PYMNTS
JANUARY 31, 2020
Debit is a core payment method in the U.S. that has garnered particularly strong traction among consumers aged 31 to 38. A 2018 survey found that 40 percent of American financial institution (FI) customers in this age bracket reported debit cards as their go-to payment instruments, while 36 percent favored credit cards. Consumers aged 18 to 22, meanwhile, relied equally on the two methods. .
Bank Innovation
JANUARY 26, 2020
FICO is updating its credit scoring system to rely more on debt-to-income ratio, with consumers scoring below 600 to feel the brunt of the scrutiny. The credit bureau last week rolled out its FICO Score 10 Suite, which institutions will launch by the end of the year. The new scoring model is designed to improve underwriting […].
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Payments Source
JANUARY 27, 2020
New designs and easier authentication can boost adoption, says Fingerprints' Thomas Rex.
Bank Innovation
JANUARY 30, 2020
More and more retail and commercial customers are demanding a seamless banking experience. And it’s not just the centennials and millennials; Gen Xers and baby boomers also want immediate access to bank products and services. Financial institutions will need to leverage technology to meet these expectations if they want to retain existing customers and attract […].
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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.
Bank Innovation
JANUARY 30, 2020
While U.S. merchants and consumers believe in quick transactions at the point of sale, a Hanover Research survey commissioned by payments tech companies Ingenico and FreedomPay this month suggests consumers have lingering questions about the security of contactless payments. The study queried 350 merchants and 1,350 consumers in the U.S. on their perceptions regarding payment […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
JANUARY 28, 2020
The weather is likely to be unstable for banks in 2020, with a high probability of storms in places. Several continuing and new indicators suggest so—from banking consolidation, Open Banking and AI to eager big-tech entrants, revenue migration and purpose-driven banking. Drawing on input from our “weather” observation points—the many banks and industry tech providers….
Payments Dive
JANUARY 28, 2020
Lunar New Year has grown to become one of the most important market opportunities in the world of e-commerce. Everyone in the global payment ecosystem needs to consider this holiday shopping period as a metric for global e-commerce performance.
Bank Innovation
JANUARY 29, 2020
With nearly 200 startups, five major banks, 19 venture capital firms and representation from large tech companies like Google, Facebook, PayPal, Toronto is quickly becoming a center for fintech entrepreneurship. To meet the demands of this growing industry, the University of Toronto’s School of Continuing Studies is partnering with education services company Trilogy to launch […].
Chris Skinner
JANUARY 26, 2020
I’ve watched Davos from afar for years now and often wondered what it would be like to be there so, when I got an invite this year, I took it straight away. The United Nations Media Group asked if I could join them and talk about sustainable finance, which I … The post A Davos Day appeared first on Chris Skinner's blog.
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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
JANUARY 27, 2020
Retail keeps embracing numerous new technologies, and biometrics is not only one of them, but an area of recent growth and development, including via some of the biggest names in commerce. Take Amazon, which continues to expand its brick-and-mortar retail footprint, and the technology underlying those stores. The company is apparently making a bet that the future of retail, and retail payments, will involve consumers’ hands.
Payments Dive
JANUARY 31, 2020
Visa reported strong earnings during the fiscal first quarter, fueled by solid e-commerce and retail spending that offset weaker travel and restaurant spending.
Bank Innovation
JANUARY 30, 2020
Citibank will try to connect investors with neighborhoods in need through City Builder, a new digital tool launched last month. The searchable web platform allows investors to research and invest in “opportunity zones,” or areas in need of economic development, where investors get tax breaks for investing their capital gains. “It’s a market-driven approach to […].
Chris Skinner
JANUARY 28, 2020
I said you’re probably sick of Davos but one last update. On Friday a major announcement affecting all of banking and finance globally seeped out under the radar. I spotted it. Did you? Here it is … World Economic Forum Announces Global Consortium for Digital Currency Governance Today, the World … The post The Global Consortium for Digital Currency Governance appeared first on Chris Skinner's blog.
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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
JANUARY 30, 2020
Self-driving vehicle company Aurora has been approved by California regulators to allow passengers rides in its fleet of driverless vehicles, according to reports. The California Public Utilities Commission ( CPUC ) granted the company an official authorization, showcased on the official Aurora website. “This permit lets us give rides powered by the Aurora Driver and shows that we’re committed to being good partners to California and the Commission,” an Aurora spokesperson said.
Ron Shevelin
JANUARY 27, 2020
The “next generation” of banking customers isn’t based on age—it’s about need. Who will have new and different banking needs that the industry will have to design and redesign products and services for?
Bank Innovation
JANUARY 29, 2020
Mastercard Inc.’s new initiative to team up with more startups on credit cards is starting to pay off. The company has been starting card programs for fintechs including Brex Inc., Revolut Technologies Inc. and TransferWise Inc., and has unveiled programs designed to make it easier for startups to join Mastercard’s network. That helped boost customers’ […].
Chris Skinner
JANUARY 29, 2020
I recently posted a whine about HSBC charging 40 percent on overdrafts: Treating Customers Unfairly The fact I wrote this about HSBC gave the impression it was they who were the target. They are, but so are any banks who treat customers unfairly and the blog was meant to be … The post Free banking? No, it’s 39.9 percent banking! appeared first on Chris Skinner's blog.
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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
JANUARY 27, 2020
Kobe Bryant , who died Sunday (Jan. 26), was a well-known businessman and leaves behind a strong legacy of savvy investing and mentoring, according to a report by CNN Business. He was 41 at the time of his death. “For 20 seasons, Kobe showed us what is possible when remarkable talent blends with an absolute devotion to winning,” NBA Commissioner Adam Silver said in a statement Sunday. “… He was generous with the wisdom he acquired and saw it as his mission to share with future generations
BankBazaar
JANUARY 31, 2020
Missed out on the budget? Catch up on all the highlights and what they mean for you here. As India set its eyes on the Union Budget announcement by finance minister, Ms Niramala Sitharaman, one of the biggest expectations was that the budget will help revive the economy and pull it out of one of the worst economic slowdowns in decades. To this end, the government proposed a slew of changes and incentives among which was a major tax rejig.
Bank Innovation
JANUARY 27, 2020
CSI, a leading provider of fintech solutions, recently polled banking executives from around the country, representing 227 financial institutions from across the asset-size spectrum to uncover their top strategies for the coming year. The data from this survey was then collected and used to create an executive report to help bankers get a pulse on […].
Chris Skinner
JANUARY 27, 2020
You’ve probably heard all you need to hear about Davos by now, so I won’t bore you with it much further … except for this. Much of the dialogue for the past year has been about climate change or climate emergency or climate action or whatever you want to call … The post Fed up with talk of a climate emergency? appeared first on Chris Skinner's blog.
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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
JANUARY 27, 2020
Businesses have good reason to be concerned about data breaches. Fraudsters’ attempts to access systems and steal valuable information are becoming more innovative, and research suggests they are also increasingly successful. Cybercriminals’ accomplishments come at the expense of targeted businesses, with a recent study finding that individual data breaches cost firms around the globe an average of $3.92 million in 2019 — a 1.5 percent increase from 2018.
Payments Source
JANUARY 28, 2020
As an early adopter of e-commerce in the 1990s, 1-800-Flowers.com is pushing the envelope again with 3-D and augmented reality technologies to sell floral arrangements with new payment options, including Venmo.
Bank Innovation
JANUARY 31, 2020
This week, the Consumer Financial Protection Bureau filed suit against Citizens Bank, alleging violations of the Truth in Lending Act (TILA), including implementing Regulation Z and the Credit Card Accountability Responsibility and Disclosure Act. The CFPB alleges that the bank violated TILA for several years by failing to “properly manage and respond to credit card […].
Chris Skinner
JANUARY 27, 2020
Things we’re reading today include … N26 gaining deposits from US titans like Chase and Citibank UK banks approve highest number of mortgages since 2015 Author calls for Brexit coin ‘boycott’ over lack of Oxford comma £30bn pension fund: we’ll sack asset managers that ignore climate crisis New York surges … The post Things worth reading: 28th January 2020 appeared first on Chris Skinner's blog.
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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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