Chris Skinner
JUNE 21, 2018
There’s lots of friction around these days. Banks that get digital and banks that don’t; fintechs that want to change everything and fintechs that don’t; digital currencies to replace fiat currencies and fiat currencies that are going digital; destruction, disruption and disappointment; and more. It just shows the world of … The post The difference between FinTech and TechFin appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 21, 2018
PREMIUM – Every year Bank Innovation assembles a list of 44 innovators that caught our attention in digital banking and fintech. These are the people Bank Innovation believes to be this year’s movers and shakers in the industry, paving the way with forward-thinking technologies and ideas. This year the list contains a variety of innovators […].
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Payments Dive
JUNE 22, 2018
Danny Meyer, Union Square Hospitality Group CEO, recently penned a blog post about why his restaurants will continue to go cashless. But is that really what consumers want?
PYMNTS
JUNE 21, 2018
A connected world is a convenient world for both work and play. Too often, however, the price of convenience is privacy. If data within the Internet of Things (IoT) is not secured properly, it puts people’s overall safety in jeopardy — and it’s not just about loss of sensitive personal data. In fact, according to UL , the even greater threat is that an attacker could take over the functionality of poorly secured devices.
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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 17, 2018
Last week, our good friend Dave Birch posted a great blog about the Amazonisation of Banking, most of which I agreed with. So I asked Dave if I could repost it here and he said “yes, of course” Thanks Dave. Enjoy! The Amazonisation of Banking… …is very different from Amazon being … The post The Amazonisation of Banking 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.
Payments Dive
JUNE 19, 2018
As consumers become more conscious about which companies they share sensitive information with, a Cleveland-based company has launched a mobile person-to-person app that adds a level of anonymity its co-founder and CEO believes is missing from the market.
PYMNTS
JUNE 21, 2018
What’s a currency to do when it can take down the internet ? Gain in price, amid growing clamor for it, of course. No need to trace the minute details of bitcoin’s pricing. $6,500 or $6,600. Maybe more. Maybe less, and maybe a lot more or a lot less. Check back with us in a few minutes! Beyond the vagaries of price — where some watch technicals, looking for a “floor” or a “peak” and signs amid volatility and rolling averages — fundamentals matter.
Chris Skinner
JUNE 18, 2018
The Bank for International Settlements (BIS), the guys who are responsible for Basel regulations and act as the global central bank to all the central banks, caught global headlines yesterday by saying that bitcoin will break the internet. Wowser. I couldn’t ignore this and neither should you so here’s a … The post Cryptocurrencies Fail The BIS Test (bitcoinistas aren’t going to like this) appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 20, 2018
PREMIUM – More U.S. banks are awaking to the idea that supporting realtime payments (RTP) could add value not just to their customers, but to their revenues. A new report titled “2018 Global Payments Insight Survey: Cross-Vertical,” from ACI Worldwide and Ovum released today shows that 86% of banks expect to see improvements in their […].
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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
Payments Dive
JUNE 21, 2018
Bank of America launched three months ago what it calls the first widely available AI-driven virtual assistant of its kind in financial services.
PYMNTS
JUNE 20, 2018
Banks are turning to digital technology to enhance the customer experience — and reduce payment friction — in an effort to boost top and bottom lines. In meetings and calls with analysts last week, executives from top banks such as Bank of America , JPMorgan Chase and Citi — along with payment companies such as Visa — explained how they are leveraging technology to drive innovation.
Chris Skinner
JUNE 20, 2018
We know that there are lots of new bank start-ups out there, particularly in Europe where names like N26, Bunq, Fidor and Monzo stand out. In particular, the UK’s Monzo bank is notable. It is notable for a variety of reasons – the fastest crowdfunding of a new bank, the … The post How new banks differ to traditional banks appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 18, 2018
Should fintech companies with banking ambition get a license or partner with a bank for one? This is an important distinction for a challenger bank, almost an existential question. Berlin, Germany-based challenger bank N26, which has a banking license in Europe, has decided to go with the partnership route for the license in the U.S., […].
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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.
Payments Dive
JUNE 19, 2018
Discover how Pret A Manger increased orders per store, guest frequency and customer acquisition with the launch of their new Level-Up powered app and digital engagement program.
PYMNTS
JUNE 22, 2018
As BBVA steps up its digital efforts, the bank is merging its Beeva and i4S units to form a company called BBVA Next Technologies. The company’s 1,200 tech workers will focus on areas such as artificial intelligence (AI), the blockchain and cloud computing, according to their press release. “BBVA Next Technologies is a company that specialises in emerging and disruptive technologies, that strives to stay ahead of the curve, looks at the future and aims to recruit the best tech talent,” BB
Chris Skinner
JUNE 21, 2018
I sometimes think I’m too harsh on the financial community, with my continual banter about core systems change, lack of digital leadership, inability to see how critical digital is to their future and the impact FinTech is making on global financial structures. I sound like a broken record and rarely … The post Thawing the frozen middle (how to change the bank) appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 18, 2018
INV Fintech, this site’s sister accelerator, announced today a comprehensive rebrand and the launch of an online community. INV’s brand has been completely reimagined with a new logo, color scheme, and website layout that realigns the brand with its profound passion for innovation. In addition to a new, modern design, extensive improvements have been made […].
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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
Payments Dive
JUNE 19, 2018
Understand the key criteria you should consider when choosing a partner to launch your restaurant digital engagement program.
PYMNTS
JUNE 21, 2018
Putting a digital spin on makeup try-ons, L’Oréal is using augmented reality (AR) to enable beauty advisers to virtually put suggested products on a customer’s face as part of a consultation. The feature, which is dubbed Live Makeup Consultation, will launch for L’Oréal’s NYX Cosmetics brand, Retail Dive reported. With L’Oréal’s technology, customers can ask for product recommendations through video chat.
Chris Skinner
JUNE 21, 2018
Things we’re reading today include … Driver of City PR chief Roland Rudd quizzed by insider dealing watchdog The Rich Column: why private bankers need to appeal to millennials US banks pass financial stress tests Bank of England to get sweeping new powers as Chancellor says UK will not be … The post Things worth reading: 22nd June 2018 appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 20, 2018
PayPal made a strong move into the group payments space with the announcement it will purchase Hyperwallet for $400 million. The deal is expected to close in the fourth quarter. Hyperwallet allows for businesses such as Etsy, eBay or Uber to easily make disbursements to multiple merchants or drivers, even across international borders. The company […].
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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.
Payments Dive
JUNE 21, 2018
South Africa is an advanced market with a higher level of financial inclusion than other middle income-countries in Sub-Saharan African.
PYMNTS
JUNE 21, 2018
When you picture a small business owner, who comes to mind? The stereotype may be a young professional beaming at a storefront, or happily servicing a customer at a register. But the fact is, today, there is no single image of a small business owner. There are an estimated 57.3 million freelancers in the U.S., accounting for more than a third of the nation’s workforce, according to stats from Upwork and Freelancers Union.
Chris Skinner
JUNE 17, 2018
The main blog headlines are … Bank reincarnation: the best way to become a digital bank There was an interesting discussion at #Money2020 about Business Reincarnation. It’s a rather dramatic term, especially if you don’t believe in reincarnation, but it does help visualise the idea. Like a Phoenix from the … The post The Finanser’s Week: 11th June 2018 – 17th June 2018 appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 22, 2018
For a long time, expensive underwriting kept banks away from small business lending. But not anymore. The most recent example of a bank taking note of this area is KeyBank’s acquisition of Bolstr’s SMB-focused digital lending platform, which it announced this week. Terms of the acquisition were not disclosed. Founded in 2010, Bolstr is a […].
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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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