Chris Skinner
JANUARY 8, 2019
There are many pundits predicting change in banking and FinTech this year. Here’s a review of a few of the ones that have some depth. American Banker published seven FinTech predictions for 2019 by Bob Legters, Chief Product Officer of Banking and Payments at FIS. The seven headlines are: We won’t … The post FinTech Forecasts for 2019 appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 11, 2019
The banking industry is facing multiple challenges in the face of stiff competition from fintech startups and disruptive applications that provide direct access to loans, credit and other critical services.
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PYMNTS
JANUARY 9, 2019
When talking about advances in home automation and artificial intelligence (AI)-guided systems for consumers, the conversation has a natural tendency to drift toward younger consumers, particularly millennials. That focus isn’t unwarranted, as there are 75 million millennials, and the older half of that generation (the group PYMNTS has termed Bridge Millennials ) is much more likely than the average consumer to own a smart device, and more likely to use it to make a purchase.
Bank Innovation
JANUARY 10, 2019
Banks, credit unions and other financial institutions have tech giants like Apple, Amazon and Google to thank for the rise in customers demanding a combination of speed, simplicity and convenience that can seem elusive in the industry. Consumer expectations have changed, but financial institutions certainly appear to be aware of the consequences of not responding […].
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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
JANUARY 6, 2019
Hello, hello and hello again. Welcome to 2019. A brand new, fresh, shiny year, and just out of the starting gate. Having said that, yes we are still talking Brexit and we still find a group of shady bankers knocking off billions. Same s**t, different day, as Stephen King would say. … The post Ten Top Trends for 2019 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.
PYMNTS
JANUARY 10, 2019
Amazon has its eyes on expansion for its Whole Foods brand in closed Sears and Kmart stores, according to a report by Yahoo! Finance. The recent woes of Sears and other struggling retailers are seen as an opportunity for the online retail giant. Sources told Yahoo! that the company is visiting sites of now defunct retail spaces. For example, Whole Foods managers went to a site in Utah that used to be a Kmart.
Bank Innovation
JANUARY 7, 2019
Fintech lending is on the rise but under the microscope, too. A report from the U.S. Government Accountability Office released in December said financial regulators should give the role of non-bank players in the small business and consumer lending markets a little more scrutiny, and clarify their views on the use of alternative data to make […].
Chris Skinner
JANUARY 9, 2019
There has been a lot of thinking and rethinking during 2018 about blockchain, cryptocurrencies, bitcoin and everything digital currency related. I wrote about the challenges getting blockchains implemented for example, and was surprised to find myself enduing up as a network meme. The power of the pundit, ay? Last year … The post Crypto Forecasts for 2019 appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 11, 2019
Host David Jones, discusses automating payment card data, and how it protects cardholders and merchants with Switch CEO, Chris Hopen.
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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
PYMNTS
JANUARY 9, 2019
New York has banned the ban. In the wake of court filings this week that effectively ended a challenge to surcharges on credit card transactions in New York, merchants in the Empire State can indeed embrace those fees, contingent upon stating those costs to consumers up front. The merchant plaintiffs and the state of New York filed motions on Jan. 8 to dismiss a challenge to such charges, seemingly capping a battle stretching back years.
Bank Innovation
JANUARY 11, 2019
Fewer but larger venture capital deals in 2018 translated into some big payoffs for fintechs. Fintech-related funding jumped 38% to nearly $11 billion in 2018, according to the 4Q18 MoneyTree Report from PwC and CB Insights. Deal activity in the space rose to 627 transactions, up from 571 in 2017. Seed-stage fintech companies accounted for […].
Chris Skinner
JANUARY 10, 2019
So, I’ve been summarising other people’s views of the year ahead from a variety of sources, but I also wrote two outline pieces for my friends at The Banker magazine and Jim Marous’s The Financial Brand. Just to finish off my week’s blogs about this year, here’s what I wrote. From The … The post My view of 2019 appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 7, 2019
This interview is part of a video series, “The Future of Fintech,” produced by Mobile Payments Today and powered by Galileo Processing.
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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.
PYMNTS
JANUARY 8, 2019
Ripple, the blockchain company that has the XRP digital currency, reached a milestone on Tuesday (Jan. 8) by reaching 200 customers. According to a blog post , Ripple said that in addition to the 200 customers, it has seen a 350 percent increase in customers who are sending live payments over its blockchain platform. The company announced that 13 new financial institutions, including Euro Exim Bank, SendFriend, JNFX, FTCS, Al Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCo
Bank Innovation
JANUARY 9, 2019
Taking advantage of the timely New Year's resolution mentality, Marcus, the online consumer lender from Goldman Sachs, released what it calls Financial Workouts 2019 to help consumers get in better financial health. Users are required to determine their financial personalities based on a list of characteristics presented on the site. And then based on that […].
Chris Skinner
JANUARY 7, 2019
So yesterday, I gave you the top ten trends for 2019 from British Airways’ Business Life magazine. The article also discussed a range of other trends that are noteworthy, so here’s a quick summary of the other things to expect in 2019. 2019: The Year of the People This is … The post 2019: The Year of Witty Protest appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 8, 2019
An economic slowdown and the continued trade dispute with the U.S. are raising questions about the direction of mobile payments in the critical Chinese market.
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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.
PYMNTS
JANUARY 10, 2019
The new year has dawned with a number of cross-border payment pacts, done across blockchain and other means. In Pakistan, as reported by Coindesk, Telenor Microfinance Bank and remittance firm Valyou Sdn Bhd (a Telenor subsidiary) have launched a payment platform based on Alipay’s blockchain offerings. That blockchain technology, in turn, had been developed by Ant Financial Services Group.
Bank Innovation
JANUARY 9, 2019
Fintech startup Plaid, a quiet unicorn doing a lot of the heavy lifting in the API space, announced its first major purchase this week. The San Francisco-based company will acquire its competitor Quovo, a wealth management startup that aggregates investment and brokerage data. Plaid’s co-founders, CEO Zach Perret and CTO William Hockey, said in a blog […].
Ron Shevelin
JANUARY 6, 2019
Bank/fintech partnerships will be a tough road to hoe in 2019 because of: 1) Digital account opening delusions; 2) Resource constraints; and 3) Lack of strategic partnership processes.
Payments Dive
JANUARY 7, 2019
This interview is part of a video series, “The Future of Fintech,” produced by Mobile Payments Today and powered by Galileo Processing.
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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.
PYMNTS
JANUARY 10, 2019
U.S. startups had a great 2018 in terms of funding, with new data showing that venture capitalists deployed $130.9 billion, marking a new all-time high. According to new data from the PitchBook-NVCA Venture Monitor , the $130.9 billion deployed surpassed 2000, which was a record-setting year. “The venture ecosystem continued to slash records in 2018, further illustrating the maturation of the venture capital asset class, but also raising questions about the sustainability and health of these act
Bank Innovation
JANUARY 8, 2019
New Year, new executives -- that’s true, especially in the payments ecosystem. 2018 proved to be a major year for payments focused companies like PayPal, bank-backed P2P service Zelle, or even retailers like Amazon and Walmart, payments made up a large part of the market conversation. And in this first month of the new year. […].
Bobsguide
JANUARY 8, 2019
Conferencing is a key part of the fintech industry and one of the only ways to stay up to date with the ever quickening pace of technological change in the sector. Bobsguide compiled and previewed the fintech events not to miss of 2018 and this year is no different. This list provides you.
Insights on Business
JANUARY 9, 2019
Welcome to the brave new world of regulatory technology. On December 3, 2018, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network (FinCEN), the National Credit Union Administration, and the Office of the Comptroller of the Currency issued a joint statement encouraging the use of innovative technologies including artificial intelligence (AI) to combat money laundering.
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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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