Chris Skinner
MAY 29, 2019
So my snarky little friend Ron Shevlin wrote a piece on Forbes claiming that Americans don’t want a digital bank. As the guy who wrote the book Digital Bank you might think I would take offence to such a statement, but no. I agree with his content, just not his … The post Customers don’t want digital banking appeared first on Chris Skinner's blog.
Payments Dive
MAY 28, 2019
Global Payments is buying TSYS in a merger valued at $21.5 billion, marking the latest in a series of international mergers and acquisitions of payments and POS technology companies.
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Bank Innovation
MAY 30, 2019
Japanese mobile payment app PayPay is embedding itself in rural areas to gain market share in a country where cash is still dominant. Indeed, cashless payments reportedly account for just 20% of transactions, compared to 50% in the U.S. Despite some well-heeled competitors, Japan is a largely untapped market for mobile payment providers. PayPay's chief […].
South State Correspondent
MAY 29, 2019
CREDIT MANAGEMENT No doubt, you hear all about how your competitors are winning deals because they are more aggressive when it comes to underwriting. While banks must always ask if they are taking the right risks and the right amount of risk, it is probably the competitors that you are not watching that is causing you the greatest risk. In this short article, we explore one often overlooked aspect of competitor surveillance and how this one technique can help protect your bank.
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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
MAY 27, 2019
I write a lot about FinTech payments, lending, roboadvice and such like. But there’s been a strong bubbling trend underneath all this that has not gone unnoticed. I’ve just not blogged about it enough. SMALL BUSINESS FINANCE People talk a lot about finance for SMEs – small to medium enterprises … The post FinTech’s biggest new market is small business financing … but is it worth it?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
MAY 29, 2019
SAFE Credit Union, through a partnership with NCR Digital Banking, is using geofencing technology as a trigger for push alerts to its customers. The credit union uses the tool to get feedback from customers as they leave the branch and to inform customers of potential rewards when they attend certain events or perform certain tasks. […].
Accenture
MAY 30, 2019
Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks. Credit card volume and receivables continue to grow amongst the top issuing banks for the first quarter of 2019; however, the growth rate of each has been slowing compared to prior years.
Chris Skinner
MAY 28, 2019
I feel sorry for Deutsche Bank. I’ve worked with the bank and they have some great people. It used to be that their investment banking services were one of the best in Europe, alongside UBS and Barclays Bank. That was before September 2008. Since then, it’s been like an old … The post The world’s most destructive bank? appeared first on Chris Skinner's blog.
Payments Dive
MAY 31, 2019
The long-awaited pilot program to test tap-and-go payments in public transit in New York City is being closely watched to see if U.S. consumers will finally embrace mobile wallet and contactless card use.
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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
Bank Innovation
MAY 31, 2019
Marcus by Goldman Sachs, Goldman's digital-only retail bank, is quickly becoming a full-service financial platform -- a threat to both challenger banks and traditional incumbent players. At an industry event in New York on Friday, the company's chief operating officer John Waldron reportedly said the company currently is building out its online retail bank Marcus to […].
PYMNTS
MAY 29, 2019
Businesses of a certain size — and in industries as varied as construction and restaurants — know the pain of wondering if they will have enough capital to fund operations, inventory, expansion and other mission-critical business activities. They know the uncertainty of going to traditional financial institutions (FIs), even those rooted in their communities, that might not want to take on the risks or economics of extending smaller lines of credit to small businesses (SMBs), with fortunes that
Chris Skinner
MAY 30, 2019
I’ve been struggling for a while now. My struggle is that I love flying around the world, seeing new places, meeting new people, finding new things … but I hate polluting the planet. This was brought to a head this week in a back-to-back meeting on sustainable finance that made … The post Earth’s future is all down to the banks appeared first on Chris Skinner's blog.
Payments Dive
MAY 28, 2019
Over the next year, organizations will be focused on: 1) accelerating their digital business; 2) improving insights through data; and 3) addressing rising customer expectations — all while reducing costs and growing revenue.
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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.
Bank Innovation
MAY 29, 2019
Fintech startup Plaid Inc. is expanding its footprint into the U.K., a region it believes could eventually match the U.S. in terms of revenue, despite political uncertainty. Founded in 2012, San Francisco-based Plaid helps customers and banks transmit data back and forth. The service has caught the attention of major investors, including Andreessen Horowitz and […].
PYMNTS
MAY 28, 2019
Digital assistants. Smart fridges and thermostats. Security devices, too. The Internet of Things (IoT) has gone global, an ever-expanding ecosystem that touches consumers in every facet of their daily lives. The latest Intelligence of Things Tracker shows some pretty big numbers in terms of the billions of devices already out in the field, and the billions of dollars already being spent on those devices … and it seems like things are just getting started.
Chris Skinner
MAY 30, 2019
Things we’re reading today include … Monzo apologises for bank transfer problems HSBC Plans Hundreds of Investment Bank Job Cuts Revolut is the most complained-about small online bank Metro Bank shares slide as fraud investigations launched Raphaels Bank fined £1.9m for poor outsourcing controls Smoothing out banking irregularities has been … The post Things worth reading: 31st May 2019 appeared first on Chris Skinner's blog.
Payments Dive
MAY 30, 2019
RiverPay is working with wellness retailer Holland & Barrett to expand the acceptance of Chinese mobile wallets, demonstrating the growing power of Chinese tourists in driving retail acceptance of mobile payments.
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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
Bank Innovation
MAY 28, 2019
In Barry Libenson’s four years as Global Chief Information Officer at Experian, the credit bureau has undertaken a modernization effort with a price tag in the hundreds of millions of dollars. And, according to Libenson, that investment is paying off. Silos are breaking down, operations are centralizing and the company is shifting to common platforms […].
PYMNTS
MAY 30, 2019
Visa said this week that as acceptance of EMV cards has gained traction in the U.S., counterfeit fraud, measured in dollars for these card present transactions, has dropped precipitously. The latest stats show that the continued upgrade to chip card acceptance – which began in 2015 – has led to a decrease in counterfeit fraud dollars on the order of 76 percent, as measured in December of 2018 vs.
Chris Skinner
MAY 29, 2019
Things we’re reading today include … Scam victims to be refunded by banks NatWest most complained about bank for fraud claims Emirates NBD builds AI-enabled bank with AWS The digital banking revolution is here. So why are so few people putting their salaries into app-only bank accounts? European Central Bank: … The post Things worth reading: 30th May 2019 appeared first on Chris Skinner's blog.
Payments Dive
MAY 29, 2019
What are the factors contributing to the rise of CNP Fraud? What are some of the real-time use cases for fraud prevention? How are authentication technologies evolving? How does FSS Secure 3D benefit issuers. And what’s new?
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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.
Bank Innovation
MAY 28, 2019
The consolidation wave among payments companies got a major boost today with Global Payments’ acquisition of Total Payments Systems (TSYS) for $21.5 billion in stock. It’s the third major payments M&A deal this year, following FIS’ acquisition of Worldpay for $35 billion in March and Fiserv‘s move to buy First Data in January for $22 […].
PYMNTS
MAY 29, 2019
A European Central Bank ( ECB ) official is throwing his support towards wholesale central bank digital currencies (CBDCs). In fact, Vitas Vasiliauskas, a member of the Governing Council of the ECB and chairman of the board of the Bank of Lithuania, said the real issue at play is whether CBDCs should be retail, wholesale, or a combination of both. While a retail CBDC would be available for the general public, wholesale would serve a limited circle, primarily banks.
Chris Skinner
MAY 25, 2019
The main blog headlines are … When will the FinTech bubble burst? Reading about FinTech unicorns and pizzas worth $80 million, you would think that the world was bubbling over with wealth. FinTech investments last year peaked at over $110 billion, more than double the year before, and IPOs for … The post The Finanser’s Week: 20th May – 26th May 2019 appeared first on Chris Skinner's blog.
Bobsguide
MAY 29, 2019
Payments markets are changing drastically, forced by the hand of national and regional regulators as well as a technological advances driving at an incredible pace. Banks and other financial institutions are sitting up to take note. Here, bobsguide speaks with Mohammed Kateeb, group chairman and.
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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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