Chris Skinner
FEBRUARY 19, 2019
I’ve had a lot of conversations with bankers and technologists, and realised something recently. That realisation is a simple but important one, and it is this: dealing with technology is very different to dealing with money; furthermore, dealing with money through technology is very different to dealing with technology through … The post Are you in banking or technology?
Payments Dive
FEBRUARY 19, 2019
The rise in consumer payment technologies raises questions about when will the business-to-business payments model see a similar level of transformation.
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Chris Skinner
FEBRUARY 19, 2019
I’m just reading a new book recommended by a banking friend AI Superpowers: China, Silicon Valley, and the New World Order by Kai-Fu Lee, and the opening got me thinking. Kai-Fu refers to the Google AI machine AlphaGo that beat Ke Jie, the world’s best Go player, as a sputnik … The post AI wars appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 19, 2019
The 12 startups demoing to try to win the “best in show” award at Bank Innovation Ignite have been unveiled. The startups are:[link] Avocado Payments, Budgit Inc., Community Capital Technologies, Denizen Financial, Diro Inc., Exagens Corp., Fintel Labs, iGTB, JUDI.AI, KapitalWise, OpenDoor Securities, and Operant.AI Six of the startups come from INV Fintech, this website’s sister […].
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Chris Skinner
FEBRUARY 19, 2019
Things we’re reading today include … Estonia shuts Danske Bank branch at heart of money laundering saga Chinese customers accuse Spanish bank BBVA of racism The Biggest Threat To Banks Isn’t Fintech Or Big Tech–It’s The Government Metro Bank tops latest official bank service league table Cost of Brexit to … The post Things worth reading: 20th February 2019 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
FEBRUARY 19, 2019
NACHA, the steward of the ACH Network, announced Tuesday (Feb. 19) that last year was a milestone year for the ACH Network with payment volume climbing to close to 1.5 billion payments. In a press release , NACHA said it is the fourth year in a row that the ACH Network added more than 1 billion new payments. “The results for 2018 make clear that the ACH Network is vibrant and continues to be a vital component of the nation’s economic engine,” NACHA Chief Operating Officer Jane Larimer said in th
Bank Innovation
FEBRUARY 19, 2019
The year 2018 was a great year for fintech funding across the globe. This is true not only because the total funding was high, but also because there were more investors in fintech than in years before. In fact, a new report by CB Insights showed there were about 2,745 investors in 2018, representing a five-year high. […].
Chris Skinner
FEBRUARY 19, 2019
Things we’re reading today include … Move over neon Monzo, now there’s a bank card that miaows Do we need a global technology regulator for financial services? Mexico pushes mobile payments to help unbanked consumers ditch cash German regulator bans shorting of Wirecard shares HSBC warns on China, Britain slowdown … The post Things worth reading: 19th February 2019 appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 19, 2019
With faster payments functionality beginning to take off in the U.S., the outlook of how accelerated transaction times might impact B2B payments and, more specifically, the issue of late payments to suppliers, remains unclear. When NACHA first released its Same Day ACH capability, only about 6 percent of the first 2 million transactions made in the service’s first 11 days were B2B payments.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Chris Skinner
FEBRUARY 19, 2019
Things we’re reading today include … Estonia shuts Danske Bank branch at heart of money laundering saga Chinese customers accuse Spanish bank BBVA of racism The Biggest Threat To Banks Isn’t Fintech Or Big Tech–It’s The Government Metro Bank tops latest official bank service league table Cost of Brexit to … The post Things worth reading: 20th February 2019 appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 19, 2019
Brexit may dominate the headlines when it comes to the United Kingdom, but FinTech funding proceeds apace, and financial backers show a continued sanguine attitude about the space. In news that came from across the Pond, two U.K.-based FinTechs said they have garnered more than 200 million pounds. As reported, iwoca , a small business lender focused on online lending (with loans up to 250,000 pounds) said it raised 150 million pounds in debt and equity financing (where the division was 20 millio
Chris Skinner
FEBRUARY 19, 2019
I’m just reading a new book recommended by a banking friend AI Superpowers: China, Silicon Valley, and the New World Order by Kai-Fu Lee, and the opening got me thinking. Kai-Fu refers to the Google AI machine AlphaGo that beat Ke Jie, the world’s best Go player, as a sputnik … The post AI wars appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 19, 2019
Since last year, when Canada legalized recreational pot in full, the nation became a kind of country-sized lab for how that new business would play out. That market could reach as much as $5.1 billion in annual sales by 2020, according to one estimate – though some predictions are higher, especially ones that include spending on accessories and growing supplies.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
Chris Skinner
FEBRUARY 19, 2019
Things we’re reading today include … Move over neon Monzo, now there’s a bank card that miaows Do we need a global technology regulator for financial services? Mexico pushes mobile payments to help unbanked consumers ditch cash German regulator bans shorting of Wirecard shares HSBC warns on China, Britain slowdown … The post Things worth reading: 19th February 2019 appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 19, 2019
While users of the troubled Quadriga CX cryptocurrency exchange remain unable to retrieve millions in funds, a startup backed by mainstream companies such as Goldman Sachs says they’re able to offer some protection. BitGo Inc., which provides custodian services on more than $2 billion in digital assets, said it has obtained a policy of as […].
Chris Skinner
FEBRUARY 19, 2019
I’ve had a lot of conversations with bankers and technologists, and realised something recently. That realisation is a simple but important one, and it is this: dealing with technology is very different to dealing with money; furthermore, dealing with money through technology is very different to dealing with technology through … The post Are you in banking or technology?
PYMNTS
FEBRUARY 19, 2019
In the digital age, quick service restaurants (QSRs) have a host of technologies at their disposal to remove friction in the ordering process and drive repeat visits, such as self-service kiosks and mobile apps. Consumers have generally had strong positive experiences with digital technology. The PYMNTS Restaurant Readiness Index found that 62 percent of them said such features would make them more likely to visit QSRs in the future.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
Ron Shevelin
FEBRUARY 19, 2019
Big Tech isn't a threat to banks--it's an opportunity. Big Tech will become a new distribution channel, a new battleground for banks to compete on.
PYMNTS
FEBRUARY 19, 2019
Mexico’s new government, led by President Andres Manuel Lopez Obrador, is setting its sights on financial technology to get the country out of poverty. According to a report from Reuters , the Mexican government recently announced plans to make financial services more affordable in a country where more than half of the population does not have a banking account, otherwise known as the unbanked.
Bobsguide
FEBRUARY 19, 2019
There is a growing number of women moving into the fintech sector, but is this happening quickly enough? The ratio of female to males in senior positions, such as CEOs, remains low. In a male-dominated sector, is enough being done to encourage women into fintech? Do women see the opportunities a.
PYMNTS
FEBRUARY 19, 2019
One day — maybe one that has already happened for some PYMNTS readers — we might look back with fondness and nostalgia on that time when chargebacks stood as the main worry merchants and other organizations faced when it came to fraud and risk. Chargebacks are still a problem, of course, but fraud has morphed into this multi-tentacled threat that is constantly on the prowl for any hole or weak spot that offers criminals the chance to get into your systems.
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
Payments Source
FEBRUARY 19, 2019
Crooks are using techniques that move quickly, making AI a good bet when searching through many layers of transaction data, according to Jie Wu, a director at GoodData.
PYMNTS
FEBRUARY 19, 2019
Bitcoin jumped to a one-month high as it hit $3,727 this weekend — it’s highest level since Jan. 19. Its 24-hour trading volume also rose to above $8 billion for the first time since Dec. 20. As CoinDesk explained, the cryptocurrency’s boost indicates a bearish-to-bullish trend change, but it is still stuck in a symmetrical triangle. To break above the upper edge of the triangle, bitcoin must make it past $3,760, which is expected to happen sometime this week.
Payments Source
FEBRUARY 19, 2019
With real-time payments advancing, processors need to shore up security, according to David Worthington, vice president of payments at Rambus.
PYMNTS
FEBRUARY 19, 2019
Those who work in and around high tech and innovation are lulled into a narrative about progress being on a march ever forward, rarely slowing, never stopping and certainly never turning around and marching in the wrong direction. . But outside of the realm of epic narratives, the slightly less convenient story is often a little bit less linear and a whole lot more complicated.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
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