Bank Innovation
MARCH 17, 2017
Banks are entering what could well be a Golden Age — deregulation, rising interest rates, and a bevy of fintech startups eager to hop into bed with them. Will they take advantage of this fintech opportunity? “Banks now have the capital to put to work and invest in growth after a long period of cost-cutting,” […].
Payments Dive
MARCH 17, 2017
If 2015 was a defining moment for mobile use in retail, then 2016 showed the industry what is possible as merchants continued to fine-tune their app experiences for consumers. And they will continue along that path well into 2017 and beyond.
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Chris Skinner
MARCH 14, 2017
I was asked this question at a recent conference and yes, banks do believe that the mass poor are just that: poor. How do you make a profit out of the poor? Well, truth be told, the poorest are the most profitable. They’re the ones who need loans and go overdrawn, and therefore pay all the fees for the rest of us – the mass affluent – to get our banking for free.
PYMNTS
MARCH 17, 2017
Financial software firm Misys had a bit of a roller coaster year in a market constantly in flux. The U.K. company canceled its IPO last October, citing “ current market conditions” as its reason behind deciding not to pursue an estimated $7 billion float on the London Stock Exchange. Those market conditions present interesting obstacles and opportunities for everyone in the banking FinTech space.
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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
MARCH 14, 2017
Mobile apps for bank employees are just as valuable as those for customers. At least that’s the idea behind IBM’s MobileFirst for iOS app suite — apps, designed specifically for bank employees in different sectors, including corporate, private and retail, SME, and others. To create the suite – intended for various industries in addition to banking – IBM first […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
MARCH 15, 2017
Building on my challenger bank discussions, there’s some interesting points coming out of a new report by Price Waterhouse Coopers (or Playing the Wrong Cards as they’re now called, after the Oscars) on challenger banking. It’s well worth a read, especially as they found that having branches is more important than mobile apps. The survey showed that 68% of consumers thought a bank branch was essential when opening a new current account, compared with 25% who favoured a mobile app.
PYMNTS
MARCH 17, 2017
Awards Ceremonies look easy enough from the outside, but are a lot harder to do right than just getting attractive and talented people in a room, putting them in their evening wear finest and honoring them for their myriad achievements. Sure, when it goes right, things look that easy — but when things go wrong … well, we all saw the Oscars this this year.
Bank Innovation
MARCH 16, 2017
Payments services provider Vantiv becomes the largest U.S. merchant acquirer, beating FirstData for the first time in 20 years. According to Nilson Report, released this morning, Vantiv increased purchase transactions to 21.2 billion in 2016, up almost 20% from the year prior. FirstData came in second, logging in 19.8 billion transactions. Three banks were featured […].
Payments Dive
MARCH 14, 2017
Venmo has staked its claim as a verb, which says something about its ubiquity. Masterpass and Zelle? Not so much.
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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
Chris Skinner
MARCH 16, 2017
I remember organising my first banking conferences in the 1990s and there was a regular mantra amongst the memes of the folks speaking on stage. There is more change coming and you’re going to be dead meat unless you change. It was a common theme to hear the word disintermediated being used in these speeches. Microsoft, Wal*Mart and Virgin are all coming for your lunch, you’re going to be disintermediated.
PYMNTS
MARCH 14, 2017
A new report by Global Market Insights reveals that the market size for mobile POS terminals will gain significant growth in the coming years, with a compound annual growth rate (CAGR) of more than 19 percent from 2016 to 2023. According to a press release , the POS Terminal Industry is expected to be valued at $103.52 billion by 2023, with the growing demand for mobile-based features, such as online payments, and the preference for smartphone or tablet usage boosting the market’s growth.
Bank Innovation
MARCH 16, 2017
What’s keeping bankers awake at night in 2017 – and what’s helping them leap out of bed in the morning, ready to help make customers’ financial dreams come true? We got a glimpse of this at Bank Innovation 2017, our invite-only event in Silicon Valley earlier this month. (If you missed the action and are […].
Bobsguide
MARCH 16, 2017
It’s clear that artificial intelligence (AI) is already one of the defining trends in fintech in 2017 and an increasingly popular buzz word in the industry. Businesses are gradually understanding the importance and benefits of machine-learning technology. Self-made billionaire Mark Cuban.
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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.
Chris Skinner
MARCH 17, 2017
Things we’re reading today include … Brexit: Poland aims to be big winner from battle for UK banking jobs Google Chrome scam tricks users into emailing bank details to criminals New-generation UK banks challenge with technology Mobile-only bank N26 hits 300,000 customers TransferWise partners with digital-only Starling Bank Atom Bank to cut market-leading savings bond rates at midnight Ukraine preparing sanctions against Russian banks Yahoo cyber indictment shows Kremlin, hackers wor
PYMNTS
MARCH 13, 2017
As banking becomes more digital, more financial institutions are turning to technological solutions to bring more customers on board. Several banks are rolling out banking solutions that are specifically focused on winning over millennial customers as they come of age and join the marketplace as adults. Some millennial-focused banking solutions include financial tools to help users manage their money and meet their financial goals.
Bank Innovation
MARCH 13, 2017
JPMorgan Chase will acquire Merchant Customer Exchange (MCX) payments tech – a network of the largest U.S. merchants, which ran a short-lived CurrentC pilot last year – the companies announced on Friday. The acquisition will help expand Chase Pay, which was launched in Oct. 2015 – with MCX as the “premier” launch partner. The deal may also […].
Payments Dive
MARCH 16, 2017
This market report gives an overview of the mobile payments landscape of the Central & Eastern Europe.
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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.
Chris Skinner
MARCH 11, 2017
A summary of the main blogs of the week … The Fast and the Furious I was having a conversation with a friend about the issues at Monzo this week (among others). Their third-party payments processor had an outage at the weekend so the cards couldn’t be used. Then they had crashes on Android and lost payments in the app. … The Grade II Listed Bank I got a laugh the other day when I referred to Grade II Listed Banks, but I was serious.
PYMNTS
MARCH 13, 2017
Fraudsters are always looking for unsuspecting payments types that can be used to perpetrate their crimes. Today, that means alternative payment methods, or APMs. G2 Web Services categorizes these alternative payments among eight different types, which include peer-to-peer (P2P) payments, money service businesses (MSBs), eWallets, mobile payments, prepaid cards, vouchers, bank debits and credits or linked bank accounts and cryptocurrencies.
Bank Innovation
MARCH 13, 2017
How do you choose where to focus your innovation team? Marie Floyd, senior vice president of digital customer experiences for Wells Fargo, has some tips. Floyd, who joined Wells Fargo in 2015, has worked in the tech industry for more than 30 years, and for companies like Intuit, eBay, and IBM. In her time at […].
Celent Banking
MARCH 16, 2017
In a previous post I argued for the enduring importance of human, face-to-face contact in financial services. By the reactions I received, you’d think I was purposefully inciting controversy. One influential industry observer thought I was irresponsible in advocating inaction. Another wrote a lengthy and snarky rebuttal. Others took issue with my comparing retail banking to other retail categories, as if there is nothing to be learned by studying the broader digital commerce landscape.
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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.
Chris Skinner
MARCH 15, 2017
Things we’re reading today include … Identity fraud reached record levels in 2016 Iceland’s recovery shows benefits of letting over-reaching banks go bust Taxpayer stake in Lloyds Banking Group goes below 3pc Bitcoin ETF: quick silver Charlotte Hogg resigns as Bank of England deputy governor The five charts that show how economically risky Scottish independence would be Cyber security: Experts warn on rise of hacker ransoms Sterling slips as Brexit talks get green light, stocks
PYMNTS
MARCH 14, 2017
Fear is holding back small businesses from trading internationally, according to a report from HSBC late last year. Specifically, a lack of international business knowledge and experience has small suppliers reluctant to step onto the global stage. Those fears aren’t necessarily unfounded, either. Stepping onto the international market means exposure to new types of risk, including the risk of non-payment from a foreign, unfamiliar corporate client.
Bank Innovation
MARCH 13, 2017
Vista Equity Partners will acquire Canadian financial services provider D+H, and merge it with Misys — financial software provider — the company announced today. The merger will create, what appears to be, a mega fintech, serving 48 of the world’s top 50 banks, among other clients, and generating about $2 billion in annual revenue — or […].
Bobsguide
MARCH 12, 2017
Anders la Cour, Chief Executive, Saxo Payments. The global transaction banking industry is experiencing one of the biggest shake-ups it has seen in decades. Non-bank tech disruptors such as Bitcoin and the blockchain, the eastward shift in global economic power, low-interest earnings in developed.
Advertiser: Data Robot
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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