Unintended Consequences of Regulation, Part “n”

MIF1I must admit, I lost count how many times we at Celent have written and talked about unintended consequences of regulation. This is the latest installment. As most people know, PSD2 has introduced new card multilateral interchange fee (MIF) limits in Europe. Debit card transactions across Europe have been capped at 0.2% of transaction value, while for credit cards, the limit is 0.3%. […]
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Solving the Fintech Vendor Due Diligence Conundrum

Vendor Management GraphicBanks are ultimately responsible for all of the services that they provide, even when they contract with third parties to help them deliver those services. More and smaller banks are partnering with outside providers, and there are more and smaller third parties being formed to meet more specific bank needs. While there’s even a section […]
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Mobile banking adoption growth is slower than you think

1In March of this year the Federal Reserve released the newest iteration of its consumer survey report on mobile banking, Consumers and Mobile Financial Services 2016. One fact that sticks out is how slow mobile banking adoption has been over the last few years.  While 53% of smartphone users have used mobile banking in the […]
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Passwords Suck – Bring on Biometrics!

@Pay's Sought After T-shirtNow that I have your attention. Let me be clear: I hate passwords, particularly when they are increasingly required to be longer, more complex and frequently changed. Apparently, I am not alone in this sentiment. At a conference in 2015, a small start-up, @Pay, a low-friction mobile giving platform, offered attendees a free t-shirt in […]
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Brexit. Eventually. Possibly.

What did Britain say to its trade partners? See EU later. It’s been a funny week or two to say the least, so it seemed apposite to start with a joke (and we’re not talking about the England vs Iceland result! – the Icelandic commentator is worth a 30sec listen.) The UK woke up to […]
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External Forces Affecting Global Transaction Flows: Is the Payments World Becoming Flatter?

External ForcesIn his 2005 book titled The World Is Flat: A Brief History of the Twenty-First Century, New York Times reporter and author Thomas Friedman famously wrote about the impact of technology on globalization, the result of which is a truly global economy with unprecedented flows of investments, goods, and ideas. This trend has continued, despite […]
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EBAday 2016: A Brave New World for Payments

EBAday 2016 LogoHosted by the European Banking Association and Finextra, EBAday attracts payments professionals from leading financial institutions and technology providers. This year’s event was held in Milan Italy with the theme, “A Brave New World for Payments.” Sessions focused on the dilemma facing the payments industry – enhancing existing payment models while preparing for alternative payments […]
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Taking the ‘Madness’ out of Customer Onboarding

March MadnessEarlier this year, I had the pleasure of moderating a panel discussion on the topic of omnichannel customer onboarding sponsored by Kofax. It was a heavyweight panel, including: Jim Marous, Co-Publisher/Author, The Financial Brand JP Nicols, Director, Next Bank Brant Clark, Sr. Director, Mobile Solutions, Kofax, Inc. Kofax is making a recording of this informative […]
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Are You Ready for Cardholder Transaction Alerts?

Quite a few issuers around the world already offer transaction alerts to their cardholders. They find them a helpful tool to reduce fraud, reduce false positives (i.e. unnecessary card declines), and strenghten their engagement with customers. However, in a few months, this will no longer be optional for issuers in the US. Effective October 14, […]
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