Chris Skinner
SEPTEMBER 1, 2019
I was talking with a CXO of a bank. They are actively engaged in ‘going digital’, but she was sharing with me that the bank’s executive team had no idea what going digital means. Being brutally honest, she told me she had no idea what it means either. I was … The post We just haven’t got a clue what to do! appeared first on Chris Skinner's blog.
South State Correspondent
SEPTEMBER 4, 2019
LEARNING FROM NON-BANKS Last week we tagged along with The Bank of Charles Town (BCT) crew who, like us, are heavily believers in “cultural tours.” BCT used a series of these tours to kick off their strategic planning season with the purpose of grabbing ideas that could spark creative thinking. Almost every time we debate if it makes sense to put the crush of our To-Do List on hold for a day and spend time at an unrelated industry.
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Payments Dive
SEPTEMBER 3, 2019
Digital banking is growing rapidly in the U.K., as challenger banks are gaining share among non-millennnial users and winning over customers with strong customer service. The report warns, however, that few of these upstart banks are actually turning a profit and the pace of growth cannot continue at the same pace forever.
Bank Innovation
SEPTEMBER 4, 2019
Square, which is best known for its physical and digital payment solutions, is building out its product ecosystem to manage nearly all of the operational needs of retailers. The goal is allow retailers to be able to easily coordinate online and offline transactions, including orders, customer relationships, inventory and more, from within the Square family […].
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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
Chris Skinner
SEPTEMBER 4, 2019
Almost every day, there is an announcement of a new payments innovation. From the success of the likes of Klarna, Stripe and Square in retail payments to the growth of new payment mechanisms like Ripple and JPMorgan’s internal settlement engine, the JPM Coin and the launch of digital currencies from … The post Ripple offer SWIFT an olive branch appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
SEPTEMBER 5, 2019
The insurance industry needs to consider how their payments technologies match up with increasingly disruptive trends in the financial services space.
Bank Innovation
SEPTEMBER 5, 2019
With the rise of digital-only challenger banks, it’s easy to overlook Ally Bank. But Detroit-based Ally, which has no branches, was the one of the earliest digital-only banking players, rolling out a product suite a decade ago when it rebranded from General Motors Acceptance Corporation. Since then, Ally has acquired more than 1.9 million customers and […].
Chris Skinner
SEPTEMBER 5, 2019
I just spoke at Russia’s Eastern Economic Forum, a Davos for the Russian world and beyond. Hosted by Vladimir Putin there were stellar guests attending including Prime Minister Narendra Modi of India and Prime Minister Shinzo Abe of Japan, as well as other world leaders and Chris Skinner. Hanging out … The post The real reason for a regulatory sandbox … avoiding death and mayhem appeared first on Chris Skinner's blog.
PYMNTS
SEPTEMBER 4, 2019
Amazon is testing a new payment system that uses handprints for checkout instead of a card or an app, The New York Post reported on Tuesday (Sept. 3). Codenamed “Orville,” the technology will scan human hands to ring up purchases. Sources told the NYP that the e-commerce giant is using its New York employees as test subjects by installing the system on a handful of vending machines selling chips, sodas and phone chargers in its offices.
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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
Payments Dive
SEPTEMBER 6, 2019
Banks and payment networks found themselves highly vulnerable to the recent spate of major hurricanes. Governments, industry organizations and financial institutions have been looking for ways to strengthen these vulnerable systems to make sure consumers and merchants can continue to function during disaster recovery periods.
Bank Innovation
SEPTEMBER 3, 2019
Volkswagen Bank, the financial services arm of the German automaker, is turning to QR code-like technology to fight threats posed by hackers. The bank, which focuses on vehicle and dealer financing, implemented the new technology with the help of OneSpan (formerly Vasco), a security and e-signature solutions company based in Chicago. The OneSpan solution is called […].
Chris Skinner
SEPTEMBER 2, 2019
I was listening to questions at a meeting this week where one of the audience asked if I needed to adjust what I say on my travels, to suit the culture of different countries. I thought about it for a second, and realised that I don’t. I do adjust the … The post The diversity of financial technologies appeared first on Chris Skinner's blog.
PYMNTS
SEPTEMBER 3, 2019
The famous 17 th -century political satirist and author, Jonathan Swift , wrote in 1745 that “vision is the art of seeing things invisible.” Two hundred and seventy-four years later, those words are the perfect framework for understanding what will define the next decade of innovation in payments and any ecosystem that touches it. Which, increasingly, is just about every ecosystem.
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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
SEPTEMBER 3, 2019
This report shares some of the current, most popular standards that companies are considering for new IoT and M2M deployments. You'll also see what the future holds with 5g connectivity.
Bank Innovation
SEPTEMBER 6, 2019
In a bid to grow its deposit base, digital-only Radius Bank is folding debit-based rewards and high-yield savings into one product called Rewards Checking. The account offers 1% cash back on debit transactions and up to 1.2% APY on savings. To access the savings, however, customers need to keep at least $2,500 in their rewards […].
Chris Skinner
SEPTEMBER 3, 2019
Talking of diversity of views and strange conversations, I was in discussion with an American bank the other day and they asked me if Europe would survive this crisis. I thought they meant Brexit, and started waffling on about whiff-whaff and Boris Johnston but no, they stopped me mid-sentence and … The post The diversity of financial markets appeared first on Chris Skinner's blog.
PYMNTS
SEPTEMBER 3, 2019
Today if one says the word eBay anywhere in the U.S. — and in multiple spots around the world — you will be hard-pressed to find someone who doesn’t instantly know as to what you are referring. They may never have made a purchase on the online marketplace, but the odds are good they know at least one good story about something bought it on eBay story.
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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.
Payments Dive
SEPTEMBER 5, 2019
FSS helps a leading processor in Jordan to modernize its billing and settlement infrastructure.
Bank Innovation
SEPTEMBER 4, 2019
Credit Sesame, the San Francisco-based credit score monitoring and advice platform, is building out its AI-based credit management tools with the help of a major fundraising round last week. The nine-year-old company has long provided users with free credit scores and monitoring, and it offers insights into ways to improve credit scores like lowering card […].
Chris Skinner
AUGUST 31, 2019
The main blog headlines are … Where Top US Banks Are Betting On Fintech After yesterday’s article about how backward America is, in terms of payments, there’s a useful article talking about how they’re trying to rectify this. Bearing in mind that the big American banks are all spending $10 … The post The Finanser’s Week: 26th August – 1st September 2019 appeared first on Chris Skinner's blog.
PYMNTS
AUGUST 31, 2019
As U.S. household debt climbs, financial health startup Credit Sesame has raised $43 million ahead of its planned IPO, as reported on Friday (Aug. 30). Debt in the country stands at nearly $14 trillion. Credit Sesame aims to expand the available tools to help consumers better handle outstanding loans. Consumers can use the service to check their credit scores and evaluate options to improve their overall financial health.
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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.
Payments Dive
SEPTEMBER 3, 2019
The value of IoT is data that drives action. Maintaining a reliable, secure connection is critical to realizing this value.
Bank Innovation
SEPTEMBER 6, 2019
As banks increasingly take transactions to digital channels, the process to acquire customers also is shifting online thanks to technology that matches product offers to customers based on data. Indeed, Even Financial, a four-year-old startup, has built just such an API to help banks find customers. This week, the New York-based company confirmed a $25 […].
Chris Skinner
SEPTEMBER 5, 2019
Things we’re reading today include … A new digital bank is scooping up teenage customers before big banks get to them Smile-to-pay: Chinese shoppers turn to facial payment technology Names and phone numbers of 18m British Facebook users found online, prompting privacy watchdog probe UK slips closer to recession as … The post Things worth reading: 6th September 2019 appeared first on Chris Skinner's blog.
PYMNTS
SEPTEMBER 5, 2019
Samsung ’s latest Galaxy Note 10 aims to boost blockchain adoption by making it more user-friendly, The Wall Street Journal reported Thursday (Sept. 5). The new product will be marketed as a “KlaytnPhone,” named after a South Korean blockchain platform, sources told the WSJ. Right now, it’s only being sold in South Korea. The smartphone will have the same hardware and packaging as the recently-released Galaxy Note 10, and prices will start at around $1,000, the sources said.
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.
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