Chris Skinner

SEPTEMBER 12, 2018

I recently did an interview with my American friend Jim Marous over on The Financial Brand. It’s a good interview so I thought I would post my answers here. Feel free to comment! Your newest book, Digital Human, is obviously an outgrowth from your two previous books, ValueWeb and Digital … The post Financial Institutions Aren’t Prepared for the Digital Revolution appeared first on Chris Skinner's blog.

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Payments Dive

SEPTEMBER 13, 2018

Suresh Ramamurthi, chairman and CTO of CBW Bank, opened the annual Bank Customer Experience conference with a keynote speech detailing his financial institution's unique journey.

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Digital Banking Conference Customer Experience Fintech 322

Bank Innovation

SEPTEMBER 13, 2018

Mastercard announced a new B2B payments platform for merchants yesterday, built using Microsoft Azure, the software company's cloud computing service. The service, called Mastercard Track, aims to streamline and automate the process of merchants sourcing and obtaining goods through vendors, paying for said goods, and reconciling payment with accounts receivable, also known as procure-to-pay.

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PYMNTS

SEPTEMBER 12, 2018

In tech, innovation is everything. In innovation, intellectual property is, well, almost everything — it can be the hardware, the software, the processes that come from creative endeavor. And patents? Well, consider them a form of competitive advantage. News came recently, when it comes to patents tied to the blockchain landscape, that Thomson Reuters found China, and Alibaba , to have had an outsized showing.

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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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Chris Skinner

SEPTEMBER 12, 2018

One other thing struck me as the discussions fired away in Shanghai at Lang Di … is China going to haemorrhage and bring down the world’s financial systems … or is that just what the Western media would like us to think? The reason I raise it is that I … The post China’s blood on the carpet in P2P lending appeared first on Chris Skinner's blog.

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Bank Innovation

SEPTEMBER 10, 2018

Digital check solution SnapCheck, a graduate of INV Fintech, this site’s sister accelerator, was named Best Payments API (application programming interface) by API:World, the largest global API conference. SnapCheck will receive the award during a special ceremony at the San Jose Convention Center tonight, Sept. 10. SnapCheck allows companies to transition from checks to realtime secure digital […].

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PYMNTS

SEPTEMBER 11, 2018

Travel companies know that payments innovation is mission-critical when it comes to acquiring and retaining consumers all over the world. It’s a clear fact in the data — 81 percent of travel firms indicated that payments innovation is on the menu for the next three years, according to the PYMNTS/ Amadeus IT Group Travel Payments Study. Bart Tompkins, managing director of Amadeus Payments Business Unit , told Karen Webster in a recent interview that it’s also apparent in his conversations with ai

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Chris Skinner

SEPTEMBER 10, 2018

I enjoyed the LendIt conference in Shanghai, and wrote a few notes. In particular, I enjoyed hearing the story of XWBank as told by Jiang Hai, the Vice Chairman. His presentation was in Chinese but, from the simultaneous translation and slides, I picked up some interesting stats. To begin with, … The post Loans processing for just three cents per application (thank you coders!

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Payments Dive

SEPTEMBER 14, 2018

Host Will Hernandez discusses the the future of the cashless society with Ankit Kumar from Gemalto. What are some of the positives and negatives of a future that is a cashless society?

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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

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Bank Innovation

SEPTEMBER 11, 2018

Bank of New Zealand will be launching new biometrics solutions within the next six months, Bank Innovation has learned. In April, New Zealand became one of 37 countries where biometric checks will be available. “One of the challenges we have in New Zealand is our KYC legislation specifically requires us to biometrically match an applicant with […].

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PYMNTS

SEPTEMBER 11, 2018

RiskIQ, the security firm, told outlets on Tuesday (Sept. 11) that the data breach at British Airways was due to credit card skimming installed by malware hackers. According to reports , Yonathan Klijnsma, a threat researcher at RiskIQ, told the outlet that the same group of hackers that breached Ticketmaster may be behind the attack at British Airways, in which more than 380,000 credit cards were compromised.

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Chris Skinner

SEPTEMBER 13, 2018

It’s September 14. It’s exactly ten years since Lehman Brothers collapsed. It’s ten years since the touchpaper was lit that sparked the Global Financial Crisis (GFC). It’s exactly ten years since I landed in Vienna for Sibos 2008 on Sunday, September 14 2008, to find voicemail after voicemail asking for commentary … The post Today marks ten years since Lehmans collapsed and the GFC started appeared first on Chris Skinner's blog.

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Case Study Study 271

Payments Dive

SEPTEMBER 12, 2018

India Post Payments Bank is leveraging Financial Software and Systems (FSS) to bring a wide range of affordable, quality banking and payment services to financially underserved customer segments – especially rural households, small and medium enterprises and women.

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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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Bank Innovation

SEPTEMBER 14, 2018

Banks and fintech ranked artificial intelligence and machine learning as their top innovation priority, according to a Bank Innovation survey. Bank Innovation asked people in the banking and fintech community to list what’s top on their innovation wish list. Of the 294 people that took the survey, 32% listed ML and AI as their institution’s […].

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PYMNTS

SEPTEMBER 14, 2018

This year’s “Great Crypto Crash” appears to be deepening and has hit a major milestone set by the dot-com bubble, Bloomberg reported. Digital currencies have tumbled from a January high by 80 percent, according to the MVIS CryptoCompare Digital Assets 10 Index. That level tops the “peak-to-trough decline” in the Nasdaq Composite Index following the dot-com bubble.

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Chris Skinner

SEPTEMBER 13, 2018

Things we’re reading today include … RBS boss accused of withholding information from MPs We are due a recession in 2020 – and we will lack the tools to fight it | Nouriel Roubini No 10 dismisses Gordon Brown’s warning of UK ‘sleepwalking into financial crisis’ Gordon Brown says world could … The post Things worth reading: 14th September 2018 appeared first on Chris Skinner's blog.

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Insights on Business

SEPTEMBER 13, 2018

If Charles Darwin were still alive, I wonder what he would think about the evolution of banks? Once again, banks are being forced to evolve or die. And financial institutions that fail or refuse to become cognitive and digital will get left behind. It’s survival of the fittest at its finest. Right now, survival is hiding behind a mask of profits. Are the record profits for the financial services industry because of a better economy, or because financial institutions have become better?

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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

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Bank Innovation

SEPTEMBER 13, 2018

Only months after launching a digital prepaid card for its corporate customers, Bank of America Merrill Lynch continues to expand its digital offerings for its corporate clients. As of today, corporate cardholders in the U.S. can now use BofA Merrill Lynch mobile wallet on Apple Pay, Google Pay, and Samsung Pay. In a statement emailed […].

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PYMNTS

SEPTEMBER 14, 2018

Amazon’s B2B business is growing up fast, as trade conflicts build and inject risks and threats into the larger industry landscape. Meanwhile, B2B eCommerce stands on the cusp of other changes that go beyond Amazon’s increasing prowess — changes that promise to bring the supply chain and corporate procurement, long known as a paper-based beast, further into the digital economy.

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Chris Skinner

SEPTEMBER 9, 2018

I was at LendIt China last week, or Lang Di as it should rightly be called. As readers know, I always get a buzz from visiting China, and this trip was no exception. It made me reflect in fact upon my last twenty plus years of coming here and seeing the … The post How will our children lead the world? appeared first on Chris Skinner's blog.

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Bobsguide

SEPTEMBER 11, 2018

Artificial Intelligence is advancing at an exponential rate across the globe. In the UK, a Government Industrial Strategy is now in place to ensure its success and China’s government has recently revealed a plan committing the country to becoming the world’s dominant player in.

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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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Bank Innovation

SEPTEMBER 12, 2018

Payments giant PayPal unveiled a new feature that gives merchants realtime access to funds from completed sales. The feature, revealed today, is aptly called Funds Now. Like Uber’s Instant Pay, PayPal’s Funds Now feature gives select businesses across the U.S., U.K., and Australia instant access to their completed sales within seconds by eliminating holds, delays, and […].

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PYMNTS

SEPTEMBER 14, 2018

To challenge the Office of the Comptroller of the Currency (OCC)’s decision to allow online payment companies and lenders to have national bank charters, the top banking regulator in New York is suing the federal government. In a complaint filed with a federal court, New York Department of Financial Services (DFS) Superintendent Maria Vullo said, “The OCC’s reckless folly should be stopped,” Reuters reported.

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Chris Skinner

SEPTEMBER 10, 2018

Things we’re reading today include … New York regulator approves Winklevoss, Paxos dollar-linked tokens Clydesdale tipped to start buying spree after investors back £1.7bn Virgin Money takeover ING CFO Timmermans to step down after $900 million money laundering fine The post-crash principle for banks: be moral or bust | Zoe … The post Things worth reading: 11th September 2018 appeared first on Chris Skinner's blog.

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Payments Source

SEPTEMBER 12, 2018

It all comes down to convenience. New payment apps, like Venmo, and widely adopted mobile wallets, such as Apple Pay and Alipay, have made the consumer payment experience incredibly convenient, writes Ralph Dangelmaier, CEO of BlueSnap.

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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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