Chris Skinner
JANUARY 5, 2020
Welcome to 2020. It’s a new day. It’s a new year. It’s a new decade. And yes, I’m feeling good. 2020. This is a year all of us futurists have looked forward to for over two decades as, back in 2000, it became popular to talk about a 2020 vision. … The post Welcome to 2020: What’s new? appeared first on Chris Skinner's blog.
Bank Innovation
JANUARY 7, 2020
At first glance, New York-based Qapital, a digital banking, investing and budgeting platform, might look like a challenger bank. But CEO and co-founder George Friedman says Qapital’s offerings are more than just a collection of financial products. To Qapital, which launched in the U.S. in 2015, the automation of money movement in conformity with the […].
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Payments Dive
JANUARY 9, 2020
As Big Tech encroaches upon banking, some of the leading app developers in the ride sharing and food delivery space are carving out a niche for themselves in financial services. The challenge posed by these companies could have profound implications for the future of payments.
Abrigo
JANUARY 6, 2020
Key Takeaways The most popular BSA/AML and fraud blog posts in 2019 related to staying on top of regulatory changes. BSA and compliance officers wanted to read about SARs, risks tied to cannabis-related businesses, and preparing for CAMS exams. Regulatory change in focus. Bank Secrecy Act (BSA) and compliance officers at financial institutions in 2019 remained focused on staying on top of all of the regulatory changes occurring in the space, and it showed in the articles on Abrigo’s blog that we
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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.
PYMNTS
JANUARY 10, 2020
China’s central bank, the People’s Bank of China (PBOC), said it has completed the “top-level” design of its proposed digital currency, according to reports. The PBOC released the information in a recently released paper, saying that the “top-level design, standard formulation, functional research and development” of the digital yuan coin has been completed.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JANUARY 10, 2020
Bátiz-Lazo, departmental chair in Business History and bank management at Bangor University, in Wales, discussed the importance of creating a competitive advantage.
Chris Skinner
JANUARY 8, 2020
As a regular BA traveller, I’m always pleased to pick up their magazine Business Life as it often has some interesting articles. This year, the magazine has a great write up of forecasts for things that will happen in the 2020s by Tim Hulse. Here are his top 10 things … The post 2020: a decade in technology appeared first on Chris Skinner's blog.
South State Correspondent
JANUARY 7, 2020
MANAGING CREDIT RISK If you are like most banks you have your credit approval and risk process based around loan size. The assumption is that the larger the loan the more risk the bank is taking on so a greater level of risk review is needed. But, suppose the data didn’t bear that assumption out? If that assumption is wrong, then that means that your bank is probably underpricing the smaller loans, overpricing the larger loans, applying the wrong cost structure to the larger loans and misalignin
Bank Innovation
JANUARY 10, 2020
Thailand is laying the foundations for standalone digital banks as it strives to catch up with other Asian markets that are allowing such changes, according to its central bank governor. “At this stage, Thailand might not have the ecosystem ready like in Singapore or Hong Kong, where the digital banking system is in better shape,” […].
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Payments Dive
JANUARY 9, 2020
Payment processors can make running your business easier. But it’s up to you to make the right investment and select the one that will best suit your needs and make your customers happy.
Chris Skinner
JANUARY 7, 2020
I was going to write stuff about this but The Financial Stability Board did it for me. Here’s where the regulator will focus in 2020: The Financial Stability Board (FSB) published its work programme for 2020. The FSB’s work priorities for 2020 reflect the evolving nature of the global financial … The post The regulator’s focus for 2020 appeared first on Chris Skinner's blog.
Abrigo
JANUARY 10, 2020
Key Takeaways If you don't feel like your modeling results are relevant, then it might be time to ask different questions. Shift your ALM model from a static to a dynamic approach to find more value in your results. Strapped for time to implement these strategies? Consider leveraging valuable resources to help. If the primary goal of your asset/liability management (ALM) process is centered on meeting interest rate risk reporting requirements, then it’s likely that your institution views ALM as
Bank Innovation
JANUARY 5, 2020
Two more consortiums said they submitted bids for digital banking licenses in Singapore as companies, ranging from a massage chair maker to a property giant and Chinese fintech firms, joined forces to go for the sought-after permits. Beyond Consortium, led by one of Asia’s largest massage chair makers, V3 Group Ltd. and stored-value card company […].
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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.
Accenture
JANUARY 9, 2020
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 Globally, Sceptics formed the largest group among the survey’s 47,000 respondents, with one in three people….
Chris Skinner
JANUARY 8, 2020
Things we’re reading today include … Pension funds urge Barclays to stop lending to fossil fuel firms World Bank warns on global growth World Bank warns of global debt crisis amid borrowing buildup What’s at the heart of a credit score that can ruin a life SEC drops insider trading … The post Things worth reading: 9th January 2020 appeared first on Chris Skinner's blog.
Abrigo
JANUARY 8, 2020
Key Takeaways The most popular BSA/AML and fraud blog posts in 2019 related to staying on top of regulatory changes. BSA and compliance officers wanted to read about SARs, risks tied to cannabis-related businesses, and preparing for CAMS exams. Artificial Intelligence in BSA/AML. Artificial intelligence is one of the biggest buzzwords in the anti-money laundering (AML) community.
Bank Innovation
JANUARY 5, 2020
Digital banking brand Majority, which is aimed at reaching immigrants who lack credit history, is on pace to launch across the U.S. this year. Majority is a membership-based digital banking service that costs $5 per month. It gives immigrants a platform to manage their money, send funds home to their families and carry out long-distance […].
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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
JANUARY 8, 2020
The central bank in China said it has accepted an American Express application to start working in the country, according to a report by Reuters. The news was released in a social media post by the official People’s Bank of China (PBOC) account on Wednesday (Jan. 8). The post did not say when Amex would start operations in the country. In November of 2018, Amex got approval to clear card payments by the PBOC , making it the first company of its kind to get access to what will become the largest
Chris Skinner
JANUARY 9, 2020
Things we’re reading today include … Indigenous man and girl handcuffed for opening bank account Singapore receives 21 applications for five digital bank licences Customers threaten to leave Tandem Bank after announcement of new £6 monthly charge Goldman Sachs answers investor demands on consumer bank The banking tech trends that … The post Things worth reading: 10th January 2020 appeared first on Chris Skinner's blog.
South State Correspondent
JANUARY 7, 2020
RETHINKING PAYMENTS Last month, the Federal Reserve released its 7 th , tri-annual U.S. payments study, and, as usual, it had some eye-opening trends that all banks need to consider for their long-term strategic planning. For example, while consumers have always said they preferred debit cards over cash, last year was the first year in US history where consumers used their debit cards (28% of all transactions) more than they used cash (26% of all transactions).
Bank Innovation
JANUARY 8, 2020
While chip cards are becoming a mainstay at brick-and-mortar retail checkouts, gas pump payment technology lags behind. Visa and Mastercard have given U.S. gas station owners until October of this year to upgrade pumps to accept EMV chip cards, rejecting a deadline extension request from the Merchant Advisory Group. Gas station operators who fail to […].
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PYMNTS
JANUARY 10, 2020
IKEA has announced it is cutting ties with Amazon, a move that other brands like Nike, Birkenstock and PopSockets have also done recently. However, according to a report by CNBC , the move could backfire, as Amazon completely dominates the online shopping market, with 38 percent under its control. The only companies that come close are eBay and Walmart , which both only control single-digit percentages of the market.
Chris Skinner
JANUARY 7, 2020
Things we’re reading today include … Barclays £322m Qatar deal ‘could be seen as way to hide payments’ Ignoring climate risk costs more than tackling it Former Goldman banker pleads guilty to insider trading Bitcoin: Should cryptocurrency owners make a will? Travelex customers ‘thousands of pounds out of pocket’ Wall … The post Things worth reading: 8th January 2020 appeared first on Chris Skinner's blog.
Accenture
JANUARY 10, 2020
With cloud technologies promising shorter time to market, more agile delivery and lower total cost of ownership (TCO), most banks are well underway with their journey to the cloud. As a result, most have some part of their technology estate in the cloud already and are working actively to expand this footprint further still. As…. The post Maximising the value in enterprise cloud adoption appeared first on Accenture Banking Blog.
Bank Innovation
JANUARY 9, 2020
American Express Co. cleared a key hurdle in its bid to accessing China’s $27 trillion payments market after the central bank accepted its application to start a bank card clearing business. The People’s Bank of China made the announcement on its official Wechat account Wednesday, without giving more details. The decision to accept the application […].
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