ISO & Agent

It’s a time of challenges, but fraud teams who adapt well to them will strengthen their systems, and their understanding of their customers and their business, says Identiq's Urid Arad.

ISO 20022 allows banks to generate greater amounts of standardized data to provide targeted insight, says Icon Solutions' Lauren Jones.

Payments infrastructure integrations create the backbone for front-of-house retail, back-of-house inventory, supply chain, and warehousing, says Global Payments' Frank T. Young.

With access to comprehensive and accurate financial data delivered through advanced APIs, financial services providers no longer have to develop personalized experiences themselves, argues Envestnet's Brandon Rembe.

The trend toward cashless is inevitable, and could be accelerated by current events. But a gradual transition is key to avoid alienating those people who depend on cash as their primary payment method.

New features and improvements often take a back seat to security, says Entersekt's Claudius van der Meulen.

All financial institutions are now in the decision mode of being a "fast follower" and joining the Clearing House scheme, or being a "patient follower" and waiting for the Fed, writes Icon Solutions Gene Neyer.

Address verification, geolocation and 3-D secure can all play a role, according to Chargebacks 911 and Global Risk Technologies' Monica Eaton-Cardone.

Digital payment firms and fintechs are nimble and responsive, but that also creates web supply chain attack risk, says Jscrambler's Rui Ribeiro.

When a business accidentally pays an invoice early, due to inaccurate due dates, a change to the delivery date or some other issue, everything changes, says Celonis' Southard Jones.

Fintech companies only think they want to be banks. Banking may seem like a natural evolution, but that doesn’t mean fintech firms should become banks, says nbkc bank's Zach Anderson Pettet.

The standard is playing a foundational role for banks in the transformation of their infrastructures, with the rich messaging format delivering business benefits and enabling enhanced customer propositions, says Icon Solutions' Lauren Jones.

By embracing technology such as magnetic stripe when it seemed modern, the U.S. has been slower to catch up with much newer digital innovation, argues MSTS' Brandon Spear.

Targeted marketing efforts must go beyond explaining the functionality and instead educate consumers about all benefits that contactless can offer. Responsible communication should prioritize those who are at the highest risk for infection, says The Futurist Group's Demitry Estrin.

While financial institutions are encouraging customers to use their digital banking services rather than the branch or ATMs during the outbreak, attackers will also be looking to exploit this potential increased adoption of mobile banking and mobile payment apps, says OneSpan's Sam Bakken.

The impact of the virus and mitigation measures will contribute to an increase in payment disputes, says Chargebacks 911 and Global Risk Technologies' Monica Eaton-Cardone.

Today’s consumers increasingly live in a world of customization, and their expectations mirror the need for a seamless consumer experience that addresses their personal preferences, says Envestnet/Yodlee's Brandon Rembe.

The most innovative fintech solution may be debit, which is already integrated into digital-first experiences in a way that’s fresh and exciting for the consumer, says Meta Financial Group's Matt Withey.

Over the next few weeks, U.S. businesses with online platforms might be tempted to relax fraud controls to free up potential friction – they shouldn’t. It could mean major fraud hits.

The processes and standards in place to ensure our payment cards are robust, secure and work in harmony with the rest of the ecosystem are given little spotlight, but they’re invaluable to the payments world’s smooth operation, says Fingerprints' Lina Andolf-Orup.