BankThink

As the market deals with the short-term challenge of getting trillions of dollars of relief and stimulus payments into the hands of citizens in the coming weeks and months, we as a country have a unique opportunity to put our unbanked and underbanked citizens on a long-term path to electronic payment methods, says FIS' Jim Johnson.

Lawmakers delayed the new accounting standard as part of the stimulus package, but they shouldn't let bankers persuade them to eliminate it outright.

As phishing and other attacks mount, a personal ID number can act as a second authentication factor, says LogRhythm Labs' James Carder.

Wall Street trading arms benefited from first-quarter volatility, but it may not be enough to salvage future earnings; “unprecedented volume” of customers logging into their online bank accounts creates system overload at many banks.

While the primary focus for most credit card providers in March was on emphasizing fee forgiveness and payment deferral support, moving forward issuers need to focus on a mix of strategies to retain their cardholders' share of spend, says The Futurist Group's Demitry Estrin.

As Amazon and e-commerce companies in parallel broadened their adoption rates, they further trained consumers to expect a frictionless and speedy checkout process, says Grubbrr's Bhavin Asher.

The SBA’s Paycheck Protection Program is nearly depleted, but there are ways small banks and fintechs, with help from Congress, can remedy the situation.

The two U.S. banks set aside a combined $10 billion for future loan losses, which may not even be enough; a proxy firm says the Swiss bank did not adequately punish former executives for spying scandal.

The benefits of virtual payment cards go beyond replacing physical cards and eliminating social contacts. Payment vendors that manage these virtual cards can also create branded cards and portals for companies, says Berkeley Payments' Jonathan Hamburg.

The industry was already on a path toward increased digital services, but the global pandemic is showing why CUs need to speed up that process.