Chris Skinner
MAY 29, 2019
So my snarky little friend Ron Shevlin wrote a piece on Forbes claiming that Americans don’t want a digital bank. As the guy who wrote the book Digital Bank you might think I would take offence to such a statement, but no. I agree with his content, just not his … The post Customers don’t want digital banking appeared first on Chris Skinner's blog.
Payments Dive
MAY 28, 2019
Global Payments is buying TSYS in a merger valued at $21.5 billion, marking the latest in a series of international mergers and acquisitions of payments and POS technology companies.
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Bank Innovation
MAY 30, 2019
Japanese mobile payment app PayPay is embedding itself in rural areas to gain market share in a country where cash is still dominant. Indeed, cashless payments reportedly account for just 20% of transactions, compared to 50% in the U.S. Despite some well-heeled competitors, Japan is a largely untapped market for mobile payment providers. PayPay's chief […].
South State Correspondent
MAY 29, 2019
CREDIT MANAGEMENT No doubt, you hear all about how your competitors are winning deals because they are more aggressive when it comes to underwriting. While banks must always ask if they are taking the right risks and the right amount of risk, it is probably the competitors that you are not watching that is causing you the greatest risk. In this short article, we explore one often overlooked aspect of competitor surveillance and how this one technique can help protect your bank.
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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
Chris Skinner
MAY 27, 2019
I write a lot about FinTech payments, lending, roboadvice and such like. But there’s been a strong bubbling trend underneath all this that has not gone unnoticed. I’ve just not blogged about it enough. SMALL BUSINESS FINANCE People talk a lot about finance for SMEs – small to medium enterprises … The post FinTech’s biggest new market is small business financing … but is it worth it?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
MAY 29, 2019
SAFE Credit Union, through a partnership with NCR Digital Banking, is using geofencing technology as a trigger for push alerts to its customers. The credit union uses the tool to get feedback from customers as they leave the branch and to inform customers of potential rewards when they attend certain events or perform certain tasks. […].
PYMNTS
MAY 29, 2019
Businesses of a certain size — and in industries as varied as construction and restaurants — know the pain of wondering if they will have enough capital to fund operations, inventory, expansion and other mission-critical business activities. They know the uncertainty of going to traditional financial institutions (FIs), even those rooted in their communities, that might not want to take on the risks or economics of extending smaller lines of credit to small businesses (SMBs), with fortunes that
Chris Skinner
MAY 28, 2019
I feel sorry for Deutsche Bank. I’ve worked with the bank and they have some great people. It used to be that their investment banking services were one of the best in Europe, alongside UBS and Barclays Bank. That was before September 2008. Since then, it’s been like an old … The post The world’s most destructive bank? appeared first on Chris Skinner's blog.
Payments Dive
MAY 31, 2019
The long-awaited pilot program to test tap-and-go payments in public transit in New York City is being closely watched to see if U.S. consumers will finally embrace mobile wallet and contactless card use.
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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
Bank Innovation
MAY 31, 2019
Marcus by Goldman Sachs, Goldman's digital-only retail bank, is quickly becoming a full-service financial platform -- a threat to both challenger banks and traditional incumbent players. At an industry event in New York on Friday, the company's chief operating officer John Waldron reportedly said the company currently is building out its online retail bank Marcus to […].
PYMNTS
MAY 28, 2019
Digital assistants. Smart fridges and thermostats. Security devices, too. The Internet of Things (IoT) has gone global, an ever-expanding ecosystem that touches consumers in every facet of their daily lives. The latest Intelligence of Things Tracker shows some pretty big numbers in terms of the billions of devices already out in the field, and the billions of dollars already being spent on those devices … and it seems like things are just getting started.
Chris Skinner
MAY 30, 2019
I’ve been struggling for a while now. My struggle is that I love flying around the world, seeing new places, meeting new people, finding new things … but I hate polluting the planet. This was brought to a head this week in a back-to-back meeting on sustainable finance that made … The post Earth’s future is all down to the banks appeared first on Chris Skinner's blog.
Payments Dive
MAY 28, 2019
Over the next year, organizations will be focused on: 1) accelerating their digital business; 2) improving insights through data; and 3) addressing rising customer expectations — all while reducing costs and growing revenue.
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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.
Bank Innovation
MAY 29, 2019
One year after the launch of Bank of America's AI-powered digital assistant Erica, customers are starting to get comfortable turning to it for reports on their spending activity and for day-to-day tasks like paying bills and peer-to-peer payments. In fact, the bank said Erica's user base surpassed 7 million users this week. With Erica, Bank […].
PYMNTS
MAY 30, 2019
Visa said this week that as acceptance of EMV cards has gained traction in the U.S., counterfeit fraud, measured in dollars for these card present transactions, has dropped precipitously. The latest stats show that the continued upgrade to chip card acceptance – which began in 2015 – has led to a decrease in counterfeit fraud dollars on the order of 76 percent, as measured in December of 2018 vs.
Chris Skinner
MAY 30, 2019
Things we’re reading today include … Monzo apologises for bank transfer problems HSBC Plans Hundreds of Investment Bank Job Cuts Revolut is the most complained-about small online bank Metro Bank shares slide as fraud investigations launched Raphaels Bank fined £1.9m for poor outsourcing controls Smoothing out banking irregularities has been … The post Things worth reading: 31st May 2019 appeared first on Chris Skinner's blog.
Payments Dive
MAY 30, 2019
RiverPay is working with wellness retailer Holland & Barrett to expand the acceptance of Chinese mobile wallets, demonstrating the growing power of Chinese tourists in driving retail acceptance of mobile payments.
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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.
Bank Innovation
MAY 29, 2019
Fintech startup Plaid Inc. is expanding its footprint into the U.K., a region it believes could eventually match the U.S. in terms of revenue, despite political uncertainty. Founded in 2012, San Francisco-based Plaid helps customers and banks transmit data back and forth. The service has caught the attention of major investors, including Andreessen Horowitz and […].
PYMNTS
MAY 29, 2019
A European Central Bank ( ECB ) official is throwing his support towards wholesale central bank digital currencies (CBDCs). In fact, Vitas Vasiliauskas, a member of the Governing Council of the ECB and chairman of the board of the Bank of Lithuania, said the real issue at play is whether CBDCs should be retail, wholesale, or a combination of both. While a retail CBDC would be available for the general public, wholesale would serve a limited circle, primarily banks.
Chris Skinner
MAY 29, 2019
Things we’re reading today include … Scam victims to be refunded by banks NatWest most complained about bank for fraud claims Emirates NBD builds AI-enabled bank with AWS The digital banking revolution is here. So why are so few people putting their salaries into app-only bank accounts? European Central Bank: … The post Things worth reading: 30th May 2019 appeared first on Chris Skinner's blog.
Payments Dive
MAY 29, 2019
What are the factors contributing to the rise of CNP Fraud? What are some of the real-time use cases for fraud prevention? How are authentication technologies evolving? How does FSS Secure 3D benefit issuers. And what’s new?
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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.
Bank Innovation
MAY 28, 2019
In Barry Libenson’s four years as Global Chief Information Officer at Experian, the credit bureau has undertaken a modernization effort with a price tag in the hundreds of millions of dollars. And, according to Libenson, that investment is paying off. Silos are breaking down, operations are centralizing and the company is shifting to common platforms […].
PYMNTS
MAY 29, 2019
Western Union has expanded its services into Thailand and launched a brand new international money transfer service in the region, the company said in a release. “Customers in Thailand can now connect with their families and loved ones around the world, (24 hours a day, 7 days a week), via the Western Union mobile app or transactional Westernunion.com/th.
Chris Skinner
MAY 25, 2019
The main blog headlines are … When will the FinTech bubble burst? Reading about FinTech unicorns and pizzas worth $80 million, you would think that the world was bubbling over with wealth. FinTech investments last year peaked at over $110 billion, more than double the year before, and IPOs for … The post The Finanser’s Week: 20th May – 26th May 2019 appeared first on Chris Skinner's blog.
Accenture
MAY 30, 2019
Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks. Credit card volume and receivables continue to grow amongst the top issuing banks for the first quarter of 2019; however, the growth rate of each has been slowing compared to prior years.
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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