Chris Skinner
JUNE 12, 2019
I just went through a conversation about my presentation for a forthcoming conference. They didn’t want to provide a prescriptive approach, and just asked what I talked about in general. That’s a challenge, as I once turned up at a conference and they said to me “you have seven hours”. … The post The logic of digital change appeared first on Chris Skinner's blog.
Payments Dive
JUNE 14, 2019
The new EMV Secure Remote Commerce specifications may provide a solution to a longstanding problem with ecommerce checkout creating friction for consumers and being vulnerable to fraud.
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South State Correspondent
JUNE 10, 2019
BANK MARKETING If you are still spending money on print and direct mail, we ask you why? Not only is it hard to track, but it is likely the least effective form of marketing that you can do. While building a brand is good, generating an emotional connection is better. Banks that do a great job at marketing such as Umpqua, Citizens Bank of Edmonds, Bank of Ann Arbor, and many others know that it is all about gaining some level of engagement.
Bank Innovation
JUNE 13, 2019
The peer-to-peer payments race is now more than a duel between bank-backed Zelle and Paypal-owned Venmo. According to a report released Thursday from Nomura Instinet analyst Dan Dolev, Cash app downloads grew by 2.2 million in May, up from 2 million in April. Meanwhile, Nomura reported that new downloads of Venmo were up 1.7 million […].
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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
JUNE 10, 2019
During Money 2020 Europe, I bumped into a chap from Monzo. No names mentioned, but he was buzzing and no wonder. The start-up has just boomed through two million users and is growing at over 60,000 account openings a week or 10,000 per day. Some think that number seems high, … The post Challenger banks don’t matter as they’re not a primary account 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.
South State Correspondent
JUNE 10, 2019
A common line of thinking in the banking industry, especially regulators, is that recessions are driven by, or at least exacerbated by, the supply of credit. Banks, in an effort to stay competitive, tend to drop their lending standards to hit their loan growth targets. In doing so, these banks take on more and more risk. This occurs until the credit cycle turns, and then banks run into credit problems.
Bank Innovation
JUNE 14, 2019
Fintech executives sounded off on blockchain at CB Insights’ Future of Fintech conference this week. According to Henrique Dubugras, CEO and co-founder of Brex, blockchain is overhyped but cryptocurrencies are underrated. The corporate credit card startup is fresh off a $100 million funding round that has landed it a $2.6 billion valuation just one year […].
Chris Skinner
JUNE 9, 2019
I recently started to worry that people might think I have some sort of arrangement with Ant Financial to publicly endorse them, as I’m such a fan-boy. I talk about what Alibaba, Ant Financial and Alipay is doing in every presentation, blog about them a lot and am thoroughly enraptured … The post Alipay partners with six mobile wallets for Europeans appeared first on Chris Skinner's blog.
Payments Dive
JUNE 14, 2019
Companies around the world work with partners to build, launch, and manage complete platforms, customizing systems to meet evolving market demands. executing on revenue goals — to build their businesses. But it’s more than just a business. Read our end-user stories to explore the impact of enabling digital commerce in a variety of communities.
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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
South State Correspondent
JUNE 12, 2019
IMPROVING BANK PRODUCT SALES A surge in alternative lenders and intense competition among banks has forced community bank lenders to further differentiate themselves and their institution. Many lenders are switching their professional focus from being a salesperson to being a trusted advisor. Recent teaching from St.
Bank Innovation
JUNE 10, 2019
Silicon Valley-based KeyPoint Credit Union is seeing a lift in user numbers resulting from targeted push notifications. The push notifications target members who haven’t used the app in three weeks, alerting them to the app’s features. They remind members they can send peer-to-peer payments, deposit checks and verify their balances through the app. The notifications feature […].
Chris Skinner
JUNE 11, 2019
I’m a technology lover. Always have been, always will be. To me, technology is like magic. “Any sufficiently advanced technology is indistinguishable from magic.” Arthur C. Clarke Too damn right Arthur. I love technology. But then I got to thinking about what technology is doing to us. To me and … The post We are the robots appeared first on Chris Skinner's blog.
Payments Dive
JUNE 13, 2019
As companies use technology to manage their accounts receivables and payables, they need to take a hard look at several factors regarding the solutions they choose to employ.
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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.
PYMNTS
JUNE 13, 2019
Cybersecurity is one of the main tasks in the world of digital commerce and payments, and it’s a task that is getting more attention from consumers, companies, regulators and others. But there’s a big problem in this realm — a shortage of cybersecurity experts, the people with the training and expertise to defend retail and payments from increasingly sophisticated online criminals.
Bank Innovation
JUNE 10, 2019
As upstart digital-only banks face increasing pressure to acquire and retain customers, a 20-year-old online-only bank has managed to hold on to most of its original customer base. David Becker, CEO of Fishers, Indiana-based First Internet Bank, told Bank Innovation that it has kept 90% of its original customer base as a result of its niche […].
Chris Skinner
JUNE 13, 2019
I annoy a lot of people. I don’t mean to. But anyone with a description of ‘troublemaker’ is going to annoy someone. What’s interesting is the different reactions I get from start-ups, technology firms, banks and internet giants. In general, the ones who seem to get most irritated by me … The post A bank CEO should be better appeared first on Chris Skinner's blog.
Payments Dive
JUNE 13, 2019
Retailers are increasingly incorporating Internet-of-Things devices into store operations, but delivering on the value proposition requires dependable connectivity.
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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.
PYMNTS
JUNE 10, 2019
Uber is expanding its services and moving toward providing financial products, according to a report by CNBC. The company has reportedly been hiring numerous product managers and engineers. Its new FinTech team could ultimately have more than 100 workers. Uber is taking advantage of New York’s talent pool in the financial department, which has more depth in the San Francisco sector.
Bank Innovation
JUNE 14, 2019
Sally Krawcheck, co-founder and CEO of digital investment advisory company Ellevest, has built an investment product geared at a market she said many digital wealth platforms aren’t effectively reaching: women. Krawcheck, who launched Ellevest in 2016, told an audience at a fintech event in New York this week that the market has room for many […].
Chris Skinner
JUNE 11, 2019
Things we’re reading today include … Singapore’s Ride-Hailing App Grab Mulls Becoming a Bank JP Morgan’s 180 On Its Stand-Alone Digital Bank Underscores The Adoption Challenges Facing Crypto Banks Are Second, Or Third, Choice For IT Grads, So They Have To Work Harder The heavy cost of policing financial services … The post Things worth reading: 12th June 2019 appeared first on Chris Skinner's blog.
Payments Dive
JUNE 13, 2019
The deadline has been extended to submit award entries for the annual BCX Summit for banks and fintechs in several important categories.
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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.
PYMNTS
JUNE 11, 2019
Thailand’s Siam Commercial Bank won’t be using Ripple’s XRP technology despite earlier announcements of such plans. According to reports in BlockTribune on Monday (June 10), Siam Commercial Bank (SCB) retracted a previous statement that it was planning to integrate use of Ripple’s XRP token to power cross-border B2B payments.
Bank Innovation
JUNE 13, 2019
British challenger bank Monzo today announced the initial roll-out of its financial app and connected Mastercard debit card in the U.S. market. Monzo does not currently have a U.S. banking charter, but it initially will operate with a yet-to-be-announced partner bank. Tom Blomfield, CEO and co-founder of Monzo, told Bank Innovation that his company's work with […].
Chris Skinner
JUNE 8, 2019
The main blog headlines are … M&A … Murder & Assassination I was having a breakfast meeting with a banking friend who had recently been through a tortuous experience. His start-up had been acquired by a major traditional bank, and it ended with blood on the floor. The start-up got … The post The Finanser’s Week: 3rd June – 9th June 2019 appeared first on Chris Skinner's blog.
Payments Dive
JUNE 13, 2019
Only one day remains to submit award entries for the annual BCX Summit for banks and fintechs in several important categories.
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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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