Mon.Nov 18, 2019

Google, Facebook, Amazon and Co are NOT offering banking, so stop saying they are

Chris Skinner

In the last month, there’s been a wave of announcements from Facebook, Apple, Google and Amazon about banking.

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The future of banking is about data-driven experiences and not products: HSBC

Bank Innovation

The bank of the future will cease to be about specific products and services. Instead, it will offer embedded “experiences” based on data the institution has on its customers, according to a report released by HSBC this month.

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Things worth reading: 19th November 2019

Chris Skinner

Things we’re reading today include … How To Succeed As A Challenger Bank Ant Financial May Join Race for Singapore Virtual Bank Licenses ‘Why economists get things wrong’ Sexist and biased?

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Facebook beefs up e-commerce capabilities with digital payment wallet

Bank Innovation

Facebook is adding a digital payment method to its platform, a move which will facilitate retail transactions, and ultimately encourage customers to stay within its ecosystem. Facebook Pay, which was announced last week, will link to most credit cards and debit cards, much like Amazon Pay and Venmo.

The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

What the SAFE Banking Act Means for Financial Institutions

Abrigo

Key Takeaways Cannabis-related businesses operate in high cash volumes, creating a public safety concern. The SAFE Banking Act looks to create a safe harbor for institutions looking to bank legitimate CRBs.

More Trending

China’s Byton Gets License To Launch Electric SUV In US

PYMNTS

Chinese startup Byton announced Monday (Nov. 18) that it has secured a distributor license from California, bringing it one step closer to bringing its first electric SUV, Byton M-Byte, to the United States.

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Big tech acting like banks should face same rules, Germany says

Bank Innovation

Germany has a message for big tech companies: Get ready to be regulated if you want to offer banking services. “It’s It’s really, really important” to ensure a level playing field between banks and new competitors, Deputy Finance Minister Joerg Kukies said at a conference in Frankfurt on Monday.

Elavon Spends $300M For Sage Pay

PYMNTS

Bancorp subsidiary Elavon is acquiring U.K. payments gateway Sage Pay for $300 million, according to reports on Monday (Nov. The deal comes as Sage Pay’s parent company Sage Group said in September that it was seeking “strategic alternatives for the payments business.”

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An Agile Approach To Better Lending, Deposit and Fee Products

Banker to Banker

NEW PRODUCT DEVELOPMENT In past articles, we have talked at length about using agile methodology for application development, for technical product innovation, and for your risk processes.

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Crypto's road to respectability is long but true

Payments Source

As deployments accelerate it's hard to ignore the validity of cryptocurrency. But there's still work to do, says Polyient Labs' Brad Robertson. ISO and agent Cryptocurrencies Bitcoin Digital payments Retailers

Why Tuesdays and Thursdays Are Your Best Banking Days

Banker to Banker

BANK WEBSITE MARKETING While last week we focused on bank mobile app usage, in this article we take a look at how mobile and online usage compares to see what insights we can glean for bank marketing and customer experience management.

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How APIs, The Gig Economy Drive Payroll-Accounting Connectivity

PYMNTS

With Open Banking business models inspiring FinTech innovators to explore other use cases for data integrations, the B2B financial services market has seen a swath of collaboration between traditional financial institutions and FinTech firms — and between FinTech firms themselves.

New Launch: ICICI Pre-Approved Personal Loan On BankBazaar

BankBazaar

Need cash urgently? Now, get a loan of up to Rs. 20 lakhs credited to your bank account in just 3 seconds with ICICI pre-approved Personal Loan. Here’s everything you need to know.

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.

Why Google’s Deal With Citi Isn’t About Becoming A Bank (But Is Still A Big Deal)

PYMNTS

It was the gasp heard ‘round the world last week. Google confirmed that it will partner with Citi and Stanford Federal Credit Union to launch a checking account linked to Google Pay sometime next year. Media outlets and pundits have chalked this up to Google doing what every other ecosystem player wants to do: finding new ways to keep consumers inside the Google ecosystem and monetize those interactions. I think it’s more than that.

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How To Succeed As A Challenger Bank

Ron Shevelin

Challenger banks need product--not just user experience--differentiation. Oh, and a marketing budget

Amex Offers Big Cash Incentives To Businesses To Boost Acceptance

PYMNTS

American Express, which has long lagged behind rivals like Visa and Mastercard in terms of business acceptance, has been aggressively pushing to close the gap, offering some businesses thousands of dollars in sign-up fees as well as other incentives, according to a report by The Wall Street Journal.

Gamification via a Fintech ecosystem wins a UN Global Climate Action Award

Daily Fintech

A 3yr old Corporate Social Responsibility – CSR – initiative that took a life of its own, has resulted in a 2019 UN Global Climate Action Award for Alipay AntForest App. A great example of gamification and network effects on an ecosystem like Alibaba.

Marketing-Led Post-COVID-19 Growth Strategies

Businesses are laying off workers, shutting their doors (some permanently), and struggling to react to the radical destruction that coronavirus (COVID-19) is doing to our society and communities. Most have already sustained massive damage, and we still have yet to see the scope of impact of the global pandemic that has upended the globe. Any return to normalcy may seem far-off, but sales and marketing are on the front lines of restarting the economy. When the dust settles, we have a responsibility to turn our shock and grief into fierce determination, and lead the charge of responsible, strategic, sustainable future growth. However, there’s no team better suited to lead that charge than the marketing department. Marketers are uniquely positioned to provide creative solutions to aid their organization in times of change and chart a course for navigating success.

Digital Disruption Meets Automotive Repairs

PYMNTS

It’s a cliché (but a true one) to say that the automotive world, and the culture attached to it, is undergoing a massive, historic change — thanks to digital and mobile technology, and a shift in consumer preferences. Cars and trucks are becoming rolling centers of commerce and payments. Ridesharing and other programs are changing the concept of what it means to be a driver, rider and user of transportation in general.

Mastercard works with Zambian fintech to expand financial inclusion

Payments Source

Zazu Limited, a Zambian fintech, has partnered with Mastercard to launch a mobile wallet that supports a prepaid account instantly issued from the app to any local consumer — with or without a bank account. Financial inclusion Mobile wallets Mobile payments Prepaid cards Mastercard Zambia

PayPal On Facebook Pay And The Power Of Consumer Choice

PYMNTS

With so many mobile wallets littering the landscape, it can be hard to keep up with everything that is already out there, let alone trying to keep track of all the newcomers. But some players are so large that their entrance into just about anything is going to be head-turning, no matter how crowded the field already is. Facebook — the owner of the eponymous social media site as well as Instagram and WhatsApp — with billions of users stretch across all corners of the globe, is one such player.

Morning Brief 11.18.19: Facebook adds donation buttons for charity payments

Payments Source

Apple Pay supports new dApp payments; Digital ID advances in Singapore; and other information you need to start your day, from PaymentsSource and around the web. Briefing

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How ZoomInfo Helps Overcome the Top Pain Points of Inside Sales

Recent digital transformation has shifted the B2B landscape by ushering in the era of buyer empowerment. With more access to user reviews, analyst opinion, and industry research, decision-makers are more informed than ever while navigating what is now known as the “buyer’s journey.”

Corporates Brace For BEC Scam Ramp-Up

PYMNTS

Cybersecurity experts are warning that the next year, and beyond, will continue to present an elevated threat level to businesses at risk of payments fraud — and governments are taking steps to react accordingly.

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Building the right sandbox to attract fintechs

Payments Source

Congress can help create a more uniform federal regulatory testing ground to foster innovation. Fintech Fintech regulations Cryptocurrencies State regulators Facebook House Financial Services Committee

Ohi Lands $2.75M To Enable Quick Delivery For Smaller Brands

PYMNTS

Ohi , an eCommerce startup, announced that it has closed a $2.75 million Seed funding round led by Flybridge Capital Partners. Founded last year by CEO Ben Jones, Ohi offers same-day or next-day delivery to smaller brands via micro-warehouses in major cities.

Wirecard to reward digital app users by paying interest

Payments Source

Wirecard will begin giving German users of its boon Planet digital account 0.75% interest on funds held in the prepaid card account beginning next year. Prepaid cards Digital payments Mastercard Wirecard Germany

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Marketing Ops: The New Revenue Hero

As data continues to play a starring role in today’s B2B organizations, both marketing and sales operations professionals are poised to solidify their place as critical revenue drivers. In particular, the evolution of the Marketing Operations (Ops) role has created a new standard in marketing and has become a vital component of an organization’s success.