Chris Skinner
OCTOBER 6, 2019
It’s been interesting to watch the development of Facebook’s Libra project. As I expected, regulators hate it and are asking lots of questions about it. Most seem to want to ban it. And now PayPal has dropped out of the original founding team, with Visa and MasterCard rumoured to follow. … The post Facebook has forced the world’s banks to innovate appeared first on Chris Skinner's blog.
Bank Innovation
OCTOBER 7, 2019
The point-of-sale loan is evolving to a digital card that feels like a credit card but isn’t nearly as tough on customers’ budgets. On Monday, point-of-sale lender Affirm rolled out a new app that allows customers to shop at “virtually any store” and split their payments over time. The new app avails customers of the […].
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Payments Dive
OCTOBER 8, 2019
As American Express and Discover plan to implement SRC, there are a few issues to consider regarding how this will impact your business.
South State Correspondent
OCTOBER 8, 2019
Strategic Planning and Innovation If you look at the sensitivity in a bank’s budget, $1 of investment in a new line of business usually doesn’t break even for two to three years. $1 invested in finding a new customer usually returns about 9%, while $1 invested in a new product is usually above 20%. This all compares to about a 40%+ return invested in improving processes (loan, branch, cash management, etc.) and about an 80% plus return spent on reducing customer churn, increasing lifetime value
Advertisement
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
OCTOBER 9, 2019
I recently was invited to be the keynote at some innovation awards in Ireland. It got me thinking about what innovation means in finance, so here are the notes from my speech. I trust it’s useful … Thank you for inviting me here to join you here for the … The post What does “innovation” mean in finance? appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
OCTOBER 10, 2019
Banks are under pressure these days to go digital and create personalized experiences for customers, but many are still trying to figure out what sort of experience to deliver.
PYMNTS
OCTOBER 10, 2019
With real-time payments spreading throughout the world (perhaps more slowly than expected, but still spreading), the characteristics of pull payments mean they are likely to play only a marginal role. That’s the view shared by Trevor LaFleche, director of product management and marketing for Enterprise Payments Solutions at Fiserv , during a recent PYMNTS discussion that centered around the spread of real-time payments, and their global prospects going into 2020.
Chris Skinner
OCTOBER 10, 2019
Bill Gates said in the early 1990s that “we need banking but we don’t need banks anymore”. He was wrong. I hosted a banking seminar in the late 1990s where David Llewellyn, a Professor of Money, stood up and stated that “there will be more change in the next five … The post Innovation? Humbug! appeared first on Chris Skinner's blog.
Bank Innovation
OCTOBER 11, 2019
A company that operates quietly in the background of popular financial apps and platforms is taking steps to become more visible. While large consumer-facing fintech companies like Square, Klarna, Affirm and others tout speed and efficiency of their user experiences, card issuing and processing startup Marqeta‘s technology supports their payment capabilities, with its APIs allowing […].
Advertisement
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
OCTOBER 11, 2019
Tim Tang, director, enterprise solutions at Hughes, sits down with Gil Strickland, vice president, product management at BBVA USA, to talk about customer expectations for online and mobile banking during the Bank Customer Experience Summit in Chicago.
PYMNTS
OCTOBER 7, 2019
The new 5G mobile network technology has started to make its initial foray into healthcare, and at a time when issues of cost, efficiency and accessibility are gaining even more focus than was the case before. As all that happens, potential use cases for 5G in the healthcare space are taking at least rough shape. Various deployments might take years to play out, given the bureaucracy and legacy inertia common in the massive healthcare industry.
Chris Skinner
OCTOBER 7, 2019
I had a few people haul me up over my critique of Nicholas Megaw’s article in the FT last week, including Nicholas himself. I realised post the post that the issue is definitions. In general, the term challenger banks has become accepted to be used in FinTech circles as banks … The post What does the term ‘challenger’ really mean? appeared first on Chris Skinner's blog.
Bank Innovation
OCTOBER 11, 2019
Banks and digital lenders may be throwing their weight behind point-of-sale loans instead of credit cards, but personal loan company Upgrade is launching a product that straddles both product categories. The Upgrade card, launched Thursday, functions like a credit card at checkout, but purchases are turned into payment plans that can last one, two, three […].
Advertisement
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.
South State Correspondent
OCTOBER 9, 2019
Today LIBOR is linked to over $250 Trillion (that is with a “T”) in financial instruments and has been used as a reference rate for more than 30 years. However, regulators, for various reasons, are driving a shift to an alternative reference rate. In 2017, ARRC (Alternative Reference Rate Committee) identified the alternative reference rate in the US as SOFR (Secured Overnight Financing Rate).
PYMNTS
OCTOBER 10, 2019
Bank of America (BoA) may have hired a treasury product manager to work with Ripple. According to Cointelegraph , the bank recently took down a job listing about the position on LinkedIn. “This role leads the product management team for the Ripple Project, a decentralized ledger technology-based solution to cross-border payments marketed to [global transaction services (GTS)] clients,” the job listing read.
Chris Skinner
OCTOBER 6, 2019
The main blog headlines are … Banks are product not customer focused I walked into a grocer’s store the other day. The store was resplendent with fruits of all colours and continents. There were red, yellow and green peppers; carrots, courgettes and cauliflowers; oranges, apples and bananas of both large … The post The Finanser’s Week: 30th September – 6th October 2019 appeared first on Chris Skinner's blog.
Bank Innovation
OCTOBER 10, 2019
Against the rising tide of digital-only banks, Minneapolis-based personal finance platform Branch has taken the plunge. The four-year-old company offers a suite of personal finance tools, including payday advance, to hourly workers through integrations with employer payroll platforms, which currently include Pizza Hut and Taco Bell. Its fee-free checking account is offered in partnership with […].
Advertisement
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.
BankBazaar
OCTOBER 9, 2019
People are losing sleep over their debts! But you don’t need to. Here are a few simple ways to attain freedom from all your financial woes. In this day and age, stressing over the state of one’s finances has become so commonplace, to the point of almost turning into a well-worn conversational cliché. While we may nervously joke about it from time to time, the impact of financial stress on one’s physical and mental health is pretty alarming.
PYMNTS
OCTOBER 9, 2019
Real-time currency exchange and remittance network Ripple has teamed up with Finastra to allow banking customers to access RippleNet , its worldwide blockchain payments network. Ripple said it will provide for more affordable, faster and more reliable payments. Users will be hosted on Ripple’s cloud solution and will be able to use On-Demand Liquidity, which will allow for the leveraging of XRP for cross-border payments. “This partnership will enable Ripple to expand the reach and solution
Chris Skinner
OCTOBER 6, 2019
Things we’re reading today include … ‘I’m being jailed for four emails from 12 years ago’ HSBC to cut up to 10,000 jobs in drive to slash costs: FT Ex-Barclays executives face fraud trial over Qatar rescue Online wealth manager Nutmeg reveals widening losses Libra: PayPal first to drop out … The post Things worth reading: 7th October 2019 appeared first on Chris Skinner's blog.
Payments Source
OCTOBER 10, 2019
Cybercriminals have become extremely adept at crafting emails that are indistinguishable from legitimate emails, says Valimail's Peter Goldstein.
Advertisement
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.
BankBazaar
OCTOBER 8, 2019
Planning to buy a car soon? Before you take the plunge, learn how you can save on your purchase by following these pointers. Tired of haggling with auto rickshaw drivers over fares and shelling out a bomb as surge fees during traffic hours and inclement weather? Buying a car may help you get out of this rut, but you should consider several things before you take the plunge.
PYMNTS
OCTOBER 9, 2019
Real-time currency exchange and remittance network Ripple has teamed up with Finastra to allow banking customers to access RippleNet , its worldwide blockchain payments network. Ripple said it will provide for more affordable, faster and more reliable payments. Users will be hosted on Ripple’s cloud solution and will be able to use On-Demand Liquidity, which will allow for the leveraging of XRP for cross-border payments. “This partnership will enable Ripple to expand the reach and solution
Chris Skinner
OCTOBER 10, 2019
Things we’re reading today include … Data on modern finance reveals uncomfortable truths Indian banks’ share prices are being hammered Hong Kong’s pursuit of the London Stock Exchange ends in tears A group of fintech firms are changing the way consumers borrow The issuer of a star cryptocurrency is being … The post Things worth reading: 11th October 2019 appeared first on Chris Skinner's blog.
Payments Source
OCTOBER 11, 2019
As regulatory pushback against Facebook's Libra cryptocurrency has accelerated, keeping the project together has become a major challenge, with Visa, Mastercard, Visa, eBay and Stripe joining PayPal in leaving the project.
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.
Expert insights. Personalized for you.
395 
Let's personalize your content