Chris Skinner
JULY 1, 2019
I’ve been involved in finance and technology for a long, long time. Originally, I was a technologist; then a financial technologist; and now a FinTech guy. However, I see the FinTech piece as being irrelevant. Whether it’s FinTech or TechFin, it’s all still just finance and technology. The difference is … The post The end of FinTech appeared first on Chris Skinner's blog.
Bank Innovation
JULY 5, 2019
A new breed of banking startups wants to lock in customers while they’re in high school and college. As the ecosystem of millennial-focused challenger banks gets crowded, a growing number of startups are focusing on Gen Z customers, or those who were born in the mid-1990s onwards. The objective is to become the customer’s primary […].
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South State Correspondent
JULY 1, 2019
BANK TECHNOLOGY DECISIONS The largest problem with bank innovation is that we see or hear about a sexy piece of technology at a conference or at another bank and then acquire it. The new piece of technology ends up solving a known problem but in the process actually creates more problems, and risk, than it solves. It’s called the “Shiny Object Syndrome” (SOS), and it could be sowing the seeds of destruction for many banks.
Payments Dive
JULY 2, 2019
The chaos surrounding the looming Brexit deadline is causing some fintechs and digital banks to take precautionary steps.
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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
JULY 4, 2019
No, I don’t mean Attention Deficit Disorder, which would be ADD, but I mean Artificially Intelligent with Dumb Data. Now, I know I moan on and on about fragmented legacy systems, but I honestly have no idea how a bank could ever be able to compete with an Apple or … The post How can you be AI with DD? 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
JULY 1, 2019
TECHNOLOGY TRENDS Starting in 1995, star-analyst Mary Meeker, “The Queen of the Internet,” co-founder at ReCode, and partner at the investment firm Bond Capital delivers a 30-minute presentation on the state of the digital landscape. The presentation is always the talk of the digital town as it has been the definitive source of major trends backed by quantitative evidence.
Payments Dive
JULY 3, 2019
Coinsquare, a Canadian cryptocurrency exchange, has partnered up with Just Cash to allow consumers to buy bitcoin via regular, non-bank operated ATMs in the U.S.
Chris Skinner
JULY 3, 2019
Building on yesterday’s blog about reports that are useful, I just found another one from UK Finance (formerly the British Bankers Association) on how they see AI in banking, released last week. The report is in two parts that address what they see as the two key issues banks face … The post AI in banking: the pitfalls and opportunities (research paper) appeared first on Chris Skinner's blog.
Bank Innovation
JULY 2, 2019
Digital lender Kabbage, which offers small businesses lines of credit up to $250,000, has secured a four-year revolving credit facility to fuel further growth. The funding, provided by an undisclosed “leading life insurance company,” is the longest period of committed debt capital for the 10-year-old company and a major boost for its business model as […].
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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
PYMNTS
JULY 1, 2019
The rise of the global economy and the demand for swift and secure cross-border payments is driving the development of more efficient infrastructures, and spurring financial institutions (FIs) to experiment with emerging tech. According to the new Smarter Payments Tracker , cross-border business-to-business (B2B) payments generated approximately $125 billion in revenue last year, a figure that continues to grow as the economy becomes more global.
Payments Dive
JULY 1, 2019
Download this infographic from TNS which looks at the results of a series of recent industry studies which highlight the latest data breach trends. It uncovers the top 5 types of breach incidents, which assets and data criminals are targeting and the number of organizations who have been affected.
Chris Skinner
JULY 1, 2019
I was talking to a Securitisation conference the other day. Securitisation? What’s that? Well, I could explain but if you don’t know google it and you’ll find it’s one of those areas of financial markets that destroyed economies a decade ago and left us all with a huge debt. Well, … The post Fintech foundations lie with both financial and technology people appeared first on Chris Skinner's blog.
Bank Innovation
JULY 5, 2019
The Bank of Montreal has launched a mobile loan application tool for its Canadian customers. Brett Pitts, BMO's chief digital officer, told Bank Innovation the product rollout was a response to customer demand. “Customers were looking for a solution that would simplify the process and provide them with a real-time decision,” he said. BMO, like […].
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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
JULY 5, 2019
It’s been a little over two weeks since we all got our first look at Libra and Calibra. No doubt there will be countless news stories to come, and opinions on why it will or will not fly. Here are the things I will be watching for over the coming months, things that I think provide a useful framework for understanding how Libra and Calibra’s future takes shape: How many of the 28 Founding Association Members will pony up $10 million to remain members.
Payments Source
JUNE 30, 2019
By turning compatibility into a nonissue, APIs help enable open banking, which has the potential to offer core banking services such as payment initiation or account balances through APIs, writes JPMorgan Chase's Stephen Markwell.
Chris Skinner
JULY 2, 2019
An interesting report came out this week saying that UK consumers would access mobile banking apps more often than branches in the next two years. It got covered on the BBC, Sky News and lots of other media, but I was thinking in the next two years? It just shows … The post Mobile first is a no brainer, but what is digital first? appeared first on Chris Skinner's blog.
Bank Innovation
JULY 5, 2019
The growth of capital in play in the private market is changing how private companies, particularly tech startups, find liquidity in the race to go public. Exits of firms like Uber, Lyft and Slack have made 2019 something of a banner year for initial public offerings. It's notable Slack chose the direct listing route, in […].
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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
JULY 2, 2019
Payment bottlenecks cause problems for all types of consumers and companies, not the least of which are small and medium-sized businesses (SMBs). But a new offering from PayPal and Visa could help ease those frustrations and hassles. The two payments firms announced on Tuesday (July 2) the launch of PayPal’s Instant Transfer in Canada for SMBs and individual consumers.
Ron Shevelin
JULY 1, 2019
The inability to achieve scale in financial services may be depressing the number of fintech IPOs. But the root cause of this inability to achieve scale is the lack of sustainable business models.
Chris Skinner
JULY 4, 2019
Things we’re reading today include … In Brexit Britain, battling home lenders chase risk and pensioners Nearly half of global wages received by top 10%, survey finds Osborne thinks he could run the IMF. Maybe gaslighting a country is a useful skill | Faiza Shaheen European financial services leads charge … The post Things worth reading: 5th July 2019 appeared first on Chris Skinner's blog.
Bank Innovation
JULY 4, 2019
Charlie Delingpole, founder and CEO of regtech startup ComplyAdvantage, said big tech firms like Google, Apple, Facebook and Amazon face no shortage of regulatory headaches by venturing into financial services. Facebook, with it's Libra cryptocurrency, is in for an exceptionally bumpy ride, he predicted. ComplyAdvantage, a New York City-based firm that uses machine learning to […].
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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
JULY 1, 2019
Passwords are increasingly vulnerable in today’s day and age. Hacks and data breaches have become all too common, with fraudsters turning to “brute force” attacks and plugging in commonly used passcodes to gain access to users’ accounts. There is a growing need for stronger authentication methods as the number of attacks continues to climb. Unfortunately, FIs are often caught between balancing more stringent security tools and offering the seamless experiences consumers crave.
Payments Source
JULY 1, 2019
For many banks, especially midtier institutions, payments isn’t a core business — and their batch processing-based legacy systems weren’t designed to deliver real-time payments.
Chris Skinner
JULY 2, 2019
Things we’re reading today include … The rise of the CEO as social justice warrior | Jill Priluck Wall Street looks to earnings after strongest June in decades Breakdown of global trading system is looming, Australian economist warns Japan payment systems: paper qualifications Why Facebook’s Libra currency gets the thumbs … The post Things worth reading: 3rd July 2019 appeared first on Chris Skinner's blog.
Bank Innovation
JULY 4, 2019
The Office of the Comptroller of the Currency (OCC) is pushing ahead with its Innovation Pilot Program, a mechanism that will allow regulators to work with financial services companies as new products are being developed. It's meant to ensure regulatory cover for new products, but some industry leaders worry it could get in the way […].
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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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