Chris Skinner
APRIL 3, 2018
I’m launching the new book Digital Human in New York on the evening of April 12. If you would like to get a signed copy of the book, just register here. BTW, I’ve also heard a lot of people have been frustrated that Amazon cancelled their pre-orders of the new … The post Digital banks are 35+ times more productive than traditional banks appeared first on Chris Skinner's blog.
Payments Dive
APRIL 5, 2018
One of the best-attended educational sessions at the recent National Automatic Merchandising Association show in Las Vegas focused on how payment technology innovations — namely mobile payments — are impacting customer expectations.
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Bank Innovation
APRIL 3, 2018
BitPay, a blockchain payments company, closed a Series B of $40 million yesterday, the company announced. The money, as previously mentioned by the startup, will go towards expanding its international operations. The first stop for this expansion will be Asia. BitPay named either Hong Kong or Singapore as its next potential market, as reported by […].
PYMNTS
APRIL 4, 2018
Retail continues to migrate toward eCommerce, but warehouse space is not designed to keep up with the increasing pace of online orders. The average age of a warehouse in the U.S. is more than 30 years old, and many lack modern features, CNBC reported. CBRE has found that most warehouses constructed prior to 2005 had low ceilings, tight space and uneven flooring — issues that are not easy to fix through a renovation.
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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
APRIL 4, 2018
I was super impressed by an article written by FinTech friend Bradley Leimer for International Banker the other day, and asked if I could share on the blog. Bradley kindly said yes, so here you are. Enjoy the read! The Invisible Hand of Financial Services by Bradley Leimer, Managing Director and Head … The post To understand banking’s future, it is important to think about its past 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.
Bank Innovation
APRIL 3, 2018
Open Banking is a buzzword — among bankers, anyway. Most customers have never heard of it, though they do want access to their bank account in other products, like the iTunes Store, Amazon, or Mint.com. Ron Shevlin noted on Twitter: I bet if I surveyed consumers and asked “Do you want “#OpenBanking?” a decent % […].
PYMNTS
APRIL 6, 2018
The blockchain is making inroads into healthcare. Earlier this week, five healthcare firms operating across the U.S. insurance landscape said they’re launching a pilot program that will help boost the management of healthcare provider data. The five organizations include insurers Humana , UnitedHealthcare , Quest Diagnostics , Optum and MultiPlan. (Optum and UnitedHealthcare are part of UnitedHealth Group).
Chris Skinner
APRIL 6, 2018
I was having a chat about Artificial Intelligence (AI) in banking the other day. It was an interesting conversation, although most of the examples were for customer service via Chatbots, which doesn’t impress me much. I know that systems like Erica, short for Bank of AmErica, are up and running … The post Some banks are technology companies appeared first on Chris Skinner's blog.
Payments Dive
APRIL 6, 2018
It's no secret that the financial services industry is a top target for cybercriminals looking to steal valuable data. This growing risk comes at a time when financial services firms are turning their focus to innovating new technologies and features to meet evolving consumer demands.
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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 6, 2018
EXCLUSIVE— Banks need to focus on fixing all of the little problems humans encounter in daily life, rather trying to sell more mortgages and credit cards to their users, Tom Blomfield, CEO of UK neobank Monzo, said today in an online Q&A. Banks need to focus on “real, human problems,” Blomfield wrote, in response to […].
PYMNTS
APRIL 6, 2018
To give cryptocurrency startups and their founders a boost, Coinbase has started a new incubator fund called Coinbase Ventures. While the popular cryptocurrency exchange expects the fund’s profits to be small compared to those of its overall business, the fund already has $15 million and is expected to grow, CNBC reported. “We’re going to invest off our balance sheet into crypto-companies,” Coinbase President and Chief Operating Officer Asiff Hirji told CNBC.
Chris Skinner
APRIL 4, 2018
There’s a lot of discussion about FinTech and what it means to banks. Originally, everyone was talking about disruption, disintermediation and dissing banks. Then the discussion went to incumbents versus start-ups. Then it ended up last year about partnering and co-creation. I personally believe most of the discussion is off-beam … The post What FinTech means to banks appeared first on Chris Skinner's blog.
Payments Dive
APRIL 6, 2018
Discover how machine learning is helping retailers analyze and improve business results with Synchrony insights.
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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.
Bank Innovation
APRIL 5, 2018
The Reserve Bank of India (RBI) strikes cryptocurrency again. This time India’s central bank issued a statement today banning all entities that fall under its regulation, from dealing with any cryptocurrencies. Since RBI is India’s central bank that means all the country’s banks and FIs fall under RBI’s authority. Today’s statement read: Technological innovations, including […].
PYMNTS
APRIL 3, 2018
Small business (SMB) banking is in need of an overhaul. Between the threat of FinTechs and small business owners’ increasing willingness to switch banking providers, financial institutions are waking up to the demand for better SMB services. But an increased focus on innovation means the path to understanding what actually constitutes “better” is unclear.
Chris Skinner
APRIL 1, 2018
The main blog headlines are … What is the real difference between a challenger bank and an incumbent? I was reading about banks being average to poor at marketing, and wondered about it. Banks’ advertising generally is about either being cool or in love with you. Here are a few … The post The Finanser’s Week: 26th March 2017 – 1st April 2018 appeared first on Chris Skinner's blog.
Bobsguide
APRIL 5, 2018
While banking and financial institutions in many corners of the globe have embraced the benefits technology has brought to the sector in recent years, Sharia-compliant fintech solutions are quickly catching up. That’s according to a report published last year by research firm Wamda Research.
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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 3, 2018
Retail giant Walmart announced today the launch of a global money transfer service called Walmart2World. The Walmart2World service is extension of its U.S.-based money transfer service, it launched in 2014, where customers could transfer money at lower fees. This global service will be rolled out to 200 countries and was created in partnership with MoneyGram […].
PYMNTS
APRIL 6, 2018
Much has been written about buying bitcoin in specific, and cryptocurrency in general. Whether it’s investing or gambling, whether it’s a good idea or immoral – no ink has been spared in uncovering every angle on cryptocurrency and what its purchase and sale will mean for the future of money. With one, curious exception, as Ben, Inc. co-founder and CEO Miguel Kudry noted in an interview with PYMNTS.
Chris Skinner
APRIL 3, 2018
Things we’re reading today include … Jeweler to the Stars Flees as India Seethes Over Bank Fraud A Top JPMorgan Blockchain Executive Is Leaving the Bank Canada’s TD Bank Wants US Patent for Blockchain Point-of-Sale System Commonwealth Bank online glitch wipes ‘credit card balances’ Bank of America says Facebook is … The post Things worth reading: 4th April 2018 appeared first on Chris Skinner's blog.
Bobsguide
APRIL 5, 2018
Distributed Ledger Technology and the General Data Protection Regulation can be like in-laws. The former, complex, the latter for many, downright scary. But together they can become the perfect parents, the foundation for next-generation data management and financial services. The need 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.
Bank Innovation
APRIL 2, 2018
Boston-based startup Nift has raised $16.5 million in a Series A to fund its platform for “business gift cards,” a way for local businesses to drive customer engagement by providing gift cards to their consumers. The company, which announced its funding round last week, allows its business clients to provide their customers with a “special” […].
PYMNTS
APRIL 2, 2018
Consumers demand easy, digital banking, but this pressure for banks to deliver is also coming from corporate clients. Take mobile banking, which has propelled the introduction of mobile-only banks to meet demand for better services on smaller screens. It’s not only for consumers, though: Alternative lending firm Kabbage recently found that mobile lending is on the rise among small businesses, with a more than 360 percent increase in the number of SMB loans accessed via mobile device betwee
Chris Skinner
APRIL 2, 2018
Things we’re reading today include … Five Key Players at the Heart of Deutsche Bank’s Drama Japan’s Central Bank Wants You to Be Wary of Cryptocurrencies Bank wins ruling against ‘cybersquatter’ who demanded £100,000 for domain name Indian banks reported at least one fraud every hour in 2017 UBS nominates … The post Things worth reading: 3rd April 2018 appeared first on Chris Skinner's blog.
Insights on Business
APRIL 6, 2018
Finding reliable and trustworthy business intelligence can be a challenge. Business leaders are often tasked with making critical technology decisions that can affect an entire organization. Informed, data-driven choices based on real-world experiences and facts gleaned from peers are central to gathering the market intelligence to act with speed and confidence.
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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.
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