Chris Skinner

AUGUST 19, 2016

In Trade Finance there’s a lot of activity. As mentioned yesterday, you have HSBC and Bank of America working with HyperLedger; R3 trialling with 15 banks based upon Corda; Ripple working with Standard Chartered and DBS; and JPMorgan have been developing a trade finance trial with Digital Asset. These are platofrms and industry developmetns, but … The post Five Standout Start-Ups Focused Upon Blockchain Trade Finance appeared first on Chris Skinner's blog.

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Bank Innovation

AUGUST 16, 2016

Uber announced yesterday that the Instant Pay option for its drivers has been extended to nearly all U.S. debit cards, with the help of MasterCard Send and Green Dot, the operator of the mobile-first bank GoBank. “The expansion offers frictionless, elegant service to Uber, which is the poster child for the on-demand market,” said Green Read More.

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South State Correspondent

AUGUST 17, 2016

Ahh, the gentle breeze of Havana – the music, the people, the cigars, the mojitos and the embargo. Given the thawing relations and the new rules announced by the Obama administration, banking and financial transactions are now loosening….somewhat. While the lifting of the embargo will take an act of Congress and is not expected to be reviewed until next year, American companies are already in motion in preparation.

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Payments Dive

AUGUST 19, 2016

There are more than a few big reasons Wal-Mart is advancing its mobile retail customer experience and the big one is consumers want a smooth, fast, easy experience. In fact, they're demanding it.

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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

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Chris Skinner

AUGUST 16, 2016

I’ve talked a lot about blockchain, but not much lately about the use cases, of which four stand out in terms of real activity: Clearing and Settlement, Trade Finance, Payments and Digital Identity. I thought I’d do a deeper dive into these during the quietness of August, starting with what’s happening in Clearing and Settlement. Today, … The post Applying Blockchain to Clearing and Settlement appeared first on Chris Skinner's blog.

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Abrigo

AUGUST 16, 2016

In early June, Sageworks hosted a Current Expected Credit Loss (CECL) Workshop Series webinar and asked the attendees “Given what we know about CECL, what area do you feel will see the largest impact?” Greater than 81% of the 595 bankers who replied said that they expect the largest impact will be seen in the capital reserve levels, disclosure criteria and the involvement in the calculation across departments within the institution.

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PYMNTS

AUGUST 17, 2016

Selfies or vacation photos are apparently a big business. Seriously. Pixlee , a San Francisco-based startup, allows retailers or brands to market directly to customers by using their own photos through curating them from social media or having the customer directly submit them for use, which the company says leads to a more authentic and engaging shopping experience for consumers.

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Chris Skinner

AUGUST 18, 2016

After Clearing and Settlement as a blockchain use case, the next big area of interest is Trade Finance. This is primarily because it’s an area full of inefficiencies and open to fraud. Bills of Lading and Letters of Credit are old world methods of managing the shipping of goods and services, and the potential to … The post Applying Blockchain to Trade Finance appeared first on Chris Skinner's blog.

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Bank Innovation

AUGUST 19, 2016

Former bitcoin champion Stefan Thomas caused a small stir in the blockchain world today when he posted an essay entitled “The Subtle Tyranny of Blockchain,” which, as the title suggests, does not reflect favorably on the technology. “In any protocol, everyone has to act the same. But in a blockchain Read More.

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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

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Bobsguide

AUGUST 17, 2016

Financial exclusion is still a problem in 2016. Worldwide, there are two million people currently living without a bank account because they have low or unstable incomes or have experienced a change in circumstances. Many financial institutions and fintech startups are attempting to decrease the.

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PYMNTS

AUGUST 16, 2016

Millennials may know something that their older counterparts haven’t figured out yet: Cash is better than credit cards. That’s according to data from the Federal Reserve that shows that the number of people under the age of 35 in the U.S. that own a credit card has dipped to the lowest point since 1989, when the Federal Reserve started collecting data on credit card ownership.

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Chris Skinner

AUGUST 17, 2016

After yesterday’s blog generally about blockchain use case implications in Clearing and Settlement markets, here are the six companies I see as being at the forefront of changing the game: Digital Asset, SETL, tO, Clearmatics, Symbiont and itBit. Digital Asset Digital Asset – also known as Digital Asset Holdings (DAH) – is the most notable … The post Six Standout Start-ups Focused Upon Blockchain Clearing and Settlement appeared first on Chris Skinner's blog.

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Bank Innovation

AUGUST 19, 2016

This week, Breaking Banks hosts Brett King and Chris Skinner continue their five-part series on the blockchain, this time discussing the way the technology is being used in non-fintech areas such as healthtech, biotech, trade, and energy. King and Skinner were joined by quite a few voices this week, including Bailey Reutzel, Read More.

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Bobsguide

AUGUST 18, 2016

According to new figures from KPMG and CB Insights, Germany sped ahead in the fintech race during the second quarter of this year and brought in $186 million in comparison to the $103 million that British businesses pulled in. The report highlighted that funding to venture capital backed fintech.

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PYMNTS

AUGUST 19, 2016

In its seventh year collaborating with Stand Up To Cancer , Mastercard announced that its cardholders helped to raise $4 million during the annual Dine Out campaign. Cardholders were invited to donate to the cause and give back by dining out and sharing their reason for fighting cancer. The campaign, which ran for a period of time this summer, saw Mastercard make a donation to Stand Up To Cancer each time a cardholder spent more than $10 for a qualifying meal using their Mastercard card.

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Course Innovation Cards Marketing 128

Chris Skinner

AUGUST 15, 2016

Friend of the Financial Services Club and journalist with Financial News Anna Irrera has recently started producing a weekly roundup of FinTech news. She’s kindly agreed to let me republish this summary here on The Finanser, so here goes: Lots of banks have been testing blockchain based applications for trade finance… 15 R3 Members Trial Distributed Ledger … The post The FinTech Weekly Roundup by Anna Irrera (5) appeared first on Chris Skinner's blog.

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Bank Innovation

AUGUST 18, 2016

Incumbent payment firms are more likely to engage with fintech upstarts than other companies in the financial sector, according to the 2016 PwC Global FinTech Survey, “Payments in the Wild Tech World“ The payments industry is running scared and the vast majority are taking action. The report states, “84% of payments Read More.

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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.

Lending

Payments Source

AUGUST 18, 2016

After the whirlwind of payments innovation in 2015, 2016 has felt rather stagnant in comparison for many payment technology enthusiasts. What is the story behind this lull and what does it mean for the future of Fintech?

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Comparison Payments Innovation Fintech 83

PYMNTS

AUGUST 19, 2016

There were more robots ordered for manufacturing and business purposes in the first half of 2016 than at any point ever before, according to the Association for Advancing Automation (A3). A3 says the rise in automated manufacturing “promises increased efficiencies in production and the ability to compete globally.”. In total, 14,583 robots, at a value of $817 million, were ordered by North American companies during the first half of 2016, according to A3, which is a record and a 2 percent growth

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Chris Skinner

AUGUST 14, 2016

Here are our key posts for the past week … Renewing core systems is like renovating the subways Someone recently equated banks and their systems and structures, to the underground in London. It’s a lot of pipes, wires, cables and tunnels that were built in the Victorian times and are still operating today. You have … The post The Finanser’s Week: 8th August – 14th August 2016 appeared first on Chris Skinner's blog.

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Bank Innovation

AUGUST 15, 2016

For anyone who has to fill prescriptions, there’s an app for that — finally. Friday, CVS Health launched its new end-to-end mobile payment app, CVS Pay, for select stores in New York, New Jersey, Pennsylvania, and Delaware. The solution is focused on easing the process of picking up prescriptions or payments by CVS Read More.

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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.

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Bobsguide

AUGUST 16, 2016

Sage notified 200 of their business customers this week that their personal data could be at risk following a data breach. The software group warned their UK clients that employee bank account details and salary information could be accessible to those responsible for the hack. According to the.

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PYMNTS

AUGUST 17, 2016

Sure, there are a variety of things Alexa can do — such as order groceries, make playlists and tell jokes — but the usefulness of those things is rather subjective. Lost phone on the other hand? That’s something that affects approximately 99 percent of humans at some point and makes everyone everywhere hostile. It is also something Alexa can now fix for you.

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Chris Skinner

AUGUST 18, 2016

Things we’re reading today include … London Stock Exchange merger now heads to the regulators as Deutsche Boerse seals investor support Goldman Sachs: a play for the 99% Philippine ex-bank manager out on bail in case linked to cyber heist UK to avoid recession and world economy to ‘stabilise’ as Brexit shock passes – but … The post Things worth reading: 18th August 2016 appeared first on Chris Skinner's blog.

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Bank Innovation

AUGUST 18, 2016

The favorites mostly remain in the top slots for App Annie’s top finance apps this week. Credit Karma edged out Chase Mobile and Bank of America, which claimed second and third, for the top slot on Google Play. The gold medal (sorry, couldn’t resist) on iOS went to micro-investing app Stash Invest, Read More.

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