Chris Skinner
APRIL 15, 2019
I picked up an interesting article from Reuters, about how Asian technology firms are moving into banking in a different way to Europe or America. The article says that Amazon and Alphabet / Google are far more interested in serving banks with cloud and advertising, rather than competing with them, … The post Why Chinese TechFin is the exception and not the rule appeared first on Chris Skinner's blog.
Payments Dive
APRIL 12, 2019
Mobile payment acceptance is leading to rapid change in the restaurant industry, impacting everything from credit card use to delivery and online ordering as well as customer loyalty.
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Bank Innovation
APRIL 4, 2019
AMSTERDAM -- The algorithms are starting to add up at Temenos. The Geneva, Switzerland-based banking technology company will add up to 15 algorithms for artificial intelligence before yearend. This goes with the 20 or so AI algorithms the company already has available for its clients. Not all of those 20 algorithms, however, are available for […].
PYMNTS
APRIL 8, 2019
Hundreds of thousands of new small businesses (SMBs) open their doors every year in the U.S., be them physical or digital. The latest estimates from the Small Business Administration (SBA) peg the number of new SMBs at 414,000 each year, spurring job creation and economic growth for the country, with millennial entrepreneurs at the helm. The high failure rate of a new small business has entrepreneurs focused on simply surviving their first few years in operation.
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Bobsguide
APRIL 12, 2019
Banks are increasingly turning to machine learning to innovate heavily manual and costly middle and back office mission critical compliance management processes, say market participants. “Banks are already in a period of change, mostly in the more business- driven activities in the front.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
APRIL 16, 2019
When I talk about FinTech, I often reflect on the first time I encountered what I would, today, call a truly FinTech firm. It was on March 30, 2005, and a newly formed firm presented at the Financial Services Club an idea. The idea was to connect people with money … The post Will a global platform connect all of our money? appeared first on Chris Skinner's blog.
Payments Dive
APRIL 23, 2019
Consumers want to see more options in the payment methods available at the gasoline pump. This presents opportunities and challenges from the stanpoint of introducing mobile payment options, while maintaining the security of transactions.
Insights on Business
APRIL 8, 2019
You’re probably familiar with philosopher George Santayana’s admonition: “Those who cannot remember the past are condemned to repeat it.” While that’s hard to dispute, most of us will admit to occasionally falling short. And when we do remember not to forget, we don’t always question history in a meaningful way. A recent survey of a range of businesses by SalesGlobe, found that the sales quota-setting process is challenging.
PYMNTS
APRIL 10, 2019
With the use of contactless payments heating up around the world, small and mid-sized businesses (SMBs) and their solution providers have to prepare for their acceptance. Mobile point-of-sale (mPOS) terminals that are enabled for contactless have to meet certain specifications to gain EMVCo 3.0 certification: They must, for instance, resolve issues when a payment reader’s too-powerful field strength results in damaged smartphones and cards.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Bobsguide
APRIL 2, 2019
For digital transformation to be a success, collaboration is crucial. While technology enables new ways of working, collaboration is the key catalyst to moving the dial on digital transformation programme success. Digital-first, customer-centric financial institutions that have achieved harmony.
Payments Source
APRIL 22, 2019
JCPenney ended support for Apple Pay in its stores and also removed the mobile payment option from its app, a surprising reversal for a brand that offered Apple Pay in 2015, within a year of its rollout. There are multiple factors in play here.
Chris Skinner
APRIL 30, 2019
One of the surprises I have had in my discussions with banks that are doing digital well, is how all of them seem profoundly committed to cloud-computing. Some more than others, as one of the banks I spoke to wants to achieve over 80% of their IT infrastructure, software and … The post Banking in the Cloud appeared first on Chris Skinner's blog.
Payments Dive
APRIL 11, 2019
The move by Amazon to reverse policies for its cashierless Amazon Go stores is being seen as a response to growing economic and political pushback against the impact of Silicon Valley on major segments of U.S. and global societies.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
Ron Shevelin
APRIL 15, 2019
To date, talk of open banking in the US has been nothing but pipe dreams. Many people like to say that data is the new oil. Is oil a resource easily--and freely--shared between those who want it? Of course not. So why would data be easily and freely shared? It won't.
PYMNTS
APRIL 9, 2019
Security researchers at Kaspersky Lab revealed at the Kaspersky Security Analyst Summit in Singapore that a dark net marketplace in which hackers are selling digital fingerprints has emerged. According to a report in ZDNet , Kaspersky Lab said at the summit criminals are selling the digital fingerprints of more than 60,000 individuals. Dubbed Genesis, the marketplace emerged in the fall of last year when the creators started advertising it on forums where hackers sell payment card details they’v
Bobsguide
APRIL 17, 2019
In an era of digital transformation - not to mention a lot of economic and regulatory change - things are moving quickly. For many financial services organizations this means unprecedented pressure to innovate to remain relevant and competitive. And the results are starting to show: in.
Payments Source
APRIL 17, 2019
CV Systems’ COO Randy Schmidt, BHMI Chairman Jack Baldwin and Mickey Goldwasser, vice president of Payrailz, discuss challenges and opportunities, for faster payments, back office gaps, and cross-industry cooperation.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
Chris Skinner
APRIL 2, 2019
I find it interesting when I read perspectives on FinTech, money and banking. Going digital, getting rid of branches, becoming cashless seem to be the main themes, and yet this ignores that every part of the world is different. It’s hard to go digital if the country has little infrastructure; … The post Time for a global FinTech platform? appeared first on Chris Skinner's blog.
Payments Dive
APRIL 9, 2019
Envel uses artificial intelligence and machine learning to help young adults control their spending, manage their expenses and save for a rainy day in a way that traditional banks can't or won't for this segment of the market.
Gonzobanker
APRIL 3, 2019
If consumers can get constant access to services and purchase through their computers, mobile devices and smart home technology, it follows that they would expect a similar level of connectivity (for service, advice and purchases) from their financial institutions. Most of the time, self-service on-demand is more convenient because it’s on the customer’s terms.
PYMNTS
APRIL 3, 2019
It may seem that cross-border payments were in the … well … crosshairs this past week, with a number of country-by-country and company-by-company initiatives using blockchain and other methods to speed payments and lower fees. In Myanmar, Shwe Rural & Urban Development Bank has partnered with Krung Thai Bank, which is state-owned, to debut a cross-border transfer money offering that is in turn tied to the Ethereum blockchain.
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The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.
Bobsguide
APRIL 5, 2019
Open Banking is being forced onto consumers when they haven’t been taught what the benefits might be, and banks must take responsibility for educating their customers before widespread adoption can be expected. “We need to remember a few things about customer demand,” said Simen.
Payments Source
APRIL 4, 2019
As the consumer payments technology market is becoming saturated, B2B payments have captured the attention of the investment community, writes Karla Friede, CEO of Nvoicepay.
Chris Skinner
APRIL 4, 2019
I find life interesting. Themes recur over and over and over again. Will big banks survive? When will we, will we be cashless? Oh when, will we, will be branchless? Can we really replace the City with a trading network of algorithms? And more. One of my favourite recurring themes … The post Who owns the data? Who’s in control? appeared first on Chris Skinner's blog.
Payments Dive
APRIL 30, 2019
Retailers need to consider shedding their legacy POS systems to enable mobile payment acceptance, business analytics, EMV security and better inventory management.
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