September, 2019

We’re just a technology company that happens to have a banking licence

Chris Skinner

I hear this a lot, and don’t like it. Many banks say it these days, and they say it to be cool. To be like a start-up. To be like a Silicon Valley angel investment firm. To be like a young, FinTech unicorn.

JPMorgan Chase exec sees digital banking, branch experience working as one

Mobile Payments Today

Marbue Brown, the head of customer experience at JPMorgan Chase, told attendees at the annual BCX summit that millions of people want a combination of the speed and sophistication of digital banking along with the human interaction and financial wellness provided by a physical bank branch

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10 Ideas For Our Bank We Got From Wegmans

Banker to Banker

LEARNING FROM NON-BANKS Last week we tagged along with The Bank of Charles Town (BCT) crew who, like us, are heavily believers in “cultural tours.” BCT used a series of these tours to kick off their strategic planning season with the purpose of grabbing ideas that could spark creative thinking.

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Plugging leaks: Bento for Business uses tech to help clients streamline payments

Bank Innovation

As consumer payments go digital, startups and banks now are focusing on digitizing business-to-business payments, an area where small business owners still are reliant on paper checks and a multitude of expense-management tools.

Burger King Now Accepts Bitcoin


You want fries with that crypto? Might have to wait a bit, especially on the international stage. For some, bitcoin and cryptos — beyond a means of speculation — are a solution in search of a problem.

Gig Economy Banking Is Booming (And Banks Are Missing The Boat)

Ron Shevelin

The changes in how we work are creating needs and opportunities across a wide range of products and services, not just financial services. But banks are watching this opportunity slip through their fingers


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Digital banking made strong gains in UK market during first half of 2019

Mobile Payments Today

Digital banking is growing rapidly in the U.K., as challenger banks are gaining share among non-millennnial users and winning over customers with strong customer service.

Rebeca Romero Rainey: We flourish in times of change

Independent Banker

“When community bankers join their voices, they are a powerful force, taking the industry to new levels.”. We’re in a season of unprecedented industry change, particularly when we look at faster payments.

Digit to focus on automation as it evolves its future plans

Bank Innovation

Digit, a personal finance app that helps users save automatically, raised $27.5 million in Series C funding on Monday. The new financing will help Digit grow its user base; hire new talent in San Francisco; and grow its core product, a spokesperson for the company said.

Western Union Enables Real-Time Account-To-Account X-Border Payments For Banks, Digital Wallets


Western Union’s history as a retail cross border remittance platform is moving money between people, largely via cash, within minutes.

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Enough With The 'AI-First' Hype!

Ron Shevelin

Banks no more need an AI-first strategy in 2019 than they needed a COBOL-first strategy back in 1959

The Purpose-Driven Bank

Chris Skinner

Building on my recent updates on sustainable finance and such like, it is interesting the word purpose consistently appears throughout the sub-text.

Why the insurance industry should prioritize digital payments

Mobile Payments Today

The insurance industry needs to consider how their payments technologies match up with increasingly disruptive trends in the financial services space

How Financial Education Quantitatively Helps Banks

Banker to Banker

THE ECONOMICS OF FINANCIAL LITERACY Many banks put financial literacy education squarely in their Community Redevelopment Act (CRA) effort using the mindset that financial literacy is an affliction of low-to-moderate income households. The reality is, financial illiteracy affects us all.

With Wirecard, UnionPay takes aim at Visa, Mastercard

Bank Innovation

China’s UnionPay, the world’s largest card issuer with 57.6% of the world’s payment cards in circulation, has global ambitions.

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Data Breach Leaks 198M Car Buyers’ Personal Data


A massive data breach has compromised the records of 198 million car buyers. Jeremiah Fowler, a senior security researcher at Security Discovery , discovered the breach after coming across the same 413GB dataset multiple times. “It

Data 282

Can Apple Or Amazon Become Full Stack Banks?

Ron Shevelin

Becoming a full stack player in an industry can give a firm a strong competitive advantage. In banking, fintech startups aren't well-positioned to become full stack. Could Apple or Amazon pull it off

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A start-up’s month is a banker’s decade

Chris Skinner

I’ve heard many ex-bankers who joined a FinTech start-up, challenger bank or similar, say that they’ve achieved more in the past year than in the past decade. They claim to have achieved more with £1 million than they would have achieved before with £100 million in a bank.

How U.S. retailers can benefit from strong customer authentication in Europe

Mobile Payments Today

While Strong Customer Authentication does not apply directly to U.S. merchants, there are significant implications for retailers that have operations in Europe and gaining a SCA delegation can provide significant benefits

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The challenge of managing hundreds of daily GRC alerts

Insights on Business

Today we are inundated with alerts, breaking news, celebrity scandals and what their neighbor had for lunch. The feeds are not limited to one medium; your computer, your television, your phone, your tablet and now even the watch you wear on your wrist.

Inside Citi Ventures’ approach to finding talent

Bank Innovation

Citi Ventures, Citbank’s corporate venture arm, is turning to startups that can solve pain points for incumbent banks and financial companies.

Passage Of SAFE Banking Act Gives Cannabis Businesses Access To Banking


The U.S. House of Representatives passed H.R. 1595, known as the Secure And Fair Enforcement (SAFE) Banking Act, on Wednesday (Sept.

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3 Questions From Kat Cole To Make Your Bank Better

Banker to Banker

BANK PERFORMANCE For her sheer authenticity and clarity in thinking, Kat Cole remains one of our favorite corporate leaders in America. We met her at the ICBA a couple of years ago and just saw here last week at the ABA Marketing Conference. She did not disappoint.

What does inclusion mean?

Chris Skinner

I’ve been reflecting for a while on the shift of power from America to China, as those who read my musings will know. This is typified by the latest Netflix offering American Factory, backed by the Obamas.

HSBC exec says innovation will separate winners in financial services

Mobile Payments Today

Banks have been in the transactional business for far too long, says Jeremy Balkin, head of Innovation at HSBC Bank USA. "We We are in the financial services business; service is an experience — and that's not easy for banks to wrap their heads around

GRC is Everyone’s Business

Insights on Business

In my May 2019 blog, “Has GRC Reached Its Tipping Point? Observations From The Front Lines” , I described a set of common patterns that are driving business initiatives in Governance, Risk & Compliance.

Square is growing its platform into a one-stop shop for retailers

Bank Innovation

Square, which is best known for its physical and digital payment solutions, is building out its product ecosystem to manage nearly all of the operational needs of retailers.

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What The Trendsetters Say About How We Will Pay Next Decade


Sheep are not natural-born leaders. If they were, they wouldn’t need border collies or sheepherders to make sure that they didn’t follow wolves blindly into harm’s way and that they ended up where they needed to be at the end of the day.

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How Your Bank Approval Process Hinders Innovation

Banker to Banker

If you want a more innovative bank, it starts, and largely stops, with what your approval process looks like for new technology. Take a human and force them to grow up in New York City. Around age 20, you force them to go to conferences on living in the outdoors, hunting, fishing, and survival.

Ripple offer SWIFT an olive branch

Chris Skinner

Almost every day, there is an announcement of a new payments innovation.