Chris Skinner
SEPTEMBER 14, 2017
Following on from the discussions about identity on Monday, it gets interesting to think about the customers’ data and who owns it, especially in light of the Payment Services Directive 2, PSD2 for short, which comes into force at the start of next year. The regulation forces banks to open … The post Who owns the customers’ data? appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 15, 2017
EXCLUSIVE – The Brink’s Company and expense management provider Bento for Business introduced a new Travel & Expense Debit Card at Finovate in New York. The partnership is a major win for Bento, who launched only two years ago with a prepaid card for SMBs. “The Brink’s T+E card is different from our core product […].
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Payments Dive
SEPTEMBER 29, 2017
B2B businesses are typically older, running on what they know and what’s come before them. As a result, the $6.7 trillion B2B e-commerce opportunity remains largely untapped – and payments represent an important part of that untouched territory.
Accenture
SEPTEMBER 11, 2017
Earlier this year I made a set of payments predictions for 2017, which is living up to expectations as a year with new developments and change occurring on all fronts. In this blog, I give an update on how the payments landscape is shaping up and rotating towards a new world of digital payments. Contactless and Mobile Payments. Prediction : Contactless card transactions in the UK will rise to between 6BN – 9BN transactions in 2017, (compared to my forecasts a year ago of 3BN transactions for the
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
PYMNTS
SEPTEMBER 12, 2017
After something of a slow start, mobile eCommerce is set to make up half of all online sales by the year 2020 — worth nearly $250 billion annually. That forecast comes care of “A Mobile Mindset,” the second volume in the five-part series, “The 2017 UPS Pulse of the Online Shopper.” The UPS-backed report is derived from the input of over 5,189 comScore panelists who made at least two online purchases in a typical three-month period.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
SEPTEMBER 6, 2017
I don’t usually tell people that I’m a qualified expert in insurance as it’s not relevant, but I’m mentioning it today as I just presented at a private insurance event. There are lots of interesting nuances in insurance. You and I probably think it’s just that once a year renewal … The post InsurTech’s big ticket items: machine learning on the blockchain appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 12, 2017
EXCLUSIVE- Q2 Holdings and Chime are taking advantage of how users typically pay services like Amazon or Netflix to help drive more interchange revenue to financial institutions. For consumers, paying digital subscription services like Netflix typically involves a degree of laziness. Most customers set up payment for these services once, and never look again unless […].
Payments Dive
SEPTEMBER 8, 2017
Because remittance payments are often driven by an emotional or personal motivation, they cannot be treated in the same way as a normal transaction.
Accenture
SEPTEMBER 24, 2017
These are exactly the sort of words that would make you launch your phone into the nearest river, if they had been uttered by Siri. Fortunately, they are the fictional words of HAL 9000, the sentient artificial intelligence system in the 1968 Stanley Kubrick film, A Space Odyssey: 2001. It told the story of a mission to Jupiter and the gradual realisation of the human crew that the perfect piece of AI designed to help them, was in fact fallible, and plotting against them to preserve its existenc
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Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.
PYMNTS
SEPTEMBER 18, 2017
Some of the most memorable television commercials of the 1970s and 1980s were those promoting E. F. Hutton’s brokerage services. When its tagline, “When E. F. Hutton talks, people listen,” was spoken in those commercials, everyone in the room stopped, turned to look and listened with rapt attention to the person who uttered those words. The person speaking never revealed what E.
Abrigo
SEPTEMBER 14, 2017
By Richard Greene, Clarus Advisors Cash flow is the life’s blood of a business. This is true for the small business and the Fortune 50. Understanding, tracking and controlling your company’s cash inflows and outflows is paramount to running a healthy company. To illustrate the impact collections has on your cash flow , consider this example: daily sales are $10,000 and Accounts Receivable sits at 42 days.
Chris Skinner
SEPTEMBER 15, 2017
I was chairing a conference on blockchain and distributed ledgers the other day. The audience were a mixture of start-ups and banks, and the speakers were talking about how they viewed the world of distributed ledger developments. Many of the banks had successfully complete proofs of concept projects and were … The post Bankers see faster horses; technologists imagine cars appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 27, 2017
Fintechs are partnering with banks, banks are using blockchain technology, artificial intelligence, and cryptocurrency and financial regulation is still undergoing massive changes. Challengers to traditional banking, payment, and loan products have all launched this year, and FIs are fighting fraud, hacks, and scams with an increasing number of biometric security measures. 2017 has been a […].
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Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.
Payments Dive
SEPTEMBER 5, 2017
There's no denying the discussions happening today about chatbots. They include chatter about artificial intelligence, conversational commerce and voice assistants such as Amazon's Alexa and Apple's Siri.
Accenture
SEPTEMBER 26, 2017
In my view, electronic payments will accelerate dramatically over the next decade, driven by the “atomization of payments.” New business models are emerging, enabled by technology, resulting in increased transactions that will scale and scale. We are fast moving from batch to real-time transactions, with payments made continuously from bank accounts.
PYMNTS
SEPTEMBER 15, 2017
The favored narrative about banks and FinTech startups is generally not a love story. Usually, it is more of an all-out war story. Banks represent the old way of handling financial services – and in fairness, they carry a lot of responsibilities that deposit-taking institutions don’t necessarily have. Of course, banks have to be run with safety and soundness to protect those deposits, but they also have myriad public mandates, like fair lending, anti-money laundering and customer privacy.
Abrigo
SEPTEMBER 22, 2017
When a lending institution establishes its risk rating system it has to decide whether it will require analysts to risk rate the borrower or the loan -- or both. Said another way, it has to decide between a single or dual rating system. There are benefits to each. On one hand, a single rating system is simple. On the other, the dual rating system allows for more distinction in risk grades, which could be beneficial to the institution.The answer to the question as to which is better for a lending
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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.
Chris Skinner
SEPTEMBER 1, 2017
Before 2010, I was writing a lot about technology but it was all heavily geared towards regulations. It was pretty dull, to be honest, but worthy. MiFID and PSD were top of mind, along with Basel III and other global, European and domestic regulations. I wrote a lot about regulations. … The post Slow regulations versus fast tech appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 6, 2017
EXCLUSIVE – Traditional banks cannot afford to ignore fintechs. What started out as a nascent subsect of the broader financial space is now at the forefront of how people bank. The impact of fintechs on how people bank has not gone unnoticed by The Royal Bank of Scotland, who over the past 18 months under […].
Payments Dive
SEPTEMBER 12, 2017
By deploying its "Fresh Forward" concept, Subway has recognized the need to make ordering more convenient in addition to continuing its emphasis on freshness.
Bobsguide
SEPTEMBER 1, 2017
50 years ago, a new technology swept across banking, transforming the way that consumers interacted with their financial institutions and their money. The launch of the first ATM (or cash machine), in London by Barclays, heralded a new, consumer driven focus for retail banks, with customers deciding.
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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
PYMNTS
SEPTEMBER 6, 2017
Although many people equate blockchain technology with the banking and computer worlds, the technology is changing the food landscape as well. Companies like Walmart, Kroger and Nestle recently joined a partnership effort involving blockchain, signaling that the Internet of Things is making its way into Americans’ kitchens. But what hasn’t been so deeply explored is how that technology can help food producers and retail firms collaborate more deeply, helping both succeed and strengthening the in
Abrigo
SEPTEMBER 20, 2017
Beauty is in the eye of the beholder, as the saying goes, and so apparently is “reasonable compensation” for a business owner. Many variables can make providing a defensible, rational estimate of reasonable compensation extremely challenging when a valuation analyst is conducting a business valuation , according to Kevin Yeanoplos, CPA/ABV/CFF, ASA, Director of Valuation Services at Brueggeman and Johnson Yeanoplos , P.C.
Chris Skinner
SEPTEMBER 20, 2017
I’ve written a lot about legacy and the challenge of old systems, so it’s interesting to read a few press reports on said subjects. Yolanda Bobeldijk writes in the Financial News that 92 of the world’s top 100 banks still rely on IBM mainframes. Now that’s not an issue if … The post Which banks are leading digital (and who are the laggards)? appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 21, 2017
China has reportedly banned all bitcoin executives from leaving its borders as part of the country’s crackdown on its cryptocurrency industry. Though these reports named bitcoin executives in particular, some see the move as the onset of a larger “war” between governments everywhere and all cryptocurrencies. This is the latest in a series of new […].
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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