Chris Skinner

MARCH 4, 2020

Last week, MIT (Massachusetts Institute of Technology) issued their top ten technologies for the next decade, one of which is digital money: Unhackable internet Hyper-personalized medicine Digital money Anti-aging drugs AI-discovered molecules Satellite mega-constellations Quantum supremacy Tiny AI Differential privacy Climate change attribution This was selected due to Libra and … The post OK, but the end of cash must be in sight?

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American Banker

MARCH 5, 2020

Most states have some kind of pricing limit on consumer loans. But proposals for a national usury law divide even Democrats, some of whom are concerned about restricting credit.

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Bank Innovation

MARCH 2, 2020

JPMorgan Chase & Co. is asking thousands of U.S. employees to work from home as it tests a contingency plan for closing domestic offices should the coronavirus spread, according to people with knowledge of the matter. Managers requested that about 10% of staff across its consumer bank work remotely as part of the plan’s resiliency […].

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US Management Innovation Strategies Strategy 221

Chris Skinner

MARCH 1, 2020

Buzzwords. We have a lot of them. Artificial, autonomous, augmented. Big data, blockchain, bilateral. Crypto, currency, consensus. Distributed, decentralised, democratised. I’m tempted to write the ABC of technology buzzwords, but know there cannot be any that start with X or Z*. However, I’m writing this one today because the word … The post What does ‘digital transformation’ really mean?

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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.

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Payments Source

MARCH 4, 2020

In spite of MGM’s quickly notifying hotel guests impacted by the breach in accordance with applicable state laws, it’s a clear concern that many of the contact details were still valid, particularly the phone numbers, says Shared Assessments' Tom Garrabba.

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Fraud Payments Data 118

PYMNTS

MARCH 5, 2020

Telecom giant T-Mobile suffered a data breach that exposed the personal information of employees and customers to unknown hackers, according to reports. “We want to let you know about a sophisticated attack that we recently identified and quickly shut down, which may have impacted some of your account information,” T-Mobile said in a notice. The company said there was an attack through email that let in some malicious actors.

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Mobile Data Fraud Security 263

Bank Innovation

MARCH 4, 2020

Banks are beginning to recognize that they need to rethink customer experience, and they’re taking cues from startups to do so. Vendors who work with banks, including eGain and Backbase, said at Bank Innovation Ignite on Tuesday that their customers are increasingly taking a startup-inspired approach to the user experience. Vince Bezemer, head of strategy […].

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User Experience Customer Experience Strategy Innovation 243

Chris Skinner

MARCH 5, 2020

Who moved my cheese? Like many of us, I am confused about the world, the future, life and everything. All seems good one day. The next, everything is being cancelled, government tells you to self-isolate, your view of everything is challenged and you have to change to fit. Who moved … The post Who moved my cheese? appeared first on Chris Skinner's blog.

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US 537

Payments Dive

MARCH 6, 2020

Digital banking is poised to take off as incumbent banks move much of their business to mobile channels to compete against a new generation of digital-only startups.

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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

Community Bank

PYMNTS

MARCH 5, 2020

The World Health Organization (WHO) is advising people to not use paper tender and to use as many cashless options as possible to help contain the spread of the coronavirus, according to reports. Officials with WHO say that while cash isn’t more or less likely to spread the disease, it can carry the virus just like door handles and hand railings, and can spread it on contact.

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Bank Innovation

MARCH 6, 2020

Iwoca, a London-based small business lender, announced a debt financing round of 100 million euros ($112 million) last week to fund new loans in Germany.? “We have seen considerable growth in the [German] market,” said Oliver Schmid, general manager of Iwoca. “What sets us apart from banks is we built the system from scratch geared […].

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Lending US System Management 300

Chris Skinner

MARCH 2, 2020

I just received a report from Deloitte about credit and debit cards. It says the future is not so bright: “more payment choices, along with changing consumer preferences, are threatening the long-term viability of the credit card business model.” Damn. I said that fifteen years ago. It made me think … The post The end of cards and cash … just fifteen years late appeared first on Chris Skinner's blog.

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Cards Report Payments Mobile 532

Payments Dive

MARCH 3, 2020

James Thomson knows Amazon, having spent years heading up Amazon Services, and understands the challenges smaller retailers are facing in the e-commerce environment. He explains that while Amazon is the big competitor, it can also be a retailer's big opportunity.

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Retail 396

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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.

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PYMNTS

MARCH 6, 2020

Real-time payments are imperative for running successful operations in today’s global ecosystem. Digital payments sent internationally are expected to move past $1 trillion in 2025, but getting to that point will require support from payment providers, regulators and other such firms still building out the necessary infrastructure. Many of these providers are particularly competing for small- to medium-sized businesses (SMBs) to join their faster payments network over another, which can be trick

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Bank Innovation

MARCH 6, 2020

The inability to reach someone outside of business hours is a source of friction for some digital bank customers, but Rising Bank wants to set itself apart through one-on-one attention. Rising Bank, which is Midwest BankCentre’s digital-only brand, goes to pains to ensure customers get routed to a real person, even if the CEO is […].

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Digital Banking Branding Customer Experience Innovation Strategies 293

Chris Skinner

MARCH 3, 2020

I just found that Deutsche Bank Research issued three in-depth reports in January looking at the future of payments: Part I: Cash: The Dinosaur Will Survive… For Now Cash will survive. But digital currencies’ potential could re-balance global economic power. Part II: Moving To Digital Wallets And The Extinction Of … The post The end of cards and cash … not yet, according to Deutsche Bank Research appeared first on Chris Skinner's blog.

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Cards Report Payments Digital Banking 504

Payments Dive

MARCH 5, 2020

Scott Peterson, VP of U.S. tax policy at Avalara, explains why the technological innovation taking place across the convenience store industry has drastically increased the burden of product management, compliance, and shipping on businesses placing their stake in the omnichannel landscape.

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Taxes Policies Compliance Innovation 371

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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

Cards

PYMNTS

MARCH 2, 2020

Sixty-seven years ago this month, Jonas Salk announced that he had successfully tested a vaccine for polio. Many in the U.S. breathed a huge sigh of relief. In 1952, polio was an epidemic that gripped the country, affecting 58,000 people that year, with 3,000 deaths, many of them children. The summer season was when this highly infectious disease kicked into high gear.

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Bank Innovation

MARCH 6, 2020

Marqeta, a card issuing and processing startup, is partnering with installment lender Afterpay to provide payments solutions for merchants in North America. Australia-based Afterpay operates in several countries, including the U.S., and allows merchants to give shoppers a digital layaway option through installment payments. Shoppers only pay a fee if they do not pay off […].

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Strategy US America Cards 293

Chris Skinner

FEBRUARY 29, 2020

The main blog headlines are … “I was the first knowledge worker whose job was threatened by a machine” Really interesting interview with Garry Kasparov in Wired magazine about the potential of artificial intelligence (AI) in the future. Garry Kasparov is perhaps the greatest chess player in history. For almost … The post The Finanser’s Week: 24th February 2020 – 1st March 2020 appeared first on Chris Skinner's blog.

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Maine 342

Payments Dive

MARCH 4, 2020

Pyramid Computer specializes in innovation and is looking to the future to stay on the cutting edge of technological advancements.

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Innovation Technology 248

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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.

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PYMNTS

MARCH 4, 2020

The enterprise resource planning ( ERP ) system has been a staple of corporate finance operations for years, acting as a central repository of data and a hub to initiate a range of processes, from accounting to procurement. But the ERP of today doesn’t look like it used to. Enterprise cloud migrations have opened up the ability for smaller businesses to adopt ERP technology once reserved for the largest corporates.

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Data Taxes Analytics Management 260

Bank Innovation

MARCH 6, 2020

Welcome to the latest episode of our Weekly Wrap series, for the week ending Friday, March 6, 2020. In this episode, editors discuss the following news developments: How embedded finance can expand into new areas; How banks are taking inspiration from startups in developing customer experience; and How nonbank lenders are tailoring their offerings for […].

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Innovation Customer Experience Video Management 273

Chris Skinner

MARCH 1, 2020

Things we’re reading today include … Nationwide leads race for £1.9bn Sainsbury’s Bank deal Lloyds Bank faces fresh police inquiry over fraud claims Bank of England passed ‘misuse’ firm for due diligence three times ‘Swindled with bitcoin’: Australian victims count cost of online finance scam The rise and dramatic fall … The post Things worth reading: 2nd March 2020 appeared first on Chris Skinner's blog.

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Bitcoin Fraud Online 294

Payments Dive

MARCH 4, 2020

Pyramid Computer specializes in innovation and is looking to the future to stay on the cutting edge of technological advancements.

Innovation 221

Innovation Technology 221

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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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