March, 2016

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Banks are not technology companies (yet)

Chris Skinner

I’ve been illustrating my frustration with incumbent banks for some time, saying that they lack technology leadership. Almost a third of my new book talks about the biggest challenge for banks to respond to Fintech, Big Data, Cloud, Blockchain and all those other issues is to have leadership.

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Meet the 15 Fintech Startups from Y-Combinator’s Latest Class

Bank Innovation

Y Combinator’s Winter 2016 Demo Days just wrapped up, with 159 startups taking the stage and making their play for funding. Just under 10% of the companies — 15 to be exact — were fintech-related. This is about average for a YC incubator class, with the 26% from Summer 2015 being an Read More.

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Social media becomes more of a mobile commerce tool worldwide

Payments Dive

Michelle Evans, digital consumer manager for Euromonitor International, examines the impact social media platforms have on commerce, specifically in the Asia-Pacific region.

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Study Affirms Community Banks’ Small-Biz Leadership

Finer Points

It’s something ICBA and the community banking industry say all the time: community banks are the nation’s leading small-business lenders. And the numbers back it up. While community banks make up less than 20 percent of the banking system’s assets, they dole out more than half of its small-business loans. Still, some small businesses continue […].

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Back to Basics with Reconciliations

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.

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Mobile Helps Boost Subscription Box Sites By 3,000 Percent

PYMNTS

We’ve known that subscription box sites were on the rise, but new data showing the particular numbers in that regard is nonetheless impressive. EMarketer reports that, according to a recent study from Hitwise, visits to subscription box sites (online subscription retail services like BarkBox , Birchbox and Dollar Shave Club , which, on a monthly basis, provide their members with goods delivered quite literally in a box) in the United States have increased by nearly 3,000 percent in the pas

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Why most banks fail at transformational change

Chris Skinner

I had a few wake up calls in my years of working in financial services, and a couple of key ones gave me an insight into the mentality of major financial firms that have stayed pretty true ever since. The first was working with a major bank on a process re-engineering project.

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Can a Mobile Lending App Save Millennial Credit Ratings?

Bank Innovation

Millennials hate credit — but a new service called Lenny is out to change that. Lenny is meant for mobile (of course) and launched today in California. It will reach Texas, Florida and New York in the next 10 to 12 months, according to the company, which claims that, in less than three Read More.

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Dorsey wants Square to be synonymous with mobile payments

Payments Dive

Square announced Wednesday as part of its first earnings report as a public company that it had received over 350,000 preorders for the company's new EMV-enabled contactless reader.

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Infographic: Fintech hubs to watch in UK, US & EMEA

Bobsguide

As the hype around fintech grows, cities are competing to crow the loudest about their fintech credentials. Here’s a snapshot of the hot hubs to watch this year with key stats, notable exits and who to watch.

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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

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

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U.S. Bank Alum Pamela Joseph Has Big Plans for TSYS

Payments Source

Retirement was good for Pamela Joseph, former head of U.S. Bank's Elavon business, but not enough to overcome the lure of a high-level executive role at Total System Services, a company rapidly transitioning into a new age of digital payments.

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The changing face of digital banking

BankNXT

Gopal Iyer considers the changing face of digital banking, looking at neobanks and challenger banks. The changing face of digital banking on BankNXT.

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Three of Europe’s most innovative banks are in Germany

Chris Skinner

There are a number of hotbeds for innovation in finance – London, Singapore, Tel Aviv, Silicon Valley – may all spring to mind to begin with … but what about Berlin and Munich? Yes, Berlin is showing some interesting true colours with three standout start-ups: Fidor, NUMBER26 and solaris.

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Movo Raises Seed Round to Build Venmo Killer

Bank Innovation

Payments startup Movo wants to convert every mobile device into a card-issuing bank. Bank Innovation has learned that the Palo Alto, Calif.-based company raised a seed round of $700,000 on Jan. 31 and plans to launch next quarter. The Movo platform will use prepaid funds to issue payment tokens called Movo Cash Read More.

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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

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.

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Mobile apps quickly becoming financial services' biggest asset

Payments Dive

Lahary Ravuri, group manager of product marketing and strategy for Adobe Systems, examines how FIs can use mobile to improve their client interactions and build loyalty.

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Infographic: What does the Future of Fintech hold?

Bobsguide

The first three months of 2016 has already seen a 75% rise in fintech investment in comparison to last year, according to our friends over at Pivotl. And after the 71% rise in investment from 2014 to 2015, we can only expect this number to grow, especially in the payments sector with the predicted.

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Why Do Merchants Want Shoppers to Swipe EMV Cards?

Payments Source

Consumers who have been issued EMV chip cards know how to use them. So it might come as a surprise when merchants equipped with chip card readers instruct their customers to swipe their cards instead.

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20 FinTech Products From 4 Countries That Millennials Love With 1 Thing in Common

Let's Talk Payments

Millennials constitute more than 25% of the US population and are exceeding the baby boomer generation by 3 million. Talking about India, it is a very young country. India’s young.

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Is Your Current Card Platform Holding You Back?

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

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ValueWeb: Fintech is building the Internet of Value

Chris Skinner

ValueWeb: How FinTech firms are using bitcoin blockchain and mobile technologies to create the Internet of Value After months of writing and editing, I’m delighted to say that my new book ValueWeb is now available.

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3 Startups to Watch — Quantiacs, Cleo and ZigZig

Bank Innovation

This week, we have a group of startups united in their mutual conviction that 20-and-younger-somethings need not leave their financial situation to the vicissitudes of an indifferent fate. Starting from the macro and moving to the micro, today’s list takes us on a journey beginning with the plight of the genius-quant, Read More.

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Retailers ponder ways to embed loyalty into mobile wallets

Payments Dive

What customers want is an easy way to use their fully functional mobile wallets to pay for everything from airline tickets to pharmacy items to clothing. And they'd be extra happy if their airline miles and retailer rewards balances could be incorporated into those transactions.

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5 Trading Startups Set To Boom.Even More

Bobsguide

This month we’ve seen many developments in the trading technology sector, with news of the London Stock Exchange’s potential bids, as well as more acquisitions being made in this space, it questions whether there is room for innovation and whether or not new startups will be successful.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

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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Non-Bank Payments Aren't a Long-Term Answer for Legal Marijuana

Payments Source

Despite generating an estimated $4.5 billion in revenue last year, the legal marijuana industry has yet to solve one of its biggest issues—the lack of reliable payments, banking and other financial services.

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12 Companies Leveraging Blockchain for Identification and Authentication

Let's Talk Payments

Increasing data breaches, illegal hacking and identity theft cases are raising the demand of the fraud and authentication industry. No entity seems to be immune – from small banks to.

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The five major use cases for financial blockchains

Chris Skinner

Flying back from Oslo after the SWIFT Nordics Conference, I was reflecting on the blockchain discussion we had. I chaired the discussion which was titled: “Blockchain: from hype to real world applications” and was joined by Vytautas Karalevicius from Spectro Finance, Lasse Meholm of Nordea and Colin Kwan from Magnr.

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Uber and Green Dot Team Up to Make Everyday A Payday

Bank Innovation

At one point in every taxi-driver’s vocational life, there is a moment when a particularly ungrateful fare makes the driver pine for payday, and ask why me? as they calmly circumnavigate the passenger’s quotidian woes. Today, Uber and Green Dot Corporation (NYSE: GDOT) announced a new version of GoBank mobile checking account Read More.

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Breaking New Ground: Managing Innovation Fatigue With Effective Automation

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.