Chris Skinner
AUGUST 19, 2018
The World Economic Forum has been conducting research over the last year around how AI (Artificial Intelligence) will change banking that was published last week. Here’s the lowdown: Artificial intelligence is fundamentally changing the physics of financial services. It is weakening the bonds that have held together the component parts … The post How AI will change banking appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 30, 2018
Every consumer is a digital consumer, and to be in banking means you have to be in digital banking. Frankly, digital is no longer an expense; it's a necessary investment that can deliver real returns for the financial institution.
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Bank Innovation
AUGUST 6, 2018
Facebook has entered discussions with major U.S. banks in an attempt to gain access to customer data, the Wall Street Journal reports. The exact timing of the request is not clear. At a time when Facebook’s data management is under intense scrutiny, this news is unlikely to be greeted warmly by customers of those banks called out […].
PYMNTS
AUGUST 16, 2018
Belgium, which is home to many European Union (EU) institutions, is also a burgeoning FinTech hub. The country has the fifth-highest number of FinTech deals in Europe, according to an analysis from Belgium-based European FinTech platform B-Hive. The average FinTech deal size in the region is doubling, but B-Hive noted a decrease in the number of deals.
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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.
Payments Source
AUGUST 23, 2018
After the 2008 banking crisis, centralized payment systems and financial services don’t have as much appeal to the younger set as a more transparent decentralized system, argues Csaba Csabai, founder and CEO of Inlock.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
AUGUST 1, 2018
I’m off to Chile next week and thought, in preparation, I’d look at the state of FinTech in Latin America. So far, I’ve spent fair time in Colombia, Brazil and Argentina, and see these as the three major centres of activity along with Mexico. Equally, I meet a lot of the … The post The State of FinTech in Latin America appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 28, 2018
Andrew Jamieson, the director of security & technology for the identity management & security unit at UL, writes that many technologies that would be enabled by biometrics are still vulnerable to spoofs and hacking.
Bank Innovation
AUGUST 15, 2018
Large banks, e-commerce moguls like Amazon and eBay and tech firms are likely to enter the alternative lending space, and soon, according to Eden Amirav, co-founder, and CEO of startup LendingExpress. In markets like Australia, this is already happening. National Australia Bank set up its own alternative lending arm called QuickBiz Loans back in 2016.
PYMNTS
AUGUST 16, 2018
All you need is a hot idea and some funding. All you have to do is listen to what consumers say they want. The big players have an inherent advantage. Meetings suck the creativity out of any worthwhile project. Those are some of the common myths of innovation , and they apply to the payments world. At best, they are superficially true, ne’er-do-well siblings of cliché.
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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
Independent Banker
AUGUST 26, 2018
“Community service is a timeless tradition that’s core to every community bank.”. By Rebeca Romero Rainey, President and CEO, ICBA. As I work on this column, I’m in Santa Fe, preparing to speak at the Independent Community Bankers Association of New Mexico’s annual convention. I was chairman of this great organization 10 years ago, and the theme of that convention was “Independent Community Banks—A Timeless Tradition.
Insights on Business
AUGUST 27, 2018
Three years ago, a group of IBM Cloud experts, myself included, answered an important question still facing nearly every incumbent bank worldwide today: How can we rethink our architecture to better serve our customers with more innovative applications, through more agile, faster development? Though this question has a simple answer for many industries — move client facing functions to the cloud — it’s not that simple for the financial services industry.
Chris Skinner
AUGUST 21, 2018
I’ve been thinking for a while now about building a new financial system from the ground up using AI, blockchain, the Internet of Everything and other technologies. What would it look like? What would we build? I guess the piece that inspired a lot of my thinking came from two … The post The future financial world is here appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 2, 2018
A recent study from A.T. Kearney urges FIs en masse to begin issuing contactless cards now that merchants have the necessary payment terminals and consumers are more aware of the “tap,” thanks to NFC-enabled mobile payments.
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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
AUGUST 14, 2018
Whether it’s a consumer lender like Goldman Sachs’s Marcus or a point-of-sale lender like Affirm or even SMB lenders like BlueVine, there is a lot of perceived opportunity in the lending market. Add a P2P dimension to that, and you have Lenmo. The new app is launching in the next few weeks in Apple’s app store, […].
PYMNTS
AUGUST 15, 2018
The founder of crypto startup Savedroid , which just raised $50 million in an initial coin offering (ICO), posted two photos on his Twitter account a few months ago — one of him at an airport and another one of him at the beach. The caption? “Thanks guys! Over and out.” While it seems that Savedroid Founder Yassin Hankir pulled off a fake “exit scam,” the real ones are becoming a problem.
Bobsguide
AUGUST 29, 2018
Techfin might be a more appropriate name for the rise of challengers in the UK’s financial services. “This isn’t banking as you know it” immediately greets the eye on Monzo’s website. Elsewhere, bud, the aggregator app, went so far as to claim not to be a fintech at.
Insights on Business
AUGUST 28, 2018
The word “reinvent” is something you hear all the time. Reinvent yourself. Don’t reinvent the wheel. But what does reinvention really look like? The word reinvent means to change something until it is entirely new. It is nothing less than a complete transformation. This concept of reinvention was the topic of the recent FSM annual flagship event — “Reinventing Financial Services: Leading the Future-Ready Enterprise.
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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
AUGUST 14, 2018
I haven’t written about blockchain for a while. I guess it’s because I got bored of it. I’m not bored of the promise of blockchain and distributed ledger technologies. Just bored of how much hype there has been and of so many companies claiming to have the latest blockchain breakthrough. … The post Do we need a blockchain? appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 23, 2018
Executives from Caesars Entertainment, Guess?, McDonald's and Skogen's Festival Foods discussed mobile messaging at the recent CONNECT: The Mobile CX Summit in Chicago.
Bank Innovation
AUGUST 10, 2018
The sophistication of cyber attacks on financial services continues to evolve, yet instances of long-established tactics like email phishing and malware attacks persist. A July 2018 study conducted by Proofpoint, a Sunnyvale, Calif.-based cybersecurity software company, found that email is the “most frequent source of advanced attacks.” But the attack vector has shifted slightly.
PYMNTS
AUGUST 14, 2018
In technology, innovation, of course, is as critical as oxygen, fueling the “next big thing” and boosting top and bottom lines. And shoring up that “next big thing” comes with patent filings, part of the arsenal of protecting intellectual property, shepherding concept to reality. And, according to Cipher , a data insights firm based in the United Kingdom, in FinTech, the patent race is one that is seeing some clear winners, among them large tech firms, with traditional banks trailing.
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.
Bobsguide
AUGUST 15, 2018
The UK's Financial Conduct Authority (FCA) and Competition & Markets Authority (CMA) has released data on quality of service for the first time, marking a historic step for Open Banking and putting a mass of customer data in the hands of fintechs and comparison.
Payments Source
AUGUST 15, 2018
In blockchain, a dispersed network of stakeholders takes over the previous owners of such services. These providers and users not only own but maintain the services that are powered by the blockchain. They also get to share the profits that are produced by the services, contends Donika Kraeva, communications manager at Dentacoin.
Chris Skinner
AUGUST 14, 2018
I was listening to Andrew Keen, digital sceptic, giving a keynote at a conference. He was lambasting the way in which the internet had developed, and the fact that it had gifted power to a small, select few companies, who own the world. Apple, with its trillion-dollar valuation, could buy … The post Zuckerberg, Gates, Bezos, Ma & Co are destroying the world appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 9, 2018
Blair Newman, chief technology officer at Bell One, explains that while augmented reality apps offer endless possibilities to engage customers not all apps are created equal. He offers up five key aspects to consider before deployment.
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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