Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Javelin reports 10 trends shaping banking in 2010
PLEASANTON, Calif. (1/13/10)--What's in store for financial institutions, including credit unions, for 2010? Javelin Strategy and Research outlines 10 trends that will shape banking, payments and security this year. Financial institutions will struggle to cope with a hobbled economy, wrenching regulatory changes, mounting fraud threats and limited innovation budgets during 2010, said the Pleasanton, Calif.-based research group. But opportunistic financial institutions that take steps now will be on the cutting edge of person-to-person payments, embrace innovations from alternative vendors, tighten security vulnerabilities and serve up real-time data that will be in increasing demand in an era of "always-on, anytime, anywhere" banking, Javelin says in an overview to its report. The 10 trends for 2010 are:
* Regulatory backlash will force banks to re-evaluate their business model. * Financial services software platforms open up for application development. * Prioritizing investments becomes more critical as hard times hinder innovation. * Person-to-person (P2P) payments will hit it big in 2010. * Merchants will demand increased power in the transaction market. * Cloud (Internet) apps will regenerate interest in federated identity (single sign on for multiple applications). * Real-time data becomes essential as always-on integration takes hold. * Encryption, tokenization (substituting random proxy numbers or tokens for senwsitive cardholder data during a transaction) and EMV (smart cards) will offer more security for card payments. * PIN integrity will be challenged in 2010 as fraudsters' sophistication increases. * The social Web is the new frontier for fraud.
Other Resources

RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
4 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
6 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
7 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
7 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
7 hours ago