PayThink

Apple has a high-profile name and knack for revolutionizing the markets in which it operates. But consumer confusion over a myriad of mobile payment options and technologies may be a stumbling block for Apple Pay.

The debut of Apple Pay has far-reaching implications for the future of the U.S. payments system and has cast a bright light into a murky mobile wallet payments environment. Some may even wonder if Apple Pay is in fact poised to eclipse plastic card payments.

Depending on who you ask, the launch of Apple Pay was either exciting or uninspiring. The truth is far more complicated — particularly in terms of how it will impact the dynamics of Apple's relationship with banks.

Bank of America's recent mortgage settlement with the DOJ includes a number of striking admissions about its underwriting and origination process in the run-up to the financial crisis. These facts may provide banks and correspondent lenders facing buyback demands with a fresh line of defense.

It's strategic planning season, which means it's time to discuss growth, new opportunities and the future of your members' credit union.

Are you in the cloud, or are you just making use of cloud technology?

Banks have very precise metrics for measuring profits and volatility from normal risk. Shouldn't there be an objective way to measure the extreme risk that can determine whether an institution fails or survives?

Devising a risk mitigation plan — and the training and oversight necessary to implement it — requires lenders and servicers to conduct a scientific investigation into the policies, procedures and controls they already have in place.

Apple, Samsung, PayPal, Square, Google Wallet among others along with countless financial institutions and retailers are fiercely marketing their applications to enable mobile payments.

Acquisition-hungry banks and mortgage companies need to apply the same level of scrutiny to cultural fit as they do to a firm's financial statements and balance sheets.