Chris Skinner
JANUARY 28, 2019
I claim that most of the banks embracing true digital transformation and not just treating digital as a channel, are led by people who understand technology. They have a leadership team who are passionate about digitalisation, and see it as a core raison d’etre of the bank’s future. Not just … The post The CEO and Chair make digital banking work appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 31, 2019
Mobile point-of-sale systems are a growing consideration for retailers, but carry a number of concerns about fraud and secure payment.
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PYMNTS
JANUARY 30, 2019
Stripe, the San Francisco digital payments startup, has landed a $100 million investment from Tiger Global Management, boosting its valuation above $20 billion. According to a report in CNBC , citing The Information, with the $100 million investment by Tiger Global Management , Stripe now has a valuation of $22.5 billion. It comes on the heels of Stripe raising $245 million in a Series E round of fundraising last fall.
Bank Innovation
FEBRUARY 1, 2019
As consumer trust in financial apps continues to rise more customers are comfortable using mobile banking apps for complex transactions such as loan and mortgage applications: one report finds. A report released by Webpals found that out of 500 bank customers, 50 used their financial mobile apps to apply for a loan or mortgage. This number, albeit small compared to […].
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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.
Chris Skinner
JANUARY 31, 2019
I got into one very interesting discussion with a digital banker. He was underscoring how important data is in banking, and referenced the fact that banking started with data. It started as a ledger system a thousand years ago so that pilgrims could travel to the Holy Land under the … The post Banks need to be technology giants 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
FEBRUARY 1, 2019
Home improvement startup Houzz revealed that it suffered a data breach. The company said in a FAQ on its website that the breach was discovered in late December 2018, and that “a file containing some of our user data was obtained by an unauthorized third party.”. Once its security team became aware of the issue, it immediately launched an investigation with assistance from a leading forensics firm.
Bank Innovation
FEBRUARY 1, 2019
E-commerce giant Amazon mentioned its cloud computing platform Amazon Web Services, or AWS, 58 times, its virtual assistant Alexa 25 times, and retail just once in its earnings release for the fourth quarter of 2018. Perhaps this is an indicator of where the company sees its future growth potential? AWS sales climbed 45% year-over-year to […].
Chris Skinner
JANUARY 29, 2019
One of the issues I have with financial services is that it’s frightening. You might not think so, but I grew up in a world of cushioned money. I didn’t know much about money at all. The most I knew about money is begging for more pocket money. The Bank … The post Financial literacy is the scourge of our times appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 30, 2019
Andrew Barnard, Co-founder of BITSTOP demos the bitcoin ATM.
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Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.
PYMNTS
JANUARY 28, 2019
China’s startup market had a good year in 2018, with close to 100 technology companies garnering a valuation of more than $1 billion. Known as unicorns, the companies were led by eCommerce and video streaming services, the Financial Times reported, citing data from Hurun’s ranking of China’s top tech companies. According to the report, Hurun, which also produces the annual rich list for China, found there are 186 Chinese tech startups that have valuations of more than $1 billio
Bank Innovation
JANUARY 31, 2019
Avoka, a software firm specializing in customer acquisition and onboarding, seeks to bridge a gap at retail banks and credit unions between the back office and the customer journey with the launch of its new module, Workspaces. The module is an automated digital review and approval workspace aimed at solving onboarding delays and customer dissatisfaction […].
Chris Skinner
JANUARY 30, 2019
I often talk about changing core systems, and most people tell me I’m mad. It doesn’t have to happen. You can have an overlay of middleware to deal with it. You don’t need to change those old systems. It’s too risky and too costly. Blah, blah, blah, blah, blah. And … The post How to get rid of the legacy appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 28, 2019
This interview is part of a video series, “The Future of Fintech,” produced by Mobile Payments Today and powered by Galileo Processing.
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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
JANUARY 31, 2019
As fraudsters become more brazen in their efforts, banks are realizing they need to do more than simply respond to suspicious activities as they find them. Instead, a deeper understanding of fraud — down to its genetic outline — is needed to be truly effective in fighting it. The new Digital Banking Tracker highlights how banks are adopting new approaches to protect their customers and clients from nefarious actors.
Bank Innovation
FEBRUARY 1, 2019
The Super Bowl, the only time in the year that people tell you to be quiet because a commercial is on, is upon us. While the Super Bowl is expected to showcase great football on Sunday, when the Los Angeles Rams and New England Patriots face off, it will also feature the year’s “championship” of TV […].
Chris Skinner
JANUARY 27, 2019
During the second half of 2018, we were trying to work out the future of the Financial Services Club in light of one of our founders, Andy Coppell’s retirement. We have now made an agreement with Z/Yen, the long respected City research and consulting firm, to run our operations together … The post An important announcement about the Financial Services Club appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 28, 2019
This interview is part of a video series, “The Future of Fintech,” produced by Mobile Payments Today and powered by Galileo Processing.
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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 27, 2019
Mastercard , the payments company, said late last week that it is still committed to operating in China. In a press release , Mastercard said that it is making every effort to secure the license to access the domestic Chinese market and confirmed it is in active talks with different solutions. Mastercard said it plans to present another application for a bank card clearing license shortly.
Bank Innovation
JANUARY 31, 2019
Apple envisions an Apple Pay beyond its current role at the point of sale and P2P. The Cupertino tech giant is already looking to embed itself further in retail by pushing for NFC (near field communication) tags in individual items, making checkout lines and POS terminals obsolete, similar to the experience at Amazon's brick-and-mortar locations. "If you see […].
Chris Skinner
JANUARY 30, 2019
Things we’re reading today include … India’s largest bank SBI leaks millions of customers’ data Santander UK bank profits hit by uncertainty Taavet Hinrikus on disrupting the banks Visa profit beats estimates on higher transaction volume Barclays’ lawyers did not object to £322m fees paid to Qatar, court told So … The post Things worth reading: 31st January 2019 appeared first on Chris Skinner's blog.
Bobsguide
JANUARY 31, 2019
Digital-only challenger banks and new market entrants are vulnerable to savvy criminals looking to exploit weak anti-money laundering (AML) controls, according to John Davies, chairman on Kompli-Global and deputy chair of the Emerging Payments Association (EPA). Speaking at the launch of the.
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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
JANUARY 31, 2019
Mastercard has released its latest report on the FinTech landscape, with analysts fixing their eyes on the small business (SMB) community to drive competition and innovation. In its “ What to watch for FinTech in 2019 report ,” developed in conjunction with CB Insights and Mastercard Start Path, Mastercard explores the role of artificial intelligence and open banking in driving the next phases of FinTech innovation.
Bank Innovation
JANUARY 31, 2019
PayPal finally anticipates monetizing Venmo in 2019, nearly six years after acquiring the P2P service. Venmo's revenue run-rate is over $200 million for 2019, PayPal CEO Dan Schulman said in the earnings call Wednesday after market close. In an effort to monetize Venmo, PayPal in February last year added an instant transfer to the service, […].
Chris Skinner
JANUARY 28, 2019
Things we’re reading today include … Man Quits Job At Bank And Turns Up In Spider-Man Costume On Last Day Metro Bank loan blunder perplexes industry Anne Boden’s Good Bank, Bad Bank is scrapped U.S. to Huawei: Don’t Lie to Your Bank Barclays executive had sleepless nights over Qatar ‘bung’, … The post Things worth reading: 29th January 2019 appeared first on Chris Skinner's blog.
Bobsguide
JANUARY 30, 2019
Banks need to unbundle legacy IT infrastructure if they’re to take advantage of the benefits the cloud and APIs can bring, according to Danny Healy, financial technology specialist at MuleSoft. “Banks will typically layer new technology on top of what they’ve already built. This.
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