PayThink

Banks are utilizing an array of overlay services to address historical market challenges, such as the continued use of checks among businesses that do not have the information or capabilities to send digital payments.

For too long, nonbanks have been allowed to form industrial loan companies to operate as banks without Fed oversight. This regulatory pass should not be given during a crisis.

Cross-border payments do not and should not exist in a vacuum, says Veem's Marwan Forzley.

If bankers have learned anything from treading a pandemic, it’s that providing personal services at the moment of need has become even more essential than it was before, says Jack Henry's Tede Forman.

As demand for secure and seamless digital payments increases, financial institutions must prioritize a digital-first payments strategy that incorporates the latest trends, says CSI's Matt Herren.

The key word is "temporary" with the FHA's quality control waiver expiring and not likely to be renewed.

As more payment enterprises embrace the ecosystem model, we will continue to see a shift toward composable and dynamic operations flows supported by an engineering-first approach and a smart digital core, Andres Ricaurte of Mphasis says.

One way banks can prepare for a smooth cutover to new standards is by implementing a core banking / payment solution that uses ISO 20022, says Infosys Finacle's Peter Ryan.

Legislation that would force transparency around company ownership would be better than another burdensome anti-money-laundering rule.

Business size and payment volume all play a role in what's needed for compliance, says 2Checkout's Madalin Cojocariu.