Chris Skinner
AUGUST 4, 2017
Some people talk about FinTech disruption and how payments and banking is being attacked and unbundled by start-ups, but we often look at banking too simplistically. Global banks and investment banks are far more complex creatures than their high street counterparts, which is why we’ve seen far less disruption in … The post FinTech and the world of investment banking appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 17, 2017
Silicon Valley, New York City, and Boston all have thriving fintech communities, and are definitely worth a trip for the invested fintech entrepreneur, but the U.S. is already seeing a cluster of other fintech hubs emerge. These cities boast strong tech communities, talent pools, good coffee, and cheaper rents. Cities in Georgia, Texas, Florida, and […].
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Payments Dive
AUGUST 17, 2017
Across the globe, financial institutions are under mounting pressure to meet high consumer expectations, capture and retain market share, and secure mobile transactions – all at the same time. Some are lagging, while others are upgrading technologies and investing in innovation and testing departments. So, how did we get here?
Abrigo
AUGUST 16, 2017
A recent Sageworks whitepaper addresses how banks and credit unions can leverage digital channels to grow the loan portfolio and remain competitive with the emerging trend of alt-lenders in the small business lending space. The banking industry has historically been able to play defense against newcomers because of regulatory and legal barriers to market entry.
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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.
PYMNTS
AUGUST 9, 2017
Sound travels at 767 miles per hour, so if you want a faster contactless payment, audio waves aren’t a bad vehicle for it. But harnessing audio waves for payments purposes is easier said than done, because it’s not like developing an app. It represents the development of a whole new technology, and reliability and security are just as important as speed — otherwise, this alternative payment method would be no better than the electronic payment methods that came before it.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
AUGUST 30, 2017
A short time ago, I hosted an interesting group for the Nordic Finance Innovation meetings. The meeting gathered several of the leading-edge Banking-as-a-Service (BaaS) companies that have launched in the last few years including Bud, Clearbank, Leveris, Saxo Bank and Solaris. Building on each others narrative it soon became clear … The post Lego bank is here, but it’s not built with Lego appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 18, 2017
Focusing on commerce and mobile shopping led to a 56% year-over-year revenue jump for Ant Financial’s parent company Alibaba, and the company is going to keep that focus as it moves forward into the U.S. market. Alibaba’s revenue grew to about $7.4 billion, the company reported during its earnings yesterday, mainly due to the tight […].
Payments Dive
AUGUST 4, 2017
Mobile remote deposit capture is not the trendy feature it once was for banks. It's expected. Today, consumers desire a way for banks to help them make the best decisions with their money.
Abrigo
AUGUST 3, 2017
Is it reasonable to expect a chef to prepare a gourmet meal when her only resources are dull knives, expired food and an oven that does not heat properly? Of course not, because despite the chef’s training and experience, she lacks the basic tools and quality ingredients necessary to even create something edible, much less exquisite. The same holds true for CPAs and business advisors trying to create a thriving practice without proper technology or staffing.
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Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.
PYMNTS
AUGUST 10, 2017
Banks and FinTech companies have a complicated history. To put it mildly, the two sides have not always worked harmoniously together. Why the tension? Both types of institutions contend for the same business in the competitive financial services world. While traditional banks offer a more established and tested set of products, the offerings of newer FinTech companies — such as real-time data, streamlined payments and quick notifications — are helping these new players encroach on banks’ t
Accenture
AUGUST 7, 2017
Five themes are driving change in payments today. Individually they have a significant impact on the way we pay. Combined, these effects are amplified, creating a powerful force on the payments landscape, which, if you like, we can call Payments^5. Firstly, banks across Europe are preparing for PSD2 inJanuary 2018, much of it focused on building open API capability.
Chris Skinner
AUGUST 25, 2017
I get press releases all the time and generally ignore them. In fact, I don’t know why they email me, as I never post them on the blog. Uh-oh. I just got one that I’m posting on the blog. Floodgates opening. What will happen when Amazon opens a bank. … The post Is Amazon About to Burst Banks? appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 25, 2017
It is no secret that Mobile Banking is increasing becoming a popular way of banking for many users. Its convenience and efficiency has made it an important way of banking. In fact, in a report published by RaddonSM, a subsidiary of Fiserv, shows that mobile banking usage has grown from 7% of all consumers in […].
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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.
Payments Dive
AUGUST 29, 2017
Church's Chicken offers up a unique feature in its mobile app: a curated music playlist.
Payments Source
AUGUST 10, 2017
Oracle Corp. is offering a payments application programming interface based on the ISO 20022 standard that will allow banks to more easily collaborate with fintechs and other third parties.
PYMNTS
AUGUST 31, 2017
Blockchain, the technology that makes cryptocurrency like bitcoin possible, is moving into the auto and ridesharing markets. According to a news report in Reuters , EY, the consulting unit of Ernst & Young Global, announced Wednesday (Aug. 30) it is launching a blockchain system that will let companies and/or individuals share vehicle ownership more easily.
Abrigo
AUGUST 30, 2017
The changes inherent in the shift from FASB’s incurred model to the current expected credit loss model (CECL) present many challenges for financial institutions and accounting professionals alike. However, the transition from an incurred model to estimating expected credit losses is not meant to be a cumbersome process, let alone one that is unmanageable.
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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.
Chris Skinner
AUGUST 18, 2017
I was talking with a few FinTech firms the other day. They are all fully licensed banks, and are less than 15 years old. They all seem to have one thing in common: refreshment. What I mean by this is that they talk about technology in a very different way … The post How often does your bank refresh its apps and architecture? appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 21, 2017
Could personal finance management be the next chapter in free credit-score provider, Credit Karma growing business? Could it leverage its consumer data to branch out into the popular PFM space? Maybe. “We are not engaged in it right now,” Greg Lull, Chief Marketing Officer at Credit Karma, told Bank Innovation. “But I wouldn’t take it […].
Payments Dive
AUGUST 28, 2017
Since the introduction of contactless cards in September 2007, it has gradually become the payment method of choice for many consumers in the U.K as society gradually moves away from cash.
Payments Source
AUGUST 27, 2017
Financial institutions need to take notice of this phenomenon and ramp up their payments infrastructure to support these developments, writes Chet Kamat, senior vice president of Oracle Financial Services.
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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
AUGUST 23, 2017
Being connected via modern technology is something that’s becoming an expectation among consumers. From groceries to home buying, back-to-school shopping and more, there doesn’t seem to be many facets of everyday life that aren’t intricately connected to help provide an enhanced experience for consumers. One of the latest industries to start exploring in connected technologies are banks.
Abrigo
AUGUST 25, 2017
Most partners or valuation professionals are constantly asking themselves this question: How will our firm grow? According to an April 2017 Sageworks webinar poll, 41 percent of attendees selected the top challenge for valuation practices is attracting new clients signifying the biggest challenge for the 275 valuation professionals. With the average, unexpected turnover of business clients in a given firm being between 8 to 15 percent each year, financial professionals are simply trying to figur
Chris Skinner
AUGUST 11, 2017
Just found an interesting document from Harvard Business Review with the title: How financial services views the digital agenda. It is the result of research conducted by the Harvard Business Review with the Genpact Research Institute, looking at the impact of dgitilaisation in finance, and confirms something I have been … The post Banks are failing digital due to legacy and leadership (Harvard research) appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 11, 2017
It’s startup season: the accelerators are adding their new classes, the venture capitalists are packing on the funding, and bright new fintechs are setting launch dates. Take a look at just five of these startups that Bank Innovation will be watching this month: Cushion Arguing with a bank over fees is one of the least […].
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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