INDUSTRY INSIGHTS YOUR PEERS ARE READING
Corporate card and financial product startup Brex is best known as an enabling platform for businesses, with a focus on startups. The three-year-old company, which is reportedly valued at $2.6 billion, initially spread the word about its offerings through word-of-mouth referrals. MORE
First there was the financial crisis of 2008. Then years of negative interest rates. Now, banks face what one financial regulator calls the “real game changer.” MORE
Accounts payable invoice automation provider Invoice Stream is integrating its technology into payments services provided by Usio. Usio announced the collaboration in a press release Tuesday (Dec. MORE
Guest bloggers Alex, Devon, Eliza and Reagan – from Accenture’s Emerging Leaders Program – wrap up their two-part series on how a consortium model can help regional retail banks keep up with the tech acquisition capabilities of larger banks. MORE
Since your bank's primary value proposition is service and you are likely striving for a superior customer experience, then it would make sense that the first stop you should make is to improve your ability to communicate with the customer. MORE
The notion that customers don’t trust non-legacy banking brands is starting to fade, at least in the U.K. A study from consultancy A.T. Kearney released this month entitled “How Convenience, Innovation, and Trust Will Shape Tomorrow’s Banking,” noted that while U.K. MORE
Mastercard is running two transportation-friendly holiday season options for cardholders using tap-and-go payment in New York City, the company announced in a release. . MORE
Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco told bankers and lawyers at a conference Dec. 10 that the information they report provides important data for agents, analysts and investigative personnel, according to his prepared remarks. MORE
Things we’re reading today include … Global financial watchdogs take aim at Big Tech’s data dominance U.S. MORE
Nike has been awarded a patent by the U.S. Patent Office for the sneaker company’s new blockchain-compatible sneakers, which are called “CryptoKicks,” according to reports. The CryptoKicks will be attached to a system that will use blockchain to attach digital assets to the actual shoes. MORE
The morning’s Employment Situation Report from the Bureau of Labor Statistics showed a fairly (and surprisingly) strong labor market. There were 266,000 new jobs added in the month of November, compared to the 188,000 new jobs expected. MORE
A bitcoin aficionado who goes by the name "21isenough" has created a prototype for a Lightning ATM. The contraption allows you to send tiny amounts of bitcoin over the Internet via the Lightning Network, a second-layer protocol that works on top of bitcoin MORE
The main blog headlines are … Treating Customers Unfairly (#HSBC) I’ve blogged many times that so called free banking is a fallacy. MORE
Canadian business bank CWB Financial Group will roll out personalized insights within its app and online platform in 2020. MORE
Building on my blog post last week, showing the views of 1997, it was clear years ago that banking was under siege. However, that siege never happened. Tesco thought that most banks were “a bunch of clowns”, but never cracked the market and still have not. MORE
Centana Growth Partners, a New York and Palo Alto, Calif.-based based growth equity firm, closed its second fintech valued at $375 million this week. The firm, which closed a $250 million fund in 2015, primarily invests in business-to-business technology companies. MORE
In a world reliant on smartphone apps, bank branches may no longer be Main Street mainstays, with red velvet ropes between brass stanchions herding customers to tellers behind wickets. MORE
With the Windows 10 migration just months away, a growing number of banks and credit unions are considering simply walking away from traditional Windows-PC based ATMs, perpetual ATM upgrade expenses and the short software life cycles MORE
Back in 1997, I was tasked with writing a strategy for NCR. The strategy had to review the likelihood that other industries would enter banking and what threat or opportunity this offered. MORE
Billions of people do not have access to a bank account, either due to the lack of income, unstable financial markets or the lack of verifyable identification. At the same time, millions of these same people operate in major consumer markets and shop for food, apparel, household goods and gifts MORE
While U.S. consumers may be hesitant to adopt mobile payments, small businesses are more open to it. A recent J.D. Power study reports that mobile banking adoption for small business owners has surpassed adoption for retail banking customers. The findings from the research firm’s 2019 U.S. MORE
Assume for a second that your bank screws up and causes a problem. The customer comes in or calls to complain - Do you apologize? Of course, you do – but then what? For the most part, community banks are fantastic and solving problems and making customers happy. MORE
Critical questions treasury leaders need to ask themselves and their teams. With a variety of challenges squeezing profits and increasing competition for commercial customers, financial institutions (FIs) are re-evaluating the role of treasury management. MORE
Marbue Brown, head of customer experience for consumer banking at JPMorgan Chase, believes that customers need to walk away feeling fulfilled when they engage the bank at the branch, on the phone or within the mobile app MORE
How merchants enable and streamline payment acceptance is now at the forefront of the shopping experience. Acquiring—once a stable and steady background business helping retailers accept and process debit and credit cards at point-of-service and remotely (such as via telephone and mail)—is now a key differentiator for businesses. The more shopping behaviors change—from in-store to…. The post Finding high-value-adding pathways for merchant acquirers appeared first on Accenture Banking Blog. MORE
In 2017, Andreessen Horowitz general partner Alex Rampell said that of all the tech giants that could make a major move in financial services: “Amazon is the most formidable. If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. MORE
Each quarter, Ryan Douglas from the Card Issuing group reports on recent developments for the US consumer credit card sector and compiles key metrics reported by the largest US banks (spend, receivables, loss rates and returns). MORE
Key Takeaways Elder financial abuse/exploitation (EFE) is under-reported although it remains on the rise. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. . The under-reported and growing crime. Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. MORE
Key Takeaways. The landscape around banking hemp and hemp-related businesses is very confusing. A joint statement was issued to provide guidance to institutions regarding banking hemp. The guidance does not cover marijuana banking. . Seeing through the smoke. MORE
A few weeks ago I got back to Berlin from a nearly six week trip to India. I stayed most of the time with my family-in-law in Mumbai but at the very beginning of my trip, I went for a ten days Vipassana (kind of meditation retreat) in Mumbai. MORE
As cashierless shopping becomes more popular, a stark disparity is coming to light — the underbanked are getting left behind. In this blog post, Plain Green's Guy Dilger talks about the move away from cash and how some cities are fighting back MORE
I’ve blogged many times that so called free banking is a fallacy. It’s actually only free as long as you don’t go overdrawn. The result is that the most financially challenged group of customers pay for the wealthy bank users, by being stiffed with high costs and fees. MORE
The business of banking is reaching a critical inflection point as ‘challengers’ take market share and incumbents implement strategies to accelerate their digital transformation efforts to enhance customer journeys. MORE
A further discussion about data and the key issue of who should have access. During a recent lunch, we talked about how Chinese citizens allow the government to see all of their digital footprint via Tencent and Alibaba, but they do this for a number of reasons. MORE
A record holiday shopping performance on Cyber Monday was driven by heavy use of mobile by retailers looking to take advantage of the short holiday season MORE
My latest trip to Phoenix gave me a preview of what’s to come in auto financing, the for-hire vehicle industry and autonomous fleet management. And, that was just on my ride back to the airport. With my travel schedule, hailing a ride to the airport using a ride sharing app is all in a day’s…. MORE
Bank Innovation
DECEMBER 10, 2019
Centana Growth Partners, a New York and Palo Alto, Calif.-based based growth equity firm, closed its second fintech valued at $375 million this week. The firm, which closed a $250 million fund in 2015, primarily invests in business-to-business technology companies.
Mobile Payments Today
DECEMBER 10, 2019
A bitcoin aficionado who goes by the name "21isenough" has created a prototype for a Lightning ATM. The contraption allows you to send tiny amounts of bitcoin over the Internet via the Lightning Network, a second-layer protocol that works on top of bitcoin
Chris Skinner
DECEMBER 9, 2019
A further discussion about data and the key issue of who should have access. During a recent lunch, we talked about how Chinese citizens allow the government to see all of their digital footprint via Tencent and Alibaba, but they do this for a number of reasons.
Accenture
DECEMBER 10, 2019
My latest trip to Phoenix gave me a preview of what’s to come in auto financing, the for-hire vehicle industry and autonomous fleet management. And, that was just on my ride back to the airport. With my travel schedule, hailing a ride to the airport using a ride sharing app is all in a day’s….
Abrigo
DECEMBER 6, 2019
The morning’s Employment Situation Report from the Bureau of Labor Statistics showed a fairly (and surprisingly) strong labor market. There were 266,000 new jobs added in the month of November, compared to the 188,000 new jobs expected.
Bank Innovation
DECEMBER 10, 2019
While U.S. consumers may be hesitant to adopt mobile payments, small businesses are more open to it. A recent J.D. Power study reports that mobile banking adoption for small business owners has surpassed adoption for retail banking customers. The findings from the research firm’s 2019 U.S.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
DECEMBER 10, 2019
Each quarter, Ryan Douglas from the Card Issuing group reports on recent developments for the US consumer credit card sector and compiles key metrics reported by the largest US banks (spend, receivables, loss rates and returns).
Abrigo
DECEMBER 5, 2019
Key Takeaways. The landscape around banking hemp and hemp-related businesses is very confusing. A joint statement was issued to provide guidance to institutions regarding banking hemp. The guidance does not cover marijuana banking. . Seeing through the smoke.
Chris Skinner
DECEMBER 8, 2019
Things we’re reading today include … Global financial watchdogs take aim at Big Tech’s data dominance U.S.
Bank Innovation
DECEMBER 10, 2019
In a world reliant on smartphone apps, bank branches may no longer be Main Street mainstays, with red velvet ropes between brass stanchions herding customers to tellers behind wickets.
Mobile Payments Today
DECEMBER 5, 2019
Billions of people do not have access to a bank account, either due to the lack of income, unstable financial markets or the lack of verifyable identification. At the same time, millions of these same people operate in major consumer markets and shop for food, apparel, household goods and gifts
Banker to Banker
DECEMBER 9, 2019
Assume for a second that your bank screws up and causes a problem. The customer comes in or calls to complain - Do you apologize? Of course, you do – but then what? For the most part, community banks are fantastic and solving problems and making customers happy.
Abrigo
DECEMBER 10, 2019
Key Takeaways Elder financial abuse/exploitation (EFE) is under-reported although it remains on the rise. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. . The under-reported and growing crime. Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States.
Chris Skinner
DECEMBER 8, 2019
Building on my blog post last week, showing the views of 1997, it was clear years ago that banking was under siege. However, that siege never happened. Tesco thought that most banks were “a bunch of clowns”, but never cracked the market and still have not.
Bank Innovation
DECEMBER 9, 2019
The business of banking is reaching a critical inflection point as ‘challengers’ take market share and incumbents implement strategies to accelerate their digital transformation efforts to enhance customer journeys.
Mobile Payments Today
DECEMBER 3, 2019
A record holiday shopping performance on Cyber Monday was driven by heavy use of mobile by retailers looking to take advantage of the short holiday season
Banker to Banker
DECEMBER 9, 2019
Since your bank's primary value proposition is service and you are likely striving for a superior customer experience, then it would make sense that the first stop you should make is to improve your ability to communicate with the customer.
PYMNTS
DECEMBER 10, 2019
Accounts payable invoice automation provider Invoice Stream is integrating its technology into payments services provided by Usio. Usio announced the collaboration in a press release Tuesday (Dec.
Chris Skinner
DECEMBER 7, 2019
The main blog headlines are … Treating Customers Unfairly (#HSBC) I’ve blogged many times that so called free banking is a fallacy.
Bank Innovation
DECEMBER 9, 2019
The notion that customers don’t trust non-legacy banking brands is starting to fade, at least in the U.K. A study from consultancy A.T. Kearney released this month entitled “How Convenience, Innovation, and Trust Will Shape Tomorrow’s Banking,” noted that while U.K.
Accenture
DECEMBER 10, 2019
How merchants enable and streamline payment acceptance is now at the forefront of the shopping experience. Acquiring—once a stable and steady background business helping retailers accept and process debit and credit cards at point-of-service and remotely (such as via telephone and mail)—is now a key differentiator for businesses. The more shopping behaviors change—from in-store to…. The post Finding high-value-adding pathways for merchant acquirers appeared first on Accenture Banking Blog.
CB Insights
DECEMBER 4, 2019
In 2017, Andreessen Horowitz general partner Alex Rampell said that of all the tech giants that could make a major move in financial services: “Amazon is the most formidable. If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”.
PYMNTS
DECEMBER 10, 2019
Nike has been awarded a patent by the U.S. Patent Office for the sneaker company’s new blockchain-compatible sneakers, which are called “CryptoKicks,” according to reports. The CryptoKicks will be attached to a system that will use blockchain to attach digital assets to the actual shoes.
Bank Innovation
DECEMBER 9, 2019
First there was the financial crisis of 2008. Then years of negative interest rates. Now, banks face what one financial regulator calls the “real game changer.”
Accenture
DECEMBER 3, 2019
Guest bloggers Alex, Devon, Eliza and Reagan – from Accenture’s Emerging Leaders Program – wrap up their two-part series on how a consortium model can help regional retail banks keep up with the tech acquisition capabilities of larger banks.
ATM Marketplace
DECEMBER 10, 2019
As cashierless shopping becomes more popular, a stark disparity is coming to light — the underbanked are getting left behind. In this blog post, Plain Green's Guy Dilger talks about the move away from cash and how some cities are fighting back
PYMNTS
DECEMBER 10, 2019
Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco told bankers and lawyers at a conference Dec. 10 that the information they report provides important data for agents, analysts and investigative personnel, according to his prepared remarks.
Chris Skinner
DECEMBER 5, 2019
I’ve blogged many times that so called free banking is a fallacy. It’s actually only free as long as you don’t go overdrawn. The result is that the most financially challenged group of customers pay for the wealthy bank users, by being stiffed with high costs and fees.
Bank Innovation
DECEMBER 9, 2019
Corporate card and financial product startup Brex is best known as an enabling platform for businesses, with a focus on startups. The three-year-old company, which is reportedly valued at $2.6 billion, initially spread the word about its offerings through word-of-mouth referrals.
ForwardBanker
DECEMBER 10, 2019
Critical questions treasury leaders need to ask themselves and their teams. With a variety of challenges squeezing profits and increasing competition for commercial customers, financial institutions (FIs) are re-evaluating the role of treasury management.
Lars Markull
DECEMBER 10, 2019
A few weeks ago I got back to Berlin from a nearly six week trip to India. I stayed most of the time with my family-in-law in Mumbai but at the very beginning of my trip, I went for a ten days Vipassana (kind of meditation retreat) in Mumbai.
PYMNTS
DECEMBER 10, 2019
Mastercard is running two transportation-friendly holiday season options for cardholders using tap-and-go payment in New York City, the company announced in a release. .
Chris Skinner
DECEMBER 4, 2019
Back in 1997, I was tasked with writing a strategy for NCR. The strategy had to review the likelihood that other industries would enter banking and what threat or opportunity this offered.
Bank Innovation
DECEMBER 6, 2019
Canadian business bank CWB Financial Group will roll out personalized insights within its app and online platform in 2020.
ATM Marketplace
DECEMBER 6, 2019
With the Windows 10 migration just months away, a growing number of banks and credit unions are considering simply walking away from traditional Windows-PC based ATMs, perpetual ATM upgrade expenses and the short software life cycles
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