Chris Skinner
AUGUST 4, 2017
Some people talk about FinTech disruption and how payments and banking is being attacked and unbundled by start-ups, but we often look at banking too simplistically. Global banks and investment banks are far more complex creatures than their high street counterparts, which is why we’ve seen far less disruption in … The post FinTech and the world of investment banking appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 7, 2017
The world’s first venture capital fund raised with digital coin offering has gained its first round of investors, including executives from Bloq and Civic. Blockchain Capital, the first venture capital firm to focus exclusively on DLT technology is offering digital tokens that represent a stake in the firm’s third fund. The tokens are held on the Ethereum blockchain […].
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Payments Dive
FEBRUARY 24, 2017
As the mobile wallet ecosystem continues to grow and expand, there are still several barriers to entry in the restaurant industry that are making it difficult to increase consumer adoption and employee execution.
Chris Skinner
JANUARY 5, 2017
I kept Tuesday’s blog entry short because I knew that everyone was making predictions and writing much more in-depth pieces. Today’s guest blog entry is from Finanser friend David Horton. David wrote a great piece on LinkedIn over the holidays providing his five banking technology predictions for 2017 and has kindly allowed me to replicate it here. … The post 5 Banking Tech Trends for 2017 appeared first on Chris Skinner's blog.
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Chris Skinner
JUNE 16, 2017
I’m boarding a flight yesterday and murfing (mobile surfing). Flicking between Facebook apps, twitter, bank account, BBC news and more. Suddenly I spot a new ICO – Initial Coin Offering – for a new bank. From Wikipedia: “An initial coin offering (ICO) is a means of crowdfunding the release of a new cryptocurrency. Generally, tokens for the new cryptocurrency are sold to raise money for technical development before the cryptocurrency is released.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
JULY 4, 2017
I’ve written a column for The Banker magazine for the last 15 years and, during that time, have collected their special July edition each year. Every July The Banker publishes their analysis of the Top 1000 banks in the world. In the 1990s, the top 10 were mainly Japanese; in the 2000s, American; and today, Chinese. This year is particularly interesting as there is a clear impact of Brexit on the British banks.
Bank Innovation
JUNE 26, 2017
For the third consecutive year, Bank Innovation has teamed up with Open Bank Project and (this year) the University of Warwick, to conduct a research survey on how financial institutions worldwide are prioritizing API initiatives in 2017. The report, which surveyed more than 200 high-ranking executives from financial services and banking industry, indicated a growing […].
Bank Innovation
JUNE 12, 2017
2017 was a tumultuous year, but despite some stops and starts, innovation in finance is only gaining more momentum. As the year saw changes in financial regulation, startup culture, and trends in venture capital, innovation moved forward: blockchain labs were made, funding was fought for, mobile payment systems were integrated, and the limits of artificial […].
Bank Innovation
MARCH 21, 2017
A quick, seamless API for wealth management customer authentication and data aggregation may not fix all of SoFi’s problems, but it certainly helps. The alternative lender demoed its new Authentication API, built in partnership with Quovo, a financial data aggregator for wealth management, at the FinDEVr conference today. “What’s important to call out is the combo […].
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Bank Innovation
MARCH 17, 2017
Banks are entering what could well be a Golden Age — deregulation, rising interest rates, and a bevy of fintech startups eager to hop into bed with them. Will they take advantage of this fintech opportunity? “Banks now have the capital to put to work and invest in growth after a long period of cost-cutting,” […].
Bank Innovation
JULY 11, 2017
Open APIs have been advancing steadily across the banking landscape for a number of years, though just how “open” may be a point of conjecture. Many of the European neobanks have done it, such as Monzo and Fidor, and in Europe, where PSD2 is set to take effect next year, the issue is especially pressing. […].
Bank Innovation
MAY 26, 2017
A majority of enterprises in financial services are undergoing a full-cycle digital transformation, with AI-led projects in the spotlight. That’s according to a study by Infosys released this week. More than 75% of banking and insurance companies are undergoing full-cycle transformation, while 20% are transforming partially, according to the report.
Bank Innovation
OCTOBER 11, 2017
EXCLUSIVE— It’s no secret that banks don’t move all that fast when it comes to new innovations, but most are starting to match fintechs at the customer experience level, according to Verizon, which provides software and internet connectivity to much of the industry. But the internal systems of traditional financial institutions are a different story. […].
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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.
Bank Innovation
DECEMBER 14, 2017
EXCLUSIVE—Should banks acquire or partner with smaller, more agile fintechs? Well, that depends if the end goal of the bank is to further financial innovation, Derrick Walton, EVP of global financial networks for Hyperwallet, told Bank Innovation. “There’s a difference in culture, in what the goals tend to be,” Walton said, who is responsible for […].
Bank Innovation
MAY 18, 2017
Consumers can now use their Google credentials to make online and mobile payments via a stored credit card. The tech giant unveiled the tool yesterday, during its annual I/O developer conference in Mountain View, Calif. The service will act very muchlike a regular mobile wallet–of which there are an abundance– with users to soon start noticing […].
Bank Innovation
MAY 19, 2017
Despite all the shiny fintechs out there, consumers still expect innovation in financial services to come directly from banks. Almost half of the consumers –49% of women, and 45% of men– said they are most excited to see new financial product launches at banks, according to a study released yesterday by EY. All other alternatives […].
Chris Skinner
SEPTEMBER 14, 2017
Following on from the discussions about identity on Monday, it gets interesting to think about the customers’ data and who owns it, especially in light of the Payment Services Directive 2, PSD2 for short, which comes into force at the start of next year. The regulation forces banks to open … The post Who owns the customers’ data? appeared first on Chris Skinner's blog.
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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.
Bank Innovation
APRIL 26, 2017
What’s hot in fintech? Regtech, insurtech, real estate, robos — all of those (and more) have enjoyed the fintech spotlight recently, with impressive startups on the leaderboard. Six of those startups took the stage at the Empire Startups Fintech Conference yesterday to demo their latest and greatest. Checkout the lineup of the hottest startups below.
Bank Innovation
JUNE 29, 2017
Knowing which startups to keep an eye on in fintech can be a full time job (for some, it is actually a full-time job), especially as more and more of them launch, get funding, and partner up with banks. Take a look at the seven startups Bank Innovation is watching this month below: bonify Berlin […].
Bank Innovation
JUNE 8, 2017
When talking about machine learning algorithms, Amazon definitely comes to mind. The e-commerce giant has (arguably) the most sophisticated ML toolset around that is uses for drone deliveries, online tailors, or its AWS offering. Turns out, Amazon’s lesser known operation – small business lending – is also powered by machine learning, Bank Innovation has learned. […].
Chris Skinner
OCTOBER 19, 2017
I was at a large bank’s wealth management conference recently, where the CEO was being quizzed about various areas including a lot about technology and FinTech. He made several statements that I noted with interest: “Roboadvisory services improves our speed-to-market and human productivity, but does not replace humans. In particular, … The post Why bankers only see horses and technologists are creating cars appeared first on Chris Skinner's blog.
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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
SEPTEMBER 15, 2017
EXCLUSIVE – The Brink’s Company and expense management provider Bento for Business introduced a new Travel & Expense Debit Card at Finovate in New York. The partnership is a major win for Bento, who launched only two years ago with a prepaid card for SMBs. “The Brink’s T+E card is different from our core product […].
Bank Innovation
MAY 30, 2017
Banking consumers in Paris will soon be able to get a taste of “future banking” with a virtual reality-based app for retail banking, French bank BNP Paribas announced today. The app, which will be demoed at the Viva Technology Fair this June in Paris, allows users to access their bank transaction records as well as move through all […].
Chris Skinner
AUGUST 30, 2017
A short time ago, I hosted an interesting group for the Nordic Finance Innovation meetings. The meeting gathered several of the leading-edge Banking-as-a-Service (BaaS) companies that have launched in the last few years including Bud, Clearbank, Leveris, Saxo Bank and Solaris. Building on each others narrative it soon became clear … The post Lego bank is here, but it’s not built with Lego appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 30, 2017
EXCLUSIVE— Financial services technology provider FIS will use its new API portal to help banks and fintechs alike develop new capabilities, partnerships, and innovations, Rob Lee, chief product officer for FIS, told Bank Innovation. “There’s a variety of services available [on the platform]—mobile banking, customer acquisition services, we tried to hit on a wide spectrum […].
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.
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