Trending Articles

Bank Wars, Episode XX: The Rise of FinTech

Chris Skinner

Over the years, a few people have likened me to the Yoda of banking. Yoda is one of the most likable characters in the Star Wars franchise, but I’m not sure if I like the comparison. Yoda is seriously old, speaks in riddles and is tiny and wrinkled.

Mexican digital bank Stori aims to assist the underbanked

Bank Innovation

Digital bank Stori, which is based in Mexico City, aims to reach customers with minimal access to financial services. Recent research highlights the problems the bank is attempting to solve.

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Banks embrace cash recycling, ITMs to enhance branch ops

Mobile Payments Today

Cash recycling and interactive teller machines are allowing banks and credit unions to create significant efficiencies at the branch level, with reduced staffing costs, increased productivity and reduced cash exposure, according to experts speaking at a panel on branch transformation at ATMIA's annual U.S. conference in Houston.

SilverCloud On How FIs Can Offer SMBs A ‘Consumer’ Banking Experience

PYMNTS

Customer service is the lifeblood of financial services, just as much as credit cards, debit cards and checking accounts.

The Benefits of Leveraging a CRM to Be More Community-Focused

Abrigo

Key Takeaways To better serve their community, as well as stay competitive in this fast-moving environment, savvy CFIs are carefully blending digital innovations with their hallmark relationship banking practices.

Banking is what we do and technology is how we do it

Chris Skinner

A decade ago, we talked about the financial crisis, technology, regulations and compliance.

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Securing Faster Payments: Modernizing Account Validation

Mobile Payments Today

In 2018 alone, ACH network volume reached nearly 23 billion payments –70 payments per person in the U.S. In the 12 months ending February 2019, payment volume across the ACH network increased 7.2%, reaching over 100 million ACH payments per banking day, a first for the ACH network.

How Dynamic Supply Chain Analytics Smooths Cash Flow

PYMNTS

Supply chain management has always presented a challenge for global corporates, with digitization and automation technology aiming to reduce friction and enhance visibility.

FinCEN Clarifies Requirements of Reporting Financial Transactions

Abrigo

In an effort to enhance regulatory efficiency and capture complete, accurate Currency Transaction Report (CTR) data to law enforcement, FinCEN has issued an administrative ruling regarding CTRs (FinCEN Form 112).

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Things worth reading: 17th February 2020

Chris Skinner

Things we’re reading today include … China disinfects banknotes and quarantines them for 14 days Brexit: Britain and EU ‘will rip each other apart’ in trade talks Former Morgan Stanley president slams Europe’s capital markets Climate change could make premiums unaffordable: QBE Insurance UK digital bank Monzo plans to hire … The post Things worth reading: 17th February 2020 appeared first on Chris Skinner's blog. Reading

With ‘fintech startup mentality,’ MoneyGram launches text payments   

Bank Innovation

MoneyGram is upgrading its digital capabilities beyond international cash pickup services with FastSend, a new feature that allows customers to send money to recipients’ accounts via mobile phone numbers instead of account numbers. The feature rolled out earlier this month. “We’re

The Evolution of New Account Fraud

Mobile Payments Today

According to a newly released white paper, commissioned by GIACT, and produced by Javelin Strategy & Research, new account fraud (NAF) is evolving. Fraudsters have piled into the digital channel and, with years of experience under their belts, they are diversifying their targets and tactics

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Creating LATAM’s Commerce ‘Digital Value Chain’

PYMNTS

Instant payments, digital commerce and banking across mobile devices are all gaining ground no matter where you look, geographically speaking.

Cards 163

2020 CRE Outlook: Trends Expected to Shape Commercial Real Estate Lending

Abrigo

Key Takeaways Commercial real estate lending will be a top focus for many financial institutions in 2020. The Mortgage Bankers Association expects 9% growth in CRE originations in 2020.

The Finanser’s Week: 10th February 2020 – 16th February 2020

Chris Skinner

The main blog headlines are … Banking is what we do and technology is how we do it A decade ago, we talked about the financial crisis, technology, regulations and compliance.

BofA integrates digital SMB tool with third-party platforms 

Bank Innovation

Bank of America is enhancing the capabilities of its digital cash management tool for small businesses, Business Advantage 360, by integrating with third-party platforms, including QuickBooks, Run Powered by ADP, G Suite by Google Cloud and Google Analytics. “Businesses go out of business many times because they don’t manage their cash flow properly,” said Sharon […]. Carousel Corporate Banking Customer Experience Product Design ADP Bank of America BofA Business Advantage 360 QuickBooks

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Streamlining KYC: Best Practices in the Collection and Processing of Beneficial Owners

Mobile Payments Today

FinCEN put into effect the most stringent KYC regulations to date requiring FIs to comply with new Customer Due Diligence standards on beneficial ownership, along with multiple FAQs on ID collection and verification.

Mastercard Gets Nod To Join China’s $27T Payments Market

PYMNTS

China’s central bank gave Mastercard the go-ahead on Tuesday (Feb. 11) to set up a bank card clearing business, granting access to a $27 trillion payments market, according to reports. .

How Australia’s banks can rediscover lost purpose

Accenture

In their quest for growth, Australia’s financial services (FS) firms spent decades acquiring and merging with a range of businesses to become one-stop shops. The aim?

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Q: Do investors believe bank digital transformations are succeeding? A: No.

Chris Skinner

Anyone who’s read this blog since 2007 or my books since 2014 will know that I have a regular rallying call: replace core systems; refresh the bank’s technology stack to an open architecture; embrace APIs, apps and analytics; deep dive on data; transform to be digital and not industrial; rethink … The post Q: Do investors believe bank digital transformations are succeeding? A: No. appeared first on Chris Skinner's blog. Digital Bank Future Grid

Varo’s bank charter process a test for consumer banking startups

Bank Innovation

This week, digital banking startup Varo received approval from the Federal Deposit Insurance Corporation, a significant milestone in the company’s three-year quest to become a bank.

TD Bank addresses the evolution of POS

Mobile Payments Today

Mike Rittler, general manager of retail card services and personal lending at TD Bank, shares his insight on trends, transformative innovation and how the 'traditional check out' experience is on its way out

Fiat Chrysler To Debut Robot Taxis In China

PYMNTS

Fiat Chrysler , in partnership with Chinese-based AutoX , wants to launch robo-taxis in China later this year, according to an announcement.

Why Banks Need To Develop Their Own Customer-Facing Technology

Banker to Banker

CONTROLLING YOUR TECH FUTURE The build or buy decision should be a constant question in most bank’s decision making, and unfortunately, most banks default to the “buy.” In some cases, this is appropriate, but in many, it is not.

The Stories We Tell Ourselves About Open Banking

Chris Skinner

I recently spotted a great write-up on Open Banking by Alex Johnson, who has kindly agreed I can republish it. So, here we go … The Stories We Tell Ourselves About Open Banking Distinguishing between what’s true and what we want to be true.

Mastercard wins approval to join China’s $27T market

Bank Innovation

Mastercard Inc. won approval to set up a bank card clearing business in China, gaining access to a $27 trillion payments market as part of the nation’s financial opening.

The Hidden Costs of Synthetic Identity Fraud

Mobile Payments Today

Synthetic identity fraud (SIF) schemes create identities out of real and fake personally identifiable information. These schemes are difficult to detect as they combine valid information with fictitious e-mail and social media accounts.

Wells Fargo Invests $5M In Blockchain Analysis Startup Elliptic

PYMNTS

Wells Fargo Strategic Capital (WFSC) is backing the London-based blockchain analysis firm Elliptic with a $5 million investment, bringing the startup’s Series B round to $28 million, Elliptic announced in a press release on Thursday (Feb. 13). .

Loan Floors and the Zero Interest Rate Environment

Banker to Banker

EXTREME ALCO We are working with numerous community bankers to develop strategies for instituting floors on commercial loans

The true meaning of BaaS

Chris Skinner

Just spent a day chairing a payments stream at a conference.

With new funding, Nova Credit to expand auto finance and mortgage businesses 

Bank Innovation

Nova Credit, a startup whose technology helps banks underwrite immigrants, is growing its auto finance and mortgage offerings. The San Francisco-based company, which partners with such large institutions like American Express, allows institutions to pull foreign credit data to develop U.S.-equivalent