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Why Community Banks Can’t Afford To ‘Wait and See’ About Faster Payment Innovations

PYMNTS

In late July, the Federal Reserve Faster Payments Task Force released its much-anticipated report on how to strengthen and operate the U.S. However, if recent developments in the financial services industry are any indication, innovation waits for no institution, company, agency or, for that matter, Fed report. faster payments system.

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How Credit Unions Drive Member Engagement

PYMNTS

In Europe, strong customer identification (SCA) guidelines will shift checkout flows for transactions. based credit unions in operation as of January 2019. 300 million: Approximate number of consumers who will need to confirm their identities through two methods under SCA guidelines. All this, Today in Data.

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Commanders In Chief: Why The Pace Of Innovation Is A Good Thing

PYMNTS

That’s the question Brian Dorchester, EVP of Operations at First American Payment Systems , explored in this week’s Commanders In Chief series. The industry, he noted, was fairly stagnant for about 15 years before the more recent wave of innovation swept over the space. Security comes first, said Dorchester.

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Pandemic Gives A Lift To Voice Assistant Technologies

PYMNTS

That trend was particularly pronounced among older “bridge millennials,” who on average owned six separate connected devices, not counting their phones. According to PYMNTS’ latest consumer data on the subject, 47 percent of millennials have shifted their routines online, while 45.1 percent of bridge millennials have done so.

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Prepaid’s Summer Of Uncertainty

PYMNTS

These products are, in fact, the underpinning for pure play digital banking services offered by innovators like Chime or Green Dot. And for some consumers, especially millennials, that’s just not their choice.” Who Uses Prepaid Anyway? “The lines become very blurry,” Fauss told Webster.

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Environmental Solutions Using Analytics

FICO

To achieve this, they've clearly stated that any bank, any insurer or any investor or other financial firm needs to have policy around how they manage their operations and investments to get to this net zero state. in costs and an impressive 1,580 metric tons of emissions once its operations are fully optimized.

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Banking Shift: 3 Ways the Debt Industry is Changing

Banking 2020

These are the hallmarks of a mature industry, one that isn’t expected to demonstrate extraordinary technical foresight and innovation. Furthermore, the CFPB is expected to give clear guidelines on using SMS, email, and social media in debt collections. However, change is coming.