BankThink

Many borrowers will suffer unless the program, the central bank's latest response to the coronavirus pandemic, includes consumer loans issued by fintechs.

Fintech companies only think they want to be banks. Banking may seem like a natural evolution, but that doesn’t mean fintech firms should become banks, says nbkc bank's Zach Anderson Pettet.

Corporations have tapped more than $124 billion in lines in the past three weeks; rating agency says virus “could wipe out a full year of U.S. banking profits.”

The standard is playing a foundational role for banks in the transformation of their infrastructures, with the rich messaging format delivering business benefits and enabling enhanced customer propositions, says Icon Solutions' Lauren Jones.

Policymakers should abolish the new accounting standard because it could distract banks at exactly the moment they need to be focused on pulling their communities from the brink of recession.

By embracing technology such as magnetic stripe when it seemed modern, the U.S. has been slower to catch up with much newer digital innovation, argues MSTS' Brandon Spear.

Banks and credit unions should make it their top priority to pair with the central bank in distributing financial relief to small businesses, even if that means putting everything else on hold.

Losses on commercial real estate aren’t expected to be as bad as the 2008 crisis; as more cities announce shutdowns, consumers turn to online payments.

Targeted marketing efforts must go beyond explaining the functionality and instead educate consumers about all benefits that contactless can offer. Responsible communication should prioritize those who are at the highest risk for infection, says The Futurist Group's Demitry Estrin.

While financial institutions are encouraging customers to use their digital banking services rather than the branch or ATMs during the outbreak, attackers will also be looking to exploit this potential increased adoption of mobile banking and mobile payment apps, says OneSpan's Sam Bakken.