Bank Innovation
JANUARY 15, 2018
Big banks say they want to invest in fintech. But which are the ones actually putting their money on it? Well according to a report by CB Insights, of the ten bulge bracket banks, that would be Goldman Sachs. Based on the new report by CB Insights, which looked at top bulge bracket budget banks, […].
Payments Dive
JANUARY 19, 2018
This ease of contactless payments has spurred a cultural shift, embraced by the younger and more tech-savvy generations, who are happy to go for days without carrying physical cash and instead opt for their phones — even over cards. Older generations, meanwhile, typically prefer to have the option of the security of traditional physical cash.
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Chris Skinner
JANUARY 15, 2018
I visited Tallinn towards the end of last year. If you’re not familiar it’s the capital of Estonia, a country that is the most advanced digital economy in Europe. This all began due to a hack ten years ago, when intrepid Russians were commissioned to destabilise the country’s economy. This … The post e-Estonia, a country full of e-Everything appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 15, 2018
From market pressures in the U.S. that have encouraged data sharing between banks and FinTechs to regulations in the U.K. and EU like Open Banking and PSD2 that require such cooperation, APIs are emerging as an essential piece of the equation for payments innovation. That rings especially true in the areas of B2B payments and cross-border payments, which are complex, require the movement of data along with funds, and often involve multiple parties that have to all be on the same page about a tra
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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.
Bank Innovation
JANUARY 17, 2018
Indian consumers prefer biometrics to PINs or passwords to authenticate payments, a new report by Visa suggests. According to the report, 99% of those surveyed said they would like to use at least one biometric form of authentication (fingerprint, voice recognition, eye scan, etc.) to make payments. The reason for this overwhelming support in favor […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
JANUARY 17, 2018
I’ve been in touch with Colin Iles in South Africa for a while now. Formerly the head of client strategy at Barclays Africa (ABSA), he’s now been working on a new bank called Capitec. I say new, it’s actually been around for 17 years, but it is interesting that for … The post 11 decisions that made a challenger the best bank on the planet appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 16, 2018
One might just call this the age of unattended retail. Increasingly, retailers and other merchants are looking to give customers a more convenient and efficient experience by offering products and services via unattended kiosks. These machines mean that customers can interact with merchants more quickly, without having to waste time standing on a long line or dealing with a slow-moving employee.
Bank Innovation
JANUARY 16, 2018
EXCLUSIVE – After more than two years of planning, Payments Services Directive II or PSD2 finally arrived in Europe on Saturday. The regulation has been dubbed as one of the more substantial regulatory changes of its kind in Europe. While many traditional banks and FIs might not be thrilled about having to open their APIs […].
Payments Dive
JANUARY 16, 2018
The pending arrival of another mobile wallet in the U.S. raises some questions about how a new entrant can succeed among a growing number of options in the market.
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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
Chris Skinner
JANUARY 14, 2018
I’ve been at a few conferences this week, and was amused by an audience poll at one event. The moderator first of all asked: Do you believe that the regulators are in the incumbent’s pockets and protect the industry from new competition? You may find it gratifying that most of … The post Innovation with compliance is difficult appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 17, 2018
The corporate expense management market doesn’t look like it once did. The traditional strategy of handing an employee a corporate card, hoping they make responsible purchases and depending on accurate expense reports has evolved into a market that embraces automation, artificial intelligence, mobility and an array of card products, from P-cards to virtual numbers.
Bank Innovation
JANUARY 17, 2018
Bank of America has more blockchain-related patents than any other firm in the U.S., according to a new report by New York-based law firm EnvisionIP. According to the report, Bank of America has 43 patents while Mastercard and IBM have 27 each, followed by 14 from Fidelity. The report counted a total of 1,045 blockchain […].
Payments Dive
JANUARY 16, 2018
Deploying, securing and managing a wireless point-of-sale (POS) terminal portfolio has traditionally been complex and time consuming for ISOs. Download this infographic to see how you can simplify this process while maintaining full program control.
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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.
Chris Skinner
JANUARY 16, 2018
I am tempted to predict the price of bitcoin for the end of 2018 but know I’d be wrong, so I’m not. It could be $1 or $1 million. I’m not going to forecast it, as there are over 1,000 digital currencies out there and who knows which will be … The post Bitcoin: More electricity consumption than the entire planet? appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 19, 2018
Two years after Amazon launched monthly Prime memberships, the eCommerce retailer is increasing its monthly membership fees by nearly 20 percent, Recode reported. The monthly fee for Amazon Prime will jump from $10.99 to $12.99 in the U.S., which works out to an increase of 18 percent. On an annual basis, monthly memberships will now cost consumers $156 a year.
Bank Innovation
JANUARY 16, 2018
Rarely a day goes by that the financial industry isn’t being infused with the latest and greatest technologies. Fintech, or the marriage between finance and technology, is several decades in the making. For market participants, this means a world of possibilities. While it’s nearly impossible to predict what the latest fintech breakthrough will deliver, at […].
Bobsguide
JANUARY 16, 2018
Ripple has caused quite a stir (we resisted the pun) in the cryptocurrency market. Recent dips and spikes of XRP, Ripple’s cryptocurrency, have caused many commentators to question the long-term durability of the currency. However, few can deny that Ripple is being closely watched by the.
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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
Chris Skinner
JANUARY 14, 2018
Things we’re reading today include … Open banking? I think I’ll be keeping my door shut ‘Open Banking’ revolution will leave account holders at mercy of ‘hackers and thieves’, banks warn ‘Open banking’ begins today. It poses one major threat to your money Boom time: Clear Bank founder Nick Ogden … The post Things worth reading: 15th January 2018 appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 16, 2018
Musicians have a complicated relationship with monetizing their art. They create the songs, but the record labels that distribute them tend to own the song catalogs, which, over the decades, has led to a series of thrilling legal disputes over ownership. Think Paul McCartney’s now 40-year fight for the rights to the Beatles albums , or Prince’s decade-long standoff with Warner Brothers.
Bank Innovation
JANUARY 18, 2018
While regulations continue to be top of mind for financial institutions, banks have another main concern: the innovations and progress being made by fintechs, according to a survey released by EY. Financial institutions need to be more aware of the effect fintechs—which provide “simpler, more convenient, more transparent” services, are having on the industry, EY […].
Bobsguide
JANUARY 15, 2018
Every time we open a banking app to make transactions or payments, Application Programming Interfaces or APIs come into play to connect to the bank servers. Though APIs function in the background, they directly impact how the apps or websites work, and are crucial to provide safe, secure and.
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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.
Chris Skinner
JANUARY 19, 2018
As usual, the Financial Services Club was delighted to host David Doyle as our starting speaker for 2018, and he presented a fine overview of all the things bubbling as top of the agenda in the European Union’s regulatory plans for 2018. Led by the Bulgarian presidency, the agenda focuses … The post #Brexit, Banking and Equivalence appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 13, 2018
The American psyche has a complicated relationship with robots. On the one hand, we love robots. When we think about our happier futures, friendly, helpful robots are often envisioned beeping and bopping in the background, quietly improving our lives. Rosie from “The Jetsons,” the “Danger, Will Robinson!” bot from “Lost in Space,” “WALL-E,” Johnny 5 from “Short Circuit,” R2-D2 (C-3P0 and BB-8) from “Star Wars” — popular culture is filled with robots we love.
Bank Innovation
JANUARY 18, 2018
EXCLUSIVE – There’s a new banking app in town – Emma. The British fintech company, which is still in beta, is gearing up for its launch in the U.K now that it received FCA approval to operate under the new PSD2 mandate. “This is a big deal for us,” Emma co-founder and CEO Edoardo Moreni […].
Payments Source
JANUARY 14, 2018
With merchant services provider Cayan firmly under its umbrella, Total System Services is prepared to venture deeper into retail acquiring and processing through Cayan's omnichannel Genius platform.
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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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