Chris Skinner
JUNE 12, 2019
I just went through a conversation about my presentation for a forthcoming conference. They didn’t want to provide a prescriptive approach, and just asked what I talked about in general. That’s a challenge, as I once turned up at a conference and they said to me “you have seven hours”. … The post The logic of digital change appeared first on Chris Skinner's blog.
Payments Dive
JUNE 14, 2019
The new EMV Secure Remote Commerce specifications may provide a solution to a longstanding problem with ecommerce checkout creating friction for consumers and being vulnerable to fraud.
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South State Correspondent
JUNE 10, 2019
BANK MARKETING If you are still spending money on print and direct mail, we ask you why? Not only is it hard to track, but it is likely the least effective form of marketing that you can do. While building a brand is good, generating an emotional connection is better. Banks that do a great job at marketing such as Umpqua, Citizens Bank of Edmonds, Bank of Ann Arbor, and many others know that it is all about gaining some level of engagement.
Bank Innovation
JUNE 13, 2019
The peer-to-peer payments race is now more than a duel between bank-backed Zelle and Paypal-owned Venmo. According to a report released Thursday from Nomura Instinet analyst Dan Dolev, Cash app downloads grew by 2.2 million in May, up from 2 million in April. Meanwhile, Nomura reported that new downloads of Venmo were up 1.7 million […].
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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
JUNE 10, 2019
During Money 2020 Europe, I bumped into a chap from Monzo. No names mentioned, but he was buzzing and no wonder. The start-up has just boomed through two million users and is growing at over 60,000 account openings a week or 10,000 per day. Some think that number seems high, … The post Challenger banks don’t matter as they’re not a primary account 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.
South State Correspondent
JUNE 10, 2019
A common line of thinking in the banking industry, especially regulators, is that recessions are driven by, or at least exacerbated by, the supply of credit. Banks, in an effort to stay competitive, tend to drop their lending standards to hit their loan growth targets. In doing so, these banks take on more and more risk. This occurs until the credit cycle turns, and then banks run into credit problems.
Bank Innovation
JUNE 14, 2019
Fintech executives sounded off on blockchain at CB Insights’ Future of Fintech conference this week. According to Henrique Dubugras, CEO and co-founder of Brex, blockchain is overhyped but cryptocurrencies are underrated. The corporate credit card startup is fresh off a $100 million funding round that has landed it a $2.6 billion valuation just one year […].
Chris Skinner
JUNE 9, 2019
I recently started to worry that people might think I have some sort of arrangement with Ant Financial to publicly endorse them, as I’m such a fan-boy. I talk about what Alibaba, Ant Financial and Alipay is doing in every presentation, blog about them a lot and am thoroughly enraptured … The post Alipay partners with six mobile wallets for Europeans appeared first on Chris Skinner's blog.
Payments Dive
JUNE 14, 2019
Companies around the world work with partners to build, launch, and manage complete platforms, customizing systems to meet evolving market demands. executing on revenue goals — to build their businesses. But it’s more than just a business. Read our end-user stories to explore the impact of enabling digital commerce in a variety of communities.
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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
South State Correspondent
JUNE 12, 2019
IMPROVING BANK PRODUCT SALES A surge in alternative lenders and intense competition among banks has forced community bank lenders to further differentiate themselves and their institution. Many lenders are switching their professional focus from being a salesperson to being a trusted advisor. Recent teaching from St.
Bank Innovation
JUNE 10, 2019
Silicon Valley-based KeyPoint Credit Union is seeing a lift in user numbers resulting from targeted push notifications. The push notifications target members who haven’t used the app in three weeks, alerting them to the app’s features. They remind members they can send peer-to-peer payments, deposit checks and verify their balances through the app. The notifications feature […].
Chris Skinner
JUNE 11, 2019
I’m a technology lover. Always have been, always will be. To me, technology is like magic. “Any sufficiently advanced technology is indistinguishable from magic.” Arthur C. Clarke Too damn right Arthur. I love technology. But then I got to thinking about what technology is doing to us. To me and … The post We are the robots appeared first on Chris Skinner's blog.
Payments Dive
JUNE 13, 2019
As companies use technology to manage their accounts receivables and payables, they need to take a hard look at several factors regarding the solutions they choose to employ.
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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
JUNE 13, 2019
Cybersecurity is one of the main tasks in the world of digital commerce and payments, and it’s a task that is getting more attention from consumers, companies, regulators and others. But there’s a big problem in this realm — a shortage of cybersecurity experts, the people with the training and expertise to defend retail and payments from increasingly sophisticated online criminals.
Bank Innovation
JUNE 10, 2019
As upstart digital-only banks face increasing pressure to acquire and retain customers, a 20-year-old online-only bank has managed to hold on to most of its original customer base. David Becker, CEO of Fishers, Indiana-based First Internet Bank, told Bank Innovation that it has kept 90% of its original customer base as a result of its niche […].
Chris Skinner
JUNE 13, 2019
I annoy a lot of people. I don’t mean to. But anyone with a description of ‘troublemaker’ is going to annoy someone. What’s interesting is the different reactions I get from start-ups, technology firms, banks and internet giants. In general, the ones who seem to get most irritated by me … The post A bank CEO should be better appeared first on Chris Skinner's blog.
Payments Dive
JUNE 13, 2019
Retailers are increasingly incorporating Internet-of-Things devices into store operations, but delivering on the value proposition requires dependable connectivity.
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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
JUNE 10, 2019
Uber is expanding its services and moving toward providing financial products, according to a report by CNBC. The company has reportedly been hiring numerous product managers and engineers. Its new FinTech team could ultimately have more than 100 workers. Uber is taking advantage of New York’s talent pool in the financial department, which has more depth in the San Francisco sector.
Bank Innovation
JUNE 14, 2019
Sally Krawcheck, co-founder and CEO of digital investment advisory company Ellevest, has built an investment product geared at a market she said many digital wealth platforms aren’t effectively reaching: women. Krawcheck, who launched Ellevest in 2016, told an audience at a fintech event in New York this week that the market has room for many […].
Chris Skinner
JUNE 11, 2019
Things we’re reading today include … Singapore’s Ride-Hailing App Grab Mulls Becoming a Bank JP Morgan’s 180 On Its Stand-Alone Digital Bank Underscores The Adoption Challenges Facing Crypto Banks Are Second, Or Third, Choice For IT Grads, So They Have To Work Harder The heavy cost of policing financial services … The post Things worth reading: 12th June 2019 appeared first on Chris Skinner's blog.
Payments Dive
JUNE 13, 2019
The deadline has been extended to submit award entries for the annual BCX Summit for banks and fintechs in several important categories.
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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
JUNE 11, 2019
Thailand’s Siam Commercial Bank won’t be using Ripple’s XRP technology despite earlier announcements of such plans. According to reports in BlockTribune on Monday (June 10), Siam Commercial Bank (SCB) retracted a previous statement that it was planning to integrate use of Ripple’s XRP token to power cross-border B2B payments.
Bank Innovation
JUNE 13, 2019
British challenger bank Monzo today announced the initial roll-out of its financial app and connected Mastercard debit card in the U.S. market. Monzo does not currently have a U.S. banking charter, but it initially will operate with a yet-to-be-announced partner bank. Tom Blomfield, CEO and co-founder of Monzo, told Bank Innovation that his company's work with […].
Chris Skinner
JUNE 8, 2019
The main blog headlines are … M&A … Murder & Assassination I was having a breakfast meeting with a banking friend who had recently been through a tortuous experience. His start-up had been acquired by a major traditional bank, and it ended with blood on the floor. The start-up got … The post The Finanser’s Week: 3rd June – 9th June 2019 appeared first on Chris Skinner's blog.
Payments Dive
JUNE 13, 2019
Only one day remains to submit award entries for the annual BCX Summit for banks and fintechs in several important categories.
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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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