Sat.Jan 25, 2020 - Fri.Jan 31, 2020

A Full-Picture Approach To Thwarting Debit Fraud


Debit is a core payment method in the U.S. that has garnered particularly strong traction among consumers aged 31 to 38.

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New FICO scoring to lower risks for lenders

Bank Innovation

FICO is updating its credit scoring system to rely more on debt-to-income ratio, with consumers scoring below 600 to feel the brunt of the scrutiny. The credit bureau last week rolled out its FICO Score 10 Suite, which institutions will launch by the end of the year.

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User experience can also fuel biometric payments

Payments Source

New designs and easier authentication can boost adoption, says Fingerprints' Thomas Rex. Authentication Mobile payments Biometrics ISO and agent Payment processing

How can banks attract new customers through technology?

Bank Innovation

More and more retail and commercial customers are demanding a seamless banking experience. And it’s not just the centennials and millennials; Gen Xers and baby boomers also want immediate access to bank products and services.

US consumers reluctant to embrace contactless payments

Bank Innovation

While U.S. merchants and consumers believe in quick transactions at the point of sale, a Hanover Research survey commissioned by payments tech companies Ingenico and FreedomPay this month suggests consumers have lingering questions about the security of contactless payments.

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The Global Consortium for Digital Currency Governance

Chris Skinner

I said you’re probably sick of Davos but one last update. On Friday a major announcement affecting all of banking and finance globally seeped out under the radar. I spotted it. Did you?

More Trending

Rebeca Romero Rainey: We make every day better

Independent Banker

“Community banks work hard to ensure that every day is just a little bit better than the last.”. As community bankers, we strive for excellence.

Industry consortium on financial data sharing adds 25 new members

Bank Innovation

The Financial Data Exchange, an nonprofit industry consortium dedicated to unifying the financial industry around a common standard for secure and convenient consumer and business access to financial data, this week confirmed that it had added 25 new members in the second half of 2019.

London is still the major European FinTech centre

Chris Skinner

FinTech investment numbers are variable dependent upon how they are counted. The number I’ve been using for most of last year is that headline amount of $111.8 billion invested worldwide in over 12,000 start-ups.

Farfetch Raises $250M To Grow Luxury Fashion Platform


Farfetch, a luxury technology platform, has raised $250 million from Tencent and Dragoneer through the sale of convertible senior notes, according to a release. Tencent is a global technology company based in Shenzhen, China, and Dragoneer is an investment firm based in San Francisco.

Visa quarterly earnings rise on strong e-commerce, retail spending

Mobile Payments Today

Visa reported strong earnings during the fiscal first quarter, fueled by solid e-commerce and retail spending that offset weaker travel and restaurant spending

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Compound data: the key to digitized lending

Bank Innovation

A staggering 90% of small- to medium-sized enterprises fail. Aside from operations and strategy, one of the biggest reasons is limited funding or lack of timely cash flow.

Free banking? No, it’s 39.9 percent banking!

Chris Skinner

I recently posted a whine about HSBC charging 40 percent on overdrafts: Treating Customers Unfairly The fact I wrote this about HSBC gave the impression it was they who were the target.

New EU Policy Pushes For Data Sharing To Foster Blockchain, AI Use


The EU is looking to adopt new antitrust rules that will aim to give European companies more leeway in the market. The new rules, described by Reuters as protectionist, will be unveiled in March.

PayPal shares fall after acquisitions squeeze earnings outlook

Mobile Payments Today

PayPal shares fell Thursday after the company warned that a slew of recent acquisitions would put a slight dent in near-term forecasts. The payments firm has been on a tear recently, including the $4 billion acquisition of Honey last fall

CFPB sues Citizens Bank for failing to respond to credit card disputes

Bank Innovation

This week, the Consumer Financial Protection Bureau filed suit against Citizens Bank, alleging violations of the Truth in Lending Act (TILA), including implementing Regulation Z and the Credit Card Accountability Responsibility and Disclosure Act.

Things worth reading: 28th January 2020

Chris Skinner

Things we’re reading today include … N26 gaining deposits from US titans like Chase and Citibank UK banks approve highest number of mortgages since 2015 Author calls for Brexit coin ‘boycott’ over lack of Oxford comma £30bn pension fund: we’ll sack asset managers that ignore climate crisis New York surges … The post Things worth reading: 28th January 2020 appeared first on Chris Skinner's blog. Reading

Funding Circle CFO Exits, Replacement Named


based small business lending platform Funding Circle has announced its chief financial officer will depart the company, reports in City A.M. said Monday (Jan. Sean Glithero announced his plans to leave Funding Circle, which has already named Oliver White as his replacement.

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The Current State of Ag Lending: Challenges for Borrowers, Lenders, and How to Overcome Them


Key Takeaways The FDIC issued an advisory to FIs encouraging safe and sound lending practices in today's ag lending environment. Ag producers are predominately concerned about liquidity and income; lenders are most concerned about credit quality, competition, and weaker loan demand.

University of Toronto launches fintech bootcamp to meet local labor demand

Bank Innovation

With nearly 200 startups, five major banks, 19 venture capital firms and representation from large tech companies like Google, Facebook, PayPal, Toronto is quickly becoming a center for fintech entrepreneurship.

Fed up with talk of a climate emergency?

Chris Skinner

You’ve probably heard all you need to hear about Davos by now, so I won’t bore you with it much further … except for this.


Monzo Courts SoftBank As Part Of £100M Capital Raise


British banking unicorn Monzo is in talks with Japanese investment conglomerate SoftBank for financial assistance in its growth plans into the U.S. Monzo Co-founder Tom Blomfield sat down with senior officials from SoftBank’s Vision Fund, sources told The Telegraph on Sunday (Jan.

2020 Goals for Credit Unions Based on NCUA Supervisory Priorities


Key Takeaways Make sure your credit union is filing SARs and CTRs properly. Thoughtfully consider whether or not your CU can safely and properly serve hemp-related businesses. Strengthen credit risk by improving your credit union's loan underwriting standards.

Mastercard’s bet on fintech pays off with higher card spending

Bank Innovation

Mastercard Inc.’s s new initiative to team up with more startups on credit cards is starting to pay off. The company has been starting card programs for fintechs including Brex Inc., Revolut Technologies Inc. and TransferWise Inc.,

A Davos Day

Chris Skinner

I’ve watched Davos from afar for years now and often wondered what it would be like to be there so, when I got an invite this year, I took it straight away.

Breach Exposes Personal Data Of 1.2M SpiceJet Passengers In India


A breach of India’s SpiceJet, one of the country’s biggest independent airlines, exposed the data of more than a million passengers, per a report on Thursday (Jan. 30), citing a security researcher.

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Five Reasons You Need to Attend ThinkBIG: Fighting Financial Crime


Key Takeaways Formerly BAM+ User Group (BUG), ThinkBIG: Fighting Financial Crime has been around for 16 years. Earn approximately 10 CE credits in two-and-a-half days. Get insight on the latest product roadmaps and test out upcoming product releases before they go live.

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Inside Joust’s subscription model for freelancers

Bank Innovation

Joust, a digital banking startup geared toward freelancers, is differentiating itself by offering faster access to earned income. “The The pain points [for small businesses] are not banking. Plenty of apps do that well,” said Lamine Zarrad, CEO and co-founder of Joust. “It’s

Things worth reading: 31st January 2020

Chris Skinner

Things we’re reading today include … US banks placed on Hong Kong ‘list of shame’ over IPO date error What ancient Rome may teach on post-Brexit tourism Goldman Sachs bets the firm on a new identity U.S.

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California Lets Aurora Operate Driverless Cars


Self-driving vehicle company Aurora has been approved by California regulators to allow passengers rides in its fleet of driverless vehicles, according to reports.

Top 10 trends for banks in 2020


The weather is likely to be unstable for banks in 2020, with a high probability of storms in places. Several continuing and new indicators suggest so—from banking consolidation, Open Banking and AI to eager big-tech entrants, revenue migration and purpose-driven banking.

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