PayThink

As competitive pressures mount for midsize banks, more institutions are likely to follow the lead of BB&T-SunTrust and amass more resources for investing in AI, digital platforms and other cutting-edge technologies.

Financial institutions that participate in state-administered EBT programs have a unique opportunity to put more money in the pockets of the nation’s neediest by eliminating surcharge fees on their ATMs, writes Kim Bynan, a senior vice president at FIS.

An initiative by Visa and Lloyds doesn't go far enough and is counterintuitive to the card network's move to reduce cash, argues Mark Horwedel, a strategic consultant to CMSPI.

Policymakers should continue to simplify requirements, so that banks and regulators alike can focus on the most important measures of stability.

An overwhelming amount of transactions can cause noncompliant payments to fall through cracks. New technology such as AI can be helpful, says Josephine McCann, a senior marketing associate at AppZen.

A proactive and preventive security strategy will go a long way to building consumer trust and ensuring continued loyalty, writes Maria Allen, global head of financial services for Unisys.

With regulators and policymakers studying their every move, financial institutions need to put more focus on preventing mistakes in the first place.

Regulators have taken a critical look at AML controls and handed out significant fines to financial institutions found to be lacking, according to Chad Hetherington, global vice president of professional services for NICE Actimize.

In addition to conducting monetary policy and regulating banks, that the EU’s central bank should try to “drive innovation” in payments, writes Eric Grover, a principal at Intrepid Ventures.

With heightened scrutiny from regulators and the public for wrongdoing, financial institutions need to put more focus on preventing mistakes in the first place.