PayThink

Despite some criticisms of the strategy, community banks should continue to pair up with fintech companies that can help them expand their digital offerings.

A lack of standardization increases costs and complexity at each bank, opens the door to insecure solutions and hinders adoption by software developers that only have bandwidth to write to one or two open APIs, according to Steve Kirsch, CEO and founder of Token.

Once regarded as a safer option for consumers, BOPIS (buy online and pick up in store) has now joined the ranks of targets that cybercriminals are learning to exploit. It comes down to correctly identifying the shopper, writes Ryan Wilk, vice president of customer success at NuData Security.

All service providers, even those with a strong security posture, are only as secure as the Home Depots, LinkedIns and Equifaxes of the world, argues George Avetisov, chief executive of HYPR.

The rise of AI, high-frequency trading and other complex activities is all the more reason for policymakers and financial executives to sharpen their understanding of science, technology, engineering and math.

By intelligently applying friction, where the entry of a PIN or a swipe of the screen can be used to correlate against known data, we can better prove that the correct user made the transaction and avoid the costs and disruption associated with fraud and disputed claims, writes Zia Hayat, CEO of Callsign.

International banks are also having to adapt to a raft of regional payment and data regulations that impact their operations in certain territories significantly but in others only negligibly, according to Russell Bennett, chief technology officer of Fraedom.

Banks need to be prepared for increased regulatory scrutiny as they adopt artificial intelligence technologies.

In this highly competitive environment, catering to the unique needs of each customer is more important than ever, writes Matt Clark, president and COO of Corcentric.

BluCurrent CU launched video banking in 2012 in the hope new technology would be cheaper long-term than additional staffing, and the credit union has seen strong growth as a result.