Payments Dive
JANUARY 3, 2020
According to some economists, we've been experiencing an extended period of slow growth since the 1970s. What does this mean for the future of cash and ATMs? ATM historian Bernardo Batiz-Lazo explores the topic in his latest blog post.
Chris Skinner
JANUARY 29, 2020
I recently posted a whine about HSBC charging 40 percent on overdrafts: Treating Customers Unfairly The fact I wrote this about HSBC gave the impression it was they who were the target. They are, but so are any banks who treat customers unfairly and the blog was meant to be … The post Free banking? No, it’s 39.9 percent banking! appeared first on Chris Skinner's blog.
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Bank Innovation
JANUARY 12, 2020
Payments giant Mastercard launched a new augmented reality (AR) app this month that lets cardholders get a bird’s-eye view of their benefits. It’s a move that the company hopes will drive engagement and loyalty, and add value to the offerings of its partner financial institutions. “At Mastercard, we’re using our technology and solutions to deliver multisensory […].
PYMNTS
JANUARY 14, 2020
In financial services, demand for ease of use and security are sky-high, even for business customers. But for many service providers, achieving one can often mean compromising the other. Payments and financial service providers are facing an even greater challenge in balancing these two capabilities in the age of open banking and cloud migrations, with more opportunities than ever before for sensitive company and customer data to be compromised.
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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.
Chris Skinner
JANUARY 15, 2020
It’s a simple question: what is the purpose of a bank? However, the answers I get are often missing the mark, imho. I get answers like to fund business, to finance progress, to support government, to keep economies stable, to manage risk, to build communities, to allow people to be … The post What is the purpose of a bank? appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 31, 2020
A staggering 90% of small- to medium-sized enterprises fail. Aside from operations and strategy, one of the biggest reasons is limited funding or lack of timely cash flow. This is no surprise given that 72% of SME loans are rejected; it takes three months for SME borrowers to get their cash; and still 52% of […].
Chris Skinner
JANUARY 8, 2020
As a regular BA traveller, I’m always pleased to pick up their magazine Business Life as it often has some interesting articles. This year, the magazine has a great write up of forecasts for things that will happen in the 2020s by Tim Hulse. Here are his top 10 things … The post 2020: a decade in technology appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 3, 2020
Speed, scale and engagement — if you say it a few times, really get your vocal cords and mouth into the exercise, there’s a certain snap to those words put together like that. As well there should be — those are among the main traits set to define payments in the 2020s. We here at PYMNTS don’t mean to wear you down with all our anticipation about the new decade.
Accenture
JANUARY 28, 2020
The weather is likely to be unstable for banks in 2020, with a high probability of storms in places. Several continuing and new indicators suggest so—from banking consolidation, Open Banking and AI to eager big-tech entrants, revenue migration and purpose-driven banking. Drawing on input from our “weather” observation points—the many banks and industry tech providers….
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Abrigo
JANUARY 6, 2020
Key Takeaways The most popular BSA/AML and fraud blog posts in 2019 related to staying on top of regulatory changes. BSA and compliance officers wanted to read about SARs, risks tied to cannabis-related businesses, and preparing for CAMS exams. Regulatory change in focus. Bank Secrecy Act (BSA) and compliance officers at financial institutions in 2019 remained focused on staying on top of all of the regulatory changes occurring in the space, and it showed in the articles on Abrigo’s blog that we
Payments Dive
JANUARY 21, 2020
Blockchain technology can provide excellent tools for supply chain management. Former Coca-Cola executive Kraig Adams talks about how he got involved with blockchain technology and how it will transform supply chain management.
Bank Innovation
JANUARY 22, 2020
The race to create a challenger bank just got more competitive with a ready-made solution from core provider Temenos that can help brands stand up a digital bank in as few as 90 days. The Switzerland-based banking technology provider launched its digital banking software-as-a-service solution in the U.S. this week. The toolkit will allow clients […].
Chris Skinner
JANUARY 30, 2020
FinTech investment numbers are variable dependent upon how they are counted. The number I’ve been using for most of last year is that headline amount of $111.8 billion invested worldwide in over 12,000 start-ups. That number came from KPMG in 2019, who noted that most of that investment was flowing … The post London is still the major European FinTech centre 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.
PYMNTS
JANUARY 23, 2020
MoneyGram has partnered with Suez Canal Bank to let customers send money right into Egyptian bank accounts, according to a press release. The deal will expand MoneyGram’s presence in Egypt and give it access to Suez Canal’s large network of correspondent banks around the globe. The bank will also connect with MoneyGram’s platform and offer customers new deposit services to give customers an enhanced experience.
South State Correspondent
JANUARY 7, 2020
MANAGING CREDIT RISK If you are like most banks you have your credit approval and risk process based around loan size. The assumption is that the larger the loan the more risk the bank is taking on so a greater level of risk review is needed. But, suppose the data didn’t bear that assumption out? If that assumption is wrong, then that means that your bank is probably underpricing the smaller loans, overpricing the larger loans, applying the wrong cost structure to the larger loans and misalignin
Accenture
JANUARY 22, 2020
Guest bloggers Philip Cooney and Gaurav Bansal explore the pain points around PSD2 and how banks are trying to reduce friction for their customers. A few weeks ago, I (Phil) submitted my weekly grocery order and set off to meet a friend for dinner. I expected to hear no more about it until my order…. The post Learning to live with PSD2: reducing customer journey friction appeared first on Accenture Banking Blog.
Payments Dive
JANUARY 24, 2020
A new report from Deutsche Bank says that mobile payment adoption will surge in the next five years, but cash will remain a critical part of many economies. In the developing world, underbanked consumers are moving straight from cash-based economies to mobile adoption, and skipping over the adoption of plastic credit and debit cards.
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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.
Bank Innovation
JANUARY 2, 2020
As banks and startups on both coasts compete for new graduates, Fishers, Ind.-based First Internet Bank is using an internship program to keep talent in the Midwest. The program, which lasts a few months, sources talent from local universities. Participants are expected to take a hands-on approach and effect change at the institution. “When […].
Chris Skinner
JANUARY 22, 2020
I’ve just been reading Jim Marous’s Digital Banking Report which ties in nicely with my new book Doing Digital, as the themes are similar. In Jim’s 70+ page report, Jim concludes that: “While there is an almost universal awareness of what needs to be done to digitally transform financial institutions, the … The post Survey: Banks just aren’t ready for digital appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 1, 2020
While one might assume that a payments revolution would be a hard thing to miss, as it turns out, it can happen. It all depends on how closely the world is looking — and what exactly it expects to be looking for. Sometimes, DPO Group CEO Eran Feinstein told Karen Webster, a massive paradigmatic shift can fly under the radar, if it looks just different enough from what the world is used to seeing.
South State Correspondent
JANUARY 12, 2020
GENERATING DIGITAL LEADS Unfortunately, in 2020, most bank websites are nothing more than brochure-ware. That is a problem as not only can a bank’s website be its most efficient source leads, but it should also be the best source of conversions (leads that turn into new accounts and loans). While there are several hundred banks that do handle online lead gen well, it is even rarer to have a bank generate leads from its mobile app.
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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
Abrigo
JANUARY 29, 2020
Key Takeaways The FDIC issued an advisory to FIs encouraging safe and sound lending practices in today's ag lending environment. Ag producers are predominately concerned about liquidity and income; lenders are most concerned about credit quality, competition, and weaker loan demand. Technology has been a key resource for both ag borrowers and ag lenders seeking efficiency, growth, and profitability.
Payments Dive
JANUARY 17, 2020
The use of facial recognition hardware in mobile devices is expected to surge in the next few years, reaching more than 800 million devices by 2024. Facial recognition software however will still dominate.
Bank Innovation
JANUARY 29, 2020
With nearly 200 startups, five major banks, 19 venture capital firms and representation from large tech companies like Google, Facebook, PayPal, Toronto is quickly becoming a center for fintech entrepreneurship. To meet the demands of this growing industry, the University of Toronto’s School of Continuing Studies is partnering with education services company Trilogy to launch […].
Chris Skinner
JANUARY 26, 2020
I’ve watched Davos from afar for years now and often wondered what it would be like to be there so, when I got an invite this year, I took it straight away. The United Nations Media Group asked if I could join them and talk about sustainable finance, which I … The post A Davos Day appeared first on Chris Skinner's blog.
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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