Chris Skinner
JULY 4, 2017
I’ve written a column for The Banker magazine for the last 15 years and, during that time, have collected their special July edition each year. Every July The Banker publishes their analysis of the Top 1000 banks in the world. In the 1990s, the top 10 were mainly Japanese; in the 2000s, American; and today, Chinese. This year is particularly interesting as there is a clear impact of Brexit on the British banks.
Bank Innovation
JULY 11, 2017
Open APIs have been advancing steadily across the banking landscape for a number of years, though just how “open” may be a point of conjecture. Many of the European neobanks have done it, such as Monzo and Fidor, and in Europe, where PSD2 is set to take effect next year, the issue is especially pressing. […].
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Payments Dive
JULY 11, 2017
While mobile wallets make it possible to manage several cards in one application, the challenge facing financial institutions is becoming the default card option within mobile wallets and payment applications.
PYMNTS
JULY 10, 2017
In eCommerce news: The tug-of-war game just got a bit tighter, and Amazon may be in the crosshairs. Walmart’s Jet.com is helping to push the envelope with its new “ try before you buy ” approach. Approximately 300,000 online product samplings and exclusive offers will be included in monthly eCommerce packages. Through this new promotional effort, Jet.com is hoping to enhance its customer engagement process and is likely to continue to increase its status as a tier one eCommerce company.
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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.
Insights on Business
JULY 20, 2017
See how open banking APIs are transforming financial services (and businesses, too!). What is “open banking”? I wasn’t particularly inspired by the Wikipedia definition , so I’ll give you mine. Open banking is a term that is associated with a broad set of initiatives that align to one of these three principles: Banking customers are empowered as the owners of their financial data. .
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
JULY 21, 2017
There’s an old joke about the guy who’s lost driving in the countryside who stops to ask a pedestrian how to get to the city. The pedestrian replies: “oh, if you want to get there, I wouldn’t start from here”, and this is exactly how banks feel today. They want to get to the nirvana of new technologies, but are stuck in a spaghetti of old systems.
Bank Innovation
JULY 6, 2017
What do mortgage lending and music streaming have in common? More than one would think. In fact, mortgage lenders could stand to learn a few lessons from how music services such as Spotify interact with consumers, according to Vishal Garg, founder and CEO of Better Mortgage. Better, an online mortgage lender utilizing machine learning to […].
Payments Dive
JULY 6, 2017
The retail landscape is evolving rapidly as emerging technologies and trends are changing expectations of the in-store experience. As retailers look to find their place in this brave new world, many are now seeing payments as an opportunity.
PYMNTS
JULY 5, 2017
The Hive Project, a company that uses cryptocurrency and Ethereum blockchain for trade financing , has launched its platform. The company announced Friday (June 30) that its portal is up and running to link SMEs to trade financing by turning unpaid invoices into tradable assets. Every invoice is assigned a unique fingerprint, the firm said, by tokenizing each bill and linking them onto the blockchain.
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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
Insights on Business
JULY 27, 2017
Against a backdrop of emerging technologies, shifting customer expectations, regulatory changes and evolving business models, Forrester Research lays out the future of financial services in a provocative report entitled “Predictions 2017: Pioneering Financial Providers Will Partner With Fintech To Build Ecosystems”. It makes the claim that breakaway leaders will focus on digital products delivered as application programming interfaces (APIs), and partner with FinTechs to create new ways to engag
Bobsguide
JULY 20, 2017
Every day companies around the world are finding new and innovative ways of exploiting public cloud technologies. The overall growth of cloud adoption continues to increase at double digit rates, and public cloud providers are facilitating unprecedented levels of innovation, agility, insight, and.
Chris Skinner
JULY 11, 2017
I posted this on twitter earlier and it’s proven so popular that I thought I would share with all. The bank calls for an Open Banking meeting. The post The bank calls for an Open Banking meeting appeared first on Chris Skinner's blog.
Bank Innovation
JULY 25, 2017
Want a national bank that’s mobile-only? So does Varo Money. Varo applied for a banking charter from the Federal Deposit Insurance Corporation (FDIC), as well as for a charter from the Office of the Comptroller of the Currenc, in the hopes of forming “Varo Bank,” the mobile banking startup announced today. “[Varo] was founded 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
JULY 5, 2017
Mobile wallets, security and Alipay were just a few of the many discussions that took place at the recent conference in Copenhagen.
PYMNTS
JULY 13, 2017
The digital retail revolution is well underway. Fusing technology into in-store experiences has officially gone mainstream, and retailers are looking for ways to go beyond the traditional mobile app. As we’ve reported in the past, places like Sephora have installed various tablets with embedded augmented reality (AR) features to help customers pick and choose what makeup shades look best on their skin tone.
Insights on Business
JULY 19, 2017
Deep changes are sweeping the financial services industry. Lofty expectations by millennials, FinTech upstarts, stinging memories of the financial meltdown, and a growing body of stringent regulations are just a few causes for industry-wide upheaval. Despite the changes, though, there are some constants; look at the data foundations at financial institutions and you’ll find that things are rather stable.
Bobsguide
JULY 18, 2017
Huw Jenkins, CTO of The Money Cloud. 2018 is going to be the year that permanently changes the customers see and use banks. Banks in their traditional form are going to start to disappear, and be replaced by “banking technology” – which is a completely different beast. PSD2.
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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
JULY 11, 2017
I got to thinking about yesterday’s post on humanity in part due to a discussion of global banking. Global, universal banking was the mantra of the 2000s and HSBC, Citi, Bank of America, BNP Paribas, Deutsche and more were all jumping on the bandwagon. After the global financial crisis, they all jumped off it again, and most global, universal banks ambitions are now clipped back to purely being able to support their global corporate clients’ needs.
Bank Innovation
JULY 25, 2017
Digital bitcoin wallet Abra is introducing its digital money transfer application to a vast landscape of new users thanks to its integration with American Express, the companies announced today. “This is the first time a major credit card has partnered with a digital card,” Abra CEO and founder Bill Barhydt told Bank Innovation. “And it definitely […].
Payments Dive
JULY 20, 2017
Despite the predominance of digital banking, there's evidence customers are growing less satisfied with their digital banking experience.
PYMNTS
JULY 6, 2017
API technology is opening new doors for the world of financial services, a trend that cultivates cooperation and collaboration between FinTechs and banks, once considered competitors. With the speed of payments accelerating and Same Day ACH initiatives continuing to roll out, NACHA has pulled together a group of industry experts to explore API standardization as a way to facilitate faster payment speeds and greater transaction security, among other use cases.
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.
Insights on Business
JULY 18, 2017
In 2016, more than 4 billion data records were stolen or lost, a 556% increase over 2015. Over the past few five years alone, 9 billion records have been breached. Of these records, only 4 percent of have been encrypted. Although cloud data centers have been on the rise, little to no progress has been made so that data is fully encrypted at any scale. .
Bobsguide
JULY 5, 2017
According to the 2017 Retail Banking Trends and Predictions report, the top strategic priority for banking institutions around the world is improving customer experience. To achieve this goal, banks need to offer consumers the flexibility to engage via their preferred channels at their preferred.
Chris Skinner
JULY 18, 2017
I was interviewed by UBS’s wealth management team a month ago, when the bitcoin bubble was in full bloom. The price had exploded, tripling in a month. Now that it has burst, the interview seems quite prescient so, here it is … UBS interview with Chris Skinner Cryptocurrencies – digital currencies based on encryption – are in the midst of a bubble, but that should not overshadow the genuinely transformative change that is taking place within the financial services industry.
Bank Innovation
JULY 7, 2017
Financial advisors should be able to escape the rise of automation and artificial intelligence with jobs intact. That’s according to the data on the probability of computerization released by Carl Frey and Michael Osborne (reorganized into this helpful graphic from Bloomberg); which states that personal financial advisors have a 58% chance of computerization in the […].
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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