Payments Dive
OCTOBER 22, 2019
Chime Bank is recovering from its third system outage since July, and this most recent incident is serving as a wake-up call for many in the industry about the vulnerabilities of managing critical financial services in a digital-only environment.
Bank Innovation
OCTOBER 24, 2019
Over the past 10 years, the landscape of the financial services industry has dramatically evolved. Technology and the rise of fintechs have called into question almost every traditional banking model, requiring banks to either adapt or be left behind. In today’s digital age, some banks have been slow to innovate or to create a more […].
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Abrigo
OCTOBER 21, 2019
A farmer, a university student, and a business owner walk into a bank. It sounds like the beginning of a joke, but for many community financial institutions, a spectrum of different customers and banking needs is something that they see every day. However, they’re probably seeing fewer of these customers walking into a physical branch. Today, 73% of all consumer interactions with financial institutions are done digitally , according to the 2019 FIS Performance Against Customer Expectations (PACE
Chris Skinner
OCTOBER 22, 2019
Sometimes you debate stuff and a realisation comes. I had one of these today. When futurists talk about the future, they generally based their opinions on forces of change, known colloquially as PEST. Political, Economic, Social and Technological change. So I was having this debate with a friend about the … The post Why decentralised currencies are a PEST!
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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.
Payments Dive
OCTOBER 24, 2019
Facebook chairman and CEO Mark Zuckerberg endured withering and often painful questioning as he tried to convince House members that the effort to develop Libra into a global digital currency could provide significant benefits to millions of underbanked consumers.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
South State Correspondent
OCTOBER 21, 2019
BANK MARKETING Few bankers doubt the power of great storytelling. Instead of advertising, many banks have evolved into showcasing a customer, employee, or creative narrative that walks the reader to some point of conflict and then tells of a resolution. A story gets the reader or listener emotionally connected to the bank in ways that traditional, single message advertising can’t.
Chris Skinner
OCTOBER 20, 2019
I’ve been noticing that there are more and more issues arising with the big internet giants. Unlike in China, where the companies are working with governments, the big Western giants work outside government control. That creates issues, particularly in Europe where government does not like to be out of control. … The post Google versus Government appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 25, 2019
While fintechs have introduced new innovations to a staid industry, traditional FIs possess great assets that could allow them to surpass the success of fintechs.
Bank Innovation
OCTOBER 21, 2019
Santander Bank has rolled out Santander Cash Nexus, a payments tool solution for the bank’s commercial, corporate and investment banking clients in North America. The new platform offers Santander clients a suite of international connectivity and provides local payment initiation and information reporting services in several markets around the world via a single point of entry. […].
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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
PYMNTS
OCTOBER 21, 2019
There is no shortage of products designed to appeal to conscientious consumers, or marketing terms aiming to draw them in. Green, sustainable, locally sourced, fair trade, clean, socially conscious, cruelty-free – buzzwords that two decades ago were rarely seen on store shelves have become increasingly commonplace, particularly among direct-to-consumer (DTC) brands looking to capture the spend of the eco-minded shopper.
Chris Skinner
OCTOBER 24, 2019
Following on from the discussion of payments in the cloud, I was recently asked by Volante Technologies to consider what being a digital bank means for a commercial bank’s payments and treasury services and identified three areas of focus: moving payments to the cloud; fast-tracking real-time / instant payments adoption; … The post The Digital Corporate Bank, Part Two: Real-time Payments appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 25, 2019
ATMIA CEO Mike Lee sits down at ATMIA Europe in Rome for a conversation about the war on cash and the future of mobile banking, bitcoin and ATMs.
Bank Innovation
OCTOBER 25, 2019
American Express is using credit reporting startup Nova Credit‘s technology to underwrite newcomers to the U.S., the companies announced Friday. With no financial history in the U.S., newcomers face difficulties accessing credit. American Express claims to be the first U.S. payments company to offer immigrants the opportunity to acquire U.S. credit scores, based an analysis […].
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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.
PYMNTS
OCTOBER 23, 2019
There is only so much time in a day to watch programming and only so much monthly budget to devote to food delivery services. Has the subscription commerce market reached saturation? The real question may be which of the many current and planned subscription services will come out on top. Last week, Netflix released earnings that were fairly positive.
Chris Skinner
OCTOBER 23, 2019
I’ve avoided any commentary on Brexit in recent times, as it seemed to be going nowhere. Finally, just ten days before deadline, the House of Commons voted that a deal could be done … just not in the deadline given. So, it now looks like 31st January, 2020. Maybe. The … The post What’s the latest on #Brexit in banking then? appeared first on Chris Skinner's blog.
Insights on Business
OCTOBER 23, 2019
This is a great moment for IBM. IBM OpenPages with Watson has been named one of the 2019 Gartner Peer Insights Customers’ Choice for Integrated Risk Management Solutions. We are incredibly proud of our customers continued input into our offering, especially in our most current release of OpenPages with Watson v8.1 as discussed in my previous blog. Their contribution in our “innovating in the open” approach is part of the reason we received this honor.
Bank Innovation
OCTOBER 22, 2019
Across the U.S., banks and credit unions continue to face digital disruption. As mobile banking usage surges, branch visits continue to decline. A BI Intelligence study found that mobile banking is nearing ubiquity, with usage topping in at 83 percent. As banks and credit unions improve their online experience and make banking features more readily […].
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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
PYMNTS
OCTOBER 24, 2019
Mastercard is introducing a Data Responsibility Imperative to spark a conversation with other companies about data security, Mastercard said in a press release on Oct. 24. Mastercard wants organizations to work together to heighten privacy and fend off cyberattacks. The initiative depends on coming up with fundamentals to direct how data is used. It is based on the premise that businesses have a responsibility when it comes to data management. .
Chris Skinner
OCTOBER 21, 2019
Banks are control freaks. I’ve blogged about that often. I’ve also blogged often about how they need to move to be open and partnering. That’s not easy. It’s obviously easier to launch a brand new bank, fresh with no legacy and open to everything, isn’t it? Not necessarily so. The … The post For Whom The Tweet Chimes: the problems of being cloud native and open appeared first on Chris Skinner's blog.
Ron Shevelin
OCTOBER 20, 2019
It’s admirable that many fintechs aim to be altruistic and want to address social issues. But so do thousands of credit unions and community banks.
Bank Innovation
OCTOBER 25, 2019
Jane Fraser ascended to the No. 2 job at Citigroup, putting her in position to succeed chief executive officer Michael Corbat and become the first woman to lead a major U.S. bank. The behemoth lender on Thursday named Fraser as president and handed her responsibility for consumer banking, one of its thorniest turnaround efforts in […].
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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
OCTOBER 25, 2019
FinTech firms are keeping a pulse on how merchants retain their customers — and how they can help them with those strategies through technology. One of the ways organizations such as airlines keep customers returning, Modo CPO Ryan Lee told PYMNTS in an interview, is through a robust loyalty program. However, making loyalty a currency or allowing it to be a method of tender, he said, “is quite complicated.
Chris Skinner
OCTOBER 19, 2019
The main blog headlines are … Talking ’bout my generation I was reflecting on things again. Dangerous. My reflection was on when I grew up. My mum and dad went through the second world war. They feared for their lives and for our future. There was no Europe, just a … The post The Finanser’s Week: 14th October – 20th October 2019 appeared first on Chris Skinner's blog.
Jack Henry
OCTOBER 23, 2019
I live in the middle of small-town USA. We had a joke in Elizabethtown, Kentucky. When they broke ground on a new building, we’d say it’s either McDonalds or another bank. Well, that used to be the joke. These days, you don’t see many new banks being built. As a matter of fact, there have been more banks acquired in the past five years than built. As a matter of fact, our iPay Solutions™ group is moving into what once was the main corporate branch of First Federal Savings Bank in Kentucky.
Bank Innovation
OCTOBER 22, 2019
Peer-to-peer payments network Zelle is growing transaction volume, according to numbers released Tuesday by its bank-owned network operator, Early Warning Services. According to Early Warning data, Zelle users sent $49 billion through the network during the third quarter of 2019, a 58% year-over-year increase. Meanwhile, users made 196 million transactions during the quarter, representing 73% […].
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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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