Bank Innovation
MARCH 21, 2017
A quick, seamless API for wealth management customer authentication and data aggregation may not fix all of SoFi’s problems, but it certainly helps. The alternative lender demoed its new Authentication API, built in partnership with Quovo, a financial data aggregator for wealth management, at the FinDEVr conference today. “What’s important to call out is the combo […].
Chris Skinner
MARCH 22, 2017
I blogged a year ago about TechFin, the incumbents’ view of applying technology to existing banking services, versus FinTech which seeks to transform the financial system. That has become one of the top search terms to find my blog, as it turns out, mainly because my blog entries are the first to be returned when searching for techfin. Interestingly that third one claims that Jack Ma, some guy from China, coined the term first, ten months after my blog entry.
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Payments Dive
MARCH 17, 2017
If 2015 was a defining moment for mobile use in retail, then 2016 showed the industry what is possible as merchants continued to fine-tune their app experiences for consumers. And they will continue along that path well into 2017 and beyond.
Abrigo
MARCH 9, 2017
Guest Post By Paige Chapel, President & CEO, Aeris Most banks recognize that their enterprises can only thrive if their customers also do. And to thrive, those customers need economically diverse and healthy communities in which to live and work. Partnering with local organizations to promote the health of those communities is often a top priority for banks.
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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
PYMNTS
MARCH 17, 2017
Financial software firm Misys had a bit of a roller coaster year in a market constantly in flux. The U.K. company canceled its IPO last October, citing “ current market conditions” as its reason behind deciding not to pursue an estimated $7 billion float on the London Stock Exchange. Those market conditions present interesting obstacles and opportunities for everyone in the banking FinTech space.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
MARCH 17, 2017
Banks are entering what could well be a Golden Age — deregulation, rising interest rates, and a bevy of fintech startups eager to hop into bed with them. Will they take advantage of this fintech opportunity? “Banks now have the capital to put to work and invest in growth after a long period of cost-cutting,” […].
Chris Skinner
MARCH 7, 2017
I’ve just been alerted by friend Gijs Boudewijn to the release of a fascinating white paper by BIS, the Bank for International Settlements (the guys who do Basel stuff and are big cohonez in banking circles). Their Committee on Payments and Market Infrastructures released Distributed ledger technology in payment, clearing and settlement: an analytical framework last week, and I just read it.
Payments Dive
MARCH 16, 2017
Does the consumer-controlled checkout Amazon Go offers hold revolutionary potential, or is it a blip on the radar before a newer, hotter trend dominates the popular narrative? In reality, it's a bit of both.
Insights on Business
MARCH 10, 2017
It’s common knowledge that all generations have not sufficiently planned and saved for retirement. Wealth management firms have been scrambling to encourage more planning and saving, but many of these efforts are likely to fall short of their objectives. Why? In a recent survey, IBM found that pre-retirement individuals of all ages are “too jammed to plan.” Close to two-thirds of survey participants feel they have not been sufficiently involved in retirement planning, and of
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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
PYMNTS
MARCH 4, 2017
The B2B payments industry is finally beginning to hustle when it comes to technological innovation. And as traditional financial institutions (FI) begin to recognize the value of collaborating with FinTechs, these banks can similarly shake their reputation for being innovation laggards and promote B2B payments progress while they’re at it. . This industry is on the cusp of some major innovation, too, as FinTechs roll out services that banks can offer to their own customer clients via APIs.
Bobsguide
MARCH 12, 2017
Anders la Cour, Chief Executive, Saxo Payments. The global transaction banking industry is experiencing one of the biggest shake-ups it has seen in decades. Non-bank tech disruptors such as Bitcoin and the blockchain, the eastward shift in global economic power, low-interest earnings in developed.
Bank Innovation
MARCH 10, 2017
SAN JOSE, Calif. — Chatbots and IoT could reach the fullest impact on the banking world by working within the existing financial infrastructure, instead of trying to disrupt it, according to an expert panel at Bank Innovation 2017. These technologies should be thought of as additional channels connecting consumers, clients, and issuers to the financial […].
Chris Skinner
MARCH 14, 2017
I was asked this question at a recent conference and yes, banks do believe that the mass poor are just that: poor. How do you make a profit out of the poor? Well, truth be told, the poorest are the most profitable. They’re the ones who need loans and go overdrawn, and therefore pay all the fees for the rest of us – the mass affluent – to get our banking for free.
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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.
Payments Dive
MARCH 10, 2017
Every ATMIA conference has its trending topic du jour. This year, the buzz was about cardless ATM transactions, a subject addressed in a well-attended 1-hour roundtable discussion among executives leading the charge to a card-free future.
Payments Source
MARCH 7, 2017
Curiosity may not be the best approach for a cat, but Christine Larsen finds it to be a lifesaver in her role as executive vice president and chief operations officer for First Data.
PYMNTS
MARCH 8, 2017
With hundreds of billions of dollars changing hands each year, B2B banking and payments is a big, big deal. According to industry research, the B2B payments industry moves roughly $550 billion each year, making up roughly half of the $1.2 trillion global payments market. . Despite all that exchange of funds in the B2B market, the banking industry has a reputation for being a bit behind the times technologically — and it may be justified.
Bobsguide
MARCH 6, 2017
David Poole, Business Development Director, MYPINPAD. Identity and verification are interlinked concepts which have a critical role in the continued digital evolution of retail banking. From showing photographic ID to completing a transaction in person, to demonstrating proof of address when.
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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.
Bank Innovation
MARCH 14, 2017
Mobile apps for bank employees are just as valuable as those for customers. At least that’s the idea behind IBM’s MobileFirst for iOS app suite — apps, designed specifically for bank employees in different sectors, including corporate, private and retail, SME, and others. To create the suite – intended for various industries in addition to banking – IBM first […].
Chris Skinner
MARCH 21, 2017
I blogged recently that there is around $1.6 trillion of money laundering globally and less than 2% is caught by the financial system. That’s a stunning amount and makes you wonder why our system is so awful. Much of it is down to the fact that account openings depend upon physical documentation and human checks. If we could digitalise the whole process, it could be tightened up immensely.
Payments Dive
MARCH 7, 2017
Fraud remains a risk that mobile payments providers, as well as consumers, need to be aware of and take measures against.
Payments Source
MARCH 7, 2017
In high school, Kara Kazazean joined the marching band and competed to be a leader for the clarinet section. As part of the selection process, aspiring section leaders participated in a rigorous leadership training program.
Advertiser: Data Robot
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.
PYMNTS
MARCH 24, 2017
Payment solutions company Payline Data is the latest to launch an API for other businesses looking to process payments. The company announced this week that it is rolling out Payline I/O, a payment facilitation API for developers to integrate Payline solutions into their own tools. Payline I/O is offering a developer sandbox for developers to test out the solutions they create before they deploy them for real-world use.
Bobsguide
MARCH 22, 2017
Dagan Osovlansky, Group Leader, Product Management, D+H. Software-as-a-Service (SaaS) is now a standard delivery model across many industries—even financial services firms, representing a major shift in perspective. The payments space, in particular, shows signs of further evolution of.
Bank Innovation
MARCH 24, 2017
Major banks are getting increasingly comfortable with the idea of open banking. For Citi, the open banking initiative was marked by the launch of its global developer hub in November of last year. The hub was initially supported in three countries – the U.S., Singapore, and Australia – but has quickly spread to five more […].
Chris Skinner
MARCH 15, 2017
Building on my challenger bank discussions, there’s some interesting points coming out of a new report by Price Waterhouse Coopers (or Playing the Wrong Cards as they’re now called, after the Oscars) on challenger banking. It’s well worth a read, especially as they found that having branches is more important than mobile apps. The survey showed that 68% of consumers thought a bank branch was essential when opening a new current account, compared with 25% who favoured a mobile app.
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