Chris Skinner
APRIL 30, 2019
One of the surprises I have had in my discussions with banks that are doing digital well, is how all of them seem profoundly committed to cloud-computing. Some more than others, as one of the banks I spoke to wants to achieve over 80% of their IT infrastructure, software and … The post Banking in the Cloud appeared first on Chris Skinner's blog.
Payments Dive
APRIL 30, 2019
Retailers need to consider shedding their legacy POS systems to enable mobile payment acceptance, business analytics, EMV security and better inventory management.
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Bank Innovation
MAY 3, 2019
You may not have heard of the term “Silicon Alley,” but I am sure you are aware of the game-changing financial technology that is emanating from it. “Silicon Alley” was initially coined in the mid-1990s as a way to group media startups housed around the Flatiron neighborhood of Manhattan. I hope that doesn’t give you […].
PYMNTS
MAY 3, 2019
Payments don’t always have to be just about the cards. That’s the big message being sent throughout the payments world as PSD2 and other FinTech efforts spark innovation and give consumers, companies and other organizations more methods to pay — methods that better match the preferences of those participants, payments that feature more speed and less friction than was often the case before.
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.
Chris Skinner
APRIL 28, 2019
As I travel non-stop, I have one trusty little zip-bag in my travel case. It’s a zip-bag full of cables and converters, mainly to keep my phone fully charged all the time. Plug converters for America, Europe, UK and Australia, and cable converters between Apple and non-Apple products. As I … The post 200 currencies and 30,000 banks … are they really needed?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
MAY 1, 2019
Mastercard today introduced a suite of digital offerings for small business owners who are Mastercard Business and World Elite cardholders. The new offerings include discounts to Intuit products like QuickBooks and TurboTax, a 24/7 personalized business assistant, ID theft protection, as well as automatic savings on business expenses. Amnah Ajmal, EVP of Core Products for […].
PYMNTS
MAY 2, 2019
B2B payments are mired in delays, in errors, in an imbalance in funds flow and credit terms. Simply put, buyers stretch out payments and suppliers play the waiting game – at least as well as it can be played with checks and cards. The result is a cash flow crunch. Access to financing (trade finance, that is), especially online, can level the playing field a bit.
Chris Skinner
MAY 2, 2019
There were two headlines recently that arrived side-by-side: Will telephone bank passwords become obsolete? Does my new biometric bank card really mean the death of the Pin? Neither headline is particularly news – voice recognition for telephone banking and biometric bank cards have been floating around for a decade (or … The post Smile to pay … and cry for credit appeared first on Chris Skinner's blog.
Payments Dive
MAY 3, 2019
Southeast Asian countries face unique challenges in terms of growing a payments ecosystem amid Chinese dominance of the e-commerce space.
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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
Bank Innovation
APRIL 30, 2019
The paramount technology objective today in banking is the implementation of artificial intelligence to enhance customer experience, products and, in turn, financial results, for both consumers and financial institutions. As artificial intelligence and its compatriot technology, machine-learning algorithms, take a more prominent role in financial services, the ethical challenges posed by these technologies advance.
PYMNTS
MAY 1, 2019
Accounts payable operations are essential to ensuring that payments to a firm’s partners and suppliers are processed and delivered on time. These processes prevent companies from missing payments and running the risk of souring business relationships and hurting their partners’ bottom lines in the process. However, despite their importance to keeping businesses afloat, old school practices like physical paperwork are still the norm for many AP departments.
Chris Skinner
APRIL 30, 2019
I just chaired a nice session at the Innovate Finance Global Summit (IFGS) focused upon the future of UK FinTech. For some reason, the question they asked us to focus upon was: What is holding the UK back in the global investment landscape? I didn’t really understand why we would … The post How will UK FinTech fare in the future? appeared first on Chris Skinner's blog.
Bobsguide
MAY 2, 2019
Regulators and standards bodies are at risk of standardizing obsolete technology by creating rules for blockchain networks that are already years old, according to Joe Pindar, blockchain and cryptography director at Thales. “There have been three generations of blockchain, starting with the.
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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
Bank Innovation
APRIL 30, 2019
The paramount technology objective today in banking is the implementation of artificial intelligence to enhance customer experience, products and, in turn, financial results, for both consumers and financial institutions. As artificial intelligence and its compatriot technology, machine-learning algorithms, take a more prominent role in financial services, the ethical challenges posed by these technologies advance.
PYMNTS
MAY 2, 2019
The digital revolution comes to the land where the industrial revolution was born? To that end, Invest In Blockchain reported that Mark Carney, governor of the Bank of England, said that the central bank should gear up for a “fourth industrial revolution” that includes at least some impact to payments, chiefly through blockchain and decentralized systems.
Chris Skinner
MAY 1, 2019
Talking of cloud computing, I’ve spent years backing up my various PCs and photo libraries. Invariably, a labour of love, I didn’t trust public cloud services like Google and Microsoft to look after my stuff properly. Then, gradually, over time, more and more of my stuff has moved online. It … The post Cloud sense … dollars and cents appeared first on Chris Skinner's blog.
Insights on Business
MAY 1, 2019
In the financial services industry in the United States, one thing remains constant – change. Whether policy makers are encouraging deregulation, or increasing regulatory requirements, regulatory change has been a constant. As recently as two weeks ago, the U.S. Federal Reserve Board announced proposed tailoring of prudential standards for FBOs, following on similar tailoring for U.S. banks.
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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.
Bank Innovation
APRIL 29, 2019
BNY Mellon's three key financial technology executives added last month were given the directive to pursue investments and fintech partnerships in natural language processing, rule-based automation systems and robotic process automation (RPA), Bank Innovation has learned. The initiatives had previously not been disclosed. Earlier this month, BNY Mellon filled three executive positions: Digital Business Development […].
PYMNTS
MAY 3, 2019
Migrants make up a substantial portion of the economy in India. By some recent accounts , more than 100 million migrants are participating in the nation’s workforce — one-fifth of the nation’s workforce. Many of these workers travel from rural, low-income regions, hoping that work opportunities in urban areas will enable them to support their families.
Chris Skinner
MAY 2, 2019
Things we’re reading today include … Bank of England warns of interest rate rise over next three years Andy Hornby: how the former HBOS boss bounced back MPs demand Lloyds justifies ‘cash paid to CEO in lieu of pension’ Elon Musk owes $507 million to banks helping Tesla raise capital … The post Things worth reading: May 3rd 2019 appeared first on Chris Skinner's blog.
Payments Source
MAY 2, 2019
The growing sophistication of artificial intelligence is making fraud detection faster and more accurate, which opens up new possibilities for new products and services because of consumer confidence in secure payments, writes Margaret Reid, senior vice president of North America Risk for Visa.
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.
Bank Innovation
MAY 1, 2019
Canada is making a big leap in modernizing identity verification, tapping blockchain technology to let consumers digitally prove who they are to securely access banking and other personal services. SecureKey Technologies Inc.’s Verified.Me digital identity system is now available for customers of five Canadian banks through a mobile app, the Toronto-based firm said Wednesday in […].
PYMNTS
APRIL 29, 2019
Along with digital transformation, innovation has been a buzzword for some time. These may seem like abstract concepts, but innovation has had concrete results in the financial industry. For example, in the newly released J.D. Power 2019 U.S. Retail Banking Satisfaction Study , retail banking was declared to have bounced back reputation-wise over the past decade, due to improvements in customer service spurred by innovations like mobile banking.
Chris Skinner
APRIL 27, 2019
The main blog headlines are … Doing good for society and the planet (an Earth Day FinTech update) It was Earth Day on Monday, and a national holiday in many nations as they observed what Christians call Easter. Whilst Sri Lankans mourned the fatal losses on the Easter Sunday church gatherings, … The post The Finanser’s Week: 22nd April – 28th April 2019 appeared first on Chris Skinner's blog.
Bobsguide
APRIL 29, 2019
Commercial and business banking clients often have a harder time opening a bank account than the average retail client, mainly due to the complex, siloed legacy technology that makes up most banks’ back, middle and front office operations. Banks share the frustration of difficult and lengthy.
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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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