Bank Innovation
APRIL 7, 2017
The world’s first venture capital fund raised with digital coin offering has gained its first round of investors, including executives from Bloq and Civic. Blockchain Capital, the first venture capital firm to focus exclusively on DLT technology is offering digital tokens that represent a stake in the firm’s third fund. The tokens are held on the Ethereum blockchain […].
Chris Skinner
APRIL 25, 2017
I have no academic papers or historical research view on what I’m about to post, although I will find some, but I was reflecting on my discussions of revolutions in humanity. In particular, the second age of humankind, when we invented money as a control mechanism. Before this seismic change, money didn’t matter. We shared beliefs that allowed us to live together in relative peace, but the creation of money changed the balance of humanity.
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Payments Dive
APRIL 4, 2017
Changes in consumer behavior continue to be rapid, disruptive, and largely driven by technology influences, such as mobile devices, big data, the cloud, IoT and machine learning.
PYMNTS
APRIL 25, 2017
Chatbots have moved into a unique position over the past few years. Rather than using chatbots to resolve customer service issues solely on company websites or for inside use at organizations, businesses have begun branching out to help optimize both internal and external organizational needs. While chatbots may be traditionally thought of as the standard instant message chat windows, they have evolved to meet the needs of today’s fast-paced consumer.
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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
Insights on Business
APRIL 28, 2017
Not so many years ago, “Bankers’ Hours” was a pejorative term meaning any job with a short work day. Today, bankers’ hours are much more customer oriented. With few exceptions, “banking hours” are becoming 24/7/365, or whenever and wherever a customer wants to do banking. Traditionally, banking was a conservative industry with relatively high barriers to entry.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
APRIL 26, 2017
What’s hot in fintech? Regtech, insurtech, real estate, robos — all of those (and more) have enjoyed the fintech spotlight recently, with impressive startups on the leaderboard. Six of those startups took the stage at the Empire Startups Fintech Conference yesterday to demo their latest and greatest. Checkout the lineup of the hottest startups below.
Chris Skinner
APRIL 18, 2017
A banker and I were talking about the function of a bank. He gave me the classic view: “A bank is there to take people’s money and lend it out at a profit, whilst ensuring the risk of non-payment is minimised” No it isn’t, I said. I pushed the view that the bank is there as a trusted store of value. The lending part is now no longer important, as that can be done through alternative media such as peer-to-peer lenders.
Payments Dive
APRIL 13, 2017
Retailers are inundated with new technology innovations, promising big returns for their bottom lines. It is difficult to decipher which deserve priority. However, few innovations have been able to match the benefits of augmented reality in retail.
PYMNTS
APRIL 12, 2017
Are the stars aligning for companies to make API investment a top priority? The April B2B API Tracker™ looks at how companies engaged in cross-border trade are turning to API solutions to reduce the friction that some players encounter when engaged in cross-border trade. A Passport to Simpler X-Border B2B Payments. Over the past few weeks, several companies made investments in APIs with a focus on improving the flow of cross-border trade.
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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
Insights on Business
APRIL 28, 2017
The banking industry is undergoing a paradigm shift in terms of adopting cognitive computing into all of its facets. It’s amazing to hear the conversations and see the pilots in which clients are exploring “art of the possible” with cognitive. With the rich data financial services clients hold this is a natural evolution for the industry. The pressure of innovation — driven by the Fintechs — is another factor driving cognitive adoption and moving the industry towards a new way of wor
Bobsguide
APRIL 12, 2017
Innovate Finance brought together industry leaders, fintech start-ups and financial services experts on April 10th and 11th in London to discuss the future of fintech, the latest blockchain technology development, and how innovation will shape the future. Kicking off the conference, Lawrence.
Bank Innovation
APRIL 25, 2017
The pay-as-you-go model of SaaS — software as a service — has certainly gained traction in the world of banking. SaaS has helped banks and other traditional financial institutions to take advantage of apps or software offered (commonly) by fintechs, without having to buy or build out the technology. But as fintechs are getting bigger, […].
Chris Skinner
APRIL 24, 2017
I’ve just spent the last three weeks travelling around too many places to mention, including Germany, UAE, UK and three very different countries: Argentina, Colombia and Pakistan. Argentina is a huge and diverse country of over a million square miles, and a population of 40 million; Colombia is one of the world’s most ecologically diverse countries, comprising 440,000 square miles and a population approaching 50 million; and Pakistan is just over 340,000 square miles with a population bursting o
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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.
Payments Dive
APRIL 20, 2017
Major financial institutions such as JP Morgan are finishing up blockchain technology pilot tests and other businesses are starting to jump on board, as well. But is blockchain tech worth the hype?
PYMNTS
APRIL 20, 2017
Facebook’s annual developer conference F8 is seeing its fair share of chatbot integration announcements. Now the fashion world is taking center stage as both Rue21 and mode.ai announce their plans for a virtual stylist offering through Facebook’s Messenger app. While Rue21 is working with artificial intelligence–driven shopping bot provider mode.ai to take advantage of Facebook’s newly launched Chat Extensions feature, mode.ai also announced its plans for its own integration.
Insights on Business
APRIL 13, 2017
The average consumer interacts with customer service 65 times in a year. That adds up to more than 270 billion service calls made on an annual basis. Multiply that by an average cost of about $1.00 a call, and you’ve got very big problem for global businesses. Further, 33% of Millennials are only willing to wait 1 – 3 minutes to get a desired response, 52% have hung up on a customer service call, and 56% of Millennials have switched from one company to another because of underwhelming customer s
Bobsguide
APRIL 18, 2017
The Second Payment Services Directive (PSD2) is a fundamental piece of payments legislation in Europe, which entered into force in January 2016. The regulation is set to drastically impact the infrastructure for banks, fintechs and businesses using payments data by opening up access to third party.
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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.
Bank Innovation
APRIL 12, 2017
It’s crucial for banks to start participating in the finance revolution, especially as millennials are on the hunt for open banking—at least, according to bankers. According to a survey of 300 banking officials, conducted by Marketforce and Earnix, developing open APIs is becoming more and more crucial to retaining customers. In fact, 80% of the […].
Chris Skinner
APRIL 27, 2017
I have a keynote coming up on May 19 in Amsterdam with The Next Web, who I regularly write a column for now. Here’s my latest one: I’m delighted to be speaking at TNW on May 19 in Amsterdam. I wanted to talk about Digital Human, the theme of my next book, but the guys want me to talk about banking and finance and money, as that’s why they asked me.
Payments Dive
APRIL 25, 2017
Mobile payment platforms debuted amidst tremendous buzz. Although the platforms launched successfully, most consumers continued to use traditional payment methods, pushing business owners to delay their mobile-first strategies to a later date. But that is changing and retailers need to be ready.
PYMNTS
APRIL 28, 2017
Good news emerged from the U.S. venture capital sphere this week: VC funding for FinTech startups in Q1 alone hit $1.2 billion, found a new report from KPMG. Analysts said the industry has seen its highest venture capital activity since Q1 of 2016, fueled by focus on late-stage investment rounds. “The U.S. leads the rest of the world in the total value of FinTech investment due to the large amount of funds available to invest in the market, with investors focusing on late-stage, clear front-runn
Advertiser: Data Robot
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.
Payments Source
APRIL 21, 2017
As marijuana legalization spreads throughout the U.S. and the world, companies in the cannabis market must navigate a delicate tangle of new and old regulations. And many payment providers are unwilling to risk working with dispensaries, leading to some inventive workarounds.
Bobsguide
APRIL 18, 2017
The last decade has brought with it sweeping changes to the financial industry that has made it increasingly difficult and costly for banks, money services businesses (MSBs) and other financial institutions to fulfill their anti-money laundering (AML) compliance requirements. Under pressure from.
Bank Innovation
APRIL 11, 2017
Is your financial institution working on API initiatives? Tell us more! For the third consecutive year, Bank Innovation has teamed up with Open Bank Project and (this year) the University of Warwick, to conduct a research survey on how financial institutions worldwide are prioritizing API initiatives in 2017. The query is digital and we invite industry participants to […].
Chris Skinner
APRIL 11, 2017
I blogged recently about American banks beating up the regulators to stop account access via APIs. I heard this in various White House meetings in 2016, and assumed all banks and bank people felt the same way. Well, they don’t. Citi’s head of FinTech Policy, Andres Wolberg-Stok, got in touch to clarify the true situation. Here is his response … Dear Chris I don’t know of any facts to support the assertion that “In the USA, there is a move by the big banks to get Washington
Advertiser: Trellis
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