Bank Innovation
APRIL 27, 2018
Singapore is taking another step towards cementing itself as the top fintech hub in the world. Today the Intellectual Property Office of Singapore (IPOS) said it would speed up the patent granting process for fintechs in the country. Singapore, according to a Deloitte study, ranks first along with London, among 44 hubs across the globe. […].
Payments Dive
APRIL 26, 2018
Of the 2,000 U.S. adults surveyed, mobile banking app use ranked third (31 percent) behind only social media (55 percent) and weather apps (33 percent), respectively.
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Chris Skinner
APRIL 24, 2018
Another conversation about Open Banking, and an interesting point was raised by one bank. They said that they had been mapping financial moments – getting married, buying a house, having a baby, crashing your car, etc – and had started to reimagine the whole customer experience in those moments using … The post The bank’s view of Open Banking appeared first on Chris Skinner's blog.
PYMNTS
APRIL 24, 2018
Companies recognize the need for IoT security, but few are acting on those concerns. According to a recent survey, 97 percent of respondents said an attack on unsecured devices would be devastating to their organizations. However, less than a third are actually vigilant about monitoring for third-party related risks. Despite the security risks, the popularity of IoT seems unlikely to abate.
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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.
Bank Innovation
APRIL 23, 2018
Bank P2P service Zelle is having some issues with fraud, with some customers reporting that hackers, exploiting weaknesses in the platform, had cleaned out their bank accounts: even if those customers had never used, or head of Zelle, according to a New York Times report this weekend. With thousands of new users signing onto the […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
APRIL 24, 2018
There’s a quote I’ve stolen off John Oliver that bitcoin combines everything you don’t understand about finance with everything you don’t understand about technology. It’s a great line, and considering banking and technology are probably some of the most complicated things in our world, one that hits the nail on … The post Why techies laugh at finansers and vice versa appeared first on Chris Skinner's blog.
PYMNTS
APRIL 27, 2018
In many businesses, acquiring customers used to be a function of where the business was located — a high traffic intersection for a convenience store or a well-heeled mall for a clothing retailer. Technology, of course, changed all that. It’s also made the offering of subscription services a robust channel for a business to operate in. By one measure , subscription company websites have seen visitor growth of over 800 percent since 2014.
Bank Innovation
APRIL 24, 2018
EXCLUSIVE - Known as one of the first technology companies in Europe to procure a German banking license, solarisBank has lofty ambitions for 2018. That plan, according to Timo Weber, VP of strategy and internationalization, is to add 50 more partners over the course of the year. “A big part of our effort this year […].
Payments Dive
APRIL 24, 2018
Through Friday, June 15, Networld Media Group is accepting entries from innovative, consumer-focused financial institutions and fintech providers whose unique strategies and technologies are heightening the consumer experience.
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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
APRIL 23, 2018
Over the weekend, I received a couple of interesting emails about things happening in Asia. The first is a translation of an announcement from the People’s Daily, the most official newspaper of the Chinese Communist Party, discussing digital currencies. The article is fairly high level and makes no commitment to … The post Digital smartphone banking is used by 97% of Asia’s developed market consumers appeared first on Chris Skinner's blog.
PYMNTS
APRIL 23, 2018
Brick-and-mortar retail has spent the last decade building bridges to the digital world so a new generation of digital consumers can move fluidly between them. What’s been largely left behind, however, is a payments experience that moves just as seamlessly between those worlds. There have been many attempts to bridge the gap, but consumers haven’t really taken the bait.
Bank Innovation
APRIL 26, 2018
Nymbus, a startup taking on what is arguably banking’s biggest problem — aging, outdated cores — announced a new product today called SmartLaunch, which “enables financial institutions to stand up a turnkey digital brand under their existing charter in as few as 90 days.” This is an interesting move from Nymbus. Rather than converting an existing […].
Payments Source
APRIL 23, 2018
When offered in a fair and transparent manner, DCC provides real value and benefit to both the cardholder and the merchant striving for new ways to remove friction and improve their customer service experience, writes Mark Horwedel, CEO of the Merchant Advisory Group.
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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.
Chris Skinner
APRIL 25, 2018
Banks are trusted guardians of our money. As long as our money is safe, then we trust them. It’s when our money is breached or lost that banks misbehave, which is why the 2008 financial crisis was so concerning. The run on Northern Rock and Bear Stearns were terrible moments … The post What is the worst thing a bank can do? appeared first on Chris Skinner's blog.
PYMNTS
APRIL 24, 2018
It’s time for retailers to stop looking at brick-and-mortar like it’s dying. Traditional retail is changing, it’s true – and that has manifested as a fair amount of growing pains – but the perception that physical retail is a sinking ship may be leading merchants astray. Perhaps it’s better to think of modern retail as a chrysalis. Traditional retail was the caterpillar, inching along slowly but steadily, and somewhere ahead lies the magnificent butterfly of omnichannel, experiential, contextual
Bank Innovation
APRIL 24, 2018
Royal Bank of Scotland will launch a new mobile bank and plans on moving one million of its NatWest customers to there, according to Forbes. NatWest Bank is a fully owned subsidiary of RBS. NatWest, formally called National Westminster Bank, currently has about 7.5 million retail customers. How RBS will determine which customers get moved to […].
Bobsguide
APRIL 24, 2018
SWIFT has recently announced the extension of its global payments innovation (gpi) real-time payments tracker function to all (ie non-gpi) payment instructions, in an attempt to cement their position in the correspondent banking landscape. Hailed as a “game-changer” by Lars.
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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
Chris Skinner
APRIL 21, 2018
The main blog headlines are … Digital banking? Isn’t that just an app? I meet a lot of senior executive teams of large banks. Some are visionary, many are committed and a large number understand that life is changing. Few understand how. I talk to them about the fintech world … The post The Finanser’s Week: 16th April 2018 – 22nd April 2018 appeared first on Chris Skinner's blog.
PYMNTS
APRIL 26, 2018
The U.K. is only weeks away from bringing its Global Data Protection Regulation (GDPR) rules into effect, and corporates are ill-prepared for the data security requirements, according to new research. Law firm McDermott Will & Emery collaborated with Ponemon Institute to assess how U.K. businesses are getting ready for GDPR to take effect on May 25.
Bank Innovation
APRIL 24, 2018
Bank HSBC is now live on SWIFT gpi, the payments service meant to enhance cross-border payments around the globe, the company announced today. While 160 banks are signed up for the payments service, HSBC marks “nearly” the 50th bank to start sending payments live, according to SWIFT. Over 90% of all payments on the gpi […].
Bobsguide
APRIL 23, 2018
At the end of last year the Basel Committee on Banking Supervision (BCBS) announced the final rules that completed the Basel 3 reforms. Basel 4 - as the latest incarnation has since become known as - was presented at the time by Mario Draghi as “the end of the game” A key objective.
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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
Chris Skinner
APRIL 22, 2018
Things we’re reading today include … Zelle, the Banks’ Answer to Venmo, Proves Vulnerable to Fraud Bank of England ‘dangerously ill-equipped’ for next recession, says IPPR Barclays boss Jes Staley faces £1m hit after hunt for whistleblower Mifid II rules failing investors, warns City veteran TSB customers report online problems … The post Things worth reading: 23rd April 2018 appeared first on Chris Skinner's blog.
PYMNTS
APRIL 24, 2018
Billionaire Bavaguthu Raghuram Shetty is combining Travelex and UAE Exchange under one parent company called Finablr in preparation for a possible initial public offering, according to Reuters. The UAE-based businessman announced on Monday the creation of Finablr as the business that will hold the financial services companies he controls. His son and executive in the family businesses, Binay Shetty, told Reuters the plan is to bring Finablr public on the London stock market at some point after
Bank Innovation
APRIL 25, 2018
One of the U.K.’s largest banks, Barclays plc, has partnered with American payments company PayPal to provide Barclays customers the ability to use their Barclays products in PayPal’s digital wallet to make online payments. The partnership will also allow U.S. consumers to redeem Barclays reward points at merchants accepting PayPal. Another important aspect of this […].
Payments Source
APRIL 25, 2018
When regulators recognize ICOs as securities offerings, they will likely require issuers to fully comply with standard Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, increasing compliance pressure, according to Ron Teicher, CEO of EverCompliant.
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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.
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