Sat.Mar 23, 2019 - Fri.Mar 29, 2019

Blockchain is dead

Chris Skinner

I used to blog about blockchain and distributed ledger technology (DLT) almost once a week … four years ago. Today, I hardly blog about it at all.

India’s Federal Bank Teams Up With Blockchain Co Ripple For International Payments

PYMNTS

Federal Bank in India has partnered with blockchain payments company Ripple to facilitate cross-border payments, according to reports. Federal Bank confirmed the collaboration in an announcement to the Bombay Stock Exchange on Thursday (March 28).

Apple Reinvents (Improves?) the Credit Card

Credit Union Geek

Today, Apple held their seasonal keynote event, to highlight new services in a range of categories. You may get a kick out of their Apple TV+ lineup. Maybe you’re stoked about reading all your magazines on your iPhone with Apple News+. But you’re here for Apple Pay improvements.

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Instagram Checkout tests power of social media for mobile commerce

Mobile Payments Today

Instagram's new in-app shopping experience with PayPal is testing how social media can influence retail shopping and payment decisions

Everything you need to know about Apple’s new credit card (and a bit more)

Chris Skinner

I was about to write a really nice piece about Apple’s announcement of the launch of a new credit card, in partnership with Goldman Sachs, when Brian Roemmele beat me to it. Who is Brian Roemmele you ask? And if you are asking that … WHERE HAVE YOU BEEN?

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Visa Partners With Remitly On Real-Time Global P2P

PYMNTS

Instant payments — and the ability to push funds immediately across the debit rails to consumer bank accounts — has entered something of a renaissance.

Hong Kong Permits Virtual Banks in Test to Traditional Lenders

Bank Innovation

Hong Kong’s traditional banks are set to face one of their biggest challenges yet: a new breed of financial technology firms estimated to snare as much as 30% of their revenue.

More Trending

Everything you need to know about Apple’s new credit card (and a bit more)

Chris Skinner

I was about to write a really nice piece about Apple’s announcement of the launch of a new credit card, in partnership with Goldman Sachs, when Brian Roemmele beat me to it. Who is Brian Roemmele you ask? And if you are asking that … WHERE HAVE YOU BEEN?

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Uber To Acquire Careem For $3B

PYMNTS

Uber, the ride-hailing startup, is reportedly gearing up to make a $3 billion bid for Careem Networks , the Dubai-based ride-hailing company. According to a report in Reuters , citing sources familiar with the deal, Uber could make the offer during the early part of the week. Uber is offering $1.4

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Traditional FIs Need to Launch Digital-Only Standalone Banks to Compete, Citibank Report Says

Bank Innovation

Challenger banks are posing a real threat to traditional banks. How real of a threat?

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Wearables may drive contactless, reduce POS time

Mobile Payments Today

Ralf Gladis, founding director, Computop, explains why with the growing adoption of wearable devices, merchants have a clear opportunity to help improve the payments experience for merchants and consumers alike

If banks provide no advice, what do they provide?

Chris Skinner

For many years, banks have talked about moving away from transactions and towards advice. The branch is for advice. We will become trusted advisors. We see the value-add of banking is the information we can analyse around your data to offer advice. Complete rubbish.

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Apple Debuts Apple Card, A Virtual (And Physical) Credit Card

PYMNTS

And so a tech giant gets into the credit card game. And not just any tech giant – it’s Apple, the company whose payment services were touted (by at least some) as a credit card killer.

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Why FIS chose IBM Safer Payments for payment fraud prevention

Insights on Business

With new payments products surfacing regularly, unpredictable threats also continue to increase with these new platforms and services. Balancing the need for adequate antifraud measures without impacting the customer experience has never been more important.

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Consumer Utility and Telecom Payments Can Help Lenders Reach Underserved Population, Report Says

Bank Innovation

A person’s utility bill can reveal a lot about their financial profile. And many banks and alternative lenders are using this data to underwrite loans, Sanjoy Malik, CEO and co-founder of utility data provider Urjanet, told Bank Innovation. “A

Report 157

Women in FinTech … yes, we care

Chris Skinner

So, I blogged last week about women in FinTech and whether we care, and got lots of replies … from women … who said yes, we care. Interesting that there were not so many replies from the other gender, but hey what do you expect?

Square Debuts Invoices App For SMBs

PYMNTS

Square has released a new app called Square Invoices to help businesses design, manage and send invoices from anywhere, the company announced on Tuesday (March 26). The app works in real time and lets users handle all facets of their business from their mobile devices.

IBM hosting two day Sales Performance Management Summit in New York City

Insights on Business

IBM is excited to be hosting the 2019 Sales Performance Management Summit, being held in New York City for sales executives and compensation leaders. Highlights include customers who tell their stories from implementation, to go-live, to next steps on the sales performance management journey.

11 Startups Show Their Latest and Greatest at INV Fintech Demo Day

Bank Innovation

Eleven startups participated in the Demovation challenge at the Bank Innovation Ignite conference in Seattle earlier this month. These startups, diverse in focus, comprised a wide range of the fintech ecosystem, including payments, security and blockchain.

Does FinTech worry policymakers?

Chris Skinner

Not sure if anyone noticed that the Financial Stability Board – the world’s central banks tasked with maintaining financial stability – produced a white paper on FinTech last month. It was published on Valentines Day, so you were probably busy, and I only just stumbled across it.

Will Amazon Pay Plus Worldpay Conquer Food?

PYMNTS

Most of the payments chatter last week focused on FIS’ mega acquisition of Worldpay. The topic of conversation was the inevitable consolidation of the payments sector, as scale becomes critical to optimizing the payments experience and innovating new payments flows.

Incentive Compensation Management: Performance and scalability matter

Insights on Business

Do you ever look back and wonder, “How did I get here?” Or perhaps, “How did my career path land me this position?” and “Am I doing what I originally planned to do after completing my education?” Most of my marketing colleagues don’t know that I used to develop software as a computer programmer.

Banesco USA Favors Fintechs over In-house Teams to Implement New Tech

Bank Innovation

Working with $11.9 million from its shareholders to continue growing and investing in technology this year, Banesco USA entered into an agreement recently with Silicon Valley-based accelerator Plug and Play Fintech. The Coral Gables, Fla.-based

If banks provide no advice, what do they provide?

Chris Skinner

For many years, banks have talked about moving away from transactions and towards advice. The branch is for advice. We will become trusted advisors. We see the value-add of banking is the information we can analyse around your data to offer advice. Complete rubbish.

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New IoT Security Bill Exposes Rising Data Protection, Safety Concerns

PYMNTS

Approximately 20 billion IoT-enabled devices will be connected by 2020. These items are fast, handle an increasingly large amount of personal and financial data and tend to be prone to cybercriminals’ attacks. A large-scale, IoT-based breach has yet to occur, but the seeds are already sprouting.

AML is a global issue – are your risk controls global too?

Insights on Business

Money laundering is an increasing global issue, often involving multiple countries, intermediaries and organizations. One needs to look no further than recent headlines concerning an Iranian-backed Lebanese terrorist organization or a Malaysian government development company to witness this troubling trend. AML and sanctions risk in every corner of the world.

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Conversational AI Firm Kasisto Partners with U.A.E. Digital Bank Liv

Bank Innovation

United Arab Emirates-based digital bank Liv on Wednesday launched its virtual assistant Olivia, which was built by conversational AI company Kasisto. Olivia, a play on the bank’s name Liv, can check balances and give spending insights through text and the bank’s mobile app.

Does FinTech worry policymakers?

Chris Skinner

Not sure if anyone noticed that the Financial Stability Board – the world’s central banks tasked with maintaining financial stability – produced a white paper on FinTech last month. It was published on Valentines Day, so you were probably busy, and I only just stumbled across it.

Why Brick-And-Mortar Merchants Are Tapping Into Unattended Retail

PYMNTS

To help meet customer expectations in the digital age, retailers have to know who their shoppers are and what they want. While eTailers already have this information about consumers, brick-and-mortar retailers don’t have this in-depth knowledge.

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The battle of Fintech is over, the battle of TechFin is about to begin

Daily Fintech

Image Source. Jack Ma famously called Alibaba and their tech giant peer group – TechFins, declaring their intention to sneak into financial services. Banks were too focused on their battle with Fintechs then, that they perhaps were blindsided by the rise of TechFins.

Bank Branches Embrace New Strategies as Closures Abound

Bank Innovation

The migration of consumers to online and mobile banking options, in addition to automation and other technological forces, has helped fuel thousands of bank branch closures over the past few years. However, banks have hardly given up on figuring out new ways to transform branch banking.

Women in FinTech … yes, we care

Chris Skinner

So, I blogged last week about women in FinTech and whether we care, and got lots of replies … from women … who said yes, we care. Interesting that there were not so many replies from the other gender, but hey what do you expect? One interesting insight is that … The post Women in FinTech … yes, we care appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid Opinion

Fixing The KYC And AML ‘Horse-and-Buggy’ Model

PYMNTS

The numbers are sobering. Even staggering. When it comes to financial crime, it seems, the bad guys are getting away with financial murder.

How Millennial Ethics Are Reshaping Fintech

CB Insights

Over the next few decades, baby boomers and Gen X will pass on $30T in wealth to the millennial generation.

SigFig Launches Advice and Sales Platform for Retail Banks and Customers

Bank Innovation

SigFig, a San Francisco fintech specializing in robo advice, today unveiled SigFig Atlas, an interactive platform for financial advice and software-guided sales that faces both retail banks and their customers.

The Finanser’s Week: 18th March – 24th March 2019

Chris Skinner

The main blog headlines are … Deutsche Bank and Commerzbank: the sick dogs of Europe #Brexit Watching the debacle of the #Brexit debate in Britain, you might think that the UK is in a national meltdown.

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Smart Cities? Sure, But Not Without Big Roles For Payments

PYMNTS

It started, arguably, with mass transit , though with many bumps along the way, as the problems are slowly being solved while still bedeviling many cities.