Chris Skinner

MAY 13, 2020

I spent some time recently chatting with Joanne Dewar, Chief Executive Officer, Global Processing Services (GPS). I spotted GPS a while ago, and blogged about how they worked with Monzo, Starling, Revolut and more last October. Anywho, Joanne wrote a brilliant piece on the Nasdaq website the other day, which … The post The Impact of the COVID-19 Pandemic on Financial Inclusion appeared first on Chris Skinner's blog.

Fintech 544

Fintech 544

Accenture

MAY 15, 2020

Central banks’ key functions have remained largely unaltered since the first such institution was established in Sweden in the mid-17th century. These include setting monetary and financial policy, acting as lenders of last resort, ensuring the stability of the financial system and supervising the financial industry. The pace of digitally driven change throughout the financial….

Policies 460

Policies System Industry 460

Payments Dive

MAY 12, 2020

The COVID-19 pandemic has created a shaky climate for startups in the fintech space, as investors look for more clarity in the near-term economic outlook.

Fintech 356

Fintech 356

PYMNTS

MAY 12, 2020

For all the human and business impacts caused by the global coronavirus pandemic, the crisis has also been instructive, particularly in illustrating the shortcomings in systems that worked just fine — until they didn’t. The massive and simultaneous global shift to digital has put a spotlight on traditional supply chains, antiquated paper-based processes and an aging payments infrastructure.

Innovation 271

Innovation System ATM Taxes 271

Advertisement

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

Groups

Chris Skinner

MAY 11, 2020

The chasm between start-ups and incumbents is massively exposed by coronavirus. I realised this early on, when I saw that FinTech firms who were born on the internet were far more ready for working from home than traditional banks who depend on branches, buildings, office and physicality. In fact, this … The post Dealing with a crisis: FinTech versus Bank appeared first on Chris Skinner's blog.

Fintech 537

Fintech Digital Banking 537

Payments Dive

MAY 15, 2020

Retailers are using e-commerce and mobile to make up for lost sales at the physical store during the wave of store closings due to the COVID-19 pandemic.

Retail 307

Retail Mobile 307

PYMNTS

MAY 15, 2020

The fact that grocery stores are comprehensively winning the race to keep the American consumer fed shouldn’t be too surprising, considering grocery stores are by and large still open for business, and restaurants have been forced by statute in most places to close their doors. In the world of retail sales, it’s hard to find a bigger advantage than being open in the face of everyone else’s closure.

Survey 265

Survey Retail Online Report 265

Chris Skinner

MAY 15, 2020

I just found three interesting management reports. One is a survey from Salt Edge on the lack of success of the use APIs and Open Banking, two years after the introduction of PSD2; the second is from the GSMA on the state of mobile financial services; and the third is … The post Free research: Open Banking, Mobile Money and Digital Currency appeared first on Chris Skinner's blog.

Mobile 481

Mobile Survey Management Report 481

Bobsguide

MAY 15, 2020

With banks and financial services closing physical branches and large parts of the population unable to leave their homes, organisations are hoping to utilise digitalised identities – but the fact there are no industry standards or protocols is causing concerns. “We’ve always.

Industry 203

Industry 203

Advertiser: ZoomInfo

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

Analysis

Abrigo

MAY 15, 2020

Key Takeaways Like other federal relief programs, the PPP has become subject to fraud. The first federal charges of PPP loan fraud have been made – and they're unlikely to be the last. While the SBA has said lenders will be held harmless, some banks fear they will still be culpable if borrowers fail to comply with PPP criteria. Banks can take additional steps to bolster customer due diligence.

Lending 195

Lending Rhode Island Fraud Los Angeles 195

PYMNTS

MAY 13, 2020

Consumers are thinking about their commerce experience through an entirely different and largely safety-focused lens in a way they never have before. It’s a story told in the data — the PYMNTS COVID-19 Brief Series quantifies the myriad ways health and safety have become prime factors in consumers’ lifestyle choices. And it’s a story told in the subtle but noticeable shifts happening in all of our own lives anecdotally.

Cards 251

Cards Branding Innovation Data 251

Chris Skinner

MAY 15, 2020

Things we’re reading today include … Coronavirus: Lloyd’s of London says claims to be biggest since 9/11 How will Britain dig itself out of a £300bn coronavirus hole? How to fight an economic crisis in a monetary union Goldman Sachs to buy boutique wealth management custodian Folio Washington fires its … The post Things worth reading: 15th May 2020 appeared first on Chris Skinner's blog.

Washington 417

Washington How To Management 417

Bobsguide

MAY 12, 2020

Areas of the market in which open banking protocols are implemented without standards could risk seeing new bank monopolies emerge, according to Paul Freemantle, chief technology officer at open source tech provider WSO2 during a panel today at the Open Banking World Congress. “Maybe.

Technology 189

Technology Marketing 189

Advertisement

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

Abrigo

MAY 13, 2020

Key Takeaways While lenders are still awaiting further guidance on PPP loan forgiveness, the SBA has stated that lenders will have to submit an SBA Form 1502 to report on PPP loans and collect processing fees. While an SBA Form 1502 exists for 7(a) loans, the SBA will make a specific Form 1502 for PPP loans, according to the final rule. Lenders must submit 1502 reports through Colson Services Corp.

How To 195

How To Report Lending United States 195

PYMNTS

MAY 13, 2020

Visa said Wednesday (May 13) that 28 new partners — spanning a range of gateway acquirers and technology partners — are joining Visa Token Service as credential on file token requestors. The 28 additions add significantly to the 150 token requestor partners that had been included in Visa Token Service through the years since the service launched in 2014.

Security 250

Security Cards Payments Data 250

Chris Skinner

MAY 14, 2020

Things we’re reading today include … Coronavirus crisis causing ‘very sharp move into recession’, Bank of England governor warns Open Banking Europe publishes draft signature standards for bank APIs UK property market could fall 13%, housing experts predict ABN Amro slumps to loss as impairment charges pile up Banking: the … The post Things worth reading: 14th May 2020 appeared first on Chris Skinner's blog.

Marketing 417

Marketing 417

South State Correspondent

MAY 11, 2020

In past articles, we discussed a proposed Coronavirus stress test under CCAR ( HERE ) and provided our COVID-19 probabilities of default and loss given defaults for a model bank portfolio ( HERE ). In this article, we update our CRE modeling and take a deeper dive into loan-level analysis in order to help banks triage and manage both individual credits and their portfolio-level reserves.

Analysis 186

Analysis Management 186

Advertisement

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.

Operations

Abrigo

MAY 13, 2020

Key Takeaways PPP required lenders to embrace digitalization at scale and vendors delivered The earliest PPP solutions were built upon existing solutions for SBA 7(a) A focus on the entire life cycle of the PPP loan is important in lender-vendor collaboration. The lightning-fast adoption of digitalization by financial institutions scrambling to get Paycheck Protection Program (PPP) loans into the hands of small business customers could represent a watershed for those that embrace their newfound

Lending 195

Lending Report Technology System 195

PYMNTS

MAY 12, 2020

The rise of the machines seems a bit closer at hand now that we are battling the pandemic. Not the humanoids that are the stuff of science fiction that ostensibly, one day, will do our bidding (and, depending on who you read, perhaps conspire against us). Picture, instead, fleets of utilitarian machines, squat, careful and not at all threatening, rolling through retailers’ aisles, hospital wings and other avenues of everyday human life.

Retail 247

Retail Branding Software Technology 247

Chris Skinner

MAY 10, 2020

The other day, I blogged about the failure of government in this crisis. Today, I’m blogging about the failure of banks. I am aware that in some countries – the Netherlands seems to be one – there has been great continuance of bank service. Unfortunately, the UK is proving to … The post The failure of banks (#coronavirus) appeared first on Chris Skinner's blog.

387

387

Bobsguide

MAY 14, 2020

Effective since 2018, the implementation of Open Banking standards in the UK has established a model across the globe – particularly for ambitious Latin American countries looking to digitise their financial system. Last week, Brazil released its new open banking rules aimed at enabling.

System 179

System 179

Advertisement

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.

Analysis

Abrigo

MAY 11, 2020

Key Takeaways The FFIEC issued a joint statement highlighting best practices for safe and sound use of cloud computing services. There are three main cloud service models, each with different levels of shared responsibilities between provider and client. There are several steps financial institutions can take to mitigate the risk. Cloud computing is an efficient and cost-effective way of housing data and is becoming a mainstay for data services and infrastructure across the globe.

Data 195

Data Training Risk Management Software 195

PYMNTS

MAY 14, 2020

The COVID-19 pandemic has triggered an uptick in digital fraud and identity theft, with 18,235 pandemic-related fraud reports received by the Federal Trade Commission (FTC) since the beginning of the year. The trouble is that the restrictions put into place to help slow the pandemic’s spread has forced brick-and-mortar businesses to close, and therefore driving up the demand for digital onboarding solutions.

Fraud 247

Fraud Meeting Innovation New York 247

Chris Skinner

MAY 9, 2020

The main blog headlines are … Where was the digital backup to our physical structure? The coronavirus crisis has hit everyone sudden and hard. We originally thought it was a Chinese crisis and now it’s a global one. It’s shut down economies worldwide and the banking system has been asked … The post The Finanser’s Week: 4th May 2020 – 10th May 2020 appeared first on Chris Skinner's blog.

Maine 374

Maine System Regulation 374

Payments Source

MAY 14, 2020

Tokenization and buy buttons began, in part, as ways to appease the security concerns of online shoppers who were wary of moving away from plastic. They’re now becoming a way to keep a health and economic crisis from turning into a security problem as in-store checkout quickly gives way to apps and websites.

Security 174

Security Online Fraud Data 174

Advertiser: ZoomInfo

In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.

Capital