Opinions

When it comes to earning consumer loyalty with user-friendly mobile banking tools, everyday interactions can matter more than momentous ones.

The debate over speeding up payments transactions should consider the necessity of allowing consumers time to rethink and abort their purchases.

There is an old saying by Mark Twain, "Never let the truth stand in the way of a good story, unless you can't think of anything better." Recently, Walmart filed a lawsuit against Visa complaining the company won't let it require PINs on transactions made with chip-enabled debit cards.

Everyone agrees that electronic transactions should be as safe as possible, but a PIN mandate will not prevent online or mobile fraud.

When black market criminals use tighter security than global payment systems, you know the banking industry needs to wake up. Two-factor authentication (2FA) is now a standard practice on the ‘dark web,’ yet most banks require just one password to authorize transactions.

The nascent industry's early success will mean very little if these new companies don't take necessary steps to position themselves for the long term.

Digital transformation goes beyond digitizing processes like payments or other financial services.

Banks and nonbanks should accept that more fintech regulation is inevitable, but how far regulators go will depend in part on how well companies demonstrate they are managing risk.

Every business runs the risk of fraud, but some are more likely to be targeted than others. The customers you court, the products you sell and even the amount of time you have been in business can make you more vulnerable to an attack or more appealing to a cyber criminal.

Too many fintech companies are selling superficial products. Entrepreneurs need to start solving hard problems and offering real value.