TThe World Retail Banking Report 2019, published Oct. 29, 2019, by Capgemini and Efma builds a case for new, inventive banking models that bridge the divide between banks and “BigTech players.” Banks must collaborate with startups to remain relevant in the evolving financial ecosystem, researchers found.
Sankar Krishnan, Capgemini executive vice president and author of The Power of Mobile Banking, published by Wiley in 2014, noted that the evolving financial services environment requires high scalability, high security and high throughput monitoring to predict losses and errors before they happen. Open APIs and banking infrastructures facilitate these capabilities, but banks must become more agile and innovative and offer more digital services, he stated.
By Dale S. Laszig
SSecurity leaders found collaborative energy and focus at the PCI Security Standards Council's 2019 annual community meetings in North America and Europe. In his European keynote, Lance Johnson, PCI SSC executive director, emphasized unity and said that in a rapidly changing environment, "stakeholders can be certain that industry participation, evolution, alignment and consistency will be constants in the council's efforts to provide standards and resources for securing payment data."
In this week's podcast Ben Trombley describes how his firm, Encytro, helps ISOs and MLSs grow revenues through a merchant data security and chargeback reimbursement program. Patti reports on the ongoing need to protect against POS hacks. And James offers advice on overcoming barriers to productivity and profitability.
Company profile from GS191102
IIn 1987, Patrick Hong launched BankCard Services, which is headquartered in the South Bay region of Los Angeles County. Founded to meet the needs of the Korean American niche, BankCard Services has since grown to serve a multi-ethnic market through its 14 U.S. locations. It now targets Asian-American businesses, which are mostly Korean, Chinese, Japanese or Vietnamese owned.