Chris Skinner
APRIL 30, 2019
One of the surprises I have had in my discussions with banks that are doing digital well, is how all of them seem profoundly committed to cloud-computing. Some more than others, as one of the banks I spoke to wants to achieve over 80% of their IT infrastructure, software and … The post Banking in the Cloud appeared first on Chris Skinner's blog.
Payments Dive
APRIL 30, 2019
Retailers need to consider shedding their legacy POS systems to enable mobile payment acceptance, business analytics, EMV security and better inventory management.
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Chris Skinner
APRIL 30, 2019
I just chaired a nice session at the Innovate Finance Global Summit (IFGS) focused upon the future of UK FinTech. For some reason, the question they asked us to focus upon was: What is holding the UK back in the global investment landscape? I didn’t really understand why we would … The post How will UK FinTech fare in the future? appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 30, 2019
The paramount technology objective today in banking is the implementation of artificial intelligence to enhance customer experience, products and, in turn, financial results, for both consumers and financial institutions. As artificial intelligence and its compatriot technology, machine-learning algorithms, take a more prominent role in financial services, the ethical challenges posed by these technologies advance.
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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
APRIL 30, 2019
Things we’re reading today include: Will telephone bank passwords become obsolete? Does my new biometric bank card really mean the death of the Pin? Scottish have lowest trust in day-to-day banking services If Silicon Valley were a country, it would be among the richest on Earth UK competition regulator provisionally … The post Things worth reading: May 1st 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
APRIL 30, 2019
Ireland has been ramping up to boost FinTech efforts — a trend that has spanned several countries globally. As reported this past week, per Yahoo Finance , Ireland wants to see as many as 50,000 people employed directly within the country’s international financial services sector, with a target date of 2025. That goal has a roadmap in place through Minister of Finance Paschal Donohoe, who debuted a multi-point plan to increase the number from the 44,000 currently employed within the financial se
Bank Innovation
APRIL 30, 2019
For banks, improving their customers' financial health is not just good business. It is imperative. A new survey found that 69% of bank executives agree that helping customers improve their financial health can increase customer engagement and boost customer loyalty for banks. And yet financial institutions struggle with creating meaningful features and services, such as PFM […].
PYMNTS
APRIL 30, 2019
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. “Cross River and RS2 understand that technology innovators demand regulated, secure payment solutions that address dynamic, ongoing changes in the marketplace,” said Cross River Senior Vice President, Public Affairs Phil Goldfeder.
Bank Innovation
APRIL 30, 2019
Facebook, in a shift that has evolved slowly over time, now sees itself as a channel between traditional financial institutions and their customers, particularly considering the prevalence of mobile channels in people's lives. Nine in 10 U.S. checking account customers already use mobile devices for at least some retail banking activities, according to Facebook’s recently […].
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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
Accenture
APRIL 30, 2019
A tale is told of a man riding a horse that is galloping very quickly. Another man, standing alongside the road, yells to him, “Where are you going?” The rider yells back, “I don’t know. Ask the horse!” Read the report. Like this runaway horse, retail banks are now finding that rapidly evolving customer needs and changing expectations are setting the pace for the evolution of the business.
PYMNTS
APRIL 30, 2019
Investing on the part of venture capitalists in financial technology startups — otherwise known as FinTechs — declined during the first quarter of 2019, with China feeling the most pain. That’s according to a report in The Financial Times citing research by CB Insights, the market research firm, which found FinTech funding from venture capitalists around the world declined 13 percent in the first three months of the year to $6.3 billion.
Payments Dive
APRIL 30, 2019
Smart payments are on the rise and consumers now have the option of making payments via mobile devices like voice assistants, household appliances like Wi-Fri fridges or even their car dashboard. Download this report from TNS to discover which country is leading the way in adopting smart payments.
PYMNTS
APRIL 30, 2019
With a top and bottom line beat, a stock buyback and stronger than expected guidance for Q3, there was a lot for investors to like about Apple’s March quarter earnings report – and it seems they were more than satisfied with the overall results, as Apple shares spiked 4 percent in after-hours trading and got within touching distance of that trillion-dollar valuation.
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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.
Bobsguide
APRIL 30, 2019
Security and convenience are the twin pillars of retail banking, as banks seek to find the golden compromise between secure yet easy access for customers. And as banks face increasingly more hostile fraud environments and more stringent protective regulations, they must find a solution and fast.
PYMNTS
APRIL 30, 2019
PSD2 will change – indeed is changing – online commerce in Europe and beyond. In a podcast with PYMNTS’ Karen Webster, Rob Eleveld, CEO of Whitepages, took note of how PSD2 and its strong customer identification (SCA) guidelines (which take effect in September) will shift checkout flows for transactions in Europe. Some verticals, such as online travel companies, will be impacted more visibly, and perhaps earlier, than other niches, he said.
Payments Source
APRIL 30, 2019
Much like Visa's CEO, Mastercard's top executive is viewing the recent mergers in the payments industry as a chance to build partnerships rather than a competitive threat.
PYMNTS
APRIL 30, 2019
The biometrics backlash has already begun. Local officials have started to at least consider bans on official use of facial recognition. States are moving to tighten their biometric privacy laws, following the lead of Illinois, which has what are considered to be the strictest protections in the U.S. And more consumers are thinking deeply about a world in which biometrics control ever more daily aspects of life — and many of those consumers are growing increasingly uncomfortable with such vision
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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.
Bobsguide
APRIL 30, 2019
Stringent data and reporting requirements could negatively impact small business lending in the US, according to the Independent Community Bankers Association (ICBA), while lawyers believe it could be an opportunity for fintechs to establish themselves in the market. Under Section 1071 of.
PYMNTS
APRIL 30, 2019
The financial services space often encounters the conundrum of trying to fit a square peg in a round hole. This challenge often emerges with small businesses (SMBs) that are not large enough to fit into a bank’s corporate and treasury services unit, and are, therefore, forced into being serviced with consumer-targeted products. Yet, just as SMBs can be too small to be considered corporate, high-net-worth individuals can have financial service needs that are too big to fit into the traditio
Bobsguide
APRIL 30, 2019
Market participants, lawyers and the European Banking Authority (EBA) are spill pondering the impact of Open Banking more than a year into the initiative, a conference in central London heard this week.
PYMNTS
APRIL 30, 2019
SoftBank is set to make a $1 billion investment in Latin American delivery app Rappi. Citing sources familiar with the matter, Bloomberg reported that the investment will probably be led by the newly formed Innovation Fund, which was launched by SoftBank Chief Operating Officer Marcelo Claure for technology investments in Latin America. SoftBank’s Vision Fund is also expected to participate, with a deal announced as soon as this week.
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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
APRIL 30, 2019
While a majority of business payments are still made by checks, faster payments and increased cash flows will pressure a move to digital options, contends UMB's Brian Hutchin.
PYMNTS
APRIL 30, 2019
The rise of smart vending machines, driven by data and contactless payments, has the power to upend the way we shop, building loyalty and speeding adoption of contactless payments along the way. According to Will Byrne, CEO of Worldnet Payments , the kiosks and smart shelves that are gaining traction across any number of commerce and retail settings may even shift the employment picture a bit.
Independent Banker
APRIL 30, 2019
“The future is bright, and the opportunities for growth are endless.”. I had the opportunity to read this month’s cover story ahead of writing my column. I’m so glad that I did. I was blown away by the incredible community banks that are featured, and I have a feeling you’ll feel the same way! Even after such a phenomenal ICBA LIVE and the ICBA Capital Summit, which may be happening as you read this, I can still draw such inspiration from our nation’s community bankers.
PYMNTS
APRIL 30, 2019
A venure that would make it easier for consumers to pay for purchases in bitcoin is applying for a license from New York state regulators. Bakkt, which is spearheaded by Intercontinental Exchange, owner of the New York Stock Exchange, has applied for a license to become a trust company, allowing it to hold bitcoin and other cryptocurrencies for customers. “This structure will provide the first end-to-end regulated environment for price discovery of crypto — ?
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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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