February, 2018

39 Top Payments Execs Tell Us What’s Next


A good forecast is a notoriously difficult thing to write – particularly if one is trying to write it about the payments and commerce ecosystem.

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Staying on brand: How to humanize virtual agents, just enough

Insights on Business

We are currently at a moment in time where virtual agents (VA’s) have become more commonplace within customer service than ever. The use of VA’s is expected to grow by 1000% by the year 2020.

The 11 Companies Announced for the Bank Innovation 2018 DEMOvation Challenge

Bank Innovation

EXCLUSIVE – Here they are. This morning, Bank Innovation officially announced the 11 companies that will be participating in its 2018 DEMOvation Challenge.

Zelle 'scam' reveals the need for consumer responsibility

Mobile Payments Today

Bottom line: don't do business with people on Craigslist unless you meet them in person

A Mission You Can Bank On

Credit Union Geek

Originally published on CUInsight.com A recent post, Giving Back Has ROI, Too, linked your charitable efforts with your growth strategy. You can do the most for all parties when your “good” aligns with your mission.

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BNP Paribas Opens Fintech Investment Fund

Bank Innovation

French bank BNP Paribas has launched a new fund to invest in fintech startups, the bank announced today. The amount of the fund was not disclosed. The fund will be managed by BNP Paribas’ Capital Partners, and will be taking minority stakes in financial services and insurance startups, the bank said.

How financial services will change in the next era of human-machine partnerships

Mobile Payments Today

Mark Baunach, global financial services consulting industry leader at Dell EMC, discusses how blockchain and emerging technologies will reshape the financial services industry over the next decade

The Five Building Blocks of the Automotive Industry Disruption

CU Direct

As with any concept, to understand disruption, and its power to either help you or damage you, let’s break it down into manageable chunks. In the business marketplace, we see disruption emerging as an increasingly powerful force in five key areas: 1. Increased customer power.

Inside the mind of Jack Ma

Chris Skinner

I am very taken by the articulate and charismatic Jack Ma. Not because he’s one of the richest men in the world, but more because of his experiences and beliefs. If you haven’t listened to his interviews and thoughts at this years World Economic Summit, then I’d recommend you take … The post Inside the mind of Jack Ma appeared first on Chris Skinner's blog. Case Studies Future Grid Opinion

How Toll Transponders Are Putting Commuter Commerce In The Fast Lane


Every workday, some 135 million Americans get behind the wheel for 15 to 30 minutes of commuting each way. In doing so, they reportedly drive $212 billion in annual commerce.

Digital transformation: How a three-phase process can fund itself

Insights on Business

Digital transformation is on the agenda of virtually every bank and insurance company in the world. Organizations everywhere, it seems, are trying to transform into more agile, efficient and competitive versions of themselves, end-to-end.

Fiserv Has Largest U.S. Marketshare of Top Bank Core Processors

Bank Innovation

Fiserv, FIS, and Jack Henry all come to mind when thinking of the top bank core processors. But what is each firm’s market share in the U.S. last year? According to data gathered by FedFis.com, the top processor is Brookfield, Wis.-based based Fiserv.

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The future of direct carrier billing in 2018

Mobile Payments Today

PSD2 in Europe has already begun paving the way for new generations of payment providers and direct carrier billing services, which are offering a more compelling customer-focused strategy, compared to the existing legacy providers

13 Orgs And Corporate Giants Testing Out Blockchains And Distributed Ledgers

CB Insights

Digitized, secure, and tamper-proof blockchain ledgers are promising to disrupt the database as we know it. Many corporations still work using a web of fax machines, handwriting, and siloed databases spread across disparate countries and contractors.

9 out of 10 blockchain trials go nowhere

Chris Skinner

I just read an interesting new report from Deloitte about blockchain. They tracked the history of 86,034 blockchain projects hosted on GitHub since 2009 to pull out “key lessons” on where the blockchain industry is going and its long-term prospects. Here are some of the highlights: More than 26,000 blockchain … The post 9 out of 10 blockchain trials go nowhere appeared first on Chris Skinner's blog. Blockchain Fintech Grid Numbers

Western Union Reports Q4 Growth, Confirms Ripple Test


Western Union reported results Tuesday that showed continued momentum in its digital business, as consumer money transfers grew on a cross-border basis. The company posted 4 percent growth in the top line to $1.4 billion, which topped the Street by $40 million, while earnings of 41 cents a share missed the Street by four pennies.

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The future of regulatory compliance converges at IBM RegTech Europe

Insights on Business

A common assumption in risk and compliance is that financial institutions typically have to spend more to meet their regulatory obligations.

Digital Banking Leads to Most Bank Branch Closings Since Great Depression

Bank Innovation

Is digital banking killing physical bank branches? How much truth is there to the longtime fear that online banking will replace consumer interaction with bank branch tellers?

MasterCard strengthens ties to mobile network operators

Mobile Payments Today

The Purchase, New York-based card network has already helped MNOs such as Vodafone Ukraine, Digicel Group in the Caribbean, Viettel Telecom in Vietnam and Taiwan's Chunghwa Telecom to roll out various services related to digital payments

5 Ways Big Data and Analytics Will Impact E-Commerce in 2018


Almost everything we do, both online and offline, is a source for data. As technology increases, the ways to measure and collect data also increase. One of the ways we understand our world is to study trends in behavior. The issue that people run into now, however, is that technology.

Regulating the cryptocurrency markets

Chris Skinner

Someone made the comment on my platform piece about what happens when there are no Jack Ma’s or Mark Zuckerberg’s, as the whole thing is decentralised? I guess that this is logical as my last line was that government control of cryptocurrencies is “not so easy for cryptocurrencies that have … The post Regulating the cryptocurrency markets appeared first on Chris Skinner's blog. Blockchain Fintech Future Grid Innovation Opinion Payments Regulation

AI Puts Fraudulent Credit Card Testers To The Test


This is not a test. Beware the credit card test. There may be no escaping credit card fraud, as it comes in one form or another. Overall, one subset of card fraud is on the rise: Last year, Radial’s eCommerce Fraud Technology Lab said credit card testing was up triple-digit percentage points on an annualized basis. Credit card testing is a way the bad guys use stolen card data to make sure an account is valid.

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Discover what the world is Thinking about open banking

Insights on Business

Open banking, or the use of open APIs to develop financial applications, is famously on the rise. A simple look at the #openbanking hashtag on twitter will give you a front row seat to the open banking conversation.

As the Dow Crashes, Betterment, Wealthfront Users Locked Out of Site, Mobile App

Bank Innovation

EXCLUSIVE—Users of roboadvisor investment service Betterment who hoped to minimize the damage of the DOW’s crash—1,500 points as of last count—are finding themselves unable to access their portfolios or even make it to the website.

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The mobile shopping experience needs an overhaul

Mobile Payments Today

Scott Voigt, co-founder and CEO of FullStory, examines the state of mobile e-commerce and the challenges still in play when it comes to delivering a robust customer experience

How AI is Transforming Business Intelligence


Today, businesses are entering into a new era ruled by data. AI, specifically, is gradually evolving into a key driver that shapes day-to- day business processes and Business Intelligence decision-making.

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Unleashing $3.7 trillion of producitivty through a mobile phone

Chris Skinner

I just hosted a couple of conferences in Africa and you cannot attend a conference in Africa without financial inclusion, mobile wallets and microfinance coming up. It’s always on the agenda and top of mind, because most Africans have been excluded from financial services to date. In particular, focusing upon … The post Unleashing $3.7 trillion of producitivty through a mobile phone appeared first on Chris Skinner's blog. Case Studies Fintech Grid Inclusion Innovation Opinion

ALDI Stores Hit With Credit Card Skimmer


ALDI , the grocery store operator, is being targeted by scammers who are installing credit card skimmers on top of point-of-sale terminals in plain sight. According to news from TechCrunch on Thursday (Feb. 8), police in Lower Pottsgrove, Pennsylvania, have pinpointed a group of thieves as the culprits. They’ve been installing camouflaged skimmers on ALDI credit card terminals right in front of surveillance cameras.

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Reimagine your business in the era of AI at Think 2018

Insights on Business

The financial services industry is at a crossroads. Faced with massively escalating data volumes, exponentially growing regulatory requirements, legacy risk and IT systems that just aren’t up to the new reality and increasing market pressure to improve performance, something has to change.

10 Most Innovative CEOs in Banking 2018

Bank Innovation

EXCLUSIVE – Everything in banking is changing: fintechs are solidifying their place in the financial ecosystem, as challenger banks, online lenders, and blockchain technology providers become essential functions to keep the industry moving forward.

Mobile payments prompt retailers, card networks to innovate

Mobile Payments Today

Karen Katz, former president and CEO of Neiman Marcus Group, and Visa CEO Alfred Kelly shared insight, expectations and strategy during a panel talk at the NRF Big Show in January on boosting the retail mobile commerce customer experience

The Future Of Banking Comes To Sunday’s Big Game


Whether their money is on the Pats or the Eagles, one thing is for sure: Football fans will be spending a lot of it this Sunday (Feb. 4), especially if they’re attending the Super Bowl in person. ATMs in and around U.S. Bank Stadium in Minneapolis will see a spike in activity with the influx of consumers for the big game. That’s to be expected for financial services company Diebold Nixdorf , which partners with U.S.

The real financial plans of the tech titans (#GAFA #BAT)

Chris Skinner

In my blog yesterday, I talked about the technology titans being liked and potentially trusted with money, but I still don’t think they will open full-service banking. Instead, I think they will focus upon full-service information. The reason I say this is that they don’t want to be banks, it … The post The real financial plans of the tech titans (#GAFA #BAT) appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid Innovation Opinion Payments Technology ValueWeb

Blockchain Must Be Easy, Secure To Drive Adoption


In 2017, cryptocurrency startups raised $5.6 billion through ICOs (initial coin offerings, a fundraising strategy by which creators of digital coins and tokens like bitcoin and Ethereum sell their tokens to investors in order to fund the currency’s launch). With so many ICOs underway, one might say the cryptocurrency space has quickly grown oversaturated – or at the very least, overwhelming. But Mobius co-founder and CEO David Gobaud wouldn’t say so.