Chris Skinner
JUNE 3, 2019
When did FinTech become FinTech? When did technology in finance become cool? I guess the first thing is to define FinTech, which I did badly four years ago. I say badly because my definition back then was: FinTech [is] a new market that integrates finance and technology. This new market … The post When did FinTech become cool? appeared first on Chris Skinner's blog.
Payments Dive
JUNE 6, 2019
Latin America presents a growing regional economy, however the payments and ecommerce industries present unique challenges.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Bank Innovation
JUNE 6, 2019
Guaranty Bank and Trust is using new technology to make it easier for potential new customers to switch bank accounts as it expands its branch network. The Mount Pleasant, Texas-based bank has added eight new locations over the past year in locations like Fort Worth and Dallas. The digital tool, called ClickSwitch, helps Guaranty encourage […].
PYMNTS
JUNE 3, 2019
PayPal announced on Monday (June 3) the launch of the PayPal Commerce Platform, which is designed to meet the needs of marketplaces, eCommerce solution providers and crowdfunding platforms. In a blog post , Bill Ready, PayPal’s chief operating officer, said the new digital platform will provide what the company is calling the most comprehensive set of technology, tools, services and financing for businesses of all sizes around the world.
Advertisement
It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
Chris Skinner
JUNE 4, 2019
I had an interesting discussion about hiring technology people into banks the other day. The challenge of finding top coders is a big one, as there’s an awful lot of other firms to join out there. You could join a hot FinTech unicorn like Monzo, SoFi, Stripe, Ant Financial, Ping … The post The war for (banking tech) talent 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 5, 2019
A fintech incubator called Silicon Fintech Bay is launching in Redwood City, California. CEO Rick Frisbie declined to say what areas the incubator will focus on, but he told Bank Innovation that selected companies will get to work with the program’s partners on problems they’ve identified. “We don’t want to go willy nilly and find […].
PYMNTS
JUNE 6, 2019
It’s not just technology that moves the world. Culture plays a huge role — as well as the sparks that often come from the tension when cultures clash. That promises to be the case going forward with Open Banking, as financial institutions (FIs) pick partners and proof of concepts. Open Banking is a global effort that resets the relationships FIs have with FinTech firms, payment providers and financial service providers.
Chris Skinner
JUNE 5, 2019
I’ve been finding it increasingly frustrating on my travels, thanks to one of my credit card companies. My travelling depends on two credit cards: a bank issued corporate MasterCard and American Express. The reason I carry these two is that the MasterCard works across Europe, where quite a few countries … The post Card … short for Cardbored appeared first on Chris Skinner's blog.
Payments Dive
JUNE 7, 2019
The U.S. trade dispute with China is beginning to impact luxury retail due to a slowdown in spending from Chinese tourists. The trend could impact mobile transactions, as Chinese travelers have a huge preferences for using mobile platforms for shopping and payments.
Advertiser: ZoomInfo
Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.
Bank Innovation
JUNE 5, 2019
Global money transfer firm Western Union will implement Visa’s real-time push payments platform, Visa Direct, in an effort to speed up and bring transparency to cross-border, cross-currency money transfers, the companies announced today. Western Union, which completed more than 800 million transactions for consumer and business clients in 2018, said it can offer customers an […].
PYMNTS
JUNE 4, 2019
Lead, follow or get out of the way — that seems to apply to the rise of Open Banking, which promises more financial services innovation, along with greater financial transparency and flexibility. While nothing is inevitable, and even the best plans are always in danger of stalling out or being derailed, the energy behind Open Banking is gaining steam.
Chris Skinner
JUNE 6, 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 SMEs are the FinTech’s bees knees appeared first on Chris Skinner's blog.
South State Correspondent
JUNE 4, 2019
THE DIGITAL CUSTOMER EXPERIENCE While online account opening and digital lending are great, there is one function that is the most in demand by bank customers, yet most banks don’t think to provide any digital functionality around it. It is the one function that drives up the most cost for a bank and is the most significant reason why bank customers still say they want a branch.
Advertisement
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
JUNE 7, 2019
Taking a page from Amazon Pay, Mastercard is working with tech company EMVCo to create a one-click checkout experience for e-commerce customers. The payments giant said the new secure remote commerce specification will replace key-entry guest checkouts with a more secure, password-free option for Mastercard’s U.S. cardholders, regardless of which device or card they use. […].
PYMNTS
JUNE 7, 2019
MoneyGram and Canada Post have teamed up for a digital money transfer service that allows users to complete transactions at select Canada Post locations all over the country, according to a release. “To initiate a transaction, consumers simply visit moneygram.ca, create a profile, start a transaction and choose the ‘Cash at a Location’ option,” the release said.
Chris Skinner
JUNE 5, 2019
Things we’re reading today include … Next Bank of England governor must serve the whole of society Standard Chartered shows it’s a bank of action against illegal poaching ‘Bad bank’ repays £50bn bailout loan ‘Bad bank’ repays £50bn bailout loan The green bank for kids – set up by a … The post Things worth reading: 6th June 2019 appeared first on Chris Skinner's blog.
Abrigo
JUNE 4, 2019
The Financial Accounting Standards Board’s new current expected credit loss (CECL) standard, known as one of the biggest changes to bank accounting. Because of the complexities and changes that CECL brings, there are many questions surrounding implementation, potential effects, and more. The Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (O
Advertisement
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
JUNE 6, 2019
JPMorgan Chase's millennial-friendly digital banking app Finn is shutting down, just one year after it rolled out nationally. In an email to customers, the bank stated that Finn customers will see their accounts automatically moved to Chase Secure Checking and Chase Savings accounts on August 10, when the app will be permanently shut down. The […].
PYMNTS
JUNE 3, 2019
The two most powerful forces shaping the future of retail payments have nothing to do with payments at all. At least at first glance. Ironically, they are also the two things that shaped the modern payments landscape as we know it today, as it grew up and got wired over the last 60 years – and why that playbook is being disrupted by players decades their junior with market caps that rival or even dwarf their own.
Chris Skinner
JUNE 1, 2019
The main blog headlines are … Earth’s future is all down to the banks 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 … The post The Finanser’s Week: 27th May – 2nd June 2019 appeared first on Chris Skinner's blog.
Accenture
JUNE 5, 2019
Late 19th century American farmers, threatened by industrialisation, had to use new tools and techniques to innovate and survive. African-American inventor, scientist and botanist George Washington Carver, summed it up like this: “When you do the common things in an uncommon way, you’ll command the attention of the world.” Carver was certainly an innovator, having reputedly discovered three hundred uses for peanuts and hundreds more for soybeans, pecans and sweet potatoes.
Advertisement
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 7, 2019
As fintech moves beyond digitizing legacy systems to a focus on intuitive, customer-driven experiences, the field of startups competing for market share is getting crowded. According to CB Insights, venture-backed fintech companies raised $6.3 billion across 445 deals globally in the first three months of this year. NYCA Partners, based in New York and San […].
PYMNTS
JUNE 4, 2019
In the old days, forged checks were the biggest problems that bank fraud departments had to manage. Today, financial institutions (FIs) face a barrage of cyberattacks from hackers operating around the world, continuously shifting their tactics. It is no wonder that fraud prevention is one of the problem areas that FIs hope artificial intelligence (AI) can help resolve.
Chris Skinner
JUNE 2, 2019
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 squeezed into the Empire, and it literally was like something from … The post M&A … Murder & Assassination appeared first on Chris Skinner's blog.
Payments Dive
JUNE 7, 2019
Engaging customers over digital channels has become table stakes in financial services, A leading bank in India has deployed Mobile Pay, our Digital Banking Solution, to build an expansive partner ecosystem to engage customers and achieve services differentiation.
Advertiser: ZoomInfo
In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.
Expert insights. Personalized for you.
419 
Let's personalize your content