Opinions

Companies like Ally are mimicking the approach of fintechs by curbing overdraft charges and instituting other changes. It is a sign that startups’ efforts to improve customer experience were successful and that competition in digital-first banking will intensify.

An app that strives to be a "one-stop shop" for all money matters is likely to please nobody.

Companies that put in place procedures and technology to analyze data from phone calls, emails, chats and other communications can help front-line workers avoid repeating customer service mistakes.

The revenue that banks earn from these loyalty programs provides a substantial offset to potentially shrinking interchange fees.

Just 6% of banks say they're using cloud computing, artificial intelligence and other technologies to improve efficiency and maximize performance. Here's what the other 94% should be doing.

The IRS and Justice Department waged a successful campaign to crack down on UBS and other Swiss banks for facilitating tax evasion. Coinbase, Kraken and other crypto exchanges should take note.

Banks should favor the development of U.S. data rules that let them freely share consumer information with, and receive it from, fintechs. The alternative, where banks merely send data to third parties for a fee, would be less competitive and less beneficial for all parties.

Criminals' efforts to steal identities and take over accounts have become increasingly sophisticated. Banks must upgrade their mitigation processes, which can be held back by antiquated systems and organizational silos.

The government helped the gas pipeline operator recoup some of the funds it paid to cyberthieves, but that's unlikely to happen often. Banks should shore up password security to minimize risk and be willing to reject hackers' demands in the event of a breach.

Financial firms can minimize the damage by understanding where key threats lie, educating employees and customers about phishing scams, and breaking down silos between compliance, fraud and security teams.