Opinions

Both are useful, but each has specialties in protecting different types of transaction processes, according to Rambus Payments' Andre Stoorvogel.

The technology is too geared toward consumer use and leaves businesses out of the mix, argues Matt Johnner, president and co-founder of BankLabs.

Many CUs feel they can't compete with banks' technology offerings, but the right strategies and investments can help institutions of all sizes stand out in a crowded marketplace.

New project models and the cloud can serve as an alternative to payment and financial services technology strategies that benefit larger banks more than small institutions, argues Vinay Prabhakar, vice president of product at Volante.

Successful digital transformations these days are done not as make-or-break moon-shots but as a continuing series of smaller projects, says Tata Consultancy Services' David Jordan.

Transit has pushed contactless payments in the U.K., and it will happen in the U.S. too, according to Daniel Kornitzer, chief business development officer for Paysafe Group.

The social network's GlobalCoin has the audience to be a huge currency but it may not deliver on the concept of decentralization that underpins the cryptocurrency industry, contends Richard Dennis, founder and CEO of temtum.

Financial institutions have different levels of breach protection than health care, heightening the risk, according to Brad Keller, senior vice president and program director at Shared Assessments.

Security, operational challenges and new operational requirements all make for a complex, yet necessary, transition to open banking in the age of PSD2, according to Maria Allen, global head of financial services for Unisys.

With big banks investing heavily in IT, credit unions will have to be nimble and streamlined if they hope to compete.