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

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 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.

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 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

FinTech or TechFin (speech transcript)

Chris Skinner

I recently gave a speech where the title was FinTech or TechFin? Everyone had been give a copy of my book Digital Human, and the speech was transcribed. Here it is: FinTech or TechFin? Digital Bank Fintech Future Grid Opinion Presentations

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

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

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.

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). Its takeover of Seed strengthens its position in the small business FinTech market.

Banks and FinTech Partnerships: a Clash of Extremes

Chris Skinner

A few years ago, I posted a guest article from Philippe Gelis, co-founder and CEO of FX firm Kantox, on Why FinTech Banks will rule the world. Digital Bank Fintech Grid

The new FinTech bank

Chris Skinner

The requests would get prioritisation and be delivered in sequence over time, sometimes a very long … The post The new FinTech bank appeared first on Chris Skinner's blog. Digital Bank Fintech Grid

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.

Time for a global FinTech platform?

Chris Skinner

I find it interesting when I read perspectives on FinTech, money and banking. Going digital, getting rid of branches, becoming cashless seem to be the main themes, and yet this ignores that every part of the world is different.

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.

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.

Women in FinTech … yes, we care

Chris Skinner

So, I blogged last week about women in FinTech and whether we care, and got lots of replies … from women … who said yes, we care. One interesting insight is that … The post Women in FinTech … yes, we care appeared first on Chris Skinner's blog.

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.

Facebook, fintech velocity, race for deposits: Digital Banking's big ideas

BankThink

Facebook's plans to launch its Libra cryptocurrency dominated much of the discussion at American Banker's Digital Banking conference last week, but attendees also debated what big tech company might strike next and what future digital innovations are in store.

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.

Movers and Shakers: Notable March Hires in Fintech and Digital Banking

Bank Innovation

Growth is the name of the game for this month's notable hires in digital banking and fintech. On one hand, a major FI like Spanish bank Santander hired a former Google executive to create new products, while smaller fintechs are opening up shop in new markets to drive growth.

Biggest changes in digital banking are just ahead

BankThink

Fintech Mobile banking Mobile technology Mobile payments Digital banking Square Google PayPalMany might think that the technological disruption of the industry is already underway, but it’s likely that the most significant restructuring is still yet to come.

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.

Are banks serious about fintech?

Chris Skinner

I’m often asked how I got into FinTech. Back in the day, it wasn’t called FinTech. It was just boring old tech in banking. Interestingly, for almost a quarter century, tech … The post Are banks serious about fintech? Digital Bank Fintech Grid Opinion

Women in FinTech … yes, we care

Chris Skinner

So, I blogged last week about women in FinTech and whether we care, and got lots of replies … from women … who said yes, we care. One interesting insight is that … The post Women in FinTech … yes, we care appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid OpinionInteresting that there were not so many replies from the other gender, but hey what do you expect?

Digital banks are Copernicus banks (incumbents are with the Flat Earth society)

Chris Skinner

Most of the time I was getting exasperated because the banks wouldn’t take on the big projects, like the mortgage process, as it went across too many divisions. Yea, they may be valid to get a 5% cost reduction in the banks bottom-line, but they were dull.

CBW Bank sharpens focus on digital banking, fintech collaboration

Mobile Payments Today

Suresh Ramamurthi, chairman and CTO of CBW Bank, opened the annual Bank Customer Experience conference with a keynote speech detailing his financial institution's unique journey

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.

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

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.

$41 Trillion in Mobile payments – China tech target digital banking

Daily Fintech

In the initial days of my discussions about China Fintech, I would often praise China’s Fintech businesses as perhaps the largest in the world. Fintech is used as a business model by lifestyle firms in China and broadly Asia. Image Source. $41

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.

Fintechs, digital banks reach out to workers impacted by government shutdown

Mobile Payments Today

Fintech companies, mobile banks and others are granting waivers, extended payments and other services to help workers impacted by the government shutdown

Around the World in Digital Banking & Fintech: Realtime Payments, Blockchain and Wearables

Bank Innovation

There is a lot going on in fintech and digital banking around the world, not just the U.S., where Bank Innovation is based. The editorial team is compiling a biweekly list of three events that we believe will make waves in the fintech and digital banking landscape. Malaysia switches to realtime payments Malaysian banks went live […].

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.

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. FinTech. The investment was made via Bó, the digital bank it is launching later in 2019. digital-only bank that is exploding.

The difference between FinTech and TechFin

Chris Skinner

Banks that get digital and banks that don’t; fintechs that want to change everything and fintechs that don’t; digital currencies to replace fiat currencies and fiat currencies that are going digital; destruction, disruption and disappointment; and more. It just shows the world of … The post The difference between FinTech and TechFin appeared first on Chris Skinner's blog. Digital Bank Fintech Grid

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.

Digital Bank or FinTech? You’re not a digital bank…

Banking 4 Tomorrow

If you listen to the Breaking Banks AM Radio Show today (also available via stream and podcast) you’ll hear a spirited rematch of the Great Digital Banking Debate that Michal Panowicz and I had on Twitter a few weeks ago. The debate concluded with a split decision – Twitter declaring the FinTech team the winner, […].

The battles for the future of fintech

Chris Skinner

The battles for the future of fintech The future of financial … The post The battles for the future of fintech appeared first on Chris Skinner's blog. Chris Skinner Digital Bank Fintech Future Grid Opinion PaymentsWhilst in New Zealand, I had an interview with the country’s most respected business paper: National Business Review. The subsequent article is behind a paywall but, as they sent it across to me, I feel it’s worth sharing here.

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 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.

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.