Chris Skinner
MAY 13, 2018
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 that it is just a test. A false implementation. It is not designed for reality and can … The post Big bank thinking and the danger of the technology testing hole appeared first on Chris Skinner's blog.
Bank Innovation
MAY 14, 2018
Over the past few years, mobile payments has become a service that customers expect from their banks, FIs and e-commerce platforms. Most countries have their own idiosyncratic mobile payment platforms. In the US, we have PayPal-run P2P platform Venmo, and the bank-backed Zelle, among many others. If there is one overarching promise mobile payments makes, […].
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Payments Dive
MAY 17, 2018
Tom Chittenden, vice president and general manager of retail solutions, NCR Corp., writes about how the reinvention happening in retail is pushing more merchants towards the cashierless model.
PYMNTS
MAY 17, 2018
Revolut announced Thursday (May 17) the full release of its Open API for business customers, which it started testing roughly a month ago. In a blog post , Revolut said the response from the business community has been “nothing short of amazing,” and that the community is already using the API to make payments easier, saving time and removing frustration.
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Chris Skinner
MAY 18, 2018
It’s very confusing these days. I turned up at a conference recently in a suit and tie and no one, literally no one, was wearing a suit or tie. No one had told me the dress code either, so I grinned and bared it. Then I got to another meeting … The post Suits you sir! 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.
Payments Dive
MAY 18, 2018
Real-time payments (RTP) have been proliferating globally since 1973, increasingly driven by the need for payments clearing to keep pace with today’s on-demand digital world.
PYMNTS
MAY 15, 2018
The Amazon Go store is getting ready to expand into San Francisco and Chicago. The first cashierless Amazon Go store opened in January in Seattle after being in development for five years. It’s located on the ground floor of the eCommerce giant’s new headquarters. Customers are able to choose from pre-made salads, sandwiches, snacks and meals, as wells as beer, wine and other beverages.
Chris Skinner
MAY 17, 2018
I’ve often been hired to run a workshop or presentation at a bank’s boardroom meeting. Usually, I’m hired by the frustrated digital guy who wants to convince the rest of the leadership team that it’s important. They don’t get digital, he or she will tell me, so you must make … The post What is the preference: human or digital relationships? appeared first on Chris Skinner's blog.
Bank Innovation
MAY 16, 2018
The letter of credit transaction in trade finance is a relatively neglected area when it comes to digitization, which is why HSBC bank chose this transaction to test out its blockchain-related initiatives, Joshua Kroeker, blockchain lead for Global Commercial Banking Growth and Innovation at HSBC, told Bank Innovation. “The letter of credit transaction had fallen […].
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Payments Dive
MAY 16, 2018
The implementation of instant payment schemes varies across the globe.
PYMNTS
MAY 17, 2018
It’s happened again. Wells Fargo on Thursday (May 17) was facing accusations that its employees altered customer data, this time in a business banking unit, according to The Wall Street Journal. The paper, citing unnamed sources, reported that bank employees “improperly altered information on documents related to corporate customers.”. There is no evidence that any data involved creating fictitious accounts for retail consumers, as was the case in the scandal from about two years ago.
Chris Skinner
MAY 15, 2018
For some years, I’ve been heavily involved in high frequency trading and quantitative trading, areas that are highly automated and pretty complex. I don’t blog about it much here, as it’s not appealing to the everyday person. It involves too much dialogue explaining acronyms used in investment markets and acronyms … The post Why investment banks have the digital edge appeared first on Chris Skinner's blog.
Bank Innovation
MAY 18, 2018
Bank of America expects to be finished rolling out its AI-driven virtual assistant Erica by mid-summer. The bank first launched Erica in March and will continue rolling out Erica through June, according to an email sent to Bank Innovation. Here is a map of the states where Erica is live. See how Erica works in […].
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Payments Dive
MAY 15, 2018
Christie Rice, director of the worldwide global digital signage and interactive kiosk segment for the Internet of Things Group at Intel, talks about her company's work with so many of the technologies that enable interactive customer experiences of today — and tomorrow.
PYMNTS
MAY 18, 2018
In today’s digitally connected global economy, employers don’t need to think local when hiring freelancers – but thinking local still applies when paying the freelancers they employ. Gig workers , whether working for an employer in the same country or across the globe, prefer payments in their local currencies and for funds to be quickly deposited into their bank accounts.
Chris Skinner
MAY 16, 2018
I don’t know how generations think. I only know how my generation thinks, and they call my generation baby boomers. It’s a massive net that catches me, even though I feel like I’m Generation X – a punk and new romancer – but hey, marketing people need their categories. We … The post It will be all right appeared first on Chris Skinner's blog.
Bank Innovation
MAY 16, 2018
Small business loans might be small in dollar amounts, but the SMB customer may be the most profitable customers to a bank. And yet, since the credit crisis, banks have not returned to meet the expanding need for SMB loans. This has paved the way for many fintechs to fill that gap, that is, until […].
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Payments Dive
MAY 18, 2018
PayPal made the largest acquisition in its history Thursday when it announced an agreement to purchase iZettle, commonly referred to as the European Square.
PYMNTS
MAY 14, 2018
If one were to play a word association game and throw the term “cable home shopping” into the mix, more likely than not the two most frequent responses would be “QVC” or “HSN,” the two leading players in the space. Classifying them as two separate players is a bit outdated, though, since QVC’s parent firm, Liberty Interactive Corp , purchased the remainder of HSN’s parent, HSNi, in July of last year.
Chris Skinner
MAY 14, 2018
Things we’re reading today include … Singapore’s Biggest Bank Takes on China Giants in Fintech Battle Banks are already bumping up against the limits of AI in lending decisions Santander Will Roll Out New Online Bank In UK Inside Shanghai’s robot bank: China opens world’s first human-free branch Eurozone economic … The post Things worth reading: 15th May 2018 appeared first on Chris Skinner's blog.
Bank Innovation
MAY 15, 2018
The most vulnerable aspect of a bank's security is the people -- employees and customers -- or so the story goes. But four security experts came together to discuss the issue and opinions differed. For example, can you still call humans the weak link when banks fail to use the best technology? This means education […].
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Payments Dive
MAY 18, 2018
In today’s digital, on-demand world, we have instant access to information, products and services.
PYMNTS
MAY 17, 2018
Days after iZettle said it planned to seek a listing on the NASDAQ Stockholm stock exchange, PayPal Holdings Inc. has announced that it is acquiring the Swedish payments company for $2.2 billion in cash. With the deal, which may close in the third quarter, iZettle’s co-founder and CEO, Jacob de Geer, will reportedly continue on with iZettle, TechCrunch reported.
Chris Skinner
MAY 16, 2018
Things we’re reading today include … Are Apple, Amazon and Facebook the future of banking? Apps are the new bank branches and tellers Thomson Reuters to shift forex derivatives business out of London in Brexit preparation TSB accused of ‘dreadful response’ to meltdown Bank of England deputy apologises for ‘offence … The post Things worth reading: 16th May 2018 appeared first on Chris Skinner's blog.
Bank Innovation
MAY 18, 2018
Financial services are taking on the task of innovating for Generation Z, usually classified as young people from ages 2 to 19. The prime age for marketers and financiers is 11-to-16-years old as they learn about establishing credit and working with banks. Banks have deployed strategies to understand the way this digitally-native generation wants to […].
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