Payments Dive
AUGUST 30, 2018
Every consumer is a digital consumer, and to be in banking means you have to be in digital banking. Frankly, digital is no longer an expense; it's a necessary investment that can deliver real returns for the financial institution.
Bank Innovation
AUGUST 29, 2018
The rise of alternative data has allowed fintechs to go beyond Fico scores to determine the financial risk of a borrower. With this data, some fintechs are looking to facilitate more loans to thin-file consumers. By using artificial intelligence (AI) and machine learning (ML), the startups can determine a borrowing candidate's financial health and attitude towards […].
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Chris Skinner
AUGUST 30, 2018
I wasn’t going to post this blog but the more it sits in my head, the more I felt I had to write it. Like everyone I expect, I was really shocked by the Genoa Morandi bridge collapse that killed 43 people this month. The idea of driving happily along … The post This bridge collapse is a shocking image of legacy appeared first on Chris Skinner's blog.
PYMNTS
AUGUST 28, 2018
PayPal has increased its foothold in Eastern Europe and Africa, and has boosted its presence in the global remittance market, through a new partnership agreement. Its Xoom service has signed a deal with Euronet Worldwide subsidiary Ria , which will offer Xoom customers cash pickup services “at more than 150,000 of Ria’s international network locations,” according to a statement.
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.
Payments Dive
AUGUST 28, 2018
Andrew Jamieson, the director of security & technology for the identity management & security unit at UL, writes that many technologies that would be enabled by biometrics are still vulnerable to spoofs and hacking.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
AUGUST 30, 2018
I got into an argument after a presentation where I said that active fund management is dead. It wasn’t the best thing to say in front of a group of active fund managers, but I can’t help myself. It’s my background in dealing with programme trading in the 1990s; then … The post A monkey could pick stocks better than me appeared first on Chris Skinner's blog.
PYMNTS
AUGUST 31, 2018
Right now, it looks like a blood pressure cuff with wires and tiny boxes attached to it. Or, perhaps, an oversized watchband, one that was made by a child stuck inside on a rainy day. But it’s only a prototype — one invented by high school seniors in the San Francisco Bay area — that could one day change how blind consumers handle payments and commerce, along with other daily tasks.
Payments Dive
AUGUST 31, 2018
Host Will Hernandez discusses protecting mobile apps and mobile ordering services from fraud, with Kount VP of Marketing, Don Bush. Will also chats with Judy Mottl, editor of Retail Customer Experience, about Amazon Prime Day trends.
Bank Innovation
AUGUST 31, 2018
Digital bank Finn has not given JPMorgan Chase the results it had hoped for, at least not yet, according to CB Insights. “To date, the app has had little traction. However, JPM hopes that in the future Finn will become its ‘entry-level’ customer recruiting tool,” according to the CB Insights report, which was released last […].
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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 27, 2018
I’ve made the comment many times that it is astounding that around $2 trillion is laundered through the banks of the world each year, up from $1.6 trillion in 2009. It’s about 2.7% of global GDP and $1 in every $50 traded through our banks is criminally driven, getting washed through … The post Every $1 in $50 in the banks is laundered money (and maybe more) appeared first on Chris Skinner's blog.
PYMNTS
AUGUST 29, 2018
When trying to understand the new eIDAS regulations set to go officially online in the EU in September, it helps, Trulioo GM Zac Cohen told Karen Webster, to take a step back and look at the general purpose of the European Union. If one were to take a very quick trip back in time to the year 2014, when the eIDAS regulations were first passed, they would see the EU was lagging behind when it came to offering the same single market harmony that was the expected norm across most trade relationships
Payments Dive
AUGUST 29, 2018
How can banks effectively tap into large repositories of customer data. Read our latest paper.
Bank Innovation
AUGUST 29, 2018
Marcus, the consumer lending platform of Goldman Sachs, added a new tool that lets users estimate the value certain renovations would add to the price of their house, before applying for a home improvement loan, Bank Innovation has learned. The move reiterates Marcus’ interest in building its loan offerings in the home improvements sector, as […].
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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 26, 2018
I was having a debate about innovation with a friend. They said that most of what banks were calling innovation is actually business optimisation or, as I call it, incremental improvements. Incremental improvements are doing existing processes cheaper and faster, more effectively and more efficiently, with change. Easy areas to … The post Changing the bank means changing the customer appeared first on Chris Skinner's blog.
PYMNTS
AUGUST 31, 2018
Most people’s first job was babysitting, or delivering the paper, or perhaps working at a local shop. But none of those jobs really appealed to a young Tony Sales – because they weren’t lucrative enough. Fraud, on the other hand, paid extremely well, a fact he learned at the age of 13 when he embarked on his first subscription scam. Sales would go door-to-door soliciting pledges for a charity walk, or a swim to fight cancer or a skate-a-thon, or anything else he could think of.
Insights on Business
AUGUST 27, 2018
Three years ago, a group of IBM Cloud experts, myself included, answered an important question still facing nearly every incumbent bank worldwide today: How can we rethink our architecture to better serve our customers with more innovative applications, through more agile, faster development? Though this question has a simple answer for many industries — move client facing functions to the cloud — it’s not that simple for the financial services industry.
Bank Innovation
AUGUST 28, 2018
When it comes to blockchain, the financial services sector has more distributed ledger projects than any other industry. A new survey, released by accounting firm PricewaterhouseCoopers today, found that among all industries, including healthcare and energy, financial services stood out as the one with the most blockchain-based initiatives. In all, 46% of FI executives polled […].
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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 29, 2018
I just caught a clip from the BBC about Decentraland, a virtual world where you can buy plots of land and next year become part of a virtual world. This world will be owned by its community, has no central authority, is completely decentralised and will flourish in the net. … The post Decentraland: making blockchain-based virtual reality, a reality?
PYMNTS
AUGUST 30, 2018
When you want to know something: Follow the money. In India, then, to find out how well, or not so well, demonetization efforts are playing out, follow the money. News comes this week, per India’s central bank, that cash still is king — more than ever. In fact, the value of cash grew 37.7 percent during a period that was supposed to reduce reliance on paper notes.
Independent Banker
AUGUST 26, 2018
“Community service is a timeless tradition that’s core to every community bank.”. By Rebeca Romero Rainey, President and CEO, ICBA. As I work on this column, I’m in Santa Fe, preparing to speak at the Independent Community Bankers Association of New Mexico’s annual convention. I was chairman of this great organization 10 years ago, and the theme of that convention was “Independent Community Banks—A Timeless Tradition.
Bobsguide
AUGUST 29, 2018
Techfin might be a more appropriate name for the rise of challengers in the UK’s financial services. “This isn’t banking as you know it” immediately greets the eye on Monzo’s website. Elsewhere, bud, the aggregator app, went so far as to claim not to be a fintech at.
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 29, 2018
Things we’re reading today include … Flaw in Fiserv banking platform exposed personal data Deutsche Bank CEO says Europe needs ‘strong banks’ amid merger speculation with Commerzbank Hackers faked Cosmos backend to hoodwink bank out of $13.5m Fresh woe for Turkey as banks are downgraded Argentina burns reserves and asks … The post Things worth reading: 30th August 2018 appeared first on Chris Skinner's blog.
PYMNTS
AUGUST 30, 2018
Brands might want a space to test new concepts with shoppers in brick-and-mortar retail environments, but they don’t always want the time and expense involved in building out a permanent store. To that end, retailers like Macy’s are turning to pop-up shops to showcase brands — and giving them a level of flexibility not often found with traditional stores.
Insights on Business
AUGUST 28, 2018
The word “reinvent” is something you hear all the time. Reinvent yourself. Don’t reinvent the wheel. But what does reinvention really look like? The word reinvent means to change something until it is entirely new. It is nothing less than a complete transformation. This concept of reinvention was the topic of the recent FSM annual flagship event — “Reinventing Financial Services: Leading the Future-Ready Enterprise.
Bobsguide
AUGUST 31, 2018
For banks and financial institutions across the world, cracking down on money laundering has never been more critical. Today global money laundering transactions comprise an estimated two to five percent of the global GDP - roughly $1 - 2 trn annually, according to PwC. The costs of.
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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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