PayThink

Community banks consider customer service their big advantage against larger competitors. But that strategy may not be working.

Some cyber-risk insurance policies could prove insufficient in the event of large-scale attack.

No organization is immune to data breaches–especially small businesses without access to the same resources as larger merchants, requiring a vigorous security program that includes EMV and other protections at the point of sale.

A proposed bill would allow banks to receive a one-time tax credit for charged-off consumer debt. Banks would then donate the debt to non-profits dedicated to helping consumers repay their loans without resorting to litigation or charging interest.

E-commerce and payments companies are edging into the small-business lending territory long dominated by banks. If banks want to stay relevant, they need a simpler, speedier lending process.

Innovative branch design and technology won't win the day alone. Finding the right manager and staff is still the key factor in creating a thriving branch.

Banks that drive customers away with pre-recession practices should clean up their act or get ready for competitors to use their missteps against them.

The number of companies that have entered into the merchant cash advance business has grown rapidly over the past year, since it can provide an additional source of income beyond payment transaction fees. An industry that seemed all but dead in 2008 has re-emerged and may be stronger than ever.

Creating a more efficient way to do the same old thing isn't enough, says David Gerbino. Banks need to reconstruct some of their basic deposit products to truly innovate.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.