Chris Skinner
JUNE 18, 2019
My mate Ron Shevlin is on good form these days. He’s written quite a few columns on Forbes that are clickbait: Customers don’t want digital banking The FinTech fast follower fallacy (which I spotted just after writing this yesterday) His latest created quite a twitter furore and was targeted at … The post Monzo and Marcus: American challengers or just noise?
Payments Dive
JUNE 21, 2019
Latin America has become an increasing focus of development in the emerging digital payments market, as the region transitions from a heavily cash-based system to increase automation, speed and transparency.
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Accenture
JUNE 20, 2019
Throughout history, most migrations have taken place in a series of waves and banks’ migration to cloud is no exception. The cloud journey for banking clients started a few years ago in areas such as sales and marketing, with the adoption of platforms like Salesforce and Microsoft Dynamics. The success of these applications then saw the cloud revolution spread to enterprise systems like HR and finance, using solutions such as SuccessFactors and Workday.
South State Correspondent
JUNE 17, 2019
CRE UNDERWRITING Recent data, just released from Real Capital Analytics, shows that since the start of the year (month-end April), commercial real estate (CRE) has appreciated 2.6% in 2019. This is good news for banks as it shows that every significant loan sector likely has improvements in both debt service coverage and loan-to-value. In major markets, this appreciation has been closer to 4.9%, and in secondary markets, price appreciation has been 1.5%.
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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 19, 2019
I’ve blogged a few times about Facebook planning to launch a currency … Will Facebook become the world’s central bank? If Facebook launch a cryptocurrency, will US government shut it down? … and the fact that most regulators won’t like it. In fact, there are already questions being asked in … The post So, Facebook launched a currency … 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
JUNE 20, 2019
The road to growth for consumer fintech companies is taking a platform-based route, with single-offering companies increasingly taking on a family of additional services to lock in customers. Founded in 2010, London- and New York-based venture firm Anthemis Group focuses on early-stage and Series A fintech investments. Its total deployed and deployable capital amounts to […].
PYMNTS
JUNE 17, 2019
Sometimes there are two approaches to the same problem in FinTech: EMVCo’s recently released EMV Secure Remote Commerce (SRC) Specification version 1.0 promises to enable many more seamless retail transactions, and the World Wide Web Consortium ( W3C ) Payment Request application programming interface (API) aims to reduce checkout friction. Modo CEO Bruce Parker told PYMNTS.com in an interview that they are both looking to solve the same problem, “which is simply and securely gathering payment d
Chris Skinner
JUNE 20, 2019
Looking at the world of the future, we all wonder what will happen to work. Will we still have jobs? Will all the dumb jobs disappear so we no longer have call centres (replaced by chatbots and avatars); accountants and auditors (replaced by AI algorithms); Uber drivers and hotel check-in … The post Slave to the machine or free for a dignified life?
Payments Dive
JUNE 20, 2019
The payments industry needs to make adjustments based on the needs of their customers, whether related to age, geography or other factors.
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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
JUNE 17, 2019
HSBC, a top global bank with $2.6 trillion in assets, is making technology a core component of U.S. branch expansion plans. The bank today announced the opening a new location in Cupertino, California, along with 50 planned new branches in the U.S. to be constructed over the next four years. Jeremy Balkin, head of innovation […].
PYMNTS
JUNE 17, 2019
To address a major pain point for the LGBTQIA+ community, Mastercard is introducing the True Name card. The product will allow for chosen names to appear on the front of the card, according to news from Mastercard. In an announcement, the company said, “For many in the LGBTQIA+ community, the name on their credit, debit or prepaid card does not reflect their true identity.
Chris Skinner
JUNE 16, 2019
In my presentations I regularly talk about legacy Europe and America and leapfrog countries from China to India to Kenya to Colombia. The reason the latter countries are leapfrogging Europe and America is that they didn’t have a large, ingrained existing infrastructure for payments and financial transactions in place until … The post Are legacy companies holding back the future?
Payments Dive
JUNE 18, 2019
Download this global infographic to discover the findings of a recent independent survey commissioned by Transaction Network Services into consumer opinions of alternative payment methods like wearables, smartwatches, contactless cards and mobile apps and their willingness to adopt them.
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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
JUNE 21, 2019
Huddl, a digital investment platform headed up by former Blackrock COO Stephen Corliss and former employees of Mastercard, Deloitte and Freddie Mac, is launching in the U.S. in August. Huddl functions like a social network where investors can collaborate, pool their assets and gain access to products typically available to high-net-worth individuals.
PYMNTS
JUNE 17, 2019
In what could be one of the first investments by a crypto-based firm in a major U.S. firm that is publicly traded, Ripple Inc. has arranged to invest up to $50 million in MoneyGram International Inc. Ripple is the company behind the XRP digital currency, The Wall Street Journal reported. Ripple’s Chief Executive Brad Garlinghouse said, according to the newspaper, “This deal is a major milestone for the entire industry.
Chris Skinner
JUNE 17, 2019
I was having dinner with a friend the other night, when he asked me: “what do you think about the fast follower strategy?” I said it was stupid and doesn’t work. He then added that the major bank he’s working with are proud that this is their strategy. Now, here’s … The post Fast follower strategies = final failures appeared first on Chris Skinner's blog.
Accenture
JUNE 17, 2019
Guest bloggers Ben Lopez and Charlie Arthy continue their series on achieving simplified, future-ready bank operations. . For banks to take full advantage of the opportunities brought by Open Banking—from monetizing data to banking-as-a-platform—to grow their business, they will need to embrace and infuse Open Banking technologies into their operations.
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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
JUNE 19, 2019
Tally, a consumer finance app that consolidates and pays down customers’ debts, raised $50 million this week to add new services. The Series C funding round, led by Andreessen Horowitz, will help the San Francisco-based company hire more engineers to help build out more products, according to Erica Dorfman, Tally’s head of finance and operations. […].
PYMNTS
JUNE 20, 2019
Friction bedevils all types of retail — and that holds true for transactions inside stores or via eCommerce sites. At the same time, the ongoing effort to create true omnichannel experiences for consumers often runs into roadblocks of friction, frustrating merchants and consumers alike. That being obvious doesn’t make it any less true — or any less meaningful to those involved in payments and commerce.
Chris Skinner
JUNE 20, 2019
Things we’re reading today include … Global financial bodies not fit for purpose, John McDonnell says Lost wallets more likely to be returned if they contain large sum of money, scientists find Why has Facebook coined their new cryptocurrency Libra? Mark Carney clears the path for new digital currency providers … The post Things worth reading: 21st June 2019 appeared first on Chris Skinner's blog.
Insights on Business
JUNE 18, 2019
In this series of blogs, we will focus on four transformative technologies with emerging risk applications that can help banks and financial institutions grow profitability and protect the enterprise. Each technology is at the start of an enormous adoption growth curve, and has been the subject of intense discussion. In this edition, read how these tools are being deployed now.
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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
JUNE 18, 2019
Facebook Inc. unveiled plans for a new cryptocurrency that the social-media giant hopes will one day trade on a global scale much like the U.S. dollar. Called Libra, the new currency will launch as soon as next year and be what’s known as a stablecoin– a digital currency that’s supported by established government-backed currencies and securities. […].
PYMNTS
JUNE 17, 2019
The rise of faster payment systems has become a global phenomenon. In the past few years, several global markets have invested resources into developing payment systems and infrastructure that enables funds to be delivered in real-time and that operate on a 24/7 cycle. The U.K., the U.S., Hong Kong, India and Australia are among just a few of the nations to launch their own local faster payment systems while a host of other countries are moving forward with their own plans to launch a faster pay
Chris Skinner
JUNE 16, 2019
Things we’re reading today include … Challengers under fire from Bank Bank of England says new lenders could be ill-prepared for downturns Deutsche Bank to set up 50 billion euro bad bank: FT The Bank of England’s biggest problem? The City of London Crypto is coming: get ready to spend … The post Things worth reading: 17th June 2019 appeared first on Chris Skinner's blog.
Insights on Business
JUNE 20, 2019
According to the 2019 AFP Payments Fraud & Control Survey , Automatic Clearing House (ACH) payment fraud increased significantly in 2018, reaching a new record with 82% of organizations reported incidents. Specifically, the percentage of companies that encountered ACH credit fraud jumped to 20% (from 13%), and those who experienced ACH debit fraud rose to 33% (from 28%).
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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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