Bank Innovation
JUNE 23, 2016
1. Lucy Peng, CEO, Ant Financial Ant’s latest fundraising round – the largest ever anywhere – of $4.5 billion, and its overall valuation of more than $60 billion, have turned the Alibaba spinoff into one of the most valuable private tech companies in the world. Launched in 2014, Ant Financial Read More.
Chris Skinner
JUNE 21, 2016
I’ve written about Bitcoin and blockchain for half a decade, and now banks are all talking about it too. There is a belief that the blockchain technology that came from the Bitcoin structure could revolutionise banking. But there’s a problem, not with blockchain protocol, but with the hype and confusion that surrounds it. How will banks … The post 50 shades of blockchain … appeared first on Chris Skinner's blog.
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Payments Dive
JUNE 23, 2016
John Shapiro, the director of product management for payments for Intuit, discusses how the proliferation of technology and emergence of connected devices have created an opportunity for companies not previously associated with payments to expand their product offering.
PYMNTS
JUNE 23, 2016
Fraudsters always seem to be one step ahead of both the consumers and businesses they target. They have the uncanny ability to slip in unnoticed, wreak havoc and essentially walk away unscathed (and paid). Though victims of fraud attacks may never be able to beat cybercriminals at their own game, it’s clear that knowledge is power. As Don Bush, VP of Marketing at Kount , recently told Karen Webster , knowing what’s coming can better prepare you to defend yourself. “If you don’t know
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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 23, 2016
41. Brad Bennett, Senior Manager, Enterprise Services Engineering and Strategy, BB&T BB&T, a banking innovator? Yes, BB&T deserves mention with top innovation banks, and largely for one reason: Bradley Bennett. Bennett has been the executive at the bank that has most influence its wholesale bearhug of banking innovation. BB&T is now involved with Read More.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JUNE 24, 2016
John BaRoss, who has a long history in the e-commerce industry, discusses how this often overlooked payment method is still a hot commodity for telcos worldwide.
PYMNTS
JUNE 22, 2016
The state of cash in Western Europe is at a crossroads with the rapid development of mobile technology. While several European countries show positive growth in cash usage, there are some that are on track to become cash-free. The PYMNTS.com Global Cash Index™, powered by Cardtronics, uncovers the changing dynamics of the state of cash in Western Europe and the projected effect of the impending Brexit vote on cash usage.
Bank Innovation
JUNE 20, 2016
Banks spend a great deal of time, money, and energy building technology to compete with fintech companies, but the CEO of innovation software maker Spigit has a message: Don’t bother. Why is that? “You’re too late,” Spigit CEO Scott Raskin told Bank Innovation, referring to the banks.”By the time these companies reach Read More.
Chris Skinner
JUNE 21, 2016
I just discovered a really interesting legal view of the implications of the Brexit vote on the UK Financial Services sector. It was in a magazine by Mayer Brown, a law firm, written by legal eagles Alexandria Carr, Mark Compton, David R. Sahr and Guy Wilkes and, as the vote takes place tomorrow as to whether Britain will Brexit … The post What would Brexit mean for the UK financial services industry?
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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
JUNE 21, 2016
It's no surprise the ride-sharing service comes up a lot during discussions about personalization and customer interaction. That was a topic of conversation during multiple panels at two trade conferences in May.
PYMNTS
JUNE 21, 2016
The movement by small and midsized businesses to fully accept and work with electronic payments has been a gradual one, and one that has been marked by concerns surrounding costs. Firms have tread cautiously with respect to electronic payments, with costs dominating the argument against transitioning. After all, it does take time and money to bring accounting systems up to speed and to enable platforms to deal with processing fees tied to transactions.
Bank Innovation
JUNE 24, 2016
In a stunning vote, British citizens decided to leave the European Union, and the so-called Brexit has not just profound implications for fintech, but creates massive uncertainty for global financial services. “How can we be so stupid?” tweeted Eileen Burbidge, a partner at Passion Capital and FinTech Envoy of HM Read More.
Chris Skinner
JUNE 23, 2016
I had an interesting conversation with one banker this week. They work for a bank that is interested in blockchain use cases (aren’t we all) and have been tasked to create a proof of concept. All well and good. Then the challenge kicked in. Who wants to work on the proof of concept? The team … The post Banks need to change their bonus structures (to include technological leadership) appeared first on Chris Skinner's blog.
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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.
Finer Points
JUNE 22, 2016
It took years of hard work, but community bankers once again showed they can make a positive impact on new regulations through engaged grassroots advocacy. The latest industry success came with the release of the Financial Accounting Standards Board’s final updated standard on credit losses. This Current Expected Credit Loss standard is by no means […].
PYMNTS
JUNE 20, 2016
At the start of the year, I wrote a piece that outlined six trends that I suggested would set the agenda for payments innovation and commerce reinvention in 2016. The foundation for those six trends was the ability for innovators to leverage the near ubiquity of mobile devices and the ability to connect those devices – and many others – to the internet.
Bank Innovation
JUNE 21, 2016
As part of a broader digital-first strategy, Radius Bank partnered with Gradifi, a Boston-based startup, to launch a new MasterCard debit card that will help members reduce student loans. The new debit card will be available in the fall, the company said this morning. Here’s how it works: costumers will Read More.
Chris Skinner
JUNE 19, 2016
This week’s news was a summary of the White House Fintech Summit that took place in Washington on June 10. America’s banking regulations strangle innovations I was asked the question the other day as to why there is no new digital bank start-up in the USA … America’s regulations are not the problem I received … The post The Finanser’s Week: 13th June – 19th June 2016 appeared first on Chris Skinner's blog.
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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.
Insights on Business
JUNE 21, 2016
“It feels like we are at a tipping point where the entire industry is teetering on the edge of a cliff and it is about to give way ,” says Tom Blomfield, CEO of Mondo. “ We have seen it with other industries: Blockbuster when Netflix came in or Kodak when digital took over from film, or Spotify with music. A lot of print journalism went the same way as well.
PYMNTS
JUNE 23, 2016
American Express has announced changes to its EMV chargeback policy in order to ease the transition as merchants migrate their POS systems to be EMV-compliant. This move is aimed at helping merchants limit their fraud losses, and as of the end of August of this year, merchants will not be liable for counterfeit fraud chargebacks for any transaction under $25.
Bank Innovation
JUNE 22, 2016
Real-time international payments are not far over the horizon anymore. San Francisco-based Ripple announced that seven global banks have joined its network to improve their cross-border payments experience. Among the banks are Santander, UniCredit, UBS, ReiseBank, CIBC, National Bank of Abu Dhabi (NBAD), and ATB Financial. All of the banks tested transferring money Read More.
Payments Source
JUNE 23, 2016
A group of the largest banks in the world is working on a global standard for Bitcoin’s blockchain ledger technology, a secure funds-transfer system that advocates and industry watchers have likened to “email for money.
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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.
Insights on Business
JUNE 21, 2016
Using DevOps in the age of digital disruption: “It feels like we are at a tipping point where the entire industry is teetering on the edge of a cliff and it is about to give way ,” says Tom Blomfield, CEO of Mondo. “ We have seen it with other industries: Blockbuster when Netflix came in or Kodak when digital took over from film, or Spotify with music.
PYMNTS
JUNE 20, 2016
It’s been a tough road on the way to EMV terminal deployment here in the U.S. The move has been complicated by the combination of most merchants getting a very late start to the EMV process – the Target breach was what many merchants considered their official starting line despite announcements by the card networks years earlier – and a complicated certification process that’s been tough for some merchants to navigate.
Bank Innovation
JUNE 23, 2016
26. Jill Castilla, CEO, Citizens Bank of Edmond Chances are you’ve seen Jill Castilla on Twitter. (Or YouTube. Or at a banking conference.) CEO of a $250-million community bank in suburban Oklahoma City, Castilla is something of a sensation in the banking community, and with good reason. Following her bank’s near-death Read More.
Bobsguide
JUNE 19, 2016
England’s central bank has launched an accelerator with the aim of harnessing fintech innovation in order to solve problems that the institution faces. After applications have been reviewed and assessments have been completed, the Bank of England will act as a reference clients for other firms.
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