November, 2017

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FIS Opens Its API Portal and Invites Banks & Fintechs to Come Play

Bank Innovation

EXCLUSIVE— Financial services technology provider FIS will use its new API portal to help banks and fintechs alike develop new capabilities, partnerships, and innovations, Rob Lee, chief product officer for FIS, told Bank Innovation. “There’s a variety of services available [on the platform]—mobile banking, customer acquisition services, we tried to hit on a wide spectrum […].

Fintech 368
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Introducing Exscudo

Chris Skinner

I’m involved in quite a lot of start-ups, ICOs and funds these days, and recently started a mini-series of interviews with them, as I think it will be of interest to readers of my blog. In the second of this series, I’m interviewing Andrew Zimine, CEO and founder of Exscudo. Hi … The post Introducing Exscudo appeared first on Chris Skinner's blog.

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Black Friday: Mobile payments sputter at the physical POS

Payments Dive

Despite the less-than-stellar numbers for in-store, proximity-based mobile payments, Cyber Monday set a record for mobile-based remote payments.

Mobile 279
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UPS Hits Retailers With Holiday Shipping Fee Surprise

PYMNTS

With the holiday shopping season in full swing, retailers are facing a new challenge: extra shipping fees during the busiest weeks. The Wall Street Journal reports that United Parcel Service (UPS) is adding on a surcharge to packages shipped to homes around Black Friday and the week before Christmas in a move to compel retailers to send their orders outside those peak periods.

Retail 217
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Fall In Love With the Month-End Close

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.

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CISO importance is prompting internal role change

Accenture

The value of the Chief Information Security officer has never been more evident, but is the role well defined and structured enough? Banks have witnessed a spate of cyber breaches recently with the financial sector experiencing 300 percent more cyberattacks than any other industry. More than 75 cyberattacks against financial services companies were reported in first nine months of 2016.

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4 Startups to Watch: Templum, AppZen, NKM Capital, and More

Bank Innovation

EXCLUSIVE- With mobile banking, artificial intelligence, cryptocurrency, and other modern banking tools on the rise, the emergence of new players in the fintech space is a daily occurrence With that in mind, here are five startups to keep an eye on this week: Templum ICOs, or Initial Coin Offerings, are growing more and more popular […].

Capital 356
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Will Sweden be the first cashless country?

Chris Skinner

As Sweden was the first European country to use cash for payments back in 1661 [link] it’s unsurprising that it’s the first European country that wants to be cashless. This is why, for several years, I’ve been watching the regular speeches by Lars Nyberg, Deputy Governor of the Sweden’s central … The post Will Sweden be the first cashless country?

Payments 306
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Security experts: Exposed data increases cyber risks

Payments Dive

Cybercrime presents a serious threat and companies have a lot of work to do to reduce their vulnerability. Fortunately, there are resources available to assist them in the effort.

Security 246
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Building A Faster, Safer Network On The Blockchain

PYMNTS

When it comes to business, it’s no secret the competition is fierce. But in an increasingly interconnected world, even competing companies need to collaborate. Rival banks and financial institutions (FIs) need to work together to serve customers and transfer money between banks. Car dealers need parts from competing suppliers and manufacturers to keep repair shops and vehicles running without a hitch.

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5 Ways You Can Win Faster with Gen AI in Sales

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.

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Key themes at Sibos 2017

Accenture

Connecting more than 8,000 decision makers and thought leaders across the industry, Sibos 2017 in Toronto was once again the platform where the global financial community explored the disruptions and opportunities in payments driven by innovation, technology and new business models. Each year we report on the themes we observe at Sibos to help readers keep on the pulse of the payments industry.

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How open banking and APIs are changing Mastercard's business strategy

Bobsguide

This interview was originally published on our sister website PaymentEye. James Anderson is Executive Vice President of Digital Payment Products at Mastercard. Based in New York, he leads his multi-national team to redefine the way the business examines the emerging payments.

Strategy 155
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Banks Should Take Advantage of API Opportunities Before They’re Gone, FI.SPAN Says

Bank Innovation

EXCLUSIVE—Banks need to start integrating with more fintech services and building out more products through APIs, FI.SPAN CEO Lisa Shields told Bank Innovation, before regulations on open banking start to cramp what FIs can build. “What we are betting our business on, is that there is a massive opportunity for banks to innovate,” Shields said. […].

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Does digital transformation actually matter?

Chris Skinner

I regularly talk about BBVA (Spain) and DBS (Singapore) as banks that are doing the right things for digital transformation. They both started early, have a leadership team who are committed and have been driving down this road with results. Results in terms of awards and recognition within the technology … The post Does digital transformation actually matter?

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The Role of Automation in Commercial Lending

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.

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Merchants can beat the Black Friday blues with faster payments, safer data

Payments Dive

While this period brings great opportunity for retailers, it also creates considerable challenges. Retailers must respond to evolving behaviors and manage huge increases in footfall, but still deliver the exceptional in-store experience consumers demand.

Data 244
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Real-Time Payments Successfully Gets Through Its First Test Drive

PYMNTS

The U.S.’s first new payment and clearing system in more than 40 years is up and running. At 4:59:40 p.m. on Monday, $3.50 was moved between accounts at two different banks (there was only one customer with two bank accounts) via RTP, the name for a new “Real-Time Payments” system set up by The Clearing House. All in all, the transfer took three seconds — as opposed to the hours or days more typically associated with an ACH transfer.

Payments 193
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Really want to change your bank’s culture? Change with the business.

Accenture

Culture transformation programmes are ten-a-penny in businesses across all industries. That’s no surprise. The pace of change—technological, economic and competitive—means all large organisations must now think very differently about how they operate and the way their people work. For banks, some extra pressures are pushing them in this direction. Tougher post-crisis regulation has introduced multiple layers of complexity and bureaucracy into their businesses.

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The influencer interview: Chris Gledhill cuts through the hype around AI, blockchain and Big Data

Bobsguide

Chris Gledhill, CEO of Secco Aura and frequently referenced as one of the top 10 fintech influencers, speaks to bobsguide about going beyond 'incremental innovation' towards genuine, irreversible disruption. How did you get into banking? I started off on the tech side with a.

Big Data 149
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Outsource With Confidence for RDC Program Success

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.

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Fintechs Are No Threat to Banks — But Amazon and Alibaba Are

Bank Innovation

The biggest threat for the banking sector is not fintechs. No, according to a recent report by McKinsey, that would be non-banking companies such as Amazon and Alibaba. The report refers to these companies as “platform companies” and calls them the “new heavyweight competitor(s) in town,” for the banking sector. Based on information gathered from […].

Fintech 333
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We still need bank branches

Chris Skinner

For many years we have had discussions about bank branches and a branchless future. I personally don’t believe in a branchless future, but many do. And yes, there are many branches disappearing, much to the annoyance of those who lose that physical store. For example, America still has a large … The post We still need bank branches appeared first on Chris Skinner's blog.

America 292
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Apple Pay Cash: A step in the right direction for mobile payments?

Payments Dive

With its focus on premium influencers and its control over a large ecosystem, Apple is in a unique position to effect massive change where others cannot.

Apple 239
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Investors Tap Into The Promise Of High-Tech Data Analytics In The Enterprise

PYMNTS

It was a busy time for B2B venture capital this week, and while funding ranged across verticals from expense management to SaaS, there was a clear theme in investment rounds: high-tech data analytics. Startups deploying machine learning and artificial intelligence (AI) capabilities are focused on improving corporate processes — from identifying fraud to testing software to managing employee effectiveness.

Analytics 189
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Is Your Current Card Platform Holding You Back?

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

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Ten mega trends that will drive the future of payments

Accenture

In “Paradise Lost”, 17th-century English poet John Milton describes two types of warriors: One group are “employed in sporting games and exercises” and “sing in the valleys”, while the other group “rend up both rocks and hills”, “make wild uproar” and “ride the air in whirlwind”. Milton’s bifurcation also applies to the modern-day payments industry.

Trends 171
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Money 20/20 2017: Five key takeaways

Bobsguide

The annual Money20/20 conference in Las Vegas this year explored key themes and topics shaking up the payments industry. Highlights included keynote speeches from Dan Schulman (CEO, PayPal) and Julie Sweet (CEO, Accenture North America), track sessions exploring how the payments industry requires.

Las Vegas 144
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What’s Next for SWIFT? APIs, Realtime Payments, and Cryptocurrency

Bank Innovation

EXCLUSIVE–With global payments service SWIFT gpi (global payments innovation) finishing up its first active year, how is SWIFT planning to push the service forward in 2018? The banking infrastructure provider will be moving gpi forward through new partnerships and new projects, most notably API capabilities, Stephen Grainger, managing director, head of North America for SWIFT, […].

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The compelling case of Alipay and Christmas

Chris Skinner

We hosted ePassi at our recent launch of Nordic Finance Innovate (NFI) in Helsinki, Finland. ePassi are the partner firm of Alipay, bringing the app to Finland to allow Chinese tourists to pay easily when travelling via Finland to Europe. It’s been very successful as it was initially launched to … The post The compelling case of Alipay and Christmas appeared first on Chris Skinner's blog.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

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.