Chris Skinner
JULY 18, 2019
A regular question that comes up is: When will the Fintech bubble burst? My claim is that it won’t under my watch, as this is as big a restructuring of banking and finance as the internet has been for commerce and trade. The latter change is still underway after a … The post FinTech is on fire and London is burning … appeared first on Chris Skinner's blog.
Bank Innovation
JULY 15, 2019
At first glance, Stephen Corliss, whose resume includes senior roles at Blackrock and UBS, seems an unlikely candidate to lead a startup. But Corliss, 50, wants to use his experience from the world of big finance to help solve problems for customers of more modest means. Corliss’ first foray into the startup arena took shape […].
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Payments Dive
JULY 18, 2019
Go-Jek has evolved into a super app of sorts. It began as a ride-sharing, but now allows its customers to make online payments for food, groceries and a plethora of other services.
Abrigo
JULY 19, 2019
Last week, the Federal Reserve hosted a stress testing conference in Boston, MA. The conference brought together regulators, bankers, economists, and others to discuss the most important annual check on the stability of the banking system. The initial stress test conducted in 2009 was described as a “wartime” test meant to reassure the public that the system was solvent, and it was very effective.
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Chris Skinner
JULY 14, 2019
Due to various connections, I was asked to deliver the opening keynote speech at the United Nations High Level Political Forum last week (some coverage here). It was one of those rare occasions where I got nervous, looking out at the faces of dignitaries from nations all over the world. … The post The UN’s SDG’s, FinTech and Banking 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.
Payments Dive
JULY 16, 2019
The African market is a growing and largely untapped ecommerce market, that has embraced mobile as a preferred means of banking, communication and payment.
Abrigo
JULY 17, 2019
One of the most important business relationships you will have is the one you maintain between your institution and your examination staff. This is not a relationship that only needs attention during the exam process. Instead, this relationship should be nurtured by both sides on an ongoing basis. In order to establish and maintain a strong, communicative relationship with your examiners, these five tips should be followed: Utilizing examiners as subject matter experts : Many compliance profess
Chris Skinner
JULY 15, 2019
I thought I would share my speech at last week’s UN meeting and the short version is summarised nicely by the UN’s press page: Chris Skinner, an author and commentator from the United Kingdom, discussed the promise of “fintech” — which integrates finance and technology — to extend financial services … The post Digital finance includes everyone (speech transcript) appeared first on Chris Skinner's blog.
Bank Innovation
JULY 17, 2019
Varo Money, the 4-year-old digital banking startup with 750,000 users and $600 million in deposits, has applied for a banking license with the Federal Deposit Insurance Corporation (FDIC) this week. The company confirmed this development as part of a $100 million Series C fundraising round announced on Tuesday. This is Varo’s second application for an […].
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Payments Dive
JULY 19, 2019
A new wave of European fintechs are planning to invade the U.S. banking market with alternative models of savings, payment and new customer relationships that could shake up the dynamics of the incumbent American banking industry.
PYMNTS
JULY 13, 2019
In this age of live multi-player online gaming, and virtual reality, and all things digital, it can be easy to think of board games as an artifact of the analog world. No doubt many households have a collection of board games in the closet or basement, but so many of them do nothing so much as collect dust, perhaps pulled out during the holidays after the presents are opened and the kids are getting fidgety.
Chris Skinner
JULY 16, 2019
A key part of UN’s agenda for sustainability is the taskforce for digital finance. Officially launched in November 2018, around the same time as the UN’s Principles for Responsible Banking, the taskforce is specifically tasked by the Economic and Security Council (ECOSEC) to look at how the financial system and … The post Financing is critical to our future world appeared first on Chris Skinner's blog.
Bank Innovation
JULY 19, 2019
Capital One‘s commercial lending business is facing price pressure from a saturated market of lenders, including non-banks, that are pushing interest rates down. “Increasing competition from non-banks continues to drive less favorable terms in the commercial lending marketplace,” CEO Richard Fairbank told investors on Thursday. Capital One isn’t alone in facing this pressure in the […].
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Payments Dive
JULY 18, 2019
LG officially entered the U.S. market with its own LG Pay mobile wallet app, but faces a historically slow market for adoption and stiff competition from rival apps by Apple, Google and Samsung.
PYMNTS
JULY 15, 2019
More than $1.2 billion is estimated to have been lost to cryptocurrency scams, thefts and fraud in the first quarter of 2019, and cybercriminals and scammers are not the only ones putting digital asset users at risk. Canadian exchange QuadrigaCX ’s former CEO, Gerald Cotten, allegedly embezzled approximately $195 million of clients’ money, for example, and his recent death left the company without the passwords required to access most of its customers’ holdings.
Chris Skinner
JULY 14, 2019
The main blog headlines are … Two weeks to pay someone? Luxury! Being raised on Monty Python, an old sketch popped into my head (The Four Yorkshire Men) and led to a thought. A grandfather and grandson are at the dinner table … Grandfather: Ah, when I was a lad, life … The post The Finanser’s Week: 8th July – 14th July 2019? appeared first on Chris Skinner's blog.
Bank Innovation
JULY 16, 2019
JPMorgan Chase‘s now-defunct millennial-focused banking app, Finn, was not a failure, CEO Jamie Dimon said Tuesday during the bank’s second-quarter earnings call. The bank had pulled the plug on the digital-only offering in June, just a year after its launch, and rolled some of Finn’s most popular features into Chase’s main mobile banking app.
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South State Correspondent
JULY 15, 2019
HOW LOAN STRUCTURE IMPACTS CREDIT Sometimes how we choose to measure something can lead to incorrect conclusions. While mathematically 30 is 50% more than 20, a 30-year amortizing loan is not 50% riskier, or 50% longer than a 20-year amortizing loan.
PYMNTS
JULY 17, 2019
Visa said early Wednesday (July 17) that it has acquired Payworks , a payment gateway based in Germany focused on the point of sale (POS). The company said in a release that Payworks will be integrated into CyberSource ’s portfolio of services offered to clients. In its release, the company said that Payworks’ cloud-based solution for in-store payments processing will be brought together with the CyberSource digital payment management platform, which will create, in Visa’s words, “a fully integ
Chris Skinner
JULY 15, 2019
Things we’re reading today include … Christine Lagarde will have to confront Berlin if she’s to save the euro | Yanis Varoufakis Facebook’s Libra could be misused, says treasury chief Mnuchin New £50 note design sees Alan Turing become first LGBT person on a UK banknote Digital upstarts need to … The post Things worth reading: 16th July 2019 appeared first on Chris Skinner's blog.
Bank Innovation
JULY 19, 2019
Welcome to the first episode of our new weekly wrap video series, for the week ending July 19, 2019. In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news developments: How bank executives, including JPMorgan Chase and Citibank, are beginning to address Facebook’s planned digital currency Libra in their earnings calls […].
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Payments Dive
JULY 17, 2019
Data breach perpetrators continue to target industries which they perceive offer lucrative rewards. Download this infographic from TNS which looks at the latest experiences within some of these industries.
PYMNTS
JULY 15, 2019
A group of companies in South Korea are collaborating on a blockchain network to be used for mobile authentication services, according to reports. . Samsung Electronics; banks KEB Hana Bank and Woori Bank ; telecom companies SK Telecom , LG Uplus and KT ; and Koscom , an IT service subsidiary from the Korea Exchange, are all part of the group. The companies want to let users protect their own data with the service, which will also allow people to save information from institutions as well as oth
Chris Skinner
JULY 18, 2019
Things we’re reading today include … Bank of America CEO on the importance of digital banking Australia’s NAB turns to RBS turnaround man Ross McEwan as CEO The pound’s slide is about more than Brexit Goldman Sachs’ equities-backed earnings results may face pressure Revolut’s growing pains rumble on The future … The post Things worth reading: 19th July 2019 appeared first on Chris Skinner's blog.
Bank Innovation
JULY 16, 2019
Berlin-based savings and investment startup Raisin landed a $28 million investment from Goldman Sachs on Tuesday to fuel its expansion plans, product roadmap and acquisitions strategy. The funding is part of Raisin’s Series D round, bringing its total amount raised to $220 million. Frank Freund, the company’s chief financial officer, said the investment will help […].
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