INDUSTRY INSIGHTS YOUR PEERS ARE READING
Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks. Key themes. MORE
Better.com, a New York-based mortgage lending startup, raised $160 million in a Series C funding round on Monday to develop new products, hire new employees and launch new partnerships. MORE
eCommerce is ever faster — and consumers want what they want — now. That means for the firms shipping all manner of goods across all manner of verticals need to track inventory and supply chains in real time. Technology is the key to speed. MORE
Main Street Bank, like thousands of other privately held or smaller financial institutions across the U.S., recently found out it will have extra time to implement the current expected credit loss (CECL) accounting standard. MORE
INCREASING LENDING PROFITABILITY Many industry analysts are increasingly gloomy on the banking industry, trimming expectations for net interest margin, interest income, and total profits. MORE
While third-party savings apps like Digit, Qapital and Tip Yourself aim to help customers save money automatically, Plinqit is pitching its savings app as a tool that partner banks can use to drive more business. MORE
I saw a write-up in The Financial Times the other day on how Silicon Valley is eating the banker’s lunch. The article was written by Tom Braithwaite. Tom Braithwaite is the companies editor, managing the FT’s business coverage. MORE
Guest bloggers Emily Boese and Rom Mascetti explore why ISVs have plenty to gain and little to lose by adding payment acceptance into their existing software and applications. Merchant acquirers and other payment service providers have long provided merchants the tools they need to process payments. MORE
Confirming a customer’s identity is an ongoing pain point for banks and financial institutions around the world. It’s an even bigger challenge for countries that have high underbanked populations like Sierra Leone. MORE
With Facebook's announcement of its cryptocurrency Libra, cryptocurrency has gotten a lot more attention recently, and not all of it is positive, especially from U.S. lawmakers. Many are seeing cryptocurrencies like Libra as a national security issue MORE
Things we’re reading today include … ECB Says the Next European Bank Hack Is Just a Matter of Time Bank of America Applies for Multi-Tiered Crypto Wallet Patent Is mobile banking app Monzo too good to be true? MORE
Branch closures are usually triggered by reduced business or consumer traffic, but the decision is never quite that simple. Here are three events that prompt the decision MORE
As it marks its centennial, North Dakota’s public bank does its work through private-sector partnerships. The post The Bank in the Background appeared first on ABA Banking Journal. MORE
Welcome to the latest episode of our weekly wrap video series, for the week ending August 23, 2019. In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news developments: How the U.S. MORE
Some early supporters of Facebook’s proposed cryptocurrency Libra , spooked by the intense regulatory scrutiny both national and worldwide, want to distance themselves from the project, according to a report by The Financial Times. MORE
Mastercard , already an ally of Facebook’s Libra , announced it’s in the midst of planning its own cryptocurrency team, the New York Post reported on Saturday (Aug. MORE
Legacy banks have their work cut out for them if they want to survive another century as key players in the digital banking world. MORE
Shopping for a bank secrecy act/anti-money laundering (BSA/AML) monitoring software can feel overwhelming. There are so many options, features, and benefits to each system that it can be tough to figure out where to start. We’ve spent the last 20 years working with industry experts regarding regulatory compliance and our customer base regarding program efficiencies to build BAM+ into the ultimate BSA/AML regulatory and compliance solution. MORE
Things we’re reading today include … U.S. SEC fines Deutsche Bank $16 million to settle foreign corruption charges Can the Fed’s chair shake off the wolves of Wall Street and White House? Jes Staley: the last man in European investment banking Wells Fargo pays $6.5 MORE
Ongoing training is at the very heart of a satisfactory Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program in financial institutions. MORE
Guest blogger Mark Quigley discusses what’s driving changes to payments in banking. I needed to write a cheque recently and found myself thinking “How do I do this again!?” Due to my near-total migration to internet and phone banking, what used to be second nature to many people 20 years ago was turning into a bit of a hassle for me: Why I am writing out the numbers in word form? Why do I need to practice my symmetric line drawing to avoid any possible fraud? Where do I even find my cheque book? MORE
As I walk around The City, I’m often finding new buildings, new developments and major erections rising around the Square Mile. On that latter note, I don’t mean Boris Johnston, but major new office blocks. MORE
Amazon is on track to invest upwards of $15 billion this year in new tools to help small and medium-sized businesses (SMBs) grow and succeed, according to a press release. . To aid SMBs, 150 new tools have been launched since the beginning of the year, the company announced on Thursday (Aug 22). MORE
Last month we wrote about an upcoming cut in interest rates. At the time, we wrote about what financial institutions—especially smaller institutions—should expect. A couple of days later the Federal Reserve announced the first target Fed Funds rate cut in a decade. MORE
The term The Internet of Things (IoT) was first used twenty years ago. Twenty years later, IoT is emerging rapidly. We have our cars and homes networked but, more than this, we have gadgets like Google Home, Siri and Alexa. MORE
Recently launched public transit trials in New York, Miami and elsewhere are showing huge potential for digital wallets and contactless cards in driving widespread adoption for mobile payments MORE
In Latin America, news comes this week that Santander Group is boosting its use of Ripple’s technology to aid payments across what CoinDesk reported is a “payment corridor” in Latin America. MORE
While student loans are a necessity for many American students, international students face the additional hurdle of a lack of credit access. Washington, D.C.-based based MPOWER is trying to solve this problem by offering international students loans based on future earnings potential. MORE
The growth of Amazon Go cashierless stores is causing a ripple effect among retailers. It’s what’s been inspiring big-box retailers — among them, Walmart, Sam’s Club, Giant Eagle and others — to develop cashierless payment systems of their own. MORE
The official launch of Apple Card has generated major buzz across the payments and banking industry, however a split has emerged about whether the technology company will truly break new ground on a digital payment product that grows the business with consumer friendly financial services MORE
Cash is the quicker choice. The average cash payment transaction at the point of sale takes only around 22 seconds, 7 seconds faster than the average card and PIN payment and a whole 16 seconds quicker than a typical card and signature transaction MORE
CRITICAL THINKING In Part I, we highlighted how having too much information about a decision often increases the confidence about the decision but usually doesn’t change the accuracy of the decision. MORE
Royal Bank of Canada is growing its digital product portfolio as mobile user adoption grows. MORE
JPMorgan has discontinued its Chase Pay app that allowed users to pay with their smartphones in stores, according to a report by Bloomberg. The app will stop working in the early part of next year, but users will still be able to use Chase Pay on websites and in the apps of participating retailers. MORE
I just picked up a Financial Times article talking about how Artificial Intelligence (AI) will change the way you deal with money. It’s actually more about the Chinese internet giant Ping An, and how they’re changing finance using AI. MORE
Chris Skinner
AUGUST 21, 2019
The term The Internet of Things (IoT) was first used twenty years ago. Twenty years later, IoT is emerging rapidly. We have our cars and homes networked but, more than this, we have gadgets like Google Home, Siri and Alexa.
PYMNTS
AUGUST 22, 2019
In Latin America, news comes this week that Santander Group is boosting its use of Ripple’s technology to aid payments across what CoinDesk reported is a “payment corridor” in Latin America.
Chris Skinner
AUGUST 18, 2019
I just picked up a Financial Times article talking about how Artificial Intelligence (AI) will change the way you deal with money. It’s actually more about the Chinese internet giant Ping An, and how they’re changing finance using AI.
Mobile Payments Today
AUGUST 22, 2019
The official launch of Apple Card has generated major buzz across the payments and banking industry, however a split has emerged about whether the technology company will truly break new ground on a digital payment product that grows the business with consumer friendly financial services
Bank Innovation
AUGUST 22, 2019
The growth of Amazon Go cashierless stores is causing a ripple effect among retailers. It’s what’s been inspiring big-box retailers — among them, Walmart, Sam’s Club, Giant Eagle and others — to develop cashierless payment systems of their own.
Abrigio
AUGUST 22, 2019
Ongoing training is at the very heart of a satisfactory Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program in financial institutions.
PYMNTS
AUGUST 20, 2019
The Apple Card, a credit card created in partnership by the technology company, was officially released in the U.S. on Tuesday (Aug. 20), the company said in a release.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
AUGUST 21, 2019
Royal Bank of Canada is growing its digital product portfolio as mobile user adoption grows.
Abrigio
AUGUST 19, 2019
Main Street Bank, like thousands of other privately held or smaller financial institutions across the U.S., recently found out it will have extra time to implement the current expected credit loss (CECL) accounting standard.
Chris Skinner
AUGUST 20, 2019
I saw a write-up in The Financial Times the other day on how Silicon Valley is eating the banker’s lunch. The article was written by Tom Braithwaite. Tom Braithwaite is the companies editor, managing the FT’s business coverage.
PYMNTS
AUGUST 18, 2019
Mastercard , already an ally of Facebook’s Libra , announced it’s in the midst of planning its own cryptocurrency team, the New York Post reported on Saturday (Aug.
Mobile Payments Today
AUGUST 23, 2019
Recently launched public transit trials in New York, Miami and elsewhere are showing huge potential for digital wallets and contactless cards in driving widespread adoption for mobile payments
Bank Innovation
AUGUST 23, 2019
While student loans are a necessity for many American students, international students face the additional hurdle of a lack of credit access. Washington, D.C.-based based MPOWER is trying to solve this problem by offering international students loans based on future earnings potential.
Accenture
AUGUST 20, 2019
Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks. Key themes.
Chris Skinner
AUGUST 22, 2019
I enjoy being around bankers who have been immersed in the industry nearly all of their lives and hearing their war stories. I heard two stories recently from a retiring banker, and thought it worth sharing to show just how far we’ve come.
PYMNTS
AUGUST 23, 2019
Some early supporters of Facebook’s proposed cryptocurrency Libra , spooked by the intense regulatory scrutiny both national and worldwide, want to distance themselves from the project, according to a report by The Financial Times.
Abrigio
AUGUST 21, 2019
Shopping for a bank secrecy act/anti-money laundering (BSA/AML) monitoring software can feel overwhelming. There are so many options, features, and benefits to each system that it can be tough to figure out where to start. We’ve spent the last 20 years working with industry experts regarding regulatory compliance and our customer base regarding program efficiencies to build BAM+ into the ultimate BSA/AML regulatory and compliance solution.
Bank Innovation
AUGUST 23, 2019
Confirming a customer’s identity is an ongoing pain point for banks and financial institutions around the world. It’s an even bigger challenge for countries that have high underbanked populations like Sierra Leone.
Accenture
AUGUST 20, 2019
Guest bloggers Emily Boese and Rom Mascetti explore why ISVs have plenty to gain and little to lose by adding payment acceptance into their existing software and applications. Merchant acquirers and other payment service providers have long provided merchants the tools they need to process payments.
Chris Skinner
AUGUST 19, 2019
As I walk around The City, I’m often finding new buildings, new developments and major erections rising around the Square Mile. On that latter note, I don’t mean Boris Johnston, but major new office blocks.
PYMNTS
AUGUST 23, 2019
eCommerce is ever faster — and consumers want what they want — now. That means for the firms shipping all manner of goods across all manner of verticals need to track inventory and supply chains in real time. Technology is the key to speed.
ForwardBanker
AUGUST 19, 2019
Last month we wrote about an upcoming cut in interest rates. At the time, we wrote about what financial institutions—especially smaller institutions—should expect. A couple of days later the Federal Reserve announced the first target Fed Funds rate cut in a decade.
Bank Innovation
AUGUST 23, 2019
Welcome to the latest episode of our weekly wrap video series, for the week ending August 23, 2019. In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news developments: How the U.S.
ATM Marketplace
AUGUST 23, 2019
Cash is the quicker choice. The average cash payment transaction at the point of sale takes only around 22 seconds, 7 seconds faster than the average card and PIN payment and a whole 16 seconds quicker than a typical card and signature transaction
Chris Skinner
AUGUST 19, 2019
Things we’re reading today include … ECB Says the Next European Bank Hack Is Just a Matter of Time Bank of America Applies for Multi-Tiered Crypto Wallet Patent Is mobile banking app Monzo too good to be true?
PYMNTS
AUGUST 21, 2019
JPMorgan has discontinued its Chase Pay app that allowed users to pay with their smartphones in stores, according to a report by Bloomberg. The app will stop working in the early part of next year, but users will still be able to use Chase Pay on websites and in the apps of participating retailers.
Banker to Banker
AUGUST 21, 2019
INCREASING LENDING PROFITABILITY Many industry analysts are increasingly gloomy on the banking industry, trimming expectations for net interest margin, interest income, and total profits.
Bank Innovation
AUGUST 19, 2019
While third-party savings apps like Digit, Qapital and Tip Yourself aim to help customers save money automatically, Plinqit is pitching its savings app as a tool that partner banks can use to drive more business.
ATM Marketplace
AUGUST 20, 2019
Branch closures are usually triggered by reduced business or consumer traffic, but the decision is never quite that simple. Here are three events that prompt the decision
Chris Skinner
AUGUST 22, 2019
Things we’re reading today include … U.S. SEC fines Deutsche Bank $16 million to settle foreign corruption charges Can the Fed’s chair shake off the wolves of Wall Street and White House? Jes Staley: the last man in European investment banking Wells Fargo pays $6.5
PYMNTS
AUGUST 21, 2019
Legacy banks have their work cut out for them if they want to survive another century as key players in the digital banking world.
Banker to Banker
AUGUST 21, 2019
CRITICAL THINKING In Part I, we highlighted how having too much information about a decision often increases the confidence about the decision but usually doesn’t change the accuracy of the decision.
Bank Innovation
AUGUST 19, 2019
Better.com, a New York-based mortgage lending startup, raised $160 million in a Series C funding round on Monday to develop new products, hire new employees and launch new partnerships.
Accenture
AUGUST 20, 2019
Guest blogger Mark Quigley discusses what’s driving changes to payments in banking. I needed to write a cheque recently and found myself thinking “How do I do this again!?” Due to my near-total migration to internet and phone banking, what used to be second nature to many people 20 years ago was turning into a bit of a hassle for me: Why I am writing out the numbers in word form? Why do I need to practice my symmetric line drawing to avoid any possible fraud? Where do I even find my cheque book?
PYMNTS
AUGUST 22, 2019
Amazon is on track to invest upwards of $15 billion this year in new tools to help small and medium-sized businesses (SMBs) grow and succeed, according to a press release. . To aid SMBs, 150 new tools have been launched since the beginning of the year, the company announced on Thursday (Aug 22).
ABA Community Banking
AUGUST 21, 2019
As it marks its centennial, North Dakota’s public bank does its work through private-sector partnerships. The post The Bank in the Background appeared first on ABA Banking Journal.
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