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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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.
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.
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….
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 […].
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
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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
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.
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.
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.
Ron Shevelin
JANUARY 27, 2020
The “next generation” of banking customers isn’t based on age—it’s about need. Who will have new and different banking needs that the industry will have to design and redesign products and services for?
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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.
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 […].
Payments Source
JANUARY 23, 2020
While the size of the global remittances market may ebb and flow with the global economy, one thing is clear – it’s massive, at over $700 billion in payments each year and growing.
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.
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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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
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.
BankBazaar
JANUARY 31, 2020
Missed out on the budget? Catch up on all the highlights and what they mean for you here. As India set its eyes on the Union Budget announcement by finance minister, Ms Niramala Sitharaman, one of the biggest expectations was that the budget will help revive the economy and pull it out of one of the worst economic slowdowns in decades. To this end, the government proposed a slew of changes and incentives among which was a major tax rejig.
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 […].
CFPB Monitor
JANUARY 21, 2020
On January 7, 2020, Chief United States Bankruptcy Judge Cecilia G. Morris of the United States Bankruptcy Court for the Southern District of New York issued a notable opinion in the case of Rosenberg v. N.Y. State Higher Education Services Corp. , granting summary judgment in favor of a U.S. Navy veteran who was seeking to discharge $221,385.49 in federal student loan debt.
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.
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.
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.
PYMNTS
JANUARY 20, 2020
The rumors about hand-based payments out of Amazon have been building for the last few months. In early September 2019, reports emerged that Amazon was testing hand recognition-based payments at Whole Foods locations using its New York employees and some custom-fitted vending machines as an initial experiment. There were also New York Post reports that the technology might make an appearance at Whole Food checkouts this year.
BankBazaar
JANUARY 23, 2020
Using a mobile app to track your spends and yet ending up spending recklessly at the end of the month? Here’s a novel way to rein in those mindless spends: the Kakeibo saving method. Spending and saving money can seem like mutually-exclusive concepts that are often at loggerheads with each other, but they both can actually go hand in hand. This does not require painstaking calculations or spending a bomb on financial advisers.
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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