Payments Dive
SEPTEMBER 26, 2019
Marbue Brown, the head of customer experience at JPMorgan Chase, told attendees at the annual BCX summit that millions of people want a combination of the speed and sophistication of digital banking along with the human interaction and financial wellness provided by a physical bank branch.
Chris Skinner
SEPTEMBER 22, 2019
Building on my recent updates on sustainable finance and such like, it is interesting the word purpose consistently appears throughout the sub-text. Banks need a sense of purpose to attract talent; banks need to shift from shareholder focus to purpose focus; banks must no longer be socially useless but socially useful, … The post The Purpose-Driven Bank appeared first on Chris Skinner's blog.
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Bank Innovation
SEPTEMBER 26, 2019
Citi Ventures, Citbank’s corporate venture arm, is turning to startups that can solve pain points for incumbent banks and financial companies. In particular, it is interested in companies that use data, AI and machine learning to support these approaches, including the identity verification company Trulioo and accounts receivable company HighRadius.
PYMNTS
SEPTEMBER 24, 2019
Financial providers worldwide are working to give small and medium-sized businesses (SMBs) quick access to their funds. Digital banks , for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS). Legacy banks are similarly at work, with one major FI seeking to beat out FinTech competition by offering same-day access to credit card deposits.
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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
SEPTEMBER 27, 2019
Banks have been in the transactional business for far too long, says Jeremy Balkin, head of Innovation at HSBC Bank USA. "We are in the financial services business; service is an experience — and that's not easy for banks to wrap their heads around.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
SEPTEMBER 27, 2019
New York City-based business banking startup Novo is growing its partnership model to attract and retain customers. This week, digital-only Novo integrated with money transfer service TransferWise to allow its clients to send money across borders through Novo’s mobile banking platform. To Novo, which was founded in 2016 and so far has signed on “a […].
PYMNTS
SEPTEMBER 25, 2019
The U.S. House of Representatives passed H.R. 1595, known as the Secure And Fair Enforcement (SAFE) Banking Act, on Wednesday (Sept. 25). The bill was sponsored by Congressmen Ed Perlmutter of Colorado, Denny Heck of Washington, Steve Stivers of Ohio and Warren Davidson of Ohio, all members of the House Financial Services Committee. The legislation aims to ensure that state-authorized and regulated cannabis businesses are not forced to operate with cash only.
Payments Dive
SEPTEMBER 25, 2019
U.S. Bank, Sampath Bank Sri Lanka and First Commonwealth Federal Credit Union won honors during an awards dinner this week at the seventh annual Bank Customer Experience Summit at the Loews Chicago Hotel.
Chris Skinner
SEPTEMBER 23, 2019
During my writing about a purpose-driven bank, I tried to find good examples of what purpose-driven actually means. Googling the question the number one result is from the Plato Project, who outline eight great purpose-driven organisations. The list is: Whole Foods “With great courage, integrity and love,” reads the higher … The post What does “purpose-driven” really mean?
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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
SEPTEMBER 27, 2019
JPMorgan Chase this week announced a $25 million commitment to tech tools that help underserved consumers. The contribution will go towards the nonprofit Financial Health Network’s Financial Solutions Lab, a development program that supports fintech startups that help consumers save money, reduce debt and meet long-term financial goals. According to the Financial Health Network, the […].
South State Correspondent
SEPTEMBER 23, 2019
If you want a more innovative bank, it starts, and largely stops, with what your approval process looks like for new technology. Take a human and force them to grow up in New York City. Around age 20, you force them to go to conferences on living in the outdoors, hunting, fishing, and survival. You also hire consultants to come in and teach outdoor skills.
Payments Dive
SEPTEMBER 25, 2019
U.S. Bank, Sampath Bank Sri Lanka and First Commonwealth Federal Credit Union won honors during an awards dinner this week at the seventh annual Bank Customer Experience Summit at the Loews Chicago Hotel.
Chris Skinner
SEPTEMBER 24, 2019
I’m going to write the last of my blogs at this point on being purpose-driven to reference something that irks me a lot. Exclusivity. We have exclusivity a lot in life. The idea is that it creates ambition, hope, focus, hunger, direction and reward. We want the next airmile to … The post Money creates purpose (which is why it’s so important) appeared first on Chris Skinner's blog.
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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
SEPTEMBER 26, 2019
LONDON — Finastra has designs to double the number of APIs it offers to 120. Bank Innovation believes this will be the greatest number of APIs offered by one financial technology company. Martin Haering, chief marketing officer of Finastra, told Bank Innovation at Sibos this week that the doubling of APIs will happen within the next six months and is […].
PYMNTS
SEPTEMBER 26, 2019
If for nothing else, Uber and Lyft will be remembered for one big thing: making payments all but invisible via a seamless transaction process that was pretty much revolutionary. In a short amount of time, that ideal has become the general gold standard for digital and mobile payments and commerce, a guiding light for all types of companies in all kinds of sectors.
Payments Dive
SEPTEMBER 24, 2019
Uber is a major force in the tech industry. Despite consistently operating in the red, the company commands more than 70% of the U.S. rideshare market and reached an $82 billion valuation at the time of their initial public offering earlier this year.
Chris Skinner
SEPTEMBER 23, 2019
Things we’re reading today include … The $100 Trillion Opportunity: The Race To Provide Banking To The World’s Poor Ex-Wall Street banker Sean Stewart guilty in second insider trading trial Why the index fund ‘bubble’ should be applauded Setback for Metro Bank as investors snub £250m bond sale Shaky start … The post Things worth reading: 24th September 2019 appeared first on Chris Skinner's blog.
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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
SEPTEMBER 23, 2019
LONDON — IBM now has more than 60 startups in its Catalogue offerings that allow for modular inclusion of additional software products. Tom Eck, Global Chief Technology Officer of Industry Platforms at IBM, told Bank Innovation that the number of startups in Catalogue is a result of significant effort on the part of the technology […].
Accenture
SEPTEMBER 23, 2019
Trade finance is a dynamic, highly innovative business with multiple opportunities linked to new technologies and environmental/social/regulatory demands. In that context, I see three major challenges for banking players: Challenge one. How to gain sustainability, speed and cost out in order to expand in trade finance—particularly with the small-to-medium enterprise (SME) segment?
PYMNTS
SEPTEMBER 21, 2019
It’s National Cyber Security Awareness Month, and industry leaders are zeroing in on some of the most vulnerable targets of cyber scams: small businesses. Stronger passwords. Paying closer attention to suspicious emails. Using public wi-fi with caution and safeguarding mobile apps. They’re just a few basic rules of thumb for small business owners to help mitigate the risk of a cyberattack, according to Matrix Integration; however, as president Nathan Stallings warns, as cyberattacks
Chris Skinner
SEPTEMBER 25, 2019
It’s a weird world. I know lots of grumpy old men like me lament that, when we were growing up, we were left outside to run about as we felt, find our own way to and from school, were encouraged to read more and exercise, and such like. It seems … The post Security is about as good as a fart in a spacesuit appeared first on Chris Skinner's blog.
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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
SEPTEMBER 25, 2019
Armed with new numbers, HSBC is touting the success of its Pepper robot deployments at select branch locations. Pepper, which was first rolled out 14 months ago at HSBC’s flagship Fifth Avenue Manhattan location, was added to bank locations to supplement the activities of human workers, helping customers find more information about products or directing them […].
Ron Shevelin
SEPTEMBER 23, 2019
The changes in how we work are creating needs and opportunities across a wide range of products and services, not just financial services. But banks are watching this opportunity slip through their fingers.
PYMNTS
SEPTEMBER 27, 2019
This week, along with Amazon’s announcement about new Echo devices and Alexa’s celebrity voices, came news of Amazon Sidewalk , a new wireless protocol that uses low bandwidth to extend the distance at which IoT devices can be controlled and requires less power than Wi-Fi. This seemingly small move signals Amazon’s faith in the growth of the Internet of Things (IoT), however.
Chris Skinner
SEPTEMBER 22, 2019
The main blog headlines are … The two big issues bank CEOs have with FinTech For all the talk about how well FinTech start-ups are doing, I hear two regular laments from bank CEOs. First, why aren’t we valued like FinTechs? and second, why aren’t FinTechs regulated like us. On … The post The Finanser’s Week: 16th September – 22nd September 2019 appeared first on Chris Skinner's blog.
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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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