Chris Skinner
MAY 16, 2019
Three years ago, I blogged about three phases of FinTech. Three years later, I can expand on that theme and talk about five phases of FinTech. The five phases of FinTech are (dates are rough guide): Disruption (2005-2014) Discussion (2014-2017) Partnership (2017-2022) Integration (2022-2027) Renewal (2027+) Phase One: Disruption (2005-2014) … The post Five phases of FinTech (2005-2027) appeared first on Chris Skinner's blog.
Payments Dive
MAY 16, 2019
Research confirms that cashless readers do not undermine cash sales in a vending machine. In fact, the cashless technology serves to improve both cashless and cash activity, particularly for machines doing lower volume sales.
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South State Correspondent
MAY 22, 2019
MANAGING CREDIT RISK Most risk managers are intimately familiar with the expected loss for credit and interest rate risk. However, fewer risk managers are familiar with the concept of unexpected loss. For commercial banks, it is the unexpected loss that is more important for lending decisions and long-term profitability. We will outline how unexpected loss manifests itself in lending decisions and what commercial lenders must know to safeguard against unexpected loss for credit and interest ra
Bank Innovation
MAY 30, 2019
Japanese mobile payment app PayPay is embedding itself in rural areas to gain market share in a country where cash is still dominant. Indeed, cashless payments reportedly account for just 20% of transactions, compared to 50% in the U.S. Despite some well-heeled competitors, Japan is a largely untapped market for mobile payment providers. PayPay's chief […].
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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
PYMNTS
MAY 8, 2019
Amazon was the target of an “extensive” cyberattack in which hackers stole money from merchant accounts and funneled them into their own, according to a report by Bloomberg. The attacks occurred between May and October of 2018. Amazon said the hackers compromised about 100 seller accounts, taking cash from either loans or sales and putting it into their own accounts.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
MAY 29, 2019
So my snarky little friend Ron Shevlin wrote a piece on Forbes claiming that Americans don’t want a digital bank. As the guy who wrote the book Digital Bank you might think I would take offence to such a statement, but no. I agree with his content, just not his … The post Customers don’t want digital banking appeared first on Chris Skinner's blog.
Payments Dive
MAY 10, 2019
As venture capital continues to look for new opportunties, startup firms in the fintech space are taking unique approaches to payments and financing to raise new funding to accelerate their growth.
South State Correspondent
MAY 15, 2019
PROFITABLE BANK LENDING Commercial lenders should be aware of the important factors that drive customer behavior to borrow funds. Our clients borrow from us when they refinance debt, or purchase equipment, real estate, or finance working capital. However, there are three key elements that make debt especially appealing for borrowers. Commercial lenders that understand these three elements can better position themselves for success. .
Bank Innovation
MAY 29, 2019
SAFE Credit Union, through a partnership with NCR Digital Banking, is using geofencing technology as a trigger for push alerts to its customers. The credit union uses the tool to get feedback from customers as they leave the branch and to inform customers of potential rewards when they attend certain events or perform certain tasks. […].
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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
PYMNTS
MAY 20, 2019
Mobile commerce might just be the key to saving brick-and-mortar stores. Consumers use their smartphones to shop for everything, everywhere – including using them to help them shop in-store. What’s more, consumers who use their smartphones while shopping in-store visit them more often than consumers who don’t. As much as 81.5 percent of consumers who do say they visit brick-and-mortar shops every day or every week.
Bobsguide
MAY 2, 2019
Regulators and standards bodies are at risk of standardizing obsolete technology by creating rules for blockchain networks that are already years old, according to Joe Pindar, blockchain and cryptography director at Thales. “There have been three generations of blockchain, starting with the.
Chris Skinner
MAY 7, 2019
I blogged in March (Transforming the bank – three phases of change) about the method to make systems change happen to transform the bank. In another conversation, I then realised that there are three phases of organisational change to transform the bank. The first phase is a recognition that the … The post The reason digital is a leadership challenge and not a project appeared first on Chris Skinner's blog.
Payments Dive
MAY 23, 2019
Choosing the right payment processor for your business, whether it be a retail shop, restaurant or service provider, is a critical decision that requires several major considerations, including security, PCI compliance, convenience and ease of use.
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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.
South State Correspondent
MAY 29, 2019
CREDIT MANAGEMENT No doubt, you hear all about how your competitors are winning deals because they are more aggressive when it comes to underwriting. While banks must always ask if they are taking the right risks and the right amount of risk, it is probably the competitors that you are not watching that is causing you the greatest risk. In this short article, we explore one often overlooked aspect of competitor surveillance and how this one technique can help protect your bank.
Bank Innovation
MAY 22, 2019
With hefty injections of cash and ballooning customer numbers, challenger banks are gunning for a greater share of incumbent banks' customers. They're promoting customer growth as an indicator of ongoing success, but questions loom about whether these customers are using their challenger bank accounts as their primary account and whether customer acquisition gains are being […].
PYMNTS
MAY 8, 2019
Blockchain technology is taking hold in the Southwest, with the help of organizations encouraging development in the space. A group called the Austin Blockchain Collective , for instance, is looking to establish the Texas city as a hub for blockchain innovation. “When blockchain technology is discussed, we want Austin to come to mind, just as centers like Silicon Valley, NYC, Toronto … are thought of,” Pete Harris, the organization’s co-founder and executive director, told PYMNTS in an interview
Bobsguide
MAY 29, 2019
Payments markets are changing drastically, forced by the hand of national and regional regulators as well as a technological advances driving at an incredible pace. Banks and other financial institutions are sitting up to take note. Here, bobsguide speaks with Mohammed Kateeb, group chairman and.
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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.
Chris Skinner
MAY 24, 2019
Reading about FinTech unicorns and pizzas worth $80 million, you would think that the world was bubbling over with wealth. FinTech investments last year peaked at over $110 billion, more than double the year before, and IPOs for firms like Uber and WeWorks are seeing valuations in the stratosphere. Everything … The post When will the FinTech bubble burst?
Payments Dive
MAY 16, 2019
Research confirms that cashless readers do not undermine cash sales in a vending machine. In fact, the cashless technology serves to improve both cashless and cash activity, particularly for machines doing lower volume sales.
Gonzobanker
MAY 14, 2019
What would financial institutions do if, in the next three years, 80% of servicing transactions and half of all new deposit/loan sales still being done in branches moved to digital channels? Banks have contingency plans for extreme occurrences like interest rate shock, credit turn-downs and all sorts of natural disasters. But what’s the plan in the event of a massive shift to digital?
Bank Innovation
MAY 3, 2019
You may not have heard of the term “Silicon Alley,” but I am sure you are aware of the game-changing financial technology that is emanating from it. “Silicon Alley” was initially coined in the mid-1990s as a way to group media startups housed around the Flatiron neighborhood of Manhattan. I hope that doesn’t give you […].
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The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.
PYMNTS
MAY 29, 2019
Businesses of a certain size — and in industries as varied as construction and restaurants — know the pain of wondering if they will have enough capital to fund operations, inventory, expansion and other mission-critical business activities. They know the uncertainty of going to traditional financial institutions (FIs), even those rooted in their communities, that might not want to take on the risks or economics of extending smaller lines of credit to small businesses (SMBs), with fortunes that
Bobsguide
MAY 22, 2019
Major banks are increasingly interested in commercial cloud platforms, but networks of interconnected legacy systems and concerns over data security will continue to see a layered hybrid approach, say market participants. “When we started engaging with customers, we imagined from the.
Chris Skinner
MAY 19, 2019
I’m writing more and more about Facebook launching its own cryptocurrency lately: Will Facebook become the world’s central bank? (March 2019) Will a global platform connect all of our money? (April 2019) This is because they are getting serious about payments and blockchain, after a variety of reports that they … The post If Facebook launch a cryptocurrency, will US government shut it down?
Payments Dive
MAY 2, 2019
Retailers and restaurants are reconsidering their payment policies as cities and states continue to push for legislation that would require merchants to accept cash.
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