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
AUGUST 17, 2017
Silicon Valley, New York City, and Boston all have thriving fintech communities, and are definitely worth a trip for the invested fintech entrepreneur, but the U.S. is already seeing a cluster of other fintech hubs emerge. These cities boast strong tech communities, talent pools, good coffee, and cheaper rents. Cities in Georgia, Texas, Florida, and […].
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Payments Dive
AUGUST 17, 2017
Across the globe, financial institutions are under mounting pressure to meet high consumer expectations, capture and retain market share, and secure mobile transactions – all at the same time. Some are lagging, while others are upgrading technologies and investing in innovation and testing departments. So, how did we get here?
PYMNTS
AUGUST 10, 2017
Banks and FinTech companies have a complicated history. To put it mildly, the two sides have not always worked harmoniously together. Why the tension? Both types of institutions contend for the same business in the competitive financial services world. While traditional banks offer a more established and tested set of products, the offerings of newer FinTech companies — such as real-time data, streamlined payments and quick notifications — are helping these new players encroach on banks’ t
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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
Payments Source
AUGUST 10, 2017
Oracle Corp. is offering a payments application programming interface based on the ISO 20022 standard that will allow banks to more easily collaborate with fintechs and other third parties.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
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
AUGUST 18, 2017
Focusing on commerce and mobile shopping led to a 56% year-over-year revenue jump for Ant Financial’s parent company Alibaba, and the company is going to keep that focus as it moves forward into the U.S. market. Alibaba’s revenue grew to about $7.4 billion, the company reported during its earnings yesterday, mainly due to the tight […].
Payments Dive
AUGUST 4, 2017
Mobile remote deposit capture is not the trendy feature it once was for banks. It's expected. Today, consumers desire a way for banks to help them make the best decisions with their money.
PYMNTS
AUGUST 31, 2017
Blockchain, the technology that makes cryptocurrency like bitcoin possible, is moving into the auto and ridesharing markets. According to a news report in Reuters , EY, the consulting unit of Ernst & Young Global, announced Wednesday (Aug. 30) it is launching a blockchain system that will let companies and/or individuals share vehicle ownership more easily.
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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
Payments Source
AUGUST 27, 2017
Financial institutions need to take notice of this phenomenon and ramp up their payments infrastructure to support these developments, writes Chet Kamat, senior vice president of Oracle Financial Services.
Bobsguide
AUGUST 23, 2017
Madhur Jain, Global Head, Pre-Sales at SunTec Business Solutions, is one of the fintech industry’s most insightful analysts on the subject of digitalization of banks and the shift to omnichannel retail banking solutions. Madhur sat down with bobsguide last month to speak about the need for.
Chris Skinner
AUGUST 25, 2017
I get press releases all the time and generally ignore them. In fact, I don’t know why they email me, as I never post them on the blog. Uh-oh. I just got one that I’m posting on the blog. Floodgates opening. What will happen when Amazon opens a bank. … The post Is Amazon About to Burst Banks? appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 25, 2017
It is no secret that Mobile Banking is increasing becoming a popular way of banking for many users. Its convenience and efficiency has made it an important way of banking. In fact, in a report published by RaddonSM, a subsidiary of Fiserv, shows that mobile banking usage has grown from 7% of all consumers in […].
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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 Dive
AUGUST 28, 2017
Since the introduction of contactless cards in September 2007, it has gradually become the payment method of choice for many consumers in the U.K as society gradually moves away from cash.
PYMNTS
AUGUST 23, 2017
Being connected via modern technology is something that’s becoming an expectation among consumers. From groceries to home buying, back-to-school shopping and more, there doesn’t seem to be many facets of everyday life that aren’t intricately connected to help provide an enhanced experience for consumers. One of the latest industries to start exploring in connected technologies are banks.
Gonzobanker
AUGUST 15, 2017
The American auto industry is on the verge of a bubble that is ready to pop. I won’t go as far as to say we are headed to a period of total stagnation where nothing moves and prices drop 50%, but rather we are moving toward an adjustment period where we will experience a new normal. As the players that have financed the recent boom in vehicle sales start to feel the burn of this downward shift, the C-suite will need to start strategizing for this adjustment.
Bobsguide
AUGUST 24, 2017
It’s now less than six months until the Payment Services Directive 2 will come into effect. With national legislation in each of the 28 countries currently in the European Union due by January 13, many banks and financial institutions are currently preparing how to be compliant. For teams.
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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 18, 2017
I was talking with a few FinTech firms the other day. They are all fully licensed banks, and are less than 15 years old. They all seem to have one thing in common: refreshment. What I mean by this is that they talk about technology in a very different way … The post How often does your bank refresh its apps and architecture? appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 21, 2017
Could personal finance management be the next chapter in free credit-score provider, Credit Karma growing business? Could it leverage its consumer data to branch out into the popular PFM space? Maybe. “We are not engaged in it right now,” Greg Lull, Chief Marketing Officer at Credit Karma, told Bank Innovation. “But I wouldn’t take it […].
Payments Dive
AUGUST 8, 2017
Banks need to find a way to create and maintain great relationships with existing and perspective customers. But alternative institutions are providing that experience, particularly of the mobile variety.
PYMNTS
AUGUST 15, 2017
The growing popularity of mobile order-ahead is hardly news in the restaurant industry, where customers — especially millennials — crave the convenience, speed and personalization of a mobile ordering experience both in quick-service restaurants (QSRs), coffee shops and fast-casual dining environments. Here at PYMNTS, we’ve followed the trend closely, both in our regular coverage and in our Mobile Order-Ahead Tracker.
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Payments Source
AUGUST 2, 2017
Plenty of U.S. merchants still working to complete their migration to EMV now have another high-pressure technology hurdle to worry about: Most are still using a core transaction security protocol set to expire in the next 11 months and if they don’t take appropriate action they’ll be unable to process transactions.
Bobsguide
AUGUST 30, 2017
The European Union’s new data protection regulation, the GDPR, gives EU citizens ultimate control over their personal data. But when did we lose control? And why? In the first of a two-article series Ben Gould, Managing Director, EMEA & APAC, Opus Global, outlines the aims of GDPR.
Chris Skinner
AUGUST 11, 2017
Just found an interesting document from Harvard Business Review with the title: How financial services views the digital agenda. It is the result of research conducted by the Harvard Business Review with the Genpact Research Institute, looking at the impact of dgitilaisation in finance, and confirms something I have been … The post Banks are failing digital due to legacy and leadership (Harvard research) appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 11, 2017
It’s startup season: the accelerators are adding their new classes, the venture capitalists are packing on the funding, and bright new fintechs are setting launch dates. Take a look at just five of these startups that Bank Innovation will be watching this month: Cushion Arguing with a bank over fees is one of the least […].
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