There were four frequently made predictions by
industry experts, financial institutions and technology providers at the
beginning of 2019, according to the recent Digital Banking Trends Progress
Report from D3 Banking Technology.
“Even though we’re only halfway through, 2019
is shaping up to be another wild ride in financial services,” said Mark Vipond,
CEO of D3. “In 2019, banks and credit unions must focus on consolidating and
streamlining their platforms and leveraging modern technology that helps them
better understand their customers’ and members’ needs.”
By Thomas Hoenig
I was surprised to see Bill Poquette’s editorial (BankNews, May 2019) channeling the Bank Policy Institute’s assertion that The Clearing House deserved a monopoly for real time payments in the United States. The idea that only TCH should provide this service and that competition from the Federal Reserve banks or others would hinder progress is wrong and inconsistent with over 100 years of experience. As he notes, the Bank Policy Institute is an instrument of TCH banks, and making public policy decisions from its viewpoint would adversely affect the payments system for decades to come.
More businesses are taking advantage of what a commercial
card program can offer, with over one-third (35 percent) of respondents
utilizing travel and expense, procurement card and virtual card products,
compared to the less than 20 percent last year, according to Capital One’s 2019
survey at the annual NAPCP Commercial Card & Payment Conference.
Although one in three people say
The majority of consumers (71 percent) find good credit card offerings important when choosing a financial institutions for everyday banking needs, according to a recent consumer survey by Austin, Texas-based Kasasa.