Chris Skinner
JUNE 3, 2019
When did FinTech become FinTech? When did technology in finance become cool? I guess the first thing is to define FinTech, which I did badly four years ago. I say badly because my definition back then was: FinTech [is] a new market that integrates finance and technology. This new market … The post When did FinTech become cool? appeared first on Chris Skinner's blog.
Payments Dive
JUNE 4, 2019
Even with FinCEN's new guidelines on cryptocurrency, there are still many gray areas. Robert A. Misiala Jr., counsel at BakerHostetler provides some clarity in a Q&A.
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Bank Innovation
JUNE 6, 2019
Guaranty Bank and Trust is using new technology to make it easier for potential new customers to switch bank accounts as it expands its branch network. The Mount Pleasant, Texas-based bank has added eight new locations over the past year in locations like Fort Worth and Dallas. The digital tool, called ClickSwitch, helps Guaranty encourage […].
South State Correspondent
JUNE 4, 2019
THE DIGITAL CUSTOMER EXPERIENCE While online account opening and digital lending are great, there is one function that is the most in demand by bank customers, yet most banks don’t think to provide any digital functionality around it. It is the one function that drives up the most cost for a bank and is the most significant reason why bank customers still say they want a branch.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Chris Skinner
JUNE 4, 2019
I had an interesting discussion about hiring technology people into banks the other day. The challenge of finding top coders is a big one, as there’s an awful lot of other firms to join out there. You could join a hot FinTech unicorn like Monzo, SoFi, Stripe, Ant Financial, Ping … The post The war for (banking tech) talent 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.
Bank Innovation
JUNE 5, 2019
A fintech incubator called Silicon Fintech Bay is launching in Redwood City, California. CEO Rick Frisbie declined to say what areas the incubator will focus on, but he told Bank Innovation that selected companies will get to work with the program’s partners on problems they’ve identified. “We don’t want to go willy nilly and find […].
Abrigo
JUNE 4, 2019
The Financial Accounting Standards Board’s new current expected credit loss (CECL) standard, known as one of the biggest changes to bank accounting. Because of the complexities and changes that CECL brings, there are many questions surrounding implementation, potential effects, and more. The Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (O
Chris Skinner
JUNE 5, 2019
I’ve been finding it increasingly frustrating on my travels, thanks to one of my credit card companies. My travelling depends on two credit cards: a bank issued corporate MasterCard and American Express. The reason I carry these two is that the MasterCard works across Europe, where quite a few countries … The post Card … short for Cardbored appeared first on Chris Skinner's blog.
Payments Dive
JUNE 6, 2019
Latin America presents a growing regional economy, however the payments and ecommerce industries present unique challenges.
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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 5, 2019
Global money transfer firm Western Union will implement Visa’s real-time push payments platform, Visa Direct, in an effort to speed up and bring transparency to cross-border, cross-currency money transfers, the companies announced today. Western Union, which completed more than 800 million transactions for consumer and business clients in 2018, said it can offer customers an […].
PYMNTS
JUNE 3, 2019
PayPal announced on Monday (June 3) the launch of the PayPal Commerce Platform, which is designed to meet the needs of marketplaces, eCommerce solution providers and crowdfunding platforms. In a blog post , Bill Ready, PayPal’s chief operating officer, said the new digital platform will provide what the company is calling the most comprehensive set of technology, tools, services and financing for businesses of all sizes around the world.
Chris Skinner
JUNE 6, 2019
I write a lot about FinTech payments, lending, roboadvice and such like. But there’s been a strong bubbling trend underneath all this that has not gone unnoticed. I’ve just not blogged about it enough. SMALL BUSINESS FINANCE People talk a lot about finance for SMEs – small to medium enterprises … The post SMEs are the FinTech’s bees knees appeared first on Chris Skinner's blog.
Payments Source
JUNE 3, 2019
Open banking or connections to payment apps and fintechs helps financial institutions meet these customer needs in a number of ways that can help them build that customer relationship, writes Maria Allen, global head of financial services for Unisys.
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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
Bank Innovation
JUNE 7, 2019
Taking a page from Amazon Pay, Mastercard is working with tech company EMVCo to create a one-click checkout experience for e-commerce customers. The payments giant said the new secure remote commerce specification will replace key-entry guest checkouts with a more secure, password-free option for Mastercard’s U.S. cardholders, regardless of which device or card they use. […].
PYMNTS
JUNE 6, 2019
It’s not just technology that moves the world. Culture plays a huge role — as well as the sparks that often come from the tension when cultures clash. That promises to be the case going forward with Open Banking, as financial institutions (FIs) pick partners and proof of concepts. Open Banking is a global effort that resets the relationships FIs have with FinTech firms, payment providers and financial service providers.
Chris Skinner
JUNE 5, 2019
Things we’re reading today include … Next Bank of England governor must serve the whole of society Standard Chartered shows it’s a bank of action against illegal poaching ‘Bad bank’ repays £50bn bailout loan ‘Bad bank’ repays £50bn bailout loan The green bank for kids – set up by a … The post Things worth reading: 6th June 2019 appeared first on Chris Skinner's blog.
Insights on Business
JUNE 3, 2019
As e-commerce has revolutionized the way we buy and sell online, we are no longer bounded by borders or time zones. Goods can be purchased from anywhere around the world at any time of day. Because of this, traditional rules-based fraud detection systems have become outdated and no longer work. Today, real-time payments require real-time fraud detection.
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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.
Bank Innovation
JUNE 6, 2019
JPMorgan Chase's millennial-friendly digital banking app Finn is shutting down, just one year after it rolled out nationally. In an email to customers, the bank stated that Finn customers will see their accounts automatically moved to Chase Secure Checking and Chase Savings accounts on August 10, when the app will be permanently shut down. The […].
PYMNTS
JUNE 4, 2019
Lead, follow or get out of the way — that seems to apply to the rise of Open Banking, which promises more financial services innovation, along with greater financial transparency and flexibility. While nothing is inevitable, and even the best plans are always in danger of stalling out or being derailed, the energy behind Open Banking is gaining steam.
Chris Skinner
JUNE 1, 2019
The main blog headlines are … Earth’s future is all down to the banks I’ve been struggling for a while now. My struggle is that I love flying around the world, seeing new places, meeting new people, finding new things … but I hate polluting the planet. This was brought … The post The Finanser’s Week: 27th May – 2nd June 2019 appeared first on Chris Skinner's blog.
Bobsguide
JUNE 6, 2019
Regulatory intervention will spell the doom of static passwords and poor authentication, and death kneel will sound from the UK, according to Philipp Pointer. Speaking on the sidelines at Money 20/20 in Amsterdam this week, Pointer said the only reason outdated security methods exist is because.
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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.
Bank Innovation
JUNE 7, 2019
As fintech moves beyond digitizing legacy systems to a focus on intuitive, customer-driven experiences, the field of startups competing for market share is getting crowded. According to CB Insights, venture-backed fintech companies raised $6.3 billion across 445 deals globally in the first three months of this year. NYCA Partners, based in New York and San […].
PYMNTS
JUNE 3, 2019
The rise of eCommerce has done much more than change the way consumers shop (which, in turn, has helped to change the way consumers think about payments). Online retail has had a tremendous impact on logistics, further evidence of which emerged on Monday (June 3). Blackstone Group reportedly is paying $18.7 billion for what Bloomberg calls “179 million square feet of urban logistics properties – the warehouses used by Amazon.com Inc. and other retailers to fulfill orders from online shoppers.
Chris Skinner
JUNE 2, 2019
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 squeezed into the Empire, and it literally was like something from … The post M&A … Murder & Assassination appeared first on Chris Skinner's blog.
Bobsguide
JUNE 4, 2019
Banks and financial services firms are harming the industry by attempting to go on a “startup safari” and invest directly in innovative fintech companies to get a competitive advantage, according to Starling Bank CEO and founder, Anne Boden. Speaking on a panel at Money 20/20 in.
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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.
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