The OCC continues to cite third-party risk as one of the biggest risks facing the U.S. financial system. I recently sat down with Venminder’s Chief Risk Officer Branan Cooper to dig deeper into this topic, how the political environment in Washington is shaping it (or not), and what those working in financial services can do to improve third-party risk management, whether they work at a bank or at a third-party service provider.
Coming off a 17% increase in loads in 2016, the open-loop prepaid market in Canada reached another milestone in 2017—loads hit nearly CAD$4 billion. The industry gathered at the CPPO’s 2nd Annual Prepaid Symposium last week to talk about what comes next and where Canada can take the lead.
With prepaid accounting for only about 5 percent of card spend in the U.S., the industry has plenty of room to grow. And that growth, according to experts at the NBPCA's annual conference, is likely to come from new features, new products, new channels (IoT) and new partners.