Synovus prioritizes fraud protection with Carefull
Synovus has announced a partnership with Carefull to combat financial exploitation and fraud through enhanced account protection services. The initiative comes as fraud losses in the U.S. reached an estimated $158.3 billion in 2023, according to the Federal Trade Commission.
The bank is rolling out Carefull as a complimentary benefit to clients in phases, offering comprehensive monitoring of bank, credit card, and investment accounts for suspicious patterns, fraud indicators, and money mistakes. The service includes identity monitoring, home title protection, credit monitoring, and a secure digital vault for documents and passwords.
A key feature is the Trusted Contacts function, allowing family members to participate in account monitoring, particularly beneficial for older adults who hold 65% of U.S. deposits and are frequent targets of scams. Approximately 75% of Carefull users engage family members in the platform, enhancing fraud detection capabilities while strengthening multigenerational banking relationships.
Synovus ha annunciato una partnership con Carefull per combattere lo sfruttamento finanziario e le frodi attraverso servizi di protezione degli account potenziati. L'iniziativa arriva mentre le perdite per frodi negli Stati Uniti hanno raggiunto un stimato $158,3 miliardi nel 2023, secondo la Federal Trade Commission.
La banca sta implementando Carefull come un beneficio complementare per i clienti in fasi successive, offrendo un monitoraggio completo di conti bancari, carte di credito e investimenti per schemi sospetti, indicatori di frode e errori finanziari. Il servizio include monitoraggio dell'identità, protezione del titolo di proprietà, monitoraggio del credito e una cassaforte digitale sicura per documenti e password.
Una funzione chiave è quella dei Contatti Fidati, che consente ai membri della famiglia di partecipare al monitoraggio degli account, particolarmente vantaggiosa per gli anziani che detengono il 65% dei depositi negli Stati Uniti e sono obiettivi frequenti di truffe. Circa 75% degli utenti di Carefull coinvolgono i membri della famiglia nella piattaforma, migliorando le capacità di rilevamento delle frodi e rafforzando le relazioni bancarie multigenerazionali.
Synovus ha anunciado una asociación con Carefull para combatir la explotación financiera y el fraude a través de servicios de protección de cuentas mejorados. La iniciativa surge cuando las pérdidas por fraude en EE. UU. alcanzaron un estimado de $158.3 mil millones en 2023, según la Comisión Federal de Comercio.
El banco está implementando Carefull como un beneficio complementario para los clientes en fases, ofreciendo un monitoreo integral de cuentas bancarias, tarjetas de crédito e inversiones para detectar patrones sospechosos, indicadores de fraude y errores financieros. El servicio incluye monitoreo de identidad, protección de títulos de propiedad, monitoreo de crédito y una bóveda digital segura para documentos y contraseñas.
Una característica clave es la función de Contactos de Confianza, que permite a los miembros de la familia participar en el monitoreo de cuentas, especialmente beneficiosa para los adultos mayores que poseen el 65% de los depósitos en EE. UU. y son objetivos frecuentes de estafas. Aproximadamente 75% de los usuarios de Carefull involucran a miembros de la familia en la plataforma, mejorando las capacidades de detección de fraudes y fortaleciendo las relaciones bancarias multigeneracionales.
Synovus는 Carefull과 파트너십을 체결하여 강화된 계좌 보호 서비스를 통해 재정 착취 및 사기를 방지한다고 발표했습니다. 이 이니셔티브는 2023년 미국에서 사기로 인한 손실이 약 $158.3억에 달했다고 미국 연방 거래 위원회가 보고하면서 시작되었습니다.
은행은 고객에게 Carefull을 단계적으로 무료 혜택으로 제공하며, 의심스러운 패턴, 사기 지표 및 금전적 실수를 모니터링하는 포괄적인 서비스를 제공합니다. 이 서비스에는 신원 모니터링, 주택 소유권 보호, 신용 모니터링 및 문서와 비밀번호를 위한 안전한 디지털 금고가 포함됩니다.
주요 기능 중 하나는 신뢰할 수 있는 연락처 기능으로, 가족 구성원이 계좌 모니터링에 참여할 수 있게 하며, 이는 미국의 예금의 65%를 보유하고 사기의 주요 대상이 되는 노인들에게 특히 유용합니다. Carefull 사용자 중 약 75%가 플랫폼에서 가족 구성원을 참여시키며, 이는 사기 탐지 능력을 향상시키고 다세대 은행 관계를 강화합니다.
Synovus a annoncé un partenariat avec Carefull pour lutter contre l'exploitation financière et la fraude grâce à des services de protection de compte améliorés. Cette initiative intervient alors que les pertes dues à la fraude aux États-Unis ont atteint un montant estimé de 158,3 milliards de dollars en 2023, selon la Federal Trade Commission.
La banque déploie Carefull comme un avantage complémentaire pour les clients par étapes, offrant une surveillance complète des comptes bancaires, des cartes de crédit et des investissements pour détecter des schémas suspects, des indicateurs de fraude et des erreurs financières. Le service comprend la surveillance de l'identité, la protection des titres de propriété, la surveillance du crédit et un coffre-fort numérique sécurisé pour les documents et les mots de passe.
Une caractéristique clé est la fonction Contacts de Confiance, permettant aux membres de la famille de participer à la surveillance des comptes, ce qui est particulièrement bénéfique pour les personnes âgées qui détiennent 65% des dépôts aux États-Unis et sont souvent la cible d'escroqueries. Environ 75% des utilisateurs de Carefull impliquent des membres de leur famille sur la plateforme, améliorant ainsi les capacités de détection des fraudes tout en renforçant les relations bancaires intergénérationnelles.
Synovus hat eine Partnerschaft mit Carefull angekündigt, um finanzielle Ausbeutung und Betrug durch verbesserte Kontoschutzdienste zu bekämpfen. Diese Initiative kommt, da die Betrugsverluste in den USA im Jahr 2023 schätzungsweise 158,3 Milliarden US-Dollar erreichten, so die Federal Trade Commission.
Die Bank führt Carefull als kostenloses Zusatzangebot für Kunden in Phasen ein und bietet umfassende Überwachung von Bank-, Kreditkarten- und Investitionskonten auf verdächtige Muster, Betrugsindikatoren und Geldfehler. Der Service umfasst Identitätsüberwachung, Schutz von Eigentumstiteln, Kreditüberwachung und einen sicheren digitalen Tresor für Dokumente und Passwörter.
Ein zentrales Merkmal ist die Funktion der Vertrauenswürdigen Kontakte, die es Familienmitgliedern ermöglicht, an der Kontenüberwachung teilzunehmen, was besonders vorteilhaft für ältere Erwachsene ist, die 65% der US-Einlagen halten und häufig Ziel von Betrügereien sind. Etwa 75% der Carefull-Nutzer beziehen Familienmitglieder in die Plattform ein, was die Betrugserkennungskapazitäten verbessert und multigenerationale Bankbeziehungen stärkt.
- Free security service added for account holders
- Comprehensive fraud protection system implementation
- Enhanced multi-generational banking relationships through family monitoring features
- Additional value proposition for client retention
- None.
Insights
Synovus's new partnership with Carefull represents a strategic defensive maneuver in the increasingly critical battleground of financial security. With consumers losing an estimated
The timing is particularly strategic as regional banks face intense competition from both larger institutions with massive technology budgets and fintech disruptors. By focusing on fraud protection, Synovus is targeting a high-impact pain point rather than attempting to compete on features that require greater scale.
What makes this partnership particularly noteworthy is its focus on multigenerational banking relationships through the Trusted Contacts feature. With approximately
The business case is compelling when you consider that older adults control
From an operational perspective, this initiative likely offers favorable economics. Fraud-related customer service calls are among the most expensive to handle, often requiring extensive investigation and remediation. By preventing fraud proactively, Synovus can potentially reduce these high-cost interactions while simultaneously improving customer satisfaction metrics.
For investors, this represents a thoughtful approach to deposit retention in a challenging environment. While the direct revenue impact may be minimal, the potential reduction in customer churn and fraud-related losses could meaningfully contribute to earnings stability - particularly valuable for a regional bank with a $7.3 billion market cap where customer retention is essential for maintaining competitive economics against larger institutions with greater scale advantages.
New benefit helps account holders prevent fraud, scams and detect money mistakes
Fraud is one of the fastest-growing financial crimes in the
“Our business is built on trusted relationships with clients, so we want to be the first line of defense in protecting them from fraud and scams while strengthening our multigenerational banking relationships,” said Liz Wolverton, executive vice president, head of consumer banking and brand experience at Synovus. “Carefull allows Synovus and our clients to stay ahead of fraud and reinforces our commitment to delivering value for our clients.”
By offering Carefull in a phased approach as a complimentary benefit to its clients, Synovus ensures that consumer-led, proactive fraud prevention is built more deeply into the everyday banking experience. The Carefull service includes oversight of bank, credit card and investment accounts for concerning patterns, signs of fraud, scams and common money mistakes. Carefull also provides identity and home title monitoring, credit monitoring and a secure digital vault for storing critical documents and passwords.
“Protecting all clients from financial threats is essential for any financial institution, but it’s especially critical for older adults, who hold
Carefull’s Trusted Contacts feature allows Synovus clients to include family members in monitoring, bringing younger generations into the banking relationship or allowing them to care for an aging parent, creating a stronger, multigenerational financial foundation for families. Approximately
“We’re committed to protecting our clients and their financial futures,” added Wolverton. “If we enable them to manage their days with less risk and a strong sense of security in a way that differentiates and delights, Synovus will continue to gain confidence from our clients and partners. And Carefull helps us do just that.”
For more information about Synovus and its partnership with Carefull, please visit Synovus Carefull Partnership.
About Synovus Bank
Synovus Bank, a
About Carefull
Carefull is the first financial safety platform designed to protect aging adults, their families, and financial institutions from elder fraud, scams, and money mistakes. Built to support the unique needs of older adults, Carefull’s proprietary AI provides 24/7 account monitoring, a suite of identity and home protections, along with expert resources to help families, advisors and FIs safeguard families’ financial well-being. Banks use Carefull to deepen relationships across generations, provide proactive protection, and enhance trust with clients navigating both aging and financial caregiving for older adults. Recognized for its innovation in financial safety, Carefull partners with leading institutions to put financial care into financial services. Learn more at GetCarefull.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250225278851/en/
Synovus
Audria Belton
Media Relations
media@synovus.com
Carefull
Becky Ross
Head of Marketing
press@carefull.com
Source: Synovus Financial Corp.
FAQ
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