Chris Skinner
APRIL 13, 2016
I just had a really interesting, off-the-record, discussion with a banker. Can’t give too much detail therefore, but here’s how the conversation went: “So, what’s it like working for MegaRetailBank?” “Shocking”, he said. “They are completely branch focused. Here’s an illustration. They launched a new retail bank subsidiary in a country in 2008.
Bank Innovation
APRIL 12, 2016
Yet another barrier to business in Iran appears to have fallen. Paymentwall, a San Francisco online payments company, announced today that it has integrated its payment services into the Shetab, which is Iran’s “unified, electronic clearance system for the entire Iranian banking operations that allows it to facilitate transactions from Read More.
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Payments Dive
APRIL 15, 2016
The companies will launch a mobile wallet for banked and unbanked consumers, offering services that range from mobile phone top-up to surcharge-free ATM access.
South State Correspondent
APRIL 11, 2016
No doubt your core principals, values or vision statement looks good on some strategy planning document. The question is – are you living it? To better align your organization with your vision, a banker at the Western Independent Banker conference last week taught us a core lesson that we need to use more often in our bank. That lesson is, constantly ask yourself if your next action helps or hurts fulfill your core values.
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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
APRIL 11, 2016
We had a fascinating chat about digital identities at the Innovate Finance Global Summit (#ifgs2016) today. It was a private roundtable with members of government, central banks, the banking and Fintech community and commentators/observers. Listening to the dialogue going to and fro, I realised that this is one nut that’s too tough to crack.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
APRIL 14, 2016
PayMeTap, which is available for Android in the Google Play Store, lets users accept a payment by tapping a credit card against their smartphone.
South State Correspondent
APRIL 13, 2016
Lenders typically are thrilled when they bring new customers to the bank. However, some of your most profitable customers are already at the bank. Bankers are often surprised that, all else being equal (credit quality, loan and deposit size, etc.), existing relationships are more profitable than new relationships. While part of most lenders’ responsibilities is business development, retaining and enhancing existing accounts is the most important and efficient way to boost your portfolio’s retu
Chris Skinner
APRIL 15, 2016
One of the interviewees in my new book ValueWeb is Ron Suber, President of Prosper Marketplace Lending. Ron gave a speech last week which is summarized below. Well worth a read.
Bank Innovation
APRIL 12, 2016
Austin, Texas-based Malauzai‘s online and mobile platforms will now include personal financial management tools. This means that before you pay that bill with a snap of your smartphone camera, you can check what other bills are coming due this week, and how much this will cut into your planned trip 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
APRIL 13, 2016
Juniper said that the digital commerce market will see strong contributions from three key sectors — digital banking, remote digital goods and remote physical goods.
South State Correspondent
APRIL 13, 2016
“In our bank, a customer can go meet with our CEO.” You said it a thousand times and probably heard it from other banks a thousand more. If this is your core principal around service, then it will be tough to sustain as you will find a planned obsolesces when your growth or complexity gets big enough to prevent that customer-to-CEO interaction. We used to talk about CEO access at CenterState until we got larger.
Chris Skinner
APRIL 14, 2016
I had a lovely conversation with a group of investment bankers last night about technology transformation in capital markets. During the opening, a consistent theme cropped up: standards, interoperability, collaboration and cooperation … or lack of it.
Bank Innovation
APRIL 14, 2016
In the Pirates with Ties interview series, we are interviewing people who are leading digital transformation and innovation in major Financial Institutions. Christoffer O. Hernæs is a VP in strategy and innovation at SpareBank 1, the second largest financial institution in Norway. Daily Fintech Advisers provides strategic consulting to organizations with business and investment interests in Fintech.
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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.
Payments Dive
APRIL 14, 2016
Gerri Kordes, chief business officer at Fortumo, believes the growing mobile population in the region is a good opportunity for operators there to take advantage of the growth.
South State Correspondent
APRIL 11, 2016
At a recent banking conference, we conducted a poll that asked how many banks want to be more innovative. About 85% of the hands shot up. We then asked, “How many bankers have the culture to experiment, an initiative to innovate, time to innovate and a budget?” Almost every hand dropped. And, there it is – The reason why banks don’t innovate isn’t because they don’t want to, but because it has not risen to a level of importance to warrant a formal initiative.
Chris Skinner
APRIL 12, 2016
Those of you who know me, know that I hate the word channel and any adjunct that goes with it. This is because channel shows a lack of digital depth, as it’s just sticking something on top of the old architecture or lipstick on a pig if you prefer. It doesn’t work.
Bank Innovation
APRIL 13, 2016
Alternative title: Solvency 2 on the Blockchain Almost all the early stories about Blockchain adoption were about Banks. Blockchain platforms and solutions providers are now seeing even more interest from Insurance. This research note looks into the reasons why and analyzes the second order impact of this change which will dramatically change Insurance & Reinsurance… Read more Why Blockchain may transform Insurance before Banks #InsurTech.
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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.
Payments Dive
APRIL 12, 2016
Alex Lirtsman, founding partner and chief strategist at Ready Set Rocket, how today's startups are pushing traditional banks to find new ways to stay relevant to the ever-evolving consumer.
PYMNTS
APRIL 15, 2016
Merchants have a lot going on these days. The EMV liability shift just hit the six-month mark , the force of mobile continues to strengthen, and industry players are shape-shifting their business models all while authenticating consumers just keeps getting more complex – and that’s the tip of the iceberg. As Merchant Link CIO Scott Carcillo pointed out during a recent sit down with MPD CEO Karen Webster to discuss what’s happening in the world of merchants and how they’re overcoming the challeng
Chris Skinner
APRIL 11, 2016
Things we’re reading today include … Ten biggest bank scandals have cost £53bn in fines How monitoring behaviour could unmask the fraudsters Exclusive: Bank of Italy conducting supervisory inspection at Bank of China offices Spanish former top banker arrested The history of getting round the taxman Italy sets up bank rescue fund Goldman Sachs to …
Bank Innovation
APRIL 15, 2016
TD Bank announced yesterday that Moven’s real-time money-management tool was live in its mobile app for Canadian customers. This is the first tool of its kind for a Canadian bank. TD MySpend is a companion app to the TD mobile app for both Android and iOS platforms. It leverages Moven’s personal financial management 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.
Payments Dive
APRIL 15, 2016
The actual process of mobile ordering for consumers is simple. But picking up your order at a restaurant can be a little shaky at times.
PYMNTS
APRIL 14, 2016
Bank of America just took a major step toward extending its mobile banking services to a growing base of millennials that are steering away from traditional banking. The bank announced its collaboration with Facebook in which it is developing new capabilities that would allow its customers to stay connected with the bank on Messenger. The announcement comes on the heels of Facebook’s F8 conference, where the tech giant revealed details on its plan to commerce-enable its Messenger app via
Chris Skinner
APRIL 10, 2016
Things we’re reading today include … Russia’s Most Important Bank Needs a Bailout Societe Generale headquarters searched in Panama probe Australia’s big banks wander deeper into regulatory quagmire Swiss banks face scrutiny over Panama Papers Suffering bank investors search for bright spots U.S.
Bank Innovation
APRIL 11, 2016
Last week this space saw much of the largest fintech funding rounds taking place outside the U.S. That trend continues this week, with some San Francisco-grown AI thrown into the mix. This week we witnessed a major push forward in the process of collaboration between financial institutions (FIs) and startups. This Read More.
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