Chris Skinner
OCTOBER 8, 2018
Another lively discussion followed my meeting with the FinTech communities in Asia. It was interesting as we had a chat about all aspects of what was happening in South-East Asia, and the overwhelming message that came back to me was that the regulatory sandboxes had become sandcastles. What I mean … The post From sandbox to sandcastle appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 9, 2018
Restaurant and retail executives that gathered in Chicago this past summer for the Networld Media Group's annual CONNECT: The Mobile CX Summit shared their thoughts with us about the hottest trends in mobile technology in this exclusive video.
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PYMNTS
OCTOBER 11, 2018
Alipay , the mobile payment app, said Wednesday (October 10) that hackers stole money from accounts via stolen Apple IDs. Reuters , citing Ant Financial , the payment affiliate of Alibaba, reported the Chinese company said the issue hasn’t been resolved even though it reached out to Apple already. In a post on its Toutiao social media account, Reuters reported it said users who linked their accounts via Apple IDs should lower their transaction limits.
Bank Innovation
OCTOBER 12, 2018
It's safe to say most of the financial services world is curious to know if and when a "Bank of Amazon" will become a reality. The question banks are perhaps most anxious about is how will this impact their customer base? Should they be worried about customer attrition? The answer, according to Scott Anderson, brand […].
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Chris Skinner
OCTOBER 10, 2018
Someone asked me about getting return on investment in fintech. The discussion is about how many firms are actually delivering on their promise. So many unicorns are loss-making firms, and billion-dollar valuations on million-dollar revenues seems like a lot of hype. One article typified this feeling: High-society fintech under pressure … The post Why P2P lending works in some markets and not in others 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.
PYMNTS
OCTOBER 10, 2018
Bitcoin miners have around $4.7 billion in revenue in 2018 — but because of the cost of electricity, miners are failing to make a profit. TheNextWeb , citing blockchain research firm Diar , reported that based on the data, this marks the first time cryptocurrency mining businesses aren’t making money off their bitcoin mining efforts. According to the report, as it stands, bitcoin miners make 54,000 BTC each month for processing the mining blocks.
Bank Innovation
OCTOBER 10, 2018
Banks have been at the forefront of cybersecurity for years, investing heavily to protect some of their clients’ most valuable and sensitive information. Such heavy investment in cybersecurity is increasingly the cost of doing business in financial services, but it also presents an opportunity for banks to generate a return on that investment by earning […].
Chris Skinner
OCTOBER 8, 2018
I keep seeing headlines about Amazon opening a bank, challenger banks pulling the crown off the incumbent banks heads, the end of old banks, the disruption of the system and the end of all traditional financial services. I guess some would say that I fall into this camp and, on … The post Are challenger banks challenging? appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 10, 2018
Enabling merchant acceptance of digital payments is a key element of the overall development of the DFS ecosystem.
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PYMNTS
OCTOBER 11, 2018
A small test market could be ground zero for seismic changes in commerce and payments — and now possibly for cryptos. Consider Dubai, a city in the United Arab Emirates (UAE), home to 3 million souls. That’s a third of Manhattan’s population, if one is keeping score. It’s a self-proclaimed blockchain city. Dubai is gearing up for payments via digital coin through a concerted effort between the government and blockchain payments provider Pundi X , with hardware rolling out and a state-created cry
Bank Innovation
OCTOBER 9, 2018
If Bitcoin hasn't been in the news lately (Bank Innovation included), it's because things aren't going that well for the best-known cryptocurrency, or for that matter any of the altcoins. A new report from Juniper Research found that the value of annual Bitcoin transactions will decline in 2019. Gone are the days from last December when Bitcoin had […].
Chris Skinner
OCTOBER 10, 2018
I was recently asked to write an essay for the Center for Financial Inclusion, as part of a series looking at the ingredients to get this right. They gave me the topic of getting the infrastructure right. Here’s what I wrote: Getting the Infrastructure Right for Financial Inclusion The world … The post Getting the Infrastructure Right for Financial Inclusion appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 10, 2018
An exponential growth in identity-dependent digital transactions requires financial institutions to safeguard customers' identity credentials. FSS Aadhaar Vault can help you create a trusted services environment.
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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.
PYMNTS
OCTOBER 10, 2018
Mastercard has been awarded a patent for a proposed blockchain system that would support multiple types of currency. According to Coindesk , the patent describes how a firm may need to store different types of transaction data on the same platform, which is difficult to do on a single blockchain. So Mastercard wants to implement a method to create a blockchain that enables different blocks that can store different types of information.
Bank Innovation
OCTOBER 8, 2018
Not even a month has passed since Julie Demarigny, a veteran in digital entertainment industry having served Warner Bros. and Sony Music, has joined West Coast focused Union Bank as its head of digital banking. In her new role, Demarigny will lead all digital strategy for the bank and its savings-only platform PurePoint Financial as […].
Chris Skinner
OCTOBER 11, 2018
There’s more and more dialogue about a no-deal Brexit these days, even though Jean-Claude Junker and Michel Barnier are clearly trying to avoid it as they have said a deal is now 85% agreed. It’s just not the Chequers deal. Whether a deal is agreed or not with the EU, … The post Do we really believe financial markets would continue smoothly with a no-deal #Brexit?
Payments Dive
OCTOBER 11, 2018
Infomedia attended the Phone-paid Services Authority Autumn Forum with CEO, Michael Tomlins, forming part of the discussion panel focused on improving consumer confidence in the Direct Carrier Billing (DCB) payments industry.
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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
OCTOBER 8, 2018
The latest rundown of small business (SMB) finance research uncovers key areas for improvement: Younger small business owners are more often relying on personal credit cards for business purchases, paper remains a staple in the finance department, and, while small business loan delinquency rates overall remain stable, research showed several industries in which they rose last month.
Bank Innovation
OCTOBER 12, 2018
The banking and finance sector earned the second lowest score in the first Assessment of Business Cybersecurity report released Thursday by the U.S. Chamber of Commerce and FICO, with only the media, telecommunications and technology sector performing worse. The assessment is meant to give businesses a quarterly benchmark for assessing their cybersecurity risk over time. […].
Chris Skinner
OCTOBER 11, 2018
Things we’re reading today include … JPMorgan profit rises 24.5 percent, helped by higher interest rates Britain’s RBS pays first dividend in decade Goldman Sachs to open first UK office outside London as digital savings bank Marcus takes off Door opens for UBS to take majority ownership of China JV … The post Things worth reading: 12th October 2018 appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 10, 2018
FSS Payment Gateway powers online holiday sales for leading acquirers and merchants globally.
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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.
PYMNTS
OCTOBER 11, 2018
Much has been said in recent weeks about Ripple and its digital XRP token, where trading has been nothing but volatile. In just over a week, the price has slipped 20 percent. Beyond that trading, noted Forbes , there has been speculation that banks would embrace Ripple to move money through cross-border conduits. In news that may be separated from the vagaries of cryptocurrency trading, Banco Santander said this week that it will use Ripple’s ledger, bringing payments across the bank’s OnePay FX
Bank Innovation
OCTOBER 11, 2018
Bank of America is proud of its virtual assistant, Erica, which has 3.5 million users and 11 million transactions within three months of its launch, Michelle Moore, head of digital banking at BofA, said at the BAI Beacon conference in Orlando yesterday. But Erica still has a long way go. "Customers are not comparing Erica to […].
Chris Skinner
OCTOBER 9, 2018
Things we’re reading today include … Credit union in wealthy London borough collapses Emerging economies at risk amid ‘complacent’ markets, IMF says EU financial sector at risk as derivative deal stalls Convicted former UBS trader to be freed from UK immigration centre Global financial stability risks rising with trade tensions, … The post Things worth reading: 10th October 2018 appeared first on Chris Skinner's blog.
Bobsguide
OCTOBER 12, 2018
Blockchain, or Distributed Ledger Technology (DLT), is one of the most hyped new branches of digital tech in recent history. Invented as the underlying framework to power Bitcoin, it is now being applied in some way to every industry, including capital markets. The potential applications of.
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