Sat.Aug 31, 2019 - Fri.Sep 06, 2019

Ripple offer SWIFT an olive branch

Chris Skinner

Almost every day, there is an announcement of a new payments innovation.

Why the insurance industry should prioritize digital payments

Mobile Payments Today

The insurance industry needs to consider how their payments technologies match up with increasingly disruptive trends in the financial services space

Amazon Trials Hand Recognition Payment Method At Whole Foods

PYMNTS

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. Codenamed “Orville,” the technology will scan human hands to ring up purchases.

Square is growing its platform into a one-stop shop for retailers

Bank Innovation

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.

Retail 188

The real reason for a regulatory sandbox … avoiding death and mayhem

Chris Skinner

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.

Digital banking made strong gains in UK market during first half of 2019

Mobile Payments Today

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.

What 10 Top CEOs Said About Payments This Summer

PYMNTS

There was no shortage of things to watch this summer for payments and commerce peeps.

More Trending

We just haven’t got a clue what to do!

Chris Skinner

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.

Banks, merchants look for reforms, resilience in the face of natural disasters

Mobile Payments Today

Banks and payment networks found themselves highly vulnerable to the recent spate of major hurricanes.

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Visa Chip Cards Reduced Counterfeit Fraud By 87 Pct

PYMNTS

Visa announced that since their inception, chip cards have reduced counterfeit fraud by 87 percent. . Chip cards are increasingly becoming the norm as usage and acceptance has continued to grow since the EMV standard was first introduced in 2011,” the company said.

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Volkswagen Bank taps OneSpan for encryption to fight hackers

Bank Innovation

Volkswagen Bank, the financial services arm of the German automaker, is turning to QR code-like technology to fight threats posed by hackers.

The diversity of financial technologies

Chris Skinner

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.

Building a Future-Ready Billing and Settlement System

Mobile Payments Today

FSS helps a leading processor in Jordan to modernize its billing and settlement infrastructure

System 165

Blockchain-Friendly Smartphone Introduced By Samsung

PYMNTS

Samsung ’s latest Galaxy Note 10 aims to boost blockchain adoption by making it more user-friendly, The Wall Street Journal reported Thursday (Sept. The new product will be marketed as a “KlaytnPhone,” named after a South Korean blockchain platform, sources told the WSJ.

No one-trick pony: How Ally got to $100b in deposits

Bank Innovation

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.

The diversity of financial markets

Chris Skinner

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.

Rebeca Romero Rainey: Take pride in the work we do

Independent Banker

“While community banks could certainly benefit from the tax advantages credit unions have, we flourish despite them.”. There’s something about September that inspires a focus on priorities. Maybe it’s a throwback to back-to-school, or perhaps I’m gearing up for the switch of seasons.

China Central Bank Readying Crypto Launch?

PYMNTS

In China, the central bank will debut a state-backed cryptocurrency that initially will be issued to seven institutions in that country, Forbes reported this week. The news comes from Paul Schulte, who was head of financial strategy for China Construction Bank.

Radius bundles savings and debit rewards to build brand and deposit base

Bank Innovation

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.

The Finanser’s Week: 26th August – 1st September 2019

Chris Skinner

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.

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Popular Standards for IoT & M2M

Mobile Payments Today

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

Report 141

IPO-Bound Credit Sesame Raises $43M Led By ATW Partners

PYMNTS

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. Debt in the country stands at nearly $14 trillion. Credit Sesame aims to expand the available tools to help consumers better handle outstanding loans.

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Credit Sesame wants to create a frictionless web application process

Bank Innovation

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.

Things worth reading: 6th September 2019

Chris Skinner

August Jobs Report: Hiring Slows, but Wages Increase

Abrigio

This morning’s BLS Employment Situation Report showed a disappointing 130,000 net jobs created for the month of August. Analysts had anticipated a gain of 150,000 jobs. Moreover, 25,000 of those jobs created were by the Federal Government due to hiring for Census-related activities.

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Amazon Gives Biometric Payments A Hand — In The Store

PYMNTS

Biometric payments are making another run at the grocery store, this time at the hands or Amazon. Or, to be more precise, in the hands of Amazon’s customers.

Even Financial raises $25m to help banks automate customer acquisition

Bank Innovation

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.

How Financial Education Quantitatively Helps Banks

Banker to Banker

THE ECONOMICS OF FINANCIAL LITERACY Many banks put financial literacy education squarely in their Community Redevelopment Act (CRA) effort using the mindset that financial literacy is an affliction of low-to-moderate income households. The reality is, financial illiteracy affects us all.

12 Industries That Will Thrive Thanks To Millennials

CB Insights

Popular media coverage of millennials often fixates on the industries the generation is allegedly killing and their supposed fiscal irresponsibility.

SWIFT Reveals New API Standard For Pre-Authorization Of Funds

PYMNTS

A new API standard for the pre-authorization of funds is being rolled out by SWIFT, clearing a path for a revolution in financial services enabled by open banking, the company said in a press release on Thursday (Sept. API standards accelerate the introduction of new services.

Weekly Wrap: Radius launches rewards checking, as Credit Sesame expands its tools

Bank Innovation

Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, September 6, 2019.

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Want to take Control? Future Proofing with One global SIM and IoT Connectivity

Mobile Payments Today

The value of IoT is data that drives action. Maintaining a reliable, secure connection is critical to realizing this value. One global SIM, one global contract, and a fully managed service offers a simple solution to IoT connectivity

Innovation 2.0: ATMs in the 21st Century

ATM Marketplace

ATMs have vast potential when it comes to the services they could offer, and yet, their chronic lack of innovation has been hugely frustrating to watch

ATM 108

eBay: A Look Back

PYMNTS

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.

PayActiv adds instant payday advances to lure more employers to its platform

Bank Innovation

PayActiv is tapping into the demand for employee payday advances by linking up with employers to offer the feature directly through payroll. PayActiv’s growth is evidence of the strong demand for payday advance services.

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“We Spent All This Money on Software, Why Aren’t People Using It?”

Abrigio

When a community financial institution spends a lot of money on technology, the last thing management wants is to be disappointed. It’s actually the last thing the technology provider wants as well – if the vendor plans to stay in business. The good news is that financial institutions can take several steps to ensure they avoid troublesome software integrations, says Steven Martin of Marcato Advisors, a bank consulting firm focused on achieving success with fintech.

On the tides of insurance innovation

Daily Fintech

A person has three choices in life. You can swim against the tide and get exhausted, or you can tread water and let the tide sweep you away, or you can swim with the tide, and let it take you where it wants you to go. source Clever words for one’s life path, perhaps […].