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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National FDIC Lending Regulation 75

Abrigo

MARCH 4, 2020

With more and more states approving the sale of cannabis, either marijuana or hemp, the risks involved with banking this industry has remained at the forefront of compliance officers' minds. Providing traditional banking services to any higher risk businesses carries risks that must be considered when deciding whether or not to bank-specific customers.

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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

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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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Big Data blockchain Data Technology 535

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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Bank Innovation

MARCH 4, 2020

Payitoff, a white-label platform that provides automated guidance on student loan repayment, won the 2020 Bank Innovation Ignite DEMOvation contest. With the win, Payitoff has been awarded an advertising package on Bank Innovation worth $10,000. “We liked that the company was addressing a real, identified pain point and building a solution to attack that head-on,” […].

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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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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

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Analysis

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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Digital Banking Mobile 540

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

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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Payments Report Security 344

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

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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.

Lending

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

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

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

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Operations

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

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

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

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Analysis

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

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

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

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