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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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 […].
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.
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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
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.
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 […].
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.
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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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
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 […].
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
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.
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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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.
Payments Source
JANUARY 29, 2019
Apple has strived to portray Apple Pay as the trusted, go-to mobile payment option for its customer base, but the company's own security problems have undermined this effort.
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.
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.
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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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
Payments Source
FEBRUARY 1, 2019
Game day is a big day not just for athletes — anyone who sells pizza, chicken wings and beer will also win big if they have the capacity to handle all of the orders that come in. Many are turning to mobile and online technology to increase sales and remove friction from the payment process.
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.
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 30, 2019
In the first half of 2018 the UK received record levels of investment in the fintech sector – with over $16bn investment, according to KPMG. That’s $2bn more than the amounts raised in the Americas and China, individually, and six more than the rest of Europe. But while the UK has been.
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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.
Insights on Business
FEBRUARY 1, 2019
Security. What does it mean to you? Feeling safe. Protected from threats. Guarded from attacks. Privacy. To those working in the financial services industry, security is at the core of their business. The rise of artificial intelligence and machine learning might help protect business assets, but it is also making it easier for the bad guys to find holes in the security.
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.
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 28, 2019
Early on in my treasury consulting career, a new client approached me with what seemed to me a rather unusual request during their system implementation: “Could you please set up Deutsche Mark as one of our currencies?” I blinked. Deutsche Mark – the former German currency replaced.
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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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