January, 2019

The CEO and Chair make digital banking work

Chris Skinner

I claim that most of the banks embracing true digital transformation and not just treating digital as a channel, are led by people who understand technology. They have a leadership team who are passionate about digitalisation, and see it as a core raison d’etre of the bank’s future.

8 mobile payment trends that matter for 2019

Mobile Payments Today

Eight major trends will help define the landscape of mobile payments in 2019, according to Mark Flamme of AlixPartners

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Risk management in the cloud: A strategic imperative

Insights on Business

For financial institutions, the benefits of moving away from legacy in-house systems to the cloud are obvious. A cloud environment offers financial institutions greater speed and agility than their current environments.

Credit Unions Step Up During Government Shutdown


There is no shortage of headlines about the partial government shutdown that is now on its 27th day, and no shortage of articles speculating how long it will go on, what will be affected and (most often) what it will take to finally bring it to an end.

Rebeca Romero Rainey: Our efforts are paying off

Independent Banker

. “I know many of these successes took years, but our efforts are paying off.”. It never ceases to amaze me how powerful we are when we work together, community bankers. Since sharing our advocacy successes with you in December, I’ve been thrilled to see more hard-fought victories come our way.

The 3 Challenges Any Effort Must Overcome

Credit Union Geek

This post began as I considered technologies emerging within the financial space. From chatbots to mobile app improvements, I don’t have to explain all the emerging…stuff.

FinTech Forecasts for 2019

Chris Skinner

There are many pundits predicting change in banking and FinTech this year. Here’s a review of a few of the ones that have some depth. American Banker published seven FinTech predictions for 2019 by Bob Legters, Chief Product Officer of Banking and Payments at FIS.

More Trending

2019: An artificial intelligence-enhanced AML odyssey

Insights on Business

Welcome to the brave new world of regulatory technology.

Fortnite’s In-Game Currency Used In Money Laundering Schemes


A new report has revealed that Fortnite’s in-game currency is being used to launder money from stolen credit cards.

Avoka Rolls Out Module to Link Back Office to Customer Onboarding Journey

Bank Innovation

Avoka, a software firm specializing in customer acquisition and onboarding, seeks to bridge a gap at retail banks and credit unions between the back office and the customer journey with the launch of its new module, Workspaces.

The new FinTech bank

Chris Skinner

For years, I’ve been wondering why people in business operations couldn’t align their needs with the people delivering technology in the organisation. The CIO would sit outside the business, watching and responding to requests.

How to get rid of the legacy

Chris Skinner

I often talk about changing core systems, and most people tell me I’m mad. It doesn’t have to happen. You can have an overlay of middleware to deal with it. You don’t need to change those old systems. It’s too risky and too costly. Blah, blah, blah, blah, blah.

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Podcast episode 14: Switch CEO discusses automating payment card data

Mobile Payments Today

Host David Jones, discusses automating payment card data, and how it protects cardholders and merchants with Switch CEO, Chris Hopen

Cards 210

Serving payments customers in the age of instant gratification

Insights on Business

Like millions of others, I enjoy having a cup of coffee at various retail coffee establishments. Over the years, these coffee shops, especially the large chain variety, have evolved with upgraded choices to increase customer satisfaction and happiness.

Why Africa Is eCommerce’s Next Great Frontier


Africa as next great eCommerce frontier? The ingredients for a revolution in payments across the region, fueled by demographics and technology, seem to be there.

What to Do When Your Banking App Stumbles Out of the Gate

Bank Innovation

BMO Harris Bank did itself a favor by being responsive to questions and criticism on social media from customers locked out of their digital accounts with the bank this past week, according to Adrenaline, an experience design company.

Ten Top Trends for 2019

Chris Skinner

Hello, hello and hello again. Welcome to 2019. A brand new, fresh, shiny year, and just out of the starting gate. Having said that, yes we are still talking Brexit and we still find a group of shady bankers knocking off billions. Same s**t, different day, as Stephen King would say.

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Digital transformation needs a burning platform

Chris Skinner

Ever since I started working in business process re-engineering and transformation a while ago, before most millennials were born I should say, I learnt a lesson early on. Transformation will never work without a crisis point.

The growth of mobile POS and preventing fraud

Mobile Payments Today

Mobile point-of-sale systems are a growing consideration for retailers, but carry a number of concerns about fraud and secure payment

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Quantum computing finds a home in risk management

Insights on Business

At school, we were taught classical physics. The laws of Newtonian gravity dominated our studies and life seemed so simple – everything moved in a straight line unless acted on by an external force and F=ma, mass x acceleration. Then it all changed.

Amazon Plans Whole Foods Expansions In Closed Sears Stores


Amazon has its eyes on expansion for its Whole Foods brand in closed Sears and Kmart stores, according to a report by Yahoo! Finance. The recent woes of Sears and other struggling retailers are seen as an opportunity for the online retail giant. Sources told Yahoo!

Fiserv-First Data Megadeal Includes $500 Million Innovation Spend

Bank Innovation

Fintech provider Fiserv said today that it will purchase payment processor First Data Corporation in a massive $22 billion deal, and the transaction will come with a hefty investment in innovation.

Banks need to be technology giants

Chris Skinner

I got into one very interesting discussion with a digital banker. He was underscoring how important data is in banking, and referenced the fact that banking started with data.

Digital banks are led by clear customer-obsessed principles

Chris Skinner

Another key factor of the digital banks I’m talking to is that the customer is their primary focus. Not the shareholder, the investor, the quarterly bonus, the dividend yield or the cost-income ratio. The customer.

Looking ahead: Setting expectations for banking and mobile payments in 2019

Mobile Payments Today

The banking industry is facing multiple challenges in the face of stiff competition from fintech startups and disruptive applications that provide direct access to loans, credit and other critical services

Three key considerations before jumping into your sales incentive compensation planning process for 2019

Insights on Business

mPOS At 37,000 Feet


With the global mobile point of sale (mPOS) market projected to experience a compound annual growth rate (CAGR) of 18.8 percent from 2017 to 2026, many solution providers are looking to use partnerships as a boost to snag a bigger share of the growing market.

Will Digital Technology Save Citi More Than $1 Billion Over the Next 3 Years?

Bank Innovation

Citigroup CEO Michael Corbat touted roughly $200 million in cost savings the bank found in 2018 by going digital and taking on other related initiatives. It seems $200 million is only the beginning.

Financial literacy is the scourge of our times

Chris Skinner

One of the issues I have with financial services is that it’s frightening. You might not think so, but I grew up in a world of cushioned money. I didn’t know much about money at all. The most I knew about money is begging for more pocket money.

Will blockchain replace core banking?

Chris Skinner

I’ve got lots more to write about digital transformation and the things I’m learning from banks engaged in doing it but, to give you a break, I also have a couple of fantastic guest submissions which are worth sharing.

Automakers expand connected car ecosystem with payment technologies

Mobile Payments Today

Automakers from Honda to GM and Hyundai see mobile payment technology as a key component in developing connected car technology

Hot banking sessions at IBM Think 2019

Insights on Business

With such a great lineup of education and activities for financial services leaders at IBM Think from February 12-15 in San Francisco this year, planning your agenda will be tough.

Stripe Raises $100M, Boosting Valuation To $22.5B


Stripe, the San Francisco digital payments startup, has landed a $100 million investment from Tiger Global Management, boosting its valuation above $20 billion.

Fewer Deals But More Dollars Flowed from VCs to Fintech Startups in 2018

Bank Innovation

Fewer but larger venture capital deals in 2018 translated into some big payoffs for fintechs. Fintech-related funding jumped 38% to nearly $11 billion in 2018, according to the 4Q18 MoneyTree Report from PwC and CB Insights. Deal activity in the space rose to 627 transactions, up from 571 in 2017.

Digital banks look more like Big Tech and vice versa

Chris Skinner

I found it interesting to hear that many of the banks focused upon digital are studying, visiting, talking to and hiring people from the Big Tech firms. People with experience at Netflix, Alibaba, Amazon and Tencent are in strong demand, especially those who can code.

Synchronised swimming or football teams?

Chris Skinner

In another guest post related to industry versus digital banking Marko Wenthin, co-founder of solarisBank, sent this insight into my discussion of FinTech banks last week.

Fiserv acquisition of First Data may set off consolidation in payments space

Mobile Payments Today

The blockbuster merger of Fiserv and First Data could set of a series of industry consolidation, according to industry analysts