Where does the U.S. stand with e-invoicing?

U.S. and European governments and businesses each process almost 25 billion invoices annually with approximately 72 percent to 75 percent on paper.  Although similar in volume today, the U.S. is not positioned well to increase adoption relative to Europe and will fall behind quickly in the near future.  Converting the remaining invoices to electronic represents a significant Read More

By |2020-05-27T18:00:03-05:00November 28th, 2016|Comments Off on Where does the U.S. stand with e-invoicing?

Money in the midst of change: Three ways to drive card portfolio profitability

In 2010, the federal government passed the Durbin amendment (named for U.S. Senator Dick Durbin, D-Ill.), which essentially caps debit interchange fees. It not only limits the profitability of debit card programs but also causes many issuers to cut back or eliminate rewards programs in their debit portfolios. Fast forward to 2016, and credit card portfolios now face Read More

By |2020-05-27T18:00:05-05:00October 3rd, 2016|Comments Off on Money in the midst of change: Three ways to drive card portfolio profitability

Real-time payments for the U.S.? Not anytime soon

Rapid changes in technology have users of the U.S. financial system facing a 21st-century paradox: services such as Amazon can guarantee two-day delivery of goods, but consumers often wait longer than that for a deposited check to clear the bank payment system. An increasing number of voices in the U.S. – most critically including the Federal Reserve Read More

By |2020-05-27T18:00:07-05:00August 9th, 2016|Comments Off on Real-time payments for the U.S.? Not anytime soon

Empowering customers to fight card fraud

Card fraud is one of the fastest growing crimes impacting financial institutions. A 2016 LexisNexis report found that issuers directly lose $10.9 billion per year in card fraud, with an average loss of $5.90 per compromised card.With the threat mounting, a bank’s first impulse is often to build additional barriers to mitigate the risks of card fraud. Read More

By |2020-05-27T18:00:07-05:00August 2nd, 2016|Comments Off on Empowering customers to fight card fraud

The regulatory effect in faster payments

Handing someone a $100 bill is an instant payment. Likewise, proprietary systems such as PayPal and open, un-permissioned Bitcoin offer near real-time value transfer. For most consumers and businesses however, a leather or cryptocurrency wallet, cash under the mattress or PayPal isn’t their anchor liquidity instrument; it’s their demand deposit account (DDA). Every country has at least Read More

By |2020-05-27T18:00:08-05:00July 8th, 2016|Comments Off on The regulatory effect in faster payments

Improving bill pay for customer retention

Customers are becoming increasingly dissatisfied with the mobile bill pay experiences provided to them by banks. According to our discussions with financial institutions (FIs), only about 55% to 60% of customers are using their bank’s bill pay solutions. They are either switching to an outside app that is not affiliated with their bank or paying their bills Read More

By |2020-06-04T18:20:52-05:00May 31st, 2016|Comments Off on Improving bill pay for customer retention

Three strategies for protecting payment systems

Current payments systems are more sophisticated than their predecessors, with more functionality, higher transaction volumes and continuously operating, open environments. As banks and their partners have rapidly expanded these payments infrastructures, many have failed to incrementally grow their testing practices to keep up with the pace of change. Many are only testing a small portion of their Read More

By |2020-05-27T18:00:10-05:00May 25th, 2016|Comments Off on Three strategies for protecting payment systems

Enhancing mobile wallets with beaming technology

Despite all the excitement around mobile payments and mobile wallets, consumer adoption has been disappointingly slow. One reason is that current payment apps don’t enable “non-cash” payments and promotions, which reduce the customer incentive and benefit to use them. The value of storing credit and debit cards on a mobile wallet is obvious, but today’s mobile payment Read More

By |2020-05-27T18:00:10-05:00May 24th, 2016|Comments Off on Enhancing mobile wallets with beaming technology

Six ways to capitalize on the internet of things

$1.3 trillion: a massive sum, which represents the increased revenues and lower costs that will be created by the Internet of Things (IoT) between 2013 and 2022 in the financial services industry alone, according to Cisco. When you consider the financial opportunity in tandem with the possibilities that IoT offers to gather and disseminate information from an Read More

By |2020-05-27T18:00:11-05:00May 10th, 2016|Comments Off on Six ways to capitalize on the internet of things

Three technology innovations to change banking

In 2015, retail banking startups raised $6.8 billion in funding, more than three times the amount raised in 2014 according to CB Insights, showing a significant investment in financial technology (FinTech) innovation. Several areas of developing technologies, specifically biometrics, artificial intelligence and wearables, are poised to revolutionize everyday financial activities in the near future.Biometrics. Security is a Read More

By |2020-05-27T18:00:11-05:00April 26th, 2016|Comments Off on Three technology innovations to change banking