Chris Skinner

JULY 16, 2018

During #Money2020Europe Tink, the Swedish challenger bank, interviewed me on my opinions about all things finance and technology. It’s only five minutes and think it’s probably worth the viewing as people are picking up on various comments I made, such as: “The leadership team has to be completely committed to … The post The chasm between banks with digital leadership and those without appeared first on Chris Skinner's blog.

Leadership 397

Leadership Technology Digital Banking 397

Payments Dive

JULY 19, 2018

The combination of mobile banking and biometric security in our smart devices will enable consumers to have more confidence regarding their personal security and will be far safer than it has ever been.

Security 289

Security Mobile 289

Bank Innovation

JULY 16, 2018

Financial institutions harnessing the power of big data must glean meaningful insights from many disparate data sets. Several startups helping banks and financial institutions make sense of data, alternative and otherwise, have emerged. According to one of our featured startups, Hexanika, the regulatory environment has intensified substantially lately.

Analytics 284

Analytics Data Big Data Fintech 284

PYMNTS

JULY 17, 2018

International Business Machines (IBM) and Stronghold, the financial services company, are teaming up to back a new cryptocurrency that is tied to the U.S. dollar. Reuters , citing the companies, reported that the digital token, dubbed Stronghold USD, launched earlier on Tuesday (July 17) on the Stellar blockchain platform. Buyers of the digital token deposit U.S. dollars with Prime Trust, Stronghold’s partner, and are issued the tokens on a 1-to-1 ratio.

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blockchain cryptocurrency Bitcoin Cards 183

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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

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Chris Skinner

JULY 18, 2018

The UK’s challenger banks are busy getting on with it. They’ve got their licences, they’ve deployed their services, they’re partnering with third parties and creating marketplaces. Much of this was cited in a report by CBInsights, comparing the features of the five most notable new ones: Atom, Starling, Monzo, Revolut … The post Some challenger banks are challenging appeared first on Chris Skinner's blog.

Report 284

Report Digital Banking 284

Bank Innovation

JULY 17, 2018

The digital revolution of financial services is here, and the question isn’t whether your organization should adopt a digital-first approach, but how quickly can you catch up with the digital leaders in your industry. Customers expect smart products; whether it’s payments, bank accounts, or finance options, if it’s not digital, instant, and available when your […].

Technology 256

Technology Industry Payments Online 256

PYMNTS

JULY 20, 2018

Tilray , the first cannabis company to conduct an initial public offering on a U.S. exchange, closed up 32 percent. According to Financial Times reporting, Tilray’s shares sold for a listing price of $17, higher than the original indicated range of $14 to $16 a share. The IPO raised $153 million. And at $22.39 at the close of trading on Thursday (July 19), the company had a market value of nearly $2 billion.

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Company Capital Taxes Industry 144

Chris Skinner

JULY 20, 2018

A common response to technology is to test it. The problem with testing technology is that it is just a test. A false implementation. It is not designed for reality and can lead to false results. For example, I remember one UK bank testing new technologies in one branch, to … The post The danger of the technology testing hole appeared first on Chris Skinner's blog.

Technology 269

Technology Examples Innovation 269

Insights on Business

JULY 20, 2018

IBM RegTech Innovations. When IBM acquired OpenPages in 2010, it was widely recognized as a pioneer and market leader in governance, risk and compliance software. Initially founded in 2002 to address the opportunity created by the Sarbanes Oxley Act, OpenPages’ client adoption was so strong over the coming years that by 2005, OpenPages was ranked 29 th on the Inc. 500 list of the fastest-growing private companies in the country.

Risk Management 96

Risk Management Management Compliance New York City 96

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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

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Bank Innovation

JULY 16, 2018

Bank of America will invest about $75 million per quarter in technology from now through the rest of 2019, the bank reported in its earnings call today. In its Q2 earnings call today, Brian Moynihan, chairman and CEO at BofA, said: …We continued to invest in our businesses and began an additional $500 million technology investment, […].

America 247

America Technology Innovation Report 247

PYMNTS

JULY 16, 2018

Apple Inc.’s research and development spending may have increased in the last fiscal year, but Toni Saccognahi, an analyst at Wall Street firm Bernstein , thinks the iPhone maker can spend more. In a research report covered by Barron’s , the Bernstein analyst said Apple has increased R&D spending to $12.7 billion in its last fiscal year, which accounts for more than it spent between 1998 and 2011 when it was creating the iPod, iPad, and iPhone — and is growing it at a faster clip

Apple 145

Apple Analysis Resources Innovation 145

Chris Skinner

JULY 18, 2018

I’ve been talking a lot about the Eastern and Southern Hemispheres these days. I’m adamant that these hemispheres are creating the future, whilst the North Western Hemisphere struggles with its legacy infrastructure. In particular, Europe and America are suffering from their old technology structures. Specifically, America is lagging the world. … The post The Pet Shop Boys got it wrong appeared first on Chris Skinner's blog.

America 218

America Technology Digital Banking 218

Bobsguide

JULY 16, 2018

Every cloud has a silver lining, at least that's what our elders drummed into us, an early example of expectation management and how to deal with life's challenges.

Management 100

Management Data Examples US 100

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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.

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Bank Innovation

JULY 18, 2018

Royal Bank of Canada has invested $1.1 billion on innovation over the last four years and added 1,000 employees to work on digital initiatives since 2016, Bank Innovation has learned. That amount is relatively small compared to larger banks such as Bank of America, for instance. In fact, Bank Innovation previously reported that BofA is investing $500 […].

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America Innovation Report Online 240

PYMNTS

JULY 17, 2018

When one tries to Google the phrase “millennials and mortgages,” something curious happens. Two different – and in some cases, mutually exclusive sounding – accounts of millennials and their home-buying habits, or lack thereof, emerge. Millennials are either dragging down the housing market because they can’t/won’t buy houses, or millennials are both leading the modern mortgage market and simultaneously leading it into the digital age.

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Millennials Payments Metro Montana 131

Chris Skinner

JULY 15, 2018

It was interesting reading as the UK issued its Brexit plan last Thursday. A 98-page white paper outlines the details of what Britain is asking for in leaving the European Union. Most of it is unworkable, but then Brexit itself is likely unworkable. After all, no MPs can agree what … The post Will the UK’s #Brexit plans kill London? appeared first on Chris Skinner's blog.

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Payments Source

JULY 20, 2018

Starbucks achieved rapid adoption of its mobile card app by building it on top of the highly successful Starbucks closed-loop gift card. Such a model could also apply to the cannabis market, which is largely shunned by mainstream banks and card networks.

Mobile 98

Mobile Cards Payments Marketing 98

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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.

Lending

Bank Innovation

JULY 20, 2018

A majority of U.S. business leaders (owners, managers, and executives) prefer using digital banking, and yet less than half of them have plans of increasing their use of online banking products and services, that’s according to a JPMorgan Chase survey. The survey, which was released last week, showed that the primary reason for businesses for […].

Survey 218

Survey Digital Banking Online Management 218

PYMNTS

JULY 16, 2018

Connections are about control: Who provides and oversees the connecting pieces? Who maintains the flow of goods, services, people and data through those connections? What do the connections connect to themselves? Less abstractly, the future of the automotive industry — along with the payment and commerce tasks associated with it — depends significantly on the type of technology that ties together web-enabled cars and trucks with outside networks.

United States 130

United States Technology Guidelines Data 130

Chris Skinner

JULY 15, 2018

The main blog headlines are … The Golden Age of Banking is a bit like England winning the World Cup There’s an argument raging that few have heard. The argument is whether it is the rebirth or death of banks. Many vote for the latter, but the former seems to … The post The Finanser’s Week: 9th July 2018 – 15th July 2018 appeared first on Chris Skinner's blog.

Maine 185

Maine 185

Bobsguide

JULY 20, 2018

We are nearly at the edge of a new decade, and as we approach it, developments that once left like science fiction are widely considered part of our everyday lives. Video calls, smart phones, the end of physical money that every day draws closer as cryptocurrencies and digital transfers grow in.

Video 97

Video cryptocurrency 97

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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.

Lending

Bank Innovation

JULY 19, 2018

Posting $10 billion in revenue for Q2’18, up 9% from the same quarter last year, American Express‘s post-market earnings call reveals a battle for a strategic partnership, which Amex won against JPMorgan Chase. A question was fielded from Donald Fandetti, managing director, Wells Fargo on competitive intensity: Could you talk a little bit about the […].

Management 218

Management Marketing Operations Capital 218

PYMNTS

JULY 19, 2018

American Express has filed for a blockchain-based proof of payment technology, and Santander U.K. entered into an agreement with Infosys Finacle. Traditional banks and other financial institutions are undergoing tremendous pressure right now to compete in an environment where they are faced with enormous scrutiny from government regulators looking to mitigate risk.

Fintech 117

Fintech blockchain Technology Examples 117

Chris Skinner

JULY 18, 2018

Things we’re reading today include … Virtual banking is set to shake up Hong Kong Mobile bank cashiers used post-it notes for customers U.S. Bank Looks to Expand, But Not with a Digital Bank Silicon Valley Bank hits $100m investment target in Ireland Taxman will have ‘new powers to look … The post Things worth reading: 19th July 2018 appeared first on Chris Skinner's blog.

Digital Banking 171

Digital Banking Mobile 171

Payments Source

JULY 18, 2018

Considering that cryptocurrencies are designed to circumvent the banking system, banks will need to come up with ways to protect themselves, writes Ely Pinto, chief information security officer at Bank Leumi.

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cryptocurrency Management Security System 94

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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