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.
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. […].
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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
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.
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.
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 […].
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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
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.
Ron Shevelin
SEPTEMBER 3, 2019
Becoming a full stack player in an industry can give a firm a strong competitive advantage. In banking, fintech startups aren't well-positioned to become full stack. Could Apple or Amazon pull it off?
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.
Insights on Business
SEPTEMBER 26, 2019
In my May 2019 blog, “Has GRC Reached Its Tipping Point? Observations From The Front Lines” , I described a set of common patterns that are driving business initiatives in Governance, Risk & Compliance. These highlighted that: Organizations are transforming their GRC frameworks, They are driving to realize greater benefits from already significant GRC investments, and.
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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
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.
Bank Innovation
SEPTEMBER 30, 2019
Digit, a personal finance app that helps users save automatically, raised $27.5 million in Series C funding on Monday. The new financing will help Digit grow its user base; hire new talent in San Francisco; and grow its core product, a spokesperson for the company said. To date, Digit has raised over $63.8 million in […].
PYMNTS
SEPTEMBER 12, 2019
With an expansion of its Grocery Delivery membership option for customers, Walmart plans to grow the reach of Delivery Unlimited to 1,400 stores later this autumn. The offering allows shoppers to pay a monthly or yearly fee to get unlimited Walmart Grocery Delivery orders. Shoppers, however, can still pay a per-delivery fee without a membership, the company said in an announcement.
BankBazaar
SEPTEMBER 4, 2019
Here are 4 important money lessons that teenagers must know to become financially-wise adults. Read on. . Let’s be honest – financial literacy is not something that is taught in school and financial exclusion of children is something we Indians have mastered over the years. While parents want to provide the best education and quality of life to their children, they often forget to equip them with smart money habits that will be vital for them in the long run.
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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 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.
Payments Source
SEPTEMBER 16, 2019
The CFPB’s enforcement action against Maxi suggests that the CFPB may more aggressively enforce certain rules going forward, writes Jeffrey Alberts and Dustin Norfizer of Pryor Cashman.
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.
Bank Innovation
SEPTEMBER 26, 2019
Citi Ventures, Citbank’s corporate venture arm, is turning to startups that can solve pain points for incumbent banks and financial companies. In particular, it is interested in companies that use data, AI and machine learning to support these approaches, including the identity verification company Trulioo and accounts receivable company HighRadius.
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
SEPTEMBER 13, 2019
Voice recognition could soon play a bigger role in retail — especially in the world of quick service restaurants. That’s the signal sent recently by McDonald’s. The fast food operator recently announced an agreement to acquire Apprente. The company said in an announcement that the arrangement is another bold step in advancing employee- as well as customer-facing innovations while bolstering the technological capabilities of the chain.
BankBazaar
SEPTEMBER 15, 2019
Love to travel but looking for a better way to plan your upcoming trips? Here are some neat tips straight from the books of successful travel bloggers. Gone are the days when travel was just considered a break from work. In today’s world, youngsters are making a living out of being travel bloggers. Sure, there are hurdles and struggles along the way, but with the world opening up new possibilities in the ever-changing digital era that embraces influencers as an organic window to business a
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.
Payments Source
SEPTEMBER 5, 2019
They’ve scrapped the newspapers and beefed up the food, but most Starbucks cafes in the U.S. don’t look all that different today than they did a decade ago. That’s about to change.
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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