When I attended FinovateFall in September, I was struck by its palpable energy. Not only was it the most well attended Finovate to date with roughly 1,800 attendees and 64 participating companies, it was a widely collaborative conference, converting what had once felt like a competitive environment into one of enablement.
Despite ICBA’s persistent communications on the negative impact of Durbin Amendment interventions on payment card systems, this latest iteration of Durbin only compounds the prior harm and furthers the misguided policies of the past that will inevitably lead to significant disruption in credit markets and consumer spending, if passed.
The COVID-19 pandemic altered customers’ expectations and the way they operate within the banking and finance sector, two presenters said Aug. 16 at the inaugural VenCent Fintech Summit held in Little Rock.
Everyone, including big tech and social media players, want a super app. That’s according to a 2022 Accenture Banking report, which underscores that the threat is real.
Faster payments have arrived. Accelerated by the pandemic, the growth in digital and contactless payments has pushed consumer and business expectations toward the real-time movement of money.
Buy now, pay later or BNPL, is the latest cautionary payments tale for community banks. Much like digital wallets, its appeal—with instant gratification and integrated payment at checkout—has taken hold with Gen Z and millennials.
Last month Google unveiled its new Google Pay app—complete with a DDA-like account attached. This latest effort by Google is part of a trend of non-bank tech companies wading into payments territory.
For community banks, the digital-first nature of today’s world creates an opportunity to forge deeper connections with existing customers, while attracting new customers
From having to adapt to retail closings, diminished staff and customer capacities, a new work-from-home infrastructure, and more, the nation’s small businesses have reacted quickly in the wake of the pandemic.
Central Payments, the payments arm of the $238 million-asset Central Bank of Kansas City (CBKC) never imagined that a few days into their Falls Fintech accelerator program, they’d have to transition to a fully virtual experience. But due to COVID-19, that’s exactly what happened.
Back in 1985, the first Macintosh computer debuted, and by today’s standards, it was a boxy, clunky, slow unit, yet Consumer Reports gave it a glowing review and cited the mouse and use of icons as technological breakthroughs. This demonstrates a key point: 35 years is a long time when we consider the rate of technological change.
In celebration of ICBA Bancard’s 35th anniversary, I sat down with our Chairman Greg Deckard, president, CEO and chairman of State Bank Northwest to reflect on key milestones that have led to the organization’s success.
With the pandemic representing a turning point in payments, community banks must take steps now to embrace digital channels without sacrificing the personal support customers expect from their community bank relationship.
Despite numerous warnings from the FBI, IRS and others, fraudsters are capitalizing on the pandemic to take advantage of consumers, highlighting the importance of community banks in supporting their customers in their battle against this opportunistic fraud.
The technologies community banks have deployed over the past decade—from mobile apps to remote deposit capture to contactless cards—mean that today, we can continue to access our finances, anytime, anywhere—even within the confines of our home.
The coronavirus outbreak is raising concerns about the use of cash as more Americans embrace digital technology to pay and get paid. These ongoing trends will have a significant impact on community bankers, consumers, retailers, and policymakers.
Community banks continue looking for ways to grow loan volume and improve the customer experience in the process. In today’s digital era, that means simplifying the front-end user interface and user experience as well as streamlining back-end operations.
From concerns about Libra to the development of the Federal Reserve’s FedNow real-time payments settlement service, policymakers are poised for action on behalf of their government, business and consumer constituents.
After years of ICBA-led advocacy on behalf of a real-time payments system that ensures access and choice for community banks, the Federal Reserve has announced that it will build a real-time gross settlement service.
