By Alyssa Arredondo
After major data breaches — like the 2018 attacks on Marriott, Facebook, and Macy’s — merchants aren’t the only ones forced to take action. Consumers and financial institutions are often left to pick up the pieces by having to cancel payment cards and retake control of their financial data, causing strains on members, customers and institutions.
December 27 — The state of payments is constantly evolving, and this past year has brought several major trends that will impact the direction of the industry for years to come. These major developments also point to the trends we anticipate will be the biggest drivers in payments for 2019.
A new era of customer expectations means adjusting to the new norm.
By Bob Gibson
It’s a time of transition for community banks as they modernize their core systems and physical branch locations to improve profitability and better serve customers. The ubiquity of mobile technology and all that can be done “virtually” has forced these banks to rethink how they interact with customers and design their physical branches.
December 5 — In a digital-first world, the importance of cash within the payments ecosystem remains strong based on the many unique features of the tried-and-true greenback.
By Mark D. Smith
November 20 — Not very long ago, financial institutions (FIs) completed their final ATM upgrades to Windows 7 with a sigh of relief. Now just a few short years later, FIs are facing another costly and time-consuming upgrade to Windows 10 by January 14, 2020 or face the same security risks they did with the Window 7 migration – no updates, no patches, no technical support, PCI non-compliance, increased operating costs, possible performance issues and more.
With a growing threat of malware and cyberattacks, no FI can afford to do without the necessary security updates which are vital to secure ATM operations.