Chris Skinner
AUGUST 21, 2019
The term The Internet of Things (IoT) was first used twenty years ago. Twenty years later, IoT is emerging rapidly. We have our cars and homes networked but, more than this, we have gadgets like Google Home, Siri and Alexa. Amazon has taken this even further with services like Key … The post The key to IoT is identity appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 23, 2019
Recently launched public transit trials in New York, Miami and elsewhere are showing huge potential for digital wallets and contactless cards in driving widespread adoption for mobile payments.
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Bank Innovation
AUGUST 23, 2019
Confirming a customer’s identity is an ongoing pain point for banks and financial institutions around the world. It’s an even bigger challenge for countries that have high underbanked populations like Sierra Leone. According a recent estimate from the Sierra Leone government, just 20% of its citizens have a bank account, which perpetuates a chicken-and-egg problem […].
South State Correspondent
AUGUST 21, 2019
CRITICAL THINKING In Part I, we highlighted how having too much information about a decision often increases the confidence about the decision but usually doesn’t change the accuracy of the decision. In addition, gathering information takes time and effort, so the result is a more expensive and time-consuming decision that gives you a false sense of comfort.
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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
AUGUST 18, 2019
I just picked up a Financial Times article talking about how Artificial Intelligence (AI) will change the way you deal with money. It’s actually more about the Chinese internet giant Ping An, and how they’re changing finance using AI. If you are a customer of Chinese financial services group Ping An, … The post AI is not a technology change but a cultural one 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.
Abrigo
AUGUST 21, 2019
Shopping for a bank secrecy act/anti-money laundering (BSA/AML) monitoring software can feel overwhelming. There are so many options, features, and benefits to each system that it can be tough to figure out where to start. We’ve spent the last 20 years working with industry experts regarding regulatory compliance and our customer base regarding program efficiencies to build BAM+ into the ultimate BSA/AML regulatory and compliance solution.
Bank Innovation
AUGUST 20, 2019
Cuentas, a Miami-based prepaid debit card company targeting Spanish-speaking populations, wants to turn convenience stores into financial hubs through Cuentas-branded debit cards and accounts. The cards, which will launch in early September, will be linked to an online bank account from Saturn Bank. Customers can the reload the cards at any SDI Next convenience store […].
Chris Skinner
AUGUST 20, 2019
I saw a write-up in The Financial Times the other day on how Silicon Valley is eating the banker’s lunch. The article was written by Tom Braithwaite. Tom Braithwaite is the companies editor, managing the FT’s business coverage. Based in London, he was previously a Lex columnist in San Francisco. … The post Silicon Valley is eating the crumbs the banks’ left after lunch appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 20, 2019
With Facebook's announcement of its cryptocurrency Libra, cryptocurrency has gotten a lot more attention recently, and not all of it is positive, especially from U.S. lawmakers. Many are seeing cryptocurrencies like Libra as a national security issue.
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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
PYMNTS
AUGUST 22, 2019
In Latin America, news comes this week that Santander Group is boosting its use of Ripple’s technology to aid payments across what CoinDesk reported is a “payment corridor” in Latin America. As reported , the corridor would enable customers in Latin America to send money to the United States instantly, without fees, through the app One Pay FX. That app, the site noted, uses xCurrent software.
Bank Innovation
AUGUST 22, 2019
The growth of Amazon Go cashierless stores is causing a ripple effect among retailers. It’s what’s been inspiring big-box retailers — among them, Walmart, Sam’s Club, Giant Eagle and others — to develop cashierless payment systems of their own. As a result, technology companies are rushing to meet demand among retailers that want to implement […].
Chris Skinner
AUGUST 22, 2019
I enjoy being around bankers who have been immersed in the industry nearly all of their lives and hearing their war stories. I heard two stories recently from a retiring banker, and thought it worth sharing to show just how far we’ve come. This friend started life in international banking … The post Are humans really needed for banking? appeared first on Chris Skinner's blog.
Payments Source
AUGUST 23, 2019
Amid success stories like Apple Pay, Google Pay and the Starbucks app, there are many wallet apps that failed to gain traction — or squandered it when they did. But there is a lot to learn from their experiences.
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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.
PYMNTS
AUGUST 18, 2019
Mastercard , already an ally of Facebook’s Libra , announced it’s in the midst of planning its own cryptocurrency team, the New York Post reported on Saturday (Aug. 17). The move is in line with Mastercard’s goal of being known as a technology company “more than a card company,” Ted Rossman, an analyst with CreditCards.com, told the NYP. It’s “a smart move,” another card expert told the paper.
Bank Innovation
AUGUST 19, 2019
Better.com, a New York-based mortgage lending startup, raised $160 million in a Series C funding round on Monday to develop new products, hire new employees and launch new partnerships. Activant Capital, Ping An Global Voyager Fund, Ally Financial, Citigroup, AGNC, Healthcare of Ontario Pension Plan and American Express Ventures joined existing shareholders Goldman Sachs, Pine Brook and […].
Chris Skinner
AUGUST 19, 2019
As I walk around The City, I’m often finding new buildings, new developments and major erections rising around the Square Mile. On that latter note, I don’t mean Boris Johnston, but major new office blocks. Obviously, with Brexit, a lot of people would think that this would not be the … The post The future of The City of London appeared first on Chris Skinner's blog.
Payments Source
AUGUST 22, 2019
There is always the chance that privileged employees will either become bad actors who use their access to confidential data for their own gain, or that they will succumb to a hacking attempt and thereby open the door to an external bad actor, says Unisys' Maria Allen.
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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
PYMNTS
AUGUST 20, 2019
The Apple Card, a credit card created in partnership by the technology company, was officially released in the U.S. on Tuesday (Aug. 20), the company said in a release. The company said the credit card is meant to help customers have a “healthier financial life,” and that interested customers can sign up for the card through the Wallet app on an iPhone. .
Bank Innovation
AUGUST 23, 2019
While student loans are a necessity for many American students, international students face the additional hurdle of a lack of credit access. Washington, D.C.-based MPOWER is trying to solve this problem by offering international students loans based on future earnings potential. MPOWER, which was founded in 2014, makes credit decisions based on the reputation of […].
Chris Skinner
AUGUST 17, 2019
The main blog headlines are … Chris Skinner’s TEDx Talk I am honoured and privileged to list on my profile that I have been an advisor to the White House, World Bank, World Economic Forum and United Nations. Now I can add TEDx Speaker. I was invited to TEDx Athens … The post The Finanser’s Week: 12th August – 18th August 2019 appeared first on Chris Skinner's blog.
Payments Source
AUGUST 21, 2019
Banks, for the most part, have not advanced their core digital technologies as quickly as payments networks and disruptors ahead of the original PSD2 deadline. And the European Banking Authority has also cited the payments networks for not advancing the 3D Secure 2.0 online authentication model far enough to comply with PSD2 provisions.
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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.
PYMNTS
AUGUST 21, 2019
Legacy banks have their work cut out for them if they want to survive another century as key players in the digital banking world. European challenger banks like Monzo and N26 are expanding to new markets and an increasing number of other financial players are launching suites of products and services designed to entice customers away from their traditional financial institutions (FIs).
Jack Henry
AUGUST 21, 2019
As someone who reads this blog and follows the industry, you’ve likely heard a lot of talk about open banking recently. Headlines with references to “Open APIs” and “Shared Data” continue to appear in inboxes and popular topics with industry reports. We know that in today’s market, consumers don’t compare financial institutions (FIs) so much as they compare experiences.
Chris Skinner
AUGUST 19, 2019
Things we’re reading today include … ECB Says the Next European Bank Hack Is Just a Matter of Time Bank of America Applies for Multi-Tiered Crypto Wallet Patent Is mobile banking app Monzo too good to be true? Banking bodies look at shorter trading day to draw women Saxo chief … The post Things worth reading: 20th August 2019 appeared first on Chris Skinner's blog.
Banking Exchange
AUGUST 21, 2019
Community banks are facing tremendous competitive pressures from regional, national, and global banks Technology Feature3 Fintech Feature Financial Trends Community Banking Customers Core Systems Branch Technology/ATMs Outsourcing/Cloud Tech Management Mobile Online Cards Checks/Remote Deposit Capture.
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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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