Bank Innovation
SEPTEMBER 14, 2016
Image source I struggled with the headline for this post because the news connects to so many different themes we cover on Daily Fintech: Real use cases for Blockchain. Catastrophe Insurance and Climate Change. Financial Inclusion. Innovation by Incumbent Financial Services. The new global back office. The unbundling of vertically Read More.
Chris Skinner
SEPTEMBER 13, 2016
I was at a conference the other day when the presenter showed this quote from the Wall Street Journal: The question is so simple it seems silly: What is a bank? Of course you know the answer. A bank pools savings and then allocates that capital. Simple, right? But that’s just the start. In 2016 a … The post What is a bank? appeared first on Chris Skinner's blog.
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Payments Dive
SEPTEMBER 22, 2016
FIs and payment processors have a major opportunity to collaborate with FinTech pioneers such as Moneymailme to serve the growing market for mobile social media money transfers.
Accenture
SEPTEMBER 15, 2016
Things are changing for banks. People are moving on. They are making their own financial arrangements and leaving the banks to deal with their outdated demographic models. Banks need to look at people—their current and prospective customers—with fresh eyes, understanding. Read more.
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PYMNTS
SEPTEMBER 26, 2016
“It’s better to be a dog in a peaceful time, than to be a human in a chaotic period,” is the literal translation of what has been proffered over the years as English translation of the Chinese saying “May you live in interesting times.”. That, of course depends on who you ask. I recently asked Paul Galant, CEO of Verifone. From his days as CEO of Enterprise Payments at Citi to now CEO of the world’s largest electronic POS technology provider, Galant has seen and lived thru a number of interestin
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
SEPTEMBER 24, 2016
ID:38626297 Image source. Next week, 8,000 bankers and their vendors fly into Geneva for 4 days of talking about FinTech. Last year I had to fly to Singapore. This year, I can just hop on a train from Bern (sayonara jet lag). Last year Emergent Fintech started to move onto Read More.
Chris Skinner
SEPTEMBER 14, 2016
5,300 Wells Fargo employees have been caught faking customer account openings in order to hit their sales targets. That sounds pretty disgusting doesn’t it, but it’s nothing new. In fact, we here in old America or, as some call it, Britain, have been living with this for half a decade. During the 2000s, leading up … The post Bankers should not be retailers [Wells Fargo] appeared first on Chris Skinner's blog.
Payments Dive
SEPTEMBER 16, 2016
Thomas Rosteck from Infineon discusses the challenges preventing the growth of mobile payments at the physical point of sale.
Accenture
SEPTEMBER 26, 2016
In my previous post I described Accenture’s framework, which includes the six key success factors of credit innovation that enable players to achieve performances comparable to new digital competitors: improve data quality, reshape customer experience, streamline instant loan process, boost. Read more.
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Abrigo
SEPTEMBER 30, 2016
For many banks and credit unions, it is hard to feel anything but stuck between a rock and a hard place right now. In the current market, banks and credit unions are facing pressure on all fronts. Interest rate margins remain slim, and FinTech companies that compete directly with traditional banks and credit unions seem to pop up overnight. At the same time, the regulations governing financial institutions continue to become increasingly complex and demanding.
South State Correspondent
SEPTEMBER 21, 2016
Of all the top performing banks, the one that we are most envious of and follow the most closely is Live Oak Bank. Chip Mahan and his team of high performers have reverse engineered the best parts of banking. The result is a radically altered business model that achieves performance through its simplicity – profitable products to profitable customers.
Bank Innovation
SEPTEMBER 27, 2016
Consumer card transactions will overtake cash transactions for the first time in 2016, according to global research firm Euromonitor International. Cash is expensive to manage and is extensively used in the underworld. “A less-cash society would be a fairer and safer place,” Kenneth Rogoff, a professor of economics at Harvard, wrote Read More.
Chris Skinner
SEPTEMBER 22, 2016
I haven’t blogged about InsurTech much, as this is a banking blog, but having started life in the insurance industry I guess it’s time to shine a light on this corner of the financial world. My first hearing about InsurTech, or InsTech if you prefer, was in a US conference a couple of years ago … The post InsurTech: changing the world of risk 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.
Payments Dive
SEPTEMBER 13, 2016
Thorston Held, co-founder and managing director of whiteCryption, examines the recent POS security attacks and what they mean for mobile payments.
Accenture
SEPTEMBER 23, 2016
The Clint Eastwood movie, Sully, has received excellent reviews for depicting the reality of decision making under intense pressure. It would have been a different movie if Sully had had the option of climbing onto the wing and swapping out. Read more.
Abrigo
SEPTEMBER 27, 2016
Accountants and valuation professionals may be asked to opine on the value of businesses for many different circumstances. It could be that a business owner asks casually about the value of his or her business as a first step to planning an exit strategy. Another situation could involve a partnership split or a high-profile divorce, such as Angelina Jolie’s recently announced split from Brad Pitt, where one or both parties have business interests that could eventually become part of related liti
South State Correspondent
SEPTEMBER 28, 2016
We have the benefit of talking to hundreds of commercial borrowers across the country.
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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
SEPTEMBER 22, 2016
A new report says artificial intelligence and IoT are going to transform fintech before blockchain, which still has some growing up to do. The rise of AI and the Internet of Things (IoT) is happening rapidly—and according to a Forrester Research report released earlier this month, these are the two technologies that Read More.
Chris Skinner
SEPTEMBER 26, 2016
I’ve blogged a few times about GAFA – Google, Apple, Facebook, Amazon – as the worrisome Gang of Four. Sure, we can worry about them, but the thing is to stop worrying and do something. Australian banks decide to stop Apple by taking them to court; British banks would rather partner with all of them; … The post Forget GAFA, the real threat is FATBAG appeared first on Chris Skinner's blog.
Payments Dive
SEPTEMBER 20, 2016
Kristian Gjerding, CEO of CellPoint Mobile, writes in his latest Mobile Payments Today blog post about what airlines need to consider when it comes to incorporating mobile payments into their apps.
Accenture
SEPTEMBER 29, 2016
In today’s fast-moving digital world, corporate clients are demanding different products and services from transaction banks to better serve their needs. Today’s corporates have a need to decrease cost of treasury operations and have greater insight and control over their. Read more.
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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
SEPTEMBER 21, 2016
A common problem impacting productivity and the ability to serve customers is inefficient processes. Many of these are inherited and accepted as “just the way we do things.” But in order to work smarter, not harder, and provide a good experience for customers, inefficiencies should be challenged in favor of fresh ideas and processes. Across the banking industry a current strategic focus is loan growth – increasing the portfolio by both acquiring new customers and expanding services offered to ex
South State Correspondent
SEPTEMBER 12, 2016
There is a recent trend that we have been monitoring of banks offering a mid-priced business checking account that is designed for borrowers that are small but have high transaction volume. M&T Bank, for example, was the latest bank to roll out such an offering. A high transaction checking account can be offered to customers that have high transaction volume and more sophisticated treasury management needs but don’t want to move into full analyzed checking.
Bank Innovation
SEPTEMBER 30, 2016
Earlier this year, Capital One and Amazon teamed up to put the Capital One “skill” on the Amazon Echo—as of now, Capital One customers who have the Echo or Echo Dot (anything with Alexa) can access their bank accounts using their voice. Capital One is currently the only financial institution Read More.
Chris Skinner
SEPTEMBER 19, 2016
I was having a nice relaxing Sunday, when alerted to a tweetfest taking place between industry heavyweights Simon Taylor (an ex-banker) and Mariano Belinky (a banker). It all started with: Fintech didn’t disrupt banks but banks are slowly dying. Creating an ever growing opportunity for #fintech — Simon Taylor (@sytaylor) September 18, 2016 @sytaylor low … The post Banks are not dying appeared first on Chris Skinner's blog.
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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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