Chris Skinner
MARCH 31, 2019
We all got hugely excited about Apple launching a credit card with Goldman Sachs and Mastercard last week. Whoopy-doo! This was a major lift for Mastercard in particular. As Wedbush’s Moshe Katri noted payments on the card will be processed by Mastercard using “Mastercard’s token and M-chip technology, which allow … The post Alipay and Visa announce global QR code venture appeared first on Chris Skinner's blog.
Payments Dive
APRIL 2, 2019
Millions of Chinese consumers are using mobile payments as their favored method shopping and funds transfer and retailers should leverage that opportunity.
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Bank Innovation
APRIL 4, 2019
AMSTERDAM -- The algorithms are starting to add up at Temenos. The Geneva, Switzerland-based banking technology company will add up to 15 algorithms for artificial intelligence before yearend. This goes with the 20 or so AI algorithms the company already has available for its clients. Not all of those 20 algorithms, however, are available for […].
PYMNTS
APRIL 1, 2019
When it comes to online shopping, one of the greatest frustrations for consumers — and friction points for merchants — is having to manually enter credit or debit card information for each purchase. It’s no wonder that 78.9 percent of consumers today have account information stored online with at least one or more companies or service providers. In the latest Mobile Card Services Playbook , a collaboration with Ondot , PYMNTS surveyed more than 9,500 U.S. consumers to get a better understanding
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Chris Skinner
APRIL 2, 2019
I find it interesting when I read perspectives on FinTech, money and banking. Going digital, getting rid of branches, becoming cashless seem to be the main themes, and yet this ignores that every part of the world is different. It’s hard to go digital if the country has little infrastructure; … The post Time for a global FinTech platform? 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
APRIL 3, 2019
Mastercard’s tokenization technology made the digital-first Apple Card possible, but purely from a technological standpoint, Jorn Lambert, EVP, Digital Solutions at Mastercard, told Bank Innovation. It was the evolution of consumers' and merchants' preferences in how they make and receive payments that made the card a reality. Apple last month unveiled its plans to launch […].
PYMNTS
APRIL 2, 2019
Wells Fargo announced Tuesday (April 2) the launch of contactless consumer credit and debit cards. In a press release , Wells Fargo said the new cards will enable customers to complete transactions quickly and with a single tap at millions of merchants and transit systems that accept contactless payments. The bank said it will enable customers to tap to initiate an ATM transaction at more than 13,000 ATMs around the country later this year.
Chris Skinner
APRIL 4, 2019
I find life interesting. Themes recur over and over and over again. Will big banks survive? When will we, will we be cashless? Oh when, will we, will be branchless? Can we really replace the City with a trading network of algorithms? And more. One of my favourite recurring themes … The post Who owns the data? Who’s in control? appeared first on Chris Skinner's blog.
Payments Dive
APRIL 4, 2019
Tableside payment in the restaurant industry has been a growing trend, yet there still remain obstacles to wider acceptance by consumers.
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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.
Bank Innovation
APRIL 5, 2019
U.S. commercial banks are increasingly looking to fintechs to improve customer experience. In fact, a new Fraedom report shows that 73% of U.S. commercial banks are considering new fintech partnerships for improving either customer experience or security, and in some cases -- both. Customer experience has increasingly become a central theme in banking, both retail […].
PYMNTS
APRIL 5, 2019
With U.S. gig workers accounting for more than $1.4 trillion in income by the end of 2018, it’s safe to say the gig economy is becoming a mainstream part of the global economy. From ridesharing drivers to freelance designers and consultants, an increasing share of gig workers are pursuing specialized jobs, often juggling multiple at once. In fact, the share of those in the gig economy with highly specialized skills rose to 32.3 percent in Q4 2018 — a 12.2 percent increase over the previous quart
Chris Skinner
APRIL 3, 2019
I was in conversation with a banker the other day and we got around to regulations and regulators, as many conversations with banks tend to do. There were some interesting reflections in that dialogue, however. I guess it falls into three categories: the way regulations used to be; the way … The post Time for a global regulator appeared first on Chris Skinner's blog.
Payments Dive
APRIL 5, 2019
FSS Payment Gateway processed USD18.8B in transaction value in 2018, an approximate 58% of India's e-commerce traffic.
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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
APRIL 5, 2019
Roberto Sallouti feels like he just went through college all over again. The 47-year-old chief executive officer of Banco BTG Pactual SA, a fixed-income trading veteran, said he spent the past four years digging into subjects such as cloud computing, performance marketing and data-analytics metrics. His schooling was to help with the bank’s push into […].
PYMNTS
APRIL 2, 2019
The gig economy is growing. The desire to get paid faster is also gaining traction — along with the companies satisfying that desire. To that end, Visa announced Tuesday (April 2) that it has introduced Card Payouts, an app designed help mid- to large-sized businesses manage cash flow — and speed payments to gig economy workers, to boot. (Call it killing the check — and you may remember our own research, where 85 percent of gig economy workers surveyed said they would work more if they could get
Chris Skinner
APRIL 4, 2019
Things we’re reading today include … Europe’s zombie banks Biometrics may answer your security concerns – but don’t forget privacy | Gene Marks Tesla CEO Elon Musk in ‘clear violation’ of SEC restraint, court hears Billionaire JP Morgan chief attacks socialism as ‘a disaster’ Tradeweb IPO delivers $1bn bounty for Wall … The post Things worth reading: 5th April 2019 appeared first on Chris Skinner's blog.
Bobsguide
APRIL 2, 2019
For digital transformation to be a success, collaboration is crucial. While technology enables new ways of working, collaboration is the key catalyst to moving the dial on digital transformation programme success. Digital-first, customer-centric financial institutions that have achieved harmony.
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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
APRIL 5, 2019
Jamie Dimon’s annual letter to shareholders, published this week, would indicate that if the JPMorgan Chase CEO wasn't a believer in the potential for artificial intelligence and machine learning to improve banking, he is now. “The power of artificial intelligence and machine learning is real,” he declared. Noting that the bank recently sent a senior […].
PYMNTS
APRIL 2, 2019
PayPal has invested in a blockchain company for the first time — one that’s focused on using the technology to help give users greater control over their digital identities, according to reports. The company is called Cambridge Blockchain, and PayPal participated in a Series A funding round. The company has raised $3.5 million in equity from several different investors, which follows a previous $7 million, bringing the total to over $10 million raised so far.
Chris Skinner
APRIL 3, 2019
Things we’re reading today include … Bank of England governor Mark Carney: Risk of no-deal Brexit now ‘alarmingly high’ Santander introduces tailored fraud warnings on banking app Over 40 Central Banks Are Considering Blockchain Currencies Brits far more likely to switch energy provider than bank account Barclays executive David Pomphret … The post Things worth reading: 4th April 2019 appeared first on Chris Skinner's blog.
Bobsguide
APRIL 5, 2019
Open Banking is being forced onto consumers when they haven’t been taught what the benefits might be, and banks must take responsibility for educating their customers before widespread adoption can be expected. “We need to remember a few things about customer demand,” said Simen.
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Bank Innovation
APRIL 4, 2019
B2B payment solutions firm Bento for Business today announced it has added Visa Business debit cards to its modular financial operating platform, enabling small- and mid-size businesses to better manage and optimize their cash flows. The companies said the integration of Visa’s debit cards will give the card provider's roughly 30 million SMBs access to […].
PYMNTS
MARCH 31, 2019
The FBI has announced a directive shift away from counterterrorism and toward fighting the increasing threats from cyber attacks, according to a report in The Wall Street Journal. The move comes amid an ecosystem of attacks from foreign countries, like Russia and its election meddling and China’s cyber attacks against U.S. businesses. The Navy also recently reported that it was under siege by Chinese cyber attacks, and FBI Director Christopher Wray said all 56 bureau field offices have open inve
Chris Skinner
APRIL 1, 2019
For those fooled by yesterday’s spoof news about Alipay and Visa, did you notice it was April 1? If not, you should have clicked the link in the blog. Talking about spoof news, I think my blog Blockchain is dead upset a few blockchain enthusiasts. Don’t get me wrong, as it’s … The post UPDATE: The Blockchain Hype is Dead! appeared first on Chris Skinner's blog.
Bobsguide
APRIL 1, 2019
Fraud continues to be a problem for consumers and the banking industry. According to Javelin Strategy & Research in 2017, 16.7m people were victims of identity fraud and they lost an estimated $16.8bn. The Consumer Sentinel Network, maintained by the Federal Trade Commission (FTC), found.
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