Despite their promises of greater efficiency and enhanced customer service, payments hubs have not gained much traction in the past decade. But as the economy recovers, and as banks realize their compliance value, investments in payments hubs are likely to pick up.
Following Visa's push for the adoption of EMV in the U.S., bankers are debating whether the standard will emerge from the mix of innovations in the payment space as the next widely adopted domestic payment solution.
Amid recent announcements of debit fee retractions from major banks, Javelin's Beth Robertson discusses why Bank of America has taken the brunt of the public scorn for its fee announcements and how financial institutions can better offset losses while maintaining customer relations.
Shawn Swartout, VP and security director at Spokane, Wash.-based Sterling Savings Bank and Ben Knieff, director of product marketing and enterprise fraud prevention expert at NICE Actimize say that managing customer relationships is key to a successful security strategy.
Industry experts say that the introduction of debit fees by big banks such as Bank of America echoes a trend that extends beyond the banking industry -- one that is causing customer dissatisfaction and drop-off.
After a year where IT budgets grew (albeit modestly), will banks be spending less, more or about the same on technology in 2012? Let us know how your budget is shaping up by participating in a Bank Systems & Technology survey.
The banking industry survived, the 9/11 terrorist attacks, only to be confronted in 2008 with the challenges of the global financial crisis. Both events, along with some key technology developments, shaped the financial services industry in which we work today.