PayThink

For the U.K. payments industry to be in the best position to succeed, keeping consistent with compliance to both U.K. and EU regulations will be critical, says Ecommpay's Paul Marcantonio.

Two decades ago, before Jamie Dimon & Co. towered over the industry, the sale of JPMorgan to Chase Manhattan was seen by some as the downfall of the most prestigious U.S. bank. In a new book, Nicholas P. Sargen, a former economist there, offers a cautionary tale of a management team that did many things right yet failed to avoid a takeover.

As the digital transformation journey accelerates the need for more collaborative, agile and tailored solutions between banks and fintechs becomes essential, says MYHSM's John Cragg.

Incumbent banks’ market position is underpinned by strong consumer trust and massive scale, but these historic advantages can no longer be taken for granted, Simon Wilson of Icon Solutions writes.

The move toward a cashless economy in China reveals a boom in actionable data, says Azoya USA's Franklin Chu.

Like their counterparts in the U.K., U.S. regulators should be working closely with the private sector to establish principles and guardrails to direct and focus tech advancements in ways that will protect consumers and financial stability.

There are ways to remove bad actors from the industry — such as reinstating the Consumer Financial Protection Bureau’s payday lending rule and banning certain fees and collection practices — without hindering consumers’ access to emergency credit.

With this sudden and swift shift that is generating thousands more digital payment transactions per day than even just a few months ago, the opportunities for fraud are rising exponentially, says the FIDO Alliance's Andrew Shikiar.

Credit unions were already transforming their home loan operations before COVID-19, but many of the adjustments made as a result of the outbreak are likely to become permanent.

By purchasing additional assets and securities, the Federal Reserve provided the financial markets with enough liquidity to weather the pandemic recession. But with the economy starting to recover, it needs to reduce such funding before it creates dangerous bubbles over the long term, say two former bankers.