Trending Articles

Things worth reading: 23rd October 2019

Chris Skinner

Things we’re reading today include … Morgan Stanley elbows out rivals for plum role in $1.5

E-Commerce Merchants: A Hot Commodity in the Dark Web

Abrigio

Dark Web | 5 minute read Key Takeaways Cybercriminals are now targeting e-commerce merchants with malware attacks. Merchants of all sizes are being targeted. Financial institutions should be proactive with their fraud prevention on the dark web. . The New Frontier on the Dark Web.

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Finastra taps Ripple for real-time payments across borders

Bank Innovation

Banking technology provider Finastra, which works with more than 9,000 clients, is partnering with payment network Ripple to facilitate real time, blockchain-supported payments for its customers.

Bringing Autonomous Smart Shuttles To the Masses

PYMNTS

There will be 41.6 billion Internet of Things (IoT)-connected devices around the world by 2025. Consumers and businesses have increasingly employed the technology in a variety of use cases as it becomes more sophisticated, from smart cars to sensors that can be utilized for smart cities.

Chime outages illustrate complexities of digital banking

Mobile Payments Today

Chime Bank is recovering from its third system outage since July, and this most recent incident is serving as a wake-up call for many in the industry about the vulnerabilities of managing critical financial services in a digital-only environment

Why decentralised currencies are a PEST!

Chris Skinner

Sometimes you debate stuff and a realisation comes. I had one of these today. When futurists talk about the future, they generally based their opinions on forces of change, known colloquially as PEST. Political, Economic, Social and Technological change.

Mastercard acquires data platform SessionM to help brands boost customer loyalty

Bank Innovation

Payments giant Mastercard has acquired Boston-based SessionM, a nine-year-old software company that helps clients improve customer relationships through data analysis.

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Creating a Customer-Centric, Digital Financial Institution

Abrigio

A farmer, a university student, and a business owner walk into a bank. It sounds like the beginning of a joke, but for many community financial institutions, a spectrum of different customers and banking needs is something that they see every day.

3 ways to improve the retail app shopping experience

Mobile Payments Today

With mobile apps poised to become the de facto digital shopping channel, retailers can no longer treat them as an afterthought or merely an extension of the website experience

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For Whom The Tweet Chimes: the problems of being cloud native and open

Chris Skinner

Banks are control freaks. I’ve blogged about that often. I’ve also blogged often about how they need to move to be open and partnering. That’s not easy. It’s obviously easier to launch a brand new bank, fresh with no legacy and open to everything, isn’t it? Not necessarily so.

Zelle posts 58% year over year growth in payment volume, as banks navigate UX

Bank Innovation

Peer-to-peer payments network Zelle is growing transaction volume, according to numbers released Tuesday by its bank-owned network operator, Early Warning Services.

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SoftBank, JP Morgan Discuss Bailout To Prevent WeWork Insolvency

PYMNTS

SoftBank and JP Morgan are in talks to rescue WeWork before it runs out of money, which is expected to happen by mid-November, CNBC reported on Tuesday (Oct. Sources told CNBC that talks between SoftBank and JP Morgan have been ongoing ever since the startup’s IPO was pulled about two weeks ago. The bailout could involve equity from SoftBank and debt from J.P. Morgan, sources said.

On Spreadsheet Day 2019, Celebrate the App, But Acknowledge Its Limitations

Abrigio

On Spreadsheet Day 2019, Celebrate the App, But Acknowledge Its Limitations. Sub-category | 10 minute read Key Takeaways Spreadsheet Day is a good time to celebrate this popular tool while examining some vulnerabilities spreadsheets pose for FIs.

Traditional banks accelerate shift towards digital amid competitive pressures

Mobile Payments Today

Traditional banks in the U.S. and Europe are picking up the transition to digital banking as they face heightened competition from fintech startups and consumers become more and more comfortable with mobile apps and online sites for routine functions

Things worth reading: 22nd October 2019

Chris Skinner

Things we’re reading today include … Chinese vice foreign minister says progress made in trade talks with U.S

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Visa, Mastercard say they just made mobile shopping a lot easier

Bank Innovation

Smartphones have made taking a photo and checking fantasy football scores a breeze, but inputting credit card details on that small screen can still be frustrating enough that many shoppers just give up, costing retailers billions.

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Outback Steakhouse Pilots Machine Learning Tech

PYMNTS

At multiple restaurants operated by one of its franchisees, Outback Steakhouse is testing machine learning (ML) technology from Presto. The test is focused on the restaurant lobby, but could grow to the kitchen, curbside pickup and dining room areas, CNBC reported. Presto Founder and CEO Rajat Suri said the technology assists restaurants in fixing blind spots, noting that “managers can’t be everywhere at all times.”

Hot baths and warm burritos of a reimagined payments industry

Accenture

Life in the Middle Ages in Europe was hard. The majority of people’s time was spent on the basics: hauling water from the well, chopping firewood and getting enough to eat.

The changing patterns in cross-border payments markets

Mobile Payments Today

The cross-border payments market is increasingly complex and creates a series of challenges for ecommerce companies who need to be able to allow customers to pay in the methods they prefer

Things worth reading: 21st October 2019

Chris Skinner

Mastercard debuts digital ‘cash on delivery’ and real-time bill payments

Bank Innovation

Mastercard is launching a suite of real-time payment capabilities to grow its value proposition to banks and corporate clients, including a modern twist on ‘cash on delivery’ which lets buyers pay suppliers with one click.

WeChat Pay Rolls Out Utility To Transfer Funds Between Smartphones

PYMNTS

Tencent’s WeChat Pay is launching a new payments feature that lets people transfer funds using a mobile phone number, TechNode reported on Wednesday (Oct.

To maximise customer revenues, become a “living business”

Accenture

The approach banks have taken to revenue growth in the past has largely been focused on becoming the single banking provider of all products for their customers.

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How Optionality Impacts Your Net Interest Margin

Banker to Banker

IMPROVING NIM For the majority of bankers, maintaining or increasing net interest margin (NIM) is the single most significant focus today. The shape of the yield curve and lower rates have caused NIM compression across the board and have hurt bank equity performance.

Google versus Government

Chris Skinner

I’ve been noticing that there are more and more issues arising with the big internet giants. Unlike in China, where the companies are working with governments, the big Western giants work outside government control.

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The banking experience in which your financial institution should invest for growth

Bank Innovation

Across the U.S., banks and credit unions continue to face digital disruption. As mobile banking usage surges, branch visits continue to decline. A BI Intelligence study found that mobile banking is nearing ubiquity, with usage topping in at 83 percent.

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Penske Announces Launch Of Carsharing Unit

PYMNTS

Transportation company Penske Corporation announced that it is rolling out its new carsharing service in Washington, DC and Arlington, VA, this week.

How Credit Unions Can Set Themselves Apart in the Mortgage Lending Business

CU Direct

Since their inception, credit unions have been able to leverage the membership dynamic to set themselves apart from other financial institutions. But when it comes to building a mortgage lending pipeline, it takes more than just a built-in membership base to serve today’s borrowers’ needs.

How Great Bank Brand Stories Are Built

Banker to Banker

BANK MARKETING Few bankers doubt the power of great storytelling. Instead of advertising, many banks have evolved into showcasing a customer, employee, or creative narrative that walks the reader to some point of conflict and then tells of a resolution.

The Finanser’s Week: 14th October – 20th October 2019

Chris Skinner

The main blog headlines are … Talking ’bout my generation I was reflecting on things again. Dangerous. My reflection was on when I grew up. My mum and dad went through the second world war. They feared for their lives and for our future.

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Santander rolls out payments solution for North America

Bank Innovation

Santander Bank has rolled out Santander Cash Nexus, a payments tool solution for the bank’s commercial, corporate and investment banking clients in North America.

Xero, GoCardless Enable Recurring Payment Collection For US SMBs

PYMNTS

Small business cloud accounting firm Xero is strengthening its partnership with U.K.-based based recurring payments solution provider GoCardless to expand their offerings to U.S. joint customers. The firms announced their expanded collaboration via press release Tuesday (Oct.

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[Guide] 5 Opportunities to Transform Retirement Services with AI

Perficient Financial Servies

Financial services back-office processing, particularly in retirement services, has historically been a very labor-intensive and opaque environment.

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ATMIA CEO Q&A: 'Cash and digital payments need to coexist'

ATM Marketplace

ATM Marketplace caught up with ATMIA CEO Mike Lee at ATMIA Europe in Rome for a long chat about the war on cash and the future of ATMs. We even asked him about bitcoin

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Talking ’bout my generation

Chris Skinner

I was reflecting on things again. Dangerous. My reflection was on when I grew up. My mum and dad went through the second world war. They feared for their lives and for our future.

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N26’s Kopp: U.S. expansion coming “in increments”

Bank Innovation

N26, the digital-only banking brand based out of Berlin, began a staged rollout of its app in the U.S. earlier this summer before becoming widely available to American consumers in August. The brand launched in Europe in 2015 and has since gained 3.5

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Deluxe Treasury Management Adds Bill Payment To AR Offering

PYMNTS

Deluxe Corporation is augmenting its treasury management solution by integrating a bill presentment and payment processing function into its existing accounts receivable tool. Deluxe Treasury Management said in a press release on Tuesday (Oct.