July, 2019

Banks need a purpose other than making money

Chris Skinner

I wrote a couple of recent blogs about the issue with finding good developers and attracting them to banks. The first, about the war for talent, made the statement: the main motivation of developers joining a firm is to solve interesting problems.

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Mobile payment adoption just might be on the verge of a breakthrough

Mobile Payments Today

Despite years of hype and expectations that failed to materialize, mobile payment adoption in the U.S. may be close to a breakthrough as issuers transition to contactless cards and retailers make significant upgrades in POS systems

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Fintech Unfiltered: Huddl’s Corliss on his move from big finance to startup

Bank Innovation

At first glance, Stephen Corliss, whose resume includes senior roles at Blackrock and UBS, seems an unlikely candidate to lead a startup. But Corliss, 50, wants to use his experience from the world of big finance to help solve problems for customers of more modest means.

Monopoly Goes Cashless And Board Games Gain Popularity

PYMNTS

In this age of live multi-player online gaming, and virtual reality, and all things digital, it can be easy to think of board games as an artifact of the analog world.

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Kleptocracy – What Does it Mean to Community Financial Institutions?

Abrigo

The term kleptocracy has been used in the financial crimes profession for years, but many AML professionals do not understand its meaning and therefore are not adequately monitoring for it within their BSA/AML program. So, what is a kleptocrat?

IBM in “Leaders” Quadrant of 2019 Gartner Magic Quadrant for IT Risk Management, fourth report in a row

Insights on Business

Our goal has always been to provide our customers with the tools and insights that help them meet their governance, risk and compliance (GRC) needs, and we do so, by leveraging the innovation of IBM within a single ecosystem.

FinTech is on fire and London is burning …

Chris Skinner

A regular question that comes up is: When will the Fintech bubble burst? My claim is that it won’t under my watch, as this is as big a restructuring of banking and finance as the internet has been for commerce and trade.

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No hoodies or garages: Huddl’s Corliss on his move from big finance to startup

Bank Innovation

At first glance, Stephen Corliss, whose resume includes senior roles at Blackrock and UBS, seems an unlikely candidate to lead a startup. But Corliss, 50, wants to use his experience from the world of big finance to help solve problems for customers of more modest means.

Why Blockchain Holds Promise For Cross-Border Payments

PYMNTS

The rise of the global economy and the demand for swift and secure cross-border payments is driving the development of more efficient infrastructures, and spurring financial institutions (FIs) to experiment with emerging tech.

Five Ways to Build a Solid Foundation With Your Examiners

Abrigo

One of the most important business relationships you will have is the one you maintain between your institution and your examination staff. This is not a relationship that only needs attention during the exam process. Instead, this relationship should be nurtured by both sides on an ongoing basis.

Sales stories from the front lines: Lessons from clients in driving sales behavior

Insights on Business

Sales is the lifeblood of business.

Banks and FinTech Partnerships: a Clash of Extremes

Chris Skinner

A few years ago, I posted a guest article from Philippe Gelis, co-founder and CEO of FX firm Kantox, on Why FinTech Banks will rule the world.

Driving payments innovation in the global travel space

Mobile Payments Today

Innovations in the payments space are driving significant changes in the global travel industry.

Glint Pay launches gold-backed debit card in the U.S.

Bank Innovation

Glint Pay launched its gold trading and payment platform in the U.S. this week, part of the startup’s international expansion plans rolling out this year. Glint, based in London, offers users two separate bank accounts, one for fiat currency and one for gold.

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Hacker Arrested In Capital One Breach Affecting 100M+ 

PYMNTS

A former Amazon systems engineer working for Capital One is said to be the woman behind a breach that accessed the data of over 100 million people. Software engineer Paige Thompson, 33, allegedly boasted about the hack and left crumbs for investigators to follow, The New York Times reported.

Rebeca Romero Rainey: We stand the test of time

Independent Banker

“We stand the test of time as pillars of our communities.”. I recently attended an ICBA Services Network meeting where a group of us started reminiscing about the evolution of banking over the past few decades. We collectively wondered at how much has changed for the better.

Stop waiting to apply AI for financial crimes

Insights on Business

Challenges from financial crime incidents and penalties grow. Criminal enterprises are becoming increasingly sophisticated at the same time as new payment methods are emerging (peer to peer and faster/immediate payments) and transaction volumes are exploding.

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The end of FinTech

Chris Skinner

I’ve been involved in finance and technology for a long, long time. Originally, I was a technologist; then a financial technologist; and now a FinTech guy. However, I see the FinTech piece as being irrelevant. Whether it’s FinTech or TechFin, it’s all still just finance and technology.

As PSD2 deadline draws near in Europe, calls for delay grow louder

Mobile Payments Today

As the mid-September deadline draws closer to tighten authentication rules for commerce transactions, an increasing number of banking, merchants and payments processors say the industry is not quite ready to flip that switch

Amplify Credit Union rolls out mobile banking via Apple Watch

Bank Innovation

Amplify Credit Union is letting customers check in on their financial health by looking at their wrists. The Austin-based credit union, which has $950 million in assets, rolled out mobile banking via the Apple Watch earlier this month.

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The 4 Key Clues To Understanding The Future Of Facebook’s Libra

PYMNTS

It’s been a little over two weeks since we all got our first look at Libra and Calibra. No doubt there will be countless news stories to come, and opinions on why it will or will not fly.

Our 7 Question Test To Prevent Bad Bank Technology

Banker to Banker

BANK TECHNOLOGY DECISIONS The largest problem with bank innovation is that we see or hear about a sexy piece of technology at a conference or at another bank and then acquire it.

Accelerate sales productivity with an AI digital assistant

Insights on Business

Digital assistants today can deliver far more services beyond sophisticated call routing. Infusion of artificial intelligence (AI) functionalities adds the potential to increase seller field time, improve sales performance and help lift HR productivity.

How can you be AI with DD?

Chris Skinner

No, I don’t mean Attention Deficit Disorder, which would be ADD, but I mean Artificially Intelligent with Dumb Data.

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Brexit uncertainty causing some fintechs, challenger banks to put growth plans on hold

Mobile Payments Today

The chaos surrounding the looming Brexit deadline is causing some fintechs and digital banks to take precautionary steps

eBay accelerates payments push

Bank Innovation

eBay is pushing forward with efforts to move payments in-house instead of relying on PayPal.

Lawmakers Push To Fast-Track Crypto Regulation

PYMNTS

Are new bitcoin rules coming? According to The Wall Street Journal , “the Internal Revenue Service is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers.

Banks That Want A Strong Culture Can Learn From This Netflix Document

Banker to Banker

BANK CULTURE When it comes to corporate culture, many banks know that building a genuine and sustainable culture is like baptizing cats. It’s tough work fraught with many scratches and a lot of moving around.

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What customer complaints can tell you about your experience (and your compliance)

Insights on Business

Until recently, the words “customer experience” and “compliance” didn’t really come up in the same conversation – let alone exist in the same universe.

The 10-year-old who runs a blockchain company

Chris Skinner

I often talk about the world changing thanks to young people who can code.

Why the insurance industry has fallen behind on the digital highway

Mobile Payments Today

Insurance companies face some of the same challenges as incument players in the finance industry, yet have been slow to adopt to the needs of consumers in an increasingly digital-first environmnent

Startup Branch wants to build a money services platform for hourly workers

Bank Innovation

With the growth of digital finance tools, a group of startups is looking to reach those who may be left behind, namely hourly workers.

How Visa’s Using Blockchain Tech To Simplify X-Border Payments

PYMNTS

Global payments revenues are at an all-time high, and experts predict that they could even climb to be a $2 trillion industry by 2020. Cross-border payment revenues currently account for approximately $200 billion, a significant slice of the payments pie. Currently, there are 0.7

How To Give Borrowers 30 Years of Amortization In 25 Years

Banker to Banker

LOAN STRUCTURING HACKS One battle currently waged in the banking industry is amortization terms and interest-only (IO) periods. Borrowers often have legitimate needs to extend the principal repayment on term loans to 30 years.

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Case study: Driving effective sales performance with today’s SPM solutions

Insights on Business

Organizations are fast realizing the value sales performance management (SPM) solutions are bringing to the table in terms of increased sales performance and operational efficiencies.

The UN’s SDG’s, FinTech and Banking

Chris Skinner

Due to various connections, I was asked to deliver the opening keynote speech at the United Nations High Level Political Forum last week (some coverage here). It was one of those rare occasions where I got nervous, looking out at the faces of dignitaries from nations all over the world.

Visa invests in Indonesian payment, ride hailing app Go-Jek

Mobile Payments Today

Go-Jek has evolved into a super app of sorts. It began as a ride-sharing, but now allows its customers to make online payments for food, groceries and a plethora of other services

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