Bank Innovation
JANUARY 11, 2017
Change is imminent in banking, and as we begin the new year the only debate seems to be what is going to be driving that change. Over the course of 2017, what is going to transform banking the most? Well, we have some ideas. 1. IOT Voice Commerce/Voice Payments Smart Read More.
Payments Dive
JANUARY 13, 2017
Smartphones are driving an e-commerce revolution. While mobile payments can adversely affect the need for kiosks in some situations, most industry observers see mobile payments as another payment option that kiosk operators need to consider to meet consumer buying habits.
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Chris Skinner
JANUARY 9, 2017
I seem to find most of the truly exciting stories these days are happening in unexpected places. Tanzania, Indonesia, Turkey, China, Brazil … and specifically India. I wrote a fair bit about the demonetisation program in India at the beginning of December, saying that it’s a laudable objective but a flawed one, as 95% of the … The post India’s demonetisation – taking the bull by the horns appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 9, 2017
Supermarkets aren’t generally the sorts of things that generate massive, dedicated fan bases. Certainly most shopper have a preferred grocery store (or at least one they tend to frequent more often than others) — but in general, it is not something most people talk all that often about since on the whole shopping for groceries doesn’t register all that highly on the excitement meter.
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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
Bank Innovation
JANUARY 13, 2017
According to mobile analytics firm Flurry, overall mobile app usage grew 11% year-over-year, with the time spent on mobile business and finance apps growing 43%. Gaming apps, meanwhile, experienced a decline in usage—strange for the year that spawned the goliath Pokémon Go—with time-spent down by 4%. According to the data, Read More.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
JANUARY 12, 2017
So one of my 2017 forecasts is coming true already: it is the year that blockchain moves out of proofs of concept and work and into the mainstream. Two great examples broke out this week from skunk works to media. The first I spotted was the Chicago Mercantile Exchange (CME) Group using bitcoin for various … The post Two mainstream blockchain developments already appeared first on Chris Skinner's blog.
Accenture
JANUARY 11, 2017
We have been looking at the results of ground-breaking new research from Accenture and Fjord on the subject of Money Mindsets. These are the four new financial behavioral segments with which bankers should become acquainted if they want their product. Read more.
Bank Innovation
JANUARY 10, 2017
IBM is way past looking for blockchain use cases — it has between 300 and 500 blockchain projects going at the moment, according to CEO Ginni Rometty. In an interview with Bank of America CEO Brian Moynihan (Moynihan interviewed Rometty) Rometty revealed some of the areas where she sees blockchain Read More.
Payments Dive
JANUARY 12, 2017
Mobile Payments Today was at this year's Consumer Electronics Show, the 50th edition of the gathering in Las Vegas.
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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
Chris Skinner
JANUARY 13, 2017
In case you missed it, there was an important keynote speech by Yves Mersch, Member of the Executive Board of the ECB, at a conference in France last Friday. It has some key announcements in there, so I’m reproducing the speech here for those interested in immediate payments and what Europe is doing. Keynote speech … The post 2017 – a decisive year for retail payment services in Europe appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 10, 2017
In retail, inventory is what you’ve got and you hope they want. But when it just sits there gathering dust, money isn’t coming in, and space is being wasted. Human judgement — what to offer, where and when, and for how much — drives inventory decisions. But human judgement is, of course, fallible if it does not have the correct information at hand. Technology, as it does so often with every corner of life, can help augment that (retail) judgement.
Bank Innovation
JANUARY 10, 2017
LAS VEGAS – Paying with your phone, watch, coffee mugs, and now, your car too: the IoT has come a long way. Honda partnered with Visa to illustrate the first proof-of-concept demonstration of in-vehicle payments at the CES 2017 in Las Vegas last week. The in-car dashboard notifies drivers when Read More.
Payments Source
JANUARY 13, 2017
Southeast Acquirers Association is a not-for-profit, non-membership, independent association for all acquiring bankcard professionals. Founded in 2000, the SEAA was established to fulfill the education needs of the ISO and MSP community, providing economical access to the payment processing industry’s latest trends and regulatory changes. The mission of the SEAA is to provide a regional opportunity for training, education, and networking for the acquiring community.
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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.
Chris Skinner
JANUARY 10, 2017
I write so much that I sometimes forget what I’ve written, where. For example, Mark Sievert of Silicon Valley Bank made an interesting comment on my predictions for 2017: Happy New Year Chris! One topic I am not hearing much about is the OCC December decision to offer Federal Charters to Fintech firms. [link] Many … The post Will the USA see a surge of FinTech banks launch this year?
PYMNTS
JANUARY 9, 2017
The B2B payments space has just grown, thanks to the new presence of PayPool. The U.S. company, founded just last year, made an announcement Friday (Jan. 6) that it has officially begun services with the launch of its bulk payment and distribution service. Companies upload payment information via digital document to the PayPool portal, which then validates that information to ensure compliance.
Bank Innovation
JANUARY 13, 2017
It’s possible that if we did nothing, the problem will eventually work itself out, but if you look around most conferences these days, there are very few people of color. Banks and fintech companies offer a robust, growing segment of the economy – what will it take to convince people Read More.
Jeff For Banks
JANUARY 8, 2017
Jeff Weiner , CEO of LinkedIn, penned a post titled The Three Qualities of People I Most Enjoy Working With that was based on a Venn diagram (see below) he had previously posted. The diagram had 20k+ likes and comments on LinkedIn, and 2.2k retweets and favorites on Twitter. Does any bank culture produce these qualities? Does yours? There are headwinds.
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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.
Chris Skinner
JANUARY 12, 2017
I’m just starting a project on real-time, immediate, faster payments or whatever you call it. It’s basically making a payment that is either settled within seconds or the data is moved and settlement takes place at a later time, but it look immediate. There’s lots of reports out there about immediate payments, with my favourite … The post Where’s the ROI in immediate payment systems?
PYMNTS
JANUARY 12, 2017
Covet Fashion, which has more than 500,000 daily users, is aiming to celebrate women and change the way they feel about themselves through an evolution of its game-like styling platform, Style Challenges. In working with Glu Mobile Inc., the two companies announced that 50 new virtual models are now on the platform — ones with more shapes, sizes, heights, skin colors and facial features.
Bank Innovation
JANUARY 11, 2017
Smart technology continues to change the behaviors and expectations of all consumers, from baby boomers to millennials. It’s a fact that’s part of our lives now, and it’s certainly true regarding the ways consumers currently view the bank branch. But, although branch traffic and transactions are decreasing as customers enjoy Read More.
Bobsguide
JANUARY 9, 2017
2016 has been a big year in cyber security. The Internet of Things (IoT) facilitated Distributed Denial of Service (DDoS) attacks on scales never seen before. The Russian ‘Fancy Bears’ hacking team leaked athlete’s medical data, and Tesco Bank suffered a very public incident when.
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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.
Chris Skinner
JANUARY 12, 2017
Things we’re reading today include … Exclusive: Morgan Stanley cuts bankers, bonuses as deals, IPOs stall – sources Worldpay founder to launch challenger bank Five signs this week that the UK economy is thriving post-Brexit Marine Le Pen’s nerve-jangling plans to revive the French franc UK companies would cope with ‘hard Brexit’, says Fitch boss … The post Things worth reading: 13th January 2017 appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 11, 2017
When it comes to faster payments, we have decidedly achieved liftoff. Faster payments solutions are gaining traction as more companies roll out solutions to help companies distribute funds faster between businesses, institutions and consumers. As 2017 kicks off, new developments in payments technology are expected to shake up the industry. The January Faster Payments Tracker™ showcases several new occurrences that could alter the way companies do business.
Bank Innovation
JANUARY 10, 2017
When it comes to bots, no one has more variety than Slack. More than 500 bots populate the popular messaging platform. This activity has naturally led to an interest in companies creating bots. Since the launch of its $80 million Slack Fund in Dec. 2015 – backed by the likes of Read More.
Payments Source
JANUARY 8, 2017
Uber and other digital commerce plays are drawing attention to online fraud and innovation. Payment companies and merchants will need to adjust to meet the pace of change in the year ahead.
Advertiser: Data Robot
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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