Chris Skinner
OCTOBER 14, 2019
We are regularly being bombarded with unicorn news. Some rise and some fail. We hear about toxic corporate cultures and ousted CEOs on some occasions, with WeWork being the latest to get caught in the pre-IPO crossfire. In case you’re not aware, their CEO and founder has gone and now … The post Is Revolut leading a FinTech revolution … or destroying it?
Payments Dive
OCTOBER 18, 2019
Traditional banks in the U.S. and Europe are picking up the transition to digital banking as they face heightened competition from fintech startups and consumers become more and more comfortable with mobile apps and online sites for routine functions.
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Bank Innovation
OCTOBER 17, 2019
A recent Forbes article claims the fad is over for bank-fintech partnerships. The fad might be over, but the imperative for banks to partner with fintechs is anything but. To be sure, there are valid points highlighting the over-inflated hype versus the reality in making these partnerships fruitful. Nevertheless, in our experience at INV Fintech, […].
Accenture
OCTOBER 18, 2019
The approach banks have taken to revenue growth in the past has largely been focused on becoming the single banking provider of all products for their customers. More recently however, with the introduction of schemes such as the Current Account Switch Service, the rise of challenger banks and the acceleration of Open Banking, this traditional approach is becoming increasingly unworkable.
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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
OCTOBER 13, 2019
Now that’s a contentious title for a blog, but purposefully so. Old banks can compete in the new world if they’re smart … it’s just that so many of them are dumb. Dumb with data, as I’ve blogged before. To illustrate this, I have three examples. The first is that … The post Why dumb old banks can’t compete 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
OCTOBER 16, 2019
Banking technology provider Finastra, which works with more than 9,000 clients, is partnering with payment network Ripple to facilitate real time, blockchain-supported payments for its customers. For Finastra, the tie-up enhances the suite of services it offers its bank clients, while for Ripple, it extends its reach to more institutions. Ripple currently works with more […].
PYMNTS
OCTOBER 12, 2019
The fact that our connected devices are getting to know us pretty well is, by now, well-known. A phone that can unlock a hotel room door. A smartwatch that can call an Uber. A connected car that can not only help the driver find the closest burger joint, but can also order ahead. A voice assistant that can add stuff to a shopping list and then order and arrange for its delivery.
Chris Skinner
OCTOBER 16, 2019
You’ve got to love all these challenger banks (née neobanks née digital banks née mobile banks née whatever banks) appearing. There’s lots of chat about the British ones led by Monzo and closely followed by Starling, Atom and Tandem, but there are many more. In the UK there’s Revolut, Zopa, … The post Some challengers really are challenging … but not where you’re looking appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 18, 2019
With mobile apps poised to become the de facto digital shopping channel, retailers can no longer treat them as an afterthought or merely an extension of the website experience.
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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
OCTOBER 15, 2019
Google Play is banning digital lenders whose products have APRs of 36% or higher, per a Wall Street Journal report Sunday. While the move may be seen as pro-consumer, it’s a sign lenders have more than just regulatory compliance to consider in the evolution of their product strategies. According to the report, the ban affects […].
PYMNTS
OCTOBER 14, 2019
Payroll and human resource management solution provider Paychex has unveiled a range of new solutions and services at the 2019 HR Technology Conference & Exposition event late last month. In a press release , Paychex announced support for wearable technology through the planned debut of a smartwatch app that enables employees to automatically track time worked.
Chris Skinner
OCTOBER 15, 2019
Like quite a few big banks, the Royal Bank of Scotland (RBS) has been messing about with doing digital by launching a number of new initiatives. The two of most note are Bó, a new retail bank, and Mettle, a service for small to medium enterprises (SMEs).* What fascinates me … The post Mister Bó Jangles: the story of yet another new UK challenger bank appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 15, 2019
As banks strive to offer customers good online experiences, they often partner with a variety of fintechs. But how do they ensure that their apps are secure?
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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
OCTOBER 18, 2019
Santander InnoVentures, Santander Group’s fintech venture fund, is leading a Series B investment of 35 million euros ($39 million) in CrossLend, a pan-European digital debt marketplace. Oliver Schimek, CrossLend’s CEO, told Bank Innovation the funding, which was confirmed this week, will support CrossLend’s expansion efforts, building on the 10 markets in which it currently operates. […].
PYMNTS
OCTOBER 16, 2019
There will be 41.6 billion Internet of Things (IoT)-connected devices around the world by 2025. Consumers and businesses have increasingly employed the technology in a variety of use cases as it becomes more sophisticated, from smart cars to sensors that can be utilized for smart cities. The rise of 5G networks will also enable these devices to communicate more data across longer ranges, which is one of the reasons why investment in IoT is picking up.
Chris Skinner
OCTOBER 15, 2019
Things we’re reading today include … The Fed has lightened the load on America’s banks A Nobel economics prize goes to pioneers in understanding poverty Third of biggest banks fail to sign up to climate initiative Bank of England boss says global finance is funding 4C temperature rise JPMorgan earnings … The post Things worth reading: 16th October 2019 appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 15, 2019
As digital channel growth shows no sign of slowing down, it represents a significant revenue opportunity for brands, retailers and other consumer-facing businesses. But what does an effective strategy look like and how can businesses successfully create and execute against it?
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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
OCTOBER 14, 2019
Franklin Templeton is taking a hands-on approach to cultivating startup talent. The San Mateo, Calif.-based investment company launched a startup incubator on Monday, a program through which companies will be matched with Franklin Templeton mentors and work on business ideas relevant to the objectives of Franklin Templeton and its partners. According to Joe Boerio, Franklin […].
PYMNTS
OCTOBER 14, 2019
As the digital economy grows, you can bet that crowdsourcing will become an even bigger part of innovation and disruption, along with hiring and investment — all of which will serve to help build only new companies but vital digital infrastructure. One big recent example in favor of such points comes from Goldman Sachs. A Goldman Sachs program called GS Accelerate enables Goldman employers to pitch their bosses on potential new companies, according to CNBC.
Chris Skinner
OCTOBER 13, 2019
The main blog headlines are … What does “innovation” mean in finance? I recently was invited to be the keynote at some innovation awards in Ireland. It got me thinking about what innovation means in finance, so here are the notes from my speech. I trust it’s useful … … The post The Finanser’s Week: 7th October – 13th October 2019 appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 17, 2019
The cross-border payments market is increasingly complex and creates a series of challenges for ecommerce companies who need to be able to allow customers to pay in the methods they prefer.
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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
OCTOBER 14, 2019
Indian fintech giant Paytm is close to scoring $2 billion of new financing from investors including Jack Ma’s Ant Financial and Japan’s SoftBank Group Corp. to fend off an influx of new rivals, a person familiar with the matter said. The funding will be split evenly between equity and debt and values the country’s top […].
PYMNTS
OCTOBER 14, 2019
Renault has started a public trial of its on-demand car service on the Paris-Saclay urban campus, according to a press release on Monday (Oct. 14). A panel of around 100 people will use the service — provided by two electric, autonomous and shared Renault Zoe Cab prototypes — on the campus from Oct. 14 through Nov. 8. . Two cars with different features will be tested, with passengers able to hail them using the mobile app, Marcel Saclay, which was designed specifically for the ZOE Cab experiment
Chris Skinner
OCTOBER 14, 2019
Things we’re reading today include … Deutsche Bank in strategy shift to address tech woes How Deutsche Bank Hired Its Way to the Top in China Bank/Fintech Partnerships: The Fad Is Over How open banking and bank APIs are boosting fintech growth Britain among most generous nations in the world … The post Things worth reading: 15th October 2019 appeared first on Chris Skinner's blog.
BankBazaar
OCTOBER 14, 2019
If you think that a budget is only for those with a steady income, think twice. Read on to know why a budget is a must for unpredictable income. If you’re a freelancer, a contractor, or even a self-employed professional, you’re probably aware of what we mean by an unpredictable income. Imagine planning your monthly expenses without having an idea of how much you’ll make this month, when you’ll get paid, and how much you’ll earn the next month.
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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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