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 […].
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?
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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.
Abrigo
AUGUST 16, 2017
A recent Sageworks whitepaper addresses how banks and credit unions can leverage digital channels to grow the loan portfolio and remain competitive with the emerging trend of alt-lenders in the small business lending space. The banking industry has historically been able to play defense against newcomers because of regulatory and legal barriers to market entry.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
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 […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
AUGUST 15, 2017
I received an email the other day pointing my attention to a report from the Center for Financial Inclusion at Accion (CFI), a think tank that engages and challenges the industry to better serve, protect and empower for financial inclusion. I had not heard of CFI before, but their website and content … The post How Banks and Fintechs are partnering for Financial Inclusion appeared first on Chris Skinner's blog.
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.
Bank Innovation
AUGUST 16, 2017
Toronto is becoming quite the hub for Canadian fintech, and with its new focus on blockchain, voice technology, and mobile, TD Bank is not letting itself fade into the background of that innovation. “We’re in the middle of a revolution where technology in the hands of users is empowering them and really exceeding expectations,” Rizwan […].
Payments Dive
AUGUST 15, 2017
Do consumers see the value in every self-checkout option available to them from different restaurants and retailers?
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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
Chris Skinner
AUGUST 17, 2017
I keep trying to define and delineate more and more of this FinTech Wave. It is no longer FinTech, but PayTech, IDTech, InsurTech, WealthTech, RegTech, GulfTech and more. The thing that strikes me the most is that there are two fundamentally different FinTech camps: those attacking existing business structures and … The post Diving into the FinTech Wave appeared first on Chris Skinner's blog.
PYMNTS
AUGUST 17, 2017
When it comes to open banking, there’s a clear choice in place: by fiat, which includes formal processes, or by evolution, which would imply letting the market dictate what happens. In Europe, of course, PSD2 looms large and soon, and financial institutions have been handed a roadmap for implementation of data sharing. Here in the United States, the road is less clearly defined.
Bank Innovation
AUGUST 16, 2017
Mobile and electronics company, Samsung and Bank of America will start working with a focus group over the next six months, as they pilot the iris authentication scan that will allow customers to log into their bank accounts on their mobiles by taking a picture of their eye. The focus group consists of 1, 5000 […].
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.
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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
Chris Skinner
AUGUST 15, 2017
I enjoyed this article in the Evening Standard by Melanie McDonagh and thought I would share it here, to see what reaction it gets. The loss of our high-street banks will make us all poorer — but not financially If you have tears, reader, prepare to shed them now. My bank in Berkeley … The post The loss of our high-street banks will make us all poorer appeared first on Chris Skinner's blog.
PYMNTS
AUGUST 14, 2017
APT 28, a cyber spying group that is suspected to be connected to military intelligence in Russia , was likely behind a cyberattack of hotel guests in countries mainly in Europe in July. Researchers at FireEye, the security firm, said in a research report covered by Reuters that the Kremlin hackers were aiming to steal the password credentials for business travelers and Western government officials using Wi-Fi networks in hotels mainly in eight countries in Europe.
Bank Innovation
AUGUST 17, 2017
Mobile wallets may be all the buzz, but debit cards were still the most popular of payment method in the U.S. in 2016, according to a recent report by PULSE. According to the 2017 Debit Issuer Study released earlier this week, debit card transactions were at a record high in 2016, with 23.6 transactions per […].
Bobsguide
AUGUST 17, 2017
By Silvan Arpagaus - Manager, Iris Grewe - Partner, Ronald Frey - Partner, at BearingPoint. Financial institutions are exposed to a greater regulatory pressure on the part of various national and international authorities, especially from Europe and the USA. The Foreign Account Tax Compliance.
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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, 2017
Last week marked ten years since the financial crisis hit. On August 9 2007, BNP Paribas froze three of its American funds, the first in a chain of events which would lead to the biggest recession since the Great Depression. These funds were tied to American subprime mortgages and the … The post Ten years since the crisis hit, what’s new?
PYMNTS
AUGUST 15, 2017
Aldi, the discount grocery chain, is gearing up to test home delivery with Instacart at the end of August. According to a report, if the pilot goes well the test will expand to parts of Atlanta, Dallas and Los Angeles. The latest move is part of the company’s big expansion plans. In June it acquired around 1,700 stores and plans to invest $3.4 billion to expand into 2,500 locations around the country by the end of 2022.
Bank Innovation
AUGUST 14, 2017
Wells Fargo has been going through a rough patch lately, but the bank itself is focused on moving forward. This is especially true when it comes to digital banking. The San Francisco-based bank is looking at partnerships as a way of improving banking experience for its current digital users (including mobile). “We are trying to […].
Bobsguide
AUGUST 14, 2017
The financial industry remains one of the largest and most highly scrutinized and regulated industry’s in the world. In the U.S. alone FINRA, a not-for-profit organization authorized by Congress to protect America’s investors, keeps watch over 632,740 brokers representing over.
Advertiser: Data Robot
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.
Chris Skinner
AUGUST 13, 2017
This week’s main blog headlines are … Banks are failing digital due to legacy and leadership (Harvard research) 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 post The Finanser’s Week: 7th August – 13th August 2017 appeared first on Chris Skinner's blog.
PYMNTS
AUGUST 14, 2017
Wells Fargo is facing a fresh lawsuit contending the bank’s Merchant Services Unit overcharged small businesses for the payment processing of their credit card transactions. According to a news report on CNN.com , citing a lawsuit filed in U.S. District Court, Wells Fargo also hit business owners with “massive early termination fees” and targeted business owners who weren’t as savvy, by using “deceptive language.
Bank Innovation
AUGUST 15, 2017
FICO is moving major services to the cloud, and that may mean good times ahead for lending startups. The financial services firm announced its integration with Amazon Web Services (AWS) during yesterday’s AWS Summit, making it one of several financial services companies now running (at least in significant part) on Amazon’s cloud service, including banks […].
Bobsguide
AUGUST 15, 2017
Over the past decade the vast majority of businesses have invested heavily in collecting reams of customer data; indeed this data increasingly informs every aspect of business strategy. It may, therefore, come as a surprise to many CMOs and CXOs to discover that a number of IT teams are planning to.
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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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