FIS

BB&T-SunTrust merger closing could slip into 2020; how “the most feared freshman” is shaking up House Banking panel; consumers are split about trusting Amazon, Google with their savings; and more from this week’s most-read stories.

Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president.

The big payment processor/bank technology mergers that were announced early this year are officially closing, setting the stage for complicated conversions and a fierce battle for customer share.

FIS has partnered with ControlScan to give its growing number of payment facilitators’ “sub-merchants” a streamlined path to comply with the Payment Card Industry Data Security Standard.

Two of the three multibillion-dollar payment mergers announced in 2019 closed this week, and these global giants must now fend off the invigorated fintechs eager to nab unhappy merchant and bank clients.

Alexander Lopatine, who founded Nymbus and has joined Mbanq, says alternative providers are gaining the confidence of more banks. However, questions remain about their staying power in the fight with traditional vendors.

Most large banks have declared their strategies for adopting contactless cards, but the rank and file of FIS’ midsize and smaller issuers are still weighing their options about when to flip the switch.

Many CUs feel they can't compete with banks' technology offerings, but the right strategies and investments can help institutions of all sizes stand out in a crowded marketplace.

A trio of big deals in the payments and financial tech area and continued bank and venture capital interest in fintech investments are creating expectations for a banner year.

The stocks of a wide swath of publicly traded payments companies are rising faster than the overall S&P 500 index, potentially fueled by several mega mergers in the first half of 2019.