Bank Innovation
JANUARY 12, 2020
Payments giant Mastercard launched a new augmented reality (AR) app this month that lets cardholders get a bird’s-eye view of their benefits. It’s a move that the company hopes will drive engagement and loyalty, and add value to the offerings of its partner financial institutions. “At Mastercard, we’re using our technology and solutions to deliver multisensory […].
Chris Skinner
JANUARY 15, 2020
It’s a simple question: what is the purpose of a bank? However, the answers I get are often missing the mark, imho. I get answers like to fund business, to finance progress, to support government, to keep economies stable, to manage risk, to build communities, to allow people to be … The post What is the purpose of a bank? appeared first on Chris Skinner's blog.
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Payments Dive
JANUARY 17, 2020
The use of facial recognition hardware in mobile devices is expected to surge in the next few years, reaching more than 800 million devices by 2024. Facial recognition software however will still dominate.
PYMNTS
JANUARY 14, 2020
In financial services, demand for ease of use and security are sky-high, even for business customers. But for many service providers, achieving one can often mean compromising the other. Payments and financial service providers are facing an even greater challenge in balancing these two capabilities in the age of open banking and cloud migrations, with more opportunities than ever before for sensitive company and customer data to be compromised.
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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.
Bank Innovation
JANUARY 15, 2020
The biggest U.S. card companies just moved a step closer to gaining access to China’s $27 trillion payments market. China said it won’t take longer than 90 days to consider applications from providers of electronic-payments services such as Mastercard, Visa and American Express Co., according the text of a landmark trade agreement with the U.S. […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Jack Henry
JANUARY 15, 2020
When was the last time you took a roll of camera film to be developed? How about taking out a phone book to look up a number? When was the last time you bought a CD or LP of your favorite band? Physical music (CDs, records, cassettes), camera film, print media (phone books, encyclopedias, newspapers), pay phones, and landline phones. These are just a few examples of items used frequently for more than 100 years that are now virtually gone within the past two decades.
PYMNTS
JANUARY 12, 2020
The mPOS landscape got more interesting today (Jan. 12), as Samsung has unveiled its Galaxy XCover Pro, an enterprise-grade smartphone that comes pre-installed with Visa’s Tap to Phone app. Tap to Phone enables sellers with Android phones to accept contactless payments without the need for additional devices or peripherals. The evolution of commerce comes down to a single but powerful word: acceptance.
Bank Innovation
JANUARY 13, 2020
Visa Inc. grew into one of the world’s most valuable financial companies by serving as the pipes that help connect banks and merchants. Now, it’s making a major bet on doing the same for data between banks and financial startups. Visa agreed to pay $5.3 billion for Plaid, a fintech firm that connects popular apps […].
Chris Skinner
JANUARY 14, 2020
I just spent time with a bank talking about Doing Digital. The host had read a preview copy of my new book and was asking a few questions about it. What had surprised me the most in my talks with five banks? What lesson was the most important one I … The post Bye-bye FinTech appeared first on Chris Skinner's blog.
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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
Bobsguide
JANUARY 14, 2020
Insurance firms may be turning away from in-house tech solutions and focusing on external partnerships according to market participants and industry bodies, as internal capabilities falter. “Aviva has set up its Digital Garage, so that’s moved quite quick and got quite a lot of.
PYMNTS
JANUARY 13, 2020
It was a difficult week for businesses getting hit with cyberattacks, with foreign currency company Travelex among the most high-profile of recent cases. The currency exchange company continues in the grips of a ransomware attack that has crippled its operations, as well as the foreign currency operations of its corporate clients, including HSBC and Barclays.
Bank Innovation
JANUARY 15, 2020
Despite advances in banking and personal finance technology, paying credit card bills in a simple, time-efficient way is still a pain point for many consumers. According to recent research, 37% of U.S. households revolved credit card debt from month to month last year. Now, loan startup Upstart and Cross River Bank are adding automation to the process through a direct credit card payoff feature they debuted last […].
Chris Skinner
JANUARY 16, 2020
Things we’re reading today include … Why Goldman Sachs is playing catch-up with JPMorgan BlackRock says it wants to do more for the climate Former Barclays boss accused of ‘funnelling funds’ to Qatar Economists explore the consequences of steering technological progress Santander heir gets £44m fine for trying to smuggle … The post Things worth reading: 17th January 2020 appeared first on Chris Skinner's 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.
Ron Shevelin
JANUARY 13, 2020
Large banks offer more mobile banking features than smaller banks--and that attracts and keeps Millennials.
PYMNTS
JANUARY 13, 2020
As 2020 gets into full swing, artificial intelligence (AI) is in a peculiar position. It’s like that cool new kid everyone knows is coming to the party but has yet to show up. You can bet on its arrival during the 2020s though — at least according to the message sent as part of the latest PYMNTS Masterclass with Brighterion , an AI-focused company owned by Mastercard.
Bank Innovation
JANUARY 14, 2020
Commerce platform Shopify, which supports the operations of more than a million merchants, has launched a loan product for early-stage U.S. businesses. Shopify, which has been offering loans through the Shopify Capital program to merchants on its platform since 2016, is rolling out starter loans to support businesses at their earliest stages of development, explained […].
Chris Skinner
JANUARY 12, 2020
I often written about how the developing world is leap-frogging the developed world. The reason is that the developing world had no infrastructure in place whilst the developed world implemented their infrastructure in the last century. The developed world has become a legacy world. The developing world is a world … The post China and India in 2020: Watch and Learn appeared first on Chris Skinner's blog.
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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
Bobsguide
JANUARY 16, 2020
Banks to expand their use of analytics, according to Alex Kwiatkowski, principal industry consultant at SaS’ global banking practice. “[Banks] have not yet realised the full potential of analytics,” says Kwiatkowski. “They may have analytics in siloed areas, perhaps on.
PYMNTS
JANUARY 14, 2020
Canadian eCommerce platform Shopify is helping people start online businesses with an initial starter loan of $200, Forbes reported on Tuesday (Jan. 14). Loans will be offered through Shopify Capital , giving new merchants $200 when they join Shopify and link a bank account. . “For the immigrant who is new in the country, the student in the college dorm and the mom who has been out of work for awhile the starter loan makes it a little bit easier,” said Kaz Nejatian, vice president and general
Bank Innovation
JANUARY 16, 2020
MUFG Union Bank is on track to move to a cloud core banking infrastructure system within two years, an initiative that will let the bank build and release new products more quickly, the company told Bank Innovation this week. “It’s all about cloud, native cloud and the ability to move data quickly, safely, securely in a […].
Chris Skinner
JANUARY 12, 2020
Things we’re reading today include … Lloyds warns staff to expect first bonus cut in four years Bank of England’s Sam Woods warns of crackdown on the City LSE set to send $27bn Refinitiv deal to EU watchdog May I have a word about… nudniks and quantamental investing | Jonathan … The post Things worth reading: 13th January 2020 appeared first on Chris Skinner's blog.
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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.
Gonzobanker
JANUARY 17, 2020
Year one of the Tech Decade in Banking will bring no shortage of tension between technology investments and earnings targets. Well GonzoBankers, the gang is back to work and we are all headed face-first into 2020 – a year with more uncertainty than most about how things will turn out. So, to get your Gonzo executive brains warmed up for a new year, I offer you 20 important banking realities for 2020 to guide your strategic execution efforts: 1.
PYMNTS
JANUARY 16, 2020
A New York City-appointed panel is seeking a $500 million bailout to help taxi drivers trapped in unscrupulous medallion loans, The New York Times reported on Wednesday (Jan. 15). A group is asking for the creation of a new public-private partnership to take over the debt that the drivers took on to buy medallions — city-issued permits that are required to own cabs. .
Bank Innovation
JANUARY 13, 2020
As retailers seek to increase customer purchase volumes through point-of-sale loans, PayPal is setting itself apart from competition through its brand recognition, the speed of its underwriting process and its relationships with hundreds of millions of consumers. It’s promoting its point-of-sale loan product, PayPal Credit, as a purchase driver for retailers.
Chris Skinner
JANUARY 15, 2020
Things we’re reading today include … Spain’s Banco Sabadell hires IBM for 1 billion euro IT upgrade The fallacy behind passive fund management Chinese financial institutions can cope with foreign competition: central bank Goldman profits slump on 1MDB legal woes US says ‘flash crash’ trader should not face further prison … The post Things worth reading: 16th January 2020 appeared first on Chris Skinner's blog.
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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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