Bank Innovation
JUNE 2, 2016
Now, even Skype is a banking channel. The Cooperative Bank of Epirus (CBE), based in Ioannina, Greece, has launched video customer service using Skype in April for its online banking customers. Currently in testing with a select group of customers, the service will roll out to all customers “in the near future,” according Read More.
Chris Skinner
JUNE 1, 2016
I’m being lazy this week and just posting other people’s reports, but only because they’re really interesting. This is Boston Consulting Group’s latest analysis of what’s happening in retail banking. The Financial Brand did a good summary of their report, and BCG summarize their findings as follows: Despite a tentative financial recovery, the retail-banking industry faces … The post Retail banks must simplify or die appeared first on Chris Skinner's blo
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Payments Dive
JUNE 3, 2016
Oren Levy, CEO of Zooz, gives us an overview of what's going on with mobile payments and consumers worldwide.
Abrigo
JUNE 3, 2016
The Financial Accounting Standards Board’s (FASB) long-awaited final guidance on its new standard for measuring expected credit losses is expected to be released in June, a step that will be a major milestone in the multi-year development of the current expected credit loss (CECL) model. As Sageworks Chairman Brian Hamilton has noted, the timeline for implementation means that banks and credit unions shouldn’t panic or rush to make wholesale changes to their existing methodologies for the allowa
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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
Bank Innovation
JUNE 1, 2016
Visa may soon start targeting PayPal in ways you’ve “never seen before,” CEO has warned investors. PayPal has long been walking the line with traditional payment networks. So when asked about the “friend or foe” debate with PayPal, Visa CEO Charles Scharf said out loud recently what many have long been thinking: I’ve Read More.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
MAY 31, 2016
In part two of our chat with Patrick Gauthier, Mobile Payments Today speaks with him about cart abandonment, Amazon's role in mobile commerce and how the way we pay is changing.
PYMNTS
JUNE 1, 2016
Like most people, I still make the majority of my purchases with credit cards. But the one place I’ve always used my phone to pay has been Starbucks. Why did I never think twice before using the Starbucks mobile app to pay for all my purchases there? For the same reasons that it has become one of the most popular mobile payments experiences in the world — it was easy to use, accepted at most Starbucks, and had a rewarding loyalty program.
Bank Innovation
MAY 30, 2016
If you are introducing a new platform, you need a “killer app.” These are applications so useful that people need the platform so they can have access to the app. VisiCalc and Lotus 1-2-3 were some of the first killer apps. All of a sudden, managers needed PCs so they Read More.
Chris Skinner
JUNE 2, 2016
During one part of my recent conference activity, I asked the banks in the audience how they organised their innovation strategies. All of them have one, is the good news. All of them have different nuances of how they structure for innovation however. The most common structure appears to be to have innovation under the … The post Banks know it is better to be the second mouse appeared first on Chris Skinner's blog.
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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
Payments Dive
JUNE 2, 2016
It's time for a look back at May's most-read articles on Mobile Payments Today.
PYMNTS
JUNE 3, 2016
Visa just rolled out the next generation of payments wearables: an NFC-enabled payment ring. And it’s bringing it to the Olympics for the Visa-sponsored athletes to use at the Rio 2016 Olympic Games. This is the first prototype of its kind to be backed by Visa. These NFC payment rings will be used by all Team Visa athletes in Rio, along with 45 Olympic hopefuls from around the world.
Bank Innovation
MAY 31, 2016
Loyyal – blockchain-based loyalty and rewards platform – has partnered with Dubai Future Foundation to create “world’s first” tourism incentives program powered by blockchain and smart contract technology, the company announced yesterday. Partnering with several global companies, such as Digitus and SquareCircle, Loyyal allows tourists to collect reward points based on Read More.
Chris Skinner
MAY 29, 2016
Our main stories of this week includes … The future of banking, money and finance [Presentation] I’ve been presenting a summary of Digital Bank and ValueWeb for a few months now. It is the story of the origins of moneykind and, as many have now heard the story, I thought it’s about time to share this on the blog. If you … The post The Finanser’s Week: 23rd May – 29th May 2016 appeared first on Chris Skinner's blog.
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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.
Bobsguide
MAY 30, 2016
Almost half of firms operating in the sector (46%) ranked cyber security as the top systemic risk to the economy, with more than 70% of banking CEOs identifying poor cyber security as a threat to growth – making cyber security as much a boardroom issue as it is a technical issue. And.
PYMNTS
JUNE 3, 2016
Complainants in a Nevada lawsuit are accusing the owners of what’s believed to be a fake payments processing company of stealing millions of dollars from an online seller. That seller is beauty product retailer DermaKtive, which claims that a man committed fraud with the assistance of his mother and girlfriend. This fraud reportedly involved using what was believed to be payment processing for credit and debit card transactions, along with refunds.
Bank Innovation
MAY 31, 2016
Which CEOs are making the most in financial services? King of the Comp was Frank J. Bisignano, the CEO of First Data, who pulled in nearly $52 million of total compensation last year, a whopping 454% year-over-year increase, according to new data from Equilar provided to The New York Times*. Read More.
Chris Skinner
MAY 30, 2016
I caught sight of a report by Deloitte over the weekend that says the marketplace lenders like Zopa and Lending Club are no serious threat to banks. This follows the report by Goldman Sachs a year ago, that said 20% of bank lending will move to these platforms over the next decade. Who’s right and … The post Deloitte say Marketplace Lenders are NO threat to banks appeared first on Chris Skinner's blog.
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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.
Bobsguide
MAY 31, 2016
There’s no doubt that the swelling success of London’s fintech ecosystem has helped put the capital’s tech scene on the global map. From early outriders like Zopa, which was the first peer-to-peer lending platform in the world and the billion-dollar businesses like TransferWise and.
PYMNTS
MAY 31, 2016
There’s a new app in town that wants to make it easier to remember to pay those credit cards. Or as its co-founder Jason Brown told Mashable : “It’s kind of like a self driving car for your credit card.” Yes, the apps have taken over. And it has one goal: making sure those credit card companies don’t slap the consumer with another late fee again.
Bank Innovation
MAY 31, 2016
Fidelity Investments is launching its digital wealth management tool, a.k.a. robo-adviser, later this summer, a company spokesman told Bank Innovation today. The new product, Fidelity Go, has been in customer pilot for the past two months, and, based on customer feedback, will be ready to go live soon. It’s a completely separate Read More.
Payments Source
MAY 31, 2016
When it comes to the speed of payments, consumers used to be satisfied with just real-time confirmation of a person-to-person (P2P) transaction and the promise that funds were on their way. This isn’t necessarily the case anymore, and the social implications associated with payments are driving the shift in demand.
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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.
Bobsguide
MAY 31, 2016
As the threat of cyber attacks soars, the ability to verify who customers say they are has never been more vital. Winner in the category of ‘Innovation in cyber security and anti-fraud’ category at the Fintech Innovation Awards this year, Trulioo’s GlobalGateway product aims to.
PYMNTS
JUNE 3, 2016
Is bitcoin making a comeback? Oh, if we had a bitcoin for every time we’ve heard that question. Actually, that would be pretty difficult to calculate how much we’d actually have in real dollars since its price trend is so volatile. Every time bitcoin shoots above the $500 mark, the digital currency world starts buzzing about why bitcoin is here to stay and why it’s going to shoot above the $600 mark soon.
Bank Innovation
JUNE 3, 2016
The digital payments space is crowded and competitive, but that doesn’t seem to concern JPMorgan Chase at all. Quite the opposite: the bank’s Chief Executive Jamie Dimon said at a conference yesterday that Chase will be “very competitive” when it comes to online payments and mobile wallets. We need Chase to Read More.
Payments Source
JUNE 1, 2016
The 'decentralised apps' tied to blockchain bring increased transparency, automation and security to traditional payment systems. This can create a domino effect that leads to a reduction in operational costs, accounting expenses, and friction which can benefit the business and pass savings on to customers.
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