In the News

"Most merchants would likely prefer that purchases be made without a checkout process to save on costs and improve the customer experience," said Tony DeSanctis, a senior director at Cornerstone Advisors, "but I am not sure we are ready just yet for a fully checkout-less experience."

Apiture, a leading provider of digital banking solutions, today unveiled new research in partnership with Cornerstone Advisors about financial institutions’ ability to manage data effectively.

"This is a big opportunity for international commerce," Tony DeSanctis, a senior director at Cornerstone Advisors, told American Banker. "Because the time, currency risk, and cost of international transactions can be mitigated using dollar-denominated stablecoins, this represents a sizable opportunity for international transactions."

"The checkout and shopping process are full of friction," said Tony DeSanctis, a senior analyst at Cornerstone Advisors. "In a world where I can just tell an AI to buy me my groceries, pay my bills, or even search for the best deals on a specific ticket, flight, item, etc., payments could become completely automated, even beyond mobile wallets today."

"I'm skeptical of new mobile wallets because very few folks cannot get their needs handled by Google Pay, Apple Pay, PayPal, or ShopPay," said Tony DeSanctis, a senior director at Cornerstone Advisors."I'm not sure there is a real market for more solutions in the space."

Banks can ensure that there are measures baked into their contracts to protect against widespread outages of critical services, said Tony DeSanctis, a senior director at Cornerstone Advisors.

"While outsourcing BaaS is the most efficient route, it's not always the best route, says Elizabeth Gujral, a director at Cornerstone Advisors. “Efficiency” isn’t the only metric anymore, with the increased regulatory scrutiny, brand risk and operational complexity that come with BaaS and 
third-party partners, Gujral says."

Smaller banks and credit unions need to understand the competitive impact on them, according to Tony DeSanctis, senior director at Cornerstone Advisors. "Capital One will be able to launch a debit card solution that will be competitive — perhaps even more competitive — than what most community banking institutions can launch because they will be exempt from the Durbin Amendment."

Ron Shevlin, chief research officer at Cornerstone Advisors, credited Myers with sensing the direction the small-business loan market was heading. "It's a testament to [First Savings'] ability to understand its strengths and stay committed to a market opportunity that was out there."

"I would argue that the platforms themselves, Apple and Google specifically… are the differentiated functional experience that most folks are looking for, and that all of the other apps and capabilities that are built in are inherently addenda to that solution," said Tony DeSanctis, a senior director at Cornerstone Advisors.