May, 2018

article thumbnail

Do customers really want ‘invisible banking’?

Chris Skinner

Quite a few people talk about invisible banking today. The idea is that banking transactions and services should be invisible as if they are noticeable, as in visible, then that means you have pain and friction which should have been removed. A good example of invisible banking is the iTunes … The post Do customers really want ‘invisible banking’?

Examples 375
article thumbnail

Can real-time payments transform the US market?

Payments Dive

Real-time payments infrastructure officially arrived in the U.S. with the launch of The Clearing House RTP system in November. Will the technology ultimately prove to be, as predicted, "one of the most important payment transformation efforts in our industry"?

US 325
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Small Business Banking Catching Up in Innovation Race

Bank Innovation

There are quite a few lending solutions these days for small businesses -- Funding Circle, OnDeck, Kabbage, and Square Capital, to name a just a few -- but innovation and digitization are lagging in other areas, such as digital account opening. Enter Gro Solutions, a sales and marketing platform for financial institutions. Atlanta-based Gro has […].

article thumbnail

Turning To APIs To Bridge The Gap Between Old And New Tech

PYMNTS

From mom-and-pop retail shops to the world’s largest companies, nearly every business is looking to offer the latest technology to its consumers. For many in the financial services world, though, implementing innovations is easier said than done. So, what’s standing in the way of FIs, the largest of which come to the table armed with big budgets and endless resources?

article thumbnail

The State of Automation in Financial Services 2024 Report

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

article thumbnail

Financial Brand Forum 2018: 7 Takeaways in 7 Minutes

Gonzobanker

More than 1,700 industry execs descending on the Vegas Cosmopolitan getting mobile alerts like “Open Bar in the Exhibit Hall.” What could possibly go wrong? As it turns out, a LOT can go right. Financial Brand Forum , an exponentially growing event now in its fifth year – targeted at the morphing worlds of financial marketing, sales and service – is a well-oiled machine with several coats of highly buffed wax.

Branding 146

More Trending

article thumbnail

Small bank thinking

Chris Skinner

I just presented at a conference focused upon smaller banks. How can they respond to the digital change? Many of them came up with a whole load of barriers to change. Here are the things that cropped up: We have too much to do Yep, small financial firms are busy … The post Small bank thinking appeared first on Chris Skinner's blog.

article thumbnail

How cash and digital payments can coexist going forward

Payments Dive

One clear conclusion we can make, based on recent trends in the financial services industry, is that the increasing prevalence of new transaction methods does not necessarily mean that more traditional payment mechanisms are being left behind.

Payments 296
article thumbnail

Alternative Underwriting Is Helping New Lenders Reach First-time Borrowers

Bank Innovation

New entrants in the lending field are using alternative means -- cryptocurrency-backed loans to "social credit," a measure of the strength of your social connections -- to offer credit to the underbanked. Cryptocurrency HODLers and miners will soon be able to use their assets as collateral for fiat currency loans with Cereal, a Moscow-based lending platform […].

article thumbnail

More Banks See Value In Faster Payments And APIs, Finds ACI Worldwide

PYMNTS

A new survey by ACI Worldwide and Ovum found evidence that financial institutions (FIs) are more willing to open up their data via API and are embracing real-time payments initiatives. The report, published on Monday (April 30), found nearly three-quarters of banks surveyed (73 percent) said they would be willing to open up data to third-party developers via API.

Payments 179
article thumbnail

Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

article thumbnail

IBM playing key role in Canadian summit to modernize payment systems

Insights on Business

As the banking Payments ecosystem in Canada continues to expand, IBM is looking forward participating in the upcoming Payments Canada Summit , held in Toronto on May 9-11 with industry leaders, innovators and challengers. While the advances in Payments processing are clear, there still remains a number of areas where further education is necessary, additional trust and security is required, and advances made in payments technology are still needed.

System 126
article thumbnail

How incumbent banks must embrace the challenge of PSD2 and Open Banking

Bobsguide

The introduction of the Payment Services Directive 2 (PSD2) in Europe at the beginning of 2018 was the latest step on the region’s journey towards competitively fair, digital banking. With the introduction of the legislation, incumbent banks are now legally obliged to open their customer data.

Regional 121
article thumbnail

So you think Alipay is just for the Chinese?

Chris Skinner

I’ve got caught in a few discussions recently with people who tell me Ant Financial are Chinese. They’re not. Neither is Alibaba and, if you think they’re just Chinese, you’re going to miss a huge change in the next decade. Ant Financial is an open marketplace of apps, APIs and … The post So you think Alipay is just for the Chinese? appeared first on Chris Skinner's blog.

article thumbnail

Travelers increasingly turn to digital payments over cash

Payments Dive

Nav Kullar, marketing manager for NCR Payments, cites a recent Visa study about this trend with consumers traveling abroad.

Payments 334
article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

article thumbnail

Fintech Unfiltered: Chris Skinner on Ant Financial and the Global Payments Landscape [PODCAST]

Bank Innovation

Over the past few years, mobile payments has become a service that customers expect from their banks, FIs and e-commerce platforms. Most countries have their own idiosyncratic mobile payment platforms. In the US, we have PayPal-run P2P platform Venmo, and the bank-backed Zelle, among many others. If there is one overarching promise mobile payments makes, […].

Payments 268
article thumbnail

Privacy Critic Files GDPR Complaints Against Facebook And Google

PYMNTS

As Europe’s General Data Protection Regulation (GDPR) comes into effect, Facebook privacy critic Max Schrems has filed four complaints over consent required to use online services. The complaints were filed against Facebook — along with its Instagram and WhatsApp services — and against Google ’s Android, TechCrunch reported. “It’s simple: Anything strictly necessary for a service does not need consent boxes anymore,” Schrems wrote in a statement.

Google 175
article thumbnail

E-commerce fraud prompts more processors to offer chargeback guarantees

Payments Source

E-commerce payment fraud losses are mounting, giving merchants the opportunity to dump responsibility on their technology partners, but there's no surefire way to totally offload the financial hit.

Fraud 120
article thumbnail

Does fintech hype sell?

Bobsguide

Chief executive officers, chief risk officers and increasingly, chief information officers, all claim top spot in the finserv hierarchy but how important is the role of the chief marketing officer really? “It bothers me when I see a CMO placed higher than the CIO on the company’s.

Fintech 117
article thumbnail

2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

article thumbnail

When an app replaces 1200 bank branches …

Chris Skinner

I was invited to address a commercial bank this week, and they wanted me to make it specific to their strategy. In reading their strategy, I saw something that jumped off the page: new branches. Why, in the digital age, would any bank be opening more branches? I asked them … The post When an app replaces 1200 bank branches … appeared first on Chris Skinner's blog.

Strategy 327
article thumbnail

EMV, mobile ordering upgrades challenge restaurant industry

Payments Dive

New foodservice technologies — including self-order kiosks, mobile ordering and EMV-enabled payment systems — are being introduced at a rapid pace. Operators with existing POS investments need to be able to integrate new capabilities into their existing systems.

Mobile 262
article thumbnail

GDPR Is Here, But Are Banks Prepared?

Bank Innovation

General data protection regulations (GDPR), an EU privacy and data protection law, went live last week. The regulation seeks to give citizens control over their own data and unify laws within Europe, although provisions also apply to how personal data is exported outside of Europe. These new laws will impact how banks interact with consumers […].

article thumbnail

Visa ‘Hackathon’ Produces A Digital Payment Tool For Small Businesses

PYMNTS

Its name is Hermyz. Its mission, which just won the official admiration of Visa , is to move small businesses away from checks and paper receipts by migrating invoice management online. Hermyz took the grand prize and the $10,000 that came with it at last weekend’s Small Business Hackathon, an inaugural event that took place in Washington, D.C., with the backing of Visa and the U.S.

Tools 173
article thumbnail

Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.

article thumbnail

Getting back to basics: Let omni-channel engagement form the basis of your bank’s transformation

Insights on Business

Having become used to frictionless, streamlined digital services, most customers are all too aware of what superior customer engagement and service feels like. The customer-focused efforts of digital natives are constantly pushing the bar higher, while most banking institutions’ customer experiences continue to lag behind. A raft of new digital innovations have enhanced, but not yet transformed, the relationship and experience between a bank and their customers.

article thumbnail

Why are there so many cryptocurrencies?

Bobsguide

There are 1583 cryptocurrencies listed on coinmarketcap.com. That is more than all the different types of fiat currencies in the world. The question many people ask is, why are there so many of them? Just nine years ago, there was only Bitcoin. Now we have a cryptocurrency in virtually every sector.

article thumbnail

Big bank thinking and the danger of the technology testing hole

Chris Skinner

Building on Friday’s blog about small bank thinking, there’s another anomaly that occurs with big banks which is their usual response to technology is to test it. The problem with testing technology is that it is just a test. A false implementation. It is not designed for reality and can … The post Big bank thinking and the danger of the technology testing hole appeared first on Chris Skinner's blog.

article thumbnail

Perception doesn't match reality in the US payments industry

Payments Dive

Bank of America's Head of Digital Banking Michelle Moore and PayPal CEO Dan Schulman each made separate comments the past couple of weeks about the future of digital payments in the U.S. The problem is that right now, they're way off.

Industry 246
article thumbnail

Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.