Payments Dive

OCTOBER 6, 2016

Michelle Evans, the digital consumer manager for Euromonitor International, shares some findings from the company's latest global research.

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Trends Mobile Payments Management 419

Chris Skinner

OCTOBER 6, 2016

One of the commonest questions I’m asked is whether the bank should just launch another bank, rather than trying to be digital and convert the existing bank. The idea is that the new bank will have no legacy, no constraints, can develop from a clean sheet of paper and be bank’s very own challenger bank. … The post Wouldn’t it be simpler just to launch a new bank?

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Digital Banking Fintech 418

Bank Innovation

OCTOBER 4, 2016

So much has happened with blockchain over the past couple of weeks—so very much—but let’s talk about the banks: Firstly, Bank of America is the latest to join the ranks of financial institutions experimenting with blockchain. Bank of America Merrill Lynch recently announced at Sibos that it was collaborating with Read More.

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America blockchain Online Technology 385

Finer Points

OCTOBER 3, 2016

A hallmark of community banking is accountability. Community bankers are held accountable to their customers because they live and work in the same neighborhoods. As locally based institutions with a stake in the prosperity of their communities, community bankers simply can’t afford to take advantage of their customers. So Wells Fargo’s failure to take responsibility […].

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Groups

Accenture

NOVEMBER 29, 2016

“We cannot direct the wind, but we can adjust the sails.” This proverb sums up the challenges facing traditional banks in the digital economy. As digitally native customers change their expectations of what their bank should provide, banks need to. Read more.

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Customer Experience 253

Chris Skinner

OCTOBER 5, 2016

I’m always blogging about replacing core systems, open source the bank, change the leadership to one that gets it and just do it. I’m saying it so much that I’m finding myself boring. So let’s change tack. Who’s the vendor? Not gonna name names, but I’ve had a few really fun discussions with banks in … The post Forget legacy systems; what about legacy vendors?

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Chris Skinner

OCTOBER 3, 2016

Talking about moving from proprietary to open, from controlled to marketplace and from internal to external focus, another key change is the very nature of technology itself. It’s quite clear that a start-up today could launch with just a few thousand dollars, Amazon Web Services and a bright idea. There is no need to build … The post Core systems should have built-in obsolescence appeared first on Chris Skinner's blog.

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System Technology 393

Payments Dive

DECEMBER 29, 2016

All the signs seem to point to Sweden becoming an entirely cash-free country. However, the phasing out of a payment method that has been in use for centuries will not be simple, and it's possible that the country will never become truly cashless.

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Mobile Payments 383

Chris Skinner

NOVEMBER 11, 2016

I guess in concluding this weeks’ thoughts, I’m left reflecting on a similar idea to the one I blogged a couple of weeks ago about a world turned on its head. This time it’s a different take on the same conundrum. We live in the developed economies complaining about legacy; developing economies are just excited … The post Look at financial inclusion for innovation appeared first on Chris Skinner's blog.

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Innovation 379

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Analysis

Bank Innovation

NOVEMBER 7, 2016

From almost the very beginning, Riskalyze has had the look and feel of a winner. Which can mean only one thing for the financial services startup: The venture capitalists were circling. “We had tons of inbound emails and tons of inbound phone calls. It was constant,” Riskalyze CEO and founder Read More.

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Bank Innovation

OCTOBER 3, 2016

As you might have seen, the second your eyes opened this morning (I’m assuming like the rest of the population that your phone is already in your hands when this happens, if for no other reason than shutting off your alarm), Facebook has just today launched its own peer-to-peer, ecommerce Read More.

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Fraud Online Technology Mobile 376

Bank Innovation

NOVEMBER 10, 2016

If you thought ‘fintech’ was a buzzword, get ready for ‘open’. Open data, open APIs, open access – you name it. Banks are under pressure on multiple fronts to open the doors and let in the tech punters, all of whom are hungry for a slice of customer data. Open Read More.

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Fintech Data 373

Payments Dive

NOVEMBER 10, 2016

Citi is the latest financial institution to come to the market with a digital wallet service.

Marketing 369

Marketing 369

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Lending

Chris Skinner

NOVEMBER 10, 2016

I consider myself a citizen of the world. I guess that’s because I fly around so much. Everywhere I go, I find the same thing. Warm, fantastic people who welcome me like a brother and complain about the idiot running their country. This is common to every country, just that some idiots are more extreme … The post Are we globalising or localising?

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Chris Skinner

OCTOBER 4, 2016

We had a really interesting meeting about digital identity, blockchain and the Calais Jungle at The Financial Services Club recently from Jaz and Nils O’Hara of the Worldwide Tribe. One member of the Club, Nick Swanson of ObjectTech, was so taken with it that he blogged about it. Thanks Nick and he’s kindly allowed me … The post Who are you?

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blockchain Meeting 365

Bank Innovation

OCTOBER 5, 2016

Some words that should no longer surprise you, because this technology is only growing stronger: in blockchain news, there’s a new player on the block… chain. Doing it, moving on: Blockchain-for-data company Factom Inc. has just raised $4.2M in a Series A, in a round of eleven investors—plus or minus Read More.

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blockchain Company Data Technology 356

Bank Innovation

DECEMBER 27, 2016

2016 has been a year of many things. No, really, just look at this list of most trending Twitter topics of the year (spoiler: elections, Brexit and PokemonGo all made the list). But the memories are still fresh of, possibly, the most meaningful event in the fintech world: the Comptroller Read More.

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Innovation Trends Fintech Operations 353

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Operations

Bank Innovation

DECEMBER 26, 2016

The future of banking most probably involves a completely re-vamped branch structure–but what will the bank branch of the future look like? Bank Innovation conducted a survey to find out, partnered with Worldwide Business Research, which explored the topic at its Future Branches event in La Jolla, California. The executives enjoying the Read More.

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California Survey Innovation Online 353

Payments Dive

OCTOBER 4, 2016

Security pros discuss how consumers view today's security climate when it comes to payments.

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Security Payments Mobile 351

Bank Innovation

OCTOBER 6, 2016

Fears of technology displacing human workers are often dismissed by futurists as technophobia or Ludditism, but a Monday “strategy update” from the Dutch bank ING may change the conversation. In the next five years, the bank expects to reduce its workforce by around 5,800 workers, mostly in Belgium and the Netherlands, Read More.

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Strategy Technology Operations Digital Banking 350

Bank Innovation

SEPTEMBER 14, 2016

Image source I struggled with the headline for this post because the news connects to so many different themes we cover on Daily Fintech: Real use cases for Blockchain. Catastrophe Insurance and Climate Change. Financial Inclusion. Innovation by Incumbent Financial Services. The new global back office. The unbundling of vertically Read More.

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blockchain Innovation Fintech 346

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Cards

Bank Innovation

NOVEMBER 11, 2016

Blockchain is at a bit of a critical point, because it’s running up against the one universal enemy all new technologies have to face eventually: reality. In reality, how will banks use the blockchain? “To do the real thing, it takes time, effort and expertise,” says Alex Wolff, head of Read More.

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Bank Innovation

DECEMBER 30, 2016

For the last episode of the year, Brett King hosts a group of Fintech all-stars — Chris Skinner, Jim Marous, Dave Birch, Ghela Boskovich, and Penny Crosman to review a bit of 2016 and talk about the trends and predictions for 2017. What’s Next?

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Fintech Trends Groups Innovation 337

Bank Innovation

OCTOBER 8, 2016

Our thesis at Daily Fintech Advisers is that consumer banking innovation is coming from two poles – the UnderBanked and the PostBanked. Wearables impacts the PostBanked. These economies are characterized by high productivity, high labor costs and plenty of disposable income. So people in these countries a) have the money Read More.

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Innovation Fintech 333

Bank Innovation

NOVEMBER 10, 2016

The importance of cybersecurity, particularly to banking, is under a spotlight at the moment, as online and mobile banking users and financial consumers find themselves dealing with hacks, Trojans, and malware bots, all gaining ground in the last two months. Whenever cybersecurity is discussed, the topic of biometric authentication rises Read More.

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Security Online Mobile Technology 332

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

Community Bank