Sat.Jun 01, 2019 - Fri.Jun 07, 2019

When did FinTech become cool?

Chris Skinner

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.

Latin America: An ecommerce economy on the rise

Mobile Payments Today

Latin America presents a growing regional economy, however the payments and ecommerce industries present unique challenges

Beware of data “science projects” turned fraud prevention solutions

Insights on Business

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 Because of this, traditional rules-based fraud detection systems have become outdated and no longer work.

Fraud 215

Guaranty Bank uses account-switching tool to promote new branches

Bank Innovation

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.

Tools 205

The war for (banking tech) talent

Chris Skinner

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.

US, China trade dispute may impact mobile payments as luxury sales take hit

Mobile Payments Today

The U.S. trade dispute with China is beginning to impact luxury retail due to a slowdown in spending from Chinese tourists. The trend could impact mobile transactions, as Chinese travelers have a huge preferences for using mobile platforms for shopping and payments

US 211

The Key To Open Banking? More Bank Participation

PYMNTS

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.

More Trending

Card … short for Cardbored

Chris Skinner

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.

Cards 302

Lawyer shares tips on handling gray areas of blockchain regulation

Mobile Payments Today

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

Mastercard Launches Open Banking Platform To Further API Standards

PYMNTS

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.

Course 280

Western Union taps Visa Direct to boost cross-border transfers

Bank Innovation

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.

SMEs are the FinTech’s bees knees

Chris Skinner

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.

Is technology replacing or augmenting the sales role in the digital age?

Insights on Business

Digital technology has no doubt, over the last decade, revolutionized and completely transformed customer behavior as well as redefined how businesses interact with their customers.

MoneyGram Partners With Canada Post For Digital Money Transfers

PYMNTS

MoneyGram and Canada Post have teamed up for a digital money transfer service that allows users to complete transactions at select Canada Post locations all over the country, according to a release. “To

Mastercard to debut one-click checkout for online purchases

Bank Innovation

Taking a page from Amazon Pay, Mastercard is working with tech company EMVCo to create a one-click checkout experience for e-commerce customers.

Online 153

Things worth reading: 6th June 2019

Chris Skinner

260
260

FSS Digital Banking Case study

Mobile Payments Today

Engaging customers over digital channels has become table stakes in financial services, A leading bank in India has deployed Mobile Pay, our Digital Banking Solution, to build an expansive partner ecosystem to engage customers and achieve services differentiation

Why AI Is MIA In Most FI Fraud Departments

PYMNTS

In the old days, forged checks were the biggest problems that bank fraud departments had to manage. Today, financial institutions (FIs) face a barrage of cyberattacks from hackers operating around the world, continuously shifting their tactics.

Fraud 271

Why Chase decided to drop digital-banking app Finn

Bank Innovation

JPMorgan Chase's millennial-friendly digital banking app Finn is shutting down, just one year after it rolled out nationally.

Things worth reading: 7th June 2019

Chris Skinner

Things we’re reading today include … Did Deutsche Bank sweep possible money laundering by Trump under the rug?

Taxes 256

Latest CECL FAQs

Abrigio

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.

Online Retail Pumps New Fuel Into Warehouse Growth

PYMNTS

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).

Retail 271

NYCA’s Sica: challenger banks poised to take market share from incumbents

Bank Innovation

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

The Finanser’s Week: 27th May – 2nd June 2019

Chris Skinner

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.

Maine 253

Strong Deceleration of Job Growth in May

Abrigio

This morning, the Bureau of Labor Statistics released its national employment situation report for May. The report was underwhelming, with just 75,000 jobs created last month – well below the 180,000 jobs expected.

Report 130

Visa Launches b.yond To Fast-Track EU Digital Payments Innovation

PYMNTS

To let businesses quickly deploy digital payment services, a consortium of major companies is rolling out a new financial innovation platform called b.yond.

TAB Bank turns to data analytics firm to improve SME loan process

Bank Innovation

TAB Bank is tapping into the services of a data analytics firm to streamline small business loan application processes and allow for faster decisions.

M&A … Murder & Assassination

Chris Skinner

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.

Why Do So Many Financial Institutions Avoid SBA Lending?

Abrigio

SBA Lending Can Be a Hidden Gem for Some Institutions. Loans guaranteed by the U.S. Small Business Administration represent an underutilized growth engine for financial institutions. With proper planning and the utilization of technology, SBA lending can boost customer acquisitions and deposits.

PayPal Launches eCommerce Platform For Online Merchants

PYMNTS

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.

Online 270

Australian point-of-sale lender Afterpay guns for U.S. market

Bank Innovation

Point-of-sale lender Afterpay reports it has 1.5 million U.S.customers, a milestone it's achieved by embedding itself into the payment platforms of large consumer brands.

US 138

Things worth reading: 5th June 2019

Chris Skinner

221
221

Smart safes: Next-gen retail cash security

ATM Marketplace

The connected smart safe, an internet-enabled lockbox with biometric access and real-time content-monitoring capabilities, ranks among the more compelling IoT items generating great enthusiasm in the retail space — and for good reason

Retail 117

How Connected Cars Are Changing The Game For QSRs

PYMNTS

Cars and quick-service restaurants (QSRs) have been interconnected since drive-ins were the latest innovation. QSRs thrive on speed and convenience, and that once meant catering to customers in cars via drive-thru windows.

Google 266

U.S. Bank branch restructuring is underway with closures in Chicago area

Bank Innovation

Bancorp is closing 21 branches in the Chicago area as part of a restructuring plan to expand its physical footprint in some markets while shrinking its presence in others, bank spokesman Evan Lapiska confirmed.

Things worth reading: 4th June 2019

Chris Skinner

Things we’re reading today include … Pensions must do right thing on climate change, says minister Alphabet shares slide 6% on possible DoJ antitrust probe A crypto Buffett lunch is on the cards. Poor Warren Buffett.

11 Lessons From Startup Chapter 11s

CB Insights

Although many entrepreneurs are keenly aware that the odds are stacked against them, few founders expect to find themselves explaining their actions in bankruptcy court — yet that’s the precise situation the founders of these 11 companies found themselves in when their ventures failed.