Chris Skinner
NOVEMBER 13, 2018
There’s nothing like a true story to bring a point home, so here’s my latest one. I’m starting a new venture. It’s a philanthropic thing, thing to do with banking, but because we are seeking sponsorship, we need to open a bank account. I choose to open an account with … The post Account opening? Oh, 1-2-3. Easy as A-B-C. Not! appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 15, 2018
Sir Richard Branson, the British billionaire entrepreneur, philanthropist and visionary, never outgrew his passion to change the world.
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Bank Innovation
NOVEMBER 12, 2018
INV Fintech, Bank Innovation’s sister accelerator, has announced its sixth accelerator class, which begins this week with six unique startups seeking to revolutionize financial services. The six startups were selected for participation after a rigorous review process by INV Fintech and its partners, which include Fiserv, TIAA, BB&T, Standard Bank of Africa, and Texas Capital Bank. […].
PYMNTS
NOVEMBER 15, 2018
The Internal Revenue Service (IRS) is paying $1.7 million to a Virginia company to handle “large cash payments for processing cannabis federal taxes.”. According to Quartz , the U.S. government collected approximately $4.7 billion in taxes last year on nearly $13 billion in revenue from legal cannabis companies. Most of these companies were forced to pay their federal taxes in cash because about 70 percent of all legal cannabis businesses are unbanked.
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Chris Skinner
NOVEMBER 14, 2018
Twenty years ago, I worked on a strategy for the future of banking. My conclusion was that banks would merge with telecommunications firms and become hybrid institutions. Twenty years later, it hasn’t happened. But will it? It was interesting because way back then I worked for NCR which was owned … The post Banks and Telcos? Two become 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.
Bank Innovation
NOVEMBER 16, 2018
We’ve all been there. It’s midday, you’re in between meetings, you’re craving a bag of candy or a shot of one of those super-charged, "coffee-based" energy drinks to push through the afternoon, but you’re caught in traffic in your rideshare and short on time. Or perhaps not. But when you need that quick fix on […].
PYMNTS
NOVEMBER 14, 2018
Corporate finance executives seem to be readying for real-time payments, preparing to adopt faster payment capabilities and bracing for changes to their cash flow management strategies as a result. A new report from Deutsche Bank said this industry path is guiding banks and corporates to a new destination: real-time treasury. Driven by a range of factors (including changes to intraday reporting requirements, open banking initiatives, longer clearing windows for real-time gross settlement (RTGS)
Chris Skinner
NOVEMBER 15, 2018
It’s a big week of FinTech in Asia with Money 2020 China and the Singapore FinTech Festival (SFF) all taking place in the same week. One of the headlines emerging from SFF was an interview with Brad Garlinghouse, CEO of Ripple. The headline is from a Bloomberg interview and reads: … The post Will Ripple replace SWIFT? appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 13, 2018
While the emergence of fintechs has challenged established financial service institutions, the collaboration taking place has blurred the some of the distinctions between the two.
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Bank Innovation
NOVEMBER 16, 2018
It’s opportunity time for fintech startups. On March 12, 2019, Bank Innovation will host its ninth DEMOvation Challenge, in which fintech startups demo before a crowd of conference attendees in the hopes of earning their vote and walking away with fabulous prizes. The competiton is part of the wider Bank Innovation Ignite conference, which returns […].
PYMNTS
NOVEMBER 15, 2018
Opus, the provider of global compliance and risk management solutions, announced Thursday (Nov. 15) the results of the third annual Ponemon Institute’s “Data Risk in the Third-Party Ecosystem” study, which found that 59 percent of companies surveyed said they have experienced a data breach caused by their vendors or third parties. In a press release announcing the results of the survey of more than 1,000 CISOs and other security and risk professionals across the U.S. and U.K., Opus said th
Chris Skinner
NOVEMBER 11, 2018
At the conference I attended the other day, one speaker highlighted some InsurTech I’d not seen before but thought pretty cool. It’s a prototype service from Direct Line called Fleetlights. Fleetlights is an army of drones that light up the night skies and are designed to help people in difficult … The post Direct Line: innovating InsurTech appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 16, 2018
African banking customers are among the most enthusiastic adopters of mobile and digital channels. They prefer digital channels for transactions, servicing and sales.
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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.
Bank Innovation
NOVEMBER 15, 2018
Alexa is listening. Capital One was famously the first major bank to integrate with Alexa, Amazon's virtual assistant that lives in Echo smart speakers as well as a growing array of other devices. Voice banking -- operating your bank account by voice -- is a hot topic in the industry today, but many questions remain. One problem is […].
PYMNTS
NOVEMBER 15, 2018
Western Union and FLEETCOR are nearing an agreement to sell WU’s business payments operations to the fleet payments firm, according to reports in PE Hub on Wednesday (Nov. 15). Citing three unnamed sources, reports said Citi is advising on the deal, which could fetch $600 million for the B2B payments operations. Though unconfirmed, the deal would not come entirely as a surprise.
Chris Skinner
NOVEMBER 13, 2018
I often find myself in weird or frustrating situations that I don’t know how to break. For example, dealing with clients who require a Government Tax Residency Letter and multiple hurdles to be cleared before they can make payment; or dealing with American clients who want to pay me by cheque; or, worst of … The post Legacy vendors are more of an issue than legacy systems appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 14, 2018
Despite contactless and biometric payments being on the rise, a recent survey of Spanish adults commissioned by Transaction Network Services has highlighted the strong demand for ATMs for immediate access to cash. Download your copy of this infographic to learn more.
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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.
Bank Innovation
NOVEMBER 13, 2018
Venture-backed fintech funding saw a dip in value and deals globally in the third quarter, compared with the record high 2Q quarter, according to a CBInsights report, with a total of $5.64 billion raised across 375 deals. The report shows that the U.S. saw the biggest drop in five quarters, down 17% to only 130 […].
PYMNTS
NOVEMBER 12, 2018
As the U.K. continues its move to adopt the ISO 20022 payments messaging standard, the Bank of England is reportedly planning to create a panel aimed at streamlining the adoption of the standard for more efficient payments in the country. In a press release issued last week, the Bank of England said that it, along with Pay.UK, is inviting interested parties to join its Standard Advisory Panel to help guide adoption of the payments messaging standard across the New Payments Architecture (NPA).
Chris Skinner
NOVEMBER 11, 2018
The main blog headlines are … Teach children the things that machines cannot learn I often talk about teaching children to learn what machines cannot learn. Our system of education was created in the Industrial Revolution, and is based upon kids being stuffed with facts, stats and dates. They learn … The post The Finanser’s Week: 5th November – 11th November appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 16, 2018
In the Middle East, the POS is fast-evolving from a mere transaction acceptance device to an integral component of the customer's omni-channel journey.
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Bank Innovation
NOVEMBER 16, 2018
It’s opportunity time for fintech startups. On March 12, 2019, Bank Innovation will host its ninth DEMOvation Challenge, in which fintech startups demo before a crowd of conference attendees in the hopes of earning their vote and walking away with fabulous prizes. The competiton is part of the wider Bank Innovation Ignite conference, which returns […].
PYMNTS
NOVEMBER 13, 2018
A group of payment players announced Tuesday (Nov. 13) that they created a new organization, dubbed U.S. Faster Payments Council (FPC), aimed at working toward a ubiquitous payment system that enables Americans to safely and securely pay anyone, anywhere and at any time with near-immediate funds availability. In a press release, the group said the mission, structure and focus of the U.S.
Chris Skinner
NOVEMBER 13, 2018
Things we’re reading today include … IMF says governments could set up their own cryptocurrencies Australian court rejects regulator’s record fine against Westpac Top law firm linked to subject of UK’s first unexplained wealth order The scandal of Goldman’s secret agent Goldman Sachs bankers ‘cheated’ Malaysia over 1MDB: PM Mahathir … The post Things worth reading: 14th November 2018 appeared first on Chris Skinner's blog.
Bobsguide
NOVEMBER 13, 2018
In today’s challenging financial market businesses need to utilize every available resource and technology to reduce risk when processing payments and credit applications. One area in particular that is often talked about, but still either under or incorrectly utilized, is data science.
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