Bank Innovation
APRIL 7, 2017
The world’s first venture capital fund raised with digital coin offering has gained its first round of investors, including executives from Bloq and Civic. Blockchain Capital, the first venture capital firm to focus exclusively on DLT technology is offering digital tokens that represent a stake in the firm’s third fund. The tokens are held on the Ethereum blockchain […].
Chris Skinner
APRIL 25, 2017
I have no academic papers or historical research view on what I’m about to post, although I will find some, but I was reflecting on my discussions of revolutions in humanity. In particular, the second age of humankind, when we invented money as a control mechanism. Before this seismic change, money didn’t matter. We shared beliefs that allowed us to live together in relative peace, but the creation of money changed the balance of humanity.
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Payments Dive
APRIL 4, 2017
Changes in consumer behavior continue to be rapid, disruptive, and largely driven by technology influences, such as mobile devices, big data, the cloud, IoT and machine learning.
Accenture
APRIL 26, 2017
For years, we’ve heard people proclaiming the demise of the bricks-and-mortar bank branch, supposedly swept away by customers’ mass-migration to online and—increasingly—mobile alternatives. But as our latest UK banking consumer survey— Beyond Banking —confirms, there’s still plenty of life in the bank branch. Put simply, customers still want to be able to visit branches and experience the face-to-face contact they enable.
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Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.
PYMNTS
APRIL 25, 2017
Chatbots have moved into a unique position over the past few years. Rather than using chatbots to resolve customer service issues solely on company websites or for inside use at organizations, businesses have begun branching out to help optimize both internal and external organizational needs. While chatbots may be traditionally thought of as the standard instant message chat windows, they have evolved to meet the needs of today’s fast-paced consumer.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
APRIL 26, 2017
What’s hot in fintech? Regtech, insurtech, real estate, robos — all of those (and more) have enjoyed the fintech spotlight recently, with impressive startups on the leaderboard. Six of those startups took the stage at the Empire Startups Fintech Conference yesterday to demo their latest and greatest. Checkout the lineup of the hottest startups below.
Chris Skinner
APRIL 18, 2017
A banker and I were talking about the function of a bank. He gave me the classic view: “A bank is there to take people’s money and lend it out at a profit, whilst ensuring the risk of non-payment is minimised” No it isn’t, I said. I pushed the view that the bank is there as a trusted store of value. The lending part is now no longer important, as that can be done through alternative media such as peer-to-peer lenders.
Payments Dive
APRIL 13, 2017
Retailers are inundated with new technology innovations, promising big returns for their bottom lines. It is difficult to decipher which deserve priority. However, few innovations have been able to match the benefits of augmented reality in retail.
Accenture
APRIL 21, 2017
European banks are in the midst of a ‘perfect storm’ of negative interest rates, regulatory pressures and market disruption, and are in search of new sources of value. A recent Accenture roundtable discussion concluded that European banks have the opportunity to develop innovative transaction banking offerings using virtual accounts, such as virtual cash management, to address changing market needs and create new business models.
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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
APRIL 12, 2017
Are the stars aligning for companies to make API investment a top priority? The April B2B API Tracker™ looks at how companies engaged in cross-border trade are turning to API solutions to reduce the friction that some players encounter when engaged in cross-border trade. A Passport to Simpler X-Border B2B Payments. Over the past few weeks, several companies made investments in APIs with a focus on improving the flow of cross-border trade.
Insights on Business
APRIL 28, 2017
Not so many years ago, “Bankers’ Hours” was a pejorative term meaning any job with a short work day. Today, bankers’ hours are much more customer oriented. With few exceptions, “banking hours” are becoming 24/7/365, or whenever and wherever a customer wants to do banking. Traditionally, banking was a conservative industry with relatively high barriers to entry.
Bank Innovation
APRIL 25, 2017
The pay-as-you-go model of SaaS — software as a service — has certainly gained traction in the world of banking. SaaS has helped banks and other traditional financial institutions to take advantage of apps or software offered (commonly) by fintechs, without having to buy or build out the technology. But as fintechs are getting bigger, […].
Chris Skinner
APRIL 24, 2017
I’ve just spent the last three weeks travelling around too many places to mention, including Germany, UAE, UK and three very different countries: Argentina, Colombia and Pakistan. Argentina is a huge and diverse country of over a million square miles, and a population of 40 million; Colombia is one of the world’s most ecologically diverse countries, comprising 440,000 square miles and a population approaching 50 million; and Pakistan is just over 340,000 square miles with a population bursting o
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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.
Payments Dive
APRIL 20, 2017
Major financial institutions such as JP Morgan are finishing up blockchain technology pilot tests and other businesses are starting to jump on board, as well. But is blockchain tech worth the hype?
Accenture
APRIL 4, 2017
Long ago, houses in northern China were constructed with windows made of thin, semi-transparent paper. To protect their belongings, the residents had to be good meteorologists to ensure that they pasted up the paper windows in advance of bad weather. Waiting until the rains arrived was too late to act. Storm clouds are gathering over the banking industry in the form of a fragmenting value chain, rapid migration to digital channels, encroaching financial technology firms, and open banking regulat
PYMNTS
APRIL 20, 2017
Facebook’s annual developer conference F8 is seeing its fair share of chatbot integration announcements. Now the fashion world is taking center stage as both Rue21 and mode.ai announce their plans for a virtual stylist offering through Facebook’s Messenger app. While Rue21 is working with artificial intelligence–driven shopping bot provider mode.ai to take advantage of Facebook’s newly launched Chat Extensions feature, mode.ai also announced its plans for its own integration.
Abrigo
APRIL 13, 2017
Small businesses in the U.S. face cash flow challenges on a monthly basis, but are business owners and their advisors asking the right questions and addressing the critical areas to change course? Recent research by JPMorgan Chase Institute showed that the median small business has an average of only $7 more in daily cash inflow than it has in daily cash outflow.
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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
Bank Innovation
APRIL 12, 2017
It’s crucial for banks to start participating in the finance revolution, especially as millennials are on the hunt for open banking—at least, according to bankers. According to a survey of 300 banking officials, conducted by Marketforce and Earnix, developing open APIs is becoming more and more crucial to retaining customers. In fact, 80% of the […].
Chris Skinner
APRIL 27, 2017
I have a keynote coming up on May 19 in Amsterdam with The Next Web, who I regularly write a column for now. Here’s my latest one: I’m delighted to be speaking at TNW on May 19 in Amsterdam. I wanted to talk about Digital Human, the theme of my next book, but the guys want me to talk about banking and finance and money, as that’s why they asked me.
Payments Dive
APRIL 25, 2017
Mobile payment platforms debuted amidst tremendous buzz. Although the platforms launched successfully, most consumers continued to use traditional payment methods, pushing business owners to delay their mobile-first strategies to a later date. But that is changing and retailers need to be ready.
Accenture
APRIL 17, 2017
David Bowie’s guitarist Carlos Alomar recently described the challenge of playing with a genius who was a musical chameleon throughout his long career. “David Bowie’s music is a moving target. Just when you think you’ve got the bullseye, it shifts.”. Read the report. Many banks could say the same about striking the right balance between delighting customers with frictionless digital experiences and keeping their data safe.
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
APRIL 28, 2017
Good news emerged from the U.S. venture capital sphere this week: VC funding for FinTech startups in Q1 alone hit $1.2 billion, found a new report from KPMG. Analysts said the industry has seen its highest venture capital activity since Q1 of 2016, fueled by focus on late-stage investment rounds. “The U.S. leads the rest of the world in the total value of FinTech investment due to the large amount of funds available to invest in the market, with investors focusing on late-stage, clear front-runn
Insights on Business
APRIL 28, 2017
The banking industry is undergoing a paradigm shift in terms of adopting cognitive computing into all of its facets. It’s amazing to hear the conversations and see the pilots in which clients are exploring “art of the possible” with cognitive. With the rich data financial services clients hold this is a natural evolution for the industry. The pressure of innovation — driven by the Fintechs — is another factor driving cognitive adoption and moving the industry towards a new way of wor
Bank Innovation
APRIL 11, 2017
Is your financial institution working on API initiatives? Tell us more! For the third consecutive year, Bank Innovation has teamed up with Open Bank Project and (this year) the University of Warwick, to conduct a research survey on how financial institutions worldwide are prioritizing API initiatives in 2017. The query is digital and we invite industry participants to […].
Chris Skinner
APRIL 11, 2017
I blogged recently about American banks beating up the regulators to stop account access via APIs. I heard this in various White House meetings in 2016, and assumed all banks and bank people felt the same way. Well, they don’t. Citi’s head of FinTech Policy, Andres Wolberg-Stok, got in touch to clarify the true situation. Here is his response … Dear Chris I don’t know of any facts to support the assertion that “In the USA, there is a move by the big banks to get Washington
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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