Bank Innovation
OCTOBER 11, 2017
EXCLUSIVE— It’s no secret that banks don’t move all that fast when it comes to new innovations, but most are starting to match fintechs at the customer experience level, according to Verizon, which provides software and internet connectivity to much of the industry. But the internal systems of traditional financial institutions are a different story. […].
Chris Skinner
OCTOBER 9, 2017
Following on from talking around the big ten tech themes last Friday, I thought I would follow up with five FinTech themes for right now. This came out of a keynote speech I gave at Celero’s 9th annual technology conference in Canada last week. It was fun with the CEO, Bob … The post Five FinTech Themes from 2017 appeared first on Chris Skinner's blog.
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Abrigo
OCTOBER 10, 2017
By John Brown, Founder of Business Enterprise Institute, Inc. Setting goals is critically important when you approach the inevitable exit from your business. Without goals, even the strongest systems fail, as they have no purpose to work toward. Your goals are what guide your process toward a successful exit, and without them, you will find wheels spinning in the mud of indecision.
Payments Dive
OCTOBER 10, 2017
The banking industry has always tended to be conservative and extremely cautious with any kind of experimentation. This is certainly true with blockchain. But it's also true that banks realize the technology does have applicability, and cannot be ignored.
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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
OCTOBER 11, 2017
Insurtech Lemonade has opened its platform “to the world,” as stated by company co-founder Shai Wininger. The company, which provides quick and easy home insurance via mobile, will now allow developers to access their platform through the Lemonade API. This will allow developers to add Lemonade Insurance alongside their main products, according to the company. […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 9, 2017
When sea change comes to payments, some ride the waves, others get queasy – and still others reach for life preservers. Open banking looms in many corners of the world, mandated in some areas (think PSD2) while driven by market forces in others (here in the United States). Last week, the Canadian Bankers Association said in a release that the government should evaluate open banking a bit more carefully before fully committing to the concept.
Payments Dive
OCTOBER 12, 2017
Artificial intelligence (AI) is a hot topic, and companies everywhere are exploring how this technology can help to enhance the customer experience. The banking software company Auriga has published a whitepaper to explain what the financial industry needs to keep in mind when implementing AI-powered chat bots.
Bank Innovation
OCTOBER 13, 2017
SWIFT has dubbed its blockchain projects successful, according to a report published today regarding its proof-of-concept with the technology. The inter-bank network’s proof-of-concept, announced back in January 2017, was aimed at testing whether blockchain could be used for more efficient international transactions. Specifically, the test dealt with funds in Nostro accounts, and sought to determine […].
Chris Skinner
OCTOBER 13, 2017
Things we’re reading today include … Who is John Flint? The new HSBC boss knows the business inside out UK banks plan biggest squeeze on consumer credit since 2008 Lloyds Bank swoops on Zurich’s UK pensions and savings business Equifax removes webpage after malware issue JPMorgan’s card gamble lures millennial … The post Things worth reading: 13th October 2017 appeared first on Chris Skinner's blog.
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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
PYMNTS
OCTOBER 11, 2017
Based on the activity of the past few weeks, it seems API-based solutions are becoming more at home on mobile devices as various companies launched several app-based solutions to expedite cash flows in different global markets. These developments could offer help to consumers, executives, entrepreneurs or freelancers as they conduct their own types of business.
Payments Dive
OCTOBER 10, 2017
The introduction of Payment Banks and Small Finance Banks in the Indian banking industry is expected to make banking services more accessible to everyone across the country.
Bank Innovation
OCTOBER 10, 2017
Digital Wallets is going to be big. Despite a very slow rate, both merchants and consumers are vouching that the value a digital wallet poses is tremendous to both parties. According to a report by Forrester Consulting, cardless ATMs, P2P payment apps, and store loyalty programs have positioned mobile wallets to be the next big […].
Chris Skinner
OCTOBER 12, 2017
I find it interesting as we move towards Open Banking and Open APIs through regulations at both the UK and EU levels. The push is for data sharing with trusted third parties with user consent. All well and good, you would think, but several surveys point to it not being … The post Don’t be so blasé about people loving FinTech 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.
Accenture
OCTOBER 9, 2017
In part one of my blog on atomizing payments, I explained how payments volumes are likely to expand 25 times or more in the future, resulting in trillions of new payments. In part two, I explain a precedent for this atomization and its implications, and how the payments industry needs to prepare. Precedent and Implications. Atomization of communication is a precedent.
Payments Dive
OCTOBER 10, 2017
As ATM footprint continues to grow, banks face unprecedented challenges in effectively monitoring and auditing transactions at the device level.
Bank Innovation
OCTOBER 10, 2017
For those customers withdrawing their money from Wells Fargo, the bank has now added another way to over 5,000 of its ATMs: users can now use NFC or “tap and pay” at the terminal. The capability works through the customer’s mobile wallet feature — for now, it’s available for Apple, Android, or Samsung Pay customers, […].
Chris Skinner
OCTOBER 11, 2017
I blogged about the FinTech themes that came out of the Celero conference the other day and forgot to mention that I recently joined a one-day retreat at Payments International in London, as a facilitator. I don’t do such intimate work very often, where I sit with a few people … The post Five more FinTech themes … 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.
PYMNTS
OCTOBER 13, 2017
When it comes to global investments, there’s no place like the U.S. to invest in a home – or a rental property or seasonal vacation home, for that matter. Foreign property buyers appear to have gotten that message, if research from the National Association of Realtors (NAR) is any indication. According to the NAR’s most recent report analyzing the purchasing activity of foreign buyers in the U.S., such purchasing of American properties has surged by double digits over a one-year period.
Payments Dive
OCTOBER 12, 2017
Bank executives gathered in Chicago last month to listen to keynotes and panels about evolving consumers' expectations when it comes to their banking relationships.
Bank Innovation
OCTOBER 12, 2017
Professional services company, Accenture, has been hired by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) to develop a prototype using distributed ledger technology (DLT) for processing interbank payments. The project is in Phase 2 of an initiative called Project Ubin, which is led by MAS and ABS as […].
Chris Skinner
OCTOBER 13, 2017
I’ve blogged on some of the themes I’m going to cover below, but the story gets clearer and clearer in my head the more I blog about and talk about it, so this version may be a little clearer than some that have gone before. The first is that banks … The post One brilliant thing is way better than 1000 average ones appeared first on Chris Skinner's blog.
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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.
PYMNTS
OCTOBER 10, 2017
“Does this merchant pass the Debbie Test?”. That’s the first thing Donald Kasdon, chief executive officer of credit card processing and payment solutions provider T1 Payments , said he asks when considering whether the processor should take on a new merchant. Debbie is Kasdon’s mother and, according to Kasdon, she’s the perfect litmus test for a vendor’s risk level.
Let's Talk Payments
OCTOBER 10, 2017
Everything new is well-forgotten old. FinTech is not a disruptive force (and blockchain is not a disruptive technology). Rather, it’s the history of institutional banking repeating itself. And the further.
Bank Innovation
OCTOBER 12, 2017
The People’s Republic of China will likely re-legalize cryptocurrency trading, ending its nation-wide ban on crypto exchanges from early September, as reported by cnLedger, a well-known source on cryptocurrency news in China. The report in question revealed that Xinhua News, recognized by many as the voice of the Chinese Government, published the following statement: Virtual […].
Chris Skinner
OCTOBER 8, 2017
Things we’re reading today include … Swedish challenger bank Handelsbanken commits to UK but wants Brexit clarity Have we learned our lessons from the financial crisis? Don’t bank on it EU raids Polish and Dutch banking groups over fintech access Staley scrutinised as Barclays faces historic dilemma Chief of Credit … The post Things worth reading: 9th October 2017 appeared first on Chris Skinner's blog.
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