Payments Dive
OCTOBER 19, 2018
Digital channels are being widely accepted by today's consumers, but with this adoption comes the increase in impersonal transactions through online and mobile banking, drastically impacting the traditional model of building relationships
Chris Skinner
OCTOBER 17, 2018
I don’t normally share press releases or advertorial, because this is my blog and it’s meant to be neutral and independent, but I have a stake in 11:FS and so this is different. 11:FS, for those who are unaware, are a challenger consulting firm, focused on FinTech (click links on … The post 11:FS launches Banking-as-a-Service appeared first on Chris Skinner's blog.
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Bank Innovation
OCTOBER 18, 2018
The lending market is going through some major, rapid changes, and it’s more exciting than ever for consumers looking for attractive deals on their loans. At the same time, lenders themselves have an easier time managing the huge volume of customers they have to work with, along with all the data they generate on a […].
PYMNTS
OCTOBER 18, 2018
Mastercard, the payments company, announced on Thursday (Oct. 18) that cardholder signatures will now be optional for the back of credit cards and receipts. In a press release , Mastercard said it is making the changes due to advancements in technology and security. “With modern, advanced forms of authentication now available, removing the requirement for signature capture at the point of sale and now signature panels on Mastercard cards is an important step in support of our digital evolution,”
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Payments Dive
OCTOBER 16, 2018
A recent study conducted by ath Power Consulting revealed that banks and credit unions are the most favored providers of digital payment services. How can financial institutions capitalize on it?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
OCTOBER 18, 2018
Banks need not fear large technology companies like Google or Apple taking their business. Digital banking continues to be the most convenient option for simple daily transactions, but branches are still necessary for the more complex ones And yet banks should not ignore the shift in banking habits brought on by non-bank technology companies. For one, […].
PYMNTS
OCTOBER 17, 2018
Visa announced today the commercial expansion of its Visa Token Service for “credential-on-file token requestors.” This expansion involves adding 20 acquirer gateway and technology partners as token requestors — including the likes of PayPal, Worldpay and Adyen — who can now, or soon will be able to, tokenize credential-on-file digital payments for their merchant and payment clients.
Payments Dive
OCTOBER 19, 2018
Host Will Hernandez, discusses the power of loyalty programs and how they relate to mobile payments, with Zachary Goldstein, CEO of Thanx. He also discusses restaurants in the mobile space, with Shelly Whitehead, from Pizza Marketplace and QSRweb.
Chris Skinner
OCTOBER 15, 2018
Just continuing on the theme of how different industries can learn from each other, I used to work for NCR. NCR had several major industries they served: retailers, airlines, telcos and banks. The common thread across all of these industries was high frequency customer contact, and the challenge for all … The post It’s all about the data appeared first on Chris Skinner's blog.
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Bank Innovation
OCTOBER 16, 2018
BankMobile, the mobile-first bank launched and (still) owned by Customers Bank, appears to have scored T-Mobile as client. BankMobile indicated in a Securities and Exchange Commission filing that it will provide banking products to T-Mobile's 76 million customers in the U.S. T-Mobile is a subsidiary of the German telecommunications firm Deutsche Telekom AG.
PYMNTS
OCTOBER 18, 2018
The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. However, Swiss officials recently took steps to get ahead of the regulatory uncertainty surrounding the world of blockchain, focusing on a particularly large hurdle for companies in the industry. In July, reports in the Financial Times said Switzerland is working to open the nation’s traditional corporate banking market to cryptocurrency companies finding it difficult
Payments Dive
OCTOBER 17, 2018
This market report gives an overview of the mobile payments landscape of the Middle East and North Africa. It covers 10 markets where Fortumo has coverage. These markets are (by population): Egypt, Turkey, Algeria, Iraq, Morocco, Saudi Arabia, Tunisia, United Arab Emirates, Kuwait and Bahrain.
Chris Skinner
OCTOBER 19, 2018
I grew up as a marketing guy. My first career roles were in marketing. I was trained by Kotler and Drucker, and still hold true to first principles of marketing: the 4 P’s or, if you’re not a marketing person, product, price, place and promotion. This is the original marketing … The post Customer intelligent marketing is not a scary thing appeared first on Chris Skinner's blog.
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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
OCTOBER 19, 2018
PayPal has added 9.1 million new active accounts surpassing 254 million net active users in 3Q18. And that number will likely grow significantly thanks to its Walmart partnership, through which PayPal will target a large portion of the underbanked audience. In the earnings call yesterday for the third quarter ended in September 30, PayPal CEO […].
PYMNTS
OCTOBER 19, 2018
Internet hackers have pilfered $882 million of digital currency from crypto exchanges since last year, but one group in particular has netted roughly half that amount: Group-IB noted in a report that a North Korean hacking group, Lazarus, has taken $571 million through an analysis of 14 different attacks, The Next Web reported. In general, hackers turn to methods such as social engineering, malware and spear phishing to target digital currency exchanges.
Payments Dive
OCTOBER 19, 2018
FSS Payment Gateway processed an approximate 14.7M transactions this festive season.
Chris Skinner
OCTOBER 15, 2018
The CEO of Australian bank Westpac says that we could all learn something from the airline industry. I agree, so here’s a learning story from United Airlines. Last week, I was having a moan on twitter about them. It’s an experience that I’m going to share, but this is not … The post Banks can learn from airlines appeared first on Chris Skinner's blog.
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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
OCTOBER 17, 2018
The people have spoken. The future of banking is mobile and cashless, or at least “mostly cashless." That’s according to Bank Innovation’s annual State of Banking Innovation survey for 2018. Respondents working at banks, credit unions and finance companies say the three major areas of innovation their firms are putting their money this year are […].
PYMNTS
OCTOBER 15, 2018
In 2009, consumers first coined the term “Whole Paycheck” as a tongue-in-cheek way to describe the sticker shock many felt when looking at their receipts after a shopping trip to Whole Foods. Whole Foods is, of course, the organic grocery chain that Amazon bought for $13.7 billion in June 2017. In 2018, the term can now be more legitimately used to define the portion of consumer spend and overall retail sales Amazon now captures given the expansion of its ecosystem.
Insights on Business
OCTOBER 16, 2018
There’s a new normal in financial services. Regulations such as the second payment services directive (PSD2) and the Open Banking project spearheaded by the UK’s Competition and Market Authority (CMA) are driving disruption in the banking value chain. Customer behaviors are changing, making it necessary to find new ways of interacting and creating engagement.
Chris Skinner
OCTOBER 18, 2018
Things we’re reading today include … PayPal quarterly profit beats estimates, shares rise Top Morgan Stanley banker moonlighted as an Uber driver to try to win role on IPO Hundreds join growing list of Britain’s ultra-rich American Express boosts full-year earnings forecasts Australia’s NAB cuts 300 staff over wrongdoing EU … The post Things worth reading: 19th October 2018 appeared first on Chris Skinner's blog.
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Bank Innovation
OCTOBER 19, 2018
Noncash payments fraud in the U.S. outpaced growth in noncash payments overall between 2012 and 2015, according to a Federal Reserve Payments Study released this week. The study’s survey of depository institutions found noncash payments fraud increased 37%, from $6.1 billion in 2012 to $8.3 billion, in 2015. Meanwhile, over the same period, total noncash payments […].
PYMNTS
OCTOBER 15, 2018
When Maryland Attorney General (AG) Brian E. Frosh issued a warning to the state’s small business (SMB) owners last week, he shed light on the fact that, despite business owners’ rising focus on cyberattacks, some scammers continue to use legacy tactics to target their victims. AG Frosh’s warning pertained to a specific small-business cybersecurity threat.
Payments Dive
OCTOBER 17, 2018
This infographic looks at some of the strategic considerations and concerns present today regarding data breach protection, including how time is critical, why some firms do not deploy data security measures and what the biggest threats are. Download your copy now!
Chris Skinner
OCTOBER 15, 2018
Things we’re reading today include … “World’s first design-led bank” Anna aims to attract creative businesses Former ‘Bad Bank’ Boss Accused Over Bribes, Banquets and Boudoirs China’s P2P lenders say regulation will fuel collapse Banks will not be forced to reveal climate change risks they face Bank of America profit … The post Things worth reading: 16th October 2018 appeared first on Chris Skinner's blog.
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