Although most U.S. banks offer some type of mobile channel, significant disconnects remain. For example, only about a quarter leverage mobile for account opening, or plan to begin doing so.One considerable mobile onboarding hurdle is achieving convenient, secure and compliant ID document presentation and authentication. In March, at BAI Payments Connect 2016, mobile deposit software pioneer Mitek, Read More
2015 was a transformative year that forced the incumbent financial services industry to react to several developments in payments, including disruptive innovations from non-bank financial technology (FinTech) competitors, a frenzy of mobile wallet announcements from tech titans and continuing excitement over the blockchain as a threat to traditional finance models. So what’s next in payments? What will Read More
One of the goals of BAI has always been to bring relevant information and valuable insights to executives in the financial services industry. You can see this strategic focus in action at BAI Payments Connect 2015, which is scheduled for March 2-4 in Phoenix. While we will cover a vast array of payments-related topics at this event, Read More
Can real-time payments make it in the U.S.? The Federal Reserve certainly seems to believe so and has been pushing the idea since 2013, when it released an influential white paper on the topic. In response, major U.S. banks have been discussing the matter among themselves and at industry conferences such as BAI Payments Connect 2015, where Read More
In this digital age, banks could (and should) do more to get small businesses to stop using paper checks, says panelists scheduled to appear at BAI Payments Connect 2014. “Some businesses under $2 million are being ignored by the banks,” says Tommi Sue Homuth, Jobs Act coordinator at Grayson College’s small business development center and former commercial Read More
In this fast-paced, highly mobile, Internet-everywhere world, it’s not surprising that U.S. consumers and businesses have come to expect their transactions to post in real time. And soon, industry insiders say, they might finally get their wish. Helped along by technology development and industry/regulatory leadership, the issue of making payments faster is coming to the fore, say Read More
It has become a commonplace to say that the traditional banking and payments industries need to be customer centric if they’re going to survive, much less thrive. Now, the customer-first concept seems to extend to the old debate about channels vs. devices. Some practitioners in our industry seem increasingly to define “channel” in terms of customer experience Read More
For many years, the payments business has been an important priority for financial services companies because of the impact of payments on product and customer delivery strategies and the associated robust revenue streams. The financial results of the payments business were especially important when other lines of business were experiencing intense profitability pressures – payments really made Read More
The payments news these days are filled with new developments on the mobile wallet front, from companies such as Isis, Google and even Wal-Mart, for example. Despite these early entrants, our recent mobile wallet study shows that the mobile wallet market remains up for grabs – which is good news for banks. In our online survey of Read More
