Opinions

The most effective way to avoid cloud payment breaches is by dramatically reducing access, says CloudKnox Security's Balaji Parimi.

Analytical technology will be key for firms looking to appeal to the next generation of customers. Having come of age in the midst of the 2008 financial crisis, secure personal finance is extremely important to this generation, says Axis Communications' Stephen Joseph.

ISO 20022 allows banks to generate greater amounts of standardized data to provide targeted insight, says Icon Solutions' Lauren Jones.

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.