The media works itself into a frenzy. After all, everyone loves lists, and who doesn’t want to be happy?

If you are an American, it’s damn depressing.  Yet again, the report finds we’re not the happiest country by far, and worse yet, says we keep getting less happy. People under thirty are apparently very unhappy.  The NYTimes headline says, “Americans are unhappier than ever. Solo dining may be a sign.”

Don’t blame it on the election.

Every year, Gallup surveys around 1000 people in every country for the report. It asks them to rank how happy they are on a scale of 1-10. Then, the surveys for the preceding three years are pooled to get the score for the current year. It compares the scores across countries. The 2025 report combines 2022, 2023 and 2024. 

You’ve probably seen the headlines. Finland is the winner for the 8th year running.

This leads to lots of stories about what Americans and everyone else can learn from the blissful Finns. It’s a great tourist draw. Finland promotes master classes to Find Your Inner Finn. It seems to involve taking a lot of saunas.

Hold on, folks: it is time to rethink that trip to Helsinki. And maybe say “Aloha” instead.

Cheer Up, America

To begin with, why should America, with a diverse population of 340 million people, spread across 50 states, from sea to shining sea and then some, compare itself to a place with 5.6 million people on a sliver of land?

Finland is one of the 27 Member States of the European Union. The EU has 449 million people, which is more than the U.S., but in the same football stadium as large jurisdictions go.  EU citizens can live and work anywhere in the EU just like U.S. residents can in the U.S. Next to India, the EU is the largest democracy in the world.

A fairer comparison would be between the U.S. and the entire European Union. And guess what happens then?

The U.S. is the WINNER!

America Wins Two Most Happy Awards

The U.S. posted a happiness score of 6.724, beating the EU at only 6.610. It also beat India, which came in at 118 with a score of 4.389. We topped the two largest democracies in the world!  (The EU score is a population-weighted average of the individual Member State scores.)

America wins the Happiest Large Democracy Award.

Now, a difference of 0.114 might seem like a whisker. In the WHR approach, though, that can be many differences in rankings — and bragging rights.

The U.S. also leads the world’s superpowers. It trounced Russia at 5.945 and China at 5.921, to win the Happiest Superpower Award.

You cannot beat the U.S. if you want to live in the happiest superpower or one of the three largest democracies.

Americans Could be Happier, but they Aren’t Less Happy

Much of the media coverage for the 2025 WHR talks about how unhappy Americans are getting even less happy. 

That’s not true based on data for 2021-2024.

The U.S. scored 6.724 in the 2025 WHR rankings and 6.725 in the 2024 WHR rankings.

Those are arithmetically and statistically virtually indistinguishable.

In fact, according to the WHR surveys, Americans were just as happy in 2024 as they were in 2021.  To see why, we need a detour into moving averages. 

The 2025 and 2024 three-year averages have 2022 and 2023 in common. The 2025 score swapped out 2021 for 2024. The score barely changed, meaning the scores from the 2024 and 2021 surveys must have been virtually identical. 

(The U.S. scores were trending down before 2021 and an inspection of the moving averages suggests that was a big drop in happiness between the 2020 and 2021 surveys, which has persisted.)

Find Your Inner Finn or Get the Aloha Spirit?

Yes, Finland is the happiest country on Earth with a whopping score of 7.736 — more than a full point ahead of the U.S. on the 10-scale.  Before you pack your bags to find your inner Finn, you might want to see if you can find happiness closer to home.

If we’re going to compare Finland to the United States, why not compare it to an individual state?

We expect a lot of variation in happiness across U.S. states, just as there is across EU Member States.  According to the WHR 2025 report, Greece was one of the unhappiest countries in Europe. It came in at 5.776, which is almost two full points below Finland, and almost a full point below Germany.

Unfortunately, the WHR report lumps the U.S. states together.  It does the same 1,000-person survey for the entire U.S., with 340 million people, as it does in Finland, with 5.8 million people.

A study based on 2008-2017 data, however, found that many U.S. states had a higher level of happiness than Finland and other Nordic countries.

 Two economists combined 1.9 million Gallup survey responses for the U.S. and 3.5 million for other countries and crunched the numbers. (See my 2024 happiness article for more details.) They supplemented the 10-step measure the WHR survey uses with several other positive and negative indicators of happiness — such as, did you enjoy your day yesterday and were you in pain yesterday.

Aloha! The happiest state was Hawaii. U.S. states captured 9 of the top 10 spots. Finland was down at 51 right behind Connecticut.

Of course, the study is dated. It is still likely, though, that Hawaii ranks much higher in the U.S. on the happiness charts and may even still be happier than Finland. World Population Review scores U.S. states on a scale from 0-100 based on 31 metrics.  It documents the same tremendous variation in happiness as we saw in the EHR for the EU. The state scores varied from a low of 30.0 to a high of 68.7.

So maybe you should ditch the sauna and try a luau.  Instead of finding your Inner Finn, get the Aloha Spirit. 

The Science of Happiness (Or Lack Thereof)

In the 1950s, American physiologist Ancel Keys noticed that people in several relatively poor Mediterranean countries with similar diets had much better health outcomes than those in wealthier countries. This led to his ground-breaking seven-country study. It confirmed the health benefits of following what we now call the Mediterranean diet.

Other observational and randomized studies confirmed his findings.  If you follow the diet, you are likely to have a longer and healthier life than if you eat a meat-heavy diet. This research led to practical results based on rigorous research. 

If you switch from a typical American diet to a Mediterranean diet, you will add years to your life. Whether you’ll be happier with fewer burgers and fries, I can’t say.

By contrast, the happiness rankings are about as solid as the latest self-help book or diet fad.

Measuring happiness by asking people to rank it on a 10-point scale is sketchy, as I showed in my article last year. The economists who did the 2008-2017 study found that the rankings changed a lot when they simply supplemented the 10-point question with other positive and negative indicators of well-being. 

Mexico’s happiness rankings make you wonder what’s going on.  Mexico has shot up the happiness scale in the last three years from 6.330 to 6.979, vaulting from 36 to 10th place with the Nordics in its sights.

That burst of happiness must mean their score for the calendar year 2024 was off the charts to pull the 3-year averages up that much.  Yet Mexico ranks 76th in GDP per capita (adjusted for purchasing power).

There is no scientific basis for concluding that Americans should be more like the Finns.  No serious researcher would claim that you’ll be happier if you buy a sauna, move to Finland, or take Inner Finn classes. Or that Greeks should have luaus or move to Mexico.

Naked with Strangers, or a Walk with the Dog

According to the Finnish ambassador, one reason Finns are so happy is their “weekly sauna sessions.” He even uses them for diplomatic meetings in DC: “When you are half-naked or even sometimes completely naked, it allows for deeper discussion.”

I don’t know about you, but I’d rather throw on a loud Hawaiian shirt, head to Maui, and try a luau. Better yet, take my dog for a walk after a healthy dinner of fresh fish and veggies — fully clothed, thank you very much.

Dr. David S. Evans is an economist who has published more than 10 books and 200 articles, many related to entrepreneurship, platforms, and the digital economy. He is Chairman, Market Platform Dynamics and Managing Director, Berkeley Research Group. He has taught at the University College London and the University of Chicago Law School. For more details see davidsevans.org.

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But as PYMNTS CEO Karen Webster pointed out at the beginning of this week’s Washington Weekly conversation with QED Investor Amias Gerety, this Monday (April 7) just might be the most manic yet. A menu of stiff tariffs was introduced on Wednesday, April 2, and the stock market, along with most economist guidance for the balance of the year, went south almost immediately. In fact, on this most manic of Mondays, Gerety might have uttered a candidate for the greatest understatement of the year when he told Webster: “Not since the financial crisis have people needed to pay this close attention to the news. And I must tell you, figuring out tariffs is not a good extracurricular activity for CEOs.”

But it is the reality. As of this writing, the Dow was off 700 points, and the watercooler talk had turned to a 90-day tariff postponement, which the White House later said was “fake news.” For FinTech companies, especially those considering public offerings, the impact has been especially pronounced. Gerety, a former assistant treasury secretary in the Obama administration, noted that many FinTech firms poised to enter the IPO market have abruptly reversed course or put plans on indefinite hold. This shift marks a significant disruption for these companies, which view IPOs not just as milestones but as crucial events for raising capital and fueling aggressive expansion.

“IPOs are not the destination,” Gerety said, “but they are a massive capital formation moment. It empowers companies that go public, allowing them to be more aggressive, to acquire companies, hire more, and lower their cost of capital. All these benefits are going away.”

FinTech Growing Pains

Gerety emphasized a clear divergence in advice given to FinTechs based on their stage of growth. Early-stage companies, he noted, should stay narrowly focused on customer acquisition and product development, largely insulated from macroeconomic uncertainty. “The early stage, the classic advice is you’re so small, the only way you win is by winning,” Gerety said. “Get the next customer, make the next great product, delight the next consumer. That’s the only thing you can do. It’s the only thing you should do.”

Late-stage FinTech companies, however, find themselves in a starkly different situation, grappling directly with the consequences of market upheaval and the collapsing prospects for IPOs. In terms of capital raising, the current climate demands adaptability. Gerety suggested that while exceptional companies can still attract capital from patient, long-term investors, the broader market has significantly thinned. High-profile FinTechs such as Klarna and Chime, both sizable enterprises with revenues in the billions, now face limited opportunities to secure additional funding.

“These are big, real companies,” Gerety said, “but can they be aggressive right now? No. Everyone’s sitting on their hands and saying, ‘Let’s wait and see.’”

The Uncertainty Factor

Uncertainty, according to Gerety, remains the critical element undermining financial services. By their nature, financial institutions rely heavily on stability to provide loans, extend credit and make long-term investments. Current conditions make it difficult for businesses to make long-term commitments, whether building factories, expanding supply chains, or launching major projects. “Financial services need certainty,” Gerety said. “If you’re planning for 10 or 14 years, uncertainty is devastating.”

As companies approach earnings season, investors and executives brace for troubling guidance. Gerety expected sharp downward revisions in forecasts and increased volatility. Although first-quarter results may appear stable due to prior benign conditions, they now bear little predictive power given the swiftly altered economic landscape. Major financial institutions, including JPMorgan, have already adjusted their forecasts toward predicting recessionary conditions.

“Q1 was still a benign environment,” Gerety said, adding, “but the environment has changed dramatically, and even guidance will reflect that heightened uncertainty.”

Despite the turmoil, Gerety finds one potential silver lining. As he and Webster mused,  this crisis is self-inflicted. And by nature, it could, theoretically, be reversed swiftly. However, the damage in terms of global trust and long-term economic positioning could take longer to recover.  Even if tariffs were reversed immediately, Gerety cautioned, the U.S. has already signaled unpredictability, prompting global partners to reconsider alliances and investment strategies.

“Even if tariffs were to evaporate tomorrow,” he noted, “it would still change economic arrangements worldwide. Europeans, South Asians and Latin Americans are already reconsidering their investments, pushing closer to competitors like China.”

Gerety concluded that while the U.S. economy is strong enough to weather storms, the unnecessary volatility introduced by tariffs has deeply damaged investor confidence, disrupted markets, and potentially triggered a recession. The damage will leave lasting scars on the economy. “We have real competition in industries like electric vehicles, and we should be uniting with global democracies and allies,” Gerety said. “Instead, we’ve disrupted essential partnerships, inadvertently driving our allies closer to economic rivals.”

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There is no doubt that the past five years have presented unprecedented challenges to the financial services world, primarily stemming from the pandemic. Since that time, we have all navigated the years that followed with new approaches, mindsets and perspectives. In Duncan Wardle’s words, we have returned to “business as unusual,” and those who failed to adjust to post-pandemic shifts or innovate accordingly have likely learned the importance of being nimble and open to change.

In keeping with Wardle’s core tenets of encouraging innovation and growth, we at Velera actively seek to shift the “no, because …” mindset to a “yes, and …” approach, both internally and in our interactions with our credit unions and other industry stakeholders. Internally, this transformation is driven using innovative tools and collaborative practices that empower our teams to say “yes” to opportunities and challenges while building on them with the solutions at our disposal.

A prime example is our Strategic Portfolio Management (SPM) tool, which enhances transparency and capacity management by automating labor tracking, billing and reporting processes. This innovation allows teams to focus on finding ways to meet credit union needs rather than highlighting barriers. Similarly, the introduction of our self-service Project Management Page, powered by ServiceNow, enables credit unions to manage onboarding and project management more efficiently by viewing project demand and active project requests in real time — and all in one place. Credit unions benefit from improved transparency and collaboration through the use of this engagement tool, which also paves the way for further generative artificial intelligence (AI) integration.

Importantly, Velera uses a collaborative approach to develop new solutions and foster continuous improvement. Through interactions with our Advisory Councils, Co-Creation Collectives and client focus groups, we are able to address client concerns not with a definitive “no, because” response, but instead with a solution-focused response. This approach also enables us to build solutions and services not just for our clients, but with them, enabling a collaborative journey.

On the service side of Velera’s business, we implement Wardle’s core tenet of asking “what if” every single day. A pivotal “what if” that Velera is considering as we close out 2024 and look ahead to 2025: “What if we began to leverage AI as a core driver for future innovation and efficiency across our organization?” Like many, Velera is carefully and strategically integrating AI capabilities across our business, led by Velera’s Strategic AI Advisory Council, which guides our exploration and investment in the technology.

In the ever-changing landscape of the financial services industry, “what if” is an ideology that any innovative organization should adopt and integrate within its daily discussions. It’s a question that drives almost everything we do at Velera, from determining how to best implement AI into our business to evaluating other exciting opportunities and innovations to come.

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One way U.S. Bank is moving from a “no, because …” to a “yes and …” mindset is by breaking silos and empowering teams to see the whole person. Until you see the totality of a customer, you cannot understand their stresses and needs or offer the right solutions. We are also investing in re-skilling teams in new ways of working that encourages and incentivizes that behavior.

To bring about that change for our customers, we are recognizing who they are, identifying what they need or hope to get our help, and then, in a highly transparent way, providing them solutions that are real-time and personalized.

Using Technology to Embrace an Innovation Mindset

The technologies that will move the payments and banking industry to an innovation mindset are exciting ones for us. This includes any technological shift that creates trust outside of the banking and payments framework but enables similar features and benefits. When others can do what people have looked to banking to do for hundreds of years with equal trust, faster speed, better experience and more readily available portability and control, it is a wake-up call. Questioning foundational beliefs through reflection and honest self-assessment is more necessary than mindset shifts.

Our customers have embraced new technologies that will push us to innovate to stay relevant. We must embrace the change while protecting our customers from the risks.

The ‘What If’ Question

We ask “What if …” every day. Our business launching is an example of what you can accomplish if you just have the tenacity to stick it out.

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The evolution of cross-border money movement, especially over the last few years, has been shaped by shifting consumer behaviors and needs, an unannounced global health crisis, technological advancements and the rapid rise of eCommerce. It’s safe to say that innovation is no longer optional, especially in a world characterized by change. One of the strongest and most effective ways to enable innovation is to pinch an idea that works elsewhere and apply it to your business. This “what if” approach is what led to the birth of TerraPay, and nearly a decade later it is what continues to drive our outlook toward the challenges we’re committed to solving. After all, there was a time when the word instant was not associated with cross-border money transfers. The commitment to innovate and challenge the status quo brought that vision to life. Our ambitions as a global money movement company also stem from this commitment. We asked ourselves: if an SMS can reach anyone, anywhere in the world, instantly, cost-effectively, without any interruptions, why can’t money?

Of course, the complexities are compounded when it comes to cross-border money movement. But within these complexities are the biggest opportunities to reimagine how money flows.

One of the strongest opportunities that has stood out for us is digital wallets. Over the last decade, digital wallets have fundamentally altered the financial landscape, bringing millions of unbanked and underbanked into the formal financial system. They have proved to be especially important for instant small-value cross-border transfers, which as we have witnessed over the years, are often far more critical in nature. By 2026, wallets will have 5.2 billion users globally, with transaction volumes predicted to exceed $12 trillion. The numbers reflect the massive impact of wallets, but I believe they also urge the financial industry to recognize the opportunity in waiting. How can we bring cross-border capabilities to digital wallets across geographies? What does the future of payments with wallets at the center look like? Where can we leverage collaboration to create a win-win situation for every stakeholder? Our joint initiative with Swift and our Wallet Interoperability Council (WIC) — founded in 2024 together with Airtel, bKash, M-PESA, Nequi and Sama Money — are the result of exploring such questions. Putting collaboration at the core, both these initiatives align with our vision to simplify global money movement for all. WIC aims to address interoperability and interconnectivity challenges, enabling users across the globe to make cross-border remittances and merchant payments more easily. Our Swift collaboration allows banks to cater to the rising demand for instant payments with wallet-based cross-border payment services, supporting their innovation efforts.

As the global appetite for digital and instant payments grows, we need to collectively rethink how we can build a stronger ecosystem. This demands working together as an industry to shed limiting beliefs and solve the existing obstacles facing the payment landscape today including the lack of interoperability, regulatory, integration and infrastructural challenges across multiple markets and more.

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At Boost Payment Solutions, innovation has always been our foundation. We thrive on a “yes, and …” mindset, constantly asking, “What if?” to explore possibilities and drive meaningful change. Guided by curiosity, collaboration and a commitment to pushing boundaries, we refuse to be confined by traditional methods or legacy processes. Instead, we continuously seek smarter, better ways to create value for our customers and partners.

This mindset starts with our people. We prioritize hiring individuals who are not only skilled but inherently curious and driven to challenge the status quo. For us, innovation isn’t disruption for its own sake — it’s about reimagining what’s possible to solve real-world challenges. By fostering a culture where assumptions are questioned, ideas are welcomed and collaboration is key, we’ve created an environment where transformative thinking thrives. Empowered to ask “what if” daily, our team brings fresh perspectives and groundbreaking ideas that drive meaningful results.

For our customers, innovation begins with listening. As an “ears first” organization, we know our customers understand their businesses better than anyone else. By identifying their challenges, pain points and goals, we create bespoke solutions that streamline operations, reduce friction and deliver measurable value. Listening isn’t just about solving immediate problems — it’s about forming meaningful, lasting partnerships that empower our customers to innovate, thrive and grow. Through collaboration, we ensure that our solutions are not only practical but transformative.

In the broader payments and banking landscape, a new mindset is imperative. Inertia — the tendency to cling to familiar systems and processes — remains a significant barrier to progress, especially in large institutions. Yet, with the emergence of younger, digitally native decision-makers, this is beginning to change. These leaders, raised in a digital-first world, are more open to exploring new ideas and embracing technologies that drive efficiency and innovation. This generational shift presents a unique opportunity for companies like Boost to deliver forward-thinking solutions that resonate with this evolving audience.

Another question, a close cousin to “what if,” that is constantly in the mix at Boost is, “why not?” It’s a mindset across the organization and serves as a companion force to drive innovation. Together, these questions — “what if?” and “why not?” — form a powerful combination that challenges assumptions, inspires action and opens new possibilities.

For example, our cross-border payments solution, Boost 100XB, emerged from asking, “What if global B2B payments could be as seamless as domestic ones?” and following that with, “Why not?” This led to the creation of an industry-first solution enabling enterprise businesses to use existing U.S.-issued commercial cards for payments to suppliers in over 180 countries. By continually challenging ourselves, we ensure that innovation remains at the heart of our business while making our customers’ lives easier.

This shift from “no, because …” to “yes, and …” is more than a cultural adjustment — it’s a necessity for organizations looking to thrive in today’s rapidly changing world. At Boost, this mindset fuels everything we do, from empowering our team to how we partner with our customers. It’s how we’re shaping the future of payments and delivering solutions that truly make a difference.

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At Stax, we are committed to fostering growth and innovation, not just for ourselves, but for our partners and merchants. Following two strategic acquisitions and the addition of several key experienced leaders, we’re evolving into a true end-to-end payments processor and partner. Central to this evolution is embracing a “yes, and …” mindset — focusing on collaboration to unlock greater value.

A core area of transformation is how we leverage the vast data resources at our disposal. Historically, we have not leveraged this tool in a way that can be shared with our independent software vendor (ISV) partners and potentially even their merchants. Now, we are moving to empower our ISV partners with actionable insights in real-time from our data ecosystem. This collaborative approach enables them to create innovative solutions that enhance their offerings while driving mutual growth.

To achieve this, we’ve prioritized master data management (MDM) as the foundation for innovation. By standardizing and consolidating our data, we’re creating a single source of truth — eliminating silos and ensuring consistent, reliable insights. This unified data ecosystem enables our partners and their customers to make better-informed decisions, unlocking opportunities for growth across the value chain.

Another transformative force is artificial intelligence (AI), which we are integrating to enhance efficiency and uncover hidden patterns in complex datasets. By adopting a “yes, and” approach with AI, we can:

• Identify unexpected correlations, such as emerging customer behaviors or market trends, to refine technology and improve the partner experience.
• Enhance predictive capabilities, allowing us and our partners to make smarter business decisions.
• Deliver advanced analytics that empowers ISVs to build smarter applications and offer more valuable services.

These efforts are designed to not only drive technological innovation but also address the real needs of our partners and merchants. For example, in conversations with existing ISV partners, we discovered an opportunity around enabling our ISVs to offer miscellaneous billing services on behalf of their customers. We recognized the increasing demand for flexible billing solutions that cater to a wide range of their needs. By empowering our ISVs to handle one-time charges, custom invoices and other unique billing scenarios, we can significantly enhance their value proposition and strengthen their customer relationships. This initiative could unlock new revenue streams for our ISVs while streamlining billing processes for their customers, creating a win-win situation for all stakeholders. 

As a company, asking “what if” is integral to our culture. It ensures we continually challenge assumptions and explore new ways to support our partners and customers. By following through on these questions, we’ve discovered new approaches to shared success — moving beyond a “no, because …” mindset to one that prioritizes possibilities.

In the payments and banking industry, embracing this mindset shift is vital. Technologies like AI, advanced data analytics and real-time processing are key to enabling it. But innovation isn’t just about adopting new tools; it’s about adopting a culture of curiosity, collaboration and execution. At Stax, we believe this approach drives not only our success but the success of those we serve.

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The financial services industry has experienced a significant transformation over the past few years — digital payments have surged, AI has become commonplace and real-time payment systems are growing exponentially — all due to the rise of FinTech and pandemic-driven behavior shifts. Fostering a culture of innovation is no longer a luxury, it’s a necessity. At i2c, we are committed to moving from a “no, because …” to a “yes, and …” mindset, both internally and for our clients. This approach empowers us to embrace new ideas, experiment strategically and deliver industry-leading banking and payment solutions.

Empowering Our Clients

We partner with our clients to adopt agile development methodologies that prioritize rapid iteration and experimentation. This allows us to quickly test new concepts, gather feedback and refine our solutions.

Innovation is core to our organizational DNA. It has consistently been a priority to invest the maximum possible number of man hours each year to bring our clients’ visions to life. Nearly 30% of our associates are dedicated to R&D.

Technology as a Catalyst

While a positive mindset is crucial, technology plays a vital role in enabling an innovation mindset. Some key technologies that we see transforming the banking and payments industry:

• Cloud Computing provides financial institutions with the scalability, agility and cost-effectiveness needed to experiment with new technologies and business models.
• Artificial Intelligence (AI) and Machine Learning (ML) can be used to personalize experiences, identify fraud and automate back-office processes. 
• Open Banking and APIs foster a more collaborative and innovative ecosystem.  

Fostering Innovation

At i2c, we are on a continuous journey to cultivate a culture of innovation, constantly asking “what if.” A recent example is the launch of our Payment Hub solution. We explored the idea of streamlining multiple payment network connections using APIs and our unified platform and asked ourselves: “What if our clients had a more efficient and scalable way to build out their payments program?” As a result, we now have the most advanced offering on the market, giving financial institutions and FinTechs the flexibility to launch new, innovative solutions that drive long-term profitability.

Embracing ‘What If?’

• Head in the Cloud: i2c’s platform is a full SaaS solution, which enables rapid deployment of enhancements that benefit every client. Our semi-monthly releases allow clients to maximize new functionality throughout the year.
• APIs at Every Turn: Our entire platform is API-based, allowing clients to code and test integrations rapidly, and also enabling us to combine building blocks into new functionality. We can prototype and test quickly.  
• Built for Innovation: Being fully composable means we can create new products using existing components. Our core banking solution, built on the same stack as card processing, uses account management, fraud, and other functionality already in production. 

At i2c, we believe “yes, and …” is more than a mindset; it’s what drives innovation and our clients’ growth. We’re committed to this approach, and we believe it is key to our success and our clients’ success in the second half of the decade.

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FNBO’s secret sauce has always been our relationships. We are proud to be “the great big, small bank,” delivering the capabilities of a large institution while preserving the personal touch that is central to our service. We know our customers by name, and they know us. By keeping the customer at the center of everything we do, we have been able to not only retain but also grow our business, even in the face of increased competition. Customer interactions are based on relationships — not transactions — and long-term relationships are built on shared values, transparency and trust. We understand our customers’ needs because we have lived side by side with them in the communities we all call home for the past 167 years. Our strategy to deliver a holistic payment experience is the key to being a trusted partner, saying “Yes, and here’s how we can help.”

In today’s environment, a relationship built on just one product or service is fleeting. However, when you create a more comprehensive collaboration — one that spans multiple payment products and ancillary solutions — the partnership becomes much stronger and stickier. This approach helps us provide solutions that not only meet our customers’ immediate needs but also anticipate future challenges, making us an indispensable part of their business.

Fraud is an area that has been rapidly changing. The advent of advanced technologies like artificial intelligence (AI) has enabled more sophisticated fraudulent activities and better fraud mitigation. This requires a shift in mindset where employees feel empowered to ask questions, report suspicious activities and actively engage in fraud mitigation.

Fraud prevention isn’t just about solving problems in the present; it’s about anticipating future threats and preparing accordingly. Forward-thinking leaders look ahead to the next one, five or even 10 years, planning how their organization can stay both secure and innovative. As the banking industry moves forward, the focus should be on creating secure, fraud-resistant environments while maintaining the personal relationships that make banking so much more than just numbers and technology.  We have to bring our customers along with us in the mindset shift from “no, because …” in their processes that are vulnerable to “yes, and …” to increase adoption of cutting-edge fraud prevention and mitigation tools. This “yes and …” mindset shift takes processes that they once avoided because they were an inconvenience to now a critical security strategy.

“What if?” is a question that drives FNBO’s strategy every day. As a privately held organization, we consistently think long-term: What must we do today to ensure our success a decade from now? These considerations shape decisions about efficiency, succession planning and long-term sustainability.

By embedding “what if?” thinking into our daily decisions, FNBO ensures we’re always prepared to adapt and innovate. This forward-thinking mindset, combined with our “yes, and …” approach, empowers us to remain a trusted partner in an era of unprecedented change.

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The payments ecosystem is transforming. With more purchasing options than ever and a voracious appetite for convenience, commerce is becoming increasingly complex. Coupled with technological innovation, shifting consumer expectations, regulatory changes and global challenges, companies must depart from their traditional approach to payments and embrace the ever-changing future with innovative technology in mind. Failure to adapt can put any business at risk of falling behind, giving those who seize opportunities to innovate a prime position to grow brand loyalty as we enter this transformative era of commerce.

Focusing on the Customer Experience

To thrive in today’s dynamic landscape, businesses need more than just a payment solution — they need a future-forward approach to commerce. A business’ payments strategy can and should extend beyond simply moving money and should place the customer experience at the center. Creating consistent customer experiences across channels and geographies is the new normal and should form part of a strategy to build customer loyalty and drive revenue growth.

At Fiserv, we innovate with our clients to build differentiated customer experiences that create efficiencies and can scale. A few examples include:

• Blurring the lines between banking and commerce by embedding financial services directly into purchasing experiences to deepen customer relationships and deliver new services.
• Leveraging stored value to deliver new wallet experiences that drive loyalty programs and keep customers engaged and coming back.
• Offering alternative payment methods, such as Pay by Bank, which have benefits for the consumer and merchant alike.

We continue to make investments at Fiserv with a commitment to bring relevant and innovative capabilities to the market. We are focused on simplifying the way our clients do business with us, making it faster to bring new services to market.

Leveraging Data to Optimize the Movement of Money

While payments have become a linchpin to the buying experience, our clients are also challenging us to bring efficiency to their business in ways that create revenue and lower costs  

At Fiserv, we are unique in our role at the intersection between merchant and banking — a position that provides data advantages. How we leverage our own data and how we make merchant data available to our clients is a central underpinning of our strategy.

To that end, we’re using data to supercharge our optimization engine to strengthen authorization rates and thwart fraud at the point of purchase, critical levers that grow revenue and manage expenses. We’re helping our clients to share more of the data they collect at the point of purchase — such as device IDs and geo-location — with issuers, to enhance their decision logic and increase approval rates.

A New Mindset

This shift in mindset is no longer optional — it’s essential. The payments and commerce market must embrace a forward-thinking approach to be successful. The ability to leverage data to deliver innovative customer experiences will position payments technology as a catalyst for transformation. In the spirit of Wardle’s teachings, now is the time to challenge tradition and seize new opportunities. By adopting a “yes, and …” approach and leveraging technology, partnerships and industry and expertise, businesses will be able to navigate the complexities of today’s world and thrive in tomorrow’s.

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