ABA Community Banking
FEBRUARY 6, 2020
Have you heard about the community bank that’s been chugging along for over 150 years, took on “Community Bank” as its name—and “bank happy” as its motto? Meet Community Bank, N.A., based in DeWitt, New York. The post When a Community Bank Expands Beyond Its Community appeared first on ABA Banking Journal.
Ron Shevelin
FEBRUARY 3, 2020
The truly “hot” technologies in banking are the ones that financial institutions invest in—which are not always the ones that the pundits are talking about.
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ATM Marketplace
FEBRUARY 4, 2020
So, does the decline in the number of ATM withdrawals over the past few years portend a more rapid decline in the use of cash? Short answer — no!
PYMNTS
FEBRUARY 7, 2020
Careers in music, filmmaking or even YouTube video essays can be daunting and have few financial incentives, causing many young creatives to give up on their dreams so they can make ends meet. Content membership platform Patreon aims to ease these professionals’ financial stressors, enabling them to find success as creators. The company’s origins date to 2011, when Founder Jack Conte uploaded a high-concept music video to YouTube.
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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
FEBRUARY 6, 2020
I often talk about how banks have five times more regulation than technology firms. That stat comes from Bank of America Merrill Lynch who published this chart a while ago: This is confirmed by similar charts, such as this one from Benedict Evans, a Partner at the firm Andreessen Horowitz, … The post RegTech versus TechReg 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
FEBRUARY 4, 2020
As digital challenger banks expand their product suites, large players like HSBC are quickly evolving their digital offerings to attract and retain customers. The bank recently rolled out a digital personal loan product, a high-yield savings account and Treasury APIs to speed up payments for business clients. Later this year, the bank will launch a robo-adviser and new domestic and cross-border payments products, […].
Accenture
FEBRUARY 7, 2020
Banks occupy a privileged and trusted position. Social media companies may have insight into what is attracting our attention, but banks can see what people are willing to pay for. Accessing this source of Big Data is simply the latest way for banks to deliver on their core promise: to listen to customers, create a…. The post The growth of data in banking is unstoppable appeared first on Accenture Banking Blog.
Chris Skinner
FEBRUARY 3, 2020
I was taken in by an article on the BBC yesterday due to the headline: ‘I wasn’t allowed to buy my burrito with cash’ The article recounts the story of Nicholas Duggan, a construction worker, who tried to buy his lunch with cash, but the store refused and demanded payment … The post Cashless shopping is not going to happen anytime soon appeared first on Chris Skinner's blog.
Payments Dive
FEBRUARY 6, 2020
The e-commerce market in Latin America presents enormous potential for retailers. Despite the possibilities, there are a number of unique challenges that retailers and payments companies need to be aware of before making such a commitment.
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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
FEBRUARY 5, 2020
While the hype around chatbots and digital assistants may have reached a crescendo years ago, banks and the technology companies serving them are now investing in the “brains” behind digital conversational assistants, which can be applied across many use cases, including chat and voice. New York-based Kasisto, a conversational AI company which developed the banking […].
PYMNTS
FEBRUARY 5, 2020
Looks like the digital advertising and marketing sectors are in for a reckoning. How that will affect merchants’ online promotional activity hangs in the balance. That’s the scoop as 2020 opens, with privacy skirmishes turning to full-scale war on browser cookies. As we know, mostly anonymous corporations have been collecting consumer data online for years, usually without explicit permission, selling it or using it for ad retargeting and personalization.
Chris Skinner
FEBRUARY 4, 2020
I was going to give up writing anything further on Brexit as it’s now done and dusted. Britain’s out of Europe. There was no major celebration however. I was in London last Friday night, and this is what I saw out of my hotel window as we exited. EU Day … The post #Brexit is done, but the deal-making isn’t … and finance is at the heart of it appeared first on Chris Skinner's blog.
Payments Dive
FEBRUARY 4, 2020
In an interview with Retail Customer Experience, Elastic Path Chief Strategy Officer Darin Archer details the importance of deploying flexible e-commerce systems.
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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
FEBRUARY 6, 2020
Seattle-based remittance startup Remitly is expanding beyond money transfers to a full suite of banking products for new arrivals to the U.S. The company this week launched Passbook, a bank account for immigrants that relies on foreign identity documents to help customers open accounts. “Where we have differentiation is being able to provide the trust […].
PYMNTS
FEBRUARY 7, 2020
Almost two years after its experimental run, the Facebook-owned messaging service WhatsApp has received regulatory approval for its WhatsApp Pay platform in India. The National Payments Corporation of India (NPCI) provided the firm with permission to put WhatsApp Pay into operation in a phased manner, The Business Standard reported. . The NPCI’s green light comes after approval from the Reserve Bank of India (RBI).
Chris Skinner
FEBRUARY 5, 2020
Things we’re reading today include … RBS’s digital bank Bo tells customers to shred their cards Starling hits 100,000 business customers as SME banking hots up UniCredit cuts further its stake in Turkey’s Yapi Kredi Barclays faces fresh investor revolt over fossil fuels What the City needs from an EU … The post Things worth reading: 6th February 2020 appeared first on Chris Skinner's blog.
Payments Dive
FEBRUARY 6, 2020
Grubhub Founder and CEO Matt Maloney and CFO Adam DeWitt penned a letter to shareholders as part of the food delivery firm's quarterly earnings report, touting the progress made by expanding from 150,000 to 300,000 participating restaurants.
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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
FEBRUARY 6, 2020
Ally Bank is taking a page from fintech startups by rolling out auto-save features to encourage better money habits among its customer base. This week, the digital bank rolled out Buckets, or digital savings envelopes; and Boosters, which are automated contributions to savings accounts that can be tied to any U.S.-based checking account, even if […].
PYMNTS
FEBRUARY 7, 2020
Cross-pollination in financial services — leveraging payments across digital and physical channels — is an emerging trend, especially when it comes to cross-border transactions, and especially with remittances. To that end, MoneyGram has received a $9 million investment from The Brink’s Company, which in turn becomes a significant owner with a roughly 5 percent stake in MoneyGram.
Chris Skinner
FEBRUARY 6, 2020
Things we’re reading today include … AMP fined $5m for allowing financial advisers to rip off clients Overdrafts: A guide to your changing bank fees Exclusive: Goldman Sachs to raise $8 billion for new buyout fund – sources What the coronavirus means for financial markets ING hit by sharp rise … The post Things worth reading: 7th February 2020 appeared first on Chris Skinner's blog.
Payments Dive
FEBRUARY 5, 2020
Matt Tyler, director of IoT, Wachter, discusses how the network technology integrator identifies the turnkey solution that works to address the challenges retailers face in attracting new customers.
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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
FEBRUARY 5, 2020
Majority, a digital banking platform aimed at immigrant communities, launched to U.S. consumers this week after a four-month beta test. To expand its reach, Majority is relying on two drivers: physical meetup spaces and brand ambassadors, since it has no branches. “If you want to build a successful business focusing on these communities, you […].
PYMNTS
FEBRUARY 4, 2020
Visa has announced that it will sell cross-border payments company Earthport’s foreign exchange (FX) business to Pollen Street Capital’s Currency Holdings, according to a report. Visa, which acquired Earthport in May 2019, said the sale will help to speed up Earthport’s growth of its larger core payments business. Earthport FX, which provides foreign exchange services to businesses and individuals, will work better as a core part of Currency Holdings, the company said in a filing with the London
Chris Skinner
FEBRUARY 4, 2020
Things we’re reading today include … City banker suspended for ‘stealing food from canteen’ Jeffrey Epstein’s Mystery Bank Came Alive After His Death Is modern banking too complex for challenger banks? China May Ease Shadow-Bank Crackdown to Bolster Slowing Economy N26 is building a better bank EY hit with €95m … The post Things worth reading: 5th February 2020 appeared first on Chris Skinner's blog.
Payments Source
FEBRUARY 6, 2020
Barclays, in an effort to counter digital fintechs in omnichannel merchant acquiring, is working with BigCommerce to offer multichannel transactions enhanced fraud detection to its nearly 60,000 merchants online and improve fraud detection.
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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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