Trending Articles

FinTech’s lies, damned lies and statistics

Chris Skinner

There are lies, darned lies and statistics. I often quote numbers in my presentations and get pretty annoyed if they’re wrong. I also prefer to take official sources rather than estimates.

Payments fraud remains on the table as PSD2 delay takes hold

Mobile Payments Today

As the payments industry works to get through an 18-month delay in implementing Strong Customer Authentication, retailers and consumers remain vulnerable as criminal fraudsters will likely seek to take advantage of the lull

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The best FinTech startups in Europe

Chris Skinner

I received a long and lengthy article last week from Taylor Ryan, CMO at Valuer.ai (tryan@valuer.ai). The link provides a comprehensive article on European FinTech developments. It’s so good that I am happy to share it with y’all. Enjoy.

Chatbot Company Sued By Delta Over Data Breach

PYMNTS

Delta Airlines Inc. has filed a lawsuit against a firm that powered a chatbot on its website. The lawsuit alleges that [24]7.ai

How digital lender Earnest is charting its growth path

Bank Innovation

At $6 billion in refinanced student loans, digital lender Earnest is rapidly growing its reach. The seven-year-old company offers student loans and refinancing options, approving more than 50% of refinancing applications within one minute using its proprietary assessment tool.

Achievement is a Moving Benchmark

Credit Union Geek

Originally published as feature article in February 2015 issue of student newsletter at my dojo, University Karate Center. Then published on CUInsight.com Training in martial arts isn’t easy. Same with any other sport or activity.

A bank that runs accounts for just 50 cents a year

Chris Skinner

I recently attended a FinTech conference where Henry Ma, Vice President & Chief Information Officer of WeBank, presented an update of how the bank is faring in China. For those unaware, WeBank is the offshoot of WeChat Pay, WeChat and Tencent, and focsuses upon financial inclusion in China.

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Citibank Sees Credit Card Charge Offs, Delinquency Rates Spike

PYMNTS

Citigroup reported that its July credit-card delinquency rate increased to 2.91 percent in July, up from 2.56 percent in June. The lender’s three-month average is 1.54 percent, with a net charge-off rate of 2.91 percent, an increase from 2.56 percent in June, reported Seeking Alpha.

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Challenger banks raise $649m in Q2 as investor confidence grows

Bank Innovation

Challenger banks are the single biggest segment among the fastest growing fintech startups, CB Insights reported Tuesday. According to the latest CB Insights’ State of Fintech Funding report, digital-only challenger banks raised $649 million across 17 deals in the second quarter of 2019.

Is the ThinkBIG Conference Right for My Financial Institution?

Abrigio

The first annual ThinkBIG Conference is right around the corner.

Achieving Compliance in Record Time - AADHAAR TOKEN GATEWAY

Mobile Payments Today

India’s leading bank leverages FSS Aadhaar Token Gateway to tokenize 5M Aadhaar records and protect customer data against breaches. Learn more

Visa’s CyberSource On The Digital Payments Evolution

PYMNTS

The “online version of a payments terminal” was how the media portrayed Visa ’s acquisition of CyberSource in 2010. Then, it was a very easy way to mentally place the online payments processor in what was at the time a nascent online payments ecosystem. And very nascent it was.

Why SellersFunding sees an opportunity with Amazon, eBay merchants

Bank Innovation

As e-commerce merchants’ needs become more complex, the ecosystem of small-scale lenders continues to expand to meet demand. On Wednesday, U.S.-based based e-commerce loan provider SellersFunding announced its expansion plans to Canada and the U.K.,

The back-office revolution: powered by the agile workforce

Accenture

Closing out their four-part series, guest bloggers Ben Lopez and Charlie Arthy discuss how banks can empower their back-office workers to add value and fuel growth. It’s a bold move, but winning banks will remake their back office into a front-line, value-adding engine that can stir growth.

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Chris Skinner’s TEDx Talk

Chris Skinner

Well, I’ve always thought there’s a few accolades that would be good on the profile. Advisor to the White House, World Bank, World Economic Forum and United Nations all sounds good. Now I can add TEDx Speaker.

Merging digital and in-person services for the next generation of banking customers

Mobile Payments Today

Banks and other financial services organizations will face new challenges in order to match mobile technology and in-person customer service to attract and maintain customers in the Generation Z era

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Can Banks Get On The Super App Train?

PYMNTS

Here’s some bad but potentially motivating news about banks: So far, they are missing out on an emerging opportunity to get into the “super app” game, which is shaping up to be one of the biggest focuses of payments and retail innovation in the 2020s.

German payments giant Wirecard targets US with new app

Bank Innovation

Wirecard, a Germany-based payments firm that works with brands and retailers, recently launched its first U.S. mobile application in an effort to expand its reach across the Atlantic. The 20-year-old publicly-traded company, which recently reported consolidated revenues of $1.3

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Cash won't die in America — it's too darn convenient

ATM Marketplace

Cash is still king when it comes to buying things like a cup of coffee, pack of gum or a pint of beer in the U.S. Because it's faster and often more convenient, especially when it comes to the little stuff

The Finanser’s Week: 12th August – 18th August 2019

Chris Skinner

The main blog headlines are … Chris Skinner’s TEDx Talk I am honoured and privileged to list on my profile that I have been an advisor to the White House, World Bank, World Economic Forum and United Nations. Now I can add TEDx Speaker.

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Shopping grinds to halt when Mexican banks unable to process cards over weekend

Mobile Payments Today

Major banks in Mexico reported problems processing debit and credit card payments on Saturday. The problem stemmed from a Prosa data center outage

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How FinTechs Combine The Benefits Of A Gateway, Hub And Switch

PYMNTS

FinTech firms will travel the world and describe what they are up to using brand-new terms that are different or exciting. People might draw comparisons in response — wait a second, isn’t this kind of like? — and use some more familiar terms that have been in the marketplace for a long time.

Inside Xolo’s plan to win the banking business of contractors

Bank Innovation

Xolo, an Estonia-based financial platform for freelance workers, is launching a product to allow European contractors to set up a financial toolkit in a matter of minutes, which includes bank accounts, legal cover and accounting services.

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The SAFE Banking Act Update – Is Regulation for Banking CRBs on the Horizon?

Abrigio

Many in the financial crimes community have been waiting for some sort of guidance on banking cannabis-related businesses. The Secure and Fair Enforcement (SAFE) Banking Act was introduced to address the cannabis banking issue and the accompanying lack of banking services to the cannabis industry, forcing significant amounts of cash to be stored in vaults or underground.

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Is transparency a good thing?

Chris Skinner

Who wants transparency when you can have magic? Do you watch The Crown? If not, maybe you should as Series 3 is about to begin with Olivia Coleman, a great actress.

Cash won't die in America — it's too darn convenient

Mobile Payments Today

Cash is still king when it comes to buying things like a cup of coffee, pack of gum or a pint of beer in the U.S. Because it's faster and often more convenient, especially when it comes to the little stuff

New Strain Of Ransomware Striking US, European Firms 

PYMNTS

Cyber insurance claims are spiking as a new type of ransomware targets companies across the U.S. and Europe, the The Financial Times reported on Sunday (Aug.

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How credit startup Deserve aims to reach the ‘unscoreables’

Bank Innovation

When Kalpesh Kapadia moved to the U.S. from India as a student more than 20 years ago, access to credit was a major challenge for him. Without credit, buying car, a home or even signing a lease can seem out of reach.

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How Mexico's war on stolen gas is turning into a war on cash

ATM Marketplace

Criminal gangs have been stealing gas in Mexico for decades, but in recent years, the situation has spun out of control. Putting a stop to corruption requires tracking money flows, which is hard to do in a country where cash is king

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Things worth reading: 16th August 2019

Chris Skinner

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Are Current Security Measures Providing an Effective Defense Against Data Breaches? Data Security I Encryption I Cloud Services I Security Budget

Mobile Payments Today

As criminal activity evolves, the challenge is on for companies to keep pace with the latest data breach threats. Download this infographic from TNS which looks at the challenges organizations are facing when developing and evolving their security plans

Pasta Passes Sell Out At Olive Garden

PYMNTS

With fans of the restaurant chain looking to get an unlimited fix, Olive Garden ‘s Never Ending Pasta Pass sold out in one second. All 24,000 passes were bought by customers, Fox Business reported. Members spent more than $100 for a nine-week pass.

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Funding Circle surpasses $10b in loans, plans aggressive partnership strategy

Bank Innovation

Funding Circle, the U.K.-based based peer-to-peer lending platform, hit a $10 billion milestone in loans to small- to medium-sized (SME) businesses on Thursday. The nine-year-old company plans to continue to develop its “partnership strategy,” Bernard Martinez, U.S.

Global Fintech Report Q2 2019

CB Insights

Report Highlights: Q2’19 fintech funding topped $8.3B, boosted by a record quarter of 25 $100M+ mega-rounds: Funding to VC-backed fintech companies grew 24% QoQ in Q2’19 and neared previously quarterly funding highs.

Things worth reading: 15th August 2019

Chris Skinner

How Your Bank Can Pick Up 40 Basis Points of Margin

Banker to Banker

IMPROVING MARGIN Community banks face intense competition from different institutions and various industries. There is currently a market phenomenon that is creating an unusually challenging environment for community banks that compete for real estate financing.

FTC Chair: Breaking Up Big Tech Is An Option

PYMNTS

The chief of the U.S. Federal Trade Commission (FTC) said he’d he’d be willing to break up tech companies if necessary, according to a report by Bloomberg.