Customers don’t want digital banking

Chris Skinner

So my snarky little friend Ron Shevlin wrote a piece on Forbes claiming that Americans don’t want a digital bank. As the guy who wrote the book Digital Bank you might think I would take offence to such a statement, but no. Digital Bank Fintech Future Grid Opinion

Digital banks have fast and regular communication

Chris Skinner

A further aspect of the digital banks I am talking with is that they have reviews all the time. It is quick, frequent and informal unlike the old industrial … The post Digital banks have fast and regular communication appeared first on Chris Skinner's blog.

Digital Banking, Millennially Mobile

PYMNTS

Banking has gone beyond the branch, and financial services are increasingly rendered in bits and bytes. As found by the Digital Banking Tracker , the younger generation is apt to use apps, especially when it comes to navigating accounts.

The CEO and Chair make digital banking work

Chris Skinner

I claim that most of the banks embracing true digital transformation and not just treating digital as a channel, are led by people who understand technology. Not just … The post The CEO and Chair make digital banking work appeared first on Chris Skinner's blog.

Digital banks are led by clear customer-obsessed principles

Chris Skinner

Another key factor of the digital banks I’m talking to is that the customer is their primary focus. Digital Bank GridNot the shareholder, the investor, the quarterly bonus, the dividend yield or the cost-income ratio. The customer.

Digital banks look more like Big Tech and vice versa

Chris Skinner

I found it interesting to hear that many of the banks focused upon digital are studying, visiting, talking to and hiring people from the Big Tech firms. Digital Bank Grid

Digital Banking, With Millennial, Mobile – And Governmental – Tailwinds

PYMNTS

As we noted in this space earlier in the summer, using apps to bank is markedly being embraced by the younger generation. As spotlighted in the Digital Banking Tracker , the global digital banking market is slated to grow by 16 percent, compounded annually.

Nigerian FinTech Kuda Raises $1.6M For Digital Banking Tech

PYMNTS

Kuda, Nigeria’s first digital-only bank with a standalone license, has raised $1.6 Unlike other FinTech startups, Kuda was granted a banking license from the Nigerian Central Bank. Kuda is the first digital-only bank in Nigeria with a standalone license.

Becoming a Digital Bank: the how and why

Chris Skinner

Starting From Scratch – The Path for Western FinTech It would be incorrect to call Chris Skinner an industry old hat, since despite his 10+ years in the FinTech industry, he’s known for being on the … The post Becoming a Digital Bank: the how and why appeared first on Chris Skinner's blog.

Adoption of digital banking doubles at RBC

Bank Innovation

The Royal Bank of Canada, Canada's largest bank, is seeing results from its $3.2 billion investment in digital transformation. Premium digital banking Mobile banking Nomi personal finance apps Personetics RBC

Digital Banking And Branches Aren’t An Either/Or Proposition

PYMNTS

Banks are not just competing for customer engagement and retention — they are also vying for funding and resources as they overhaul their infrastructure and banking tools. The latest Digital Banking Tracker examines how legacy institutions stay competitive with challenger banks.

FSS Digital Banking Case study

Mobile Payments Today

Engaging customers over digital channels has become table stakes in financial services, A leading bank in India has deployed Mobile Pay, our Digital Banking Solution, to build an expansive partner ecosystem to engage customers and achieve services differentiation

Digital Bank Monzo Jumps Into Lending In The UK

PYMNTS

Monzo , an online bank out of London, has added loans to its menu of services, the Financial Times reported on Thursday (Aug. can apply for loans as the online bank advances its efforts toward profitability. . banking market through a partnership with Ohio-based Sutton Bank.

Digital banking? Isn’t that just an app?

Chris Skinner

I meet a lot of senior executive teams of large banks. I talk to them about the fintech world of change and how millennials are reshaping banking, from Stripe, started by two … The post Digital banking? Digital Bank Grid OpinionSome are visionary, many are committed and a large number understand that life is changing. Few understand how.

Are you really a digital bank? (just shake it off)

Chris Skinner

I was in a conversation the other day where someone asked me how I can tell if a bank is really trying to be a digital bank or just a bank. I … The post Are you really a digital bank? Digital Bank Grid OpinionOff-the-cuff I immediately said that I have a litmus test to work out the answer to that question. just shake it off) appeared first on Chris Skinner's blog.

InstaReM CEO On Why They Want A Digital Banking License

PYMNTS

InstaReM is currently preparing to apply for one of five (two retail, three wholesale) digital banking licenses that the city-state of Singapore announced it would be issuing earlier this month. Digital Banking ecosystem financial services Innovation InstaReM license Main Feature News

The growing interest in digital banks

Insights on Business

With few exceptions, “banking hours” are becoming 24/7/365, or whenever and wherever a customer wants to do banking. Traditionally, banking was a conservative industry with relatively high barriers to entry. Banking products and services were defined and controlled by the bank.

Digital Bank in one picture

Chris Skinner

I spent a day working on a bank’s digital strategies the other day. So what this … Digital Bank GridIt was a fascinating day and, as is the norm with some of these offsites, a scribe artiste was scribbling my ramblings on a chart.

Digital banks are 35+ times more productive than traditional banks

Chris Skinner

I’m launching the new book Digital Human in New York on the evening of April 12. BTW, I’ve also heard a lot of people have been frustrated that Amazon cancelled their pre-orders of the new … The post Digital banks are 35+ times more productive than traditional banks appeared first on Chris Skinner's blog. Blog Index Case Studies Chris Skinner Digital Bank Fintech Future Grid Inclusion Innovation Mobile Numbers Opinion Payments Technology

We need to launch a digital bank? OK, here’s $3 billion!

Chris Skinner

There were then several other announcements that caught my attention about Citibank and Bank of America investing similar amounts in digital. The question it prompted is: why are … The post We need to launch a digital bank? Digital Bank Fintech Grid Opinion

Why Chase decided to drop digital-banking app Finn

Bank Innovation

JPMorgan Chase's millennial-friendly digital banking app Finn is shutting down, just one year after it rolled out nationally. Daily Post 1 Exclusive Premium Retail Banking Sales & Marketing Aite Group challenger bank Cornerstone Advisors Digital Banks Finn JPMorgan Chase

Deep Dive: How AI And Automation Are Changing Digital Banking In India

PYMNTS

Many Indian consumers are making their first forays into the digital financial ecosystem as demonetization continues to shrink the country’s age-old reliance on cash. Chatbots, AI and Personalization in Indian Banking. Fraud Protection and the Future of Digital Banking in India.

Teenager-Focused Digital Bank Wins Fresh Funding

PYMNTS

But let’s not forget the role of the teenager in digital retail, financial services and transactions. According to a report on Tuesday (May 28), a France-based “digital banking startup aimed at teenagers” called Pixpay has raised nearly $3.5. Banking App.

Community Bank Acquires SMB Digital Bank Seed

PYMNTS

Community financial institution (FI) Cross River Bank is acquiring Seed , a small business (SMB) digital banking company, reports in Reuters said on Monday (June 24). Reports noted that the bank declined to disclose financial details of the takeover.

Digital banking made strong gains in UK market during first half of 2019

Mobile Payments Today

Digital banking is growing rapidly in the U.K., as challenger banks are gaining share among non-millennnial users and winning over customers with strong customer service.

Bank reincarnation: the best way to become a digital bank

Chris Skinner

Like a Phoenix from the ashes, a bank needs to die and reincarnate itself to survive this digital revolution. This theme … The post Bank reincarnation: the best way to become a digital bank appeared first on Chris Skinner's blog. Digital Bank Future Grid Innovation OpinionThere was an interesting discussion at #Money2020 about Business Reincarnation.

Citizens Debuts Digital Bank

PYMNTS

Citizens Financial Group announced the launch of its nationwide, direct-to-consumer digital bank. Over the last several years, direct bank deposits have grown six times faster than deposits at traditional banks as consumers have sought innovative new ways to save money,” said John Rosenfeld, president of Citizens Access. “To The industry is seeing a renewed interest in CDs as consumers turn their attention to digital-savings’ products,” Rosenfeld said.

 In Europe, Digital Banking And APIs Eye Banking As A Service

PYMNTS

In France, Treezor , a banking as a service platform, said this week that has deployed the Thales SafeNet Data Protection On Demand solution for what is being billed as “safety across the entire payment chain, from tier one banks and neo banks to crowdfunding organizations,” as noted in a release.

Today In Data: Digital Banking Cybersecurity

PYMNTS

With new risks come new solutions, and banks are taking this approach to data security: They are adopting technologies such as biometric authentication to protect sensitive information. billion: The projected size of the global banking cybersecurity market by 2026.

UK Digital Bank Monzo Crosses Pond To US

PYMNTS

Digital bank Monzo, based in the United Kingdom, is crossing the pond. The company traces its genesis to 2015 and is among a pantheon of “neobanks” that focus on digital offerings. “We banking license, Blomfield told the newswire, coming into the U.S.

Hollywood’s Newest Special Effect, Digital Banking?

PYMNTS

From phone support and mobile apps to ATMs and chatbots — when it comes to customer service, banking automation has come a long way. However, the one missing piece that these automated banking features lack is a real human being to interact with during a transaction.

InstaReM Looks To Apply For Singapore Digital Banking License

PYMNTS

While it gears up to apply for a digital banking license in Singapore, cross-border payments firm InstaReM is reportedly seeking lending business partners. It processes billions of dollars a year for payments institutions, retail users and banks worldwide.

Digital Banking Demo Sessions 2019

BankThink

Top technology innovations in digitla banking you need to see. Digital Banking Demo Sessions 2019 Digital banking Digital transformation Digital payments

Cuscal On Digital Banking Done Down Under

PYMNTS

In banking and payments architecture, especially in the digital realm, a corollary might be “form and function co-exist, and should be flexible enough to change rather quickly.”. That’s partially due to a trust factor, which is conspicuously lacking in traditional banking.

Standard Chartered Expands Africa Digital Bank Initiative

PYMNTS

31) that it has kicked off the second phase of its initiative to roll out a digital-only retail bank in Africa. The company said the expanded rollout comes on the heels of the successful launch of its first digital retail bank in Côte d’Ivoire (CDI) last year.

RBS Chooses Leader For SMB Digital Bank Mettle

PYMNTS

Royal Bank of Scotland (RBS) is pressing forward with its digital-first bank, targeting small and medium-sized businesses (SMBs), and reports have said the financial institution (FI) has chosen a leader for that initiative.

The Evolution Of Digital Banking Security

PYMNTS

Digital banking customers are looking for an institution that can keep their data safe, with security mishaps creating the possibility that they can move to other apps. 90 percent: The portion of consumers whose top online activity is personal banking. Today In Data Commerce data Digital Banking fraud mobile apps money laundering News payments personal banking Retail Security Smartphones Today in Data

US Bank’s White: Digital banking is now more than DIY

Bank Innovation

As digital banking goes mainstream, banks are recognizing that a mobile app that lets customers carry out day-to-day tasks isn’t enough. “Digital and do-it-yourself (DIY) are the basic […].

US 188

First Three Digital Banking Licenses Awarded In Hong Kong

PYMNTS

Hong Kong has issued its first digital banking licenses, in a move toward strengthening the city’s financial sector, according to reports. The introduction of virtual banks in Hong Kong is a key pillar supporting Hong Kong’s entry into the Smart Banking Era.

Stackin’ Scores $4M In Funding, Adds Digital Banking Features

PYMNTS

Startup Stackin’ announced it has raised $4 million in Series A funding and is also launching no-fee checking and savings in conjunction with the virtual Radius Bank, according to reports. Investments Digital Banking financial services funding Investment News Stackin’ virtual banks What's Ho

Anglo-Gulf Trade Bank Gets First Digital Banking License From Abu Dhabi Global Market

PYMNTS

Anglo-Gulf Trade Bank (AGTB) was awarded the first digital banking license and Category 1 status from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), Islamic Business & Finance reported on Wednesday (Sept.

Digital Banking vs Digital Experience

Strategically Speaking

And yes, I have an app for each of my credit cards and my bank. I like to see how a company represents itself digitally. Mobile Banking banking digital banking digitalOK … let me begin by identifying myself.

Cross River And Cloud Payment Co RS2 Form Digital Banking Partnership

PYMNTS

Cross River Bank, a company that provides banking services for FinTechs, has partnered with payments processor and tech provider RS2 Software to provide an improved payment and digital banking experience for its customers, the companies announced.