Chris Skinner
SEPTEMBER 1, 2019
I was talking with a CXO of a bank. They are actively engaged in ‘going digital’, but she was sharing with me that the bank’s executive team had no idea what going digital means. Being brutally honest, she told me she had no idea what it means either. I was … The post We just haven’t got a clue what to do! appeared first on Chris Skinner's blog.
South State Correspondent
SEPTEMBER 4, 2019
LEARNING FROM NON-BANKS Last week we tagged along with The Bank of Charles Town (BCT) crew who, like us, are heavily believers in “cultural tours.” BCT used a series of these tours to kick off their strategic planning season with the purpose of grabbing ideas that could spark creative thinking. Almost every time we debate if it makes sense to put the crush of our To-Do List on hold for a day and spend time at an unrelated industry.
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Payments Dive
SEPTEMBER 3, 2019
Digital banking is growing rapidly in the U.K., as challenger banks are gaining share among non-millennnial users and winning over customers with strong customer service. The report warns, however, that few of these upstart banks are actually turning a profit and the pace of growth cannot continue at the same pace forever.
Bank Innovation
SEPTEMBER 4, 2019
Square, which is best known for its physical and digital payment solutions, is building out its product ecosystem to manage nearly all of the operational needs of retailers. The goal is allow retailers to be able to easily coordinate online and offline transactions, including orders, customer relationships, inventory and more, from within the Square family […].
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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
SEPTEMBER 4, 2019
Almost every day, there is an announcement of a new payments innovation. From the success of the likes of Klarna, Stripe and Square in retail payments to the growth of new payment mechanisms like Ripple and JPMorgan’s internal settlement engine, the JPM Coin and the launch of digital currencies from … The post Ripple offer SWIFT an olive branch 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.
Payments Dive
SEPTEMBER 5, 2019
The insurance industry needs to consider how their payments technologies match up with increasingly disruptive trends in the financial services space.
PYMNTS
SEPTEMBER 5, 2019
In China, the central bank will debut a state-backed cryptocurrency that initially will be issued to seven institutions in that country, Forbes reported this week. The news comes from Paul Schulte, who was head of financial strategy for China Construction Bank. He told the financial publication the firms include the Industrial and Commercial Bank of China, the Bank of China, Alibaba, Tencent, Union Pay and others.
Chris Skinner
SEPTEMBER 5, 2019
I just spoke at Russia’s Eastern Economic Forum, a Davos for the Russian world and beyond. Hosted by Vladimir Putin there were stellar guests attending including Prime Minister Narendra Modi of India and Prime Minister Shinzo Abe of Japan, as well as other world leaders and Chris Skinner. Hanging out … The post The real reason for a regulatory sandbox … avoiding death and mayhem appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 5, 2019
With the rise of digital-only challenger banks, it’s easy to overlook Ally Bank. But Detroit-based Ally, which has no branches, was the one of the earliest digital-only banking players, rolling out a product suite a decade ago when it rebranded from General Motors Acceptance Corporation. Since then, Ally has acquired more than 1.9 million customers and […].
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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
Payments Dive
SEPTEMBER 6, 2019
Banks and payment networks found themselves highly vulnerable to the recent spate of major hurricanes. Governments, industry organizations and financial institutions have been looking for ways to strengthen these vulnerable systems to make sure consumers and merchants can continue to function during disaster recovery periods.
PYMNTS
SEPTEMBER 4, 2019
Amazon is testing a new payment system that uses handprints for checkout instead of a card or an app, The New York Post reported on Tuesday (Sept. 3). Codenamed “Orville,” the technology will scan human hands to ring up purchases. Sources told the NYP that the e-commerce giant is using its New York employees as test subjects by installing the system on a handful of vending machines selling chips, sodas and phone chargers in its offices.
Chris Skinner
SEPTEMBER 2, 2019
I was listening to questions at a meeting this week where one of the audience asked if I needed to adjust what I say on my travels, to suit the culture of different countries. I thought about it for a second, and realised that I don’t. I do adjust the … The post The diversity of financial technologies appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 3, 2019
Volkswagen Bank, the financial services arm of the German automaker, is turning to QR code-like technology to fight threats posed by hackers. The bank, which focuses on vehicle and dealer financing, implemented the new technology with the help of OneSpan (formerly Vasco), a security and e-signature solutions company based in Chicago. The OneSpan solution is called […].
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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.
Payments Dive
SEPTEMBER 3, 2019
This report shares some of the current, most popular standards that companies are considering for new IoT and M2M deployments. You'll also see what the future holds with 5g connectivity.
PYMNTS
SEPTEMBER 3, 2019
The famous 17 th -century political satirist and author, Jonathan Swift , wrote in 1745 that “vision is the art of seeing things invisible.” Two hundred and seventy-four years later, those words are the perfect framework for understanding what will define the next decade of innovation in payments and any ecosystem that touches it. Which, increasingly, is just about every ecosystem.
Chris Skinner
SEPTEMBER 3, 2019
Talking of diversity of views and strange conversations, I was in discussion with an American bank the other day and they asked me if Europe would survive this crisis. I thought they meant Brexit, and started waffling on about whiff-whaff and Boris Johnston but no, they stopped me mid-sentence and … The post The diversity of financial markets appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 6, 2019
In a bid to grow its deposit base, digital-only Radius Bank is folding debit-based rewards and high-yield savings into one product called Rewards Checking. The account offers 1% cash back on debit transactions and up to 1.2% APY on savings. To access the savings, however, customers need to keep at least $2,500 in their rewards […].
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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
Payments Dive
SEPTEMBER 5, 2019
FSS helps a leading processor in Jordan to modernize its billing and settlement infrastructure.
PYMNTS
SEPTEMBER 3, 2019
Today if one says the word eBay anywhere in the U.S. — and in multiple spots around the world — you will be hard-pressed to find someone who doesn’t instantly know as to what you are referring. They may never have made a purchase on the online marketplace, but the odds are good they know at least one good story about something bought it on eBay story.
Chris Skinner
AUGUST 31, 2019
The main blog headlines are … Where Top US Banks Are Betting On Fintech After yesterday’s article about how backward America is, in terms of payments, there’s a useful article talking about how they’re trying to rectify this. Bearing in mind that the big American banks are all spending $10 … The post The Finanser’s Week: 26th August – 1st September 2019 appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 4, 2019
Credit Sesame, the San Francisco-based credit score monitoring and advice platform, is building out its AI-based credit management tools with the help of a major fundraising round last week. The nine-year-old company has long provided users with free credit scores and monitoring, and it offers insights into ways to improve credit scores like lowering card […].
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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.
Payments Dive
SEPTEMBER 3, 2019
The value of IoT is data that drives action. Maintaining a reliable, secure connection is critical to realizing this value.
PYMNTS
AUGUST 31, 2019
As U.S. household debt climbs, financial health startup Credit Sesame has raised $43 million ahead of its planned IPO, as reported on Friday (Aug. 30). Debt in the country stands at nearly $14 trillion. Credit Sesame aims to expand the available tools to help consumers better handle outstanding loans. Consumers can use the service to check their credit scores and evaluate options to improve their overall financial health.
Chris Skinner
SEPTEMBER 5, 2019
Things we’re reading today include … A new digital bank is scooping up teenage customers before big banks get to them Smile-to-pay: Chinese shoppers turn to facial payment technology Names and phone numbers of 18m British Facebook users found online, prompting privacy watchdog probe UK slips closer to recession as … The post Things worth reading: 6th September 2019 appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 6, 2019
As banks increasingly take transactions to digital channels, the process to acquire customers also is shifting online thanks to technology that matches product offers to customers based on data. Indeed, Even Financial, a four-year-old startup, has built just such an API to help banks find customers. This week, the New York-based company confirmed a $25 […].
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Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se
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