Chris Skinner

JULY 16, 2018

During #Money2020Europe Tink, the Swedish challenger bank, interviewed me on my opinions about all things finance and technology. It’s only five minutes and think it’s probably worth the viewing as people are picking up on various comments I made, such as: “The leadership team has to be completely committed to … The post The chasm between banks with digital leadership and those without appeared first on Chris Skinner's blog.

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Leadership Technology Digital Banking 397

Bank Innovation

JULY 16, 2018

Financial institutions harnessing the power of big data must glean meaningful insights from many disparate data sets. Several startups helping banks and financial institutions make sense of data, alternative and otherwise, have emerged. According to one of our featured startups, Hexanika, the regulatory environment has intensified substantially lately.

Analytics 284

Analytics Data Big Data Fintech 284

PYMNTS

JULY 16, 2018

Apple Inc.’s research and development spending may have increased in the last fiscal year, but Toni Saccognahi, an analyst at Wall Street firm Bernstein , thinks the iPhone maker can spend more. In a research report covered by Barron’s , the Bernstein analyst said Apple has increased R&D spending to $12.7 billion in its last fiscal year, which accounts for more than it spent between 1998 and 2011 when it was creating the iPod, iPad, and iPhone — and is growing it at a faster clip

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Apple Analysis Resources Innovation 145

Bank Innovation

JULY 16, 2018

Bank of America will invest about $75 million per quarter in technology from now through the rest of 2019, the bank reported in its earnings call today. In its Q2 earnings call today, Brian Moynihan, chairman and CEO at BofA, said: …We continued to invest in our businesses and began an additional $500 million technology investment, […].

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America Technology Innovation Report 247

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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

Lending

PYMNTS

JULY 16, 2018

Connections are about control: Who provides and oversees the connecting pieces? Who maintains the flow of goods, services, people and data through those connections? What do the connections connect to themselves? Less abstractly, the future of the automotive industry — along with the payment and commerce tasks associated with it — depends significantly on the type of technology that ties together web-enabled cars and trucks with outside networks.

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United States Technology Guidelines Data 130

PYMNTS

JULY 16, 2018

PPRO Group , a U.K. cross-border ePayment provider, announced on Monday (July 16) a $50 million round of investment led by PayPal. In a PayPal press release , the company said that in addition to its investment, Citi Ventures and returning investor HPE Growth Capital participated in the round of fundraising. PPRO enables businesses to accept more than 140 alternative payments around the globe, partnering with payment service providers and financial institutions.

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Groups Capital Payments Fintech 116

Bank Innovation

JULY 16, 2018

Auto finance is a segment that has been on the decline. And that trend will continue in 2018 and likely will continue in 2019 as well. Looking at the market over the next five or ten years, there are several micro and macro factors that will reshape the auto finance segment. The trends that are […].

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Technology Trends Marketing Online 186

PYMNTS

JULY 16, 2018

Market watchers have sent out a warning that the U.S. economy might be heading toward a recession. According to Reuters , the rise of risk premiums on investment-grade corporate bonds over comparable Treasuries, which have been increasing since February, is one factor that has analysts worried. “People are talking about the yield curve as a predictor of recessions.

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Bobsguide

JULY 16, 2018

Every cloud has a silver lining, at least that's what our elders drummed into us, an early example of expectation management and how to deal with life's challenges.

Management 100

Management Data Examples US 100

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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

Report

PYMNTS

JULY 16, 2018

Citi announced Monday (July 16) the launch of Citi Payment Insights, a new service that gives institutional clients access to real-time payment information and the ability to action payments on demand via the CitiDirect BE electronic banking platform. In a press release, Citi said Citi Payment Insights empowers clients by giving them a complete view of the transaction lifecycle within Citi’s global network and across the correspondent banking ecosystem by integrating the transparency provi

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Payments Big Data Strategy Management 111

Bobsguide

JULY 16, 2018

When organizations think of finance transformation, it often involves adding some automation tools or hiring staff. Very rarely does it involve completely reforming the company while also reshaping the economics of an entire industry. Yet this is the story of SmartShoot, a fast growing marketplace.

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Case Study Study Tools Industry 79

PYMNTS

JULY 16, 2018

Cryptocurrencies such as bitcoin and ether don’t pose much of a risk to global financial stability at the current time, but that isn’t stopping global regulators from creating a framework to monitor risk from cryptocurrency. Reuters cited the Financial Stability Board which is in charge of coordinating financial regulation among the Group of 20 Economies when reporting that the framework covers how risks from crypto assets could spread to other areas of the financial system.

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Regulation San Francisco Bitcoin cryptocurrency 110

Payments Source

JULY 16, 2018

Venezuela's alternative currency, the Petro, isn't the only cryptocurrency serving the needs of the country's population.

cryptocurrency 99

cryptocurrency 99

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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

Lending

PYMNTS

JULY 16, 2018

Picture this. It’s Boston. It’s snowing. It’s February (or maybe it’s May, because it’s still snowing in Boston). A driver has to pull over and get gas. The fingers and mind tremble at the thought of getting out of the car to pay, to get the coffee on the trudge to and from the convenience store. It’s the kind of commerce that engenders no joy. Another scenario: A driver has their kids in the car.

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Millennials Boston Retail Mobile 109

Payments Source

JULY 16, 2018

Despite some criticisms of the strategy, community banks should continue to pair up with fintech companies that can help them expand their digital offerings.

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Fintech Community Bank Community Strategy 71

PYMNTS

JULY 16, 2018

Scientists say that humans have a lot in common with mice. Both species, a new study conducted by researchers at the University of Minnesota Medical School has found, express profound regret over how much time is spent waiting for something to happen. The study examined the behaviors of humans and mice before each were given an option to wait and receive reward (food for mice, videos for humans) and then after making the commitment, while waiting to receive it.

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Study Payments Innovation System 108

Payments Source

JULY 16, 2018

The biggest Nordic banks expect to launch a new piece of financial infrastructure next year, promising to dramatically speed up international transfers in one of the world’s most technologically advanced regions.

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Regional Technology Payments 64

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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

US

PYMNTS

JULY 16, 2018

Employers are increasingly moving away from depositing paychecks into employees’ bank accounts, offering instead to add them to payroll cards. Payroll cards work like debit cards, allowing employees to purchase goods and services or make cash withdrawals from ATMs. Unlike debit cards, though, there are no bank accounts tied to the cards and money is directly added to them by employers.

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Cards ATM Regulation Resources 106

Payments Source

JULY 16, 2018

Citigroup is using tracking and transparency to push back against rivals that paint traditional bank-powered international payments as a costly, time-consuming relic.

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blockchain Payments 65

PYMNTS

JULY 16, 2018

Continuing the recent string of earnings from big banks – a string that kicks off earnings season per tradition – Bank of America said loan growth and a boost in digital initiatives boosted results in the second quarter. The company is also committing a significant amount of incremental capital over the next several quarters to technology initiatives.

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America Mobile Cards Taxes 105

Payments Source

JULY 16, 2018

Amazon Prime Day is a marketing "holiday" that aims to expand Amazon Prime membership, a $119 subscription that's a major part of Amazon's marketing strategy at its core site and Whole Foods.

Marketing Strategies 63

Marketing Strategies Strategy Marketing Online 63

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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

Compliance

PYMNTS

JULY 16, 2018

The Bureau of Consumer Financial Protection announced late last week it settled with the National Credit Adjusters , a private company, as well as its chief executive and part owner Bradley Hochstein. In a press release, the CFPB said it found NCA and Hochstein used a network of debt collection companies to collect debt from consumers, with some engaging in unlawful debt collection acts and practices that harmed consumers.

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National Security Groups Company 104

Payments Source

JULY 16, 2018

Worldpay and Mastercard have formed a global strategic partnership, expanding the ways consumers and merchants connect for online and in-app payments via Mastercard’s Vocalink business.

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Online Payments Mobile 62

PYMNTS

JULY 16, 2018

Banco Santander , the Spanish bank, has created a digital investment unit that will be headed by John Whelan, who is currently in charge of the bank’s blockchain unit. According to a report in Fintech Futures , the new unit will focus on making sure the bank is using the latest technology to improve efficiencies, while at the same time exploring the use of tokenized securities in the capital markets, derivatives and with other financial products. “The wave of digitalization that is o

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blockchain United States Capital Mobile 104

Payments Source

JULY 16, 2018

The information you need to start your day, from PaymentsSource and around the Web. Today: Apple Pay pushes larger payments in ad campaign; Aeon tests palm biometric payments; Bank-led P2P grows in Russia; Mueller indictment details election hackers' bitcoin laundering.

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Bitcoin Apple Payments 62

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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

Lending