PayThink

There have been various media reports about some of the security shortcomings within Apple Pay. The shortcomings are not security holes per se, in the sense that a hole is generally unintended. No, the security issues were deliberate, done with the goal of making signups and initial usage as easy as possible for shoppers.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including the debate over how to expand access to mortgage credit and the dangers and opportunities presented by large-scale corporate data mining.

Local Government FCU doesn't negotiate with its employees or prospective employees on salary, a practice that some might find off-putting, but the CU says it's all about preventing an adversarial environment.

Same-day payments will be a big improvement for business-to-business transactions, but banks are still bound to lose market share to technology firms that are taking the complexity out of the payments process.

Nacha recently announced a rule change allowing for same day ACH payments. This decision was a heavily debated throughout the industry for several years.

Facebook's new Instant Article service for publications underscores the competitive threat that the site's business model poses to banks. There's one particular feature that should have banks worried: because Facebook's primary interest is ad income, product pricing is of secondary importance.

It's certainly true that as customers conduct fewer basic transactions in branches, those branches will see reduced foot traffic. But branches will remain relevant so long as they have helpful and intelligent people determined to help customers manage their finances.

Another year brings another attempt by Google to develop the winning formula that will allow it to compete long-term in the mobile payments war.

Big data has the potential to help people save money, improve their lifestyles, treat existing ailments and prevent new ones. But it's up to the business sector to earn the trust of consumers and lawmakers.

The "too big to fail" problem can't be solved with living wills and orderly liquidation. Rather, a structural solution is needed to reduce the size of mega-institutions.