PayThink

Banks are under significant pressure to modernize payments or lose customers to more nimble digital challengers. But regulatory obligations, which at times hold banks back from being innovative, are also the reason banks become the hero in resolving disputes over charges.

The digital age has transformed how credit unions conduct business. With 24/7 access from almost anywhere in the world, customers can complete all types of transactions through a variety of devices. It has never been easier to pay bills online, apply for a loan, set up a retirement plan, check an account balance, or receive financial advice; however, such progress and convenience often come at a price.

With the onset of the new integrated disclosures rule, mortgage lenders owe it to their companies to make sure that operations folks have the chance to get out to events and workshops that will keep them informed and updated on new industry requirements.

Fannie and Freddie should offer upfront risk-sharing options in order to give lenders an opportunity to lower their guarantee fees while encouraging more private capital and competition to flow into the secondary mortgage market.

In the race to deploy digital payments technology, small businesses have an opportunity to level the playing field with larger companies and better meet the demands of today’s consumers.

Community bank CEOs truly stand out from the crowd when they possess a contagious enthusiasm that motivates sales teams, a discerning approach to hiring and an insatiable desire to innovate.

The harsh capital treatment of Trups holdings under Basel III undoes the regulatory relief already extended to community banks that had invested in the securities.

We already know that American Express, Discover, MasterCard and Visa are on board with Android Pay. MasterCard has mooted its launch date to be ‘in the coming months.' So, the global support network is in place, but broader questions remain: Will it take on Apple Pay? How will it compare, or even compete, with Samsung’s offering?

Apple Pay's security shortcomings were likely deliberate, done with the goal of making signups and initial usage as easy as possible for shoppers. And so far, it's worked.

New York financial watchdog Benjamin Lawsky is stepping down, and his successor is likely to follow a similar strict yet innovative approach to Wall Street oversight. However, the next head of NYDFS would likely benefit from better industry relations.