Bank Innovation
AUGUST 10, 2016
The mobile payments app Spare wants to kill the ATM. More specifically, Spare wants to give customers access to cash from merchants for less than the cost of an ATM fee, and more security. To use Spare, customers open their Spare app and locate a nearby merchant with cash on Read More.
Chris Skinner
AUGUST 11, 2016
On Tuesday the Competition and Markets Authority (CMA), a UK Government Agency, told British banks that they must digitalise or suffer penalties. In a report entitled Making banks work harder for you, they have ordered the UK banks to digitalise within two years or face regulatory fines. The key headlines include, under what the CMA … The post UK banks ordered to digitalise or else appeared first on Chris Skinner's blog.
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PYMNTS
AUGUST 12, 2016
In this week’s edition of PYMNTS’ Weekly Tech Center Roundup , we check out a small country with a huge potential to emerge as one of Europe’s premier FinTech spaces. Before we jump into the post, here are a few quick facts about the Netherlands and its tech scene: . The Netherlands is estimated to have a population of 17 million. The country’s GDP was approximately $880 billion in 2014.
Payments Dive
AUGUST 11, 2016
We'll keep talking about the problems that plague proximity mobile payments until everyone gets it right.
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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
AUGUST 9, 2016
It’s been just about a week since the bitcoin exchange Bitfinex was hacked, with a loss of 119, 756 BTC, or about $80 million in boring old, traditional currency. The hack remains a hot-button topic in the bitcoin world, with many calling for the need of increased oversight of bitcoin exchanges. Read More.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Celent Banking
AUGUST 8, 2016
At Celent we’ve long said that banks must become better at partnering. And Fintechs have come around to the realization that it’s going to be the rare beast that can compete head-on with incumbent financial institutions – most will fare better by figuring a way to cooperate with them instead. Eastern Bank, Celent’s 2016 Model Bank of the Year, took this idea one step farther by building Eastern Labs within the bank – an in-house Fintech.
Payments Dive
AUGUST 8, 2016
It's time for a look back at July's most-read articles on Mobile Payments Today.
Bank Innovation
AUGUST 10, 2016
It’s not just millennial customers banks are adjusting to today — it’s millennial employees. With the emergence of new technologies, channels, and strategies, banking customers — not to mention working professionals in the financial world — have come to expect faster, smoother solutions and services from their financial institutions.
Chris Skinner
AUGUST 12, 2016
Someone recently equated banks and their systems and structures, to the underground in London. It’s a lot of pipes, wires, cables and tunnels that were built in the Victorian times and are still operating today. You have engineers on the tracks every night and day, trying to keep the systems running, whilst also trying to … The post Renewing core systems is like renovating the subways appeared first on Chris Skinner's blog.
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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
PYMNTS
AUGUST 11, 2016
The term “ Internet of Things ” has become a big buzzword in business lately, but what exactly is it and why might it shape the future of the retail industry? Simply put, think of the Internet of Things as an “interconnected ecosystem of internet-enabled objects,” according to eMarketer. So, things like your mobile device and tablet are part of the Internet of Things.
Celent Banking
AUGUST 9, 2016
Corporate banking has long been a relationship-based business, with large global banks having the distinct advantage of being able to provide clients with a comprehensive set of financial services delivered through integrated solutions. Distributed ledger technology, often referred to as blockchain, threatens to disrupt the sector with its potential to improve visibility, lessen friction, automate reconciliation, and shorten cycle times.
Bank Innovation
AUGUST 12, 2016
Photo by Denis Dervisevic In a two part series, we delve into the reputation economy and its impacts on small business finance and banking. In today’s first post we explore the basic concepts and thinking behind the reputation economy and its growing relevance in B2B and B2C transactions. If you’ve ever been Read More.
Chris Skinner
AUGUST 9, 2016
I got into an interesting debate with two good friends in Asia over the weekend. I was sitting at home in the UK of course, but these days we are all connected globally in real-time so if you post something on Facebook or Twitter, you can soon find yourself in a global discussion. This one … The post Ant Financial core banking service in the cloud appeared first on Chris Skinner's blog.
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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.
PYMNTS
AUGUST 10, 2016
Banks across the globe have invested resources into exploring blockchain technology, and that includes in Canada. But this year, the nation thrust itself into the center of the movement that looks to turn blockchain theory into reality when, in July, Canadian bank ATB Financial successfully sent money to a German bank via blockchain technology — in just 20 seconds.
Gonzobanker
AUGUST 8, 2016
I recently attended a bank’s first conversion data validation event and was so impressed by it that I kept asking myself, “What if I could bottle this somehow?” So like any project manager worth her salt, I’m doing just that. So, here’s my four conversion must-do’s bottled for your sipping pleasure. 1. Go Team : The conversion team should be structured properly and early.
Bank Innovation
AUGUST 11, 2016
MasterCard launched a new site with card payment service Plastiq yesterday to help Chinese students in the U.S. pay their tuition, even if their schools do not accept credit cards for payments. “For the first time, [Chinese] students will be able to pay in their local currency,” said Plastiq co-founder and Head Read More.
Chris Skinner
AUGUST 9, 2016
Things we’re reading today include … Married boss of bailed-out bank enjoys business trip with secret mistress Deutsche Bank Fined $12.5 Million for ‘Squawk Box’ Failures Ten of the most expensive animals in the world Barclays pays a further $100m in the US over Libor fraud Watchdog targets banking ‘revolution’ Lloyds faces legal fight over … The post Things worth reading: 9th August 2016 appeared first on Chris Skinner's blog.
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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.
PYMNTS
AUGUST 12, 2016
First, it was Oracle Corp. and its MICROS customers that were getting hacked, and now, it appears more cash register vendors are falling victim to hacks that were allegedly conducted by the same Russian organized cybercrime group. That’s according to Forbes , which said it was informed by five cash register providers of the breach. According to the report, in the last month, Cin7, ECRS, Navy Zebra, PAR Technology and Uniwell were all hacked.
Payments Source
AUGUST 9, 2016
Card manufacturer Oberthur Technologies is offering issuers facing a shortage of EMV chip cards an option to receive as many as 25,000 in five days, rather than waiting the standard three to four weeks.
Bank Innovation
AUGUST 11, 2016
In a few weeks time, about 8,000 bankers and their vendors fly into Geneva for SIBOS (the annual “gathering of the tribes” that is organized by SWIFT each year in a different city around the world). The bankers who fly in want to understand technology. The Traditional Fintech vendors want Read More.
Chris Skinner
AUGUST 8, 2016
Friend of the Financial Services Club and journalist with Financial News Anna Irrera has recently started producing a weekly roundup of FinTech news. She’s kindly agreed to let me republish this summary here on The Finanser, so here goes: On fintech and pensions… BBVA’s Outside Venture Fund Backs Retirement Startup (American Banker) Propel Venture Partners, the venture … The post The FinTech Weekly Roundup by Anna Irrera (4) appeared first on Chris Skinner's blog.
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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.
PYMNTS
AUGUST 12, 2016
The coming ascendence of augmented reality and virtual reality have long been article fodder for tech enthusiasts, gamers and retail watchers alike. And for good reason – the story of virtual and augmented reality makes for some great copy. Oculus Rift rose from being a plucky crowdfunded upstart to a $2 billion dollar acquisition by Facebook – a deal that Marc Zuckerberg touted at the time as a first step toward using AR/VR tech to connect the entire world in wholly different ways.
Bobsguide
AUGUST 11, 2016
According to PwC, 56% of financial firms recognise the importance of blockchain, but 57% do not know how to respond to the blockchain boom. A new report by Long Finance and Z/Yen Group highlights how mutual distributed ledger technology could transform the global insurance industry, but companies.
Bank Innovation
AUGUST 8, 2016
What do you call the generation that comes after millennials? For now they’re just kids, but soon they’ll be a powerful force in the world of commerce. (Today’s parents may tell you they already are.) Disney is reaching out to this group with a new messaging app called Mix that Read More.
Chris Skinner
AUGUST 7, 2016
Here are our key posts for the past week … Looking for a live Unicorn I was chatting about Unicorns yesterday. I won’t say which one we talked about, but one specific firm was being picked on as unsustainable and incorrectly valued. I was particularly surprised to hear that their cost of customer acquisition is … The post The Finanser’s Week: 1st August – 7th August 2016 appeared first on Chris Skinner's blog.
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