BankThink

The approach of many payment and financial services companies to security is still stuck in the 20th century. But luckily, firms of all sizes can choose to travel in time to 2016.

The cryptocurrency ecosystem operates on the fringes of tradition, with "initial coin offerings" announced, discussed and carried out largely via online forums and without regulation. The phenomenon is high-risk and should be treated as such.

Credit scores are useful in predicting the likelihood of whether someone will repay a loan. However, banks and others need to provide customers with another number that more accurately assesses their financial health.

More Stress Ahead ... From the Fed and Brexit

People and businesses expect access to their money and payments in real-time, and electronic funds transfers such as Fedwire and Swift transfers offer a convenient way to send payments to vendors, clients and partners rapidly.

Marketplace lenders have been declaring "FICO-free Zones" and playing down the need for the longstanding measure of creditworthiness. FICO CEO Will Lansing explains how the company's score is evolving and why he believes FICO remains the best (not necessarily the only) way to determine ability to repay a loan.

The legislation to reform the Dodd-Frank Act promotes the idea that the best defense against another crisis is simpler, higher capital requirements, not prescriptive regulations.

Federal regulations — including the FFIEC's recent mobile security guidelines — have not kept pace with mobile innovation and the security risks users face from smartphone banking platforms.

Supreme Court Punts on Debt Collector Lawsuit

Since consumers find EMV cards frustrating and difficult to use, EMV may do more to promote NFC as the preferred payment method among consumers and business owners.