Digital Banking for the Poor

Chris Skinner

I have a few friends around the world that I pick up on, and The World Bank and CGAP are amongst that crew. Therefore, when I saw that Peter Zetterli, senior financial sector specialist with CGAP, was blogging about financial inclusion I couldn’t but help reach out to him and … The post Digital Banking for the Poor appeared first on Chris Skinner's blog. Digital Bank Future Grid Numbers

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. I agree with his content, just not his … The post Customers don’t want digital banking appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid Opinion

Advances in Digital Banking

Mobile Payments Today

The world of banking continues to change and evolve

Digital Banking Apps Cashing In

PYMNTS

Whatever nomenclature you prefer — neobank, challenger bank, digital bank — the common denominator is app-based convenience and the power of algorithms to help manage and save that has people downloading these apps like mad. 1 again is challenger bank Chime , followed at No.

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 Bank GridNot formal reviews, but fast meetings with the business people, designers, developers and even audit and compliance all around the table.

Digital Banking Gaining Scores Of New Users

PYMNTS

Migration to mobile and digital banking ramped up during the pandemic. It’s one of numerous revelations in PYMNTS’ Leveraging The Digital Banking Shift Report , a collaboration with Feedzai , based on a survey of nearly 2,200 U.S. percent of mobile banking users and 53.1

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. They have a leadership team who are passionate about digitalisation, and see it as a core raison d’etre of the bank’s future. Not just … The post The CEO and Chair make digital banking work appeared first on Chris Skinner's blog. Digital Bank Grid

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. This is something I’ve found quite rare in most banks, as the retail customer is … The post Digital banks are led by clear customer-obsessed principles appeared first on Chris Skinner's blog. Digital Bank GridNot the shareholder, the investor, the quarterly bonus, the dividend yield or the cost-income ratio. The customer.

Juniper Research sees digital banking poised for growth

Mobile Payments Today

Digital banking is poised to take off as incumbent banks move much of their business to mobile channels to compete against a new generation of digital-only startups

Digital Banking Apps Ranked And Ready For 2021

PYMNTS

Digital banking took off this year as pandemic lockdowns and disrupted routines led people to seek better, faster, more personalized forms of banking. There are two notable changes atop this new Provider Ranking of Digital Banking Apps.

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.

Advances in Digital Banking

Mobile Payments Today

The world of banking continues to change and evolve

Little Bó peeps … creeps … and sleeps … why big banks fail at digital banks

Chris Skinner

In the latest example of a bank that couldn’t hack the digital bank market, RBS gave up on Bó last week. It surprised me as the bank only launched last November, to a fanfare of £100 million investment and the acquisition of the start-up they had been co-funding, Loot. The … The post Little Bó peeps … creeps … and sleeps … why big banks fail at digital banks appeared first on Chris Skinner's blog. Digital Bank Grid

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. I always remember the comment … The post Digital banks look more like Big Tech and vice versa appeared first on Chris Skinner's blog. Digital Bank Grid

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.

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

Citibank Brings Hong Kong Digital Banking Platform Out Of Beta

PYMNTS

The company touts the project as a new way to get people into digital banking. Citibank Hong Kong has shown strong determination in the development of digital banking in recent years,” Citibank Hong Kong Consumer Business Manager Lawrence Lam said in the release.

Virtual Account Numbers Facilitate International Digital Banking

PYMNTS

To serve eCommerce companies’ needs, as transactions continue to shift online, banking needs to go digital, too. As has been profiled in this space previously, virtual IBANs serve as reference numbers issued by banks.

Lumin Partners With JAXFCU On Digital Banking Integration

PYMNTS

JAXFCU set out to find a digital services provider that would fully integrate with other offerings, and it found an ideal solution in Lumin Digital, which provides "seamless integration" that enables members of the CU to utilize both mobile and web channels.

Digital Banking Apps Play Chutes And Ladders In Latest Provider Ranking

PYMNTS

Automation, personalization and the promise of real-time (or at least near real-time) payments all add to the gravitational pull that banking apps exert on the psyche. An even bigger gainer is right behind with the Current mobile banking app rising two chart positions to snap up No.

Digital Banking Apps Vs The Establishment

PYMNTS

Dubbed “challenger banks” for shaking up the status quo of banking as we’ve always known it, digital banks with awesome apps are the FinTech alternative to more staid financial institutions whose roots go deep, but may also seem a bit dazed by the pace of tech change to the their sector. The Top 5 Digital Banking Apps. Taking the coveted number three spot is digital bank Monzo , hailing from the U.K.

PSCU: Digital Banking Helps Credit Unions Compete With Larger Banks

PYMNTS

The pandemic is reshaping banking. The conversation came against a backdrop where, as noted in a recent PYMNTS Tracker , a majority of Americans did their banking online last year. They can do it all much more conveniently because of the CU’s investment in that digital space.”.

Digital Banking App Rankings Get Into A Groove

PYMNTS

We like the action, of which there is no shortage in the digital banking space. Legacy names and newcomers alike are ranging freely across the forming digital banking landscape, with digital anywhere access portals in their pockets — the smartphone.

Philippine Government Considers Digital Bank Limits

PYMNTS

The government of the Philippines is considering limiting the number of digital banks that operate in the country, Bloomberg News reported on Thursday (Oct. Banks around the world have been accelerating the adoption and promotion of digital banking as a result of the COVID-19 pandemic.

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. The summary I like so much that I thought it was worth sharing here.

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. Digital Bank Fintech GridI recently had a chat with Monica Murthy of Empire Startups. Here’s the low-down.

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. Data: 31 percent: Share of consumers who use mobile banking apps more often than other apps. 16 percent: Estimated CAGR of the global digital banking market through 2024.

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. In a second-quarter earnings call on Thursday, the bank reported that year-over-year digital adoption (desktop and mobile) increased 52 percent and 90-day active mobile users increased 17% from one year ago to 4.1 Premium digital banking Mobile banking Nomi personal finance apps Personetics RBC

Majority launches digital banking products for immigrants

Bank Innovation

Majority, a digital banking platform aimed at immigrant communities, launched to U.S. Carousel Customer Experience Product Design Retail Banking Majority Nova Credit Remitly Visaconsumers this week after a four-month beta test. To expand its reach, Majority is relying on two drivers: physical meetup spaces and brand ambassadors, since it has no branches. “If If you want to build a successful business focusing on these communities, you […].

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.

First Horizon Works With NCR For Digital Banking Platform

PYMNTS

Tennessee-based First Horizon Bank has moved its digital platform to the NCR D3 program, which a press release says will offer more seamless solutions. Plus, leveraging the cloud to deploy digital banking has allowed us to introduce updates more often and innovate faster.

US Bank deploys smart assistant to boost digital banking

Mobile Payments Today

US Bank is deploying natural language processing and AI-based technology to move more of its retail banking business onto the mobile banking app

The Race To The Cloud: Will Digital Banks Win?

PYMNTS

Financial institutions (FIs) are feeling the pressure to offer increasingly personalized, digital-first services to keep customers satisfied. Crafting the seamlessness customers want means FIs are overhauling their digital infrastructures to enable access to fast, interactive and engaging banking experiences. Developments Around The Cloud Banking World. British FI Lloyds Bank is moving forward on its digital journey with the help of a few partners.

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

Four digital banking trends to watch in 2020

Mobile Payments Today

The growing phenomenon of direct, digital banking and Silicon Valley's entry into the payments business are posing a series of challenges to traditional banking institutions. NCR's Doug Brown explores the landscape for 2020 to determine how these trends will impact the global banking business moving forward