Sat.Jun 15, 2019 - Fri.Jun 21, 2019

Monzo and Marcus: American challengers or just noise?

Chris Skinner

My mate Ron Shevlin is on good form these days.

A new era of technology enabled financial risk management (Part 1)

Insights on Business

In this series of blogs, we will focus on four transformative technologies with emerging risk applications that can help banks and financial institutions grow profitability and protect the enterprise.

Latin American payments market becomes an emerging target for development

Mobile Payments Today

Latin America has become an increasing focus of development in the emerging digital payments market, as the region transitions from a heavily cash-based system to increase automation, speed and transparency

What The Launch Of Facebook’s Libra Means For Payments

PYMNTS

The endless speculation over Facebook ’s plans to build a new set of global payments rails and launch a global cryptocurrency comes to an end today with the official launch of Libra. Or does it?

Slave to the machine or free for a dignified life?

Chris Skinner

Looking at the world of the future, we all wonder what will happen to work. Will we still have jobs?

Anthemis’ Williams: Fintechs in a race to become customers’ primary financial provider

Bank Innovation

The road to growth for consumer fintech companies is taking a platform-based route, with single-offering companies increasingly taking on a family of additional services to lock in customers.

Chicago restaurant Steak 48 embraces WeChat Pay as Chinese tourists expand mobile platform

Mobile Payments Today

Steak 48, a Chicago-based steakhouse, is embracing mobile wallet applications from China by adding WeChat Pay to the platforms it accepts after previously adding UnionPay

More Trending

So, Facebook launched a currency …

Chris Skinner

I’ve blogged a few times about Facebook planning to launch a currency … Will Facebook become the world’s central bank? If Facebook launch a cryptocurrency, will US government shut it down? … and the fact that most regulators won’t like it.

Why real cross-channel payment data integration matters

Insights on Business

According to the 2019 AFP Payments Fraud & Control Survey , Automatic Clearing House (ACH) payment fraud increased significantly in 2018, reaching a new record with 82% of organizations reported incidents.

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From channel to consumer: humanizing payments

Mobile Payments Today

The payments industry needs to make adjustments based on the needs of their customers, whether related to age, geography or other factors

Mastercard Introduces True Name Card

PYMNTS

To address a major pain point for the LGBTQIA+ community, Mastercard is introducing the True Name card. The product will allow for chosen names to appear on the front of the card, according to news from Mastercard.

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Are legacy companies holding back the future?

Chris Skinner

In my presentations I regularly talk about legacy Europe and America and leapfrog countries from China to India to Kenya to Colombia.

Risk.net names IBM for “Financial Crime Product of the Year” and “Best Vendor for Innovation”

Insights on Business

While there is no prize for stopping financial crime (though, arguably there should be), occasionally there is recognition for being an integral and pioneering part of the overall financial crime management effort.

HSBC to focus on tech in U.S. branch expansion plans

Bank Innovation

HSBC, a top global bank with $2.6 trillion in assets, is making technology a core component of U.S. branch expansion plans. The bank today announced the opening a new location in Cupertino, California, along with 50 planned new branches in the U.S. to be constructed over the next four years.

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POS Payments At The Speed Of Sound (Waves)

PYMNTS

Friction bedevils all types of retail — and that holds true for transactions inside stores or via eCommerce sites. At the same time, the ongoing effort to create true omnichannel experiences for consumers often runs into roadblocks of friction, frustrating merchants and consumers alike.

Fast follower strategies = final failures

Chris Skinner

I was having dinner with a friend the other night, when he asked me: “what do you think about the fast follower strategy?” I said it was stupid and doesn’t work. He then added that the major bank he’s working with are proud that this is their strategy.

Global Consumer Adoption of Alternative and Contactless Payments I Wearables I Contactless I Cashless I Mobile Payments I Trends I Survey

Mobile Payments Today

Download this global infographic to discover the findings of a recent independent survey commissioned by Transaction Network Services into consumer opinions of alternative payment methods like wearables, smartwatches, contactless cards and mobile apps and their willingness to adopt them

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Huddl, a social network for investors, to launch in August

Bank Innovation

Huddl, a digital investment platform headed up by former Blackrock COO Stephen Corliss and former employees of Mastercard, Deloitte and Freddie Mac, is launching in the U.S. in August.

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How FinTechs Tackle Interoperability With New Public Standards

PYMNTS

Sometimes there are two approaches to the same problem in FinTech: EMVCo’s recently released EMV Secure Remote Commerce (SRC) Specification version 1.0

Things worth reading: 21st June 2019

Chris Skinner

Things we’re reading today include … Global financial bodies not fit for purpose, John McDonnell says Lost wallets more likely to be returned if they contain large sum of money, scientists find Why has Facebook coined their new cryptocurrency Libra?

The Status of Commercial Real Estate Values

Banker to Banker

CRE UNDERWRITING Recent data, just released from Real Capital Analytics, shows that since the start of the year (month-end April), commercial real estate (CRE) has appreciated 2.6% in 2019.

Personal finance app Tally raises $50m to grow its platform business

Bank Innovation

Tally, a consumer finance app that consolidates and pays down customers’ debts, raised $50 million this week to add new services.

Russia Joins The Faster Payments Revolution

PYMNTS

The rise of faster payment systems has become a global phenomenon. In the past few years, several global markets have invested resources into developing payment systems and infrastructure that enables funds to be delivered in real-time and that operate on a 24/7 cycle. The U.K., the U.S.,

Things worth reading: 20th June 2019

Chris Skinner

Things we’re reading today include … Libra: Facebook launches cryptocurrency in bid to shake up global finance Donald Trump attacks ECB for ‘currency manipulation’ Challenger bank CYBG looks to Branson brand Lloyds staff happy with chief executive’s £6.3m

Sales compensation accuracy: Questions, questions, questions

Insights on Business

Humans are an inquisitive bunch, salespeople especially so. There is a never-ending list of questions buzzing around a salesperson’s head and never more so than when it comes to the question of compensation. Am I meeting my customer’s needs? How do I get to the CFO?

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U.S. Bank’s Venturo sees 5G as ‘enabler’ for IoT innovation

Bank Innovation

Dominic Venturo, executive vice president and chief innovation officer at U.S. Bank, said 5G cellular network technology can be the catalyst that will bring more internet-of-things (IoT) applications into the banking world. The focus of the innovation group at U.S.

G7 Raises Concerns Over Facebook’s Libra

PYMNTS

Things worth reading: 17th June 2019

Chris Skinner

Things we’re reading today include … Challengers under fire from Bank Bank of England says new lenders could be ill-prepared for downturns Deutsche Bank to set up 50 billion euro bad bank: FT The Bank of England’s biggest problem?

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FSS New Trends in Prepaid Cards

Mobile Payments Today

Prepaid forex cards are a popular payment instrument among frequent international travelers. Learn how you can differentiate your prepaid forex card programs

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Citizens Bank sees digital mortgage tools as a way to expand relationships

Bank Innovation

Citizens Bank is generating one-third of its mortgage applications online, thanks to a suite of tools the company rolled early this year and a partnership with San Francisco-based fintech firm Blend.

Open Banking Can Scale With Incentives And API Aggregation

PYMNTS

Open banking is nothing if not a lot of moving parts and complications. But could merchant incentives help fuel this ongoing effort at digital payments innovation?

Things worth reading: 19th June 2019

Chris Skinner

The future of payments is cloud – and now is the time to embrace it

Accenture

Throughout history, most migrations have taken place in a series of waves and banks’ migration to cloud is no exception. The cloud journey for banking clients started a few years ago in areas such as sales and marketing, with the adoption of platforms like Salesforce and Microsoft Dynamics. The success of these applications then saw the cloud revolution spread to enterprise systems like HR and finance, using solutions such as SuccessFactors and Workday.

How open banking is changing the way ING reaches its customers

Bank Innovation

To Benoît Legrand, chief innovation officer at ING Group, open banking and fintech partnerships are changing the way the bank is meeting customer needs.

Amazon Eyes ‘Surveillance As A Service’ With Drone Patent

PYMNTS

To offer “surveillance as a service,” Amazon earned a U.S. patent for an “unmanned aerial vehicle.” It was granted on June 4 after its filing approximately four years ago on June 12, 2015, Quartz reported. An “unmanned aerial vehicle” is drone’s technical terminology, according to the report.

The Finanser’s Week: 10th June – 16th June 2019

Chris Skinner

The main blog headlines are … Challenger banks don’t matter as they’re not a primary account During Money 2020 Europe, I bumped into a chap from Monzo. No names mentioned, but he was buzzing and no wonder.

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Banks: Digitally decouple the core to compete in an open-access world

Accenture

Guest bloggers Ben Lopez and Charlie Arthy continue their series on achieving simplified, future-ready bank operations. .