BankThink

By learning from the struggles that resulted from Wells Fargo’s outages, the rest of the financial world can improve its own disaster recovery plans, writes Todd Matters, chief architect and co-founder of RackWare.

In the emerging ecosystem economy, merchants will need to provide a seamless buying journey for customers. That means everything from a dynamic user interface and smart authentication to contactless payment options for faster transaction times, writes Paul Perry, a contributor for the technology company Relay.

Community and regional banks may not be able to outspend their larger rivals, but they can be more nimble in implementing the necessary culture change.

The bank said it will look outside the company for a replacement; HUD alleges the social media giant allowed real estate firms to target groups in their advertising.

Once Apple looked at the state of its existing ecosystem, it identified a space it could uniquely deliver on, and activated the partners needed to make it come to fruition — a perfect example of the concept of ecosystem enablement, argues Frank Kenney, director of market strategy for Cleo.

The internet giant's planned gaming service may create an omnichannel model for banks to emulate.

As more national banks leave smaller communities and focus on large customers, fintechs are creating an "Uber effect" with an easier experience. Small businesses are increasingly looking to borrow money and fund their growth initiatives, and need a partner who can deliver, argues William Phelan, president of PayNet.

More attention should be paid to strategically preventing and mitigating problems that harm bank reputations.

With its expanded capacity and reliability, 5G will drive innovation in mobile, online and branch services for credit unions.

Swedbank fires its CEO as New York State DFS probes alleged money laundering; the underperforming unit will be overseen by CEO Jes Staley.