Sat.Jun 16, 2018 - Fri.Jun 22, 2018

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The difference between FinTech and TechFin

Chris Skinner

There’s lots of friction around these days. Banks that get digital and banks that don’t; fintechs that want to change everything and fintechs that don’t; digital currencies to replace fiat currencies and fiat currencies that are going digital; destruction, disruption and disappointment; and more. It just shows the world of … The post The difference between FinTech and TechFin appeared first on Chris Skinner's blog.

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2018 Innovators to Watch: 44 Executives Shaping the Future of Banking [Page 1]

Bank Innovation

PREMIUM – Every year Bank Innovation assembles a list of 44 innovators that caught our attention in digital banking and fintech. These are the people Bank Innovation believes to be this year’s movers and shakers in the industry, paving the way with forward-thinking technologies and ideas. This year the list contains a variety of innovators […].

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Trending Sources

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Are consumers pushing back against the cashless trend?

Payments Dive

Danny Meyer, Union Square Hospitality Group CEO, recently penned a blog post about why his restaurants will continue to go cashless. But is that really what consumers want?

Trends 284
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Secure By Design: Why Privacy Must Be Baked In To IoT Devices

PYMNTS

A connected world is a convenient world for both work and play. Too often, however, the price of convenience is privacy. If data within the Internet of Things (IoT) is not secured properly, it puts people’s overall safety in jeopardy — and it’s not just about loss of sensitive personal data. In fact, according to UL , the even greater threat is that an attacker could take over the functionality of poorly secured devices.

Security 197
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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 Amazonisation of?Banking

Chris Skinner

Last week, our good friend Dave Birch posted a great blog about the Amazonisation of Banking, most of which I agreed with. So I asked Dave if I could repost it here and he said “yes, of course” Thanks Dave. Enjoy! The Amazonisation of Banking… …is very different from Amazon being … The post The Amazonisation of Banking appeared first on Chris Skinner's blog.

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More Trending

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Mezu trumpets privacy with new mobile P2P app

Payments Dive

As consumers become more conscious about which companies they share sensitive information with, a Cleveland-based company has launched a mobile person-to-person app that adds a level of anonymity its co-founder and CEO believes is missing from the market.

Cleveland 279
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Amid Hacks, Bitcoin Is Still Not Ready For Primetime

PYMNTS

What’s a currency to do when it can take down the internet ? Gain in price, amid growing clamor for it, of course. No need to trace the minute details of bitcoin’s pricing. $6,500 or $6,600. Maybe more. Maybe less, and maybe a lot more or a lot less. Check back with us in a few minutes! Beyond the vagaries of price — where some watch technicals, looking for a “floor” or a “peak” and signs amid volatility and rolling averages — fundamentals matter.

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Cryptocurrencies Fail The BIS Test (bitcoinistas aren?t going to like this)

Chris Skinner

The Bank for International Settlements (BIS), the guys who are responsible for Basel regulations and act as the global central bank to all the central banks, caught global headlines yesterday by saying that bitcoin will break the internet. Wowser. I couldn’t ignore this and neither should you so here’s a … The post Cryptocurrencies Fail The BIS Test (bitcoinistas aren’t going to like this) appeared first on Chris Skinner's blog.

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Support for Realtime Payments Increases Among Banks

Bank Innovation

PREMIUM – More U.S. banks are awaking to the idea that supporting realtime payments (RTP) could add value not just to their customers, but to their revenues. A new report titled “2018 Global Payments Insight Survey: Cross-Vertical,” from ACI Worldwide and Ovum released today shows that 86% of banks expect to see improvements in their […].

Payments 249
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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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BofA anticipates customers' needs as AI-driven Erica assistant sees 1M users

Payments Dive

Bank of America launched three months ago what it calls the first widely available AI-driven virtual assistant of its kind in financial services.

America 230
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BBVA Merges Two Units And Debuts Selfie Payment System

PYMNTS

As BBVA steps up its digital efforts, the bank is merging its Beeva and i4S units to form a company called BBVA Next Technologies. The company’s 1,200 tech workers will focus on areas such as artificial intelligence (AI), the blockchain and cloud computing, according to their press release. “BBVA Next Technologies is a company that specialises in emerging and disruptive technologies, that strives to stay ahead of the curve, looks at the future and aims to recruit the best tech talent,” BB

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How new banks differ to traditional banks

Chris Skinner

We know that there are lots of new bank start-ups out there, particularly in Europe where names like N26, Bunq, Fidor and Monzo stand out. In particular, the UK’s Monzo bank is notable. It is notable for a variety of reasons – the fastest crowdfunding of a new bank, the … The post How new banks differ to traditional banks appeared first on Chris Skinner's blog.

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Fintech Unfiltered: N26 Decides Against Banking License for U.S. Launch [PODCAST]

Bank Innovation

Should fintech companies with banking ambition get a license or partner with a bank for one? This is an important distinction for a challenger bank, almost an existential question. Berlin, Germany-based challenger bank N26, which has a banking license in Europe, has decided to go with the partnership route for the license in the U.S., […].

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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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Pret A Manger Hits 90-Day Customer Acquisition Goal in 36 Days with LevelUp

Payments Dive

Discover how Pret A Manger increased orders per store, guest frequency and customer acquisition with the launch of their new Level-Up powered app and digital engagement program.

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L?Or?al Unveils Live Makeup Consultations With Augmented Reality

PYMNTS

Putting a digital spin on makeup try-ons, L’Oréal is using augmented reality (AR) to enable beauty advisers to virtually put suggested products on a customer’s face as part of a consultation. The feature, which is dubbed Live Makeup Consultation, will launch for L’Oréal’s NYX Cosmetics brand, Retail Dive reported. With L’Oréal’s technology, customers can ask for product recommendations through video chat.

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Thawing the frozen middle (how to change the bank)

Chris Skinner

I sometimes think I’m too harsh on the financial community, with my continual banter about core systems change, lack of digital leadership, inability to see how critical digital is to their future and the impact FinTech is making on global financial structures. I sound like a broken record and rarely … The post Thawing the frozen middle (how to change the bank) appeared first on Chris Skinner's blog.

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INV Fintech Revamps Site and Launches New Community, INV Edge

Bank Innovation

INV Fintech, this site’s sister accelerator, announced today a comprehensive rebrand and the launch of an online community. INV’s brand has been completely reimagined with a new logo, color scheme, and website layout that realigns the brand with its profound passion for innovation. In addition to a new, modern design, extensive improvements have been made […].

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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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How To Pick a Digital Solution Partner for Your Brand

Payments Dive

Understand the key criteria you should consider when choosing a partner to launch your restaurant digital engagement program.

Branding 186
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Walmart Wins Three Blockchain-Related Patents

PYMNTS

Walmart has been awarded three patents for blockchain-backed technology, according to a report Monday (June 18) in Cryptovest. One of the patents covers a system that would let households manage their electricity bills through cryptocurrency, and would be operated with a public blockchain. “Currently, energy providers deliver energy to locations that inefficiently use the energy, which leads to increased energy costs for consumers,” the Walmart patent filing said.

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Things worth reading: 22nd June 2018

Chris Skinner

Things we’re reading today include … Driver of City PR chief Roland Rudd quizzed by insider dealing watchdog The Rich Column: why private bankers need to appeal to millennials US banks pass financial stress tests Bank of England to get sweeping new powers as Chancellor says UK will not be … The post Things worth reading: 22nd June 2018 appeared first on Chris Skinner's blog.

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PayPal Makes a Grab for Marketplace Payments with Hyperwallet Acquisition

Bank Innovation

PayPal made a strong move into the group payments space with the announcement it will purchase Hyperwallet for $400 million. The deal is expected to close in the fourth quarter. Hyperwallet allows for businesses such as Etsy, eBay or Uber to easily make disbursements to multiple merchants or drivers, even across international borders. The company […].

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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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South Africa G2P Transfers

Payments Dive

South Africa is an advanced market with a higher level of financial inclusion than other middle income-countries in Sub-Saharan African.

Marketing 170
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NEW DATA: The Three Cs Of Disbursement Satisfaction And Why They Matter To Consumers

PYMNTS

What is the key to meeting consumers’ payment preferences? According to a survey of 2,300 respondents, it all comes down to the three Cs: convenience, certainty and choice, the latest edition of the Disbursement Satisfaction Index reveals. In terms of convenience, speed is priority. When it comes to getting paid, consumers want quick and easy access to their funds – without the common frictions involved with a paper check.

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The Finanser?s Week: 11th June 2018 ? 17th June 2018

Chris Skinner

The main blog headlines are … Bank reincarnation: the best way to become a digital bank There was an interesting discussion at #Money2020 about Business Reincarnation. It’s a rather dramatic term, especially if you don’t believe in reincarnation, but it does help visualise the idea. Like a Phoenix from the … The post The Finanser’s Week: 11th June 2018 – 17th June 2018 appeared first on Chris Skinner's blog.

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KeyBank Acquires SMB Lending Tool Bolstr, Plans to Originate $2.5 Billion in Loans in 5 Years

Bank Innovation

For a long time, expensive underwriting kept banks away from small business lending. But not anymore. The most recent example of a bank taking note of this area is KeyBank’s acquisition of Bolstr’s SMB-focused digital lending platform, which it announced this week. Terms of the acquisition were not disclosed. Founded in 2010, Bolstr is a […].

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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.