A successful partnership requires banks to strike a balance between innovation and risk management.

Biometrics is a useful and prevalent tool in authentication. Still, there are concerns.

Sandboxes, or dev portals, are a traditional way for developers to test out new software. But what if they could test out software using the bank or credit union’s data and platform?

Running pilot projects and experiments, and then measuring and sharing those lessons, has helped East Lansing, Michigan-based Michigan State University Financial Credit Union innovate, says Chief Innovation Officer Ben Maxim.

Establishing multiple layers of authentication for every account action reduces fraud and creates higher levels of trust with customers.