Abstract:
Technology is shifting consumer behavior so fast that financial institutions and payments processors and networks are hard pressed to keep up.

It once took years for technology to alter markets and shift consumer behavior. Today those changes are happening more rapidly than ever before, and it’s unlikely that many processors, networks, or financial institutions are taking the shift as seriously as they should. Identity has emerged as the central issue for payments and account opening, but with the technology evolving so quickly, there are no benchmarks available to compare offerings and so determining appropriate solutions is difficult.