Weekly Coffee Break: Roundup of Industry News
Every week, we’ll share a roundup of industry news links because these resources have informed and inspired us. Here’s our weekly roundup of industry news:
Secrets Of The Most Productive People – A senator, a chef, four CEOs, and DJ superstar Diplo reveal how, exactly, they get the most out of their days.
WILL TRADITIONAL PAYMENT METHODS DISAPPEAR IN THE FUTURE? – A common counter argument to the move toward mobile payments is that credit cards are not broken, and that swiping or inserting a credit card works perfectly fine. And those people would be right. Credit cards are not going away anytime soon. However, subtly and surely, the plastic cards we most closely associate with payments are disappearing. Heck, there is much written about that currency will be a thing of the past in the not so distant future. Yes, we do carry less cash than we used to, but there still are times we need to have some “real” money in hand.
3 ways to combat debit and credit card fraud – One of my family members recently experienced debit card fraud where a scammer stole her card information and went on a $5,000 shopping spree in the span of an hour and a half. How the scammer got ahold of her information is unknown, but she quickly contacted her bank to notify them so the necessary steps could be taken to prevent the scammer from making additional purchases on her account. Her bank incurred the loss, increasing her loyalty to the brand. Meanwhile, her bank’s bottom line took a $5,000 hit…but it could have been even more had the fraud not been detected within 1.5 hours of use.
What Fintech Gets Wrong About Mortgages – When will fintech infiltrate the mortgage industry the way it has other financial services?
It already has and is creating a problem, warned Andy Pollock, senior managing director of the consulting arm of Clayton Holdings in Shelton, Conn., who quickly jumped on that question during a question-and-answer session at National Mortgage News’ Mortgage Servicing conference in Dallas last week.
3 Ways Same-Day ACH May Change Credit Unions – The advent of same-day ACH this fall will likely mean credit unions and other financial institutions will encounter more fraud, more strain on their budgets and more operational challenges, according to a new survey by the New York City-based software firm NICE Actimize.
Are Fintech and Community Banks a Perfect Match? – It was a fintech conference, but a decidedly different one. Nearly everyone was wearing a jacket, there were no “master senseis,” and only one person mentioned APIs by name.