Bank Innovation
APRIL 7, 2017
The world’s first venture capital fund raised with digital coin offering has gained its first round of investors, including executives from Bloq and Civic. Blockchain Capital, the first venture capital firm to focus exclusively on DLT technology is offering digital tokens that represent a stake in the firm’s third fund. The tokens are held on the Ethereum blockchain […].
Payments Dive
APRIL 4, 2017
Changes in consumer behavior continue to be rapid, disruptive, and largely driven by technology influences, such as mobile devices, big data, the cloud, IoT and machine learning.
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Chris Skinner
APRIL 5, 2017
For as long as I can remember, I’ve been hearing about a War on Cash. The war, as illustrated by India’s recent demonetization, is not on cash itself but on the illegal use of cash and, by association, the fraudulent creation of cash. Both fraudulent notes and coins along with large cash denominated amounts transferring between criminals, spurs the governments of the world to try to get rid of cash.
PYMNTS
APRIL 7, 2017
The approach to financial services for consumers and businesses is quite vast, but across the spectrum, access to and management of financial data is a critical component. Today, APIs have become a popular way for banks to share this financial data with other services and have given rise to more possibilities for FinTechs in how they meet their customers’ needs — and more debate about the security of such facilitated information-sharing.
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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
APRIL 4, 2017
Facebook-owned messaging app WhatsApp is beginning its trek into payments, using the UPI system to enable the feature in India. WhatsApp–which was acquired by Facebook in 2014 for $22 billion–has 1.2 billion monthly active users as of February 2017, many of whom are businesses interacting with their consumers, according to Facebook CEO Mark Zuckerberg. 200 […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
APRIL 6, 2017
I was listening to a financier talking about FinTech the other day, and claiming that they are all sustaining innovations and not disruptive. They were referring to Clayton Christensen’s innovator’s dilemma discussions, where Professor Christensen points to different markets that were destroyed by disruptors. Those markets include the American car industry, destroyed by cheaper Japanese car manufacturing; the fixed line telephone firms destroyed by cellphone makers; the mainframe computer indu
Accenture
APRIL 4, 2017
Long ago, houses in northern China were constructed with windows made of thin, semi-transparent paper. To protect their belongings, the residents had to be good meteorologists to ensure that they pasted up the paper windows in advance of bad weather. Waiting until the rains arrived was too late to act. Storm clouds are gathering over the banking industry in the form of a fragmenting value chain, rapid migration to digital channels, encroaching financial technology firms, and open banking regulat
Bank Innovation
APRIL 5, 2017
More than 15 million people were affected by identity fraud in the U.S. last year, according to a recent study by Javelin Strategy & Research. The identity fraud incidence rate increased by 16%, a record high since the company began tracking identity fraud in 2003. Fraudsters successfully adapted to net two million more victims last year, compared to 2015. […].
Payments Dive
APRIL 4, 2017
As consumer behavior evolves, the ability to use payment cards in a range of unattended terminals is no longer simply a desire, but an expectation. This infographic reveals the results of a survey conducted among US, British and Australian adults.
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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
APRIL 3, 2017
I tweeted this the other day, and it got a lot of likes, so I thought I’d make it today’s blog title. We seem to have lost a lot of buzz on blockchain this year, even thought it’s still buzzing away as much as ever before. I recently was talking about how blockchain is great for IslamTech, as Islamic financial instruments have different degrees of compliance with Sharia Law, dependent upon the Imams who authorise the product.
PYMNTS
APRIL 6, 2017
Oftentimes the best ideas come from trying to solve a problem. And when that problem is a personal one, the drive to create an innovative solution that actually works is even stronger. For Marc Werner, founder and CEO of Nature’s Sleep , this meant making a mattress that actually helped him get a good night’s sleep, despite dealing with chronic neck and back pain.
Bank Innovation
APRIL 3, 2017
Amazon announced its new Amazon Cash offering this morning, alongside a list of participating retailers which thus far include CVS pharmacy and Speedway. However, Amazon Cash seems to be less of a mobile wallet, and more of an alternative payment method for consumers, who lack traditional ways to pay. Unlike Square or PayPal or Apple versions, […].
Payments Dive
APRIL 4, 2017
WWS Cash Management is an effective and efficient multivendor and multichannel solution by Auriga that allows banks to manage the end-to-end cash management process, increasing self-service availability and reducing the cash procurement costs for all cash points, inside and outside the branch (ATMs, ASDs, TARMs, TCRs).
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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
APRIL 4, 2017
I often make a keynote presentation – about two or three times a week – and try to change my presentation as frequently as possible so that those who see me two or three times in a month – and it does happen – aren’t bored but, more importantly, to ensure that I’m not bored too. However, there is a downside to this which is that I can sometimes find a slide deck that I don’t recognise and then need to try and work out what to say.
PYMNTS
APRIL 5, 2017
Making a run to the corner store for one item, or even a few small items, can sometimes be a difficult feat to accomplish. Whether it’s lack of time in a busy schedule, transportation issues, proximity to a good store or just plain, “I’m going to stay home in my PJs and not do anything” laziness, convenience store runs can sometimes be more trouble than they’re worth.
Bank Innovation
APRIL 5, 2017
The Apple Pay universe just keeps on expanding—this time, it’s to international money transfers. iOS users will now be able to use Apple Pay for their payments when sending money transfers with global payments provider Western Union, the companies announced today. Khalid Fellahi, senior vice president and general manager for Western Union Digital, noted in […].
Payments Dive
APRIL 6, 2017
Retailers not using Internet of Things technology may soon want to investigate its potential given big opportunities to boost the customer experience and save big bucks.
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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
APRIL 5, 2017
Things we’re reading today include … Monzo, a UK digital-only challenger bank, granted full banking license China’s Army of Bank Tellers Retreats China curbs ‘Wild West’ P2P loan sector London and Brussels urged to agree Brexit transition deal to protect banks Banks and building societies snub Lifetime Isa launch U.S. regulator fines Credit Suisse unit, adviser over improper investments Co-op Group slumps to £132m loss after bank stake write-off.
PYMNTS
APRIL 6, 2017
At Innovation Project 2017 , Canadian payment solution company Payment Source snatched the top prize in the category of Best Cash Innovation for its in-person payment network Loadhub. PYMNTS caught up with CEO Trevor Cook after the fact to get the lowdown on what’s coming up next for the in-person payment network. Today, consumers can use Payment Source’s Loadhub service to top off a prepaid card or make a bill or collections payment in person.
Bank Innovation
APRIL 7, 2017
Fintechs are becoming more entrenched into the financial ecosystem, with the majority of banks now firmly on the side of collaboration, rather than conflict. More than 80% of financial incumbents anticipate developing more partnerships with fintechs in the next five years, according to PwC’s 2017 Global Fintech Report. However, working with fintechs is nothing like […].
Payments Dive
APRIL 7, 2017
Elan Financial Services has launched a suite of mobile services that allows cardholders of issuer banks and credit unions to control how their debit cards are used.
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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
APRIL 2, 2017
This week’s main blog headlines are …. GulfTech is the next big thing I’ve just returned from the United Arab Emirates (UAE) where there were a number of events. Just a few weeks ago, I was in Bahrain, talking at a conference about FinTech as usual. What struck me is the interest and excitement about FinTech in both … GulfTech is a challenge due to diversity I took part in a webinar the other day, focused upon the developments in digital banking in the Middle East.
PYMNTS
APRIL 5, 2017
Magento , an eCommerce platform, announced on Wednesday (April 5) that it will now support B2B capabilities through the launch of its Magento Digital Commerce Cloud for B2B offering. The digital cloud for B2B companies will handle the complex B2B commerce requirements in order to empower manufacturers and distributors to grow and enhance their businesses.
Bank Innovation
APRIL 4, 2017
Mobile wallets have failed so far because they haven’t offered customers a strong enough incentive to use them versus cards. The exception, Starbucks, offers free coffee, but it did that with its gold cards too. LevelUp, into which Chase poured $10 million in December, offers its loyalty-heavy solution to merchants as well — spend $50, […].
Bobsguide
APRIL 7, 2017
Deutsche Bank’s Chief Executive, John Cryan, predicted at Davos last year that cash probably wouldn’t exist in ten years’ time. Sweden, where only 20% of all consumer payments are now made in cash, appears to be at the forefront of the movement to phase out notes and coins.
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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