Sat.Jun 22, 2019 - Fri.Jun 28, 2019

Platform, marketplace, ecosystem … buzzword bingo!

Chris Skinner

I encounter lots of banter about platforms, marketplaces and ecosystems, and do wonder in the flippant way people use them interchangeably whether they really understand what they are talking about.

The role of mobile smartphones in identity verification

Mobile Payments Today

Mobile identity is becoming a more complex undertaking as fraudsters use evolving tactics to compromise smartphone security

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Payments Execs Weigh In On Innovation For The Roaring 2020s


A decade is a nice, round number — a convenient marker for what has come and what is coming. We as humans tend to measure our lives in decades, referring to ourselves as children of the ’60s, perhaps, or pining wistfully for the synthesized pop sounds of the ’80s.

Cross River Bank acquires business-banking platform Seed

Bank Innovation

Fort Lee, N.J.-based based Cross River Bank, a partner of large fintech companies like Affirm, Coinbase, Stripe and Transferwise, today acquired Seed, a startup that offers banking solutions for small businesses and sells its technology to banks. Terms of the deal were not disclosed.

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Partnering in the ecosystem is not easy

Chris Skinner

Talking of partnering, many years ago, I was assigned the role of negotiating a contract with a partner for a large technology firm. The partner specialised in the insurance markets, my focus at that time, and we got into the game of contract wording.

Facebook makes its big move into cryptocurrency with Libra

Mobile Payments Today

Cryptocurrency and blockchain technology are now mainstream. If you still doubt this fact, then take a look at Facebook, which has formally announced its entry into the cryptocurrency space

Visa Buys Rambus Payments To Tokenize Any Transaction On Any Network


In digital commerce, promise and peril co-exist. Payments fraud is continuously moving from offline settings into the online realm. To that end, Visa said this morning (June 25) that it has inked a deal to buy the token services and ticketing business of chipmaker Rambus.

More Trending

Is Big Tech good or bad for banking … the regulator’s view

Chris Skinner

The jury's still out on cashierless stores

Mobile Payments Today

Are cashierless stores the future of retail? Exactly how pervasive the concept will become remains uncertain, as demonstrated during a recent panel discussion at the Interactive Customer Experience Summit in Dallas

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Why PayPal Agreed To Take A Seat At Libra’s Table


In the aftermath of Facebook ’s unveiling of Libra and its Calibra wallet, among the many questions raised was how it managed to get so many of the “who’s who” in payments at the table.

Morningstar sees a risk to money transfer services from Libra

Bank Innovation

While Facebook‘s cryptocurrency Libra faces regulatory challenges, its potential to upend some legacy payment providers merits consideration, according to a recent report from Morningstar.

What is banking in the cloud?

Chris Skinner

Over ten years ago, I started blogging about cloud computing and financial services. Many banks dismissed the idea back then as “the regulator wouldn’t allow it”. Then the regulator did allow it in some countries, but banks were confused about the regulatory position.

Deepening The Banking Customer Relationship Through Voice Commerce

Mobile Payments Today

Through Voice Commerce banks can solidify customer relationships and deepen engagement. Learn how you can capitalize on the new wave

How ACH Business Payments Pave The Way For US Open Banking


In B2B payments, corporates’ continued use of paper checks confounds FinTech firms working to give businesses more affordable, faster and more efficient payment options.

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Goldman Sachs Explores Creating a Digital Coin Like JPMorgan’s

Bank Innovation

David Solomon may take a leaf out of Jamie Dimon’s book by exploring a digital coin for payments. Goldman Sachs Group Inc.’s

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When code is art, how do you attract great artists?

Chris Skinner

I was having an interesting conversation with a guy who had joined a big bank having previously worked in Big Tech.

A CECL Timeline for Credit Unions


We are closing in on six months until the SEC filers’ CECL effective date. While credit unions have some additional runway after the November 2018 CECL delay, there is likely less time than expected.

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Visa Launches Installment APIs For Issuers And Merchants


The installment lending playing field just got more interesting — and global — today (June 27).

With debit card expansion, TransferWise moves closer to challenger bank

Bank Innovation

Money-transfer startup TransferWise is expanding the reach of its multi-currency debit card and, in doing so, wading into bank territory. The company's borderless account initially was made available to European customers in early 2018. Now, U.S.

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Things worth reading: 26th June 2019

Chris Skinner

Americans Eager to Adopt 'Tap and Go' Payment Solutions Over Cash as Cashless Systems Evolve I Cash I Wearables I Smartwatch I Contactless

Mobile Payments Today

This infographic from TNS shares the results of an independent survey which looks at alternative payments adoption among consumers in the U.S.

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Goldman Sachs Eyes Digital Coin For Payments


In a move that could mirror the playbook of JPMorgan Chase CEO Jamie Dimon, Goldman Sachs Group Inc. Chief Executive Officer David Solomon said in an interview with a French newspaper that he is “absolutely’’ taking a look at cryptocurrencies.

How BofA solved the industry’s in-branch card issuance problem

Bank Innovation

For customers who lose their debit cards, a visit to a nearby branch is often the quickest way to resolve the situation.

The Finanser’s Week: 17th June – 23rd June 2019

Chris Skinner

The main blog headlines are … Monzo and Marcus: American challengers or just noise? My mate Ron Shevlin is on good form these days.

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Banking’s CRM Conquerors


How mid-size banks and credit unions turned CRM into success.

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The Data Breach Case Against Facebook Is Moving Forward


Facebook is still legally on the hook for a September data breach that affected 30 million of their customers. Hackers were reportedly able to exploit several software failings in order to obtain login access to consumer accounts.

Inside Citizens Bank’s point-of-sale lending strategy

Bank Innovation

As checkout loan startups like Affirm, Klarna and Bread garner funding and grow relationships with retailers, banks are putting up a formidable line of defense. Their pitch to retailers is their resources, data and brand recognition. Over the past two years, Providence, R.I.-based

Things worth reading: 28th June 2019

Chris Skinner

Facebook’s Libra looks and smells like a cryptocurrency, but it really isn’t

Daily Fintech

Last week our theme was “The FOMO crowd is back in town. Will Bitcoin have a blockbuster comeback?”. Our theme for this week is “Facebook’s Libra looks and smells like a cryptocurrency, but it really isn’t”. Facebook finally released their much anticipated white paper on Project Libra.

Retailers Show The Path Forward On AI Innovation


Retailers are getting smarter about artificial intelligence (AI), and the latest example of that innovative effort comes from Walmart. According to a new report , the retail chain, hoping to reduce checkout theft, is turning to cameras powered by AI, with deployments underway in some 1,000 stores.

BankMobile expands platform to student loan refinancing

Bank Innovation

BankMobile is deepening its relationship with customers by adding student loan refinancing to its portfolio of banking and credit products.

Things worth reading: 24th June 2019

Chris Skinner

Things we’re reading today include … Has Deutsche Bank left it years too late for a turnaround?

Here is a look at where Fintech is leading us and Why


Fintech is opening floodgates of opportunity for ambitious startups that previously had no hopes of overcoming barriers to entry in the finance field.

Mastercard On Facebook’s Libra Crypto Payments Future


The news about Libra has been out for about a week. The think pieces have come in waves, as have the reactions from analysts, cryptocurrency enthusiasts and regulators — and the world waits to see exactly what Facebook and its cadre of payments and commerce players design.

In the battle for top of wallet, Citi adds instant card rewards redemption

Bank Innovation

Citibank is hoping instant cash back rewards at checkout will encourage more card use and grow customer affinity with the brand. In July, the bank is enabling instant reward redemption capability at checkouts from both Android and iOS devices, for both online and physical store transactions.

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Things worth reading: 27th June 2019

Chris Skinner

Things we’re reading today include … Bank of America will no longer do business with companies that run detention centers Startup bank Aspiration is trying to be the anti-Wells Fargo.

Podcast: Eliminating the need to update ATM hardware in Windows migrations

ATM Marketplace

Aravinda Korala, CEO of Kal, an ATM software firm, discusses how ATM operators can avoid the added costs of replacing motherboards when upgrading to Windows 10