Chris Skinner
AUGUST 19, 2018
The World Economic Forum has been conducting research over the last year around how AI (Artificial Intelligence) will change banking that was published last week. Here’s the lowdown: Artificial intelligence is fundamentally changing the physics of financial services. It is weakening the bonds that have held together the component parts … The post How AI will change banking appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 24, 2018
Standard Chartered, headquartered in London, is expanding its global digital footprint from Hong Kong to the west coast of Africa. The bank, which has $663.5 billion in assets and operates mainly in Asia, Africa, and the Middle East, announced in June that it would begin work on developing a disruptive new business model for the Hong […].
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Payments Dive
AUGUST 23, 2018
Executives from Caesars Entertainment, Guess?, McDonald's and Skogen's Festival Foods discussed mobile messaging at the recent CONNECT: The Mobile CX Summit in Chicago.
PYMNTS
AUGUST 23, 2018
Compliance of General Data Protection Regulation (GDPR) rules remain low across the globe, according to the latest research from Dimensional Research. Reports from the Business Information Industry Association (BIIA) on Tuesday (Aug. 21) said Dimensional Research’s latest findings suggest most companies are still not fully GDPR-compliant, with only 20 percent reporting they are fully adhering to the new data security rules.
Advertisement
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 21, 2018
I’ve been thinking for a while now about building a new financial system from the ground up using AI, blockchain, the Internet of Everything and other technologies. What would it look like? What would we build? I guess the piece that inspired a lot of my thinking came from two … The post The future financial world is here appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
AUGUST 21, 2018
FSS UPI is 2.0 ready. Banks/PSPs can take advantage of UPI 2.0 to launch a range of revenue-generating overlay services and create market differentiation.
PYMNTS
AUGUST 18, 2018
“Oooh, your kisses, sweeter than honey/ But guess what? So’s my money.”. Writing about Aretha in a 2016 profile for The New Yorker , writer David Remnick noted that as she sat readying herself for a performance, she was surrounded by small stacks of hundred-dollar bills. The money, he explained, was her fee for singing that night in Ontario, because Aretha only sang once she had been paid upfront.
Chris Skinner
AUGUST 23, 2018
Venezuela is the latest country to spin into hyperinflation, showing the same signs as the meltdown in Zimbabwe that created the 100 trillion dollar note. Hyperinflation, as defined by economist Philip Cagan in the 1950s, is when a country sees inflation rates rise by more than 50% per month. Wow! … The post When national currencies fail (cryptocurrencies rise) appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 23, 2018
Consumers want banks to do more than just hold their money, they want their banks to help them meet their financial goals. In fact, a new consumer report by CSI shows that 83% of American consumers agree with that statement. That number jumped to 87% for consumers with an annual household income of $100,000 or […].
Advertisement
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
Payments Dive
AUGUST 21, 2018
Financial systems outages stop customers from accessing and spending money as they normally would. The growing incidence of outages — particularly in the U.K. and Europe — suggests that the payments industry is, at best, fragile and that things need to change. People are getting fed up.
PYMNTS
AUGUST 24, 2018
U.S.-based Axiom Bank is expanding its business lending capabilities through the acquisition of Allied Affiliated Funding , reports said Thursday (Aug. 23). A press release announced the takeover agreement, which will see Axiom absorbing Allied’s asset-based lending and factoring offerings. The acquisition will also bridge Allied’s existing customers to the banking and cash management offerings of Axiom, the companies said.
Chris Skinner
AUGUST 22, 2018
It shows the nature of money and finance in our lives, in the way that the media reports about it. Quite often you get a scary headline like the big banks are watching you or banks will sell your data and it makes us mad. Replace bank with internet giants, … The post The secret to success with customer data appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 22, 2018
Today Finastra announced a partnership with Wis.-based Unity Bank for a digital loan solution. Unity Bank, with $450 million in assets, has begun to leverage loan technology to streamline its commercial lending and consumer lending processes. Bank Innovation spoke with Unity Bank senior vice president and commercial lending manager Darrin Wilson on what “streamlining” will mean […].
Advertisement
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.
Payments Source
AUGUST 23, 2018
After the 2008 banking crisis, centralized payment systems and financial services don’t have as much appeal to the younger set as a more transparent decentralized system, argues Csaba Csabai, founder and CEO of Inlock.
PYMNTS
AUGUST 21, 2018
A new report has found that 1.5 organizations fall victim to ransomware attacks every minute — and more than $1 million is lost each minute due to cybercrime. RiskIQ ’s 2018 “ The Evil Internet Minute ” investigated the cyber threats that organizations and internet users face every minute. “With businesses expanding their online presence to create more touchpoints with customers, employees and partners, the boundaries between what’s inside the firewall and what’s outside become less and le
Chris Skinner
AUGUST 19, 2018
The main blog headlines this week are … Do we need a blockchain? I haven’t written about blockchain for a while. I guess it’s because I got bored of it. I’m not bored of the promise of blockchain and distributed ledger technologies. Just bored of how much hype there has … The post The Finanser’s Week: 13th August 2018 – 19th August 2018 appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 24, 2018
As gig workers and small businesses continue to grab a larger market share of the economy, more banks and FIs might want to consider card-based push payments as a way to grow their debit business. This suggestion comes courtesy of Mastercard. “And by growing their debit business, realtime push-payments can help banks generate more revenues,” […].
Advertisement
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.
Payments Source
AUGUST 22, 2018
The best thing a banker can do today is regard the U.K. as a real-world fintech laboratory, track developments closely and seek opportunities to capitalize on change, writes Naomi Bowman, managing director for Berkeley Research Group in London.
PYMNTS
AUGUST 24, 2018
Consumers are using less cash than ever, with the average consumer carrying just $21. In response, unattended retail operators are finding new ways to embrace alternative payment methods, ranging from mobile wallets to cryptocurrencies. In the new Unattended Retail Tracker , PYMNTS charts the latest ways that companies are working to accept more non-cash payment methods, from the common credit card swipe to biometric scans.
Chris Skinner
AUGUST 22, 2018
Things we’re reading today include … Ryanair apologises after compensation cheques bounce Credit Suisse freezes $5 billion of Russian money due to U.S. sanctions Time may be up for the penny coin, says Bank of England The Lehman Brothers party is a red herring – it’s the system that stinks … The post Things worth reading: 23rd August 2018 appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 22, 2018
JPMorgan Chase announced that it was rolling over customers with a Chase Premier Platinum checking account to its better-known consumer brand, Chase Sapphire. Customers with the Chase Sapphire account will be able to keep their Premier Platinum account numbers and card numbers with the added benefit of free ATMs, free outgoing wire transfers as well […].
Advertisement
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
AUGUST 23, 2018
Recent data from the Office of National Statistics (ONS) revealed that the UK is currently in the midst of a productivity crisis, with the country’s output per worker 16.6 percent below the average for the rest of the G7 nations in 2016. While the financial services sector was one of only a.
PYMNTS
AUGUST 23, 2018
The European Union (EU) General Data Protection Regulation (GDPR) came into effect in May, but most businesses in the region still aren’t compliant with the rules. The data security requirements have wide-reaching implications for businesses across sectors, but as companies expand globally and business partners connect on digital channels, supply chains’ GDPR compliance is an increasing focus of security and compliance initiatives in the enterprise.
Chris Skinner
AUGUST 21, 2018
Things we’re reading today include … Bank of England’s chief economist warns A.I. could threaten ‘large’ amount of jobs Bank Branches Are Closing At A Record Pace. Here’s Why JPMorgan Chase Is Opening More Big banks are getting ready for an uncertain future JPMorgan undercuts discount brokerages on trades Greece … The post Things worth reading: 22nd August 2018 appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 22, 2018
As it makes its way to South Africa and continues to amass impressive partnerships with the likes of Alipay and PayPal, Samsung Pay might have completed three years in the mobile payments market, but its numbers still lag its main rival, Apple Pay. Samsung revealed yesterday that it had completed 1.3 billion transactions in three […].
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.
Expert insights. Personalized for you.
409 
Let's personalize your content