Chris Skinner
MAY 16, 2019
Three years ago, I blogged about three phases of FinTech. Three years later, I can expand on that theme and talk about five phases of FinTech. The five phases of FinTech are (dates are rough guide): Disruption (2005-2014) Discussion (2014-2017) Partnership (2017-2022) Integration (2022-2027) Renewal (2027+) Phase One: Disruption (2005-2014) … The post Five phases of FinTech (2005-2027) appeared first on Chris Skinner's blog.
Payments Dive
MAY 16, 2019
Research confirms that cashless readers do not undermine cash sales in a vending machine. In fact, the cashless technology serves to improve both cashless and cash activity, particularly for machines doing lower volume sales.
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South State Correspondent
MAY 15, 2019
PROFITABLE BANK LENDING Commercial lenders should be aware of the important factors that drive customer behavior to borrow funds. Our clients borrow from us when they refinance debt, or purchase equipment, real estate, or finance working capital. However, there are three key elements that make debt especially appealing for borrowers. Commercial lenders that understand these three elements can better position themselves for success. .
Bank Innovation
MAY 15, 2019
Lyft drivers will now be able to get paid immediately and plug into a broader banking and personal savings ecosystem. The ride-hailing service is working with Mastercard and payments company Payfare on a co-branded debit card called Lyft Direct Debit. Through it, drivers can be paid immediately regardless of the ride cost. They'll also be […].
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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
MAY 14, 2019
I was asked to speak to the theme of Banking for Humanity at a conference the other day, and it made me realise that the five areas I’ve recently been blogging about came together nicely. First, there’s financial inclusion which is the theme of Digital Human. The fact that anyone … The post Banking for Humanity? 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
MAY 15, 2019
Last week, Finovate Spring 2019 took place in San Francisco in which over 270 banks watched more than 60 companies each have seven minutes to impress you with a demo of their technology. This is speed dating for financial technology, and it is a fantastic way not only to look for new partners but to help your bank hone what is important to its vision.
Accenture
MAY 14, 2019
In the first of a four-part series, our team of guest bloggers will share how getting to simplified, future-ready bank operations may be more easily imagined. . Customers want and expect fast, seamless and personalized service, 24/7 across multiple channels. However, banks are unable to support this if they do not modernize their operations. This requires a digital-centric strategy.
Chris Skinner
MAY 12, 2019
Watching the BBC, I often see reports on the elderly being ripped off, scammed and targeted by fraudsters. Here’s just a few recent ones: Hidden ‘shame’ of elderly scam victims – BBC News Reports of frauds on the elderly are ‘tip of iceberg’ – BBC News Bank staff ‘saving elderly … The post GrandTech: the newest FinTech market niche appeared first on Chris Skinner's blog.
Payments Dive
MAY 17, 2019
Retailers need to be sure their point-of-sale systems are fully compliant, not only to avoid becoming obsolete, but to protect against fraud.
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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
MAY 16, 2019
Mobile enrollments made some major leaps this year, surpassing even computer enrollments. According to a study from IDology, an identity verification and fraud prevention company, 61% of Americans used a smartphone to enroll in some sort of an account this year, while 56% used a computer or laptop. The study also found a 19% jump […].
PYMNTS
MAY 14, 2019
Restaurant management platform Toast has launched Toast Payroll & Team Management, a payroll and HR solution designed for the restaurant industry, the company said in a release. The new service makes payroll easier by automating it, and it also streamlines onboarding and reduces compliance risk. If combined with Toast Point of Sale, the new product integration will let owners instantly onboard and manage employees, keep track of hours throughout all locations, and make sure everyone is paid
Chris Skinner
MAY 13, 2019
Henry Ford famously stated: “If I had asked people what they wanted, they would have said faster horses.” Of course they would, as they had no idea what anything else was. In fact, I use this story often as a Victorian vision of the future was a steam-powered robot horse. … The post Does your bank look like this? appeared first on Chris Skinner's blog.
Payments Dive
MAY 16, 2019
Imagine the power of personalized self-service experiences. Consumer's appreciate acknowlegment and personalization. With IoT-connected self-service devices and Artificial Intelligence, brands can better understand and satisfy customers.
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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
MAY 15, 2019
Banking technology giant Finastra has hired Mark Miller as chief financial officer. He replaces Rob Binns, who recently stepped down from the role. Miller previously served as chief financial officer at Marketo, a marketing automation software company that was acquired by Adobe in October 2018. He brings nearly 25 years of experience in tech, finance and […].
PYMNTS
MAY 16, 2019
Death, taxes and data breaches – those are perhaps the only sure things in life, and new evidence is emerging that hackers are finding increasing profit in targeting online retailers. The news comes amid yet another online retail cyberattack, this one targeting Japan’s Fast Retailing, the company that owns the Uniqlo retail chain. A recent report from KrebsonSecurity said that “until quite recently, credit card data stolen from online merchants has been worth far less in the cybercrime undergrou
Chris Skinner
MAY 15, 2019
Twenty years ago, I was doing a lot of work on business transformation and business process re-engineering (BPR). Most of the firms didn’t do transformation and viewed it as too risky. Instead they went for BPR for BPI … business process improvements. Incremental benefits rather than radical results. That was … The post Lessons from leaders: Satya Nadella, CEO, Microsoft appeared first on Chris Skinner's blog.
Payments Dive
MAY 14, 2019
Apple's defeat in a high-profile Supreme Court case could open competition in the mobile app consumer market.
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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
MAY 15, 2019
Wealthbox CRM, a web-based customer relations management company, believes it has the tools to save financial advisors precious time. “CRM in the wealth sector has been overly complex, and there’s money to be made around that complexity,” Wealthbox CEO John Rourke said in an interview with Bank Innovation. "From CRM classroom and software training to […].
PYMNTS
MAY 13, 2019
The spotlight burned brighter for peer-to-peer (P2P) payment services in the first quarter of 2019, with those payment methods finding popularity among more consumers. However, P2P’s future growth will depend on solving problems related to data privacy and other issues — at least, according to some observers. Perhaps the biggest story in P2P, though, is the ongoing battle between P2P providers Zelle (operated by Early Warning Services ) and Venmo (owned by PayPal ).
Chris Skinner
MAY 15, 2019
Things we’re reading today include … World’s Largest Banks 2019: U.S. Takes Aim At Chinese Dominance A false rumor on WhatsApp started a run on a London bank Payday lenders face sharp criticism as complaints rise 130% Buffett’s Berkshire unveils $861 million Amazon stake Mel Gibson says new film ‘Rothchild’ … The post Things worth reading: 16th May 2019 appeared first on Chris Skinner's blog.
Payments Dive
MAY 14, 2019
Fortumo's latest market report gives an overview of the mobile payments landscape in Latin America: Brazil, Mexico, Argentina, Colombia, Peru, Chile and Ecuador.
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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
MAY 14, 2019
It was only a matter of time before confidence in the financial system would be tested by false information on social media. Britain may be getting a glimpse of what could spark the next run on a bank. A dozen years after client withdrawals brought Northern Rock to its knees, photos of customers — admittedly […].
PYMNTS
MAY 16, 2019
To provide consumers with an immersive way to experience its brand, Taco Bell is launching The Bell: A Taco Bell Hotel and Resort in Palm Springs, California for a limited time this summer. The property’s amenities, from poolside cocktails to guest rooms to breakfast choices, will boast a “Taco Bell twist,” the quick-service restaurant (QSR) chain said in an announcement , which described the concept as a “tacoasis.” Taco Bell ‘s Chief Global Brand Officer Marisa Thalberg said
Chris Skinner
MAY 16, 2019
Things we’re reading today include … Lloyds to start paying quarterly dividends Bitcoin extends losses, down more than 20% to below $6,300 Top banking regulator stresses UK should not be ‘rule taker’ post-Brexit Mifid II critics are not seeing the big picture Metro Bank got there eventually, but this story … The post Things worth reading: 17th May 2019 appeared first on Chris Skinner's blog.
Insights on Business
MAY 16, 2019
In a competitive financial marketplace, banks are turning to incentive compensation management (ICM) solutions for competitive advantage. While the value of motivating employees is indisputable, bankers increasingly recognize the value of going beyond improvised morale building tactics to deploying a structured incentive compensation system. However, making the case to senior bank executives of the need to deploy a sales compensation management solution can be challenging.
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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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