December, 2019

Rebeca Romero Rainey: We resolve to support you

Independent Banker

“Our resolution is to continue to bring you the very best support for your prosperity, growth and success in the new year.”. As we enter a new year, we’re filled with a sense of anticipation for everything that will unfold in the coming 12 months.

China’s Singles Day is five times bigger than Black Friday … and it’s all down to Cloud and AI

Chris Skinner

Regular readers of the blog know that I’m a fanboy of Alibaba and their financial firm Ant Financial which operates Alipay, the major payments system of China. On November 11, they had their Singles Day jamboree.

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Black Friday sets online, mobile shopping records

Mobile Payments Today

Black Friday shopping figures in the U.S. showed more consumers embracing mobile and general online shopping for the best deals. Meanwhile average order volume increased, showing more willingness to make big ticket purchases via smartphone

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California’s fintech startups are invading New York

Bank Innovation

When two Irish brothers started Stripe Inc. together in 2010, there was little question about where they should put their headquarters. It had to be California.

Nigeria Turns To FinTechs To Boost Financial Inclusion

PYMNTS

In an effort to expand access to financial institutions (FIs), the Central Bank of Nigeria is planning to license more payment providers, Bloomberg reported on Saturday (Nov. 30). . The goal is to improve Nigeria’s financial inclusion rate by 20 percent, bringing it to 80 percent by the end of 2020.

Holiday Sales on the Dark Web

Abrigo

Key Takeaways Holiday sales, including Black Friday and Cyber Monday, are aggressively promoted by criminal sellers on the Dark Web seeking to grow sales and customers.

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More Trending

Why is Open Banking so scary?

Chris Skinner

The UK implemented Open Banking in January 2018 and now, almost two years later, you would think it’s doing really well. This is why the momentum is building.

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Four digital banking trends to watch in 2020

Mobile Payments Today

The growing phenomenon of direct, digital banking and Silicon Valley's entry into the payments business are posing a series of challenges to traditional banking institutions.

A Missouri bank is using tech to secure large deposits from public entities

Bank Innovation

Bank of Franklin County, a Washington, Mo.-based based bank with $273 million in assets, is using ‘cash sweep’ technology to gain large deposits from public funds without having to put up its own assets as collateral.

NEW DATA: Millennials Drove 2019’s Black Friday Spend

PYMNTS

What did you do the Friday after Thanksgiving? PYMNTS asked 2,000 consumers that very same question – and what they told us may surprise you. Of course, the day after Thanksgiving in the U.S. is known as “Black Friday” — the traditional start of the holiday shopping season in the U.S.

How Your Customers Want to Communicate With Your Bank

Banker to Banker

Since your bank's primary value proposition is service and you are likely striving for a superior customer experience, then it would make sense that the first stop you should make is to improve your ability to communicate with the customer.

The 5 Debates That Will Shape Fintech In The 2020s

Ron Shevelin

Debates concerning bank branches, AI, data, cryptocurrencies, and China will shape fintech in the coming decade

The Case for a Bitcoin ETF

Chris Skinner

I’ve noted that the bitcoin swings and roundabouts tend to often cycle around the hope and expectation of the US SEC giving approval to a bitcoin ETF … only to find that they never do and so it goes around.

Is cashless underserving the underbanked?

Mobile Payments Today

As cashierless shopping becomes more popular, a stark disparity is coming to light — the underbanked are getting left behind. In this blog post, Plain Green's Guy Dilger talks about the move away from cash and how some cities are fighting back

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OnDeck’s Noah Breslow on building a community business bank

Bank Innovation

Small business lending company OnDeck is expanding its ecosystem of products. Through its application for a bank charter, the company wants to become a full-service digital bank for small businesses it says are overlooked by traditional banks.

How Faster Payments And Faster Data Drive Payroll Innovation

PYMNTS

Shifting employee landscapes, changes in workers’ demands over how and when they get paid, and technological innovation have combined to open the floodgates for payroll FinTech.

The Irishman’s Guide To Bank Sales and Marketing

Banker to Banker

Throw all the facts that you want at someone, and you won’t move them to a position anywhere near the effectiveness than if you can work the facts into a story.

Prevention is the Key to Stopping Elder Financial Exploitation & Fraud

Abrigo

Key Takeaways Elder financial abuse/exploitation (EFE) is under-reported although it remains on the rise. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. . The under-reported and growing crime. Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States.

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Banking in the 1990’s … even then, the writing was on the wall

Chris Skinner

Back in 1997, I was tasked with writing a strategy for NCR. The strategy had to review the likelihood that other industries would enter banking and what threat or opportunity this offered.

Payment security in a world going mobile

Mobile Payments Today

As a rising number of consumers use digital payments to conduct ecommerce transactions, businesses need to make sure their mobile apps are secure. Customer identity and payment information is increasingly at risk as fraud actors find new ways to compromise mobile platforms

Bank of the West to launch account for eco-friendly customers

Bank Innovation

Bank of the West is currying favor among customers who care about environmental sustainability. The bank, which is a U.S. subsidiary of BNP Paribas, is launching a new checking account in early 2020 called 1% for the Planet that will show customers the carbon footprint of their purchases.

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FinServ Providers Lift Some Of B2B’s Fraud Burden

PYMNTS

As B2B fraud threats like the business email compromise (BEC) scam or internal employee theft continue to grow for businesses large and small, experts are urging business owners and executives to take the lead in combatting fraudsters.

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The 5 Big Debates That Will Shape Fintech In The 2020s

Ron Shevelin

Debates concerning bank branches, AI, data, cryptocurrencies, and China will shape fintech in the coming decade

Using BSA Hot Topics to Strengthen Your BSA Program in 2020

Abrigo

Key Takeaways Using exam findings from 2019 can help strengthen your BSA program in 2020. Institutions must create a strong culture of compliance. Pillar violations see a big increase in the nature and seriousness of the violation. . Looking back to strengthen your BSA program.

Have Yourself a Merry FinTech Christmas

Chris Skinner

So it’s the holiday season and time for some time off. I’m back on January 6th 2020. The only thing I can say is … here’s to a fantastic 2020 … the year of Doing Digital. Stop what you are doing and read this book.

Cyber Monday results shows mobile driving ecommerce train

Mobile Payments Today

A record holiday shopping performance on Cyber Monday was driven by heavy use of mobile by retailers looking to take advantage of the short holiday season

Marqeta to focus on growing product suite in 2020

Bank Innovation

If 2019 was the year of the challenger bank, 2020 will be the year payments companies move closer to bank territory.

Gusto Cites Security Concerns In Zenefits API Dispute

PYMNTS

Small business accountants have said they are now forced to manually transfer data between payroll and human resources solution providers Gusto and Zenefits after the two companies abruptly ended their application programming interface (API) integration, AccountingToday reported.

The Winners And Losers In Fintech In 2019

Ron Shevelin

As we approach the end of the 2019, it’s a good time to look back and reflect on who won and lost—or more accurately, who’s winning and losing—in the world of fintech

New Year’s Resolutions to Grow Your Financial Institution in 2020

Abrigo

Key Takeaways To book loans more quickly, institutions must create efficiencies and increase loan turnaround. Institutions must be proactive in effectively pricing loans. Looking to mergers and acquisitions, institutions can expand into new areas of business or geographic markets.

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