Chris Skinner
MAY 24, 2018
Quite a few people talk about invisible banking today. The idea is that banking transactions and services should be invisible as if they are noticeable, as in visible, then that means you have pain and friction which should have been removed. A good example of invisible banking is the iTunes … The post Do customers really want ‘invisible banking’?
Bank Innovation
MAY 22, 2018
There are quite a few lending solutions these days for small businesses -- Funding Circle, OnDeck, Kabbage, and Square Capital, to name a just a few -- but innovation and digitization are lagging in other areas, such as digital account opening. Enter Gro Solutions, a sales and marketing platform for financial institutions. Atlanta-based Gro has […].
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Payments Dive
MAY 24, 2018
One clear conclusion we can make, based on recent trends in the financial services industry, is that the increasing prevalence of new transaction methods does not necessarily mean that more traditional payment mechanisms are being left behind.
PYMNTS
MAY 25, 2018
As Europe’s General Data Protection Regulation (GDPR) comes into effect, Facebook privacy critic Max Schrems has filed four complaints over consent required to use online services. The complaints were filed against Facebook — along with its Instagram and WhatsApp services — and against Google ’s Android, TechCrunch reported. “It’s simple: Anything strictly necessary for a service does not need consent boxes anymore,” Schrems wrote in a statement.
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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
MAY 21, 2018
Back in the 1980s, Walter Wriston, the then Chief Executive and Chairman of Citibank, said that “information about money is becoming more important than money itself”. His successor, John Reed, said that “banking is just becoming bits and bytes”. A quarter century later, this vision of the future of finance … The post Do bank leaders really need to be digital?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
MAY 22, 2018
There are a multitude of reasons to attend the upcoming ICX Summit being held in Dallas in June. Here are five top reasons not to miss the annual event from Networld Media Group, which publishes Mobile Payments Today.
PYMNTS
MAY 25, 2018
Among the latest hopes for healthcare payments is blockchain. Touted by observers and industry players as one of the top trends that could impact medical billing and data management for 2018, the technology is increasingly being viewed as part of the path to better efficiency in payments. For instance, ConnectingCare , a company that helps far-flung practitioners view patient data across different points of care, wants to use blockchain for cost forecasting and to enable direct pay options for h
Chris Skinner
MAY 23, 2018
So, I’m presenting at a Corporate Treasury event, and we get into talking about distributed ledger technology (DLT) and blockchain. Comments are made around so many tests and proofs of work and concept, but so little production. At this point, someone made the comment that it will happen from the … The post Some day my DLT will come appeared first on Chris Skinner's blog.
Bank Innovation
MAY 23, 2018
The changing bank branch is a twofold story of innovation and closures. The physical bank branch is by no means dead, but is trending toward consolidation or closure, as in the case of Iberia Bank in Louisiana. Earlier this week, the regional bank announced the closure of 22 branches. CEO Daryl Byrd said the move […].
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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
Payments Source
MAY 21, 2018
E-commerce payment fraud losses are mounting, giving merchants the opportunity to dump responsibility on their technology partners, but there's no surefire way to totally offload the financial hit.
PYMNTS
MAY 22, 2018
Payments software company HPS is launching an API for other FinTech innovators to integrate into banking systems. The company announced news on Monday (May 21) that its PowerCARD Connect-Open API aims to help FinTech developers integrate mobile payment, tokenization, biometrics and other emerging banking technologies into their own solutions. The rollout follows a pilot version of the API launched last year, HPS noted, adding that the API can support “servicing” and “transacting,” enabling push
Chris Skinner
MAY 25, 2018
I travel a lot and go to several countries that have smart leadership and smart cities. These cities and countries – you know who you are – are in the forefront of innovation and claim to be visionary. So, I was surprised when I was planning a trip to one … The post Dubai: cutting edge or bleeding edge? appeared first on Chris Skinner's blog.
Bank Innovation
MAY 25, 2018
PayPal wants to be the world’s largest open payments platform, according to CEO Dan Schulman. At the heart of this aspiration is PayPal’s ongoing technological evolution, which also enables the payments giant to expand into banking services. “We are just beginning to scratch the surface of the opportunity in front of us,” Schulman said yesterday […].
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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.
Bobsguide
MAY 21, 2018
There are 1583 cryptocurrencies listed on coinmarketcap.com. That is more than all the different types of fiat currencies in the world. The question many people ask is, why are there so many of them? Just nine years ago, there was only Bitcoin. Now we have a cryptocurrency in virtually every sector.
PYMNTS
MAY 23, 2018
Hy-Vee amps up its partnership with the Wahlberg brothers by opening its first Wahlburgers restaurant at the Mall of America in Minnesota. The opening comes as Hy-Vee plans to open another 25 restaurants over the next few years, The Star Tribune reported. Hy-Vee Chief Executive Randy Edeker was not initially interested in the partnership. “But I promised him I’d consider it,” Edeker told the newspaper.
Chris Skinner
MAY 20, 2018
The main blog headlines are … Big bank thinking and the danger of the technology testing hole Building on Friday’s blog about small bank thinking, there’s another anomaly that occurs with big banks which is their usual response to technology is to test it. The problem with testing technology is … The post The Finanser’s Week: 14th May 2018 – 20th May 2018 appeared first on Chris Skinner's blog.
Bank Innovation
MAY 23, 2018
With all the digitization efforts (PSD2 went live in January and GDPR will take effect in two days) in the banking sector, European traditional banks still face a problem with onboarding new retail customers: prospective customers drop out before they complete the onboarding process. The issue has only gotten worse over the years. According to […].
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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
Bobsguide
MAY 25, 2018
As consumer adoption of mobile and online commerce channels continues to grow, fraud losses are becoming a major pain point for mature markets. To address this security challenge, strong customer authentication will become mandatory in the European Union. Even without regulatory mandates, the.
PYMNTS
MAY 24, 2018
Some of the biggest banks in Europe are urging regulators to increase oversight of large technology companies that are moving into the financial services market. The Financial Times , citing some of the banks, reported that the new open banking rules that require European Union lenders to provide account access of customers to third parties has resulted in concerns on the part of bankers that Chinese and U.S. technology companies will choose to go only after the best parts of the financial servi
Chris Skinner
MAY 21, 2018
I was asked at a conference the other day: “so what do you think about a banks’ Innovation Department?” The question threw me a little, so I asked what they meant. “Well, do you think banks should have an Innovation Division?” I replied that divisions divide, and that innovation should … The post It ain’t what you do appeared first on Chris Skinner's blog.
Bank Innovation
MAY 25, 2018
For years, as financial services became increasingly digital, credit scoring remained stubbornly unchanged, but there are indications, from the regulators on down to startups, that this is finally changing. From machine-learning-based underwriting to blockchain-based identity solutions, new technology is transforming the business of borrowing money.
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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.
Bobsguide
MAY 23, 2018
Artificial intelligence has come on leaps and bounds in the past few years, with big data and cyber security adding much to financial service firms’ means of protection. Here, bobsguide speaks with Nezar Nassr, technical product manager and Nasser Sweileh, head of financial crime and.
PYMNTS
MAY 21, 2018
Recent moves from PayPal and Target have brought fresh attention to the use of augmented reality (AR) to boost commerce and payments. The technology remains in its infant stage — with seemingly as many ideas and demonstrations as real-world applications — but the paths to an augmented reality future are becoming clearer. The revival this spring of PayPal’s patent for payment-enabled augmented reality glasses has some analysts wondering how close the technology is moving toward the mainstream.
Chris Skinner
MAY 21, 2018
Things we’re reading today include … Japan’s Biggest Bank to Switch on Blockchain Payments in 2020 Could smartphones replace bank branches? Ant Financial valued at $150bn in offering City watchdog bans finance boss of firm owned by couple dubbed ‘vampires of debt’ Qatar charges against Barclays dismissed Barclays may have … The post Things worth reading: 22nd May 2018 appeared first on Chris Skinner's blog.
Bank Innovation
MAY 24, 2018
Artificial intelligence, machine learning, and compliance were some of the topics that dominated day 1 of fintech conference Data Disrupt, taking place in New York. The panel “Consumer Finance: Fighting Fraud with Fire” brought together three fintech companies, who discussed different methods of combating fraud. AI and ML play undeniably large roles in fighting financial […].
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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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