This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: Visa’s payment ecosystem risk and control group issued a report last week that analyzed fraud through the first half of 2025 to distill patterns in how criminals are using artificial intelligence and other new tech tools to commit crimes and what the card network is addressing them. The patterns “reveal how criminals are adapting faster, operating at ...

Accessibility StatementSkip Navigation Enterprises and developers nationwide can now build advanced solutions with Vonage Silent Authentication and SIM Swap; customers include Freenow, a part of Lyft, and Persona HOLMDEL, N.J., Nov. 17, 2025 /PRNewswire/ -- Vonage, a part of Ericsson (NASDAQ: ERIC), today announced the commercial launch of its fraud prevention Network APIs across the U.S., with customers including Freenow, a part of Lyft, and Persona already onboarded. The company is the first to bring Sile ...

First Horizon Corporation Conference Call Summary Company Overview - **Company**: First Horizon Corporation (NYSE:FHN) - **Assets**: $83 billion - **Branches**: Over 400 across the Southeast - **Headquarters**: Memphis, Tennessee - **Segments**: Regional banking, specialty banking, and corporate [1][3] Core Insights and Arguments Customer Sentiment and Loan Growth - Customers in the Southeast are optimistic and resilient despite past challenges like COVID and rising rates [4][5] - Loan growth is slower than previously anticipated, with expectations of high single-digit growth not materializing [5][6] - The mortgage warehouse business has been a bright spot for loan growth [5][8] Loan and Deposit Strategy - Focus on building long-term customer relationships rather than just selling products [7][8] - Emphasis on decentralized decision-making in local markets for deposit pricing [8][9] M&A Activity - Increased M&A activity in the Southeast with several competitors involved in mergers [10][11] - First Horizon has recently completed significant mergers and is now focused on organic growth [12][14] - The company is positioned to capitalize on opportunities arising from competitors' M&A disruptions [12][14] Interest Rate Environment and Asset Sensitivity - The company is optimistic about its countercyclical businesses, particularly FHN Financial, in a falling interest rate environment [17][18] - Mortgage warehouse business is expected to benefit from potential refinancing waves as rates decrease [20][26] Expense Management and Technology Investments - Commitment to keeping expenses flat while investing in technology and efficiency improvements [27][29] - Significant technology investments have been made to clear tech debt and enhance operational efficiency [31][32] - AI is being utilized to reduce costs and improve speed in developing new digital platforms [33][36] Credit Quality and Risk Management - Strong credit culture with a focus on client relationships and decentralized credit analysis [39][40] - Best-in-class charge-off rates, with a proactive approach to monitoring credit quality [41][45] - Increased vigilance regarding fraud and operational controls in response to industry challenges [49][50] ROTCE Target and Capital Management - Achieved a 15% ROTCE in Q4, with a goal to sustain and exceed this level [52][53] - Plans to return capital to shareholders primarily through loan growth, with share buybacks as a secondary option [59][60] - Maintaining a capital ratio of 11% with a long-term target of 10% [57][58] M&A Strategy - M&A is not a near-term priority; focus remains on organic growth and achieving top-tier returns [61][62] - The company is open to opportunities but prioritizes shareholder value and operational efficiency [64] Additional Important Points - The competitive deposit environment has quieted down, with clients aware of rate changes [66][68] - Technology expenses are being managed effectively, with a focus on client-facing projects [70][74] This summary encapsulates the key points discussed during the First Horizon Corporation conference call, highlighting the company's strategic focus, market conditions, and operational insights.

Core Insights - Apple Pay significantly reduces fraud by over 60%, with instances of fraud prevention reaching up to 90% at times [1] - Apple Pay is accepted at 90% of retailers in the US and in 89 global markets, indicating substantial growth over the past decade [2] - The new feature, Tap to Pay on iPhone, is utilized by approximately 50 million merchants across 48 markets [2] - In 2024, Apple Pay will celebrate its 10th anniversary, with 90% of users citing ease of use, 88% privacy, and 87% security as top reasons for their preference [3] - Apple has over 785 million users of Apple Pay worldwide, positioning it as one of the largest Fintech companies [4] - Apple's services, including Fintech offerings, generate higher margins compared to its hardware products [4] - Apple's market capitalization recently reached $4 trillion, with analysts predicting further share price increases [4]

Core Insights - Facephi's biometric technology has achieved Grade 1 certification in South Korea, validating its compliance with national software quality standards for public-sector procurement [1][2][5] - The Hancom Auth v1.1 platform utilizes Facephi's advanced facial recognition and passive liveness detection technology, enhancing identity verification security and user experience [3][4] - The certification underscores the strategic partnership between Facephi and Hancom, with Hancom holding exclusive licensing rights to Facephi's technology in the Asia-Pacific region [5][6] Company Overview - Facephi specializes in digital identity protection and verification, focusing on data security and integrity [6][7] - The company has over a decade of experience and operates in 30 countries, providing innovative solutions to address digital security challenges [7]

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 increased to $5.1 million from $4.7 million in the prior year, representing a 10% growth [5][26] - Adjusted EBITDA improved by $145,000 year-over-year, reaching $75,000 for the quarter [5][26] - Cash at the end of the quarter was $8.6 million, an increase of $3.5 million from $5.1 million at the end of Q1 [5][29] - Gross profit margin was 89.8% for the quarter, down from 90.5% in the previous year, while adjusted gross margin improved to 92.2% from 91% [27][28] Business Line Data and Key Metrics Changes - SaaS revenue for Q2 2025 was up 10% to $5.08 million, accounting for over 99% of total revenue [27] - Retail revenue decreased by 20% year-over-year, contributing approximately 25% to total revenue, while banking and lending contributed about 38% [20][44] - Pricing power was evident with average price per scan and new business price per scan increasing by 25% and 36% respectively [10] Market Data and Key Metrics Changes - Banking sector showed a 12% increase quarter-over-quarter and an 85% increase year-over-year, offsetting the decline in retail [42] - Retail scan volumes were down 2% quarter-over-quarter and down 20% year-over-year [42][44] - Interest from banking and finance users increased by 79% on Google Analytics over Q1, indicating growing market interest [18] Company Strategy and Development Direction - The company is focusing on expanding relationships with major clients and entering new verticals such as title insurance and automotive [8][10] - A new channel manager has been appointed to enhance coverage in strategic verticals and drive revenue through existing partners [14][15] - The company is committed to modernizing its technology stack, having migrated approximately 95% of clients to the AWS platform, expecting annual savings of over $300,000 [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the banking sector's growth and the potential for retail to recover with anticipated interest rate cuts [42][59] - The company is addressing integration issues with a major social media client, emphasizing the importance of resolving these to unlock significant revenue potential [36][67] - Management highlighted the successful signing of multiyear renewal agreements with the four largest clients, indicating strong validation of the company's technology [71] Other Important Information - The company plans to participate in several upcoming conferences to raise visibility among investors and prospects [23][24] - A shelf registration filing is anticipated, allowing the company to sell shares efficiently if needed [30][31] Q&A Session Summary Question: Update on the Southeastern Regional Bank deal - The company started invoicing for the bank branches in July, and revenue from this deal is expected to be present for all of Q3 [35] Question: Timeline for resolution of social media client integration issues - The company is actively working with the client's engineering team to resolve issues, but no specific timeline for resolution was provided [36][40] Question: Retail scan volumes in the quarter - Retail was down 2% quarter-over-quarter and down 20% year-over-year, but banking growth has more than offset this decline [42] Question: Correlation of SaaS and total revenue with retail revenue - Retail revenue was down 20% year-over-year, contributing approximately 25% to total revenue [44] Question: Update on the sales pipeline and performance under new leadership - The sales pipeline is robust, with significant improvements in lead generation and marketing effectiveness noted [51]

Core Points - Comerica Bank is hosting its 16th annual Metro Detroit Shred Day on June 14, 2025, at its Great Lakes Campus, offering free document shredding and electronics recycling to the public [1][2] - The event aims to securely dispose of sensitive documents and electronics while also collecting non-perishable food donations for Gleaners Community Food Bank [3][10] Group 1: Event Details - The Shred Day will take place from 8 a.m. to 1 p.m. and is open to residents, small businesses, and nonprofit organizations [1][2] - Last year, over 1,100 vehicles participated, resulting in approximately 169,000 pounds of paper and 17,000 pounds of electronics being recycled [4][7] Group 2: Community Impact - The event not only focuses on fraud prevention but also contributes to sustainability and food security, with over 2,000 non-perishable food donations and approximately $4,500 in cash donations collected in 2024 [5][6] - In its 15-year history, the event has collected nearly 1.3 million pounds of shredded documents, significantly reducing environmental impact by generating 74% less air pollution and using 50% less water compared to traditional paper production [6][7] Group 3: Partnerships and Support - Comerica is partnering with Iron Mountain and Information Systems Resources to provide secure disposal services [3][4] - Gleaners Community Food Bank has been involved for 10 years, receiving over 17,000 pounds of food and approximately $23,000 in cash donations, resulting in over 95,000 meals provided [7][11]

Fraud & Identity Theft Problem - In 2024, U S fraud impacted 18 million people, costing $27 billion[9] - Account takeover fraud increased by 22%, reaching $16 billion[9] - New account creation accounted for 29% of identity misuse in 2024[9] - 79% of auto dealerships experienced identity fraud-related losses in the past year[9] Intellicheck Overview & Technology - Intellicheck authenticates close to 100 million documents annually in North America[16] - The company's SaaS solutions are used across various industries, both in-person and digitally[15] - Intellicheck works with 28 state-level law enforcement agencies for ID validation[16] - The company's technology validates IDs in less than one second[26] Financial Performance & Outlook - Q1 2025 saw 100% renewal rates with an ACV exceeding $10 million[21] - The company consistently maintains gross margins of 90%+[21] - Intellicheck anticipates positive Adjusted EBITDA for 2025[22] - Q4 2024 total revenue was $5,936,000, with SaaS revenue at $5,913,000[39] - Q4 2024 net income was $488,000 and Adjusted EBITDA was $860,000[39]

Financial Data and Key Metrics Changes - Fourth quarter revenues increased by 15% year-over-year, reaching a record $5,936,000 compared to $5,176,000 in Q4 2023 [31] - SaaS revenues for Q4 grew 17% quarter-over-quarter, totaling $5,900,000, while full-year SaaS revenues increased by 7% to $19,800,000 [8][32] - Adjusted EBITDA for the full year improved to a positive $520,000 compared to a loss of $377,000 in 2023 [39] Business Line Data and Key Metrics Changes - The automotive vertical saw significant growth, with volumes increasing by 2,500% year-over-year, while title insurance grew by 54% [9] - The company achieved a gross profit margin of 91% for both Q4 and the full year, down from 95% and 93% respectively in the prior year [33][37] - Operating expenses increased by 21% in Q4, totaling $4,928,000, primarily due to higher R&D costs [34] Market Data and Key Metrics Changes - Retail still represents approximately 75% of the company's scan volume, although transaction volumes in retail were down about 2.5% year-over-year [29][49] - The company is diversifying away from retail, focusing on verticals such as automotive and title insurance, which have higher transaction values [11][80] Company Strategy and Development Direction - The company is focused on vertical channel diversification and enhancing ID validation services, with a strong emphasis on technology solutions that outperform competitors [5][6] - Ongoing investments in IT initiatives, including a migration from Azure to AWS, are expected to improve efficiency and reduce costs [19][20] - The company aims to leverage marketing and customer service capabilities to enhance customer experience and drive growth [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth in the second half of 2025, driven by rollout schedules and proof of concepts [44][45] - The company is cautious about the retail environment, noting that consumer confidence and spending have declined, impacting transaction volumes [29][54] - Management anticipates continued improvements in adjusted EBITDA and gross margins, with a focus on maintaining operating expenses below revenue growth [41][60] Other Important Information - The company reported a GAAP loss of $918,000 for the full year, an improvement from a loss of $1,980,000 in 2023 [38] - The company has a $2,000,000 revolving credit facility with Citibank, which was not utilized during 2024 [39] Q&A Session Summary Question: Visibility on stronger back half of the year - Management indicated that visibility is based on rollout schedules and proof of concepts, with some delays due to IT integration [44][45] Question: Impact of macroeconomic conditions on sales - Management noted that sales conversations have not been disrupted, as fraud remains a consistent issue across industries [47][48] Question: Clarification on Q4 revenue strength and Q1 expectations - Management explained that Q4 strength was driven by non-retail sectors, while Q1 is expected to see a decline in retail transaction volumes [53][54] Question: Update on large social media customer - Management stated that procurement processes are ongoing, with testing completed and positive feedback received [58][59] Question: Future EBITDA expectations - Management expects continued improvement in EBITDA for 2025, with a focus on maintaining positive growth [60] Question: Sales team structure and focus - Management highlighted the addition of three new sales associates, emphasizing a consultative selling approach across various verticals [62][63] Question: Top priorities for 2025 - Management identified sales growth and enhancing customer success as top priorities for the year [64][66]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report highlights the evolving fraud landscape post-pandemic, emphasizing the need for businesses to adapt to new fraud techniques and consumer behavior shifts [3][7] - Fraud continues to escalate across various channels, particularly in digital and automated transactions, indicating a growing threat to ecommerce and retail sectors [15][48] - The financial and operational impacts of fraud extend beyond direct losses, affecting customer retention and increasing compliance burdens [16][68] Summary by Sections Section 1: Customer Experience - Managing customer friction is critical for fraud prevention success, as excessive measures can lead to increased customer churn [14][25] - 62% of U.S. ecommerce businesses and 53% of Canadian ecommerce businesses report increased customer churn due to fraud prevention measures [25][32] - Improving customer trust and loyalty through seamless experiences is a top priority for U.S. ecommerce (28%) and Canadian retail (43%) [27][42] Section 2: Fraud Attacks - Synthetic identity fraud is a growing concern, accounting for around 30% of fraud losses in U.S. businesses during new account creation [48][55] - Purchase transactions are the primary target for fraud, with identity-related fraud accounting for 45% of cases in U.S. ecommerce [49][51] - Malicious bot activity is on the rise, with over one-third of businesses reporting increased attacks in the past year [50][62] Section 3: Merchant Losses - The LexisNexis Fraud Multiplier indicates that every dollar lost to fraud costs U.S. merchants $4.61 and Canadian merchants $4.52, highlighting the extensive impact of fraud [73][68] - Fraud costs are concentrated in purchase transactions, with U.S. ecommerce reporting the highest percentage at 49% [69][70] - Mobile transactions contribute significantly to fraud costs, with U.S. ecommerce seeing a combined 30% share [80][83] Section 4: Obstacles - Identity verification remains a top challenge across all key stages, with businesses struggling to authenticate legitimate users while preventing fraud [92][96] - Many businesses express optimism about future fraud detection improvements, but this may overlook evolving fraud tactics [103][105] - Organizations are cautious about increasing fraud prevention budgets, with many expecting to maintain current levels [107][108]