Chris Skinner
MARCH 5, 2019
I’ve talked a little about TechFin in the past but, in my presentations, I talk more and more about TechFin versus FinTech. FinTech is doing what we’ve always done, cheaper and faster and better with technology. TechFin is reimagining everything with no idea of what’s been before with technology. It’s a … The post Are banks customer focused? appeared first on Chris Skinner's blog.
Payments Dive
MARCH 5, 2019
The increased use of mobile apps in e-commerce, banking and corporate payments is forcing cyber experts to shift tactics and technologies to protect vulnerable endpoints from malicioius attacks.
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Bank Innovation
MARCH 6, 2019
Two real estate tech players, Compass and OpenDoor, each rather quietly raised $400 million from SoftBank in 2018, a year that included announcements like Credit Karma’s $500 million investment from Silver Lake and Plaid's $250 million raise that made it a unicorn. Meanwhile, JPMorgan Chase, Goldman Sachs and Citigroup all invested in real estate startups last […].
PYMNTS
MARCH 4, 2019
Pharmacies and the delivery of prescription medication are both undergoing significant change, and much of the credit for that can be directly or indirectly attributed to the rise of eCommerce and digital payments. The latest development? The deployment in South Africa of what some observers are calling ATMs for medicine. A recent report from the Financial Times offers one of the better descriptions of the project, meant to ease certain pressures on the South African healthcare system and provid
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Chris Skinner
MARCH 4, 2019
We were having a debate about brand loyalty in a mobile world. The discussion began with talking about how it used to be complex with dealing via branch and call centre; then it was branch, call centre and online; now, it’s branch, call centre, online and mobile. How do you … The post Will bank brands survive in this digital world? 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 8, 2019
"Flexibility" is a commonly used term when it comes to innovation in banking and finance, but the typical bank boardroom hardly evokes the image of openness to technological change. Mike Sha, co-founder and CEO of B2B software firm SigFig, told Bank Innovation he’s seeing a changing of the guard, or at least a softening of […].
PYMNTS
MARCH 4, 2019
To help keep the prices of food and drinks low, the Mercedes-Benz Stadium in Atlanta is about to become cashless. Only credit cards, debit cards and mobile payments will be accepted at the venue beginning on March 10, Bloomberg reported. With the change, the costs of working with cash, such as reconciliation and physical cash drawers, are said to be removed.
Chris Skinner
MARCH 3, 2019
I just had a week down-under in the land of the roo, and discovered that the RBA – Reserve Bank of Australia – has done an about turn in the last couple of years and encouraged some innovation in banking (at last!). As a result, I was pleasantly surprised to … The post A land down under … can you hear the banks thunder? appeared first on Chris Skinner's blog.
Payments Dive
MARCH 8, 2019
A new Paytronix integration with Zenreach is helping Anthony's Coal Fired Pizza get a better handle on customer data.
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Bank Innovation
MARCH 8, 2019
Online payroll company Gusto is scaling its security team, starting with the appointment of Square's former head of information security, Frederick Lee, as its chief security officer. The move comes as Gusto lays the foundation for a potential initial public offering (IPO). "With hiring Lee, we are taking another step towards a likely IPO three […].
PYMNTS
MARCH 7, 2019
Lawmakers in Philadelphia have passed a ban on cashless stores, making it the first major city in the U.S. to do so, according to a report by The Wall Street Journal. The new law will take effect in July and would require most retail outlets to accept physical currency. New Jersey recently passed a similar law and New York City is on the path to doing so as well.
Chris Skinner
MARCH 7, 2019
I go around a lot of banks and am always struck by their similarities and differences. To be honest, there are more similarities than differences. Most have big corporate offices, with great views over their home cities; their branches are now well-lit stores with open counters; and their apps all … The post It’s only words … why values and missions are questionable appeared first on Chris Skinner's blog.
Insights on Business
MARCH 6, 2019
“AI is not going to replace managers, but managers who use AI will replace the managers who do not,” Rob Thomas, IBM General Manager of Data and AI predicted at IBM Think 2019. [1] A 16 trillion dollar opportunity, AI will fundamentally change every business process, every role, and how organizations will impact their industries. AI implementation grew by 270% in the past four years, and 37% in just the past year, according to a 2019 Gartner study.
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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 4, 2019
Fintech partnerships provide the greatest value in creating a better customer experience, according to 30% Bank Innovation's February poll takers. Of the 90 poll-takers, 27 people responded with this answer. Virtual Assistants are one way in which fintechs can help banks to improve customer experience. Driven by AI, virtual assistants allow customers to conduct simple daily transactions […].
PYMNTS
MARCH 7, 2019
The gig economy has changed — and is still changing — when we work, how we work and, of course, how we get paid. Readers of this space may recall some stats at the end of last year, where the PYMNTS Gig Economy Index found that as many as one-third of workers in the U.S. have participated in the gig economy — and 85 percent would do more work if they were paid faster.
Chris Skinner
MARCH 6, 2019
There’s a lot of talk about trust when you meet with people in finance. Customers trust us with their money … there is trust in banks … we are trusted when it comes to advice … our brand is a trusted brand. I usually keep quiet as most of that … The post Trust me, I’m a banker … appeared first on Chris Skinner's blog.
Payments Dive
MARCH 4, 2019
Interactive, Intelligent, Immersive Banking Experiences
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Bank Innovation
MARCH 4, 2019
Lisa Shields, founder and CEO of FI.SPAN, a cloud-based API services management platform, says banks don’t necessarily need to cede ground to fintechs to stay ahead of the curve, particularly in business banking. “Certainly, we're way beyond banks versus fintechs, but we're now about when and how banks should leverage fintechs,” Shields told Bank Innovation. […].
PYMNTS
MARCH 6, 2019
Global payments and receivables company Flywire enjoyed strong growth in 2018 that it plans to carry into this coming year and over $10 billion in total payments volume. Some of the company’s achievements last year included raising $100 million in new funding, expanding its presence in Asia-Pacific and EMEA and making significant gains in both regions.
Chris Skinner
MARCH 3, 2019
The main blog headlines are … How to be a Unicorn (Part One) Marko Wenthin, co-founder of solarisBank, recently contributed to my blog and, as a mate, has sent some great insights about starting up a FinTech firm which I thought I would share of FinTech banks last week. How to be … The post The Finanser’s Week: 25th February – 3rd March 2019 appeared first on Chris Skinner's blog.
Payments Source
MARCH 5, 2019
As companies invest heavily in artificial intelligence and other high-tech defenses, it is becoming more apparent that criminals are investing in equally powerful technology.
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Bank Innovation
MARCH 7, 2019
SETL, a London-based blockchain startup with a former Bank of France governor on its board and Credit Agricole SA among its investors, appointed administrators to reorganize the business. A corporate insolvency notice for the company was filed in the London Gazette on Thursday, less than two months after it announced the appointment of former French […].
PYMNTS
MARCH 7, 2019
Ant Financial Services Group and Jiangsu-based Hoperun Information Technology announced Wednesday (March 7) a new banking product aimed at financial institutions. In a press release , the companies said the new banking product dubbed Distributed Core Banking Platform (DCBP) helps financial firms move their business models to customer-oriented models and away from transaction-oriented models.
Chris Skinner
MARCH 5, 2019
Things we’re reading today include … More people to join ‘ultra-rich’ than finish London Marathon UK cash system ‘on the verge of collapse’, report finds Brexit won’t bother the City – but everyone else should worry | Nils Pratley Investors urge HSBC to close coal loophole in energy policy Suits and … The post Things worth reading: 6th March 2019 appeared first on Chris Skinner's blog.
Payments Dive
MARCH 8, 2019
Cash Flow Solutions President Shawn Princell discusses how the 20-year-old fintech has transitioned from a check business to a white label API.
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