February, 2019

When will Amazon launch its bank?

Chris Skinner

Name the company that strikes fear into everyone’s hearts in business? In the 1980s, it was IBM. You never get fired if you buy IBM, even though It’s a Bloody Mess. In the 1990s, it was Microsoft.

Podcast Episode 15: Banking on the Gig Economy

Mobile Payments Today

Joust CEO Lamine Zarrad carves out a unique space among fintechs by addressing the special circumstances of freelance workers

How financial services firms are using chatbot technology to transform their businesses

Insights on Business

The IBM Watson Assistant team has been busy in the past year helping clients implement state-of-the-art chatbots. The financial services industry is one of the fastest adopters of this technology. As a result, at IBM Think 2019 you’ll be able to find a number of client-led sessions.

Study Shows Strong Relationship Between Credit Score Review and Credit Score Increase

Bank Innovation

Can regularly checking your credit score actually help improve your results? We wanted to know the answer to that critical question, so Credit Sesame partnered with Megan Hunter Antill and Jessica Yu, Ph.D., candidates in Quantitative Marketing at Stanford Graduate School of Business, to find out.

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For eCommerce Content, It’s Experiences Over Speed

PYMNTS

Among the main virtues of this golden era of eCommerce and digital payments is speed. Seemingly instant access to extremely specific product pages. Quick browsing. Fast checkout and transactions — the fewer buttons the better. Have-it-yesterday delivery.

Rebeca Romero Rainey: See you at ICBA LIVE

Independent Banker

. “Tim Zimmerman embodies what it means to be a community banker.”. I’m looking forward to seeing you at ICBA LIVE 2019! We’ve been working hard to ensure this year’s convention is the best yet.

Revolut: the growing pains of a FinTech unicorn

Chris Skinner

One of the things I say fairly often is that the FinTech start-up community is fairly naïve. Not all, but many, do not understand the nuances of finance and why it is regulated the way it is.

More Trending

Calling the true innovators: Venture into the future of financial services

Insights on Business

Three years ago, banks were looking at fintechs with a wary eye. Two years ago, they were appointing chief innovation officers to dip their toes in with proof-of-concept projects or in-house incubators. Now, they are all in.

The Best Online Banks Right Now

Bank Innovation

Keeping your money in a bank is common sense at this point, but online banking is – unfortunately – not something many people have grown accustomed to, yet.

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PayPal CEO: Digital Payments To Be $100T Market

PYMNTS

There are markets and there are $100 trillion markets. And might digital payments be in that $100 trillion classification?

ID Theft Protection. Credit Union Members. Your Responsibility.

Credit Union Geek

This article is adapted from my company’s Learning Library, a source of honest insights on a range of industry challenges, products, and opportunities. It’s an estimated 13 minute read. There are two reasons why I’m cool with sharing this article here: I wrote the original.

39 FinTech Unicorns Valued at $147.37 billion

Chris Skinner

I spotted an article by Linus Beliunas on LinkedIn this week, and liked it so much that wanted to share. Enjoy! 39 FinTech Unicorns Valued at $147.37 billion 2018 was a phenomenal year for FinTech.

Restoring trust with customers in a mobile world

Mobile Payments Today

How retailers can regain trust with customers in a time of heightened risk

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GRC is front and center at IBM Think 2019

Insights on Business

Many financial services organizations are struggling to manage their risk and compliance exposure in the face of ever-increasing challenges. Massive volumes of regulations are being developed across global financial market segments.

Rob Guilfoyle, CEO of Abe AI, Joins Speaker Faculty of Bank Innovation Ignite

Bank Innovation

Rob Guilfoyle, CEO of Abe AI, will be speaking at Bank Innovation Ignite 2019 on March 11-12 in Seattle.

Visa: EMV Cuts Card-Present Counterfeit Fraud By 80 Pct

PYMNTS

Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. Merchants who have upgraded to chip technology saw a decrease of 80 percent in counterfeit fraud dollars in September of 2018 when compared to September of 2015.

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Consumers Credit Union Finds Success Blazing An “Indirect” Trail With CU Direct In Western Michigan

CU Direct

Consumers Credit Union wanted more – much more – out of its indirect auto lending program. The credit union was frustrated with the inefficient way dealer partners sent the credit union applications through many costly systems, which ended up in their separate loan origination system.

Are you in banking or technology?

Chris Skinner

I’ve had a lot of conversations with bankers and technologists, and realised something recently.

Legislators move to ban cashless payments at retailers, restaurants

Mobile Payments Today

A backlash against cashless retailers and restaurants has spurred legislation in multiple cities and states to force them to accept cash payments

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Automating is the way of the future in banking

Insights on Business

The future is here with the convergence of technologies and capabilities including AI, robotic process automation, blockchain, advanced analytics and cloud. Together, the convergence is causing major change in all aspects of our lives. Business processes are being recreated and automated; and to keep up, we need to change the way that we work and even our workplaces.

These 12 Startups Are Competing in the Demo Contest at Bank Innovation Ignite

Bank Innovation

The 12 startups demoing to try to win the “best in show” award at Bank Innovation Ignite have been unveiled. The startups are:[link] Avocado Payments, Budgit Inc., Community Capital Technologies, Denizen Financial, Diro Inc., Exagens Corp.,

The Price Of Paying With Plastic Is Going Up

PYMNTS

The costs of using some cards is going on the incline, as news is breaking that the nation’s two largest card networks, Visa and Mastercard, are preparing to up the fees charged to merchants to accept network-branded cards.

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AI, machine learning, data and Nordic banks

Chris Skinner

Last week we had our first meetings of Nordic Finance Innovation, the largest networking group in the Nordic region for people involved in finance and technology which I happen to chair. The meeting focused upon data: data usage, data analytics, data leverage and data privacy.

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Is JPMCoin a cryptocurrency and what should SWIFT do about it?

Chris Skinner

It’s not often that the Twittersphere I watch lights up in deep conversation, but a long one started last week thanks to JP Morgan’s announcement of the JPM Coin. Falsely labelled a cryptocurrency, loads of headlines emerged about JPM killing XRP, the currency of Ripple.

Wearables forge new payment partnerships, see strong demand

Mobile Payments Today

Smartwatches and other wearables are forging new partnerships with payments companies and technology partners, leading to increasing demand in the category

How do you solve a $48 billion payment fraud problem?

Insights on Business

According to recent information from Juniper Research , online payment fraud losses from e-commerce, airline ticketing, and money transfer and banking services are expected to reach $48 billion by 2023, more than double the $22 billion in losses estimated for 2018.

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To Lure Tech Talent, Fintechs Relocate, Pull Out Wallets and Dangle Cultural Perks

Bank Innovation

Established fintechs, startups, banks and tech giants alike are pulling out all the stops to attract and retain the same pool of tech talent.

ACH Network Adds More Than 1B New Payments In 2018

PYMNTS

NACHA, the steward of the ACH Network, announced Tuesday (Feb. 19) that last year was a milestone year for the ACH Network with payment volume climbing to close to 1.5 billion payments.

Infrastructure and Incentive: Making Cashless a Reality

Chris Skinner

I often reflect on how quickly China is moving towards being cashless, as are parts of Africa and much of India. I then realised that it is a strong mix of simple infrastructure and strong incentive.

Is the branch dead?

Chris Skinner

A regular discussion of mine has resurfaced in recent days: is the branch dead?

Mobile coupons drive loyalty, customer engagement

Mobile Payments Today

Retailers and others have transitioned physical coupons to the mobile space, as a way to enhance customer loyalty and engagement

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A new digital bank needs a new customer service experience

Insights on Business

Banks continue their digital transformation journey to create new business models to satisfy today’s demanding customers. The big questions is what’s next? How do banks prepare for this new reality? For Bradesco, a large Brazilian bank, NEXT is the answer. Next is a digital bank, completely disassociated from the Bradesco brand. Next has access to all of Bradesco’s ecosystem, ATMs, call center, internet banking. They use the Bradesco infrastructure, but they operate in parallel.

Accenture, nCino Make Global Push to Get More FIs in the Cloud

Bank Innovation

Consulting giant Accenture and cloud banking firm nCino are expanding the scope of their partnership beyond North America to get more financial institutions in the Asia-Pacific and EMEA markets up and running in the cloud.

Chase Going After PayPal, Stripe In eCommerce Payments

PYMNTS

JPMorgan Chase is gearing up to take on the likes of Apple Pay, PayPal, and Stripe by boosting its market share in the global treasury services industry by a goal of 50 percent.

The difference between machine learning and artificial intelligence

Chris Skinner

I often point to a banks’ executive leadership team and ask the question: who can tell me the difference between blockchain and distributed ledger? If anyone even goes there, I then ask them to tell me the difference between artificial intelligence and machine learning.

100 years of AI Life

Chris Skinner

I just picked up the London Business School’s quarterly journal, with lots of articles talking about Artificial Intelligence (AI). There are two in particular that stand out, with some interesting views.

Exposing misconceptions in payments fraud

Mobile Payments Today

In Part II of a blog series, Steve Villegas addresses how payments fraud impacts cross-border ecommerce

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