Sat.Jun 29, 2019 - Fri.Jul 05, 2019

The end of FinTech

Chris Skinner

I’ve been involved in finance and technology for a long, long time. Originally, I was a technologist; then a financial technologist; and now a FinTech guy. However, I see the FinTech piece as being irrelevant. Whether it’s FinTech or TechFin, it’s all still just finance and technology.

Brexit uncertainty causing some fintechs, challenger banks to put growth plans on hold

Mobile Payments Today

The chaos surrounding the looming Brexit deadline is causing some fintechs and digital banks to take precautionary steps

The 4 Key Clues To Understanding The Future Of Facebook’s Libra

PYMNTS

It’s been a little over two weeks since we all got our first look at Libra and Calibra. No doubt there will be countless news stories to come, and opinions on why it will or will not fly.

Rebeca Romero Rainey: You are the backbone of our nation’s financing

Independent Banker

“When our customers’ needs take center stage, we identify creative solutions to help them achieve their dreams.”.

How can you be AI with DD?

Chris Skinner

No, I don’t mean Attention Deficit Disorder, which would be ADD, but I mean Artificially Intelligent with Dumb Data.

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Canada-based Manulife Bank is betting on conversational AI to hook customers

Bank Innovation

The Canadian banking ecosystem, a walled fortress comprised of a handful of major institutions that own most customer relationships, recently added a new digital-only, mobile participant.

Why Blockchain Holds Promise For Cross-Border Payments

PYMNTS

The rise of the global economy and the demand for swift and secure cross-border payments is driving the development of more efficient infrastructures, and spurring financial institutions (FIs) to experiment with emerging tech.

More Trending

AI in banking: the pitfalls and opportunities (research paper)

Chris Skinner

Building on yesterday’s blog about reports that are useful, I just found another one from UK Finance (formerly the British Bankers Association) on how they see AI in banking, released last week.

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Generation Z is the new battleground for challenger banks

Bank Innovation

A new breed of banking startups wants to lock in customers while they’re in high school and college. As the ecosystem of millennial-focused challenger banks gets crowded, a growing number of startups are focusing on Gen Z customers, or those who were born in the mid-1990s onwards. The objective is to become the customer’s primary […]. Exclusive Retail Banking Startups bank startups challenger bank current Generation Z Kard startups

PayPal And Visa Launch Instant Transfer SMB Tool In Canada

PYMNTS

Payment bottlenecks cause problems for all types of consumers and companies, not the least of which are small and medium-sized businesses (SMBs). But a new offering from PayPal and Visa could help ease those frustrations and hassles.

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What customer complaints can tell you about your experience (and your compliance)

Insights on Business

Until recently, the words “customer experience” and “compliance” didn’t really come up in the same conversation – let alone exist in the same universe.

Mobile first is a no brainer, but what is digital first?

Chris Skinner

An interesting report came out this week saying that UK consumers would access mobile banking apps more often than branches in the next two years. It got covered on the BBC, Sky News and lots of other media, but I was thinking in the next two years?

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The paradox of data: can financial services avoid a Cambridge Analytica?

Bank Innovation

For the financial services industry, Facebook’s new cryptocurrency, Libra, is yet another warning that digital technology is chipping away at the foundation of traditional business models. If bankers were reading the wires on June 18, they might have choked on the Libra news.

Cash Flow Forecasting That Sees The Forest From The Trees

PYMNTS

There’s the forest and there’s the trees — and a lack of ability to see both at the same time can often lead to disaster. The same principal holds true when it comes to forecasting cash flow.

Latest Trends Expose Evolving Data Breach Activity I Security I Malware I Phishing I Ransomware I Trends

Mobile Payments Today

Download this infographic from TNS which looks at the results of a series of recent industry studies which highlight the latest data breach trends. It uncovers the top 5 types of breach incidents, which assets and data criminals are targeting and the number of organizations who have been affected

Trends 139

Fintech foundations lie with both financial and technology people

Chris Skinner

I was talking to a Securitisation conference the other day. Securitisation? What’s that? Well, I could explain but if you don’t know google it and you’ll find it’s one of those areas of financial markets that destroyed economies a decade ago and left us all with a huge debt.

BMO adds personal loan assessment tool to its mobile app

Bank Innovation

The Bank of Montreal has launched a mobile loan application tool for its Canadian customers. Brett Pitts, BMO's chief digital officer, told Bank Innovation the product rollout was a response to customer demand.

Tools 151

Citi On The Art And Science Of Detecting B2B Outlier Payments

PYMNTS

Call them errors made at the speed of commerce. Payments are gaining speed, as is fraud — and sometimes, simple human error is costing companies revenue, precious time or both.

Our 7 Question Test To Prevent Bad Bank Technology

Banker to Banker

BANK TECHNOLOGY DECISIONS The largest problem with bank innovation is that we see or hear about a sexy piece of technology at a conference or at another bank and then acquire it.

Things worth reading: 5th July 2019

Chris Skinner

Things we’re reading today include … In Brexit Britain, battling home lenders chase risk and pensioners Nearly half of global wages received by top 10%, survey finds Osborne thinks he could run the IMF.

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Scenic Advisement’s Leung: Banks aren’t meeting private tech’s needs

Bank Innovation

The growth of capital in play in the private market is changing how private companies, particularly tech startups, find liquidity in the race to go public. Exits of firms like Uber, Lyft and Slack have made 2019 something of a banner year for initial public offerings.

EU Investigates Apple’s GDPR Compliance

PYMNTS

Ireland’s Data Protection Commissioner (DPC) announced that it has launched a third privacy investigation into Apple.

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Big deals altering the payments landscape

ForwardBanker

There’s a decent chance we’ll look back at the first half of 2019 as the period when the US payments landscape changed permanently. The chain of events began in January with Fiserv’s surprise announcement that it was acquiring First Data in a $22 billion merger.

Things worth reading: 3rd July 2019

Chris Skinner

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AI-powered asset manager Pagaya overseeing $650m after latest ABS deal

Bank Innovation

Pagaya, which uses artificial intelligence to manage institutional money, is issuing a second $100 million actively managed asset-backed securities (ABS) offering, the U.S.-Israeli Israeli fintech firm announced today. This follows Pagaya's first $100 million ABS deal fully managed by AI in February.

How FinTechs Team With Banks For RTP Solutions

PYMNTS

FinTech firms are taking on real-time payments for business-to-business (B2B) use cases – and teaming with banking partners to drive innovation.

Kenya launches futures derivatives markets

Bankelele

The Nairobi Securities Exchange (NSE) has gone live with NEXT – futures derivatives trading in a move to enhance risk management and becoming the second exchange in Africa to offer exchange-traded derivatives. The NSE will offer two types of derivatives; equity single stock futures (SSF) starting with shares of five listed firms that met specific […]. The post Kenya launches futures derivatives markets appeared first on Bankelele.

The Finanser’s Week: 24th June – 30th June 2019

Chris Skinner

The main blog headlines are … Platform, marketplace, ecosystem … buzzword bingo! 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.

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Banks navigate UX hurdles in the march to create “super apps”

Bank Innovation

As mobile banking encompasses an ever-increasing number of features, banks are navigating how not to lose the customer in the process.

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Why Contactless Payments Are This Summer’s Big Music Headliner

PYMNTS

Cruise ships and musical festivals are not that different from each other, not these days. Both feature large crowds of generally like-minded people.

What's the future of the ATM industry?

ATM Marketplace

The sixth edition of the ATM Future Trends report, which includes the results of an extensive survey and industry insights from ATM thought leaders, is available

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Things worth reading: 1st July 2019

Chris Skinner

OakNorth expands consumer reach with Moneybox savings partnership

Bank Innovation

British banking startup OakNorth is growing its consumer deposits base through a partnership with robo-adviser Moneybox in an effort to offer a savings account geared at millennials.

CBD And Cannabis Industries Attract Payments And Compliance Players

PYMNTS

When it comes to the new and emerging legal cannabis industry – along with the closely related trade in CBD products – payments and compliance issues, as one can imagine, have tremendous importance, and companies are striving to get into the game via those angles.

Coinsquare partners with Just Cash to allow bitcoin buys at regular ATMs

ATM Marketplace

Coinsquare, a Canadian cryptocurrency exchange, has partnered up with Just Cash to allow consumers to buy bitcoin via regular, non-bank operated ATMs in the U.S.

Is it time to outsource your marketing?

ForwardBanker

In many aspects of business, no matter the industry you’re in, you tend to see cyclical trends. The pendulum swings one way, then it swings back. Take marketing.

Capital One’s commercial cards strategy zeros in on real-time capabilities

Bank Innovation

Capital One is contemplating how it can use data management technology, the cloud, APIs and artificial intelligence to meet the needs of middle-market businesses that increasingly are turning away from paper checks toward digital payments.