5 threats that keep fintech execs up at night
E-commerce, mobile and faster payments are making a whole new world of experiences possible for consumers, merchants and financial institutions — but gaps linger that could hinder or even harm progress.
Poor integration, fraud, inability to handle volume spikes, user experience and a lack of interoperability among parties all stand in the way. Any latency, disconnect or financial loss turns away the users that are necessary for these new innovations to succeed.
PaymentsSource spoke about these challenges and opportunities with Randy Schmidt, chief operating officer of Houston-based ATM and online payment company CV Systems; Jack Baldwin, chairman of Omaha-based electronic payment, POS, mobile and prepaid technology provider BHMI; and Mickey Goldwasser, vice president of Glastonbury, Conn.-based payment technology company Payrailz.
Here are five of their takeaways on how to best navigate an environment that is at once fraud with risk and full of possibility.