Opinions

Lenders can offer deferred payments and capitalize on digital banking to help small businesses and consumers get back on their feet.

Payments infrastructure integrations create the backbone for front-of-house retail, back-of-house inventory, supply chain, and warehousing, says Global Payments' Frank T. Young.

With access to comprehensive and accurate financial data delivered through advanced APIs, financial services providers no longer have to develop personalized experiences themselves, argues Envestnet's Brandon Rembe.

With branches closed and fewer opportunities for credit unions to have in-person interactions with members, the pandemic has reiterated the need for digital transformation in the industry.

The trend toward cashless is inevitable, and could be accelerated by current events. But a gradual transition is key to avoid alienating those people who depend on cash as their primary payment method.

New features and improvements often take a back seat to security, says Entersekt's Claudius van der Meulen.

Digital payment firms and fintechs are nimble and responsive, but that also creates web supply chain attack risk, says Jscrambler's Rui Ribeiro.

When a business accidentally pays an invoice early, due to inaccurate due dates, a change to the delivery date or some other issue, everything changes, says Celonis' Southard Jones.

Leveraging AI and machine learning can help credit unions focus on doing what they do best: forging connections with members.

The standard is playing a foundational role for banks in the transformation of their infrastructures, with the rich messaging format delivering business benefits and enabling enhanced customer propositions, says Icon Solutions' Lauren Jones.