions should be on high alert.
Reads the headline of the CNBC exposé. CNBC had over 169.5 million visitors to its website in March, the same month it published the story. That’s a massive number of eyeballs exposed to a massive problem, and nearly all of these visitors likely hold assets at a bank, credit union, or both.

And now they have questions. Questions your institution better be prepared to answer.

Questions like:

Should I be worried?

Are you still using an ineffective, outdated fraud prevention system?

Or are you using RembrandtAi, the world’s most advanced, real-time, artificial intelligence-backed fraud detection and prevention system?

The system that’s already proven to prevent hundreds of millions in fraud losses?

Is my money safe with you?

If it’s not, can you tell me which institutions have deployed RembrandtAi?

… And how do I move my deposits to them?

Receive a Full Demonstration on How RembrandtAi Can Help Avert Depositor Outflows and Better Protect Against Fraud, HERE

If your institution isn’t already fielding questions like these from your depositors, chances are, you soon will.

You see, the $8.8 billion lost to fraud in 2022 is only what’s been reported to the FTC by consumers themselves.

But it’s not a true account of what really happened.

According to Javelin Strategy & Research, American consumers lost nearly five times that amount to fraud last year. In fact, Javelin says the true losses were $43 billion, not $8.8 billion.

Further, their study showed that 100% of those losses were a result of identity frauds. Frauds that generally led to one thing: theft of depositor assets, and massive losses at the institutional level.

How massive? Well, data compiled by LexisNexis show the costs associated with all frauds rose by 20% last year, with financial institutions bearing the brunt.

In fact, for every $1 stolen in a fraud attack, banks and credit unions found themselves on the hook for an average of $4.36 in related mitigation costs.

This means a $10,000 fraud cost institutions an average of $43,600 to resolve.

The cat’s out of the bag. Institutions and consumers alike have begun to demand better fraud protection. And with more fraud certainly coming, the time to deploy that better fraud protection is right now.

The solution is RembrandtAi.

Remember, institutions who’ve implemented the real-time capabilities of RembrandtAi have already reduced fraud costs by hundreds of millions of dollars.

That’s a massive savings to your bottom line.

Importantly, especially in this scary environment, once your institution deploys RembrandtAI, you should immediately announce these new fraud protections to your depositors.

They’ll be glad to know you’ve got their assets in front of mind and are employing the most advanced technology to help combat fraud.

They’ll be glad to know you’re on top of fraud, and some of the scary headlines they read about shouldn’t overly worry them…

They’ll rest assured knowing you’re using RembrandtAi.

And they’ll be glad to keep their deposits at your institution.

If you’re at all skeptical about the remarkable capabilities of RembrandtAi, we urge you to participate in a full demonstration.

Don’t fall victim to depositor outflows. Instead, position your institution for potential depositor inflows, and better protect your members from fraud losses with RembrandtAi.

For a thorough demonstration of RembrandtAi, Simply click HERE.