Sat.Feb 02, 2019 - Fri.Feb 08, 2019

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Is the branch dead?

Chris Skinner

A regular discussion of mine has resurfaced in recent days: is the branch dead? Why it has returned is due to the announcement of Santander closing a fifth of its UK branch network: The Spanish-owned bank, which has one of the largest high street networks in Britain, will shut 140 branches, leaving … The post Is the branch dead? appeared first on Chris Skinner's blog.

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Blockchain potential reaches beyond payments to transforming cities

Payments Dive

Futurist Ian Khan sees the potential for blockchain going beyond revolutionizing the payments industry to transforming entire cities.

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Fintech CoverWallet Proves Crucial to Zurich Insurance Group’s Growth in Spain

Bank Innovation

Insurance management software provider CoverWallet was the biggest source of growth for Zurich Insurance Group's SME business in Spain last year. As a result of this success, Mario Greco, CEO of the Swiss insurance company noted that the CoverWallet service will be expanded to its customers in Switzerland in 2019. Greco noted in the earnings […].

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Mastercard, Brex Pair On Biz Travel Rewards

PYMNTS

Brex has announced that it is partnering with Mastercard to issue the World Elite Mastercard for Business, offering an enhanced rewards structure and expanded suite of travel benefits. Started in 2017 by the founders of Brazilian payments processor Pagar.me , Brex’s investors include Y Combinator Continuity, Ribbit Capital, Greenoaks, DST Global, Peter Thiel and Max Levchin.

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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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Why banks should stop closing branches

Chris Skinner

I wrote my blog about the bank branch being dead yesterday, just as a new report called for banks to stop trying to be cashless and branchless because it harms society. This is from the RSA (Royal Society for the encouragement of Arts, Manufactures and Commerce), an association founded by … The post Why banks should stop closing branches appeared first on Chris Skinner's blog.

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Which Bank Brands Were All the Buzz in 2018?

Bank Innovation

JPMorgan Chase had the highest "buzz ranking" among banks in 2018, according to YouGov's Brand Index, an annual poll measuring which brands are considered the best by consumers. Participants were asked, “If you’ve heard anything about the brand in the last two weeks, through advertising news or word of mouth, was it positive or negative?” The Buzz […].

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Twitter CEO Supports Bitcoin, Faster Payments

PYMNTS

Jack Dorsey, billionaire tech founder and current CEO of Twitter, said he only owns bitcoin and that he supports the Lightning Network , a bitcoin network update that could make bitcoin payments speedier and less expensive, according to reports. Dorsey tweeted on Tuesday (Feb. 5): “I only have bitcoin.” Dorsey also founded payment company Square , which allows users to buy and sell bitcoin through the Cash app.

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EQ Bank, Canada: a customer-obsessed bank

Chris Skinner

A few years ago, I was invited to talk with Equitable Bank in Canada about digital banking. Since then, they’ve launched their digital bank called EQ Bank. So I was pleased when Simon Wahl, who heads up marketing at Flinks, sent me a podcast interview with Andrew Moor, EQ Bank’s … The post EQ Bank, Canada: a customer-obsessed bank appeared first on Chris Skinner's blog.

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The Future of Fintech Video Series: Uphold

Payments Dive

This interview is part of a video series, “The Future of Fintech,” produced by Mobile Payments Today and powered by Galileo Processing.

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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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Blockchain, Not APIs, Is Key to Faster Payments, Report Says

Bank Innovation

Most finance professionals are not using APIs to facilitate faster payments, according to a new report from TD Bank. Even more surprising is that many of them don’t intend to use APIs in the future. Faster payments is a top priority for many FIs, the TD Bank survey found. About 60% of respondents expect to […].

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Good Healthcare Requires Good Data — And Blockchain And Biometrics, Too?

PYMNTS

This isn’t some cheap dose of “ Little House on the Prairie ” nostalgia, but rather a shot of truth: We are a long way from small-town doctors treating patients for decades and lifetimes — after treating their parents, and perhaps even grandparents as well. Not only that, but healthcare is infinitely more complicated than it was in the 19th-century Doc Baker days — thanks to scientific advances and the collection, analysis and use of sophisticated patient data.

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The next global financial meltdown is just around the corner

Chris Skinner

Yep, there’s a clickbaiting title if ever I saw one. But it seems to be true. Ten years ago, we had a global financial crisis. Now, ten years later, the banks are heavily regulated, their risk-capital ratios stabilised, their leverage reduced and the regulators breathing down their necks, promoting competition … The post The next global financial meltdown is just around the corner appeared first on Chris Skinner's blog.

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The Future of Fintech Video Series: PyggyBank

Payments Dive

This interview is part of a video series, “The Future of Fintech,” produced by Mobile Payments Today and powered by Galileo Processing.

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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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2019 Looks Promising for Fintech Partnerships, Bank Innovation Poll Finds

Bank Innovation

There are startups that want to destroy banks and startups that want banks to buy their software, as Bank Innovation has previously reported. According to a recent poll conducted by Bank Innovation, the idea that fintech partnerships will be on the rise in 2019 compared to subsequent years, is gaining popularity. The poll found that 61% of 106 […].

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Artificial Intelligence Innovation Steered By U.S. and China

PYMNTS

Artificial intelligence has started — slowly — to make its presence felt in payments and commerce, including in fraud prevention, via early deployments of the technology and cutting-edge AI algorithms. And with those deployments comes increasing awareness of what AI can really do, how it can improve upon less sophisticated machine learning technology, and why it promises to play a vital role in the daily lives of consumers in the coming decades.

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Oliver Wyman recommend banks don’t try to be digital? What rubbish!

Chris Skinner

There was quite a bit of coverage of an analyst report last week, putting forward the notion that big banks should forget converting the existing organisation, systems and structures, and start over. This one is from Oliver Wyman and, for me, it goes straight into the same bin as the Gartner … The post Oliver Wyman recommend banks don’t try to be digital?

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The Future of Fintech Video Series: LiquidKlear

Payments Dive

This interview is part of a video series, “The Future of Fintech,” produced by Mobile Payments Today and powered by Galileo Processing.

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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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Amex and Mastercard Zeroing In on Businesses with New Partnerships

Bank Innovation

Today American Express and Mastercard launched new offerings geared toward business clients. Amex and digital business payments firm Bill.com announced a strategic partnership along with the rollout of Vendor Pay, an automated accounts payable product that will allow businesses to use certain Amex credit cards within a Bill.com solution. The product will also provide a more […].

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Why Airlines Need To Get Their Wheels Up On Alt Payments

PYMNTS

Time is up. That — according to CEO Kristian Gjerding of CellPoint Mobile and CEO Ralph Kaiser of Universal Air Travel Plan (UATP) — is the reality that airlines and other travel vertical players must wrap their minds around when it comes to thinking beyond card payments from leisure customers. Players can either get on board — and start leveling up their systems quickly — or risk watching their market share shrink fast.

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Things worth reading: 7th February 2019

Chris Skinner

Things we’re reading today include … How much Australia’s banking and finance CEOs earn Bank royal commission insider trading claim is ‘b t’ Don’t bank on Google Bank, bank on banks becoming Google-like An Amazon Checking Account Could Displace $100 Billion In Bank Deposits (But It Won’t) UBS gets approval to … The post Things worth reading: 7th February 2019 appeared first on Chris Skinner's blog.

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Digital states: Cryptocurrency rules and regulations across the US

Bobsguide

The US handles almost a quarter (22.6%) of all bitcoin volumes, according to coin.dance statistics, yet regulators across the country’s 50 states have different rulings on the legality and usage of virtual currencies. Under the Supremacy Clause (Article VI, Clause 2) of the Unites States.

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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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Bank Innovation’s Top 3 Posts in January

Bank Innovation

January marked a busy start to the year for banking and fintech. It was a month full of acquisitions and deals in the fintech space, as well as plenty of earnings reports from some of the biggest banks in the U.S. indicating digital shifts large and small are paying off. But which Bank Innovation stories caught […].

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Amex, Bill.com Launch Vendor Pay

PYMNTS

American Express and Bill.com have announced a partnership to introduce an accounts payable solution to joint customers. In a press release on Tuesday (Feb. 5), the companies revealed the rollout of American Express Vendor Pay by Bill.com. The solution allows Bill.com users to pay suppliers via American Express Business or Corporate Card using virtual card technology, negating the need for companies to open a new card account.

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Things worth reading: 4th February 2019

Chris Skinner

Things we’re reading today include … Australia bank inquiry does not recommend individual criminal charges Wirecard says law firm found no findings of criminal misconduct Banking royal commission final report a scathing account of ‘conduct driven by greed’ – politics live Australian banking inquiry recommends new watchdog for regulators Royal … The post Things worth reading: 4th February 2019 appeared first on Chris Skinner's blog.

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How financial services firms are using chatbot technology to transform their businesses

Insights on Business

The IBM Watson Assistant team has been busy in the past year helping clients implement state-of-the-art chatbots. The financial services industry is one of the fastest adopters of this technology. As a result, at IBM Think 2019 you’ll be able to find a number of client-led sessions. IBM scores at the top in analyst ratings for chatbots. First of all, why IBM in the chatbot arena?

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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.