Chris Skinner
MARCH 19, 2019
A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking. Now, I read more and more about embedded banking, contextual banking, frictionless banking and more, and I … The post The true meaning of Open Banking appeared first on Chris Skinner's blog.
Payments Dive
MARCH 19, 2019
The blockbuster acquisitions of First Data and Worldpay in recent months reflect a serious turn towards globalization in the payments industry and will likely result in continued consolidation, according to experts.
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Bank Innovation
MARCH 20, 2019
It’s time to move beyond merely presenting data and toward helping customers take informed action on their finances with that data, according to Jonas Karles, co-founder and COO of Minna Technologies, a PFM provider for subscription and recurring payment management. “We've done the pie chart thing,” he told Bank Innovation. “We have seen how we […].
PYMNTS
MARCH 18, 2019
Is there a right way and wrong way to innovate? For banks interested in transforming their brick-and-mortar branches, maybe, according to Diebold Nixdorf Senior Director of Advisory Services Chris Gill. Gill asserts that most financial institutions, left to their own devices, may end up following a less than optimal path to innovation, and not because they have selected the “wrong” technology solution, since in Gill’s experience, what’s “wrong” for one FI might be right for another.
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Chris Skinner
MARCH 19, 2019
A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking. Now, I read more and more about embedded banking, contextual banking, frictionless banking and more, and I … The post The true meaning of Open Banking 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
MARCH 19, 2019
Alternative underwriting software provider ZestFinance today launched an AI-based tool it claims will dramatically reduce bias in lending. Founder and CEO Douglas Merrill, a former Google CIO, told Bank Innovation that ZAML Fair, an add-on to the company's existing ZAML (Zest Automated Machine Learning) platform, is a new algorithm that lenders can use to tune […].
PYMNTS
MARCH 18, 2019
Fidelity Information Services ( FIS ), a global financial services technology company, announced Monday (March 18) it is merging with Worldpay , the global eCommerce and payments company, in a roughly $35 billion dollar deal. In a press release , FIS said the deal expands its capabilities by enhancing its acquiring and payment offerings. For Worldpay, it expands its distribution footprint and accelerates its entrance into new regions.
Chris Skinner
MARCH 19, 2019
I can understand why bankers can be sceptical about what technologists say. For years, technologists have been telling them that their business is threatened by technological change. They’ve been shouting that they will be disintermediated; they say that the bank must change and change fast to keep up; they argue … The post The bank CIO sees most tech firms as blah, blah, blah appeared first on Chris Skinner's blog.
Payments Dive
MARCH 22, 2019
David Jones sits down with Mark Bunney, director of market strategy at Ingenico, to explore the global payments business and a world in flux
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Bank Innovation
MARCH 21, 2019
Rapid prototyping and an innovation-oriented mindset are two characteristics that make a bank a good fintech partner, according to panelists at the Bank Innovation Ignite 2019 conference in Seattle last week. The shorter the time a bank takes to work with a fintech from proof of concept to time-to-market, the better, Rob Guilfoyle, CEO of […].
PYMNTS
MARCH 20, 2019
Amazon Pay is a well-established payment method across online commerce — and not only because it’s the home payment method of the largest, most successful eCommerce platform in the U.S. Amazon Pay also has a rich and full existence outside of its website, as scores of merchants around the world and web have made Amazon Pay available as a payment method.
Chris Skinner
MARCH 21, 2019
Watching the debacle of the #Brexit debate in Britain, you might think that the UK is in a national meltdown. According to a survey on the front of Metro this week, 9 out of 10 Brits think that the political handling of Brexit is a national humiliation. I must admit … The post Deutsche Bank and Commerzbank: the sick dogs of Europe #Brexit appeared first on Chris Skinner's blog.
Payments Dive
MARCH 22, 2019
In the white paper, we explain how telco partnerships are an organic match for digital publishers to grow their user base and revenue.
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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.
Bank Innovation
MARCH 22, 2019
Bank of America's virtual assistant Erica has crossed 6 million users, representing growth of over 29% in the past three months. Considering BofA's 26.4 million active mobile users, the number of customers using Erica's might seem small, as only 22% of mobile customers use Erica. But this should not be seen as representative of customer […].
PYMNTS
MARCH 19, 2019
Instagram has launched a checkout feature designed to help the social media platform become a more attractive place for consumers to buy retail products, and to capture more sales via what is coming to be known as contextual commerce. The launch of Checkout by Instagram includes participation by PayPal and its retail partnership program , signaling its further expansion into eCommerce payments.
Chris Skinner
MARCH 20, 2019
One of the greatest challenges in digital transformation is the cultural change, that has to be led with passion and commitment from the top-down. As I’ve already mentioned, that means a Board mandate and the Chair and CEO being fully on board. But what about the C-team? And the level … The post The Art of the Corporate War appeared first on Chris Skinner's blog.
Payments Dive
MARCH 21, 2019
Galileo announced significant company growth and an expanded portfolio of payments and cash management solutions that increases business opportunities for its clients.
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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.
Bank Innovation
MARCH 22, 2019
Chinese conglomerate Tencent missed the mark overall in the fourth quarter of 2018, but its WeChat Pay showed significant growth, particularly as the number of merchants actively transacting on the platform was up 80% year-over-year. WeChat and its local version, Weixin, reached about 1.1 billion monthly active users, driven in part by the platform's payment […].
PYMNTS
MARCH 22, 2019
Singapore-based FinTech startup InstaReM , which enables banks and consumers to send money across borders , announced a partnership with First Data to assist businesses that issue corporate credit cards. The partnership will combine InstaReM’s digital payments and remittance solution with First Data’s debit processing solution for businesses like corporates and FinTech firms that need to issue cards to employees, vendors or consumers.
Chris Skinner
MARCH 21, 2019
Watching the debacle of the #Brexit debate in Britain, you might think that the UK is in a national meltdown. According to a survey on the front of Metro this week, 9 out of 10 Brits think that the political handling of Brexit is a national humiliation. I must admit … The post Deutsche Bank and Commerzbank: the sick dogs of Europe #Brexit appeared first on Chris Skinner's blog.
Ron Shevelin
MARCH 18, 2019
The traditional definition of "community" was a geographic construct, referring to a town, a county, or some other geographic region. The new definition of community is based on affinity, not geography.
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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
MARCH 21, 2019
Citi Ventures led a $28 million Series C equity round for client management platform HoneyBook, the company announced today. The San Francisco-based fintech startup also announced it has surpassed $1 billion in bookings through its platform, which enables small businesses and freelancers to streamline processes from capturing leads and delivering proposals to sending invoices and […].
PYMNTS
MARCH 18, 2019
“Connect the dots” is used as a metaphor for describing how a series of discrete events can explain a “big picture” – often high-impact – action or outcome. Steve Jobs, in his very famous 2005 Stanford commencement address , said connecting the dots was only possible with hindsight, by looking in the rearview window at the series of things that had happened over the course of one’s life to explain the actions of the here and now.
Chris Skinner
MARCH 18, 2019
I’ve written quite often about Sexism in the City and am intrigued by discussions of diversity, or the lack thereof, in both banking and technology. Google and more have been told they’re not hiring enough women, and Amazon’s AI engine recently trained itself to ignore women’s applications based on historical hiring. … The post Women in FinTech: do you care?
Insights on Business
MARCH 18, 2019
The recently revealed $8.8 billion Troika Laundromat offshore money laundering scandal was a vast and complex deception. Not just a limited scheme, between 2006 and 2013 it facilitated fake trade deals, reinsurance fraud, tax evasion, hidden investments, a fuel pricing fraud scheme at Sheremetyevo Airport—and much more. The Organized Crime and Corruption Reporting Project and other news organizations are publishing the details.
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