Chris Skinner
AUGUST 11, 2019
I received a long and lengthy article last week from Taylor Ryan, CMO at Valuer.ai (tryan@valuer.ai). The link provides a comprehensive article on European FinTech developments. It’s so good that I am happy to share it with y’all. Enjoy. THE BEST FINTECH STARTUPS IN EUROPE Government support for the financial … The post The best FinTech startups in Europe appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 16, 2019
As the payments industry works to get through an 18-month delay in implementing Strong Customer Authentication, retailers and consumers remain vulnerable as criminal fraudsters will likely seek to take advantage of the lull.
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Bank Innovation
AUGUST 16, 2019
When Kalpesh Kapadia moved to the U.S. from India as a student more than 20 years ago, access to credit was a major challenge for him. Without credit, buying car, a home or even signing a lease can seem out of reach. In an effort to solve this problem, Kapadia founded Deserve (formerly called SelfScore) […].
PYMNTS
AUGUST 16, 2019
Delta Airlines Inc. has filed a lawsuit against a firm that powered a chatbot on its website. The lawsuit alleges that [24]7.ai Inc. did not have basic cybersecurity safeguards while it ran a service powered by artificial intelligence (AI) on the carrier’s website last year and in 2017, The Wall Street Journal reported. The suit claims that [24]7 waited over five months to tell the airline about the breach instead of immediately informing it.
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Chris Skinner
AUGUST 13, 2019
I recently attended a FinTech conference where Henry Ma, Vice President & Chief Information Officer of WeBank, presented an update of how the bank is faring in China. For those unaware, WeBank is the offshoot of WeChat Pay, WeChat and Tencent, and focsuses upon financial inclusion in China. This may … The post A bank that runs accounts for just 50 cents a year appeared first on Chris Skinner's blog.
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Bank Innovation
AUGUST 12, 2019
At $6 billion in refinanced student loans, digital lender Earnest is rapidly growing its reach. The seven-year-old company offers student loans and refinancing options, approving more than 50% of refinancing applications within one minute using its proprietary assessment tool. Clients can choose to customize their loan options, such as their monthly payments, and the student […].
PYMNTS
AUGUST 15, 2019
The “online version of a payments terminal” was how the media portrayed Visa ’s acquisition of CyberSource in 2010. Then, it was a very easy way to mentally place the online payments processor in what was at the time a nascent online payments ecosystem. And very nascent it was. At the turn of the 2010s, online commerce was roughly a tiny 4 percent of all retail sales, but growing at nearly a 15 percent annual clip.
Chris Skinner
AUGUST 15, 2019
There are lies, darned lies and statistics. I often quote numbers in my presentations and get pretty annoyed if they’re wrong. I also prefer to take official sources rather than estimates. So I quote that last year China processed USD$40 trillion (277 trillion yuan) of mobile payments, as reported by … The post FinTech’s lies, damned lies and statistics appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 15, 2019
Banks and other financial services organizations will face new challenges in order to match mobile technology and in-person customer service to attract and maintain customers in the Generation Z era.
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Bank Innovation
AUGUST 13, 2019
Challenger banks are the single biggest segment among the fastest growing fintech startups, CB Insights reported Tuesday. According to the latest CB Insights’ State of Fintech Funding report, digital-only challenger banks raised $649 million across 17 deals in the second quarter of 2019. Year-to-date funding for challenger banks reached $2.5 billion, surpassing 2018’s record of […].
PYMNTS
AUGUST 16, 2019
Cross-border payments are expected to surge over the next few years as the economy becomes increasingly global and interconnected. These transactions reached $144 billion in value in 2014 and could hit $240 billion by 2024. The latest Smarter Payments Tracker looks at the infrastructure developments that are making cross-border payment systems faster, more seamless and interoperable.
Chris Skinner
AUGUST 13, 2019
Well, I’ve always thought there’s a few accolades that would be good on the profile. Advisor to the White House, World Bank, World Economic Forum and United Nations all sounds good. Now I can add TEDx Speaker. I was invited to TEDx Athens this year and delivered a short (15 … The post Chris Skinner’s TEDx Talk appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 14, 2019
India’s leading bank leverages FSS Aadhaar Token Gateway to tokenize 5M Aadhaar records and protect customer data against breaches. Learn more!
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Bank Innovation
AUGUST 14, 2019
When Swedish banking firm Klarna became Europe’s most valuable financial technology startup last week, it was only the latest sign that digital finance has escaped the troubles afflicting legacy lenders. Its latest fundraising gave Klarna, which facilitates online installment payments, a $5.5 billion valuation. European fintech companies raised $3.3 billion in venture capital in the first […].
PYMNTS
AUGUST 15, 2019
Citigroup reported that its July credit-card delinquency rate increased to 2.91 percent in July, up from 2.56 percent in June. The lender’s three-month average is 1.54 percent, with a net charge-off rate of 2.91 percent, an increase from 2.56 percent in June, reported Seeking Alpha. The three-month average is 2.74 percent. According to the SEC paperwork, the total delinquency amount in July stood at $36,401,205,805.
Chris Skinner
AUGUST 14, 2019
Who wants transparency when you can have magic? Do you watch The Crown? If not, maybe you should as Series 3 is about to begin with Olivia Coleman, a great actress. The first two series weren’t bad either, with Netflix spending $130 million on the season (around $10 million per … The post Is transparency a good thing? appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 15, 2019
Cash is still king when it comes to buying things like a cup of coffee, pack of gum or a pint of beer in the U.S. Why? Because it's faster and often more convenient, especially when it comes to the little stuff.
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Bank Innovation
AUGUST 14, 2019
Wirecard, a Germany-based payments firm that works with brands and retailers, recently launched its first U.S. mobile application in an effort to expand its reach across the Atlantic. The 20-year-old publicly-traded company, which recently reported consolidated revenues of $1.3 billion for the first half of this year, processed more than $6 billion in transactions during that […].
PYMNTS
AUGUST 16, 2019
Mobile order-ahead apps are becoming more and more popular among quick-service restaurants (QSRs), and many eateries are turning to loyalty and rewards programs to encourage customers to make return visits. They’ve been well-received by both QSRs and customers, with PYMNTS’ Restaurant Readiness Index finding that nearly 80 percent of both groups report having positive experiences with loyalty programs.
Chris Skinner
AUGUST 10, 2019
The main blog headlines are … Eyes wide open I sat through a soul-destroying meeting the other day. The meeting was with a C-level decision maker in a bank, and we were brainstorming. Ideas were flowing and, at the end of the ideation process, we went to see the C-level … The post The Finanser’s Week: 29th July – 11th August 2019 appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 12, 2019
Major banks in Mexico reported problems processing debit and credit card payments on Saturday. The problem stemmed from a Prosa data center outage.
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Bank Innovation
AUGUST 12, 2019
HSBC launched a digital personal loan product for U.S. consumers on Monday in an effort to improve the efficiency of the underwriting process and respond to customer demand for a digital personal loan option. The global banking giant is using tech company Amount‘s platform to support the digital loan product. “This was important for us […].
PYMNTS
AUGUST 14, 2019
Paige A. Thompson , who has been accused of hacking into Capital One ’s cloud and compromising the data of 100 million people, may have also hacked into upwards of 30 other companies, according to a Bloomberg report. Thompson was arrested in July and has a past that includes threatening the lives of others and saying she would commit “suicide by cop,” according to information filed in court on Tuesday (Aug. 13).
Chris Skinner
AUGUST 12, 2019
Things we’re reading today include … German financial sector ‘expects No Deal’ and wants no more concessions from EU Could devaluation of China’s yuan trigger the next financial crisis? | Larry Elliott Investment bank job cuts are now a one-way street Digital challenger banks stockpile cash at record rate African … The post Things worth reading: 13th August 2019 appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 12, 2019
As criminal activity evolves, the challenge is on for companies to keep pace with the latest data breach threats. Download this infographic from TNS which looks at the challenges organizations are facing when developing and evolving their security plans.
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