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. 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. Digital Bank Fintech Future Grid Opinion

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

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 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

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.

What Digital Banks Are Doing Right

PYMNTS

The past several years have been good times for digital banking players popping up to challenge traditional brick-and-mortar financial institutions for market share, but recent months have accelerated that trend into overdrive.

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.

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.

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 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.

Advances in Digital Banking

Mobile Payments Today

The world of banking continues to change and evolve

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.

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. Developments Around The Cloud Banking World. British FI Lloyds Bank is moving forward on its digital journey with the help of a few partners.

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.

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

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.

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.

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 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.

Digital Banks Solid In Latest Provider Rankings

PYMNTS

App-based digital challenger banks have been solidifying and expanding customer bases ever since COVID came to town. And while PYMNTS’ latest Provider Ranking of Digital Banking Apps shows consistency at the top, brands are vying for position in the new digital banking boom.

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

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 banks, payments startups face first major test in virus

Bank Innovation

Fintech startups looking to upend how Americans do their banking are facing their first major test as interest rates fall and fearful consumers seek safety at traditional banks. mobile payments companies founded after the 2008 financial crisis, and digital banks including Chime Inc.

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

Forrester’s Clarke: Digital banking is not self-service

Bank Innovation

Banks are rushing to grow digital capabilities, but they are neglecting the digital enablers that support the overall customer experience. Indeed, many customers did not have a contextually relevant experience with their bank, which diminished overall loyalty.

BBVA Teams With Google Pay To Offer Digital Bank Accounts

PYMNTS

BBVA USA is collaborating with Google to offer consumers a digital bank account through Google Pay. The Alabama-based bank holding company said the partnership is key to its strategy? of growing the bank throughout the U.S.

Google 224

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

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.

Deep Dive: Strategizing Transparent, Holistic Digital Banking Transformations

PYMNTS

Banks do not always have the budgets or resources to craft cutting-edge online and mobile experiences, although they can no longer afford to put off digital transformations. One study recently determined that the number of digital banking users is expected to exceed 3.6

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

Chime outages illustrate complexities of digital banking

Mobile Payments Today

Chime Bank is recovering from its third system outage since July, and this most recent incident is serving as a wake-up call for many in the industry about the vulnerabilities of managing critical financial services in a digital-only environment

Millennial-Focused Digital Bank Empower Finance Raises $20M

PYMNTS

San Francisco-based Empower Finance, a mobile banking app aimed at helping millennials save wealth, has raised $20 million in a Series A funding round led by Defy Ventures and Icon Ventures, according to a report. The digital banking field is fraught with competition.