Chris Skinner

JUNE 30, 2016

I was piqued by Victor Matarranz’s [SEVP Head of Group Strategy and Chairman’s Office, Banco Santander] presentation at MoneyConf last week, mainly because he began by talking about Fintech 1.0 versus Fintech 2.0. Fintech 1.0 he defined as the emergence of peer-to-peer lenders and new payments companies between 2010 and 2014. During this time everyone … The post Fintech 1, 2 and 3.0 … there’s an elephant in the room and it’s under attack appeared first on Chris Ski

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Bank Innovation

JUNE 27, 2016

Some of the shine seems to have come off fintech innovation in 2016. Startup valuations are dropping; once abundant venture capital is growing scarcer; marketplace lending has gotten bruised — even the self-proclaimed capital of fintech, London, faces an uncertain future with Brexit. But that doesn’t mean innovation is any less necessary.

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Payments Dive

JUNE 28, 2016

Date: July 21, 2016 | Time: 2:00 PM EDT | Duration: 60 Minutes | Exploring technology solutions to improve customer engagement and enhance their shopping experience? Looking for ways to increase same-store sales and improve associate productivity? Think you can't have it all and still control costs?

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Accenture

JUNE 30, 2016

The big data era is upon us. Financial enterprises are swimming in zettabytes—a billion terabytes—of data. The sheer volume can be overwhelming… unless you know how to use it. For financial services firms, big data can offer a path to. Read more.

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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

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Chris Skinner

JUNE 27, 2016

The UK has had a long weekend considering the consequences of the Brexit. Chris Skinner has had a long weekend considering the consequences on London, the banking industry, Fintech and more … and I have to say that I’m quietly positive. I don’t think we’re going to see the meltdown the doomsayers are rumour mongering, … The post What does #Brexit mean for the City and #FinTech UK?

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Payments Dive

JUNE 30, 2016

The increased opportunities for legitimate sellers, thanks to the many methods of reaching and selling to customers – via apps, text messages, even chat apps – also provide more opportunities for cybercriminals intent on corrupting the system for their own benefit.

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South State Correspondent

JUNE 29, 2016

The other day we met with an investor that was impressed by a next best product algorithm that informs the small business what other products they should be using. The investor commented that this “recommendation engine defies the recommendation engines that are “Amazon-like”” and is one of the best they have seen. They were impressed by how often the recommendations are taken and wanted to know how the calculations were designed and what data the bank was using.

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Chris Skinner

JUNE 28, 2016

Well, I can’t go on and on and on about Britain’s decision to leave the EU, but it would be remiss of me to not highlight a few insights that popped up yesterday. First, there’s probably the best insight I’ve read into why we voted to Leave in The Guardian: “If you’ve got money, you vote … The post The best #Brexit insights including #Fintech, #Blockchain and more appeared first on Chris Skinner's blog.

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Bank Innovation

JULY 1, 2016

That’s right — it’s another bot. This one’s from New Zealand software designer Ben Lynch and is called Jude. Bots are huge everywhere — Facebook Messenger now hosts more than 11,000 — but lately, meaning, this week, they have made a strong push into financial services. Jude launched in May 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

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Payments Dive

JUNE 28, 2016

In the second part of our focus on direct carrier billing, John BaRoss examines how the payment method is being used more to purchase physical goods.

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Payments 218

PYMNTS

JUNE 29, 2016

A lot of millennials are still living at home with their parents, but as more and more of them begin moving out in the coming years, they could have a significant impact on both the housing and rental markets. Many millennials – defined in the study as adults currently between 25 to 34 years old – are still living with their parents due to a series of economic factors, but as they start to age and move out on their own the number of millennial households is expected to swell by about 2 million n

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Chris Skinner

JUNE 30, 2016

Things we’re reading today include … Markets shift after Carney speech Visa, MasterCard $7.25 billion settlement with retailers is thrown out Deutsche Bank hit by IMF hazard warning HSBC will only move jobs out of London in ‘extreme’ Brexit scenario Brexit: Singapore bank UOB suspends London property loans Barclays ‘has no plans to move jobs’ … The post Things worth reading: 1st July 2016 appeared first on Chris Skinner's blog.

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Bank Innovation

JUNE 29, 2016

MasterCard has partnered with Microsoft to integrate its cloud-based payments platform with the tech giant’s cloud-based ERP solution, the companies said this morning. The payment platform, Simplify Commerce, will allow the more than 20,000 Microsoft Dynamics users accept online and call center payments, as well as provide automatic updates on security 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.

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Payments Source

JUNE 28, 2016

Building on industry initiatives to ease the user experience for chip cards and increase use of contactless technology, Oberthur Technologies has developed a dual interface card in the U.S. market that combines new Visa and MasterCard specs and 'tap and go.'.

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PYMNTS

JUNE 27, 2016

In the mood for a little role play today? Your head of product walks into your office with his end of quarter report for one of your flagship services. This service was positioned as a critical feature in driving demand for other products and services in the company’s portfolio. It’s been nearly two years – 20 months to be precise — since it was launched after significant investments in engineering, marketing and promotion.

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Chris Skinner

JUNE 29, 2016

I go to too many conferences and have my very own list of Bingo Buzzwords including apps, APIs, analytics, blockchain, cloud and more. There are four specific words that are used often however, which make my crawl a little. The reason is that I don’t think anyone knows what they mean by them. The four words … The post Conference buzzwords … what’s on your list?

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Bank Innovation

JUNE 27, 2016

If you beleive that people are a growth accelerator, like Macquarie bank does and Janos Barberis describes in his fresh off the press piece on post Brexit consequences on human capital, then pay attention to those involved in Fintech. Fintech recruitment space is not a boring business by any means. It is demanding, it is evolving, and… Read more From P2P to Matchmaking; the Fintech recruitment scene.

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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.

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Gonzobanker

JUNE 30, 2016

An unfortunate turn of debit card events is happening for financial institutions unregulated by the Durbin Amendment (assets under $10 billion, which is most banks and credit unions). And, it’s bringing unwelcome bad news for non-interest income. Many banks and credit unions will see non-interest income deteriorate for the following reasons: Debit EMV issuance/acceptance: the acquirers are striking back.

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PYMNTS

JUNE 29, 2016

Mobile technology, already a fixture in consumers’ daily lives, is having a major impact on the retail industry. Merchants are turning to mobile technology in the form of mPOS platforms in order to better serve and connect with their customers and make sure those customers return. To discuss how mobile, full-service payments solutions are impacting retailers, for this month’s Tracker cover story, PYMNTS caught up with executives from CardFlight, Retail Pro and ShopKeep, as well as with Jordan Mc

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Retail Mobile Payments Software 143

Chris Skinner

JUNE 30, 2016

I know I said I’d stop going on and on about the #Brexit, but there will be a few more sweep up stories. This one is a special for Friday as it’s already begun with Lithuanian MEP sending a letter to the leaders of London-based financial institutions stating the fantastic opportunities they could gain by … The post Vilnius to take over from London after #Brexit?

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Bank Innovation

JUNE 30, 2016

Two thousand credit card payment terminals stand to become infected with malware called Trinity point of sales. Ten million credit cards were stolen by hackers, called Fin6, who may end up scoring $400 million. The cards were stolen from retail and hospitality businesses. If each card sells for $21 on Read More.

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Cards Retail Payments Security 231

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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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Bobsguide

JUNE 29, 2016

Banking is entering a new frontier. Less banking is done in physical branches, as more consumers conduct banking activities online. In fact, a recent consumer survey from NGDATA (disclaimer: my employer) found that only 24% of consumers conduct banking in-person, compared to 38% in 2014. But.

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Strategy Survey Online 102

PYMNTS

JULY 1, 2016

Singapore is on a mission to build up a Smart Nation by utilizing innovation and technology to create opportunities and strengthen communities. The country’s technology ecosystem is setting the foundation for good governance, infrastructure and increased capabilities, which makes it no surprise Singapore has gained attention for its tech initiatives.

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National Training Bitcoin Samsung 133

CFPB Monitor

JULY 1, 2016

Reid F. Herlihy. In an unmistakable warning shot to mortgage servicers, the CFPB recently issued a “Mortgage Servicing Special Edition” of its Supervisory Highlights. The CFPB also updated portions of its Mortgage Servicing Examination Procedures. In the Bureau’s accompanying press release, and throughout the Supervisory Highlights, there is a particular focus on perceived technological failures.

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Bank Innovation

JUNE 28, 2016

Are bots taking over banking? Yesterday, a Danish bank introduced a bot for simple queries (and soon, transactions) and earlier this month, San Francisco-based startup Dyme, a member of the Spring 2016 Bank Innovation INV class, released a prototype of a Facebook messenger bot whose functionality mirrors that of Dyme’s SMS-based Read More.

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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.

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