Sat.Jun 27, 2020 - Fri.Jul 03, 2020

Next-gen central banking | Pillar 2: Enable and drive innovation


In our last post, we looked at how central banks can harness the power of data. We move on now to the second pillar. Pillar 2: Enable and drive innovation A key role for central banks is to enable and promote a vibrant financial sector. In the digital age, that means helping to cultivate new….

Wirecard … the biggest accounting fraud? Is the customers money safe? The end of Banking-as-a-Service?

Chris Skinner

Some of us are old enough to remember Arthur Anderson and Enron, a mixture of two companies that created an accounting mess bigger than any seen before in corporate history. That was until Ernst & Young (EY) and Wirecard.

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Open banking trends show which tech will outlast the pandemic

Payments Source

An obscure-sounding statistic gives a fresh look at how dramatic the move to digital finance has been the past few months — and how permanent the move will be. Fintech Compliance U.K. Coronavirus

Wirecard North America goes on market, while operations allowed to resume in UK

Mobile Payments Today

Wirecard North America officials said the company was looking for a new owner as the multi-billion accounting scandal at the German-based payments firm reverberated across the globe. UK regulators reached agreement to let operations resume there

The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

FinCEN Releases Long Awaited Hemp Guidance


Key Takeaways FinCEN released guidance for financial institutions around banking hemp-related businesses. CDD requirements are risk-based and require the grower to provide their compliance with licensing requirements.

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Wells Fargo On Why First Impressions Are Key In Digital Banking


The COVID-19 pandemic is one of the most monumental crises the banking industry has faced, and the sector must stare down the dual challenges of creating safety measures at branch locations while addressing the ongoing economic downturn that has stretched their capacity for processing and deferring loans.

Eurozone banks form payments group to take on Visa, Mastercard

Mobile Payments Today

A group of Eurozone banks are coming together to provide some competition in the payments space against Visa and Mastercard

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Staying Connected in a Remote Financial Services Workforce


Key Takeaways Work-from-home mandates have brought new challenges to an already stressful job held by banking professionals.

BaaS works, it’s the regulations that don’t

Chris Skinner

During my MoneyBox interview about Wirecard (see end of this blog), Paul asked me the question: how could this happen again? What’s next? And I said, we learn from our mistakes. Progress never stops. Wirecard won’t shut down FinTech. It will amend it.

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Vicarious: There’s Robots, Then There’s ‘Robots-As-A-Service’ Model


Jeff Bezos, Elon Musk, Mark Benioff and Mark Zuckerberg all have something in common other than being billionaires. They all invest in a company called Vicarious , which is taking robotics to a higher, yet more democratic, level.

The role of ATMs and cash access in the digital banking era

Mobile Payments Today

Cash is not going to be phased out any time soon, but cash access is evolving to suit people’s “anytime, anywhere” needs

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How the COVID-19 crisis is impacting branch banking


The rise in popularity of online banking in the last several years had already precipitated a downward trend in branch banking and had forced financial institutions to start adjusting their networks.

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More free research from Genpact

Chris Skinner

I guess this week must be the week where I’ve found a lot of useful free research, as here’s another one. This time from Genpact, “a global professional services firm delivering digital transformation”. Some interesting stats in this report: By 2022, it is expected that 57.5 million U.S.

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.

How Payments Is Powering The Travel Industry’s Return


The global pandemic has left no industry unscathed, but the travel business has the unfortunate distinction of being the sector that was slammed first and hardest, Colin Smyth , head of travel at payments platform Flywire , told Karen Webster in a recent conversation.

New PPP Borrower Data That Will Surprise You

Banker to Banker

Recent survey data from borrowers that took a Paycheck Protection Program (PPP) loan was surprising as more borrowers than we first expected will be using the EZ Form and fewer borrowers than expected will be using the 24-week covered period.

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Rebeca Romero Rainey: Let’s bring people together

Independent Banker

“With a heart led by compassion, let’s ask ourselves a question: Who do we want to be when we grow up?”. At times in our country, true independence has arisen from points of crisis—critical moments in time that require us to listen and reflect.

Realising the digital dream (free research)

Chris Skinner

I recently did a podcast and webinar with the Institute for International Finance (IIF). The timing was great because they’ve just produced a set of three reports about digital transformation in partnership with Deloitte.

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Marketing-Led Post-COVID-19 Growth Strategies

Businesses are laying off workers, shutting their doors (some permanently), and struggling to react to the radical destruction that coronavirus (COVID-19) is doing to our society and communities. Most have already sustained massive damage, and we still have yet to see the scope of impact of the global pandemic that has upended the globe. Any return to normalcy may seem far-off, but sales and marketing are on the front lines of restarting the economy. When the dust settles, we have a responsibility to turn our shock and grief into fierce determination, and lead the charge of responsible, strategic, sustainable future growth. However, there’s no team better suited to lead that charge than the marketing department. Marketers are uniquely positioned to provide creative solutions to aid their organization in times of change and chart a course for navigating success.

24 Big European Banks Take On Visa, Mastercard With Their Own Payment System


A group of big European banks is planning to challenge Visa ’s and Mastercard ’s positions as the world’s two largest payment processing networks, Electronic Payments International reported. .

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Can EU banks unite against Visa and Mastercard?

Payments Source

More than a dozen large European banks plan to launch a payment system that would rival U.S. payment companies and technology firms, an idea that hasn’t worked in the past but may have a better chance given the current global health, economic and political crises.

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Advances in sustainable finance, but more needed


Sustainable opportunities Clear progress has been made on the UN Global Compact’s Sustainable Development Goals (SDG), however, companies must do more. Only 21 percent of the CEOs in our 2019 UNGC Study said they felt business was making a critical contribution to the global goals.

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Things worth reading: 30th June 2020

Chris Skinner

How ZoomInfo Helps Overcome the Top Pain Points of Inside Sales

Recent digital transformation has shifted the B2B landscape by ushering in the era of buyer empowerment. With more access to user reviews, analyst opinion, and industry research, decision-makers are more informed than ever while navigating what is now known as the “buyer’s journey.”

Venmo Pilots Business Payments For Micro SMBs


Venmo will introduce a new feature for businesses to accept payments separate from the individual owner’s account, a press release says.

Here Is What Lenders Can Learn From Investment Officers

Banker to Banker

With a low and flat yield curve, generating profits through investments has become more challenging. There are some very poignant lessons that CFOs are learning about investment strategies that apply directly to commercial lenders.

The missing WHY of Robinhood

Daily Fintech

Once you finish reading this article, I suggest listening to the Supermode song Tell me why Efi Pylarinou is the founder of Efi Pylarinou Advisory and a Fintech/Blockchain influencer – No.3 influencer in the finance sector by Refinitiv Global Social Media 2019.

The Finanser’s Week: 22nd June 2020 – 28th June 2020

Chris Skinner

The main blog headlines are … Is FinTech getting it wrong? Focus on needs and wants A friend of mine, Alessandro Hatami, wrote an interesting piece on Sifted that I shared in my news yesterday. He claims that neobanks like Monzo and Starling are not reinventing banking at all.

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Marketing Ops: The New Revenue Hero

As data continues to play a starring role in today’s B2B organizations, both marketing and sales operations professionals are poised to solidify their place as critical revenue drivers. In particular, the evolution of the Marketing Operations (Ops) role has created a new standard in marketing and has become a vital component of an organization’s success.