Chris Skinner
MARCH 13, 2019
Being British with a British accent, everyone asks me about what life will be like with Brexit … and my answer is that I have no idea. I can see that the country is divided, and we have real issues, but then don’t most countries? I can also see that … The post What does the #Brexit vote mean for banking and fintech? appeared first on Chris Skinner's blog.
Payments Dive
MARCH 14, 2019
Katie Kochelek, marketing specialist at Frank Mayer and Associates, Inc., shares insight on what experts expect to come this year with point-of-purchase.
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Bank Innovation
MARCH 14, 2019
When it comes to innovation, banks in 2019 should look to partner first, buy second and lastly build, Jeremy Balkin, head of innovation at HSBC Bank USA said at BI Ignite 2019 in Seattle earlier this week. It makes more sense for banks to make a strategic investment in fintech companies than to try and build […].
PYMNTS
MARCH 14, 2019
Sephora, the beauty retailer, announced on Thursday (March 14) the launch of a new credit card program. The company said in a press release that starting in the spring, it will offer the Sephora credit card, Sephora Visa® credit card and Sephora Visa Signature® credit card to its retail customers. The credit cards will provide customers with more ways to earn rewards for their purchases, the retailer said in the release.
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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
MARCH 11, 2019
I got a large number of pings over the weekend to read and comment on an article on Medium by Lance Ng headlined: Facebook Plans to Become World’s Biggest Central Bank? It is a conjectured article that takes the story from The New York Times discussing Facebook creating its own … The post Will Facebook become the world’s central bank? 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 15, 2019
For most of the past decade, the fintech sector seemed to have nothing but blue skies ahead. But over the last 12 months, warnings that first signaled in 2016 have been flashing brighter. CEO scandals, pulled IPOs and sinking stock prices, have taken the luster off previously high-flying brands. Big banks have finally woken up […].
PYMNTS
MARCH 12, 2019
Digital banking customers of today aren’t looking for the bank with the newest features — they’re looking for the bank that can keep their data safe. Any security mishap can send customers to one of the other digital banking apps that are ready and waiting for them. In the new Digital Banking Tracker , PYMNTS examines the ways digital banking is changing as security measures grow more stringent, and challenger banks look to amass more customers.
Chris Skinner
MARCH 14, 2019
I’ve mentioned quite often that you cannot sort out all of the banks systems and structures overnight. It has to be a slow burn and often takes more than five years. It also appears to take place in three phases. The first phase is to sort out the basics. If … The post Transforming the bank: three phases of change appeared first on Chris Skinner's blog.
Payments Dive
MARCH 12, 2019
Blockchain, cryptocurrency, bitcoin: These terms can often be highly confusing to those not in some level of the IT industry. Ray Wiley, CEO and co-founder of Hot Head Burritos and Rapid Fired Pizza helped bring some clarity to these topics during a session at the Restaurant Franchising & Innovation Summit.
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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
MARCH 14, 2019
Customers increasingly expect banks and other financial institutions to meet them where they are with full functionality, said panelists at Bank Innovation Ignite 2019 in Seattle on Tuesday. Alex Carriles, Head of Online Banking at BBVA Compass, said although the bank’s app had won numerous awards for functionality, there were also numerous customer complaints about […].
PYMNTS
MARCH 12, 2019
Innovation has always been important for community banks, but the driving force of digitization over the last decade has greatly sped up the pace, said Kevin Tweddle, chief innovation officer for the Independent Community Bankers of America ( ICBA ). That push, he noted, hasn’t come from within the financial services industry proper, but primarily from the so-called “GAFA group” of Google, Amazon, Facebook and Apple — and the many ways they’ve made doing business simpler and smoother for consume
Chris Skinner
MARCH 13, 2019
There are five camps out there. The first is the FinTech camp. This camp sit around the campfire and go “down with banks, down with banks”. They believe banks are out-dated legacy firms who have no idea about the modern age of technology. They believe banks are money-grabbing Shylocks, purely … The post Which camp are you in? appeared first on Chris Skinner's blog.
Bobsguide
MARCH 11, 2019
Banks are turning to machine learning and other advanced technological protocols to protect consumers in the escalating fraud arms race, as legacy systems creak under the digital burden - market participants and commentators say. “As banking has entered the online and mobile channels, so.
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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
MARCH 11, 2019
Fintech funding is significantly on the rise. CB Insights' 2018 Q4 report showed a $21 billion, or 120% total increase in fintech funding from 2017 to 2018. And already this year, there have been several notable funding rounds. Here are three noteworthy investments from the past week that caught Bank Innovation’s attention: 1: Chime Raises $200 […].
PYMNTS
MARCH 15, 2019
Here’s an exercise that may come off as too academic – like a debate over how many angels fit on a pinhead – but is really among the most vital for not only PYMNTS readers, but pretty much any other business operators: What is the perfect payments experience? That question formed a hook for a recent PYMNTS discussion between Karen Webster and Kurt Bilafer, executive vice president and chief revenue officer at Yapstone.
Chris Skinner
MARCH 10, 2019
This is an old but true story of my very own. Back in the day, I worked for a computer firm that had a unique piece of hardware and software called the Contents Addressable File Store, or CAFS for short. I was the marketing manager for this remarkable piece of … The post What is better: some job or no job? appeared first on Chris Skinner's blog.
Insights on Business
MARCH 11, 2019
In the span of a just few years, artificial intelligence (AI) has gone from a niche, relatively abstract concept, to entwining itself in multiple aspects of our daily lives. AI has found applications such as how we avoid traffic while navigating the physical world, to how we search for products online, to how we interact with virtual assistants in our homes and on our mobile phones.
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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
MARCH 15, 2019
The need for speed is here to stay. Customer demand is driving FIs to move to a realtime payments system, and quickly, according to panelists at the Bank Innovation Ignite 2019 conference in Seattle this week. "The payment systems that we all run today, they've worked and they've been rock-solid," said Matt Wilcox, SVP of […].
PYMNTS
MARCH 15, 2019
Anxieties that automation will replace humans have waned in the accounting sector, as industry players begin to realize that technology can actually help accountants play a more important role for their small business (SMB) customers as advisors and guides, rather than replacing their roles outright. With the first tax season post-tax reform nearing completion in the U.S., the small business accounting sector has seen even more evidence that the advisory role of SMB accountants remains of promin
Chris Skinner
MARCH 12, 2019
Things we’re reading today include … Wells Fargo’s CEO says the bank has changed. Congress isn’t so sure Deutsche Bank’s Arranged Marriage Gets Shove From ECB Sweden Wants a Bank Tax That ‘Really Hits’ the Right Targets NatWest trials fingerprint debit cards to remove £30 limit Brexit fallout on UK … The post Things worth reading: 12th March 2019 appeared first on Chris Skinner's blog.
Insights on Business
MARCH 11, 2019
In my travels to clients, I hear many war stories. Recently, these have come from new clients with recent wounds. These wounds often go deep – there are tales of long days, lost weekends, and swaths of frustrated team members. I am reminded of the Greek fable of Sisyphus , who discovered and shared the secrets of the gods with others, punished by being chained to a giant bolder, forced to push it up a hill each day, only to roll down, and start back over.
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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 12, 2019
Identity proofing and verification startup Diro Labs won the DEMOvation Challenge today at Bank Innovation Ignite 2019 in Seattle. In addition to bragging rights, the company will receive admission to the INV Fintech Accelerator and an advertising package on Bank Innovation. Vishal Gupta, co-founder and CEO of New Dehli, India-based Diro, said his company solves […].
PYMNTS
MARCH 14, 2019
Volatile times make for sleepless nights for corporate executives, particularly those whose job it is to manage the cash positions of their organizations. For corporate treasurers, Manish Kohli, global head of payments and receivables at Citi , told PYMNTS’ Karen Webster, three concerns tend to top the list: geopolitical uncertainty, cyber threats and disruption resulting from the emergence of new business models in an interconnected global market.
Chris Skinner
MARCH 9, 2019
The main blog headlines are … It’s only words … why values and missions are questionable 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 … The post The Finanser’s Week: 4th March – 10th March 2019 appeared first on Chris Skinner's blog.
Ron Shevelin
MARCH 11, 2019
Criticism of the big banks closing branches in lower-income areas is misguided. They should actually be closing more of their branches.
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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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