Chris Skinner
JUNE 14, 2018
I was listening to a group of CIOs talking about legacy systems change the other day. One said that it doesn’t matter how old the systems are; it’s all about whether they are maintainable and fit-for purpose. I kind of agreed with that, although I cannot think of any silo-based, … The post Why banks fear core systems change appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 14, 2018
PREMIUM - Add another challenger bank to the mix, this time in Eastern Europe. Polish bank Alior is working on launching a digital-first bank later this year, Bank Innovation has learned. Alior Bank, headquartered in Warsaw, was founded in 2008 and has more than 3 million customers, 216 branches, 219 high-tech mini branches that it […].
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Chris Skinner
JUNE 14, 2018
It’s interesting to hear bank CEOs talking about the threat of technology to their business, and the fact that more and more CEOs are talking about it. Jamie Dimon and Francisco Gonzalez of JPMorgan and BBVA were the first to start the call to action five years ago. Jamie talked … The post (Some) Big Bank CEOs believe that banks must reincarnate or die appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 14, 2018
PREMIUM — What do Under Armour and Apple’s Beats by Dre have in common? Talent has been recruited from both companies to kick-start a bank that’s a non-bank. “We don’t want to call ourselves a 'bank'; we want to be called Cogni,” said Archie Ravishankar CEO of Cogni. “Cogni meaning cognizance, intelligence, smart and relieving […].
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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
JUNE 14, 2018
Things we’re reading today include … Bitcoin futures growth could prompt bank ratings downgrades China’s Banks Are Still in Trouble Wall Street wants more female traders, but old perceptions die hard John McDonnell tells bankers: ‘We’ll bring you into Government with us’ Wealth managers focus on keeping it in the … The post Things worth reading: 14th June 2018 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.
Payments Dive
JUNE 14, 2018
Mobile Payments Today Editor Will Hernandez previews the latest guide from Networld Media Group.
Chris Skinner
JUNE 14, 2018
Things we’re reading today include … Nearly 60 bank branches closing every month Bank of England to set new standards for when IT goes bad How the ‘big kahuna’ of central banks may bring reality crashing down on stocks Alior to launch pan-European digital bank with solarisBank and Raisin Banks … The post Things worth reading: 15th June 2018 appeared first on Chris Skinner's blog.
PYMNTS
JUNE 14, 2018
The Securities and Exchange Commission’s (SEC) leading authority on bitcoin, cryptocurrency and initial coin offerings (ICOs) has ruled that some well-known cryptocurrencies like bitcoin and Ethereum are not securities. However, the coins offered during initial coin offerings very likely are entirely — or mostly — securities, according to news from CNBC.
Insights on Business
JUNE 14, 2018
Today’s banking systems evolved from the first merchants bartering and carrying goods between early villages and towns. From there, banking expanded across the world in the form of lenders supporting trade across the Silk Road in ancient Greece, the Roman Empire, and the Han Dynasty. Our most closely related banking systems evolved in medieval and Renaissance Italy where banking branches were established throughout Europe.
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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
PYMNTS
JUNE 14, 2018
It’s easy for consumers to buy just about anything online these days. But big-ticket items – such as used vehicles, agricultural equipment and valuable artwork – require more than a point and a click to add an item to a digital shopping cart. It requires confidence that both buyers and sellers will deliver what they promised — something that is often in short supply when expensive purchases are involved.
Bobsguide
JUNE 14, 2018
The Chinese government has been promising to open up its financial markets ever since Bill Clinton was in the White House. Yet over the course of the past two decades, foreign investors and corporate entities looking to enter China’s thriving finance sector have been continually met with.
PYMNTS
JUNE 14, 2018
Equifax , the embattled credit scoring company announced Thursday (June 14) that it named Bryson Koehler as Chief Technology Officer. In a press release, Equifax said Koehler, who was previously the Chief Technology Officer at IBM Watson and Cloud Platform , will be in charge of the company’s global information technology strategy and development.
Payments Source
JUNE 14, 2018
Janeffer Wacheke’s fresh-vegetable stall in Nairobi uses technology that’s helping crack a problem Kenyan banks have so far failed to solve -- measuring the creditworthiness of traders in the country’s $20 billion informal economy.
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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.
PYMNTS
JUNE 14, 2018
The world is becoming more digital , and digital-transaction-friendly , at an almost exponential rate over the last few years. All to the good — and all adding to the case of greater efficiency. However, inefficient pockets hang on. Transparent allocation processes often make corporate spending opaque, even to CFOs most of the time — and even though they should presumably know such things.
Payments Source
JUNE 14, 2018
The advancement of digital wallet technology in the past five years may be having a numbing effect on e-commerce merchants, who favor familiar brands over big-name wallet apps.
PYMNTS
JUNE 14, 2018
If one thing is certain about the future, it’s that nothing can be certain – so it’s best to be prepared for everything. But when it comes to payments technology, that can be easier said than done. Jeff Zimmerman, COO at Clearent , says that embedding payments into software is, admittedly, a difficult task for ISVs, given the myriad types of devices their customers are using to run the software, as well as the different types of payment devices and methods that their customers want to use in con
Payments Source
JUNE 14, 2018
As the gig economy balloons, a private network is adding partners and geographies to separate itself in a fintech-dominated market.
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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.
PYMNTS
JUNE 14, 2018
Millennials are a force to be reckoned with, as they are made up of approximately 90 million individuals with significant spending power: By 2030, their aggregate annual income is projected to be more than $4 trillion. And though this market presents brands with a large audience of potential customers, will digitally native millennials tune in to a shopping network?
Payments Source
JUNE 14, 2018
It’s possible for a cryptocurrency to begin as a security and then transform into another type of asset, said William Hinman, who heads the regulator's division of corporation finance.
PYMNTS
JUNE 14, 2018
When Yuval Brisker landed in Tel Aviv for a family function, he didn’t have time to stop at a bank and exchange money before hopping in a taxi. At the end of the ride, neither the driver nor the rider wanted to be responsible for giving, receiving or holding onto the kind of personal information needed for a credit card transaction or a digital peer-to-peer (P2P) transfer.
Payments Source
JUNE 14, 2018
Businesses are tasked with carrying too much of the burden of protecting customers' personal information, and typically turn to Social Security numbers. The advent of self-sovereign identity may give consumers a chance to reclaim control over their data and how it’s used, Finicity's Nick Thomas writes.
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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.
PYMNTS
JUNE 14, 2018
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. Alior Bank will provide multicurrency accounts with international transfers and deposits, while solarisBank will provide the banking infrastructure; Raisin, via its netw
Payments Source
JUNE 14, 2018
Mobeewave is rolling out its mobile point of sale technology in the United Arab Emirates, a country that still has very high cash usage despite government initiatives to encourage digital payments.
PYMNTS
JUNE 14, 2018
This summer, Chase will be letting Chase Freedom cardholders earn cash back in three new quarterly categories: gas stations, Lyft , and Walgreens. Card members will be able to earn 5 percent cash back on up to $1,500 in purchases across all categories between July 1 and Sept. 30, according to a press release. The intent is to maximize rewards on everyday purchases that are made using the Chase Freedom card, the company said in the release.
Payments Source
JUNE 14, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Singapore studies the right way to use AI; Slovenia develops a cryptocurrency mall; Klarna expands into auto repair payments; Dixon's suffers a breach.
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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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