March, 2016

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Banks are not technology companies (yet)

Chris Skinner

I’ve been illustrating my frustration with incumbent banks for some time, saying that they lack technology leadership. Almost a third of my new book talks about the biggest challenge for banks to respond to Fintech, Big Data, Cloud, Blockchain and all those other issues is to have leadership.

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Sweden's central bank calls for restraint in dash to cashlessness

Payments Dive

Riksbank cites 'a high risk' that cash will disappear before alternative means of payment have become widespread, causing financial harm to some Swedish citizens.

Payments 199
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The Spring 2016 Fintech Boat for Refugees

Bank Innovation

We aim to shed light on technology that is being developed for refugees. We opened up the discussion with the vision of a Refugee bank in Blockchain Digital ID and the vision of a Refugee Bank. The seed has been planted from the Canadian Digital Finance of institute. We mentioned Read More.

Fintech 150
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We Played with Virtual And Augmented Reality At Our Bank And Here Is What Happened

South State Correspondent

Virtual reality is all the rage this week. Facebook released their Oculus Rift headset and it was announced that the NCAA Final Four basketball games will be live-streamed in virtual reality. This all has the “Wow” factor but the reality of virtual reality is that it leaves much to be desired. It is no surprise that, in our opinion, the technology is over-hyped and out over its skis.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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The compliance function’s new balancing act

Accenture

Results of Accenture’s 2016 Compliance Risk Study are in, and the data points to new concerns and challenges for the compliance function. Our study interviewed more than 150 compliance leaders, at banks, capital markets firms and insurance institutions in the. Read more.

More Trending

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Why most banks fail at transformational change

Chris Skinner

I had a few wake up calls in my years of working in financial services, and a couple of key ones gave me an insight into the mentality of major financial firms that have stayed pretty true ever since. The first was working with a major bank on a process re-engineering project.

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Mobile payments play a role in Messenger's quest to become more like WeChat

Payments Dive

A media report recently revealed a potential plan for Facebook to add an in-store mobile payments option to Messenger. This could be another step in the company's plans to introduce a digital wallet.

Mobile 215
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Goodbye, Google Wallet Card

Bank Innovation

It was never supposed to have existed. Google Wallet Card, the sad offspring of Google’s original mobile payments dreams, will shut down June 30, as Android Police reported on March 28. Emails have now gone out to Google Wallet cardholders. The card came about in 2013 because Google was blocked from Read More.

Google 190
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Ushering the Digital Age in for SMBs, with Tech Giants and the SBA

PYMNTS

The Small Business Administration is working with tech giants in the name of small business efficiency. As noted by Fortune on Thursday, the agency is linking up with Amazon, Microsoft, Facebook and several others, having built out a web site through which business owners and small business entrepreneurs can latch onto online tools created by those big guns to help run day to day operations a bit more smoothly. .

Resources 101
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The State of Automation in Financial Services 2024 Report

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

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Why “robo-advice” faces a battle for hearts and minds – both among banks and consumers

Accenture

As my regular conversations with wealth and investment management clients underline, the rise of automated financial advisory services – or “robo-advice” in tabloid-speak – is currently one of the banking industry’s hottest topics. With leading players now starting to use. Read more.

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The new 4 C’s of commercial lending

Celent Banking

Last week, I participated in a Finextra webinar on the topic of “Connected Credit and Compliance for Lending Growth” with panelists from ING, Vertus Partners, Misys and Credits Vision. As I prepared for the webinar, I thought back to my first exposure to commercial lending when I worked for a large regional bank and I recalled the 4C’s of commercial lending from credit training: character, capacity, capital and collateral.

Lending 116
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Things worth reading: 1st April 2016

Chris Skinner

Things we’re reading today include … Does ‘pay by app’ mean an end to shopping queues? MetLife ruling bolsters other firms arguing systemic unimportance GE Capital asks U.S. government to lift ‘too big to fail’ designation Co-op Bank on hunt for chief executive World’s top banks in U.S. government cross-hairs over dealings with 1MDB U.S.

Capital 150
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SlabbKiosks inks partnership to deploy EMV-enabled bill payment kiosks

Payments Dive

Kiosk manufacturer SlabbKiosks has announced it has partnered with payments company Ingenico Group to deploy EMV-enabled bill payment devices. SlabbKiosks will integrate Ingenico's payment system into its kiosks.

Payments 150
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Tax Apps Drop While Credit Karma Retains Title

Bank Innovation

Last week Credit Karma passed Chase Mobile to slip into first place on both Android and iOS platforms. Maybe tax season has mobile users worrying about their credit history, or contemplating borrowing some cash? Maybe not. Tax worries seem to already be a thing of the past. Google Wallet rose to seventh place on Android, while IRS2Go dropped Read More.

Taxes 163
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eBay Revs Up With Auto Tech Company Acquisition

PYMNTS

A recent acquisition by eBay indicates that the online marketplace has designs on souping up its offerings in the automotive category. The company announced earlier this week that it has acquired Cargigi, a provider of online advertising and marketing services for the auto industry. With the company now in its folds, eBay intends to leverage Cargigi’s technology to help onboard auto dealers’ inventory onto eBay’s namesake website.

Company 101
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Where are we in the “Gandhi cycle” for fintech?

Accenture

I still hear a lot of rationalizations for why financial technology (fintech) won’t fundamentally change the banking industry. They range from “it’s all hype and no revenue” to “wait ‘til they get big enough for the regulators to go after. Read more.

Fintech 150
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Risky business? Mobile banking, big data and cloud computing

Bobsguide

Mobile banking, big data and cloud computing share a number of common requirements, at the forefront is trust. Professionals in each field go to great lengths to develop, strengthen and retain trust in their offering. They know that if we do not trust their brand, people and products, then their.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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Pussy Galore

Chris Skinner

OK, I see weird things everywhere. Last week in Japan … But even the Japanese cannot beat the guys in the Middle East. A few days before I went to Tokyo I was in the United Arab Emirates (UAE) at a conference called MEFTECH, where one exhibitor proudly showed me the Beam app.

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Swiss banks push ahead with consolidated mobile payments plan

Payments Dive

Credit Suisse, PostFinance, Raiffeisen, UBS and ZKB are the banks involved in the talks with two Swiss supermarket chains, Coop and Migros.

Mobile 150
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It’s Getting GUI Out There

Bank Innovation

All that GUI out there might just change fintech forever. Increasingly, developer-level applications are offering up their wares not as “only a math Ph.D can figure it out” interfaces, but with GUIs that even I can work with. A GUI, of course, is a graphical user interface, and having one means Read More.

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Shell Pumps More For Less With IoT

PYMNTS

In a culture that glorifies and relies so heavily upon the personal automobile, it shouldn’t be so surprising that gas prices are employed by pundits, alternatively, as scapegoats for low retail sales or as a bellwether for impending upturns. Just about every update on monthly retail sales will include a comment on the general state of the cost of a barrel of crude, and the recent months-long slide in the cost of gasoline might as well have been a holiday among the poor journalists coverin

San Diego 102
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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

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Banking Tours with Purpose

Accenture

While I was a student, I took at summer job working as a bank teller. Though my main objective was to earn enough money to help pay for my school fees and cover a short holiday around Europe, I also. Read more.

Maine 150
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The EMV Shift Has Not Reduced Crime Risk

Payments Source

The capacity for EMV cards to swiftly and drastically reduce payment card fraud in the U.S. is by no means assured.

Fraud 91
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Fintech Trends, Digital Disruption and Tech Titans

Chris Skinner

I don’t always want to just repost other documents, but there are 428 pages of reports that came onto my desk this week and I think they’re worth sharing. The first report is about Fintech trends (316 pages) and Money of the Future by Life.

Trends 188
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Square expands payments processing service with new APIs

Payments Dive

Build with Square enables merchants and software developers to add payment acceptance options either at the register or online.

Payments 150
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.