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?

Abrigio

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.

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.

Five Ways to Build a Solid Foundation With Your Examiners

Abrigio

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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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

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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That Inexplicable In-N-Out Burger, And Marketing Stunt #Fails

PYMNTS

This week, the world was presented with a truly unusual retail mystery: The Case of the Inexplicable In-N-Out Burger. The story starts at 6:30 a.m. EST on July 20 in Jamaica, Queens, when Lincoln Boehm and his wife were heading to McDonald’s.

Opacity vs. Transparency at the Federal Reserve Stress Testing Conference

Abrigio

Last week, the Federal Reserve hosted a stress testing conference in Boston, MA. The conference brought together regulators, bankers, economists, and others to discuss the most important annual check on the stability of the banking system. The initial stress test conducted in 2009 was described as a “wartime” test meant to reassure the public that the system was solvent, and it was very effective.

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.

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.

Are transaction fee economics for payment services diminishing?

Accenture

Guest bloggers Anupam Majumdar and Arnab Sinha from our European payments strategy team provide perspective on dissecting the changing revenue fundamentals of European payments.

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.

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.

Writing Effective Credit Memos Efficiently

Abrigio

Why is writing effective credit memos so vexing? Given that a credit memorandum is one of the most critical documents in the life of the loan, it would seem like a straightforward process. However, lenders, credit analysts, and other banking staff frequently seek tips for writing better credit memos.

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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