Chris Skinner
SEPTEMBER 1, 2019
I was talking with a CXO of a bank. They are actively engaged in ‘going digital’, but she was sharing with me that the bank’s executive team had no idea what going digital means. Being brutally honest, she told me she had no idea what it means either. I was … The post We just haven’t got a clue what to do! appeared first on Chris Skinner's blog.
South State Correspondent
SEPTEMBER 4, 2019
LEARNING FROM NON-BANKS Last week we tagged along with The Bank of Charles Town (BCT) crew who, like us, are heavily believers in “cultural tours.” BCT used a series of these tours to kick off their strategic planning season with the purpose of grabbing ideas that could spark creative thinking. Almost every time we debate if it makes sense to put the crush of our To-Do List on hold for a day and spend time at an unrelated industry.
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Payments Dive
SEPTEMBER 3, 2019
Digital banking is growing rapidly in the U.K., as challenger banks are gaining share among non-millennnial users and winning over customers with strong customer service. The report warns, however, that few of these upstart banks are actually turning a profit and the pace of growth cannot continue at the same pace forever.
PYMNTS
SEPTEMBER 19, 2019
At its annual summit in New York , the ID2020 Alliance announced the roll out of a digital identity program with the Government of Bangladesh ; Gavi, the Vaccine Alliance; and new partners in academia, government and humanitarian relief. “Digital ID is being defined and implemented today, and we recognize the importance of swift action to close the identity gap,” said Dakota Gruener, executive director of ID2020, in an announcement.
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Bank Innovation
SEPTEMBER 10, 2019
As consumer payments go digital, startups and banks now are focusing on digitizing business-to-business payments, an area where small business owners still are reliant on paper checks and a multitude of expense-management tools. Bento for Business‘ pitch to business owners, however, is more than just about expense tracking, according to Farhan Ahmad, the Chicago-based company’s CEO. […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
SEPTEMBER 11, 2019
I hear this a lot, and don’t like it. Many banks say it these days, and they say it to be cool. To be like a start-up. To be like a Silicon Valley angel investment firm. To be like a young, FinTech unicorn. However, there is a massive difference between … The post We’re just a technology company that happens to have a banking licence appeared first on Chris Skinner's blog.
South State Correspondent
SEPTEMBER 3, 2019
THE ECONOMICS OF FINANCIAL LITERACY Many banks put financial literacy education squarely in their Community Redevelopment Act (CRA) effort using the mindset that financial literacy is an affliction of low-to-moderate income households. The reality is, financial illiteracy affects us all. Some banks believe consumer financial literacy is not only good for consumer prosperity but also makes good business for banks.
Payments Dive
SEPTEMBER 26, 2019
Marbue Brown, the head of customer experience at JPMorgan Chase, told attendees at the annual BCX summit that millions of people want a combination of the speed and sophistication of digital banking along with the human interaction and financial wellness provided by a physical bank branch.
PYMNTS
SEPTEMBER 12, 2019
When Zohr Co-Founder and CEO Komal Choong and Co-founder and COO Anoop Choong were in college, they would flip cars and car parts on the side. While they were buying and selling a lot of those vehicles, Komal told PYMNTS in an interview that “we realized how painful the experience was for the consumer going into a traditional tire shop or repair facility.
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Bank Innovation
SEPTEMBER 18, 2019
China’s UnionPay, the world’s largest card issuer with 57.6% of the world’s payment cards in circulation, has global ambitions. Its latest move is a memorandum of understanding with digital payments giant Wirecard, a partnership which will help it expand to new markets and craft new payment solutions for foreign visitors to China. Wirecard, which has […].
Chris Skinner
SEPTEMBER 30, 2019
I’ve heard many ex-bankers who joined a FinTech start-up, challenger bank or similar, say that they’ve achieved more in the past year than in the past decade. They claim to have achieved more with £1 million than they would have achieved before with £100 million in a bank. They’ve developed … The post A start-up’s month is a banker’s decade appeared first on Chris Skinner's blog.
Chris Skinner
SEPTEMBER 15, 2019
For all the talk about how well FinTech start-ups are doing, I hear two regular laments from bank CEOs. First, why aren’t we valued like FinTechs? and second, why aren’t FinTechs regulated like us. On the first point, it’s quite clear that FinTech start-ups are being valued on potential and … The post The two big issues bank CEOs have with FinTech appeared first on Chris Skinner's blog.
Chris Skinner
SEPTEMBER 22, 2019
Building on my recent updates on sustainable finance and such like, it is interesting the word purpose consistently appears throughout the sub-text. Banks need a sense of purpose to attract talent; banks need to shift from shareholder focus to purpose focus; banks must no longer be socially useless but socially useful, … The post The Purpose-Driven Bank appeared first on Chris Skinner's blog.
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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.
Chris Skinner
SEPTEMBER 26, 2019
I’ve been reflecting for a while on the shift of power from America to China, as those who read my musings will know. This is typified by the latest Netflix offering American Factory, backed by the Obamas. It shows the cultural clash between East and West and the rise of … The post What does inclusion mean? appeared first on Chris Skinner's blog.
Chris Skinner
SEPTEMBER 4, 2019
Almost every day, there is an announcement of a new payments innovation. From the success of the likes of Klarna, Stripe and Square in retail payments to the growth of new payment mechanisms like Ripple and JPMorgan’s internal settlement engine, the JPM Coin and the launch of digital currencies from … The post Ripple offer SWIFT an olive branch appeared first on Chris Skinner's blog.
Payments Dive
SEPTEMBER 5, 2019
The insurance industry needs to consider how their payments technologies match up with increasingly disruptive trends in the financial services space.
Chris Skinner
SEPTEMBER 5, 2019
I just spoke at Russia’s Eastern Economic Forum, a Davos for the Russian world and beyond. Hosted by Vladimir Putin there were stellar guests attending including Prime Minister Narendra Modi of India and Prime Minister Shinzo Abe of Japan, as well as other world leaders and Chris Skinner. Hanging out … The post The real reason for a regulatory sandbox … avoiding death and mayhem appeared first on Chris Skinner's blog.
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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.
Payments Dive
SEPTEMBER 17, 2019
While Strong Customer Authentication does not apply directly to U.S. merchants, there are significant implications for retailers that have operations in Europe and gaining a SCA delegation can provide significant benefits.
Chris Skinner
SEPTEMBER 29, 2019
Being conference season, there were many announcements in the past week about headlines companies wanted to gain with their innovations. One of the main headline grabbers for me came from R3. These included: Mastercard partners R3 … R3 and Infosys complete blockchain trade finance trial Wells Fargo’s Stablecoin ‘Faster, Cheaper’ Than SWIFT … The post Blockchain: a solution looking for a problem?
Chris Skinner
SEPTEMBER 2, 2019
I was listening to questions at a meeting this week where one of the audience asked if I needed to adjust what I say on my travels, to suit the culture of different countries. I thought about it for a second, and realised that I don’t. I do adjust the … The post The diversity of financial technologies appeared first on Chris Skinner's blog.
Chris Skinner
SEPTEMBER 23, 2019
During my writing about a purpose-driven bank, I tried to find good examples of what purpose-driven actually means. Googling the question the number one result is from the Plato Project, who outline eight great purpose-driven organisations. The list is: Whole Foods “With great courage, integrity and love,” reads the higher … The post What does “purpose-driven” really mean?
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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
SEPTEMBER 16, 2019
I was recently asked by Volante Technologies to consider what being a digital bank means, specifically for a commercial bank and, even more specifically, the bank’s payments and treasury services. After all most of the focus on digital banking and digital payments has been in the retail sector, where consumers … The post Corporate cloud-based payments: what’s that all about?
Chris Skinner
SEPTEMBER 9, 2019
I was talking with a senior banker, who told me that he was in charge of the Artificial Intelligence program in the bank. I was impressed as he is part of the executive leadership team of the bank and not the CIO. We have invested widely across the board in … The post Where the AI rubber hits the banking road appeared first on Chris Skinner's blog.
Chris Skinner
SEPTEMBER 19, 2019
I was a bit agog and aghast at the recent announcement from 192 US CEOs, who said that stakeholders are now more important than shareholders. This focus upon stakeholders has been an emerging trend for over the past quarter century and here’s what these great US leaders said: Statement on … The post Greed is good … and my bonus is better appeared first on Chris Skinner's blog.
Payments Dive
SEPTEMBER 10, 2019
The moving and storage industry can benefit tremendously from upgrading to a modern payment system that supports EMV and allows for alternative payment options.
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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