INDUSTRY INSIGHTS YOUR PEERS ARE READING
Better.com, a New York-based mortgage lending startup, raised $160 million in a Series C funding round on Monday to develop new products, hire new employees and launch new partnerships. MORE
Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks. Key themes. MORE
eCommerce is ever faster — and consumers want what they want — now. That means for the firms shipping all manner of goods across all manner of verticals need to track inventory and supply chains in real time. Technology is the key to speed. MORE
Main Street Bank, like thousands of other privately held or smaller financial institutions across the U.S., recently found out it will have extra time to implement the current expected credit loss (CECL) accounting standard. MORE
While third-party savings apps like Digit, Qapital and Tip Yourself aim to help customers save money automatically, Plinqit is pitching its savings app as a tool that partner banks can use to drive more business. MORE
I saw a write-up in The Financial Times the other day on how Silicon Valley is eating the banker’s lunch. The article was written by Tom Braithwaite. Tom Braithwaite is the companies editor, managing the FT’s business coverage. MORE
Confirming a customer’s identity is an ongoing pain point for banks and financial institutions around the world. It’s an even bigger challenge for countries that have high underbanked populations like Sierra Leone. MORE
Bank of America is seeing encouraging early uptake of business-to-business payments through Zelle, with 180,000 small businesses having sent money through the service since it launched in June. MORE
With Facebook's announcement of its cryptocurrency Libra, cryptocurrency has gotten a lot more attention recently, and not all of it is positive, especially from U.S. lawmakers. Many are seeing cryptocurrencies like Libra as a national security issue MORE
Things we’re reading today include … ECB Says the Next European Bank Hack Is Just a Matter of Time Bank of America Applies for Multi-Tiered Crypto Wallet Patent Is mobile banking app Monzo too good to be true? MORE
Welcome to the latest episode of our weekly wrap video series, for the week ending August 23, 2019. In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news developments: How the U.S. MORE
Mastercard , already an ally of Facebook’s Libra , announced it’s in the midst of planning its own cryptocurrency team, the New York Post reported on Saturday (Aug. MORE
The main blog headlines are … Chris Skinner’s TEDx Talk I am honoured and privileged to list on my profile that I have been an advisor to the White House, World Bank, World Economic Forum and United Nations. Now I can add TEDx Speaker. MORE
Legacy banks have their work cut out for them if they want to survive another century as key players in the digital banking world. MORE
Shopping for a bank secrecy act/anti-money laundering (BSA/AML) monitoring software can feel overwhelming. There are so many options, features, and benefits to each system that it can be tough to figure out where to start. We’ve spent the last 20 years working with industry experts regarding regulatory compliance and our customer base regarding program efficiencies to build BAM+ into the ultimate BSA/AML regulatory and compliance solution. MORE
Things we’re reading today include … U.S. SEC fines Deutsche Bank $16 million to settle foreign corruption charges Can the Fed’s chair shake off the wolves of Wall Street and White House? Jes Staley: the last man in European investment banking Wells Fargo pays $6.5 MORE
Ongoing training is at the very heart of a satisfactory Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program in financial institutions. MORE
As I walk around The City, I’m often finding new buildings, new developments and major erections rising around the Square Mile. On that latter note, I don’t mean Boris Johnston, but major new office blocks. MORE
Amazon is on track to invest upwards of $15 billion this year in new tools to help small and medium-sized businesses (SMBs) grow and succeed, according to a press release. . To aid SMBs, 150 new tools have been launched since the beginning of the year, the company announced on Thursday (Aug 22). MORE
Cuentas, a Miami-based prepaid debit card company targeting Spanish-speaking populations, wants to turn convenience stores into financial hubs through Cuentas-branded debit cards and accounts. The cards, which will launch in early September, will be linked to an online bank account from Saturn Bank. MORE
The term The Internet of Things (IoT) was first used twenty years ago. Twenty years later, IoT is emerging rapidly. We have our cars and homes networked but, more than this, we have gadgets like Google Home, Siri and Alexa. MORE
Recently launched public transit trials in New York, Miami and elsewhere are showing huge potential for digital wallets and contactless cards in driving widespread adoption for mobile payments MORE
In Latin America, news comes this week that Santander Group is boosting its use of Ripple’s technology to aid payments across what CoinDesk reported is a “payment corridor” in Latin America. MORE
While student loans are a necessity for many American students, international students face the additional hurdle of a lack of credit access. Washington, D.C.-based based MPOWER is trying to solve this problem by offering international students loans based on future earnings potential. MORE
The growth of Amazon Go cashierless stores is causing a ripple effect among retailers. It’s what’s been inspiring big-box retailers — among them, Walmart, Sam’s Club, Giant Eagle and others — to develop cashierless payment systems of their own. MORE
The official launch of Apple Card has generated major buzz across the payments and banking industry, however a split has emerged about whether the technology company will truly break new ground on a digital payment product that grows the business with consumer friendly financial services MORE
No industry is immune to digital transformation. Sure, activities like shopping online, getting food delivered, catching a cab or finding a gig are some of the most front-and-center examples. But recreational pursuits like live sports have also been given a tech makeover. MORE
Cash is the quicker choice. The average cash payment transaction at the point of sale takes only around 22 seconds, 7 seconds faster than the average card and PIN payment and a whole 16 seconds quicker than a typical card and signature transaction MORE
Miami-Dade County Metrorail commuter transit riders will be able to wave their contactless cards or mobile payment wallets starting today, eliminating the requirement to use proprietary fare cards. MORE
Hurricanes, wildfires, tornados, earthquakes and floods — disasters of all types tend to bring out the best and the worst in people. Generous donations. Ripped-off funds. Faulty grant applications and truckloads of supplies sent to the impacted areas. MORE
CRITICAL THINKING In Part I, we highlighted how having too much information about a decision often increases the confidence about the decision but usually doesn’t change the accuracy of the decision. MORE
Royal Bank of Canada is growing its digital product portfolio as mobile user adoption grows. MORE
JPMorgan has discontinued its Chase Pay app that allowed users to pay with their smartphones in stores, according to a report by Bloomberg. The app will stop working in the early part of next year, but users will still be able to use Chase Pay on websites and in the apps of participating retailers. MORE
I just picked up a Financial Times article talking about how Artificial Intelligence (AI) will change the way you deal with money. It’s actually more about the Chinese internet giant Ping An, and how they’re changing finance using AI. MORE
Chris Skinner
AUGUST 21, 2019
The term The Internet of Things (IoT) was first used twenty years ago. Twenty years later, IoT is emerging rapidly. We have our cars and homes networked but, more than this, we have gadgets like Google Home, Siri and Alexa.
Bank Innovation
AUGUST 23, 2019
Confirming a customer’s identity is an ongoing pain point for banks and financial institutions around the world. It’s an even bigger challenge for countries that have high underbanked populations like Sierra Leone.
PYMNTS
AUGUST 22, 2019
In Latin America, news comes this week that Santander Group is boosting its use of Ripple’s technology to aid payments across what CoinDesk reported is a “payment corridor” in Latin America.
Mobile Payments Today
AUGUST 22, 2019
The official launch of Apple Card has generated major buzz across the payments and banking industry, however a split has emerged about whether the technology company will truly break new ground on a digital payment product that grows the business with consumer friendly financial services
Chris Skinner
AUGUST 18, 2019
I just picked up a Financial Times article talking about how Artificial Intelligence (AI) will change the way you deal with money. It’s actually more about the Chinese internet giant Ping An, and how they’re changing finance using AI.
Bank Innovation
AUGUST 21, 2019
Royal Bank of Canada is growing its digital product portfolio as mobile user adoption grows.
PYMNTS
AUGUST 18, 2019
Mastercard , already an ally of Facebook’s Libra , announced it’s in the midst of planning its own cryptocurrency team, the New York Post reported on Saturday (Aug.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
AUGUST 22, 2019
I enjoy being around bankers who have been immersed in the industry nearly all of their lives and hearing their war stories. I heard two stories recently from a retiring banker, and thought it worth sharing to show just how far we’ve come.
Bank Innovation
AUGUST 20, 2019
Cuentas, a Miami-based prepaid debit card company targeting Spanish-speaking populations, wants to turn convenience stores into financial hubs through Cuentas-branded debit cards and accounts. The cards, which will launch in early September, will be linked to an online bank account from Saturn Bank.
PYMNTS
AUGUST 23, 2019
No industry is immune to digital transformation. Sure, activities like shopping online, getting food delivered, catching a cab or finding a gig are some of the most front-and-center examples. But recreational pursuits like live sports have also been given a tech makeover.
Mobile Payments Today
AUGUST 20, 2019
With Facebook's announcement of its cryptocurrency Libra, cryptocurrency has gotten a lot more attention recently, and not all of it is positive, especially from U.S. lawmakers. Many are seeing cryptocurrencies like Libra as a national security issue
Chris Skinner
AUGUST 20, 2019
I saw a write-up in The Financial Times the other day on how Silicon Valley is eating the banker’s lunch. The article was written by Tom Braithwaite. Tom Braithwaite is the companies editor, managing the FT’s business coverage.
Bank Innovation
AUGUST 22, 2019
The growth of Amazon Go cashierless stores is causing a ripple effect among retailers. It’s what’s been inspiring big-box retailers — among them, Walmart, Sam’s Club, Giant Eagle and others — to develop cashierless payment systems of their own.
PYMNTS
AUGUST 20, 2019
The Apple Card, a credit card created in partnership by the technology company, was officially released in the U.S. on Tuesday (Aug. 20), the company said in a release.
Banker to Banker
AUGUST 21, 2019
CRITICAL THINKING In Part I, we highlighted how having too much information about a decision often increases the confidence about the decision but usually doesn’t change the accuracy of the decision.
Chris Skinner
AUGUST 19, 2019
As I walk around The City, I’m often finding new buildings, new developments and major erections rising around the Square Mile. On that latter note, I don’t mean Boris Johnston, but major new office blocks.
Bank Innovation
AUGUST 23, 2019
While student loans are a necessity for many American students, international students face the additional hurdle of a lack of credit access. Washington, D.C.-based based MPOWER is trying to solve this problem by offering international students loans based on future earnings potential.
PYMNTS
AUGUST 21, 2019
Hurricanes, wildfires, tornados, earthquakes and floods — disasters of all types tend to bring out the best and the worst in people. Generous donations. Ripped-off funds. Faulty grant applications and truckloads of supplies sent to the impacted areas.
Abrigio
AUGUST 21, 2019
Shopping for a bank secrecy act/anti-money laundering (BSA/AML) monitoring software can feel overwhelming. There are so many options, features, and benefits to each system that it can be tough to figure out where to start. We’ve spent the last 20 years working with industry experts regarding regulatory compliance and our customer base regarding program efficiencies to build BAM+ into the ultimate BSA/AML regulatory and compliance solution.
Chris Skinner
AUGUST 17, 2019
The main blog headlines are … Chris Skinner’s TEDx Talk I am honoured and privileged to list on my profile that I have been an advisor to the White House, World Bank, World Economic Forum and United Nations. Now I can add TEDx Speaker.
Bank Innovation
AUGUST 19, 2019
While third-party savings apps like Digit, Qapital and Tip Yourself aim to help customers save money automatically, Plinqit is pitching its savings app as a tool that partner banks can use to drive more business.
PYMNTS
AUGUST 22, 2019
Amazon is on track to invest upwards of $15 billion this year in new tools to help small and medium-sized businesses (SMBs) grow and succeed, according to a press release. . To aid SMBs, 150 new tools have been launched since the beginning of the year, the company announced on Thursday (Aug 22).
Abrigio
AUGUST 22, 2019
Ongoing training is at the very heart of a satisfactory Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program in financial institutions.
Chris Skinner
AUGUST 19, 2019
Things we’re reading today include … ECB Says the Next European Bank Hack Is Just a Matter of Time Bank of America Applies for Multi-Tiered Crypto Wallet Patent Is mobile banking app Monzo too good to be true?
Bank Innovation
AUGUST 19, 2019
Better.com, a New York-based mortgage lending startup, raised $160 million in a Series C funding round on Monday to develop new products, hire new employees and launch new partnerships.
PYMNTS
AUGUST 21, 2019
Legacy banks have their work cut out for them if they want to survive another century as key players in the digital banking world.
Abrigio
AUGUST 19, 2019
Main Street Bank, like thousands of other privately held or smaller financial institutions across the U.S., recently found out it will have extra time to implement the current expected credit loss (CECL) accounting standard.
Bank Innovation
AUGUST 23, 2019
Welcome to the latest episode of our weekly wrap video series, for the week ending August 23, 2019. In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news developments: How the U.S.
PYMNTS
AUGUST 21, 2019
JPMorgan has discontinued its Chase Pay app that allowed users to pay with their smartphones in stores, according to a report by Bloomberg. The app will stop working in the early part of next year, but users will still be able to use Chase Pay on websites and in the apps of participating retailers.
ATM Marketplace
AUGUST 23, 2019
Cash is the quicker choice. The average cash payment transaction at the point of sale takes only around 22 seconds, 7 seconds faster than the average card and PIN payment and a whole 16 seconds quicker than a typical card and signature transaction
Bank Innovation
AUGUST 22, 2019
Bank of America is seeing encouraging early uptake of business-to-business payments through Zelle, with 180,000 small businesses having sent money through the service since it launched in June.
PYMNTS
AUGUST 23, 2019
eCommerce is ever faster — and consumers want what they want — now. That means for the firms shipping all manner of goods across all manner of verticals need to track inventory and supply chains in real time. Technology is the key to speed.
Accenture
AUGUST 20, 2019
Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks. Key themes.
Chris Skinner
AUGUST 22, 2019
Things we’re reading today include … U.S. SEC fines Deutsche Bank $16 million to settle foreign corruption charges Can the Fed’s chair shake off the wolves of Wall Street and White House? Jes Staley: the last man in European investment banking Wells Fargo pays $6.5
Bank Innovation
AUGUST 21, 2019
Miami-Dade County Metrorail commuter transit riders will be able to wave their contactless cards or mobile payment wallets starting today, eliminating the requirement to use proprietary fare cards.
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