Sat.Oct 27, 2018 - Fri.Nov 02, 2018

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Gartner: you’re better than this

Chris Skinner

I got this headline today: Most banks will be made irrelevant by 2030 – Gartner Within 12 years time, 80% of financial firms will either go out of business or be rendered irrelevant by new competition, changing customer behaviour and advancements in technology, according to forecasts by Gartner. And it … The post Gartner: you’re better than this appeared first on Chris Skinner's blog.

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Mobile payment plays big role in restaurant omnichannel digital experience

Payments Dive

Sean Kennedy, president of Cowboy Chicken, and Modern Market Technology Director Brian Anderson shared insight and tips on crafting a digital experience strategy at the Fast Casual Executive Summit.

Mobile 320
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Can QR Codes Make It in America? SwiftPass Thinks So

Bank Innovation

The scale of mobile payments in China staggers the Western imagination. In 2017, $15.4 trillion in mobile payments were processed, 54% by Alipay, and 39% by Tencent’s WeChat Pay. By the most generous estimation, the U.S. market, though growing steadily, processes a tiny fraction of that amount. The payment solutions company SwiftPass, headquartered in Shenzen, […].

America 250
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Seven Big Threats Facing Seven Big Tech And Payments Players This Halloween

PYMNTS

Halloween , the annual celebration of the spooky and supernatural, is just a couple of days away. For many in payments and the vast ecosystem that it powers, the scariest thing about Oct. 31 might not be the sight of a kid in a full-on Frankenstein costume at the door on Halloween night asking for candy. The day after Halloween marks the 60-day sprint to the end of the year – a year in which the pace of innovation has accelerated materially.

Payments 196
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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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Clash of clans … or new bank versus old bank (Fidor, BPCE) 

Chris Skinner

I was talking with some friends at the most innovative bank in Europe that has stopped getting on my radar for the past few years. I first blogged about them back in 2012, when I met the founder at an event. That bank is called Fidor. Following that first meeting, we became friends, … The post Clash of clans … or new bank versus old bank (Fidor, BPCE) appeared first on Chris Skinner's blog.

Meeting 379

More Trending

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Addressing Key Challenges at the Frontier of Financial Services Marketing

Bank Innovation

There have never been more opportunities – or more challenges – in digital marketing, especially for financial services. With a plethora of channels and corresponding metrics, how do marketers decide which ones to prioritize? And in a digital landscape that’s constantly changing, how can marketers efficiently drive bottom-line impact?

Marketing 250
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How Open Banking Will Test Banks’ Data Security Strategies

PYMNTS

Whether driven by regulation or market competition, the financial services sector in several jurisdictions is progressing toward open banking, interconnectivity and a freer flow of data between customer accounts and third parties. As such, data security has simultaneously emerged as a renewed focal point for the financial services market, because the more data moves and the more actors touch it, the more exposure that information has to nefarious actors.

Security 194
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AI is only as good as the people who program it

Chris Skinner

Artificial Intelligence (AI) is moving at a pace, creating a really interesting online debate the other day about its applications. Specifically, the question was raised about self-driving cars and how they make decisions. For example, when a self-driving car crashes, who should die? This is a question explored in depth … The post AI is only as good as the people who program it appeared first on Chris Skinner's blog.

Examples 315
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Discover’s new CEO sees partnerships driving digital financial networks

Payments Dive

Roger Hochschild, the new president and CEO, sees the company playing a partnership role to many of the smaller, emerging financial networks.

Company 247
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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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Red Hat Explains Why APIs Are Not Enough

Bank Innovation

Red Hat, a multinational software company, will be conducting a webinar called “Why APIs Are Not Enough,” on Bank Innovation’s website next month. The webinar will be delivered by Eric Marts, financial services product manager at Red Hat, and Edson Yanaga, Red Hat’s director of developer experience. Prior to joining Red Hat, Marts shaped solutions […].

Software 186
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How PSD2 And Open Banking Impact Security

PYMNTS

As a result of the passage and adoption of open banking regulations, like PSD2 in Europe, banks and other financial firms are sharing data more freely than ever before. The greater availability of data gives financial institutions (FIs) and FinTech firms alike insight into customers’ behaviors, habits and preferences, allowing them to develop more effective tools, products and features.

Security 192
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Apps, DApps and Super-Apps

Chris Skinner

You’re probably familiar with an app. Maybe you even have some on this thing called a smartphone. I apologise for the few financial guys I know who are still using blackberries, as what follows may blow your mind. Ok, I know that was patronising but there are actually still a … The post Apps, DApps and Super-Apps appeared first on Chris Skinner's blog.

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Insurtech report: The starting and stalling of a sector

Bobsguide

Insurtech entered common vernacular in the market towards the end of 2015, but it’s been slow to take off compared to disruption in other areas. A report last year by the European Insurance and Occupational Authority (EIOPA) said that digitisation had not yet reached the point of truly.

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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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Temenos Sees ‘Backbone’ for Digital Banking in AI

Bank Innovation

In preparation for the future of digital banking, Temenos, the Switzerland-based banking software provider, appears to be putting its money on artificial intelligence. The company announced this month the launch of the Centre of Excellence for Artificial Intelligence to serve as its “innovation engine.” Emily Steele, president for North America at Temenos, told Bank Innovation […].

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Why The Bank-FinTech Relationship Is More Complicated Than Conflicted

PYMNTS

Pick your metaphor: David vs. Goliath. Knocking the giant off the pedestal. Or, as a recent CNBC article put it, quoting a source, “a mass extinction event.”. The subject? The ongoing struggle, supposedly existential in nature, that pits upstart, relatively young FinTech firms against arrogantly complacent banks for supremacy in this new and growing world of digital payments and commerce.

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Keep on grafting

Chris Skinner

Every now and again people like me are drawn back into reality. Sure, I fly business class, sometimes first, and drink champagne at 40,000 feet. I land and stay in luxurious hotels whilst partying with a network of people who are friends, rather than business associates. I eat at fine … The post Keep on grafting appeared first on Chris Skinner's blog.

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Payments outages suggest retail value chain must be reassessed

Bobsguide

Thousands of UK businesses were unable to process payments because of a network outage at the beginning of the week, with reports suggesting Worldpay encountered a temporary fault.

Retail 141
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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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Data: Reinventing the gift card

Payments Source

As the gift card market grows and becomes increasingly digital, so has the product's utility.Thus, many consumers are shifting their habits and buying gift cards for themselves either due to an incentive program or to help with budgeting.

Cards 139
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Fleetcor Beats The Street In Q3, Launches McDonald’s Contactless Payments Collab

PYMNTS

Commercial fleet payments solution provider Fleetcor once again beat Wall Street expectations when it reported its 2018 third quarter earnings data Tuesday (Oct. 30) evening, coinciding with the announcement of a new contactless payment partnership with McDonald’s in Brazil. Total revenues were up 7 percent year over year to $619.6 million, which included a $28 million impact from the adoption of the new revenue recognition standards, ASC 606.

Payments 191
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The Finanser’s Week: 22nd October – 28th October 2018

Chris Skinner

The main blog headlines are … Technosocialism? As if … Someone told me I should start a travel blog, as I fly more than most pigeons do. True. But I’m not sure my travel blog would be read so much. However, it does make me reflect on travel and money. … The post The Finanser’s Week: 22nd October – 28th October 2018 appeared first on Chris Skinner's blog.

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A letter from MPT's new editor: Learning how to drive again in a world that keeps changing

Payments Dive

David Jones, editor of MPT, introduces himself.

How To 186
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Developers find blockchain niches to counter big-data deals

Payments Source

As mega data collaborations among multinational companies threaten to dominate payment technology, developers are digging even deeper into decentralized models as a workaround to sell both greater data analysis and more security.

Big Data 122
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Trick Or Treat (Payments And Commerce Style)

PYMNTS

Halloween is the scariest day of the year for children and parents alike – though for very different reasons. For kids, the proliferation of ghosts, goblins, witches, haunted houses and scary movies tend to have a powerful effect on their sugar-charged minds. For adults, Halloween is the last possible day of the year when it is possible to remain in denial about the fact that Christmas is coming and that Thanksgiving is, for all intents and purposes, tomorrow.

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Data driven models are key to survival for financial services

Bobsguide

The problem is that the financial services industry is hobbled by behemoth legacy systems that make transformation difficult. Data is more often than not stored in silos — disparate, disjointed, and disorganised systems. If upgrading these legacy systems or migrating data was easy, digital.

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5 Multi-Channel Questions Branch Staff Needs to Be Able to Answer

Gonzobanker

Conversations about customer channel migration, branch sales and growth are gaining momentum. But while customers are evolving and adopting less traditional ways of banking, many branches are stuck in a time warp and continue to operate as order takers versus consultative advisors. For years, banks have focused on deposits for driving low cost funds to support commercial lending, but in today’s banking landscape, deposits are making a resurgence as the priority.

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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.