Chris Skinner

JUNE 16, 2017

I’m boarding a flight yesterday and murfing (mobile surfing). Flicking between Facebook apps, twitter, bank account, BBC news and more. Suddenly I spot a new ICO – Initial Coin Offering – for a new bank. From Wikipedia: “An initial coin offering (ICO) is a means of crowdfunding the release of a new cryptocurrency. Generally, tokens for the new cryptocurrency are sold to raise money for technical development before the cryptocurrency is released.

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Bank Innovation

JUNE 12, 2017

2017 was a tumultuous year, but despite some stops and starts, innovation in finance is only gaining more momentum. As the year saw changes in financial regulation, startup culture, and trends in venture capital, innovation moved forward: blockchain labs were made, funding was fought for, mobile payment systems were integrated, and the limits of artificial […].

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Payments Dive

JUNE 15, 2017

Pay-at-the-table devices, which generally accept both EMV and contactless payments, could start to appear at restaurants in a big way during the next couple of years.

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Payments 353

PYMNTS

JUNE 14, 2017

There was a time when the telegraph was as important to keeping people connected as the smartphone is today. And while the telegraph’s heyday may well be over, the network it once rested upon can still be put to good use, especially with an assist from API solutions. As more merchants and smaller businesses seek to engage in global commerce, several companies are stepping up their efforts to help merchants address the complexities presented by international trade.

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Chris Skinner

JUNE 14, 2017

I regularly blog about the same subject, namely CHANGE YOUR CORE SYSTEMS. Banks do a great job of not listening to me, but that’s because they’ve caught themselves in Catch 22: screwed if I change them and screwed if I don’t. How did they get into this mess and how can they get out of it? Well, there is a way but most banks aren’t taking this way because they’re led by bankers who don’t get technology and don’t know how to implement digital transformation. 94% of the C-Suite team of banks are

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Payments Dive

JUNE 13, 2017

Millions of Americans use smartphones for everyday tasks such as taking pictures, working out, or arranging transportation, yet mobile wallets have struggled to gain traction among consumers.

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Accenture

JUNE 16, 2017

In my first blog of this series on our latest UK banking consumer survey— Beyond Digital —I explained why there’s still plenty of life in the bank branch, since even younger customers still value human interaction. In this second post, I look at our findings on a much newer and more virtual channel to market: robo-advice—the new generation of automated financial advice services powered by artificial intelligence (AI).

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Millennials Maine Study Security 186

Chris Skinner

JUNE 15, 2017

I was invited to talk to some City folks about using data analytics for trading. It made me pause for reflection, as I’ve been talking about analytics for trading for a long, long time. Twenty years ago in fact. Back in the 1990s, we were taking about object oriented programming, neural networking for stock picking and program trading. A decade later we had moved along to focus far more on low latency, high frequency trading using algorithms and black boxes.

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Bank Innovation

JUNE 16, 2017

Openbank, Santander’s 22-year-old subsidiary that operates in Spain, has just completed a major relaunch, going fully-digital and expanding its product offerings, the bank announced today. As part of the relaunch, the company will offer its 1 million customers a full suite of banking products, complete with all-digital onboarding, biometric identification, 24-hour virtual branches, and video […].

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Payments Dive

JUNE 16, 2017

Blockchain continues to win mindshare among fintech executives. The naysayers' position is starting to soften, and the viability of blockchain as a means to exchange information between untrusted parties has begun to receive recognition from major banks.

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blockchain Fintech 223

Abrigo

JUNE 14, 2017

Many banks and credit unions have found a path to growth via partnerships with fintechs. For some financial institutions, partnering with software providers has helped them maintain a competitive advantage. Technology partners offer much more than just software to banks; a fintech partnership provides delivery channels, convenience, corporate governance , advisory services, and industry data.

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Chris Skinner

JUNE 12, 2017

I thought I’d wait until after the weekend to write a post about the implications of the UK election results. It’s not my place to write about the pros and cons of the election campaigns, although I will say that the alienation of the elderly and those who are parents by the Conservative’s campaign – which included a dementia tax and the withdrawal of school lunches – were almost tombstones in theirs.

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Bank Innovation

JUNE 16, 2017

In this episode, host Brett King is joined by Stephen Wolfram to talk about Artificial Intelligence and Machine Learning, and how those will affect the future of money, finance, and the ethical discussions we need to be having to plan for it. Stephen Wolfram is the creator of Mathematica, Wolfram|Alpha and the Wolfram Language; the author of […].

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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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PYMNTS

JUNE 14, 2017

Potcoin , the digital cryptocurrency similar to bitcoin but aimed at the legal marijuana market, got much-needed publicity by sponsoring Dennis Rodman’s trip to North Korea. According to a report in Business Insider , the value of Potcoin jumped nearly 97 percent, to more than $0.18, in trading on Tuesday after Rodman was photographed wearing a Potcoin T-shirt when he arrived in the country.

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Bitcoin cryptocurrency Policies Compliance 179

Accenture

JUNE 16, 2017

In my first blog of this series on our latest UK banking consumer survey— Beyond Digital —I explained why there’s still plenty of life in the bank branch, since even younger customers still value human interaction. In this second post, I look at our findings on a much newer and more virtual channel to market: robo-advice—the new generation of automated financial advice services powered by artificial intelligence (AI).

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Millennials Maine Study Security 150

Chris Skinner

JUNE 13, 2017

I hosted a banking dinner the other night, where we were talking about the FinTech scene in this particularly vibrant and innovative country. It was under the Chatham House Rule, so I can’t say too much about who and where this dinner was, but it did amuse me half way through when we were talking about banks trying to be innovative. I made the comment that you have this can do and can’t do culture, and how it’s very hard to be innovative if everyone shouts you down.

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Bank Innovation

JUNE 13, 2017

Financial services have been experimenting with blockchain projects for quite a while now. In fact, 2017 seems to be the year blockchain is set to break out of the Proof-of-Concept stage and into production environments — yes, even for banks. But driving blockchain experiments into real-life adoptions is a considerable journey, and big enterprises don’t […].

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blockchain 341

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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

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PYMNTS

JUNE 14, 2017

Could Alexa’s latest API skill stem losses to streaming services for pay TV providers and the telco industry? Some providers seem to think so, with Dish, NetGem and YouView already on board. The skill? Amazon announced June 8 that its virtual assistant has learned to control more than just the company’s own Fire TV stick: Now, for developers that opt to use the Video Skill API, any cable or satellite TV company, streaming service or content provider can add Alexa voice control to its app.

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Insights on Business

JUNE 14, 2017

The worldwide banking industry experienced profound challenges during the Great Recession of 2008-2009. While the global economy has improved, the pressure on banks is unabated. Pressures stem from a myriad of sources: competition from fintechs; unrelenting regulatory environment; associated costs of compliance (or non-compliance!); increasingly sophisticated security threats; and, most recently, shifting customer expectations driven in large part by millennials.

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Marketing social media Millennials Customer Experience 156

Chris Skinner

JUNE 14, 2017

Things we’re reading today include … Andy Haldane reappointed to Bank of England monetary policy committee Zelle, the real-time Venmo competitor backed by over 30 U.S. banks, arrives this month Is buying Lloyds Banking Group plc the best way to make a million? Former Barclays anti-money laundering director named City minister Misys boss to lead fintech giant after merger with DH Brexit to prompt ‘very few changes’ at Rothschild as revenue soars Three US bank chiefs fall v

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Policies Groups Fintech US 179

Bank Innovation

JUNE 12, 2017

Startups set on competing with banks and larger incumbents may not be the most attractive companies, at least according to those looking to fund them. For companies like growth equity firm Centana Growth Partners, the priority is investing in companies that are growing to service the existing financial services ecosystem (rather than supplant it), according to […].

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Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

US

PYMNTS

JUNE 13, 2017

Since the advent of technology, the age-old battle of man versus machine has been an issue. Whether it’s televisions entering homes in the mid-20th-century or personal computers coming onto the scene in the late 1980s, technology has no doubt had an effect on everyday life. By integrating tech into various aspects of everyday life, many processes have become streamlined.

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Study Policies Technology Regulation 171

Payments Source

JUNE 14, 2017

The global push to expand financial inclusion takes many paths, based on the challenges—and unique market advantages—in countries where vast portions of the population lack access to modern banking services.

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Mobile Marketing Payments 121

Chris Skinner

JUNE 14, 2017

Things we’re reading today include … Trump’s Wall Street game plan needs players Three UK currency traders abandon US extradition fight and agree to face charges in Manhattan court Dodd-Frank is complex and overburdens the financial sector StanChart brings in senior talent to fuel U.S. expansion London could lose EU euro clearing role U.S. plans threaten to undermine global bank reforms Brussels unveils plans to grab large parts of London’s €850bn-a-day euro-clearing mar

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US Marketing 178

Bank Innovation

JUNE 15, 2017

Innovation is all well and good, so long as it keeps banking simple. Most financial institutions are now at the stage where “anticipating the customer’s need” is a critical step towards creating that simplicity, whether it’s for mobile banking, payments, or other daily banking tasks, according to Andy Hernandez, executive vice president and head of […].

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