Sat.Jul 06, 2019 - Fri.Jul 12, 2019

The 10-year-old who runs a blockchain company

Chris Skinner

I often talk about the world changing thanks to young people who can code.

Europe as a model for US payment security

Mobile Payments Today

Efforts by European regulators to provide stronger authentication could serve as a model for payments in the U.S., as multi-factor authentication is already available in mobile wallets like Apple Pay

No hoodies or garages: Huddl’s Corliss on his move from big finance to startup

Bank Innovation

At first glance, Stephen Corliss, whose resume includes senior roles at Blackrock and UBS, seems an unlikely candidate to lead a startup. But Corliss, 50, wants to use his experience from the world of big finance to help solve problems for customers of more modest means.

Kleptocracy – What Does it Mean to Community Financial Institutions?

Abrigio

The term kleptocracy has been used in the financial crimes profession for years, but many AML professionals do not understand its meaning and therefore are not adequately monitoring for it within their BSA/AML program. So, what is a kleptocrat?

Banks and FinTech Partnerships: a Clash of Extremes

Chris Skinner

A few years ago, I posted a guest article from Philippe Gelis, co-founder and CEO of FX firm Kantox, on Why FinTech Banks will rule the world.

Driving payments innovation in the global travel space

Mobile Payments Today

Innovations in the payments space are driving significant changes in the global travel industry.

Lawmakers Push To Fast-Track Crypto Regulation

PYMNTS

Are new bitcoin rules coming? According to The Wall Street Journal , “the Internal Revenue Service is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers.

More Trending

The regulator’s view of Facebook’s Libra currency

Chris Skinner

A lot of discussion at the United Nations, where I’ve been all week (blogging about that next week), has raised the question of Libra, the Facebook digital currency.

As PSD2 deadline draws near in Europe, calls for delay grow louder

Mobile Payments Today

As the mid-September deadline draws closer to tighten authentication rules for commerce transactions, an increasing number of banking, merchants and payments processors say the industry is not quite ready to flip that switch

Banks, Govs Show Continued Resistance To Facebook’s Libra

PYMNTS

Many traditional banking institutions and governments have shown skepticism, silence and resistance to Facebook’s proposed cryptocurrency Libra, according to reports. . Though the currency could potentially alter the financial landscape for good, many banks have simply not responded to the issue. “We’re

Chase launches digital investment solution to compete with robo-advisers

Bank Innovation

JPMorgan Chase has rolled out a digital investment product that will help grow its relationships with the 60 million-plus U.S. households it counts as customers. You Invest Portfolios, which launched this week, is a mix of J.P. Morgan ETFs that balance risk and returns based on customer preferences.

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A mortgage in an app?

Chris Skinner

The next day, the grandson came to visit his grandfather again, and immediately returned to the conversation of yesterday. Grandson: Granddad, you know you were talking about how money and banking used to be. Well, I think it’s a lot better today. Granddad: How so, lad?

Chase, HSBC executives headlining BCX Summit

Mobile Payments Today

Executives from two of the country's largest banks, Chase and HSBC, will keynote the upcoming Bank Customer Experience Summit, Sept. 23-25 in Chicago

The Future Of Compliance: Using Data Better

PYMNTS

In the pre-digital age of financial services, AML/KYC was a very slow process. The government would put out their lists of sanctioned entities – hostile governments, drug kingpins, organized crime organizations and affiliates, etc. –

Remitly secures $220m to add services beyond remittances

Bank Innovation

Remitly, a Seattle-based online international money transfer service, announced $220 million of new financing on Wednesday to expand its global customer reach and stretch beyond remittances into other areas of financial services.

Two weeks to pay someone? Luxury!

Chris Skinner

Being raised on Monty Python, an old sketch popped into my head (The Four Yorkshire Men) and led to a thought. A grandfather and grandson are at the dinner table … Grandfather: Ah, when I was a lad, life was very different. Grandson: In what way, grandad?

Podcast Episode 18: Earned income: Early access

Mobile Payments Today

Branch CEO Atif Siddiqi addresses the fight to help consumers gain financial flexibility

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Cannabis Law Reform Gains Momentum In Congress

PYMNTS

In a first-ever congressional hearing on marijuana law reform, the House Judiciary Subcommittee on Crime, Terrorism and Homeland Security convened July 10 to debate altering federal law around cannabis, CNBC reports.

Beyond bots: real conversations that humanize customer experience [Sponsored]

Bank Innovation

Survey after survey tells us that customers continue to value their experience at the branch. Perhaps it is because humans reassure them. A handshake, a frank conversation about the future, the eye contact, a personal story – these are exchanges that build trust and relationships.

The Finanser’s Week: 1st July – 7th July 2019

Chris Skinner

The main blog headlines are … How can you be AI with DD? No, I don’t mean Attention Deficit Disorder, which would be ADD, but I mean Artificially Intelligent with Dumb Data.

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Case study: Driving effective sales performance with today’s SPM solutions

Insights on Business

Organizations are fast realizing the value sales performance management (SPM) solutions are bringing to the table in terms of increased sales performance and operational efficiencies.

What Digital ID Will Mean For Daily Life In 2020 And Beyond

PYMNTS

The questions that seem simplest tend to be the most complicated. The answers to such questions also usually end up having more significance than the answers to other inquiries. Excuse the detour into pop philosophy or Jedi teachings, but that is the case when it comes to the question “Who are you?”

Brazilian challenger banQi is working with a mass retailer to lock in customers

Bank Innovation

Airfox, a three-year old Brazilian financial startup that has raised more than $16 million, wants to enhance consumers' confidence in digital-only banking through its challenger brand banQi.

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Things worth reading: 9th July 2019

Chris Skinner

Things we’re reading today include … Big ax falls as Deutsche Bank to lay off 18,000 in $8.3 billion ‘reinvention’ What went wrong at Deutsche Bank?

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Sales stories from the front lines: Lessons from clients in driving sales behavior

Insights on Business

Sales is the lifeblood of business.

How APIs Level The B2B eCommerce Playing Field

PYMNTS

In B2B commerce’s pursuit of the “Amazon-like” experience, both buyers and vendors have quickly discovered that business-to-business cannot take the same path that the business-to-consumer market did.

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Open Bank Project’s Chaib: Open APIs will benefit banks and startups

Bank Innovation

Good news for fintech startups: In the future, every bank will have an API. That’s according to Ismail Chaib, chief operating officer at Open Bank Project, a Berlin-based open source API platform for banks.

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Things worth reading: 11th July 2019

Chris Skinner

Are transaction fee economics for payment services diminishing?

Accenture

Guest bloggers Anupam Majumdar and Arnab Sinha from our European payments strategy team provide perspective on dissecting the changing revenue fundamentals of European payments.

InstaReM CEO On Why They Want A Digital Banking License

PYMNTS

When Facebook’s Libra news broke like a tidal wave on the payments and commerce ecosystem a few weeks ago, there was no shortage of opinions about what it meant and whether or not it would take the world by storm.

Savings app Digit is focusing its growth strategy on Gen Z

Bank Innovation

Savings app Digit is pinning its hopes on millennial and Gen Z customers who are storing up funds for a rainy day.

Things worth reading: 10th July 2019

Chris Skinner

Things we’re reading today include … What’s the point of a bank if it won’t accept cash?

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Why It Is Critical to Update Your Core Deposit Study

Abrigio

By Urum Urumoglu Senior Consultant A financial institution’s internal pricing decisions and strategies are crucial to the safety and the soundness of the organization and to its interest rate risk management process in particular.

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Automated Retail Speeds Up Delivery And Checkout

PYMNTS

Automated retail might conjure up images of robot cashiers, but beyond a few convenience stores in Japan and Korea, that sci-fi development hasn’t yet become reality for the wider world. Robotics might take over delivery jobs before they make cashiers redundant in the U.S., though.

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Backed by MUFG, payments app Kyash wants to get into consumers’ mobile wallets

Bank Innovation

Japanese mobile payments app Kyash is making a play for consumer wallets with a Venmo-style digital and physical debit card that handles merchant payments and peer-to-peer money transfers.

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Africa: Sports as a Business and a Brand

Bankelele

At the ongoing Africa Cup of Nations in Egypt, the visual imagery of almost-empty stadiums is a powerful narrative. But not the kind that African sports, African football, or corporate sponsors deserve.

Auditors Will Evaluate CECL Estimates as ‘Fresh Start’ From Incurred Loss Model

Abrigio

A subcommittee of the AICPA task force focused on the current expected credit loss standard (CECL) has provided its first look at how auditors will approach the changes with clients, noting that CECL represents a “fresh start” from the incurred loss model.