Chris Skinner

SEPTEMBER 12, 2018

I recently did an interview with my American friend Jim Marous over on The Financial Brand. It’s a good interview so I thought I would post my answers here. Feel free to comment! Your newest book, Digital Human, is obviously an outgrowth from your two previous books, ValueWeb and Digital … The post Financial Institutions Aren’t Prepared for the Digital Revolution appeared first on Chris Skinner's blog.

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Branding Digital Banking Fintech 413

Payments Dive

SEPTEMBER 11, 2018

Let's take a look at the what blockchain is, and how it can help transform the mobile payments industry.

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blockchain Mobile Payments Industry 402

Bank Innovation

SEPTEMBER 24, 2018

Varo Money has selected the Swiss software provider Temenos as its core for its new digital bank. The challenger bank has already received preliminary approval from the OCC on its application for a national banking charter and will begin the building out the digital bank soon. Bank Innovation has reached out to Varo Money about the launch date for […].

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Digital Banking Software National Innovation 275

PYMNTS

SEPTEMBER 18, 2018

Sixty years ago today (Sept. 18), a San Francisco startup launched by sending roughly 60,000 credit cards to consumers living in northern California. This startup was a bank, and its innovation was a single card that could be used by consumers to purchase things on credit from many different merchants. The card eliminated the need for consumers to establish credit with multiple merchants, then carry multiple cards issued by each of those merchants to pay for purchases over time.

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Payments San Francisco Innovation Cards 259

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Insights on Business

SEPTEMBER 13, 2018

If Charles Darwin were still alive, I wonder what he would think about the evolution of banks? Once again, banks are being forced to evolve or die. And financial institutions that fail or refuse to become cognitive and digital will get left behind. It’s survival of the fittest at its finest. Right now, survival is hiding behind a mask of profits. Are the record profits for the financial services industry because of a better economy, or because financial institutions have become better?

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Operations Case Study Customer Experience Analytics 184

Chris Skinner

SEPTEMBER 18, 2018

It’s interesting that the Global Financial Crisis (GFC) sparked by Lehman Brothers collapse in September 2008 sparked the FinTech revolution, according to some. I personally think FinTech was bubbling away before the GFC but, certainly, the GFC led to massive investment focus upon changing the system (almost $100 billion since … The post How Lehmans collapse started the FinTech fire appeared first on Chris Skinner's blog.

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Payments Dive

SEPTEMBER 21, 2018

Regardless of the latest and greatest technology, a successful payments strategy revolves around the consumer experience, and building a strategy requires an understanding of how consumers are engaging with payments on a day-to-day basis.

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Payments Strategy Technology 358

Bank Innovation

SEPTEMBER 13, 2018

Mastercard announced a new B2B payments platform for merchants yesterday, built using Microsoft Azure, the software company's cloud computing service. The service, called Mastercard Track, aims to streamline and automate the process of merchants sourcing and obtaining goods through vendors, paying for said goods, and reconciling payment with accounts receivable, also known as procure-to-pay.

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Payments Software Company America 271

PYMNTS

SEPTEMBER 19, 2018

Amazon.com announced Wednesday (September 19) that it launched in Turkey, enabling consumers in the country to shop from millions of products over the internet. In a press release , Amazon said Amazon.com.tr is now live, featuring products in 15 different categories including books, consumer electronics, sports, outdoor, tools and more. “Our mission at Amazon is to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, at great pri

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Tools Branding Online Retail 202

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Analysis

Chris Skinner

SEPTEMBER 25, 2018

I’m working on my next book already. Digital Human only came out a few months ago, and here I am off already on a new one. I’m not going to share too much about it yet, as it won’t come out for two years, except to give you some clues on … The post Which banks do ‘get IT’? appeared first on Chris Skinner's blog.

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Case Study Study Digital Banking Fintech 372

Chris Skinner

SEPTEMBER 2, 2018

There’s been an interesting but hidden trend taking place. It started in China with Tencent and Alipay and has now gone global. The phenomenon is called QR codes. QR, or Quick Response if you prefer the longer form, is a code that originated in Japan in the 1990s, and has … The post Will QR codes wipe out cash and cards? appeared first on Chris Skinner's blog.

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Cards Trends Digital Banking Fintech 370

Chris Skinner

SEPTEMBER 23, 2018

I talk about 1,000s of start-up companies doing one thing brilliantly well, and was looking for an anecdote that might help me talk about this better … and found one. It goes like this: A ten-year-old boy decided to study judo, despite the fact that he had lost his left … The post What’s your one move? appeared first on Chris Skinner's blog.

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Study Company Digital Banking Fintech 362

Chris Skinner

SEPTEMBER 20, 2018

I sometimes write blog posts that I actually disagree with. I write it to provoke reactions, and to test my own thinking. As a result, I think I usually annoy people in banks who read my writing but, instead, I actually get a quite a lot of compliments, for testing … The post Why banks have armies of developers appeared first on Chris Skinner's blog.

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Digital Banking Fintech 347

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Lending

Chris Skinner

SEPTEMBER 26, 2018

Good question, and it all depends on the revenue forecast. However, if you want to get an idea, a new survey from Moorlands Human Capital, an executive recruitment search and consulting company, has a view. That’s because they asked 500 FinTech companies how much they pay the CEO? And it … The post How much is a FinTech CEO worth? appeared first on Chris Skinner's blog.

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Payments Dive

SEPTEMBER 27, 2018

There are three major problems that are keeping the blockchain out of the mainstream: poor reputation, lack of education and lack of full solutions.

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blockchain 331

Chris Skinner

SEPTEMBER 5, 2018

I recently blogged about JP Morgan Chase spending $10 billion a year on technology of which $3 billion goes into new projects. There were then several other announcements that caught my attention about Citibank and Bank of America investing similar amounts in digital. The question it prompted is: why are … The post We need to launch a digital bank?

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Payments Dive

SEPTEMBER 13, 2018

Suresh Ramamurthi, chairman and CTO of CBW Bank, opened the annual Bank Customer Experience conference with a keynote speech detailing his financial institution's unique journey.

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Digital Banking Conference Customer Experience Fintech 322

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Operations

Chris Skinner

SEPTEMBER 12, 2018

One other thing struck me as the discussions fired away in Shanghai at Lang Di … is China going to haemorrhage and bring down the world’s financial systems … or is that just what the Western media would like us to think? The reason I raise it is that I … The post China’s blood on the carpet in P2P lending appeared first on Chris Skinner's blog.

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Lending US System Case Study 310

Chris Skinner

SEPTEMBER 17, 2018

I received a really interesting report from the law firm DLA Piper last week. The report is focused upon how blockchain is changing the financial services markets around the world, with the aim of establishing the position of major financial institutions with regards to cryptocurrencies and the use of blockchain … The post A third of banks expect to hold cryptocurrencies on their balance sheets appeared first on Chris Skinner's blog.

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cryptocurrency blockchain Report Marketing 303

Chris Skinner

SEPTEMBER 16, 2018

There was a big hoo-haa last week when UK Gov released their analysis of a no-deal Brexit. A no-deal Brexit is if we reach 29th March 2019, two years after triggering the exit process and an effective D-Day, without agreeing terms between UK Gov and the European Union. The research … The post What happens to banks if there’s a no-deal #Brexit?

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Analysis 302

Chris Skinner

SEPTEMBER 20, 2018

I just saw a report from the World Economic Forum, who estimate that over $1 trillion in new trade will be created through blockchain-based distributed ledger technologies (DLT) over the next decade. They also estimate it will reduce the global trading gap by $1.5 trillion. Bold claims. Here’s the key … The post Over the next decade, over $2.5 trillion will be generated by blockchain trade appeared first on Chris Skinner's blog.

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blockchain Technology Report Fintech 302

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Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

Cards

Payments Dive

SEPTEMBER 18, 2018

Networld Media Group, publisher of ATM Marketplace, Mobile Payments Today and World of Money, presented four awards on the evening of Thursday, Sept. 13, during a banquet held as part of the 6th annual Bank Customer Experience Summit in Chicago.

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Customer Experience Chicago Innovation ATM 296

Chris Skinner

SEPTEMBER 27, 2018

I blog a lot about banks needing to change and adapt. I do not blog about the end of banks and I do not predict that banks will be destroyed. I do predict that banks that do not change and adapt will be destroyed, and I do predict that banks … The post Breaking through the barricades appeared first on Chris Skinner's blog.

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Digital Banking Fintech 292

Chris Skinner

SEPTEMBER 10, 2018

I enjoyed the LendIt conference in Shanghai, and wrote a few notes. In particular, I enjoyed hearing the story of XWBank as told by Jiang Hai, the Vice Chairman. His presentation was in Chinese but, from the simultaneous translation and slides, I picked up some interesting stats. To begin with, … The post Loans processing for just three cents per application (thank you coders!

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Conference Case Study Study Digital Banking 292

Payments Dive

SEPTEMBER 25, 2018

Bank executives gathered in Chicago two weeks ago for the Bank Customer Experience Summit to discuss AI's role in current and future customer initiatives.

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Chicago Customer Experience 290

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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