Chris Skinner
MAY 16, 2019
Three years ago, I blogged about three phases of FinTech. Three years later, I can expand on that theme and talk about five phases of FinTech. The five phases of FinTech are (dates are rough guide): Disruption (2005-2014) Discussion (2014-2017) Partnership (2017-2022) Integration (2022-2027) Renewal (2027+) Phase One: Disruption (2005-2014) … The post Five phases of FinTech (2005-2027) appeared first on Chris Skinner's blog.
Payments Dive
MAY 16, 2019
Research confirms that cashless readers do not undermine cash sales in a vending machine. In fact, the cashless technology serves to improve both cashless and cash activity, particularly for machines doing lower volume sales.
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South State Correspondent
MAY 22, 2019
MANAGING CREDIT RISK Most risk managers are intimately familiar with the expected loss for credit and interest rate risk. However, fewer risk managers are familiar with the concept of unexpected loss. For commercial banks, it is the unexpected loss that is more important for lending decisions and long-term profitability. We will outline how unexpected loss manifests itself in lending decisions and what commercial lenders must know to safeguard against unexpected loss for credit and interest ra
Bank Innovation
MAY 30, 2019
Japanese mobile payment app PayPay is embedding itself in rural areas to gain market share in a country where cash is still dominant. Indeed, cashless payments reportedly account for just 20% of transactions, compared to 50% in the U.S. Despite some well-heeled competitors, Japan is a largely untapped market for mobile payment providers. PayPay's chief […].
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
PYMNTS
MAY 8, 2019
Amazon was the target of an “extensive” cyberattack in which hackers stole money from merchant accounts and funneled them into their own, according to a report by Bloomberg. The attacks occurred between May and October of 2018. Amazon said the hackers compromised about 100 seller accounts, taking cash from either loans or sales and putting it into their own accounts.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
MAY 29, 2019
So my snarky little friend Ron Shevlin wrote a piece on Forbes claiming that Americans don’t want a digital bank. As the guy who wrote the book Digital Bank you might think I would take offence to such a statement, but no. I agree with his content, just not his … The post Customers don’t want digital banking appeared first on Chris Skinner's blog.
Payments Dive
MAY 10, 2019
As venture capital continues to look for new opportunties, startup firms in the fintech space are taking unique approaches to payments and financing to raise new funding to accelerate their growth.
South State Correspondent
MAY 15, 2019
PROFITABLE BANK LENDING Commercial lenders should be aware of the important factors that drive customer behavior to borrow funds. Our clients borrow from us when they refinance debt, or purchase equipment, real estate, or finance working capital. However, there are three key elements that make debt especially appealing for borrowers. Commercial lenders that understand these three elements can better position themselves for success. .
Bank Innovation
MAY 29, 2019
SAFE Credit Union, through a partnership with NCR Digital Banking, is using geofencing technology as a trigger for push alerts to its customers. The credit union uses the tool to get feedback from customers as they leave the branch and to inform customers of potential rewards when they attend certain events or perform certain tasks. […].
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Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment
PYMNTS
MAY 20, 2019
Mobile commerce might just be the key to saving brick-and-mortar stores. Consumers use their smartphones to shop for everything, everywhere – including using them to help them shop in-store. What’s more, consumers who use their smartphones while shopping in-store visit them more often than consumers who don’t. As much as 81.5 percent of consumers who do say they visit brick-and-mortar shops every day or every week.
Bobsguide
MAY 2, 2019
Regulators and standards bodies are at risk of standardizing obsolete technology by creating rules for blockchain networks that are already years old, according to Joe Pindar, blockchain and cryptography director at Thales. “There have been three generations of blockchain, starting with the.
Chris Skinner
MAY 7, 2019
I blogged in March (Transforming the bank – three phases of change) about the method to make systems change happen to transform the bank. In another conversation, I then realised that there are three phases of organisational change to transform the bank. The first phase is a recognition that the … The post The reason digital is a leadership challenge and not a project appeared first on Chris Skinner's blog.
Payments Dive
MAY 23, 2019
Choosing the right payment processor for your business, whether it be a retail shop, restaurant or service provider, is a critical decision that requires several major considerations, including security, PCI compliance, convenience and ease of use.
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Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.
Insights on Business
MAY 16, 2019
In a competitive financial marketplace, banks are turning to incentive compensation management (ICM) solutions for competitive advantage. While the value of motivating employees is indisputable, bankers increasingly recognize the value of going beyond improvised morale building tactics to deploying a structured incentive compensation system. However, making the case to senior bank executives of the need to deploy a sales compensation management solution can be challenging.
Bank Innovation
MAY 22, 2019
With hefty injections of cash and ballooning customer numbers, challenger banks are gunning for a greater share of incumbent banks' customers. They're promoting customer growth as an indicator of ongoing success, but questions loom about whether these customers are using their challenger bank accounts as their primary account and whether customer acquisition gains are being […].
PYMNTS
MAY 29, 2019
Businesses of a certain size — and in industries as varied as construction and restaurants — know the pain of wondering if they will have enough capital to fund operations, inventory, expansion and other mission-critical business activities. They know the uncertainty of going to traditional financial institutions (FIs), even those rooted in their communities, that might not want to take on the risks or economics of extending smaller lines of credit to small businesses (SMBs), with fortunes that
Bobsguide
MAY 29, 2019
Payments markets are changing drastically, forced by the hand of national and regional regulators as well as a technological advances driving at an incredible pace. Banks and other financial institutions are sitting up to take note. Here, bobsguide speaks with Mohammed Kateeb, group chairman and.
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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
Chris Skinner
MAY 24, 2019
Reading about FinTech unicorns and pizzas worth $80 million, you would think that the world was bubbling over with wealth. FinTech investments last year peaked at over $110 billion, more than double the year before, and IPOs for firms like Uber and WeWorks are seeing valuations in the stratosphere. Everything … The post When will the FinTech bubble burst?
Payments Dive
MAY 16, 2019
Research confirms that cashless readers do not undermine cash sales in a vending machine. In fact, the cashless technology serves to improve both cashless and cash activity, particularly for machines doing lower volume sales.
Insights on Business
MAY 1, 2019
In the financial services industry in the United States, one thing remains constant – change. Whether policy makers are encouraging deregulation, or increasing regulatory requirements, regulatory change has been a constant. As recently as two weeks ago, the U.S. Federal Reserve Board announced proposed tailoring of prudential standards for FBOs, following on similar tailoring for U.S. banks.
Bank Innovation
MAY 3, 2019
You may not have heard of the term “Silicon Alley,” but I am sure you are aware of the game-changing financial technology that is emanating from it. “Silicon Alley” was initially coined in the mid-1990s as a way to group media startups housed around the Flatiron neighborhood of Manhattan. I hope that doesn’t give you […].
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.
PYMNTS
MAY 14, 2019
Restaurant management platform Toast has launched Toast Payroll & Team Management, a payroll and HR solution designed for the restaurant industry, the company said in a release. The new service makes payroll easier by automating it, and it also streamlines onboarding and reduces compliance risk. If combined with Toast Point of Sale, the new product integration will let owners instantly onboard and manage employees, keep track of hours throughout all locations, and make sure everyone is paid
Bobsguide
MAY 22, 2019
Major banks are increasingly interested in commercial cloud platforms, but networks of interconnected legacy systems and concerns over data security will continue to see a layered hybrid approach, say market participants. “When we started engaging with customers, we imagined from the.
Chris Skinner
MAY 19, 2019
I’m writing more and more about Facebook launching its own cryptocurrency lately: Will Facebook become the world’s central bank? (March 2019) Will a global platform connect all of our money? (April 2019) This is because they are getting serious about payments and blockchain, after a variety of reports that they … The post If Facebook launch a cryptocurrency, will US government shut it down?
Payments Dive
MAY 2, 2019
Retailers and restaurants are reconsidering their payment policies as cities and states continue to push for legislation that would require merchants to accept cash.
Speaker: Gary Dmitriev
Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.
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