Chris Skinner
MAY 11, 2016
One of the gating factors to financial inclusion is the mobile network itself. It sounds simple to say that all of Africa can have access to mobile money, and they can, but if each telco has different wallet structures, charges and fees, then the ease of usage falls sharply. This is why interoperability is a … The post The challenges of mobile financial inclusion appeared first on Chris Skinner's blog.
Bank Innovation
MAY 11, 2016
SAN JOSE, Calif. — Thirty-nine companies demoed their products to the crowd at Finovate Spring today. Not all were startups (IBM) and not all were really fintech (Quid). All of them did their best to impress a passionate crowd of 1,500+ fintech fanatics. Here’s our take on the demos from Read More.
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Payments Dive
MAY 10, 2016
Blinded by the financial windfall of offloading billions in fraud losses to their own customers, the card brands now face serious risks on a number of fronts. Daryl Cornell, the CEO of Triton, gives his opinion about the current industry.
South State Correspondent
MAY 12, 2016
Starting last December, several large banks (Capital One, Discover, etc.) have started to raise rates. As of the first quarter, community banks have not followed suit but interestingly they have done something almost as expensive – they have decreased fees. As can be seen below, after several quarters of increasing fees, the first quarter of this year saw a decrease in service charges generated from deposit accounts.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
Chris Skinner
MAY 9, 2016
Last week I chaired the inaugural Dot Finance Live conference in Nairobi, Kenya. It is Africa’s premier FinTech event, drawing people from all over the countries of sub-Sahara Africa.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
MAY 12, 2016
Richard Buckle, founder and CEO of Pyalla Technologies LLC, wrote a blog post about how he believes security concerns and an abundance of options for consumers continue to stifle widespread adoption of mobile payments.
South State Correspondent
MAY 10, 2016
Your commercial customer is the highest value customer in your bank, right? Your brand, or what your bank stands for, is why that customer is attracted to you. If both these statements are true, why is your commercial transaction process likely the Death Valley of your brand? The more important question is – how is your loan process any different from your competitors and do you add value?
Chris Skinner
MAY 11, 2016
ValueWeb makes the contention that you cannot have an internet of things without a real-time and cheap internet of value. A core part of this is focused upon building a cheap shared ledger structure for digital identity and digital currencies and guess what? That cheap shared ledger is most likely going to be built in Africa. … The post Africa’s blockchain transformation appeared first on Chris Skinner's blog.
Bank Innovation
MAY 12, 2016
Image from actuaries.digital Early stage investors and entrepreneurs make their money when something moves from bleeding edge (lots of technical risk) to leading edge (market and team risk). Blockchain in Insurance is currently at this intersection, which is why we see so much interest in the subject. The technical risk is lessening every day (there… Read more Blockchain in Insurance #insurtech.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
Payments Dive
MAY 13, 2016
Sergio Chalbaud, the founder of a mobile-focused consumer banking platform called Fintonic, examines some of the issues facing mobile wallet providers in the U.S.
South State Correspondent
MAY 9, 2016
While the Kentucky Derby, NBA and NHL playoffs kept bankers busy this weekend, there was also work to be done as we saw our first complete set of data from 1Q. Today, we provide you the most current perspective on our banking industry, as we have compiled the latest data and have attached a complete presentation at the bottom of this blog post.
Chris Skinner
MAY 9, 2016
I enjoyed much of the discussions at Dot Finance, especially the presentation from Kosta Peric of the Bill & Melinda Gates Foundation. Kosta’s been a good friend for some years and features as one of the case study interviews in ValueWeb. He was also responsible for getting Bill Gates to keynote at SIBOS in 2014, … The post A glimpse of tomorrow’s economy: Dot Finance Africa appeared first on Chris Skinner's blog.
Bank Innovation
MAY 9, 2016
Investors were looking to today’s Lending Club Corp. earnings as a sign of validation for the troubled marketplace lending sector. Instead, they got scandal. The company said Renaud Laplanche has resigned as chief executive and chairman after an internal review found sales of $22 million in near-prime loans to a 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
Celent Banking
MAY 13, 2016
American Banker just ran an interesting article about Citi’s foray into the use of geolocation (beacons) as it pilots several use cases in its “smart branches” Several thoughts immediately came to mind as I read Tanaya Macheel’s well-written article: The use of beacons for cardless access to branch ATMs after business hours was the lead use case cited in the article.
South State Correspondent
MAY 11, 2016
. Before credit, asset-liability positioning, deposit gathering and customer engagement, there is one process that is more important that bankers must get right to be successful - and that is hiring. Get this process wrong and your bank will be an underperformer. Make some good hires and you will likely excel in key parts of your organization. Make hiring a discipline of the bank, and you will dramatically tilt the odds in your favor.
Chris Skinner
MAY 8, 2016
Our main stories of this week includes … 20% of Europeans would bank with Google, Facebook or Amazon I got an interesting research report this week about consumer attitudes towards banks in Europe: More than a third of European consumers would move bank if they didn’t offer up-to-date technology to aid interaction Nearly a third are …
Bank Innovation
MAY 12, 2016
SAN JOSE, Calif. – Day 2 of Finovate saw a seeming parade of wealth management and investment solutions, but the final one included a new twist — virtual reality. Was it a bit frivolous? Was the use case far-fetched, strained, even bizarre? Could be, but the audience appreciated it anyway simply Read More.
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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 12, 2016
Online merchants know very well that fraud costs them in many ways – in chargebacks, in false positives, in the friction that’s introduced at checkout that can cost a sale. But there’s nothing like putting the cost of fraud into the parlance that merchants know really well: units sold. Something that Kount says its data shows that merchants must make eight additional sales to make up for the cost of one fraudulent order.
Bobsguide
MAY 9, 2016
The payments space is exploding in the European market, especially as we are beginning to see an increasing number of payments players from other continents entering the most dynamic area for fintech at the moment. bobsguide spoke to Chen Amit, CEO of payment automation platform Tipalti about the.
Chris Skinner
MAY 13, 2016
In a final post about African transformation through technology, I’ve covered the key themes: mobile financial inclusion, smartphone innovation through apps, digital currencies and blockchain identities. One thing missed is a mention of the Water ATM. I hadn’t heard of automated machines for water being deployed before, although it started in India in 2013 and … The post Solving the Insolvable: the Water ATM appeared first on Chris Skinner's blog.
Bank Innovation
MAY 13, 2016
Fear of fintech disruption is still common in banking, but for Bank of the West, “fintech” means opportunity. The San Francisco-based bank is working on deepening its links with Silicon Valley neighbors, and has a hackathon planned for June 17-19 in concert with parent BNP Paribas. “Fintech is already a partner Read More.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
PYMNTS
MAY 13, 2016
President Barack Obama and his administration get a lot of demands, to say the least. Stop ISIS, bring peace to the Middle East, clean up the economy, create more jobs, fix the education system, lower taxes, etc., etc. Of course, that’s just what comes with the territory. One thing that’s probably not higher on that rapidly growing list?
Payments Source
MAY 9, 2016
Six months after the credit card fraud liability shift, merchants who have not implemented chip card technology are complaining about a larger number of chargebacks than they expected. But there are steps that can stem the tide.
Bobsguide
MAY 10, 2016
Trust is a key asset of successful financial services providers, and any move they make to damage that trust can have a broad impact on their business. It is therefore of utmost importance that the solutions they offer, particularly ones that protect their customers, are thoroughly vetted.
Bank Innovation
MAY 12, 2016
Imagine a world where, before you spent a dollar on any good or service you could, at your fingertips trace the entire journey of a product. Did the distributor and transport network that -delivered the coffee beans to this cafe use eco friendly fuels? Is the factory in Bangladesh that hired the tailors for this… Read more Building a better supply chain via the blockchain.
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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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