Chris Skinner
JANUARY 20, 2019
Ever since I started working in business process re-engineering and transformation a while ago, before most millennials were born I should say, I learnt a lesson early on. Transformation will never work without a crisis point. You cannot make the whole company change if profits are good, objectives are being … The post Digital transformation needs a burning platform appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 22, 2019
Eight major trends will help define the landscape of mobile payments in 2019, according to Mark Flamme of AlixPartners.
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Bank Innovation
JANUARY 24, 2019
Wells Fargo & Co. will add additional enterprise-level digital capabilities, APIs, and SDKs to its Home Lending platform. The additional APIs and SDKs should allow more integrations with other technology services and applications. The San Francisco-based bank disclosed the plan in a job posting today. Among the services that will be included in these open-fintech offerings are […].
PYMNTS
JANUARY 21, 2019
A new report has revealed that Fortnite’s in-game currency is being used to launder money from stolen credit cards. According to a report by The Independent and cybersecurity firm Sixgill , a hacker will access someone else’s credit card information, and then use it to create a Fortnite account and buy V-bucks, which is the game’s currency. Once the account fills up with V-bucks, it is then sold through a legitimate vendor like eBay, or on the dark web, for lower rates that the $10 for 1,000 gam
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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
JANUARY 21, 2019
I’ve got lots more to write about digital transformation and the things I’m learning from banks engaged in doing it but, to give you a break, I also have a couple of fantastic guest submissions which are worth sharing. Today’s share is from Simon Taylor, he of the blockchain fame … The post Will blockchain replace core banking?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 22, 2019
Bank of America’s virtual assistant Erica might be able to alert users of double charges in the future, Bank Innovation has learned. In the meantime, Erica still has a long way to go before it could perform such complex tasks. For instance, ask Erica, “What’s my spending this month?” and you’ll get an answer, but […].
PYMNTS
JANUARY 22, 2019
Mastercard was slapped with a $648.3 million fine by the European Union, which alleged that the payments company raised the costs of card payments artificially. According to a report in Reuters , citing the European Commission, the bloc’s antitrust regulator, the move is part of an effort on the part of European regulators to stamp out fees that U.S. credit card companies charge.
Chris Skinner
JANUARY 22, 2019
In another guest post related to industry versus digital banking Marko Wenthin, co-founder of solarisBank, sent this insight into my discussion of FinTech banks last week. Organisational behaviour – synchronised swimming versus football teams I read the post of my friend Chris today about how a FinTech bank embraces IT rather … The post Synchronised swimming or football teams?
Payments Dive
JANUARY 24, 2019
The blockbuster merger of Fiserv and First Data could set of a series of industry consolidation, according to industry analysts.
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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
Gonzobanker
JANUARY 25, 2019
Fiserv acquiring First Data Corporation is a huge deal in the fintech world. This deal impacts not just the payments space but the whole financial services ecosystem, and the implications will take a while to unpack. In the meantime, and with an expected closing later in the year, our initial reactions: Follow the money. Twenty-two billion dollars is a monster-size deal, but at 2X First Data’s annual revenue, the price is a way lower revenue multiple than the growth-oriented digital mashups lini
PYMNTS
JANUARY 24, 2019
Before consumers started to trade brick-and-mortar shopping experiences for eCommerce websites, retailers could bring customers through their doors with window displays. Now, with this shift, retailers are creating engaging experiences that digitally-connected consumers can tap into online with the help of virtual reality (VR) and augmented reality (AR) technologies.
Chris Skinner
JANUARY 24, 2019
A further aspect of the digital banks I am talking with is that they have reviews all the time. Not formal reviews, but fast meetings with the business people, designers, developers and even audit and compliance all around the table. It is quick, frequent and informal unlike the old industrial … The post Digital banks have fast and regular communication appeared first on Chris Skinner's blog.
Payments Source
JANUARY 23, 2019
Americans aged 50 and older represent a sizeable portion of the U.S. population – 115 million individuals in 2018. While these consumers may not be the first to use mobile P2P apps, they do represent a sizeable payment opportunity because of their economic purchasing power.
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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.
Ron Shevelin
JANUARY 20, 2019
Consumers are more interested in a fee-based checking account (bundled with other services) from Amazon than a free checking account from the company.
PYMNTS
JANUARY 25, 2019
With PSD2 in full swing in the European Union (EU), any merchant dealing with the payment data of EU citizens must upgrade their payment protocols to stay compliant. That said, the fact that PSD2 is effectively changing how merchants transact doesn’t mean the merchants in question understand what those changes mean. In the January PSD2 Tracker , PYMNTS examines how money movement and data flow are getting an upgrade with PSD2, as well as how the upcoming SCA regulation is bound to affect user au
Chris Skinner
JANUARY 23, 2019
One of the biggest issues all companies face with transformation – digital or otherwise – is bringing the people with you. Some would say that anyone who does not join the journey can leave, but that’s quite a tough stance. If you don’t get with the program, you’re out, is … The post Don’t just bring one, bring all appeared first on Chris Skinner's blog.
Payments Source
JANUARY 25, 2019
The problem with bug bounties is that while it can complement vulnerability management programs, it does not offer the comprehensive coverage an enterprise requires, contends Mark Weiner, CMO of Balbix.
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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.
Bobsguide
JANUARY 22, 2019
Over the past year of its implementation Open Banking remains a key concern of banks given the regulatory environment, the changing consumer patterns and the new fintech firms. It is becoming a need for banks to embrace digital transformation in this area to achieve more profitable operations.
PYMNTS
JANUARY 22, 2019
Last year brought the General Data Protection Regulation (GDPR) deadline, Europe’s attempt to boost online privacy and security for consumers — a law that just resulted in a $57 million fine against Google , which was accused of not doing enough to gain the consent of users when collecting data meant for targeted advertising. This year brings the Second Payment Services Directive ( PSD2 ) deadline, also in Europe, with its designs meant to encourage more security and innovation in the payments
Chris Skinner
JANUARY 23, 2019
Things we’re reading today include … Amazon knocked off top of UK consumer poll once ethics considered The money markets do recognise integrity … eventually | Robert Shiller Trial of four former Barclays executives begins Santander to close 140 branches, putting more than 1,200 jobs at risk No-deal Brexit ‘poses … The post Things worth reading: 24th January 2019 appeared first on Chris Skinner's blog.
Payments Source
JANUARY 23, 2019
EU states such as Belgium, Lithuania and Ireland are offering e-money institution, payments institution or banking licenses to fintechs, which can be passported across Europe, in anticipation of the U.K. losing its ability to do so after Brexit. But there is no cross-border deposit protection for European consumers holding accounts at EU banks with passported licenses.
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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.
Bobsguide
JANUARY 24, 2019
As the world becomes increasingly digital, start-ups specializing in blockchain and fintech are transforming businesses across the board. Yet with constantly changing regulation and the need to compete with digital disruption, 2019 will be the year when regtech rises to the top of the agenda.
PYMNTS
JANUARY 22, 2019
At the World Economic Forum in Davos, Switzerland, executives of PayPal and Mastercard touted partnerships between financial technology companies and banks as a positive way to gain customers’ trust and innovate new ways for customers to interact with their finances. On Tuesday (Jan. 22), the executives talked about how financial companies had nothing to fear from these types of partnerships, and PayPal Chief Operating Officer Bill Ready said the idea that banking institutions have something to
Chris Skinner
JANUARY 19, 2019
The main blog headlines are … The new FinTech bank For years, I’ve been wondering why people in business operations couldn’t align their needs with the people delivering technology in the organisation. The CIO would sit outside the business, watching and responding to requests. The requests would get prioritisation and … The post The Finanser’s Week: 13th January – 20th January 2019 appeared first on Chris Skinner's blog.
Payments Source
JANUARY 22, 2019
The question for lawmakers is how to work together to make sure as many people as possible are able to take advantage of the opportunities provided by innovation, writes Brian Tate, president and CEO of the Innovative Payments Association.
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