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Displaying 61 - 70 of 134 payments_and_industry_trends blog posts

  • Omni-Channel's Biggest Challenge

    Drowning in Data? Or Thirsty for More? Omni-Channel’s Biggest Challenge

    Friday, March 17, 2017

    There is no doubt that retailers recognize the value of knowing their customers better. Whatever the merchant sector, geography, or business model, understanding customer buying habits, payment and channel preferences, and satisfaction levels can drive sales, boost customer loyalty and raise revenues. But, in the ever-changing world of the omni-channel shopper, how easy is it to really know your customer?

    The single biggest key to this challenge is data – and lots of it. Not just ‘big data’, but smart, consolidated big data – and this only comes from the ability to bring massive amounts of information together from multiple sources, and analyze it to build a comprehensive picture.

  • Loan servicing trends: 9 surprises

    9 Surprising Loan Servicing Trends

    Thursday, March 16, 2017

    “Think like customers, not like lenders” was my motto during my 30 years as a lender. But it’s getting tough. Customers are changing faster than ever.

    We recently worked with Aite Group on an extensive study to learn more about how customers view and pay their loans. The billing and payment experience is the top driver of loan servicing satisfaction. So focusing here will create more smiling customers.

    We learned that one VP increased customer satisfaction by 50 percent through enhancing his company’s billing and payment experience*. Could 2017 be your year to make big jumps in customer satisfaction? 

  • Is payments your core business?

    Are Payments Your Core Business? And, Should You Care?

    Thursday, March 09, 2017

    You know you are getting old(er) when you start reminiscing about the past, longing for better and simpler times. Are you thinking, with nostalgia, of those bygone days when payments were simple? With four party models, ‘digital’ meant card or wire transfers, banks and their processing partners provided secure but not-too-fast payments, and payment revenues accounted for 33 percent of banking revenues. If your answer is ‘yes’ to the previous question, then you are probably not a millennial.

  • Blockchain for retailers

    Blockchain for Retailers: Producing Real Business Benefits

    Wednesday, March 08, 2017

    When I read about blockchain, I typically come across three use cases: cross-border payments, security issuance and digital currency. These have all been proven to work—and they are also finance-related. But the payments ecosystem includes a lot more than just financial institutions. This post explores the potential impact that blockchain will have on retailers and their value chain.

  • delorean-open-payments

    “Roads? Where we’re going we won’t need Roads” - Open APIs and Financial Services

    Monday, February 13, 2017

    The word ecosystem is often used when discussing payments. Whether it’s to describe how a payment is made or to discuss a partnership or even understanding your place in the value chain. Though part of the issue with how we present the ecosystem is that we tend to emphasize only small portions of the overall picture, that is to say if we are discussing payments to a merchant or retailer, the picture shifts to just show eComm, mComm and POS while partially ignoring the Financial Institution, and to a lesser extent the FinTech’s domains. But those days may be coming to an end as we have begun the transition to a new payments ecosystem.

  • PSD2 Regulation Will Bring Down the Walls, Not Build Them

    PSD2 Regulation Will Bring Down the Walls, Not Build Them

    Friday, February 10, 2017

    The Payments Services Directive 2 (PSD2) is shaking up the industry, and for good reason. There is sometimes a tendency for the payments ecosystem to expect doom and gloom when it comes to new regulation; seeing it as restrictive, unnecessary interference, or costly. The reality is that PSD2, along with other regulatory changes across Europe and the world, offers a massive opportunity for all participants in the payments ecosystem to carve out new revenue streams.

  • Connected-devices

    Connected Devices are Opening Up New Forms of Payments and Partnerships

    Wednesday, February 08, 2017

    Of all the trends that are currently shaping – or re-shaping – the nature of payments, none is more significant than the rise of the Internet of Things (IoT). We often talk about the payments ‘ecosystem’ and the complexity that exists between the many participants that are part of this ecosystem, but this complexity will expand exponentially as millions – no, billions – of devices become internet capable.

  • Driving Toward Innovation in Digital Banking User Experience

    Driving Toward Innovation in Digital Banking User Experience

    Friday, February 03, 2017

    The need for delivering on a user experience strategy necessitates the use of common and sometimes confusing lingo like CX, UX, information architecture, UX design and UI design. It introduces ways to gain deeper understanding of customers through methods like personas, journey mapping and Kano analysis. It commands phrases like customer-centric, experience-driven, and ideation/visioning. In the past 4 months, I have interviewed more than half a dozen agencies to engage one that could go beyond the buzzwords and the methods described above. I want to be convinced that great and meaningful changes can happen to UI’s. After all, talk is cheap.

  • ACI Worldwide Survey Validates Growth in Mobile and Omni-Channel Retail

    ACI Worldwide Survey Validates Growth in Mobile and Omni-Channel Retail

    Wednesday, February 01, 2017

    During this year's National Retail Federation (NRF) Retail's BIG Show, ACI Worldwide conducted a survey of more than 100 retailers in attendance. The results of the survey highlight how retailers see an increased reliance on both mobile and omni-channel retail solutions to meet consumers’ evolving buying habits.

  • FinTech Payments are Open for Business

    FinTech Payments are Open for Business

    Friday, January 27, 2017

    Another year has begun, and how appropriate to kick it off with my 2017 expectations for FinTechs. There are always exciting technological innovations afoot in the FinTech space, but this year it’s all about Open; open technologies, open partnerships, and open customer choice. The New Payments Ecosystem has its foundations in open practices, and this in turn is changing how payments players work together to meet customer needs.  So what does this mean for FinTechs?