Chris Skinner
AUGUST 30, 2016
I recently opened an investment fund for blockchain start-ups in partnership with Life.SREDA, who produce a report on the state of FinTech twice a year. The latest report, almost 300 pages of analysis, provide more insights of the first half of the year in FinTech [Money of the Future 1H’2016 and Chinese, Korean and Japanese … The post The three sexiest words in FinTech appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 29, 2016
Thought you were done hearing about Square for the month? Think again! The company is building momentum on its already-fabulous year by partnering with point-of-sale companies TouchBistro and Vend, who in previous years probably would have been thought of as Square’s competition. “We’ve always been impressed by Square’s very elegant Read More.
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Payments Dive
AUGUST 30, 2016
At the recent CONNECT Mobile Innovation Summit, executives discussed how providing the best omnichannel experience should be a top priority.
PYMNTS
AUGUST 29, 2016
With the rise of Amazon Prime and eCommerce , more packages are being delivered to customers’ homes than ever before. It’s now possible to order everything online for in-home delivery from groceries to pet food to toilet paper, and consumers can usually get those items delivered to their doorstep overnight or in a manner of hours. The U.S. Postal Service delivered 4.5 billion packages in 2015, a big jump from the 3.3 billion in packages it delivered to customers in 2011, and now accounts for abo
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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
Independent Banker
AUGUST 25, 2016
Wisconsin bank uses LEAD FWD Summit as a development resource. By Tim Cook. You can feel the energy boost at Park Bank from its leadership development program. Young employees at the community bank in Madison, Wis., are excited. They’re learning new skills. They’re undertaking new challenges. They’re contributing new ideas. “It really gives people a sense of ownership,” explains James Hegenbarth, the bank’s president and CEO of the employees who have participated in the leadership development pr
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
AUGUST 29, 2016
Apparently, I am a miscreant. I am the one guy who managed to break PayPal. What? OK, here’s the story. The next 2,000 words tell the story but, if you’d rather miss that and cut to the chase, jump to the end. Most of my customers wire me the money. American customers are more of … The post Creating PayPal’s Perfect Storm appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 30, 2016
It may come as a surprise to many of us that consumers are generally satisfied with their banking relationships. However, this doesn’t mean that banks have nothing to worry about. Alternative providers and FinTech companies present a double-edged risk to traditional banks. First, there is the eminent danger of a Read More.
Payments Source
AUGUST 14, 2016
Nostalgia no doubt helped drive the recent Pokémon Go phenomenon, but another factor — one that will become critical to retailers’ future success — was also at play.
PYMNTS
AUGUST 30, 2016
The worldwide eCommerce industry is headed towards a $781 billion valuation by 2024. That figure, released earlier this month by Transparency Market Research, is driven by the increasing adoption of international eCommerce capabilities by sellers. In its analysis, Transparency Market Research said this growth will bring new business to a host of service providers. “The whole pie is expanding in every direction, and there may be enough to serve everyone, from the traditional logistics giant
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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
Independent Banker
AUGUST 25, 2016
Advocacy Advocate—ICBA’s Joshua Harbursky works to assist community bankers with their industry policy engagement with lawmakers and regulators. ICBA’s advocacy director talks about fostering a culture of advocacy. CBA Director of Advocacy Joshua Habursky recently joined ICBA to head grassroots outreach. With Congress returning to Washington this month for an abbreviated session ahead of the November elections, Habursky has been working to expand community bank engagement with federal lawmakers
Bobsguide
AUGUST 31, 2016
bobsguide spoke to Sven Bossu, who heads up Sibos, the biggest event in banking technology, put on by the Society for Worldwide Interbank Financial Telecommunication, or more commonly known as SWIFT. This year’s event is expected to bring in thousands of attendees to discuss the transformation.
Chris Skinner
AUGUST 31, 2016
I didn’t realise until the other day that the Bank of England has a blog Bank Underground. Finally, a boring old British bank with a blog. Not a consumer bank of course – none of those blog – but a good old central bank. The Bank makes clear it’s not the opinions of the institution … The post Could central bank digital currencies kill monetary policy?
Bank Innovation
AUGUST 31, 2016
By now, crowdfunding is just another investment tool — like any other, it has its benefits and disadvantages as a source of capital. But the concept of allowing for individual investors of all experience levels has proven its worth, especially as fintech integrates with other industries: like the art world, Read More.
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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.
Payments Source
AUGUST 30, 2016
CHICAGO – Mobile wallets are evolving in the key areas of availability and consumer awareness, but they continue to lack in the critical aspect of convincing users of their value, said Google executive Jack Connors.
PYMNTS
AUGUST 30, 2016
It might seem like a weird contradiction, but mobile shopping apps are changing the way that customers engage with and shop at traditional brick-and-mortar retailers. “Most shoppers are now armed with a mobile device when they enter a retail store,” according to a study on mobile apps by MicroStrategy , a global analytics company. “They are highly informed and expect the retail employees they interact with to be at least (if not more) knowledgeable about a store’s products, promotions and servic
Independent Banker
AUGUST 31, 2016
How to avoid e-signature “gotchas”. By Mark Pfeifer. E-signature is a hot technology now in the industry; many community banks are adopting the technology to keep pace with consumer demographic preferences. If your community bank hasn’t already looked into using e-signatures, now is a good time to start. Community banks are in a good position to avoid compliance “gotchas” that early adopters learned the hard way when implementing e-signatures.
CFPB Monitor
AUGUST 31, 2016
Anthony C. Kaye. According to Politico, Holly Petraeus, Assistant Director of the CFPB’s Office of Servicemember Affairs, will be retiring from the CFPB. During her tenure at the CFPB, the protection of military servicemembers and their families has been a focus of CFPB supervisory and enforcement activity. Among other things, Ms. Petraeus was a vociferous advocate for the Department of Defense’s rule expanding the protections of the Military Lending Act , which, with the exception
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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.
Chris Skinner
AUGUST 14, 2016
Here are our key posts for the past week … Renewing core systems is like renovating the subways Someone recently equated banks and their systems and structures, to the underground in London. It’s a lot of pipes, wires, cables and tunnels that were built in the Victorian times and are still operating today. You have … The post The Finanser’s Week: 8th August – 14th August 2016 appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 30, 2016
Despite the ongoing efforts of banks to attract millennials, they are still failing to make an impression. According to Gallup, only 23% of millennials are actively engaged with their bank, making millennials the least engaged generation. Considering that fully engaged customers bring considerable benefits and higher revenues – this is a big problem.
Let's Talk Payments
AUGUST 30, 2016
With millennials comprising over a quarter of the US population, companies across industries are turning their priority and attention to creating products which can cater to this group with its.
PYMNTS
AUGUST 30, 2016
Singapore is preparing for a FinTech revolution. The small nation is making a big push in support of FinTech innovation by reforming its payment laws. Singapore’s financial authority said it will look to consolidate existing legislation related to payment systems, stored value facilities and remittance businesses in order to create a new combined regulatory framework. “A more calibrated regulatory regime, applied on an activity basis to payment service providers, rather than specific payme
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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.
Independent Banker
AUGUST 31, 2016
By Terry Dooley. As chip cards become standard, counterfeit card fraud in the U.S. tends to decrease dramatically (compared with Europe and Canada). But we know scammers can simply switch strategies. Here are five ways to fight fraud in the wake of the widespread deployment of EMV chip cards. Keep current on tools, trends and tactics. Since the fraud liability shift at the card networks in October 2015, we’ve seen more skimmers on outdoor gas pumps; fraudsters know those machines’ EMV conversion
CFPB Monitor
AUGUST 31, 2016
Barbara S. Mishkin. The Small Business Administration’s Office of Advocacy will host a roundtable in London, Kentucky on September 14, 2016 on the CFPB’s proposed payday loan rule. As the Office of Advocacy is an independent office within the U.S. Small Business Administration, the views expressed by the Office of Advocacy do not necessarily reflect the views of the SBA or the Administration.
Chris Skinner
AUGUST 31, 2016
Things we’re reading today include … 60 SECONDS WITH: Vernon Hill, 71, Founder Metro Bank Challenger bank Fidor adopts ‘attack formation’ U.S. tax code may allow dramatic retaliation in EU Apple case London will remain the top financial centre post-Brexit, says Deutsche Bank chief Brexit so far Swift warns banks about hacker theft Mark Carney … The post Things worth reading: 1st September 2016 appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 30, 2016
#BigData is not a phenomenon unique to fintech: basically every consumer-focused service with the money to do so has been utilizing it since the term was first coined in the late 90s; or even before that point, really, as using data to make decisions is the literal definition of deductive Read More.
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