Chris Skinner

NOVEMBER 6, 2017

I’ve been saying for so long now that banks need to replace core legacy systems that I’m boring myself, but here I go again. The reason I’m talking about it again is that, even though some disagree and think they can fudge the issue with plug-ins, I believe that the … The post The ten-year ticking timebomb appeared first on Chris Skinner's blog.

System 291

System Digital Banking Technology Fintech 291

Bank Innovation

NOVEMBER 6, 2017

EXCLUSIVE- PFM app MoneyLion today launched an investment tool called MoneyLion Plus, that aims to help the average American save money. “How do you save money? How do you invest? A lot of people don’t,” Tim Hong, MoneyLion chief marketing officer told Bank Innovation. “And that’s not because of lack of intention, but because it’s just […].

Tools 268

Tools Innovation Marketing Online 268

Accenture

NOVEMBER 6, 2017

Culture transformation programmes are ten-a-penny in businesses across all industries. That’s no surprise. The pace of change—technological, economic and competitive—means all large organisations must now think very differently about how they operate and the way their people work. For banks, some extra pressures are pushing them in this direction. Tougher post-crisis regulation has introduced multiple layers of complexity and bureaucracy into their businesses.

Leadership 171

Leadership Innovation Survey Examples 171

Bank Innovation

NOVEMBER 6, 2017

EXCLUSIVE — When it comes to blockchain, lenders need to stop thinking about smart contracts and start thinking about identity, according to industry experts. “To get an identity verified, to get an organization to service you, it can be a lot smoother, it can be more secure, and you can be more in control of […].

blockchain 262

blockchain Security Industry Online 262

Advertisement

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

Lending

Accenture

NOVEMBER 6, 2017

When it comes to Open Banking, regulatory, technological and competitive pressures are forcing banks to confront the choice posed by French critic, journalist and novelist Alphonse Karr: “We can complain because rose bushes have thorns, or rejoice because thorns have roses.”. Recent Accenture research indicates that banks in Europe (where Open Banking is being mandated) and in North America and Asia Pacific (where, at the moment, it is optional) appear to be choosing to admire the flowers.

America 151

America Customer Experience Data Apple 151

Chris Skinner

NOVEMBER 6, 2017

Things we’re reading today include … Challenger bank Monzo raises another £71m How the Queen was dragged into tax havens affair Regulator mulls compensation for bank scams Saudi billionaire Alwaleed’s arrest rattles investors Who is Prince Al-Waleed bin Talal, the ‘Arabian Warren Buffett’ at the centre of the Saudi anti-corruption purge?

Taxes 150

Taxes Regulation 150

Bank Innovation

NOVEMBER 6, 2017

Chinese and Australian regulators are partnering up on fintech. The Australian Securities and Investment Commission (ASIC) and the China Securities Regulatory Commission (CSRC) have agreed to share fintech information with the other party. The deal will give each country more insight into emerging fintech trends taking place in the other region, according to the regulators. […].

Regulation 207

Regulation Fintech Regional Trends 207

PYMNTS

NOVEMBER 6, 2017

With procurement becoming a more strategic unit within the enterprise, much of its power comes in the form of spend management, savings and bottom-line benefits. But, according to eProcurement and spend management company Proactis , organizations can only wield that power within the procurement function if it communicates with the finance department — and, Proactis found in a recent survey, that’s only happening part of the time.

Survey 123

Survey Policies Management Resources 123

Bobsguide

NOVEMBER 6, 2017

Whilst this last decade has been anointed with grand, sweeping titles, the fact remains that society is changing irreversibly. Historians of the future will look back on the post-noughties as the dramatic information shift. First, we developed the hardware, with the rise of Jobs and Wozniak, then.

110

110

Advertisement

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

Report

PYMNTS

NOVEMBER 6, 2017

Mastercard announced news late last week that it named Jeanne Tisinger a senior advisor for cybersecurity. In a press release , the payments company said that in the role, Tisinger will contribute to the implementation and expansion of the company’s security strategy and public policy initiatives. Tisinger will also add to programs focused on enhancing current and future talent in these areas.

Security 115

Security Analytics Resources Policies 115

Let's Talk Payments

NOVEMBER 6, 2017

Conforming to and simultaneously molding user behavior around new products & services for secure mobile transactions are critical for driving adoption. Ensuring that these products and services are built and.

Fintech 109

Fintech Mobile Security US 109

PYMNTS

NOVEMBER 6, 2017

The Social Security number (SSN) was never meant to get this much attention. It was never meant to be shorthand for, well, you – proving that you are who you say you are, serving as a gateway to all manner of sensitive data and, of course, financial accounts. Yet those nine numbers have become a standard bearer for identity verification, a gold mine for fraudsters – maybe rendered moot by the huge breaches at Equifax and other companies.

Security 109

Security Data Fraud Regulation 109

Payments Source

NOVEMBER 6, 2017

For most retailers heading into this year’s holiday-season sales crunch, the epic Equifax data breach was only the latest in a series of escalating threats that are having a profound effect on the way they handle payments.

Retail 86

Retail Data Payments Fraud 86

Advertisement

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.

Lending

PYMNTS

NOVEMBER 6, 2017

Scammers deploying the Business Email Compromise (BEC) scam have proven no company, regardless of size and industry, is immune to this crime. Reports in The Art Newspaper say BEC scammers seem to have a new favorite target this time: art galleries. According to the publication, scammers using the BEC, in which a fake invoice is sent to a company with request for payment, have stolen “large sums of money” from art galleries in the U.K. and U.S. with Hauser & Wirth, Simon Lee and Tony Karman a

Report 108

Report Fraud Payments Industry 108

Payments Source

NOVEMBER 6, 2017

No matter what the new tool is, you can almost bet it will come with its share of disruption to the very people who invented it, writes Kim Curley, director of people and organizational change for NTT Data Services FSI Business Consulting.

Tools 80

Tools Payments Data Retail 80

PYMNTS

NOVEMBER 6, 2017

For consumers, the holiday shopping season is the most wonderful time of year. Seasonal sales, twinkling lights and Santas for photo-ops everywhere you turn. For retailers, it’s the Hunger Games. And this year, much like every year for the last 20, the tributes from district Amazon are not kidding around. This year’s newest innovation? Cutting prices — not just on the items that it sells directly, but also on the products of the third-party sellers on its website.

Los Angeles 105

Los Angeles New York City Delaware New Jersey 105

Let's Talk Payments

NOVEMBER 6, 2017

In one of the Talk with GS series, Robert Smith, Founder of Vista Equity Partners, discusses software’s transformational impact on the economy and how digitization continues to disrupt entire industries.

Industry 81

Industry Video US 81

Advertisement

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.

US

PYMNTS

NOVEMBER 6, 2017

[link]. If millennials are the future of, well, everything in payments, then mobile is the future of everything in payments. Yes, that is a rather bold statement. And take it with as many grains of salt – or none – as you wish. But the fact remains that millennials are tethered to their keyboards, of the small-screen size. And much of daily life is conducted through that keyboard, in social settings and beyond.

Millennials 105

Millennials Mobile Examples Payments 105

Payments Source

NOVEMBER 6, 2017

The information you need to start your day, from PaymentsSource and around the Web. Today: Western Union's earnings get a jolt from technology; Paytm adds chat tech; N26 plans U.K. launch; Equifax board clears inside stock sales after its data breach.

Data 69

Data Technology 69

PYMNTS

NOVEMBER 6, 2017

Prompted by an announcement that CME Group , the world’s largest futures exchange, is launching futures for digital currency in 2017, around 100,000 people signed up at Coinbase a day later. Citing Alistair Milne, co-founder and chief investment officer of the Altana Digital Currency Fund, CNBC reported that the huge jump was due to the CME getting into the cryptocurrency market.

cryptocurrency 103

cryptocurrency Bitcoin Groups Fraud 103

Payments Source

NOVEMBER 6, 2017

Following the release of the nonbinding statement of policy, regulators still have an important role to play in making sure the industry achieves an effective data-sharing model.

Data 67

Data Policies Regulation Industry 67

Advertisement

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.

Compliance

PYMNTS

NOVEMBER 6, 2017

Virtual Procurement card provider AeroPay Express is rolling out a new line of credit for small and medium-sized businesses (SMBs) affected by natural disasters to pay their suppliers. The company announced last week it is launching a $50,000 line of credit solution without interest for companies affected by the streak of recent natural disasters, including fires and hurricanes.

Cards 102

Cards California Tools Payments 102

Payments Source

NOVEMBER 6, 2017

China enacted sweeping changes to a business competition law to address fraud in the e-commerce industry, which is plagued by malfeasance ranging from fake positive reviews to merchants goosing sales numbers.

Online 64

Online Fraud Industry Payments 64

PYMNTS

NOVEMBER 6, 2017

An apple a day may keep the doctor away, but if it’s investors one is hoping to make happy, consider buying an insurance company. That could be one take away from CVS’ latest 3Q earnings release, which managed to come in ahead of analyst expectations on Wall Street, despite weak retail sales. Earnings per share locked in at $1.50 instead of $1.48, while revenue was $46.2 billion — as opposed to the $46.17 forecast — and up 3.5 percent from the same quarter last year.

Retail 101

Retail Apple Strategy Management 101

NCR

NOVEMBER 6, 2017

Banks have spent a lot of time in the last few years trying to attract the attention of affluent millennial consumers – those born between the early 80s and mid-90s, who are currently an immensely attractive segment for financial institutions. This demographic has largely settled into their careers and have disposable income, and will be looking for mortgages and savings products.

Millennials 73

Millennials Study Groups Mobile 73

Advertisement

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.

Lending