5 Must-Reads: Where Are the Opportunities in Payments?

5 Must-Reads: Where Are the Opportunities in Payments?

5 Must-Reads: Where Are the Opportunities in Payments?

If problems are opportunities in disguise, this week was rich with opportunity. Just when you thought the Equifax breach was the worst thing ever, insult met injury. We plumbed new depths in info security and sized up a few different signposts in the digital landscape: upstart business banking, digital wallets, predictive analytics and online account opening. Is there opportunity lurking in these challenges? Is your credit union up to the task?

 

Equifax Has Been Directing People to Phishing Site for Weeks

Mashable

It just gets worse. Equifax has been using its own Twitter account to send people to a fake site. The site mimics the site Equifax established to help consumers find out whether their data was compromised – apparently so well that an Equifax employee mistakenly sent Twitter users the fake link eight different times. Anyone else having trust issues?

 

Why You Need to Prioritize Predictive Analytics

Payments Journal

Forecasting from historical data can only take you so far. If you want to leverage the wealth of data available to you as a financial institution, consider predictive analytics.

 

Where Is Square Aiming Its New Banking Services?

American Banker

Community financial institutions may be up in arms over Square’s banking charter application. But the payments processor doesn’t see itself in direct competition with local banks and credit unions. They’re aimed at small-business lending, something many small businesses don’t have access to.

 

Are Digital Wallets Doomed to Fail?

USA Today

Which is it? Are digital wallets gaining only minimal traction, including the flagship wallet, Apple Pay? Or are digital wallets the future of payments, with more people indicating a preference for digital payments than cash?

 

Is Your Account-Opening Process Driving People Crazy?

The Financial Brand

Most people are okay with the standard account-opening process at financial institutions. But younger, digitally-driven consumers think there’s a lot of room for improvement. How can you go about accomplishing this?