Almost 80% of merchants actively support the mobile channel overall with credit and debit cards the preferred payment method while mobile wallets are still slow to adopt. Boise, Idaho-based fraud-detection…
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Financial institutions operations continue to experience cyberattacks either directly or indirectly. The second credit-card breach in three years at Kmart has once again forced financial institutions, to deal with the…
Worldwide card purchase volume for goods and services grew 5.8 percent to over $20.6 trillion in 2016, according to the Nilson Report. This excluded cash advances on credit cards and…
Thousands of American companies including banks that do business with European customers need to reckon with EU’s General Data Protection Regulation, which goes into full effect a year from now….
MasterCard unveiled a payment card combining chip technology with biometrics to verify the cardholder’s identity for in-store purchases. South Africa served as a test market for two separate successful trials…
Many financial organizations risk falling behind as technology continues to transform financial services and transactions. Financial institutions are at a tremendous risk from disruption but some are moving to embrace…
An executive order from President Donald Trump could scale back the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. The vast piece of financial reform legislation passed as a…
What has passed for money, as a medium of exchange, has evolved through the millennia. Back in the day, exchanging sheep for coal required dragging sheep or coal around with…
Self-service, available for a long time at retail locations such as grocery stores, gas stations, and financial institutions, nowadays provides more virtually-assisted capabilities, through interactive teller machines and mobile, than…
Nine out of 10 Americans use chip cards at about a third of U.S. locations enabled to accept chip payments. In its winter 2017 market snapshot, the Princeton Junction, N.J.-based…
Summary from webinar Design Thinking for Bank Executives presented by Tery Spataro for Western Independent Bankers, February 7, 2017. There’s a lot of discussion on the use of design thinking…
A feeble worldwide economy, digitization, and regulation could significantly lessen profits for the worldwide banking business over the next three years, according to McKinsey and Company. Some $90 billion, or…
The Federal Reserve Payments Study 2016, the sixth in a series of triennial studies to estimate aggregate trends in non-cash payments in the United States, contains an early look at…
Core conversions are messy and tricky! For banks, the conversion process can be like walking a tightrope between success and failure. Strategy and planning are essential to ensure the bank’s…
Before diving into 2017, take a look back at the 2016 trends that emerged in banking. Banks got a little closer to fintechs and millennials, while mergers and acquisitions became…
The terms fintech and API are not new terms; they just signify a change in today’s increasingly digitalized financial world. How financial institutions fit into it remains unsettled. Fintech, or…
The US economy is starting to look like the Comeback Kid again. The market is recovering, even though not all sectors feel it evenly. That’s good news for banks, particularly…
At a time where fintech companies and financial institutions are touting digital payments, one report indicates that in reality, mass transit commuters are saying “not so fast” with their actions....
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Through our client engagements with major banks, payments companies, and early-stage Fintech firms, we have been addressing and advising on issues of financial services industry disruption, disintermediation, and displacement. We…
Interest Rates Will Rise Again. It’s going to happen. Sooner or later, it’s going to happen. For almost three years now, I’ve been travelling around the country telling bankers that…
Using a mobile phone to pay for a purchase at the point-of-sale is not a common occurrence in the U.S. yet. However, as more people upgrade to smartphones with built-in…
I know what you’re thinking. “Oh no, not another non-bank-alt-lender-eating-your-lunch-disintermediation sermon.” You’ve probably read three or four articles just like that already this week. It’s true: small business lending is…
Having the capabilities to distribute processes via the cloud can assist financial institutions in becoming more efficient. However, misunderstanding the cloud’s risks, regulatory oversight and proper control mechanisms can create…
According to research launched by Houston-based Cardtronics, 84% of U.S. consumers always try to keep cash on hand. While they still use digital payments, credit and debit cards, 91% of…
ATM fees set a new record high for the 10th year in a row, with the total cost of using an out-of-network ATM withdrawal rising to $4.57, according to Bankrate.com’s…
A recent study into the consumer credit card industry by marketing analytics agency Bug Insights found less than half of respondents felt loyalty to their credit card provider. Atlanta-based Bug…
Earlier this week, I had the pleasure of moderating the Payments and FinTech panel at PayThink 2016 and talking with a group of senior banking and payments leaders. Attending the…
Gain the knowledge and insights that will spark new ideas for your bank. Studies that will help your bank move into the future! Take advantage of the new pricing for Project…
The National Institute of Standards and Technology, which assesses the security of products and services in the government and private sector, recently confirmed something security professionals have known for a…
During H1 2016, industry revolving balances expanded $22.9B at an average annual growth rate of 4.9% to reach $960.8B. Balances at Top Issuers increased by $11.2B at an average annual…
One common theme unites the most successful phishing attacks over the last year- identity deception, according to an Agari report. Opportunistic cybercriminals are tapping into the wealth of personal and…
Eighty-two percent of respondents confess to a cybersecurity skills deficiency, with 71% citing this shortage for causing organizational damage, including data breaches, according to an Intel/Center for Strategic and International…
Market Commentary: 5-Year Growth at Regional Bank Credit Card Issuers During 2010 – 2015, revolving credit balances improved steadily, growing from $839.4B in 2010 to $937.9B in 2015, representing an…
Project Catalyst’s New Study is an Analysis of Bank Mergers Impact on Customers. Mergers between U.S. banks could hit the highest level in a decade this year, according to some…
China’s UnionPay is now the largest global card scheme, with a 37% share of the $21.6 trillion spent in 2015, up from 32% in 2014, and ahead of Visa (32%)…
