Chris Skinner
FEBRUARY 14, 2019
I just picked up the London Business School’s quarterly journal, with lots of articles talking about Artificial Intelligence (AI). There are two in particular that stand out, with some interesting views. The first is by Julian Birkinshaw, Professor of Strategy and Entrepreneurship, who argues that people will be integral to … The post 100 years of AI Life appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 14, 2019
Established fintechs, startups, banks and tech giants alike are pulling out all the stops to attract and retain the same pool of tech talent. Some firms move operations to where the people are, others acquire the companies with the talent they’re looking for, and others simply loosen their purse strings. Many do all the above […].
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Chris Skinner
FEBRUARY 14, 2019
Things we’re reading today include … Bank of America’s Brexit bill hits $400m One in 10 support quick sale of government’s RBS stake, poll finds Big tech disrupters may pose risk to financial stability, warns global regulator RBS profits more than double to £1.6bn Anxiety running high about London’s future … The post Things worth reading: 15th February 2019 appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 14, 2019
Despite predictions of a bleak economy and decreasing investment spending from businesses, banks will not be cutting down their technology spend in 2019, according to Kurt Spieler, Chief Investment Officer at First National Bank of Omaha. “Banks will continue to spend just as much, if not more, on technology this year,” he told Bank Innovation. […].
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Chris Skinner
FEBRUARY 14, 2019
Things we’re reading today include … Banks close thousands of ‘money mule’ accounts, MPs told Value of cryptocurrencies is only in the eye of holders Dark money is pushing for a no-deal Brexit. Who is behind it? | George Monbiot Ex-Goldman Sachs analyst claims he was denied £11million career because … The post Things worth reading: 14th 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.
Bank Innovation
FEBRUARY 14, 2019
As an executive in the ever-changing banking landscape, what separates early adopters from followers? How do innovators hone in on a specific focus when new technology darlings seem to emerge every day? And which technologies merit the most attention, resources, and time? To answer these questions, Bank Innovation has gathered four innovators to share ideas […].
PYMNTS
FEBRUARY 14, 2019
Remember all that stolen Equifax data? Remember how all those names, addresses, dates of birth, Social Security and drivers’ license numbers and other information were stolen in September of 2017 – the information of some 143 million people – in what still stands as the one of the biggest data breaches of all time? Well, investigators reportedly cannot find it.
Chris Skinner
FEBRUARY 14, 2019
Things we’re reading today include … Banks close thousands of ‘money mule’ accounts, MPs told Value of cryptocurrencies is only in the eye of holders Dark money is pushing for a no-deal Brexit. Who is behind it? | George Monbiot Ex-Goldman Sachs analyst claims he was denied £11million career because … The post Things worth reading: 14th February 2019 appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 14, 2019
The movement toward cross-border payments — done digitally, at lower cost and completed faster — is an inexorable one. Headlines in recent weeks have centered on the efforts by Ripple and messaging service SWIFT to improve cross-border money transfer activities. As noted in the American Banker , SWIFT has maintained that Ripple has not set up relationships with firms that can navigate regulatory hurdles.
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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 14, 2019
I just picked up the London Business School’s quarterly journal, with lots of articles talking about Artificial Intelligence (AI). There are two in particular that stand out, with some interesting views. The first is by Julian Birkinshaw, Professor of Strategy and Entrepreneurship, who argues that people will be integral to … The post 100 years of AI Life appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 14, 2019
JPMorgan Chase & Co. is turning to crypto to modernize one of its most central businesses. The biggest U.S. bank said it developed a prototype digital coin that it plans to use to speed up payments between corporate customers, according to a statement Thursday. The token, dubbed JPM Coin, is based on blockchain technology, a […].
Chris Skinner
FEBRUARY 14, 2019
Things we’re reading today include … Bank of America’s Brexit bill hits $400m One in 10 support quick sale of government’s RBS stake, poll finds Big tech disrupters may pose risk to financial stability, warns global regulator RBS profits more than double to £1.6bn Anxiety running high about London’s future … The post Things worth reading: 15th February 2019 appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 14, 2019
Welcome to The Axis, your late look at payments news from around the world. Coverage includes the introduction of automated teller machines (ATMs) with facial recognition technology from Spain ’s CaixaBank. The U.K. ’s Tesco Bank unveiled Apple Siri functionality for its mobile app, state-owned firms in Indonesia are combining their mobile payments efforts through LinkAja, and the U.K. ’s Modulr as well Paxport are developing a new travel payments product.
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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
Bobsguide
FEBRUARY 14, 2019
Unheard of today, the New York & Mississippi Valley Printing Telegraph Company was founded in 1851. Five years later, the company was renamed Western Union. Arguably one of the first companies to transact across borders, Western Union tapped into its telegraph network to transfer money from one.
PYMNTS
FEBRUARY 14, 2019
Artificial intelligence (AI) and machine learning (ML) aren’t part of a far-off future. They are here, and they are at the bank. In fact, 100 percent of modern financial institutions (FIs) use some type of AI, ML or other learning system in varying forms and capacities. Today, nearly 70.5 percent use data mining, and nearly 60 percent use business rules management systems (BRMS), making them the most commonly used learning systems.
Payments Source
FEBRUARY 14, 2019
Alipay is a force to be reckoned with outside of China, but it has taken a strategic approach to foreign markets that downplays its potential as a threat to local payment systems.
PYMNTS
FEBRUARY 14, 2019
Microsoft President and Chief Legal Officer Brad Smith and Pope Francis met for 30 minutes on Wednesday (Feb. 13) to discuss “artificial intelligence [AI] at the service of the common good, and activities aimed at bridging the digital divide that still persists at the global level.” The meeting took place in the Pope’s residence, according to Reuters.
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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.
Insights on Business
FEBRUARY 14, 2019
Many financial services organizations are struggling to manage their risk and compliance exposure in the face of ever-increasing challenges. Massive volumes of regulations are being developed across global financial market segments. The risks are varied, the data sources numerous and the relationships between entities are complex. It’s simply too much for traditional processes and infrastructure to handle effectively.
PYMNTS
FEBRUARY 14, 2019
Ant Financial , the Chinese financial services affiliate of Alibaba, has inked a deal to acquire WorldFirst, the U.K. payments company. According to a report in Bloomberg , this marks the biggest overseas deal for Ant Financial, which has been aiming to expand into the U.S. It is also the first big push by Ant to enter the U.K. market. Alipay, its digital payment service, is accepted at some merchants in the U.K., noted the report.
Payments Source
FEBRUARY 14, 2019
JPM Coin is not meant for consumer payments, but rather is a specific technology for a specific use case that the bank controls. Its value comes not from JPM Coin's appeal, but from JPMorgan's titanic wholesale payments business.
PYMNTS
FEBRUARY 14, 2019
One of the hottest battlegrounds in eCommerce these days — and that includes global, multi-pronged, behemoth eCommerce operators — is a firm in the physical world, the brick-and-mortar stores and chains that, for various reasons, are increasingly attractive to the likes of Amazon , Alibaba and others. That was demonstrated again this week (Feb. 14) when an exclusive report from Reuters said that Alibaba wants to buy a stake in the Chinese wholesale operations of Germany-based Metro AG.
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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.
Bobsguide
FEBRUARY 14, 2019
Quoted daily for each of the main currencies across multiple tenors (1m, 3m, 6m, 12m), Libor represents the rate for which one bank would lend money to another for a set term. It is calculated as the arithmetic average of the submitted rates for each tenor and currency from a panel of banks, with.
PYMNTS
FEBRUARY 14, 2019
Amazon is bringing its cashless store concept, Amazon Go, to the U.K., and has secured retail space in London to do so, according to reports. The move would be the company’s first expansion of the concept outside of the U.S., where it has 10 of the grab-and-go stores. It’s not known how many sites were picked for the U.K. stores, but selling physical food is a primary focus of the company as it continues to grow its global footprint for the service.
Bobsguide
FEBRUARY 14, 2019
Incumbent retail banks are struggling to properly utilise their customer data and provide better experiences for users compared to challengers entering the market with strong data management capabilities. That’s according to Andrew Beatty, senior vice president of global banking solutions at.
PYMNTS
FEBRUARY 14, 2019
Might this be the validation that at least some cryptocurrency enthusiasts and advocates have been awaiting? Thursday morning (Feb. 14), CNBC reported that JPMorgan Chase will be rolling out the first cryptocurrency on offer from a major bank based in the United States. The offering will be known as JPM Coin, according to reports, and is geared toward the firm’s wholesale payments business, a segment that moves $6 trillion globally.
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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.
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