PayThink

With the right focus and a little bit of pre-work, many companies can leverage ISO 20022 as the new global standard, writes Kate Risch Choi, a senior product manager for treasury and payment solutions at BMO Harris Bank.

Contrary to the view of some, technology has not rendered the Community Reinvestment Act obsolete. But everyone seems to agree that it should be reformed.

Banking lobbies are still opposed to the Durbin Amendment, which would hurt a free market, writes Mark Horwedel, CEO of the Merchant Advisory Group.

Where existing money and payment systems are wanting, mutually consenting adults are resourceful in finding ways to transact, notwithstanding government restrictions.

As payments guru David Birch notes, multiple currencies spur competition and innovation, and can reduce stagnation, writes Eric Grover, a principal at Intrepid Ventures.

Distribution methods are constantly changing and being altered so that the maximum amount of people can gain access to these unregulated currencies, writes Mariam Nishanian, a representative at Dentacoin.

The gulf between those at the upper ends of the wealth ladder and lower-income Americans has worsened markedly since the financial crisis, despite the trillions of subsidies that taxpayers provide for housing.

Removing friction across channels and payment types not only leads to a transformative digital banking experience, it also helps ensure those positive outcomes translate to business success for financial institutions, writes Mark Little, senior user experience researcher for digital channels at Fiserv.

Knowledge picked up from the best customer-facing staff should be delivered by AI systems in a contextual manner at the right place and the right time to handle customer queries in the age of digital commerce, writes Anand Subramaniam, senior vice president of worldwide marketing for eGain Corp.

In times of economic stress, customers tend to flood the U.S. banking system with deposits. But the leverage ratio penalizes banks for conducting this core banking function.