Sat.Sep 08, 2018 - Fri.Sep 14, 2018

article thumbnail

Financial Institutions Aren’t Prepared for the Digital Revolution

Chris Skinner

I recently did an interview with my American friend Jim Marous over on The Financial Brand. It’s a good interview so I thought I would post my answers here. Feel free to comment! Your newest book, Digital Human, is obviously an outgrowth from your two previous books, ValueWeb and Digital … The post Financial Institutions Aren’t Prepared for the Digital Revolution appeared first on Chris Skinner's blog.

Branding 413
article thumbnail

CBW Bank sharpens focus on digital banking, fintech collaboration

Payments Dive

Suresh Ramamurthi, chairman and CTO of CBW Bank, opened the annual Bank Customer Experience conference with a keynote speech detailing his financial institution's unique journey.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mastercard and Microsoft Partner on Global Trade and Payment Tracking Solution

Bank Innovation

Mastercard announced a new B2B payments platform for merchants yesterday, built using Microsoft Azure, the software company's cloud computing service. The service, called Mastercard Track, aims to streamline and automate the process of merchants sourcing and obtaining goods through vendors, paying for said goods, and reconciling payment with accounts receivable, also known as procure-to-pay.

Payments 271
article thumbnail

China, Alibaba Are Big Players On The Blockchain Patent Block

PYMNTS

In tech, innovation is everything. In innovation, intellectual property is, well, almost everything — it can be the hardware, the software, the processes that come from creative endeavor. And patents? Well, consider them a form of competitive advantage. News came recently, when it comes to patents tied to the blockchain landscape, that Thomson Reuters found China, and Alibaba , to have had an outsized showing.

article thumbnail

The State of Automation in Financial Services 2024 Report

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

article thumbnail

China’s blood on the carpet in P2P lending

Chris Skinner

One other thing struck me as the discussions fired away in Shanghai at Lang Di … is China going to haemorrhage and bring down the world’s financial systems … or is that just what the Western media would like us to think? The reason I raise it is that I … The post China’s blood on the carpet in P2P lending appeared first on Chris Skinner's blog.

Lending 310

More Trending

article thumbnail

SnapCheck Named Best Payments API by API:World

Bank Innovation

Digital check solution SnapCheck, a graduate of INV Fintech, this site’s sister accelerator, was named Best Payments API (application programming interface) by API:World, the largest global API conference. SnapCheck will receive the award during a special ceremony at the San Jose Convention Center tonight, Sept. 10. SnapCheck allows companies to transition from checks to realtime secure digital […].

San Jose 231
article thumbnail

Researcher Says British Airways Hack Due To Skimming Malware

PYMNTS

RiskIQ, the security firm, told outlets on Tuesday (Sept. 11) that the data breach at British Airways was due to credit card skimming installed by malware hackers. According to reports , Yonathan Klijnsma, a threat researcher at RiskIQ, told the outlet that the same group of hackers that breached Ticketmaster may be behind the attack at British Airways, in which more than 380,000 credit cards were compromised.

Data 187
article thumbnail

Loans processing for just three cents per application (thank you coders!)

Chris Skinner

I enjoyed the LendIt conference in Shanghai, and wrote a few notes. In particular, I enjoyed hearing the story of XWBank as told by Jiang Hai, the Vice Chairman. His presentation was in Chinese but, from the simultaneous translation and slides, I picked up some interesting stats. To begin with, … The post Loans processing for just three cents per application (thank you coders!

article thumbnail

Podcast Episode 10: The cashless society: A debate for the future

Payments Dive

Host Will Hernandez discusses the the future of the cashless society with Ankit Kumar from Gemalto. What are some of the positives and negatives of a future that is a cashless society?

268
268
article thumbnail

Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

article thumbnail

Bank of New Zealand Explores Biometrics in Banking

Bank Innovation

Bank of New Zealand will be launching new biometrics solutions within the next six months, Bank Innovation has learned. In April, New Zealand became one of 37 countries where biometric checks will be available. “One of the challenges we have in New Zealand is our KYC legislation specifically requires us to biometrically match an applicant with […].

article thumbnail

Bitcoin Daily: IBM Embraces Blockchain Registry; Crypto Crash Surpasses Dot-Com Bubble Burst

PYMNTS

This year’s “Great Crypto Crash” appears to be deepening and has hit a major milestone set by the dot-com bubble, Bloomberg reported. Digital currencies have tumbled from a January high by 80 percent, according to the MVIS CryptoCompare Digital Assets 10 Index. That level tops the “peak-to-trough decline” in the Nasdaq Composite Index following the dot-com bubble.

article thumbnail

Today marks ten years since Lehmans collapsed and the GFC started

Chris Skinner

It’s September 14. It’s exactly ten years since Lehman Brothers collapsed. It’s ten years since the touchpaper was lit that sparked the Global Financial Crisis (GFC). It’s exactly ten years since I landed in Vienna for Sibos 2008 on Sunday, September 14 2008, to find voicemail after voicemail asking for commentary … The post Today marks ten years since Lehmans collapsed and the GFC started appeared first on Chris Skinner's blog.

article thumbnail

India Post Payments Bank Deploys FSS Payment Stack to Scale Financial Inclusion

Payments Dive

India Post Payments Bank is leveraging Financial Software and Systems (FSS) to bring a wide range of affordable, quality banking and payment services to financially underserved customer segments – especially rural households, small and medium enterprises and women.

Payments 199
article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

article thumbnail

Artificial Intelligence Takes Priority on Banks’ Innovation Plans

Bank Innovation

Banks and fintech ranked artificial intelligence and machine learning as their top innovation priority, according to a Bank Innovation survey. Bank Innovation asked people in the banking and fintech community to list what’s top on their innovation wish list. Of the 294 people that took the survey, 32% listed ML and AI as their institution’s […].

article thumbnail

Amazon B2B Seeks Dominance — But Grainger Isn’t Rolling Over

PYMNTS

Amazon’s B2B business is growing up fast, as trade conflicts build and inject risks and threats into the larger industry landscape. Meanwhile, B2B eCommerce stands on the cusp of other changes that go beyond Amazon’s increasing prowess — changes that promise to bring the supply chain and corporate procurement, long known as a paper-based beast, further into the digital economy.

article thumbnail

Things worth reading: 14th September 2018

Chris Skinner

Things we’re reading today include … RBS boss accused of withholding information from MPs We are due a recession in 2020 – and we will lack the tools to fight it | Nouriel Roubini No 10 dismisses Gordon Brown’s warning of UK ‘sleepwalking into financial crisis’ Gordon Brown says world could … The post Things worth reading: 14th September 2018 appeared first on Chris Skinner's blog.

Tools 193
article thumbnail

The five key levers for radical transformation in financial services for digital success

Insights on Business

If Charles Darwin were still alive, I wonder what he would think about the evolution of banks? Once again, banks are being forced to evolve or die. And financial institutions that fail or refuse to become cognitive and digital will get left behind. It’s survival of the fittest at its finest. Right now, survival is hiding behind a mask of profits. Are the record profits for the financial services industry because of a better economy, or because financial institutions have become better?

article thumbnail

2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

article thumbnail

Bank of America Merrill Lynch Launches Mobile Wallets for Corporate Clients

Bank Innovation

Only months after launching a digital prepaid card for its corporate customers, Bank of America Merrill Lynch continues to expand its digital offerings for its corporate clients. As of today, corporate cardholders in the U.S. can now use BofA Merrill Lynch mobile wallet on Apple Pay, Google Pay, and Samsung Pay. In a statement emailed […].

America 170
article thumbnail

NY Challenges OCC’s FinTech Charter Decision

PYMNTS

To challenge the Office of the Comptroller of the Currency (OCC)’s decision to allow online payment companies and lenders to have national bank charters, the top banking regulator in New York is suing the federal government. In a complaint filed with a federal court, New York Department of Financial Services (DFS) Superintendent Maria Vullo said, “The OCC’s reckless folly should be stopped,” Reuters reported.

New York 173
article thumbnail

How will our children lead the world?

Chris Skinner

I was at LendIt China last week, or Lang Di as it should rightly be called. As readers know, I always get a buzz from visiting China, and this trip was no exception. It made me reflect in fact upon my last twenty plus years of coming here and seeing the … The post How will our children lead the world? appeared first on Chris Skinner's blog.

185
185
article thumbnail

Competing with robo-investors: putting the EI in AI

Bobsguide

Artificial Intelligence is advancing at an exponential rate across the globe. In the UK, a Government Industrial Strategy is now in place to ensure its success and China’s government has recently revealed a plan committing the country to becoming the world’s dominant player in.

Strategy 111
article thumbnail

Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.

article thumbnail

PayPal Launches Funds Now Feature for SMB Merchants

Bank Innovation

Payments giant PayPal unveiled a new feature that gives merchants realtime access to funds from completed sales. The feature, revealed today, is aptly called Funds Now. Like Uber’s Instant Pay, PayPal’s Funds Now feature gives select businesses across the U.S., U.K., and Australia instant access to their completed sales within seconds by eliminating holds, delays, and […].

Payments 170
article thumbnail

NEW REPORT: In The Middle East And Africa, Digital Payments Face A $1.4T Cash Challenge

PYMNTS

Despite the influx of mobile banking and payment options, plastic card use, and a focus on financial infrastructure, cash remains heavily cemented in the Middle Eastern and African economies. Reliance on cash is particularly ingrained in the unbanked and rural populations of these regions, with consumers still reaching for cash to pay for daily transactions.

Report 171
article thumbnail

Things worth reading: 11th September 2018

Chris Skinner

Things we’re reading today include … New York regulator approves Winklevoss, Paxos dollar-linked tokens Clydesdale tipped to start buying spree after investors back £1.7bn Virgin Money takeover ING CFO Timmermans to step down after $900 million money laundering fine The post-crash principle for banks: be moral or bust | Zoe … The post Things worth reading: 11th September 2018 appeared first on Chris Skinner's blog.

New York 171
article thumbnail

Uber’s ‘Pay with Venmo’ signals the slow death of traditional POS

Payments Source

It all comes down to convenience. New payment apps, like Venmo, and widely adopted mobile wallets, such as Apple Pay and Alipay, have made the consumer payment experience incredibly convenient, writes Ralph Dangelmaier, CEO of BlueSnap.

Apple 104
article thumbnail

Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.