Chris Skinner
MAY 17, 2016
There is a lot of talk about blockchain. A lot. Loads. But when you get past all the talk, what is actually happening with blockchain? Answer: not enough. I say this because there are some stand out firms out there – like R3, Digital Asset Holdings, Ripple – who have gained traction with the banks, … The post For all the talk about blockchain, what is really happening?
Bank Innovation
MAY 20, 2016
It looks like an R3CEV-Ripple partnership is in the works. This development could be a sign of the bundling of distributed ledgers and alliances between companies and consortiums in the space. The news was teased on Twitter today by Ripple CEO Chris Larsen: The future of fintech is bringing together like-minded companies, Read More.
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Payments Dive
MAY 20, 2016
A panel discussion at the ShopTalk conference in Las Vegas focused on the issues merchants face today as it relates to the mobile customer experience.
South State Correspondent
MAY 19, 2016
Earlier this week ( HERE ), we laid the foundation and highlighted the finer skills needed to be an expert in deposit pricing. We talked about how banks destroy value by indexing deposit rates, how banks need to look forward when setting rates and that how understanding depositor behavior is usually the missing piece of deposit pricing.
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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
MAY 20, 2016
I just received a white paper about Social KYC from Fintech startup Veridu. The idea is to use our social media profiles to authenticate and onboard as a new 21st century KYC process. It’s an interesting idea I thought I’d share here but, before I do, I posted a note on the blog in 2009 that … The post Social KYC: far easier than passports and utility bills 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.
Payments Dive
MAY 19, 2016
On the same day that U.K.-based Bango made its acquisition for $3.5 million, Las Vegas-based Axiologix Inc. announced that it had entered into a joint venture with SLA Mobile, a direct carrier biller with headquarters in Malaysia and the U.K. The next day, Austria's Dimoco purchased Italy-based Onebip for an undisclosed amount.
South State Correspondent
MAY 18, 2016
Either buried deep in a proposal letter, or attached to the back, lenders will present one of the most important aspects of the commercial term loan – the structure and pricing of the loan. Many lenders will have their preferred format and presentation style, and certain banks will have a uniform template for lenders to use, however, for the most part we see ad hoc and confusing quote sheets without the elements that we feel are important in providing superior customer service or the compelling
Chris Skinner
MAY 18, 2016
I’m often asked whether banks should be afraid of the threat of Fintech. My answer is that most Fintech is enhancing what banks do, rather than threatening their core business. I sum this up as wrappers, replacers and reformers, and that the only Fintech firms we should really fear are those that replace core bank … The post Fintech vs Banks is like the Mouse vs the Elephant appeared first on Chris Skinner's blog.
Bank Innovation
MAY 20, 2016
Take that, Apple. Samsung Pay may not be available in the United Kingdom yet, but it’s rapidly expanding its reach in China in a March deal with UnionPay, the world’s largest credit card network, and now through a new deal with Alipay. The Seoul-based electronics company announced the deal today. Alipay’s 450 Read More.
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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
Payments Dive
MAY 17, 2016
Almost four years after its formation, MCX has little to show for its efforts outside a pilot in one Midwest city.
South State Correspondent
MAY 16, 2016
In order to serve their customers and perform their duties, commercial lenders should be familiar with the nature and application of letters of credit. A letter of credit substitutes one credit (for example the borrower) with another credit (typically a financial institution). The use of letters of credit to reduce risk is very popular in international trade.
Chris Skinner
MAY 16, 2016
I promise to shut up about African developments after this post, for a while anyway, but there’s a definite feeling that Africa may set the standards for a cheaper, easier financial system in the future, as blogged last week. In fact, when I was asked about Africa as a continent in Kenya, I said that … The post The future of Africa appeared first on Chris Skinner's blog.
Bank Innovation
MAY 18, 2016
Your morning runs are about to get way more “connected.” Fitbit, a popular provider of wearable technology, announced today that it has acquired mobile payment technology from Silicon Valley startup Coin. Terms were not disclosed. The company said: The deal includes key personnel and intellectual property specific to Coin’s wearables Read More.
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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
MAY 18, 2016
Like many developing areas, Latin America holds promise for payments companies and the burgeoning movement to digital transactions in lieu of coins and paper bills. In an interview with PYMNTS, Alexander Sjogren, YellowPepper’s CTO, stated that his firm has evolved beyond its initial underpinnings in the mobile banking services segment focusing on underbanked and underserved populations.
South State Correspondent
MAY 17, 2016
You can always tell a good banker by the way they handle their deposits. When it comes to loans, it’s hard to discern expert level skills unless you know the market and know the credit. Deposits, however, are pure. When we analyze a bank, it is normally the first thing we look for as deposit pricing and structure is the one metric that tells you the most about the quality of a bank.
Bobsguide
MAY 18, 2016
Over 65% of British businesses have been pinpointed by hackers in the past year, and the cyber security industry is undergoing extensive change as officials are feeling increasingly threatened by the rapid rate and scale of attacks. We take a look at the best cybersecurity fintechs out there and how.
Bank Innovation
MAY 19, 2016
Stellar, a non-profit organization dedicated to building financial products for underserved customers across the globe, is focusing its innovation efforts in 2016 on Africa’s largest economy, Nigeria. Stellar characterizes the venture as “sustaining anchor partnerships” in Nigeria and giving away lumens — the currency on Stellar’s network.
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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
MAY 20, 2016
“Siri, help me find the nearest Starbucks.”. “Hey Cortana, play some yacht rock.”. “Alexa, pay cable bill.”. This month’s Digital Banking Tracker™ cover story features an interview with Ed Metzger, Santander UK’s Head of Innovation about their early feedback from incorporating a voice assistant into their student-focused SmartBank app – and what’s next for voice technology in banking.
Payments Source
MAY 15, 2016
Transaction laundering is an increasingly popular scam, in which cyber-criminals hijack the legitimate payment process to sell all manner of illicit goods and services online.
Bobsguide
MAY 16, 2016
In financial services, access to big data and analytics is creating a huge opportunity to improve everything from efficiency, accuracy and speed to fraud prevention.
Bank Innovation
MAY 18, 2016
Acorns is bettingthat millennials will prefer “cash forward” to the old-school “cash back” rewards on their purchases. Earlier this week, the micro-investing app launched Found Money, a program that allows brands to “invest in their customers’ future” and automatically invest the cash-back rewards into customers’ Acorns accounts. With this move, Acorns Read More.
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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
MAY 19, 2016
Let’s check in with who’s on the AI (artificial intelligence) train. Apple kicked things off this year, announcing back in January that it had purchased Emotient, an AI tech startup in the facial recognition business. Did Apple say why it bought that company? Of course, it did not ; mind your own business. Jump ahead to spring, and the next big company in the retail space (specifically, the biggest company in eCommerce) to make an AI-related move this year was Amazon.
Payments Source
MAY 19, 2016
While the benefits of coupon 'extreme stacking' are traditionally geared to consumers, it can also help retailers understand consumer behavior and better plan their marketing initiatives.
Bobsguide
MAY 17, 2016
In the last five years, 10% of all global fintech investment has flowed into the UK to the sizeable tune of £5.4bn. While the US might command the most, some £31.6bn, the UK is holding its own against China, $3.5bn, and Europe, $£4.4bn. It’s a reflection of many things.
Bank Innovation
MAY 19, 2016
It has been an interesting news cycle in Fintech. First we had Lending Marketplace Meltdown Week. The takeaway: “all this new fangled stuff is messed up and its time to go back to the tried and the true” Then we had the news that SWIFT, the venerable cross border payment system got hacked again, for… Read more The SWIFT hacks may accelerate the transition to Blockchain based cross border payments.
Advertiser: Data Robot
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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