A recent survey by CONIX has revealed that financial institutions are looking to invest in new payment technology in 2011, according to PNT Marketing Services.
“Banks being on more stable ground has set the stage for a period of strategic business redistribution in the industry,” said CONIX’s CEO, Mike Charles. “Even while banks have been restrained on technology investment for the last 18 to 24 months, technology development has continued to advance new types of payment options, including mobile contactless payments via credit and debit card.”
According to PNT, these new payment methods will pressure FIs to also invest in upgraded data management services to prevent fraud and theft.
Major players like William Rutledge, the executive VP in charge of supervision at the Federal Reserve Bank of New York, are urging institutions to make the acquisition of risk data management technologies their top priority for 2011, superseding even new payment technology, reports PNT.
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