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

A Full-Picture Approach To Thwarting Debit Fraud

PYMNTS

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.

System 241

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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.

US 209

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.

More Trending

Top 10 trends for banks in 2020

Accenture

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.

Trends 308

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.

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.

Lunar New Year, mobile wallets and the online imperative in China

Mobile Payments Today

Lunar New Year has grown to become one of the most important market opportunities in the world of e-commerce. Everyone in the global payment ecosystem needs to consider this holiday shopping period as a metric for global e-commerce performance

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

Abrigo

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.

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.

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.

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

Why Amazon And Other Retailers Are Turning To Biometrics

PYMNTS

Retail keeps embracing numerous new technologies, and biometrics is not only one of them, but an area of recent growth and development, including via some of the biggest names in commerce.

Retail 278

Citi appeals to socially conscious investors with City Builder

Bank Innovation

Citibank will try to connect investors with neighborhoods in need through City Builder, a new digital tool launched last month.

Taxes 283

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?

2020 Goals for Credit Unions Based on NCUA Supervisory Priorities

Abrigo

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.

California Lets Aurora Operate Driverless Cars

PYMNTS

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

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.,

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.

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Five Reasons You Need to Attend ThinkBIG: Fighting Financial Crime

Abrigo

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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Bank Of France Gov Says Central Banks Should Control Crypto

PYMNTS

Bank of France Governor Francois Villeroy de Galhau said on Saturday (Jan. 25) that central banks should be in charge of issuing electronic currency, not private companies, Reuters reported.

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2020’s Top Cyber Threats in Banking

Bank Innovation

CSI, a leading provider of fintech solutions, recently polled banking executives from around the country, representing 227 financial institutions from across the asset-size spectrum to uncover their top strategies for the coming year.

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Things worth reading: 28th January 2020

Chris Skinner

From ICOs to STOs and IEOs. What is next in the evolution of crypto fundraising?

Daily Fintech

Funding is a prerequisite for any new crypto project or startup. At the dawn of the new decade, we’ve seen a decline in token sales as source of funding. Where is the capital for crypto projects going to come from?

Visa Logs 700M Visa Direct Transactions, Contactless Payments Surge

PYMNTS

Visa ’s fiscal first-quarter results showed an acceleration of cross-border volumes, while contactless payments continued to gain ground in the U.S. and beyond. Headline results showed earnings per share of $1.46, which missed consensus by a penny. Net revenues of $6.05

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.

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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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The Next Generation Of Banking Consumers Are Baby Boomers (Not Gen Z)

Ron Shevelin

The “next generation” of banking customers isn’t based on age—it’s about need. Who will have new and different banking needs that the industry will have to design and redesign products and services for