ANALYST VIEWS

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ANALYST VIEWS

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May 21, 2018
In this age of unending data breaches, it is not surprising that identity crimes are the biggest fraud challenges facing financial institutions (FIs). In early April alone, Saks, Lord & Taylor, and Panera Bread announced that they had data breaches that went on for months and leaked millions of records from their point-of-sale systems or websites. The faceless nature of the online and mobile...
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April 4, 2018
I recently had the opportunity to attend MRC Vegas 2018 for the first time in many years. When I attended Merchant Risk Council meetings in the past, I was a fraud executive with one of the largest U.S. banks. I had found MRC to be a good event for networking and gaining a better understanding of the fraud-related concerns of the bank’s commercial clients. This was my first experience...
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March 19, 2018
Real-time payments have existed in some other countries for several years, and they are now a reality in the United States. Many financial institutions (FIs) are offering their customers the ability to send money in real time to family and friends quickly and easily and, in many cases, without a charge. New payment types are evolving—business-to-business payments as well as person-to-business...
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March 6, 2018
Once an afterthought, customer experience is now a focal point for not only banks but also their business and corporate customers. Customers consider it when selecting new bank partners and have higher expectations for it than ever before. Gone are the days when banks could use sophisticated functionality as an excuse for clunky, outdated systems and manual processes. Today’s customers—from...
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February 27, 2018
In recent years, several SWIFT member banks have been targeted by cyber fraudsters, resulting in accumulated thefts of many millions of dollars. Impacted banks in several different countries have been victimized, demonstrating that there are no borders when it comes to cybercrime and that any company can be targeted. Interestingly, SWIFT has been in the headlines broadcasting each of these...
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January 12, 2018
I had the opportunity to moderate a panel for the Digital Money Forum, an all-day session that is part of the Consumer Electronics Show (CES), this week in Las Vegas. Attending CES was a bucket-list thing for me, so I was really excited to be able to attend, and the experience was absolutely worth it. This show is huge—180,000 people were there. For those of you who think Money 2020 is a big deal...
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December 28, 2017
An article about Helocs in American Banker the day after Christmas begins with the opinion that “Americans who use their homes as ATMs are about to get hit with a sizable withdrawal fee,” referring to the removal of home equity interest deductions from income tax computations. First, any person actually taking cash withdrawals from a home equity account to meet living expenses is most likely...
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Christine Pratt
September 22, 2017
On this year’s FinovateFall stage, over 70 firms gave a seven-minute demo, of which over 15 firms touted data security tools and some 14 firms boasted data science expertise within banking or capital markets settings. After the JPMorgan and Equifax hacks, it seems that no client data is impregnable and that future data breaches are limited by the appetite of hackers. Financial institutions’ hope...
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Javier Paz
September 20, 2017
Last week’s Finovate event in NYC offered up a great mix of innovation across many areas of financial services with an added bonus for 2017. For those who have had the opportunity to attend, the initial format has not changed from the last few years; however, the event was expanded to four days this year and included multiple presentations on the use of artificial intelligence (AI) in retail...
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Kevin Morrison
August 30, 2017
The Grand Canyon is an extraordinary place, but it is one of those wonders you have to witness in person. You can see pictures and videos of it or selfies of your friends standing on the rim, but you don’t get a full appreciation for its incredible beauty until you see it for yourself. For those of us who have been in the banking industry over the last several years, the omnichannel customer...
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Kevin Morrison

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