Chris Skinner
FEBRUARY 20, 2019
Name the company that strikes fear into everyone’s hearts in business? In the 1980s, it was IBM. You never get fired if you buy IBM, even though It’s a Bloody Mess. In the 1990s, it was Microsoft. Sure, Most Intelligent Creatures Realise Our Software Only Fools Teenagers, but yes, they … The post When will Amazon launch its bank? appeared first on Chris Skinner's blog.
Payments Dive
FEBRUARY 22, 2019
Retailers and others have transitioned physical coupons to the mobile space, as a way to enhance customer loyalty and engagement.
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Bank Innovation
FEBRUARY 20, 2019
Can regularly checking your credit score actually help improve your results? We wanted to know the answer to that critical question, so Credit Sesame partnered with Megan Hunter Antill and Jessica Yu, Ph.D., candidates in Quantitative Marketing at Stanford Graduate School of Business, to find out. We conducted an analysis of consumer behavior patterns and […].
PYMNTS
FEBRUARY 22, 2019
In a settlement that has been given preliminary approval by a federal court in New York, Visa and Mastercard, along with bank defendants, have agreed to provide roughly $6.24 billion in settlement funds. The funds are subject to a deduction that is said not to exceed $700 million, according to a notice authorized by the U.S. District Court for the Eastern District of New York.
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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
FEBRUARY 19, 2019
I’ve had a lot of conversations with bankers and technologists, and realised something recently. That realisation is a simple but important one, and it is this: dealing with technology is very different to dealing with money; furthermore, dealing with money through technology is very different to dealing with technology through … The post Are you in banking or technology?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
FEBRUARY 22, 2019
AI is all the buzz in financial services right now, but only a little over one in 10 FIs around the world said they are gaining “significant value” from it, at least according to one recent survey. In a study titled Competing in the Cognitive Age: How companies Will Transform Their Businesses & Drive Value […].
PYMNTS
FEBRUARY 20, 2019
There are markets and there are $100 trillion markets. And might digital payments be in that $100 trillion classification? In an interview with CNBC, PayPal CEO Dan Schulman estimated the market will come into that size, noting, “That’s sort of the market — total adjustable market — we’re playing into.” He said that his firm may have as much as 1 percent to 2 percent of the market currently.
Chris Skinner
FEBRUARY 17, 2019
It’s not often that the Twittersphere I watch lights up in deep conversation, but a long one started last week thanks to JP Morgan’s announcement of the JPM Coin. Falsely labelled a cryptocurrency, loads of headlines emerged about JPM killing XRP, the currency of Ripple. Here’s a decent piece of … The post Is JPMCoin a cryptocurrency and what should SWIFT do about it?
Payments Dive
FEBRUARY 21, 2019
In Part II of a blog series, Steve Villegas addresses how payments fraud impacts cross-border ecommerce.
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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
FEBRUARY 21, 2019
Keeping your money in a bank is common sense at this point, but online banking is – unfortunately – not something many people have grown accustomed to, yet. There are many benefits to explore in this area, and it’s not a bad idea to check out what some online banking services can do for you […].
PYMNTS
FEBRUARY 20, 2019
Adyen, the payments platform, announced Wednesday (Feb. 20) it has launched a new payment service that is powered by open banking. In a press release, the company said it launched an alternative to card payments that takes advantage of the European Union’s Payment Service Directive (PSD2) requirement for banks to create APIs for third parties to initiate payments on behalf of consumers.
Chris Skinner
FEBRUARY 19, 2019
I’m just reading a new book recommended by a banking friend AI Superpowers: China, Silicon Valley, and the New World Order by Kai-Fu Lee, and the opening got me thinking. Kai-Fu refers to the Google AI machine AlphaGo that beat Ke Jie, the world’s best Go player, as a sputnik … The post AI wars appeared first on Chris Skinner's blog.
Payments Dive
FEBRUARY 18, 2019
FSS award-winning Secure3D, modelled on EMVCO 3D Secure 2.0 guidelines,, transparently authenticates card not present transactions.
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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.
Bank Innovation
FEBRUARY 19, 2019
The 12 startups demoing to try to win the “best in show” award at Bank Innovation Ignite have been unveiled. The startups are:[link] Avocado Payments, Budgit Inc., Community Capital Technologies, Denizen Financial, Diro Inc., Exagens Corp., Fintel Labs, iGTB, JUDI.AI, KapitalWise, OpenDoor Securities, and Operant.AI Six of the startups come from INV Fintech, this website’s sister […].
PYMNTS
FEBRUARY 19, 2019
NACHA, the steward of the ACH Network, announced Tuesday (Feb. 19) that last year was a milestone year for the ACH Network with payment volume climbing to close to 1.5 billion payments. In a press release , NACHA said it is the fourth year in a row that the ACH Network added more than 1 billion new payments. “The results for 2018 make clear that the ACH Network is vibrant and continues to be a vital component of the nation’s economic engine,” NACHA Chief Operating Officer Jane Larimer said in th
Chris Skinner
FEBRUARY 21, 2019
Another interesting nuance of the FinTech Bank is the integration of business and technology. I’ve referenced this a few times, but wanted to be explicit that these banks think technology is business and business is technology. This is clearly demonstrated in their microservices team structures and agile thinking. Auditors, compliance, … The post Technology is business appeared first on Chris Skinner's blog.
Insights on Business
FEBRUARY 22, 2019
You have the mission to grab territory. You called in the lieutenants to devise a strategy. The Air Force general makes a strong case to efficiently blanket the territory with air campaigns. The Army favors the tried-and-true approach of gaining ground inch-by-inch. Banks hoping for growth are faced with a similar dilemma. Banking is undoubtedly becoming more digital.
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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
Bank Innovation
FEBRUARY 19, 2019
The U.S. is making a more organic shift toward open banking concepts than what is seen in Europe, where the Revised Payment Service Directive, or PSD2, is outright requiring it. Innovation, collaboration, and competition are rapidly shaping the open banking ecosystem in the U.S., according to Ernst and Young’s Open Banking Opportunity Index, released in […].
PYMNTS
FEBRUARY 22, 2019
The relationship between FinTechs and banks has been complicated, with relatively young upstarts competing with established financial institutions in a new and growing world of digital payments and commerce. But, in fact, banks and FinTechs may make for the perfect marriage, as each works to leverage their unique strengths and opportunities. FinTechs, especially younger firms, might have robust technology as well as strong solutions to problems.
Chris Skinner
FEBRUARY 16, 2019
The main blog headlines are … 39 FinTech Unicorns Valued at $147.37 billion I spotted an article by Linus Beliunas on LinkedIn this week, and liked it so much that wanted to share. Enjoy! 39 FinTech Unicorns Valued at $147.37 billion 2018 was a phenomenal year for FinTech. Over a … The post The Finanser’s Week: 11th February – 17th February 2019 appeared first on Chris Skinner's blog.
Ron Shevelin
FEBRUARY 19, 2019
Big Tech isn't a threat to banks--it's an opportunity. Big Tech will become a new distribution channel, a new battleground for banks to compete on.
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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.
Bank Innovation
FEBRUARY 19, 2019
The year 2018 was a great year for fintech funding across the globe. This is true not only because the total funding was high, but also because there were more investors in fintech than in years before. In fact, a new report by CB Insights showed there were about 2,745 investors in 2018, representing a five-year high. […].
PYMNTS
FEBRUARY 19, 2019
To streamline FinTech, and to help consumers and businesses transact in the ways they desire, firms must move beyond the silo approach. FinTech still exists as a fragmented market, where businesses striving to offer payment services to end users pick and choose among providers, integrate with those providers, and must often navigate across complex technological and regulatory hurdles as they expand into new markets.
Chris Skinner
FEBRUARY 21, 2019
Things we’re reading today include … HSBC banking head to quit months after scathing memo Cryptocurrency companies use ‘backdoor’ listings to ease into mainstream Labor will allow bank victims to reopen cases and lift claims cap to $2m Barclays pledges to return more money to shareholders Bankrupt businessman set fire … The post Things worth reading: 22nd February 2019 appeared first on Chris Skinner's blog.
Bobsguide
FEBRUARY 20, 2019
Regulatory support in Latin America is “an amazing sign” for firms aiming to ride the wave of a booming fintech space in markets like Mexico and Brazil, according to ID Finance CEO, Boris Batine, though new entrants need to be ready to tackle new risks. “China was exciting, but.
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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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