Chris Skinner
NOVEMBER 26, 2019
Interesting conversation about switching accounts. I’ve had a few people saying that banks don’t have loyal customers, but they have trapped customers. By way of example, an email from a friend: I am just exactly as loyal to my bank as they are to me, which is to say not … The post The real reason people don’t change banks appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 22, 2019
The rise of digital payments has led to a series of complex issues surrounding how to make those transactions more secure. Rapid innovation in the global payments space has created new opportunties for bad actors to expoit these new ecosystems and requires ways of thinking on how to approach the subject.
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Bank Innovation
NOVEMBER 22, 2019
Stock trading app Invstr is rolling out a series of educational tools to make investing accessible to a wider audience. The mobile-based training program is called Invstr Academy, which launched last week. It’s a move by the company to expand beyond its learning-by-doing model where users can invest with fake cash, and it beefs up […].
PYMNTS
NOVEMBER 27, 2019
The global payments ecosystem’s path to faster and real-time payments ubiquity is an evolution, not a revolution. That is to say, mass adoption will take time, and the factors driving that adoption will almost certainly continue to change and shift as end users’ needs do the same. Among corporates, there is an increasing demand that their global payment activity is able to keep up with the pace of doing business.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
BankBazaar
NOVEMBER 23, 2019
It is a commonly perceived notion that the year-end is the best time to get your finances in place. Get your money act together by making these five financial moves before the year ends. Have you been paying your Credit Card dues on time? How many new loans have you added to your kitty? How does your investment portfolio look? Have you achieved any of your financial goals?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
NOVEMBER 25, 2019
I picked up a few innovative changes taking place this week within banks. In fact, I should point out that banks are not static beasts, as many claim. They are changing all the time, doing things all the time, adapting all the time. The question is: are they adapting in … The post Are banks adapting in the right way? appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 26, 2019
With a shorter window to complete holiday shopping this year, consumers are looking to mobile retail apps to find better deals and get ahead of jammed retail outlets. Mobile wallets could see a resulting benefit as consumers look to make their ecommerce purchases as seamless as possible.
Bank Innovation
NOVEMBER 26, 2019
The holiday season comes with extra expenses for consumers, and financial companies want to help customers budget. While these efforts highlight financial planning and education, they also serve an important business objective, which is to increase user adoption and engagement on platforms. Peer-to-peer payments network Zelle, which has been active in elevating its brand to […].
PYMNTS
NOVEMBER 25, 2019
Printing company Vistaprint left an online database containing customer interactions unencrypted, according to a report. A security researcher named Oliver Hough discovered the unprotected database on Nov. 5. He reached out to the company but didn’t hear back. After the report was published, the company quietly took down the database. Vistaprint is owned by Cimpress, a company based in the Netherlands.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
BankBazaar
NOVEMBER 29, 2019
While millennials are borrowing more than pre-millennials and post-millennials, they are still conscious about how much debt they are taking up…. Did you know that India’s millennials fall in the biggest borrowers’ category within the country? Unlike baby boomers who aren’t much open to borrowing credit, recent studies have revealed that millennials are avid borrowers and spenders.
Payments Source
NOVEMBER 24, 2019
Stripe and Adyen are among the best known and most VC-friendly firms that enable quick account onboarding for gig economy supply chains — but a lot of competitors are gunning for their position.
Chris Skinner
NOVEMBER 21, 2019
My blog often seems to return to the subject of sex, whether it be sexism or basic sex. It is for the reason that money and rumpy-pumpy are the twin engines powering everything we do, as Jeremy Clarkson so succinctly put it. However, today I’m not writing about sex per … The post What would you rather talk about: sex, religion, politics or money?
Payments Dive
NOVEMBER 14, 2019
The blockbuster agreement for Citi to integrate its Google Pay wallet with Citi and Stanford Federal Credit Union's mobile checking accounts represents an evolution of Big Tech and traditional banking to offer a mutually beneficial expansion of their digital banking and payments businesses.
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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
Bank Innovation
NOVEMBER 25, 2019
Personal finance, banking and investment platform MoneyLion has named Samantha Roady chief operating officer as it makes moves to expand its customer base. Roady, who has been on MoneyLion’s board of directors since 2016, was previously a founding partner at GAIN Capital and president of its global retail brokerage business. She told Bank Innovation that her […].
PYMNTS
NOVEMBER 25, 2019
Sweden-based Detectify, a crowd-based online security company that incentivizes “elite hackers” to help developers stay abreast of security issues, has raised €21 million in a funding round, according to a report. The funding round was led by London-based VC firm Balderton Capital, with participation by Paua Ventures, Insight Partners and Inventure.
BankBazaar
NOVEMBER 11, 2019
Still using cash for all your daily payments? Here are 5 banes of handling cash that you may be taking for granted. Like dealing your money old school? Well, unlike most music, old school isn’t necessarily a good thing when it comes to money. With the digital world throwing up unlimited possibilities and more secure payment avenues, it only makes sense to dance with the change and embrace modern ways of handling money that are leaps and bounds ahead of hard cash.
Payments Source
NOVEMBER 27, 2019
Technology development speed has improved for challenger banks, but there are safety challenges from JavaScript, says Jscrambler's Rui Ribeiro.
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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
NOVEMBER 18, 2019
In the last month, there’s been a wave of announcements from Facebook, Apple, Google and Amazon about banking. We’ve seen Facebook’s major activities in trying to create a digital currency called Libra, and Apple’s move into finance with a credit card from Goldman Sachs which, in just a month, offered … The post Google, Facebook, Amazon and Co are NOT offering banking, so stop saying they are appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 19, 2019
With technology, one plus one is often greater than two. AI and video technologies complement one another perfectly, and combining them can deliver tremendous value to any financial institution.
Bank Innovation
NOVEMBER 22, 2019
As cash back rewards become expected offerings among banks and financial platform companies, Stash is offering customers fractional shares of stocks as purchase rewards when they use the Stash debit card. The subscription-based investing, banking and financial planning platform company this week confirmed that it’s offered 5 million stock-back rewards since the program’s inception five […].
PYMNTS
NOVEMBER 21, 2019
Membership in the U.S. Faster Payments Council (FPC) is growing with the addition of ACI Worldwide, as the electronic payments and banking solution provider announced this week. The company is joining the FPC to support U.S. initiatives of innovating in faster payments capabilities and promoting adoption of real-time payments. ACI Worldwide noted it already has a strong foothold in the real-time payments space, with integrations with 18 real-time domestic payment networks around the globe.
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.
BankBazaar
NOVEMBER 30, 2019
Want to ease the EMI burden on your high-interest Personal Loan? Worry not! A balance transfer is the solution! Having a tough time managing your finances? Are those Personal Loan instalments causing trouble? Well, you sure can explore other options. Like a balance transfer, for instance. With a Personal Loan balance transfer, you’ll have a fresh chance to switch to a lower interest rate on your existing Personal Loan and ease your EMI burden.
Payments Source
NOVEMBER 14, 2019
The blockchain has the potential to disrupt any industry sector, leaving in its wake a more effective system where people get to own the value they create, says PayStand's Jeremy Almond.
Chris Skinner
NOVEMBER 24, 2019
Really interesting interview here with Ana Botin, Executive Chair of Santander, on Bloomberg. It starts with talking about how Santander can make a difference on climate change with Ana claiming that the bank is voted the most sustainable bank in the world. But when the interviewer, Erik Schatzker, asks her … The post Ana Botin of Santander on FinTech and Blockchain appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 25, 2019
Open banking represents a huge opportunity for financial institutions. By creating ecosystems to develop new customer propositions and generate new revenue streams, banks will be better able to compete with third-party players and big tech like Amazon.
Advertiser: Trellis
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