Chris Skinner
NOVEMBER 11, 2019
Actually, it’s not just banking. It’s money. Money is about control – something I blog about regularly – and men control societies, economies and the world. Women are subjugated in that world, which is why there is a minority of female founders of FinTech firms and female executives in the … The post Banking is inherently sexist appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 14, 2019
The blockbuster agreement for Citi to integrate its Google Pay wallet with Citi and Stanford Federal Credit Union's mobile checking accounts represents an evolution of Big Tech and traditional banking to offer a mutually beneficial expansion of their digital banking and payments businesses.
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Bank Innovation
NOVEMBER 13, 2019
To Switzerland-based banking tech provider Temenos, a human-centered digital approach will help small institutions compete with large players. Through its acquisition of software-as-a-service provider Kony last August, Temenos added social platform Engage to its toolkit for client banks. Engage features profiles of bankers reminiscent of dating apps, matching customers with associates.
PYMNTS
NOVEMBER 14, 2019
MoneyGram has announced a partnership with Cambodian bank Wing on a digital wallet venture that will allow funds to be deposited directly into customers’ accounts. “With 80 percent of our online transactions being made on a mobile device, we are looking to provide even more options for our customers using our digital platforms,” said MoneyGram President and CEO Alex Holmes.
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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
NOVEMBER 10, 2019
I’ve said for a while that the Big Tech giants will not become banks. Amazon and Alibaba will do a lot of bank-like activities, but they will never move into full-service banking, as in offering deposit accounts. Why won’t they? Because that’s full banking activity which has all of the … The post Big Banks AND Big Tech (not versus) 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
NOVEMBER 11, 2019
The popularity of Amazon Prime and Apple is forcing bankers to rethink user experiences, industry practitioners said at Bank Innovation Build. With the growing adoption of digital banking platforms, user experience specialists said human experiences should underpin digital product roadmaps, with technology performing a supporting role. “Technology is an enabler, but user experience design provides […].
PYMNTS
NOVEMBER 14, 2019
Three billion credit and debit cards. More than 100 billion transactions, worth more than $11 trillion. That’s the payments volume running over Visa ’s global network, a network whose vast global expanse is a tempting playground for cyberthieves. Visa’s cybersecurity team, as Chief Information Security Officer Sunil Seshadri told Karen Webster, also logs as many as 8 billion security events every day — that’s billion with a “b.
Chris Skinner
NOVEMBER 14, 2019
I’ve pointed out many times that it’s easy to scam people online and defraud them. I even once got a phone call from an elderly gentleman asking me if he had really won £1 million on the Financial Services Club lotto. I had to let him down gently. Equally, a … The post Can you recognise a fraudster when you meet one? appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 12, 2019
Ron Delnevo, executive director of Europe at the ATMIA, believes in payment choice. He also thinks independent ATM operators play an important role in keeping cash accessible.
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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
NOVEMBER 12, 2019
Apple Inc. pitches its new card as a model of simplicity and transparency, upending everything consumers think about credit cards. But for the card’s overseers at Goldman Sachs Group Inc., it’s creating the same headaches that have bedeviled an industry the companies had hoped to disrupt. Social media postings in recent days by a tech entrepreneur […].
PYMNTS
NOVEMBER 13, 2019
Nike announced that it is parting ways with Amazon and will no longer sell its products on the eCommerce marketplace, ending a pilot program that began in 2017, The Wall Street Journal (WSJ) reported on Tuesday (Nov. 12). The sneaker and sports apparel company said it is going forge new retail partnerships and concentrate on its direct business. For many years, Nike opted out of an Amazon partnership due to concerns that it would weaken the brand.
Chris Skinner
NOVEMBER 13, 2019
I always like to hear what bankers think about the future of banking – it’s probably more accurate than what janitors or futurists think – and so was pleased to see two items in my in-tray this week, one from HSBC and the other from Wells Fargo. According to the … The post Tomorrow’s bank? What do HSBC and Wells Fargo think? appeared first on Chris Skinner's blog.
Accenture
NOVEMBER 15, 2019
Today, the vast majority in the industry have heard the term Open Banking, but what does it really mean? The answer isn’t as simple as many people might think. In the UK and Ireland, we mostly use the term when referring to regulation introduced on the back of the EU’s PSD2. Globally, however, the term…. The post Open Banking is already here. Open data is just beginning. appeared first on Accenture Banking Blog.
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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
NOVEMBER 13, 2019
Google has partnered with Citigroup Inc. and a local California credit union to offer consumer checking accounts, a person familiar with the matter said. The product will launch in 2020 with Citigroup handling most of the financial and compliance requirements, the person said, asking not to be identified because the project hasn’t been announced publicly. […].
Payments Dive
NOVEMBER 12, 2019
Download this new report which explores the findings of a survey commissioned by TNS among US, UK and Australian adults about their current usage of pay-at-the-pump facilities and their willingness to engage with new technologies and services at the fuel dispenser.
Chris Skinner
NOVEMBER 12, 2019
Just over a month away from Christmas and the festive season is off to a rock and roll start. This week sees the launch of the annual John Lewis schmaltzy advert (see every one since 2006 here) and after six on December 5 sees the lighting of the Trafalgar Square … The post Joy to the World … and Please Pay Me! appeared first on Chris Skinner's blog.
PYMNTS
NOVEMBER 15, 2019
In 2014, it was hard to pick up any article about retail and not end up reading an obituary for the mall. It was the peak of “the mall is dead, the physical store is over” narratives in American media, and the conventional wisdom among the forward-thinking was the future was digital commerce all the way down. That conventional wisdom, b8ta founder and CEO Vibhu Norby told PYMNTS in a recent conversation, was misguided — something that think-piece writers started to realize by 2017 or so.
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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
NOVEMBER 15, 2019
Alberta Investment Management Corporation (AIMCo) is one of Canada’s largest and most diversified investment managers, committed to finding the best investment opportunities from around the world for its clients. To support its strategy of employing innovative, best-of-breed applications via a service-oriented architecture, it has chosen to use Nutanix Enterprise Cloud.
BankBazaar
NOVEMBER 11, 2019
Still using cash for all your daily payments? Here are 5 banes of handling cash that you may be taking for granted. Like dealing your money old school? Well, unlike most music, old school isn’t necessarily a good thing when it comes to money. With the digital world throwing up unlimited possibilities and more secure payment avenues, it only makes sense to dance with the change and embrace modern ways of handling money that are leaps and bounds ahead of hard cash.
Chris Skinner
NOVEMBER 9, 2019
The main blog headlines are … Seven Fin and Tech truisms we wish were myths (with thanks to Anne Boden) I attended the New Statesman’s FinTech Summit yesterday. I gave the opening speech and was followed by the indomitable Anne Boden, CEO and Founder of Starling Bank, who talked about … The post The Finanser’s Week: 4th November – 10th November 2019 appeared first on Chris Skinner's blog.
PYMNTS
NOVEMBER 13, 2019
IoT providers have hit an innovation streak in recent years, utilizing increasingly sophisticated technologies such as artificial intelligence (AI) and data tools like machine learning (ML) to rapidly expand the world of connected things. 5G’s rise will only compound this growth, adding crucial support for future devices. Providers must still keep watchful eyes on their 5G devices’ security measures, according to Sarah Tatsis, vice president of the Advanced Technology Development Labs business u
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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
NOVEMBER 14, 2019
Banks need to embrace new customer acquisition models or risk falling behind, a recent Accenture report argued. The report, titled 5 Big Bets in Retail Payments in North America, examined how banks risk losing payments revenue to technology startups and other non-bank competitors. According to Kevin Grieve, North American lead for Accenture Payments, banks should […].
Payments Source
NOVEMBER 14, 2019
The blockchain has the potential to disrupt any industry sector, leaving in its wake a more effective system where people get to own the value they create, says PayStand's Jeremy Almond.
Chris Skinner
NOVEMBER 10, 2019
Things we’re reading today include … Deutsche Bank tech failings hit thousands of payments UBS wealth management co-head Khan unveils plans to grow business: paper TSB ‘may close up to 100 branches and put 400 jobs at risk’ Apple co-founder says Apple Card algorithm gave wife lower credit limit DWS … The post Things worth reading: 11th November 2019 appeared first on Chris Skinner's blog.
PYMNTS
NOVEMBER 15, 2019
The popular video app TikTok is testing out a new feature that will give certain video creators the option to add links to videos for eCommerce purposes, according to a report by The Wall Street Journal. The move would allow the growing app to earn an additional stream of revenue outside of advertising. Right now, the new feature is only available to a few top creators.
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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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