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 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 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

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.

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.

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.

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.

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

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.

The digital bank vs digital banking

BankNXT

Traditional banks should feel more threatened than they currently do, says Sudhir Kesavan, who examines the difference between digital banks and digital banking. The digital bank vs digital banking on BankNXT.

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.

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.

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.

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.

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.

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

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

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.

Barclays Rivals Goldman’s Marcus With Digital Bank

PYMNTS

consumers a low-cost, digital-only bank that will directly compete with Goldman Sachs ‘s Marcus brand. online bank, which already offers credit cards, savings and loans to 13 million customers. Barclays is ready to offer U.S.

Conversational AI Firm Kasisto Partners with U.A.E. Digital Bank Liv

Bank Innovation

United Arab Emirates-based digital bank Liv on Wednesday launched its virtual assistant Olivia, which was built by conversational AI company Kasisto. Olivia, a play on the bank’s name Liv, can check balances and give spending insights through text and the bank’s mobile app.

Small Businesses Draw The Line On Lack Of Digital Banking

PYMNTS

Europe’s largest banks have landed in the hot seat, thanks to a recent Fortytwo Data report that found 90 percent had been sanctioned for money laundering activities. For example, one-third said they are unable to sign documents digitally, even though most agree it is a useful feature.

Millennials are digital banking savvy—but they want more from banks

Accenture

Just how digital are Millennials? Retail banks are asking this question to tailor banking customer experiences to a digital savvy generation with growing earning power. While Millennials are digital banking devotees, banks should not assume that’s all they’re about.

Top Digital Banking Players Ranked

PYMNTS

The digital banking industry is heating up — and fast. The tracker provides the latest news, research and expert commentary from the FinTech and consumer banking space, along with profiles of dozens of companies in the industry. Digital Banking What's Hot What's Trending

Digital Bank Tandem Buys British Fintech Pariti

Bank Innovation

based digital bank Tandem closed a deal to acquire fellow British fintech Pariti, a personal money management app in the country with about 95,000 registered users. Exclusive Mobile Payments acquisitions Harrods Bank neobanks Pariti Tandem UK fintech

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.

BBVA-Backed Digital Bank Azlo Launches in the U.S.

Bank Innovation

Azlo, a digital banking startup geared towards freelancers and the self-employed, has formally launched in the U.S., Exclusive Online Startups Azlo BBVA digital banking online banking startups

Temenos Sees ‘Backbone’ for Digital Banking in AI

Bank Innovation

In preparation for the future of digital banking, Temenos, the Switzerland-based banking software provider, appears to be putting its money on artificial intelligence. Emily Steele, president for North America at Temenos, told Bank Innovation […]. Artificial Intelligence Corporate Exclusive Innovations Premium Retail Security Uncategorized artificial intelligence Deloitte digital banking machine learning Temenos

A new digital bank needs a new customer service experience

Insights on Business

Banks continue their digital transformation journey to create new business models to satisfy today’s demanding customers. How do banks prepare for this new reality? For Bradesco, a large Brazilian bank, NEXT is the answer. Next is a digital bank, completely disassociated from the Bradesco brand. Next has access to all of Bradesco’s ecosystem, ATMs, call center, internet banking. –> Explore IBM Banking and Financial Markets Solutions.

Citigroup Eyes Creation Of National Digital Bank

PYMNTS

Citigroup is gearing up to launch a digital consumer bank that will be national in scope and will arrive within the next three years. Citing Citigroup Chief Financial Officer (CFO) John Gerspach, Reuters reported the executive said at an investor conference that the financial company is “laying the groundwork for having a national digital bank. Digital Banking Citigroup consumer banking Merchant Innovation News Technology What's Hot

U.K. Digital Bank Monzo Eyes Expansion, Tests SMB Accounts

PYMNTS

Monzo, a digital bank out of London, wants to expand past just mobile-based personal banking customers to small and medium-sized businesses (SMBs). . The bank said it’s going to figure out what it needs to feature and what it needs to prioritize during the test period.

The Acutely Digital Bank

Celent Banking

A few months ago there was a question posed on Twitter which sparked a pretty intense debate : “What makes a bank a digital bank?” How far do incumbent banks have to go in order to adjust to the new age of digital financial services? At a very basic level, most bankers understand the importance of digital. Many started digital transformation years ago, but the strategies have often been too narrowly focused to make a significant impact.

How HSBC Uses AI To Boost Its Digital Banking Immune System

PYMNTS

Banks must have constant insight into potentially suspicious activities to stay ahead of fraudsters. These solutions can be implemented to review expansive volumes of bank transactions and data points to help banks detect questionable activities and broader patterns of potential fraud.

Digital Banking Startup Loot Raises $2.9M Series A

Bank Innovation

Another digital banking startup has raised funding this week, this time to expand a current account offering aimed at students and millennials. Capital Exclusive Mobile capital digital banking mobile app neobanks startups

U.S. Bank Looks to Expand, But Not with a Digital Bank

Bank Innovation

Digital banks may be sprouting up all over the banking world, but don’t look for one from U.S. The bank is national in terms of […]. Exclusive Features Mobile Online Operations Premium Retail digital banking Finn JPMorgan Chase PNC u.

Look Beyond Technology for Better Digital Banking, Fiserv Says

Bank Innovation

EXCLUSIVE—With mobile banking services offered at the majority of financial institutions, innovating the digital space is becoming more important in the fintech ecosystem, especially for smaller players like regional banks or credit unions.

RBS Buys 25 Percent Stake In Loot As It Readies Digital Bank

PYMNTS

Royal Bank of Scotland (RBS), which is gearing up to launch a new digital bank, has acquired a 25 percent stake in Loot , a U.K. According to a report in Financial Times , citing Royal Bank of Scotland , Loot offers customers a current account and pre-paid debit card.

Prospects for More De Novo Digital Banks Come Into Clearer Focus

Bank Innovation

Get ready for more banks. Digital ones, that is. New data shows that consumers -- and financial institutions -- are more inclined toward greenfield digital banks.

The 411 On The Digital Banking Evolution

PYMNTS

As the banking shift brought about by the rise of FinTech startups continues to disrupt the traditional brick-and-mortar banking experience to make it seamless, convenient and richer, we’re seeing all sorts of interesting partnerships and technological adoption.

Alior, solarisBank, Raisin And Mastercard Partner On European Digital Bank

PYMNTS

The Poland-based Alior Bank is teaming up with solarisBank , Raisin and Mastercard to roll out a digital bank in Europe open to all European Union residents. According to a report in BankingTech , the new digital bank is slated to launch in the fourth quarter of this year and will be a collaboration between all of the companies. Its first partner bank in the U.K.

Building digital banking relationships

Matt Wilcox Pro

WITH THE CONTINUED move to digital banking, there looms a danger of losing the personal touch. That doesn’t bode well for an industry built on strong relationships. Contrary to what some may think, there’s no reason that automation cannot promote human connectedness.

How Facebook Became Fast Friends with Digital Banks

Bank Innovation

EXCLUSIVE - Before social media platform Facebook became a popular channel for digital banks to offer banking features to its customers, let’s not forget that FB was first and foremost an important advertising tool for banks to reach a younger audience.

The Definitive Guide to Digital Banking Platforms

Dataconomy

Did you doze off and miss the digital banking revolution? If so, here is your indispensable guide to choosing a digital banking platform The innovative nature of the financial services industry calls for constantly introducing new solutions to the market.