PayThink

Merchant service providers need dynamic cybersecurity assessment tools to identify the key areas of risk in their portfolio in near real-time, says ZeroRisk's Neira Jones.

Without rollbacks of existing anti-money-laundering reporting requirements, a measure designed to make Bank Secrecy Act enforcement more risk-focused would do little to ease banks' regulatory burden.

The quick adoption of financial technology, coupled with remote work, requires firms to focus on internal innovation as well as customer-facing advancements.

The Federal Reserve and other central banks deciding whether to compete with private cryptocurrencies should heed the financial stability risks, such as expanding the economic power of governments and altering longstanding payments models.

Fraud detection and prevention technology must align with clear return policies and strong customer service ensuring that confused but loyal and well-intentioned customers can continue to purchase from merchants, says Ravelin's Mairtin O'Riada.

Bankers say the federal tax exemption for credit unions costs U.S. taxpayers $2 billion each year. But eliminating it would prevent the not-for-profit financial institutions from channeling their savings into higher rates and lower fees that stimulate commerce — and generate additional tax income.

Issuers should use the next year to build their own card program, tailored for their market's specific needs, says Zeta's Bhavin Turakhia.

Long after the pandemic is finally behind us, the many security and financial benefits owners, management companies and fans alike receive from having the technology in place will remain too invaluable to ignore, says Corsight's Rob Watts.

Mainstream attention to crypto and active projects mean it's time to have a strategy for CBDCs, says R3's Todd McDonald.

Accounts payable is one of the most paper-intensive business functions, with lots of room for more environmentally sound processing, Daniel Ball of Medius says.