Sat.Oct 14, 2017 - Fri.Oct 20, 2017

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Why bankers only see horses and technologists are creating cars

Chris Skinner

I was at a large bank’s wealth management conference recently, where the CEO was being quizzed about various areas including a lot about technology and FinTech. He made several statements that I noted with interest: “Roboadvisory services improves our speed-to-market and human productivity, but does not replace humans. In particular, … The post Why bankers only see horses and technologists are creating cars appeared first on Chris Skinner's blog.

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Monetizing Venmo Could Lead to Millennial Trouble for Zelle (and Banks)

Bank Innovation

EXCLUSIVE— Is Zelle in trouble? PayPal’s third quarter earnings, specifically the quarterly results of its popular P2P app Venmo, seem to suggest that the answer is yes. The banks’ Venmo challenger is growing quite well, reporting just over $30 billion in transactions for the first half of 2017, but the app in question had a […].

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How QR codes are changing e-commerce

Payments Dive

The QR code – which has had a wild ride – is going to both speed up the e-commerce payment experience and make it more secure.

Security 305
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Chase Acquires WePay Payments Platform

PYMNTS

Can big banks be nimble of foot when it comes to FinTech? One giant — JPMorgan Chase & Co. — is taking some definitive steps on that stage. JPMorgan announced today (Oct. 17) it is acquiring payments platform WePay. The combination will create an ecosystem of platform developers and small businesses, powered by WePay’s ability to integrate payments functionality into software and fueled by Chase’s global reach, small business product portfolio and network of 4 million small businesses.

Payments 217
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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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A global currency is coming, whether you like it or not

Chris Skinner

Continuing yesterday’s discussions about a big bank’s conference, I was intrigued at how often the subject of cryptocurrencies and bitcoin came up. But there again, it’s a topical thing at the moment with the price of bitcoins surging past the $4,000 mark and Goldman Sachs going against JP Morgan, and saying that … The post A global currency is coming, whether you like it or not appeared first on Chris Skinner's blog.

Bitcoin 327

More Trending

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Mobile wallets: In a lull or never really a thing?

Payments Dive

A study from JPMorgan Chase and Forrester Consulting concludes that both consumers and merchants are taking a break from adopting digital wallets as they wait for the "next wave of progress.

Mobile 239
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Mastercard Begins Offering B2B Blockchain Tech

PYMNTS

On Friday (Oct. 20), Mastercard announced news that it will be opening up access to its blockchain technology through its developer’s API. Initially, the technology will be made available for B2B transactions, specifically to address the demands of cross-border payments. Mastercard is not the only firm delving into blockchain. The company joins Google, Overstock, Citi and Goldman Sachs in embracing the distributed ledger technology.

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The truth about bitcoin

Chris Skinner

It’s been an interesting few weeks, watching bitcoin’s rollercoaster ride as it rises to valuations over $4,000 and then dives to almost $2,000 before rising again to near $6,000. This is for an asset that just a year ago you could have purchased for a few hundred dollars. The rise … The post The truth about bitcoin appeared first on Chris Skinner's blog.

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ICO Funding vs. Blockchain Equity Funding. And the Winner is…

Bank Innovation

There’s no denying the blockchain phenomenon, or that of Initial Coin Offerings (ICOs). But it seems like ICOs are surfacing in the media more and more with every passing the day. It’s not just media buzz: a report by CBInsights shows that since January 2016, over 250 blockchain-focused firms have completed ICOs, with more than […].

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The State of Automation in Financial Services 2024 Report

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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Will smart speakers lead to smarter payments?

Payments Dive

With the explosive growth of the Internet of Things, and particularly of smart speakers like the Amazon Echo and Google Home, voice commands are becoming more powerful and pervasive than ever, changing the way we do everything from checking the weather to scheduling a doctor's appointment. But what about voice shopping?

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The Secret World Of APIs

PYMNTS

From an acronym known mostly by programmers in the early 2000s to something thousands of innovators have embraced to ignite numerous innovative solutions, it’s been an electric journey for the application program interface (API). According to David Koch, chief commercial officer at financial services provider FI.SPAN — a company that build an API-based platform to connect FinTechs and corporate customers to financial institutions (FIs) — APIs have unleashed an incredible number of opportunities

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The truth about Ant Financial …

Chris Skinner

I finally finished writing my new book. I’m not going to say too much about, except that you should buy it when it comes out. It’s very good. But then I would say that, wouldn’t I? A key theme in the new book is financial inclusion and, to those ends, … The post The truth about Ant Financial … appeared first on Chris Skinner's blog.

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Blockchain Yes, Bitcoin Not So Much, Bernanke Says

Bank Innovation

EXCLUSIVE–Former Fed Chairman Ben Bernanke may see blockchain’s potential for payments innovation, but that innovation isn’t going to involve cryptocurrenices. This is according to remarks made by Bernanke during the Swell Ripple conference yesterday, an event that’s being taking place at same time and city (Toronto) as the SWIFT Sibos conference.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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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How financial institutions can get started with AI today

Insights on Business

If 2016 was the year artificial intelligence (AI) became a buzzword for the financial services industry (among many others), then 2017 has been more a year of introspection. There’s a growing awareness on the state and application of AI within the industry. AI is not yet a magic switch, particularly for financial institutions (FIs) where data access and security play a critical role.

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Alipay, Marqeta Partner To Bring Chinese Payments Stateside

PYMNTS

Marqeta , an open API card issuer, and Alipay , a third-party payment platform popular in China, have announced news of a partnership that will make using Alipay easier in the U.S. Marqeta’s API platform will reportedly ease completion of Alipay’s payments in real time. Alipay has more than 520 million registered users in China, according to the firm.

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Answering the hardest questions in the world

Chris Skinner

I recently stumbled across a marketing campaign being run by UBS, which tries to answer the hardest questions in the world. The questions cover everything from equality to politics and, to illustrate what they are debating, here are a few examples: Why is there such a big gap between the richest … The post Answering the hardest questions in the world appeared first on Chris Skinner's blog.

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Banks Need to Play Catch Up with Amazon And Other Tech Giants When it Comes to Open Banking

Bank Innovation

EXCLUSIVE—Tech giants have already figured out open banking, and more than the growth of fintech firms, this should make financial incumbents nervous. “You don’t need a banking license, which some of them have, to [create] financial services that people use: services like Amazon Lending, PayPal Credit, whatever it is,” Louise Beaumont, strategic advisor for SapientRazorfish […].

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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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Does your digital lending go beyond mobile?

Bobsguide

Digitization is very topical at the moment, it has triggered many conversations and its impact in banking has been hotly debated. Financial services seem to be ripe for disruption by the new breed fintech companies for a number of reasons including rapidly evolving customer preferences, declining.

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BofA Enhances The Spreadsheet With APIs, Artificial Intelligence

PYMNTS

In corporate finance, “Excel spreadsheets” is nothing short of a taboo. But a new solution from Bank of America Merrill Lynch is looking to make better use of the notoriously manual tool. The financial institution (FI) announced news on Tuesday (Oct. 17) that it is deploying artificial intelligence (AI) and API technology to integrate its solutions directly with Microsoft Excel.

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The Finanser’s Week: 2nd October – 15th October 2017

Chris Skinner

The top blog posts of the last fortnight include … The next ten years of technology from Gartner and Skinner I just spotted that Gartner have made a series of ten bold predictions for IT 2018 and beyond. They are summarised nicely by Forbes and are: By 2021, early adopter … The post The Finanser’s Week: 2nd October – 15th October 2017 appeared first on Chris Skinner's blog.

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ICOs and Token Sales Explained by the ‘Queen of Bitcoin’ [PODCAST]

Bank Innovation

If you’re not sure what an ICO is, well, join the club — but you’re in the right place to find out. Margaux Avedisian of Transform Group stopped by to explain it to us. She is in the business of getting attention to initial coin offerings and token sales, and has been steeped in bitcoin longer […].

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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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Sibos 2017: The death of â??rip and replaceâ?? digital transformation: Nadeem Syed interview

Bobsguide

The Finastra CEO sits down with bobsguide to discuss banks’ changing approach to overhauling legacy systems. What are your key takeaways from the customer meetings you have had at Sibos so far? One of our key beliefs, and something that has also been confirmed as we speak to our.

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Mastercard Bids Bye-Bye To The Signature

PYMNTS

Signing at the end of a transaction at the physical point of sale is hardly ever about showing off a consumer’s best penmanship. Often distracted and always in a hurry, buyers typically produce what could only be described as a cross between modern art and a second grader’s early attempts at cursive. And nothing that could ever be mistaken for a proper human name.

Training 153
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Things worth reading: 16th October 2017

Chris Skinner

Things we’re reading today include … A Bank of England rate hike would be ‘extraordinary’ step for Britain’s Brexit economy As the quartet breaks up, central banking leadership flux looms Lloyds shareholders’ court case over HBOS takeover set to begin Can the UK make the most of sukuk, the Islam-compliant … The post Things worth reading: 16th October 2017 appeared first on Chris Skinner's blog.

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Russia Will Launch Its Own ‘Cryptocurrency’

Bank Innovation

Russian Minister of Communications and Mass Communications Nikolai Nikiforov has announced that the Russian state will “quickly” issue its own cryptocurrency, called the “CryptoRuble,” as reported by the Russian publication AIF. One segment of Nikiforov’s statement, according to CryptoCoinsNews, reads as follows: I so confidently declare that we will launch the CryptoRuble for one simple […].

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.