Chris Skinner
NOVEMBER 26, 2019
Interesting conversation about switching accounts. I’ve had a few people saying that banks don’t have loyal customers, but they have trapped customers. By way of example, an email from a friend: I am just exactly as loyal to my bank as they are to me, which is to say not … The post The real reason people don’t change banks appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 26, 2019
With a shorter window to complete holiday shopping this year, consumers are looking to mobile retail apps to find better deals and get ahead of jammed retail outlets. Mobile wallets could see a resulting benefit as consumers look to make their ecommerce purchases as seamless as possible.
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Bank Innovation
NOVEMBER 26, 2019
The holiday season comes with extra expenses for consumers, and financial companies want to help customers budget. While these efforts highlight financial planning and education, they also serve an important business objective, which is to increase user adoption and engagement on platforms. Peer-to-peer payments network Zelle, which has been active in elevating its brand to […].
PYMNTS
NOVEMBER 27, 2019
The global payments ecosystem’s path to faster and real-time payments ubiquity is an evolution, not a revolution. That is to say, mass adoption will take time, and the factors driving that adoption will almost certainly continue to change and shift as end users’ needs do the same. Among corporates, there is an increasing demand that their global payment activity is able to keep up with the pace of doing business.
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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
NOVEMBER 25, 2019
I picked up a few innovative changes taking place this week within banks. In fact, I should point out that banks are not static beasts, as many claim. They are changing all the time, doing things all the time, adapting all the time. The question is: are they adapting in … The post Are banks adapting in the right way? 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
NOVEMBER 25, 2019
Personal finance, banking and investment platform MoneyLion has named Samantha Roady chief operating officer as it makes moves to expand its customer base. Roady, who has been on MoneyLion’s board of directors since 2016, was previously a founding partner at GAIN Capital and president of its global retail brokerage business. She told Bank Innovation that her […].
PYMNTS
NOVEMBER 25, 2019
Banks and credit unions are certainly not on their way out, even as they face more pressure from challenger banks, FinTechs and Big Tech in the coming decade. Consumers, after all, tend to trust their financial institutions (FIs) to safeguard their money – and the data about their money – and they remain largely satisfied doing business with them. But as a recent Google announcement demonstrated, FIs are engaging with technology players in new ways as together, they seek to create ecosystems tha
Chris Skinner
NOVEMBER 24, 2019
Really interesting interview here with Ana Botin, Executive Chair of Santander, on Bloomberg. It starts with talking about how Santander can make a difference on climate change with Ana claiming that the bank is voted the most sustainable bank in the world. But when the interviewer, Erik Schatzker, asks her … The post Ana Botin of Santander on FinTech and Blockchain appeared first on Chris Skinner's blog.
Accenture
NOVEMBER 26, 2019
Serena Williams has 23 Grand Slam singles titles to her credit and is the most successful tennis player—woman or man—of the Open era. Throughout her 24-year professional career, she’s been known for exceptional comebacks and remarkable determination. At the post-match press conference following her 100th singles win at the 2019 US Open, she said, “When….
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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
NOVEMBER 27, 2019
Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, November 29, 2019. In this episode, Suman Bhattacharyya, deputy editor, and Angely Mercado, associate editor, discuss the following news developments: How MoneyLion’s appointment of a chief operating officer will help fuel its growth plans; The debate among banks and […].
PYMNTS
NOVEMBER 25, 2019
Printing company Vistaprint left an online database containing customer interactions unencrypted, according to a report. A security researcher named Oliver Hough discovered the unprotected database on Nov. 5. He reached out to the company but didn’t hear back. After the report was published, the company quietly took down the database. Vistaprint is owned by Cimpress, a company based in the Netherlands.
Chris Skinner
NOVEMBER 28, 2019
Building on my discussion yesterday about offshore tax havens and decentralisation to avoid governance in both the physical and virtual world, there’s a more fundamental issue at large here. Tax avoidance. Some people hear the words “a tax” and interpret it as “attacks” I heard a figure the other day … The post How much tax is lost each year?
Payments Dive
NOVEMBER 26, 2019
An independent survey from TNS has found that UK consumers are embracing Pay-at-the-pump facilities at petrol stations and keen to try new value added secure commerce offerings at the pump. Download this infographic to discover the findings of this research.
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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
NOVEMBER 26, 2019
Japan’s measures for encouraging the spread of cashless payments will likely need more funding beyond the end of March and could be extended as part of a planned government stimulus package. The International Monetary Fund recommended Monday that Japan consider lengthening the time frame of its measures to support consumption after an October sales tax […].
PYMNTS
NOVEMBER 25, 2019
Sweden-based Detectify, a crowd-based online security company that incentivizes “elite hackers” to help developers stay abreast of security issues, has raised €21 million in a funding round, according to a report. The funding round was led by London-based VC firm Balderton Capital, with participation by Paua Ventures, Insight Partners and Inventure.
Chris Skinner
NOVEMBER 27, 2019
People were surprised to see a headline that garnered much market shock: Markets Crash after reports that Binances Shangai Office Closed in Crypto Crackdown Argh. Crypto meltdown! I was amused to see a headline that garnered much online mirth: Markets Crash after reports that Binances Shangai Office Closed in Crypto … The post Crypto and banking are one and the same appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 25, 2019
Download this infographic from TNS which explores the results of an independent survey that asked Australians about their opinions and preferences related to purchasing goods and making payments at petrol stations and service stations (servos).
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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
NOVEMBER 26, 2019
More than 2.5 quintillion bytes of data are created every single day. As such, lenders are collecting vast amounts of consumer information and calling it “big data,” a key product to generate insights, support decision making, and enable automation. Access to “big data” gives financial institutions more power over their consumers’ personal information and, in […].
PYMNTS
NOVEMBER 25, 2019
This past year has been difficult for Chinese banks, and the country’s central bank, People’s Bank Of China, said that about 13 percent of the country’s financial institutions were considered “high risk,” according to Bloomberg. . People’s Bank Of China ran a report — its 2019 China Financial Stability Report, published on Monday (Nov. 25) — and found that about 586 banks and financial institutions were highly risky, and in need of some sort of change.
Chris Skinner
NOVEMBER 25, 2019
Things we’re reading today include … Women savers are ‘more loyal to their bank than men’ Bank of America CEO: People still want regulation, security amid tech competition ‘Bank of Mum’ helped fund Prince Andrew’s £13m Swiss chalet Charles Schwab agrees to buy TD Ameritrade for $26bn TSB to close … The post Things worth reading: 26th November 2019 appeared first on Chris Skinner's blog.
Abrigo
NOVEMBER 25, 2019
Key Takeaways A dynamic asset/liability management (ALM) process can inform sound decision-making in both strategy and risk – but not many FIs approach ALM this way. Most FIs outsource their ALM model, rather than using a self-run model. Both have their pros and cons. The majority of FIs report being asset sensitive for earnings and value at risk. Why aren't more FIs using ALM as a decisioning tool?
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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
NOVEMBER 26, 2019
Billionaire Jack Ma’s Ant Financial is planning to raise about $1 billion for a fund that will invest in startups from Southeast Asia to India and help strengthen its foothold in fast-growing mobile internet markets, a person familiar with the matter said. The internet finance company is looking to back more startups in those regions […].
PYMNTS
NOVEMBER 27, 2019
The First Deputy Governor of the central bank of France, Denis Beau, spoke in support of a blockchain-based settlement system that would allow for faster transfers of euros, as well as be more cost-efficient, according to a report by Yahoo! Finance. Beau wants to use distributed ledger technology (DLT), and France is considering a central bank digital currency (CBDC).
Chris Skinner
NOVEMBER 28, 2019
Things we’re reading today include … RBS takes on Monzo with standalone digital bank Bó It’s the end of the World Trade Organisation as we know it Barclays chief Jes Staley could have pension payment cut in half Loan sharks cash in on Black Friday spending spree Antony Jenkins and … The post Things worth reading: 29th November 2019 appeared first on Chris Skinner's blog.
Abrigo
NOVEMBER 25, 2019
Key Takeaways Optimizing loan deal flow involves more than number crunching and processes; don't overlook the human component. Some questions may help identify loan types, industries, and even co-workers who contribute to bottlenecks. Other questions can highlight changes to the work setting that might encourage more efficiency. The human component of optimizing deal flow.
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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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