Technology

Two of the three multibillion-dollar payment mergers announced in 2019 closed this week, and these global giants must now fend off the invigorated fintechs eager to nab unhappy merchant and bank clients.

If Bank of America had decided a few years ago to end its joint venture with First Data, it would have been looked upon as just another instance in which a bank was either planning to handle its own payments in-house, or turning those tasks over to a processor.

To address users’ privacy concerns, secure data and avoid litigation or fines while delivering a competitive customer experience, financial institutions must adopt a customer digital identity and access management (CIAM) strategy, says ForgeRock's Ben Goodman.

As management teams meet to set their priorities, there is a range of issues, including consolidation, cybersecurity and succession planning, that will likely come up.

Community banks shouldn’t wait for the Fed to create a new real-time payments rail when consumers are already flocking to other options.

The hack prompts renewed concerns about security of data held in the cloud; lawmakers acknowledge that Facebook’s proposed Libra cryptocurrency could have applications for law enforcement.

Amex's multi-merchant rewards coalition, Plenti, may have failed, but ExxonMobil never gave up on the program's potential.

The Fed's involvement will inject competition into the market and offer merchants choice as they weigh their payments acceptance options, argues John Drechny, CEO of the Merchant Advisory Group.

Financial institutions welcome regulatory feedback on their fintech offerings, but the industry wants the agency to waive enforcement for approved products.

The ongoing availability of stolen account information used to perpetrate vishing and phishing was exacerbated by the Capital One data breach disclosed this week, affecting 100 million accounts, and is likely to increase fraud threats.