Payments Dive
DECEMBER 20, 2019
The growing phenomenon of direct, digital banking and Silicon Valley's entry into the payments business are posing a series of challenges to traditional banking institutions. NCR's Doug Brown explores the landscape for 2020 to determine how these trends will impact the global banking business moving forward.
Bank Innovation
DECEMBER 19, 2019
Small business lending company OnDeck is expanding its ecosystem of products. Through its application for a bank charter, the company wants to become a full-service digital bank for small businesses it says are overlooked by traditional banks. In this episode of Fintech Unfiltered, which is sponsored by Blend, Bank Innovation sat down with OnDeck CEO […].
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Abrigo
DECEMBER 17, 2019
Key Takeaways Holiday sales, including Black Friday and Cyber Monday, are aggressively promoted by criminal sellers on the Dark Web seeking to grow sales and customers. The expected outcome of greater inventory at a lower cost, as we have seen in prior years, is an increase in fraud activity and cyberattacks heading into the end of the calendar year.
Chris Skinner
DECEMBER 15, 2019
The UK implemented Open Banking in January 2018 and now, almost two years later, you would think it’s doing really well. This is why the momentum is building. The Open Banking Implementation Entity (OBIE) shared figures that show there are 49 million data sharing requests monthly, doubling in just seven … The post Why is Open Banking so scary?
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
Payments Dive
DECEMBER 19, 2019
Donna Embry is the SVP of global payment strategies at Evolve Bank & Trust, and she's involved with next-gen on multiple levels. ATM Marketplace spoke with her to learn more about why IADs, in particular, should be paying attention to the project.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
DECEMBER 19, 2019
For PayPal, eyeing growth and eyeing new markets, the gaze is, at least in part, turned eastward. News came Thursday (Dec. 19) that the company has closed its deal to buy a majority equity stake in China’s GoPay (the formal, official name of the company is Guofubao Information Technology Co. Ltd.). The deal had originally been announced at the end of September.
Chris Skinner
DECEMBER 17, 2019
I write about a lot of things. Around three-quarters is focused on finance and technology, but the rest meanders around life, taxes, government, the economy, global trade, regulatory matters and more. All of these latter areas can probably be summed up right now as: INTERNET ANGER No, I’m not angry … The post Big Government versus Big Tech appeared first on Chris Skinner's blog.
Payments Dive
DECEMBER 17, 2019
Despite the plethora of payment choices we have today, many of us are still using our debit cards. Carol Specogna, Fiserv's VP of card services, gives an overview of the market and talks about new technologies that FIs can leverage to boost their debit card revenue.
Bank Innovation
DECEMBER 18, 2019
As large tech and payments companies bail on Facebook’s Libra digital currency project, Federal Reserve Governor Lael Brainard Wednesday highlighted key risks that have yet to be mitigated, including the safety and security of consumer money flowing through Libra’s transaction rails. Speaking in Frankfurt at a conference hosted by the European Central Bank, Brainard noted […].
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Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.
PYMNTS
DECEMBER 19, 2019
Savor this moment — these coming weeks, the next few months, the year or two that will follow. These are the last moments before artificial intelligence (AI) really starts to have a massive impact on one’s daily life, before the world really turns to AI. That is not meant to be mournful, or an expression of grief for a way of life — a non-AI way of life — that is on its way out.
Chris Skinner
DECEMBER 19, 2019
So it’s the holiday season and time for some time off. I’m back on January 6th 2020. The only thing I can say is … here’s to a fantastic 2020 … the year of Doing Digital. “Stop what you are doing and read this book. It will transform your … The post Have Yourself a Merry FinTech Christmas appeared first on Chris Skinner's blog.
Abrigo
DECEMBER 19, 2019
Key Takeaways To book loans more quickly, institutions must create efficiencies and increase loan turnaround. Institutions must be proactive in effectively pricing loans. Looking to mergers and acquisitions, institutions can expand into new areas of business or geographic markets. The new year is just around the corner, and with that comes new goals and resolutions.
Bank Innovation
DECEMBER 16, 2019
Lara Briehl had a desperate client who was itching to accept an offer. The man was struggling to pay his bills, and an online lender had offered him a personal loan to pay off some 10 credit cards. Accepting, he thought, would help him escape crushing debt. The interest rate offered, however, was about 10 […].
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Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.
PYMNTS
DECEMBER 16, 2019
With the U.K. one of the largest FinTech hubs of the world today, initiatives like Open Banking demonstrate the opportunity for regulatory mandates to encourage innovation and competition — even in markets where such regulatory mandates don’t exist. The capabilities to unlock bank data and integrate new services into emerging FinTech platforms via API integrations is a FinTech trend that hasn’t ignored the B2B payments arena.
Chris Skinner
DECEMBER 16, 2019
Things we’re reading today include … $5 billion flee Hong Kong funds amid unrest Australian regulator investigates Westpac directors, executives after scandal Banks have learnt their lesson on risk management Will the UK really turn into ‘Singapore-on-Thames’ after Brexit? Goldman Sachs says it will support ‘green’ initiatives more forcefully Westpac … The post Things worth reading: 17th December 2019 appeared first on Chris Skinner's blog.
Abrigo
DECEMBER 16, 2019
Key Takeaways An SEC filer with a 2020 CECL deadline recommends starting ASAP on implementation -- even if your deadline is 2023. Assess data before selecting your methodology or methodologies. Be willing to change as needed. . All eyes will be on the large SEC registrants in January as they become the first financial institutions to adopt the current expected credit loss model , or CECL.
Bank Innovation
DECEMBER 20, 2019
The popular refrain in the industry is “innovate or die,” but community banks face added obstacles resulting from the costs and structural limitations of working with core tech providers. A recent Bank Director survey of industry executives found that just 21% were “completely satisfied” with their core providers, and among institutions with $500 million to […].
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Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.
PYMNTS
DECEMBER 20, 2019
Security researcher Bob Diachenko and Comparitech discovered that a Facebook database with 267 million user IDs, phone numbers and names was left unsecured and accessed by hackers, who uploaded it to a downloadable format, according to a report. . Diachenko said he thinks the breach is because of an illegal bot scraping operation or even criminals who figured out how to abuse Facebook’s API.
Chris Skinner
DECEMBER 17, 2019
Things we’re reading today include … Deutsche Bank Considers Cutting Bonus Pool by as Much as 20% UBS/the wealthy: Khan-do spirit Another Credit Suisse senior manager was followed: NZZ Duty of care should protect elderly from online fraud, trust warns ‘Gutsy’ Scot in line to be first female boss of … The post Things worth reading: 18th December 2019 appeared first on Chris Skinner's blog.
Accenture
DECEMBER 20, 2019
It was our honor to represent Accenture at the 2019 Leasing Life Convention in Barcelona and facilitate the panel on data. Reflecting on this year’s event, we have seen these emerging trends: Players are going beyond their current role as financiers of the economy and actively moving into sustainability at scale. As an example, BNPP…. The post News from Leasing Life appeared first on Accenture Banking Blog.
Bank Innovation
DECEMBER 19, 2019
The Federal Reserve is investigating the second significant disruption in 2019 of a payments service administered by the U.S. central bank. Certain bank transactions were delayed after ACH — which stands for the automated clearinghouse system — experienced delays but it is now up and running. “The FedACH service, which processes transactions for commercial banks, is currently […].
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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.
PYMNTS
DECEMBER 16, 2019
In financial services, access to data is, well, everything. Financial institutions, of course, use data to create new products and services to cement customer loyalty. FinTechs can use data to leapfrog FIs in their own arms race to develop new offerings and gain mind share and wallet share. Might the withholding of data be a strategic weapon? The Wall Street Journal reported this weekend that FinTech firms have been accusing banks of blocking access to end users’ financial data.
Chris Skinner
DECEMBER 15, 2019
Things we’re reading today include … Bank accidentally puts $37MILLION into woman’s account Meet the biggest bank you’ve never heard of Sustainable investors face squeeze as larger firms move in Goldman Sachs to stop financing new drilling for oil in the Arctic Nuns take on BlackRock over climate change UK … The post Things worth reading: 16th December 2019 appeared first on Chris Skinner's blog.
Accenture
DECEMBER 19, 2019
Accenture’s ground-breaking 2019 Global Financial Services Consumer Study has seen four mindsets emerge from the data: Pioneers, Sceptics, Traditionalists and Pragmatists. In this series of blog posts, we’ll look at each type in the Australian context.¹ The global view As you might expect, Pioneers are typically younger than the average respondent (globally, half are aged….
Bank Innovation
DECEMBER 16, 2019
Virgin Money is making a play for the mass affluent. The brand released a new current account for U.K. customers last week, the first product launched by the bank since it was acquired by CYBG in 2018. With its mixture of personal finance management tools, savings features and remodeled branches, Virgin Money is aiming for […].
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In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest. Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In this eBook from ZoomInfo & Sell Better, learn 10 actionable ways to use these buyer signals to transform your sales strategy and close deals faster.
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