Chris Skinner
NOVEMBER 8, 2018
I often talk about teaching children to learn what machines cannot learn. Our system of education was created in the Industrial Revolution, and is based upon kids being stuffed with facts, stats and dates. They learn to parrot-fashion repeat things, and are tested to see if they can remember. It’s … The post Teach children the things that machines cannot learn appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 9, 2018
A session at the recent Money20/20 conference in Las Vegas attempted to clarify the roles that technology companies are playing in financial services and how traditional financial institutions are working with them.
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PYMNTS
NOVEMBER 6, 2018
Before Michael Krakaris co-founded an online fulfillment platform for eCommerce merchants, he learned firsthand how companies could reinvent messy spaces with software. One of his first jobs was working for a company that created an application programming interface (API) to help businesses send text messages to their customers. That business solved a major pain point, he says, as companies used to have to make deals with the wireless carriers themselves to have that capability.
Bank Innovation
NOVEMBER 8, 2018
A recent survey by Accenture found chief financial officers are taking on expanded roles in helping banks become data-centric and better equipped, in terms of technology, for what will likely be a volatile future. In its report on the survey, The CFO Reimagined: Banking, Accenture said three in four banking CFOs are “confident” their teams can […].
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Chris Skinner
NOVEMBER 7, 2018
I was surprised to see that JPMorgan Chase is now hiring people as bankers and, as a mandatory part of their induction programme, they are taught to code. “Coding is not for just tech people, it is for anyone who wants to run a competitive company in the 21st century,” said Mary Callahan … The post Run the bank or change the 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.
PYMNTS
NOVEMBER 8, 2018
Months of geopolitical spats that spanned Europe, the Middle East and the United States have seen payments infrastructure at the center of it all. This week SWIFT, the financial messaging service based in Belgium (and where the acronym stands for the Society for Worldwide Interbank Financial Communications) said that it would suspend access for at least some Iranian banks.
Bank Innovation
NOVEMBER 6, 2018
OTP Bank will launch its second international accelerator program in the first months of next year and is accepting applications from growth-stage startups and scaleups until the end of November. The companies participating in the three-month program will have the chance to refine their solutions through partnerships with a bank, supported by OTP Bank executives, senior […].
Chris Skinner
NOVEMBER 6, 2018
I was chairing a panel with a number of different players, one of which was Monzo. Simon Vans-Colina, Monzo’s lead engineer for Open APIs, was talking about their approach to partnering with others in an API ecosystem, including TransferWise and Investec Bank. What was not surprising is that the lion’s … The post How online gaming created a challenger bank appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 6, 2018
As part of its retail transformation initiative, HSBC has partnered with Samsung on exploring the use of smartwatches in bank branches.
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PYMNTS
NOVEMBER 7, 2018
Starting a new business is never easy, and new apparel lines are particularly challenging. There are many, many retailers and brands trying to outfit the world, and standing out in the crowd is difficult. But even on the already pitched startup terrain, apparel startup Clandestina, based in Havana, Cuba, had some unique troubles all its own. The brand became the first to launch a website for U.S. sales last month — and it is spinning up to take on its first-ever Christmas season.
Bank Innovation
NOVEMBER 7, 2018
Amid a dizzying night of political drama, a bright spot appeared for the fintech and cryptocurrency communities -- the election of Jared Polis to Governor of Colorado. Polis is known for many things, such as being the first openly gay state governor ever elected and a dot-com millionaire to the tune of $400 million, but […].
Chris Skinner
NOVEMBER 4, 2018
I recently had a chat with Monica Murthy of Empire Startups. Here’s the low-down. Starting From Scratch – The Path for Western FinTech It would be incorrect to call Chris Skinner an industry old hat, since despite his 10+ years in the FinTech industry, he’s known for being on the … The post Becoming a Digital Bank: the how and why appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 7, 2018
As the world embraces 4G technology, operators are turning off 2G and 3G networks to free up resources and reassign spectrum. This infographic gives a quick overview of some of the key countries being affected.
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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.
PYMNTS
NOVEMBER 5, 2018
Visa and Billtrust today (Nov. 5) announced the launch of the Billtrust Business Payments Network (BPN), an open buyer/supplier payments platform that Billtrust CEO Flint Lane said will do what other B2B payment platforms have struggled to do: put paper checks on the path to extinction by streamlining and digitizing payments between businesses — and doing it at scale.
Bank Innovation
NOVEMBER 9, 2018
Bank-backed payment service Zelle crossed $32 billion in transactions in the last quarter, almost twice that of Venmo, but the P2P provider is not as omnipresent among banks as one would expect it to be. “P2P payments are significantly up this quarter, like 250% up,” Robb Gaynor, general manager of digital banking for Malauzai, a […].
Chris Skinner
NOVEMBER 5, 2018
As I travel around, I find different cultures fascinating Some are open, some are closed; some are welcoming, some are distrusting; some feel comfortable, some feel weird; some feel nice, some feel strict; and so on. A lot of the feeling you have about a country is a mixture of … The post In China, buy the wrong things and go to jail appeared first on Chris Skinner's blog.
Payments Source
NOVEMBER 7, 2018
During his time as U.S. attorney general, Jeff Sessions was an outspoken opponent of the legalization of cannabis sales. Now that Sessions has resigned, legal marijuana is poised to become a growth industry.
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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.
PYMNTS
NOVEMBER 6, 2018
It can be a moment of anxiety, worry and mistrust: that moment when a digital payment is sent into what was once called the ether. Will the funds end up in the right bank account? Will fraudsters hitch a ride? Those and other questions can vex people involved in the transaction — and keep them glued to paper-based payments until the questions can be answered to their satisfaction.
Bank Innovation
NOVEMBER 9, 2018
PrecisionLender was a fintech before fintechs were cool. Co-founder and CEO Carl Ryden told Bank Innovation his applied banking insights company is no disruptor, but, rather, an enabler of banks. He said PrecisionLender found its opportunity in the white space between departments at banks involved in the process of pricing commercial loans and making deals, […].
Chris Skinner
NOVEMBER 7, 2018
Things we’re reading today include … Bank by bank, here’s where the hiring and firing will happen next Would you bank with Google, Amazon, Facebook or Apple? TransferWise partners with Dutch challenger bank Bunq Hidden camera reveals how bank employees mislead and upsell on pricey credit card insurance Westpac bets … The post Things worth reading: 8th November 2018 appeared first on Chris Skinner's blog.
Insights on Business
NOVEMBER 8, 2018
At last month’s Money20/20 conference, the event brought over 10,000 people together and hosted speakers from start-up disruptors to incumbent financial institutions, and everything in between. IBM was there in full force. And I had the pleasure of hosting a panel of CEOs three mornings in a row. I thought one panel participant explained eloquently where the financial services industry is in the digital transformation journey when he put it in terms of the incumbent bank’s relationship with fint
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PYMNTS
NOVEMBER 8, 2018
PayPal is broadening its small business financing offering into the German market, a press release announced on Wednesday (Nov. 7). PayPal Working Capital will launch in Germany as PayPal Businesskredit, offering small and medium-sized businesses access to working capital financing that is deposited directly into their PayPal accounts. The rollout of its SMB lending offering comes nearly 15 years after PayPal first launched operations in the market, and adds Germany to the list of markets in whi
Bank Innovation
NOVEMBER 9, 2018
Bank-backed payment service Zelle crossed $32 billion in transactions in the last quarter, almost twice that of Venmo, but the P2P provider is not as omnipresent among banks as one would expect it to be. “P2P payments are significantly up this quarter, like 250% up,” Robb Gaynor, general manager of digital banking for Malauzai, a […].
Chris Skinner
NOVEMBER 4, 2018
The main blog headlines are … Clash of clans … or new bank versus old bank (Fidor, BPCE) I was talking with some friends at the most innovative bank in Europe. A bank that has stopped getting on my radar for the past few years. I first blogged about them back … The post The Finanser’s Week: 29th October – 4th November appeared first on Chris Skinner's blog.
Bobsguide
NOVEMBER 7, 2018
Technology, competition, and regulation have put pressure on banks to evolve from lumbering giants to nimble financial ninjas. The transformation of investment and retail banks from their bloated pre-financial crisis operations has been fraught with stringent regulation of their activities and.
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