Sat.Jun 02, 2018 - Fri.Jun 08, 2018

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Gen Z through the mobile payments lens

Payments Dive

Gen Z is on the scene and ready to leave their own mark on banking and payments. This latest generation, born after 1999, view the world completely differently than those who have gone before.

Mobile 322
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Mastercard API for Conversational Commerce Still in the Works

Bank Innovation

PREMIUM -- This past spring, Mastercard debuted a voice-assisted ordering and payment service at Pizza Hut in Singapore with the help of Softbank’s robotics division. But an application programming interface (API) that would allow for any developer to build a Mastercard "conversational" payments application remains in development. The payments network is working on the API now, but […].

Payments 299
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Firms need business model change, not blockchain

Chris Skinner

Every now and then, someone writes something better than me and, if they’re very nice, they let me republish their content on this blog. Ben Robinson of Temenos is one of those guys. Two years ago, he wrote a great insight into banking business models and, last week, he did it … The post Firms need business model change, not blockchain appeared first on Chris Skinner's blog.

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Blockchain Will Test Investors’ Patience, Experts Say

PYMNTS

Blockchain has issued many promises in the financial services space, vowing improved efficiency, heightened transparency and unmatched security. The debate continues over whether distributed ledger technology can fulfill those promises, but analysts today say that, whether these benefits are actualized or not, markets will have to be patient to find out.

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Back to Basics with Reconciliations

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.

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Consumers Welcome New FinTech Payment Options at Unattended Terminals | Wearables | Digital Wallets | Mobile | Kiosk | Vending

Payments Dive

A new survey commissioned by Transaction Network Services explores attitudes among US, UK and Australian adults to the use of new technology when making payments at unattended terminals. Find out how many use wearables and digital wallets at unattended POS terminals, such as kiosks, vending machines, meters and more.

Survey 262

More Trending

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Are you changing the bank or just sucking-up to the CEO?

Chris Skinner

Another day talking culture, leadership and change for digital, and a fascinating review of the five things banks mess up when considering partnering. This presentation was from the Chief Digital Officer (CDO) of a major European bank. The presentation was titled How not to screw up my next partnership – … The post Are you changing the bank or just sucking-up to the CEO?

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For FinTech And FIs, APIs Everywhere (It Seems)

PYMNTS

Payments are getting ever faster and global in nature. Real-time payments are becoming part of the landscape. PSD2 is reality and open banking is fostering demand for open APIs. To that end, collaborative efforts between banks and FinTechs are on the rise, where joint programs seek to hasten the availability of technology that dovetails with open banking.

Fintech 186
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3 suggestions for the industry to "save" the Pays

Payments Dive

Apple Pay, Google Pay and Samsung Pay aren't going anywhere, but U.S. consumers are not enthusiastic about using them at the physical point-of-sale. But the industry could do some things to help bump adoption and incentivize merchants to accept NFC-enabled mobile payments.

Industry 257
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Can Technology Save Bank Branches?

Bank Innovation

PREMIUM - When was the last time you went to your bank branch to deposit money? Still thinking? That's because most of the daily banking activity has shifted from branches to the smartphone. But that's not to say people don’t use bank branches at all. They do, but not for the same reasons as they […].

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How a Managed Services Partner Can Reduce the Friction in Your RDC Program

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

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#Money2020Europe Day Two: Don’t mess with my data

Chris Skinner

My second and last day at Money2020 Europe was packed with networking, meetings, panel discussions, private events and more. Throughout the day, the themes of the first day kept bubbling over. I guess it was typified with the comment that the CEO of TransferWise announced how happy they are to … The post #Money2020Europe Day Two: Don’t mess with my data appeared first on Chris Skinner's blog.

Data 232
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Housing Supply And Demand Imbalance Drives Home Improvement Store Sales

PYMNTS

Millennials are finally moving out of mom and dad’s house and creating their own households, which has increased demand in the housing market. At the same time, supply has taken a hit due to a shortage of skilled labor. Rising mortgage rates and lumber prices are only compounding the problem. This imbalance of supply and demand is proving to be a perfect storm for home improvement chains.

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Mobile Payments Today: May's best reads

Payments Dive

It's time for a look back at last month's most-read content on the site.

Mobile 284
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3 Ways Financial Services Businesses are Using Data to Drive Innovation [SPONSORED]

Bank Innovation

Businesses produce data every second, while some of it can help an organization make data-backed decisions about business activities, much of it will sit in data warehouses never to be seen again. But some companies have become data masters and found ways to use data not just to innovate but create change within their industry. […].

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Budget Playbook for Commercial Lenders — Bank and Credit Union Edition

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.

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I found a troll!

Chris Skinner

I got called out in one review of my new book Digital Human calling it a “futurist’s wet dream”, which I thought was a bit much. The reviewer doesn’t work in finance, didn’t like my views on science fiction becoming science fact, didn’t buy into the revolutions of humanity and … The post I found a troll! appeared first on Chris Skinner's blog.

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AID:Tech And PharmAccess Deliver World’s First Blockchain Baby

PYMNTS

The first baby born on the blockchain is expected to enter the world at a small clinic in rural Tanzania this week. What does that mean – to be born on the blockchain? Has the world finally gone too far with its distributed ledger obsession? Just the opposite, Niall Dennehy, COO of AID:Tech would argue – more like it’s finally found a use case that is more practical and more noble than cryptocurrencies.

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Vendors are missing the complex cross-border B2B compliance burdens

Payments Source

The Patriot Act, for example, requires all U.S. businesses to comply with regulations issued by the Office of Foreign Assets Control. Those that fail to comply, knowingly or inadvertently, are susceptible to significant fines and even legal action, writes Peter Shore, general manager of Transpay.

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Consumers Want Fast and Easy Authentication, But Security is Top Concern

Bank Innovation

Security breaches continue to be an ever-present threat for financial institutions. Defending against attacks and authenticating customers without creating undue friction is something financial institutions have not yet completely solved. Consumers seem to be willing to use more secure methods to access their accounts, but not necessarily give up on ease and speed of transacting. […].

Security 275
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Is Your Current Card Platform Holding You Back?

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

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#Money2020Europe Day One: Will banks become ‘safes’ for data?

Chris Skinner

The good thing about blogging is that I have a public record of my thinking. Hence, I can claim that Banking-as-a-Service (BaaS) is mine. That’s because I was presenting the idea ten years ago and blogged about it in February 2009. Now, no idea is unique, and the BaaS idea … The post #Money2020Europe Day One: Will banks become ‘safes’ for data?

Data 199
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Asian Banks Want Regulators To Allow More FinTech Solutions

PYMNTS

As financial institutions grapple with compliance costs, a finance industry organization in Asia wants regulators to allow new technologies that could help them fight money laundering. For example, the Asia Securities Industry and Financial Markets Association (ASIFMA) would like to see more use of know your client ( KYC ) checks to help reduce costs, Reuters reported.

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Crypto firm Circle aims to expand into regulated banking

Payments Source

Circle Internet Financial Ltd., one of the world’s most valuable cryptocurrency platforms, is looking to make a big leap into the highly regulated realm of U.S. banks and brokerages.

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Despite the Hoopla, Most Fintech-ers Think U.S. Will Never Become Cashless

Bank Innovation

PREMIUM -- Digital payments are on the rise across the globe. In the U.S., the world’s largest economy, the use of mobile payments has increased significantly in the past two years. Add to that mix the prevalence of e-commerce and, the growing popularity of P2P apps, such as Venmo and Zelle, as well as digital banking. […].

Fintech 236
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It Takes Two to Tango

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.

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Things worth reading: 6th June 2018

Chris Skinner

Things we’re reading today include … Dutch central bank warns about the rise of the cashless society World Bank warns trade tensions could cause 2008-level crisis RBS shares sold at £2bn loss as Treasury says it is ‘unrealistic’ taxpayers will ever make profit City watchdog criticises TSB’s ‘poor’ communications ahead … The post Things worth reading: 6th June 2018 appeared first on Chris Skinner's blog.

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Citi’s Treasury Unit Embraces UK Open Banking

PYMNTS

Citi is the first corporate bank to enroll in the U.K.’s Open Banking Directory in an effort to enhance payment and collection services for business clients, the FI said Monday (June 4). Citi announced it is joining the Directory as a Payment Initiation Service Provider (PISP), enabling the bank to pilot payment and collection services for its corporate customers. “We see open banking as a significant development in the banking landscape in Europe and increasingly in other regions, a

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Six key data strategy considerations for cloud native transformation

Bobsguide

Many organizations are making the move to cloud-native platforms as their strategy for digital transformation. Cloud native allows companies to deliver fast-responding, user-friendly applications with greater agility. However, the architecture of the data in support of cloud-native transformation is.

Strategy 109
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Marqeta Sees Opportunity in Europe Thanks to $45 Million in Funding

Bank Innovation

Card-issuing platform Marqeta sees a lot of potential in working with challenger banks across Europe, and to fuel this opportunity, the Oakland, Calif.-based company took in $45 million in funding, Jason Gardner, founder and CEO, told Bank Innovation. Investors in this funding round include VC firm ICONIQ Capital and Goldman Sachs. The new round, announced today, […].

Oakland 223
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3 Ways Managed Device Services Help Community Banks Cut Costs

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