Sat.Sep 07, 2019 - Fri.Sep 13, 2019

We’re just a technology company that happens to have a banking licence

Chris Skinner

I hear this a lot, and don’t like it. Many banks say it these days, and they say it to be cool. To be like a start-up. To be like a Silicon Valley angel investment firm. To be like a young, FinTech unicorn.

Plugging leaks: Bento for Business uses tech to help clients streamline payments

Bank Innovation

As consumer payments go digital, startups and banks now are focusing on digitizing business-to-business payments, an area where small business owners still are reliant on paper checks and a multitude of expense-management tools.

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Making digital payments work in the moving and storage space

Mobile Payments Today

The moving and storage industry can benefit tremendously from upgrading to a modern payment system that supports EMV and allows for alternative payment options

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Walmart To Expand Delivery Unlimited Program

PYMNTS

With an expansion of its Grocery Delivery membership option for customers, Walmart plans to grow the reach of Delivery Unlimited to 1,400 stores later this autumn. The offering allows shoppers to pay a monthly or yearly fee to get unlimited Walmart Grocery Delivery orders.

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Where the AI rubber hits the banking road

Chris Skinner

I was talking with a senior banker, who told me that he was in charge of the Artificial Intelligence program in the bank. I was impressed as he is part of the executive leadership team of the bank and not the CIO.

US Bank’s White: Digital banking is now more than DIY

Bank Innovation

As digital banking goes mainstream, banks are recognizing that a mobile app that lets customers carry out day-to-day tasks isn’t enough. It’s a reality for which U.S.

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More Trending

MoneyGram Teams With Visa On P2P Debit Card Deposits

PYMNTS

MoneyGram and Visa Direct have formed a strategic partnership to roll out a new debit card deposit service, the companies announced in a Sept. 9 press release. The person-to-person (P2P) money transfer option offers U.S.

Cards 281

Money without government? Emperor’s without Clothes?

Chris Skinner

I finally hit the nail on the head about why you can’t have money without government.

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Varo drops goals feature from app, citing low user uptake

Bank Innovation

In a sea of sameness among digital-only banks, Varo is taking a bold move in pulling the plug on a feature that millennials supposedly hold dear: goals-based savings envelopes.

Ride sharing, delivery firms gear for battle after California reclassifies workers in new bill

Mobile Payments Today

A bill that reclassifies gig workers at ride sharing, delivery and other app-based firms passed overwhelmingly in California.

Do Grocery Stores Need Happy Hours?

PYMNTS

While in many places, the “best” time of day for a trip to the grocery store is a matter for debate, for some shoppers in Finland, the answer is easy. It’s between 9 p.m.

Things worth reading: September 13, 2019

Chris Skinner

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Mastercard’s Miebach: Prepaid cards are not a niche business

Bank Innovation

Mastercard is doubling down on its prepaid card business, which it sees as fuel for the rise of many consumer-facing fintech companies. During its investor day on Thursday, the payments giant said its prepaid card business grew 19% in gross dollar volume from the first half of last year.

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Should My Financial Institution Enter into This Interest Rate Swap?

Abrigo

A rather common method for financial institutions to hedge earnings or value at risk is an interest rate swap transaction. As we move into ever-changing rate environments, eventually you or someone on your ALCO committee may wonder exactly what an interest rate swap would do for the institution.

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How Video Games Are Helping Retailers Grow And Innovate

PYMNTS

Video games are helping to drive retail innovation and growth, and that includes the hot area of subscription commerce. Video games have changed a lot since the early days of home gaming in the late 1970s and early ’80s.

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Elvis seen opening a bank account in Hawaii

Chris Skinner

As it’s Friday, a slightly more whimsical post.

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Retail rewards as in-app cash: Venmo embeds with loyalty programs

Bank Innovation

Brands have begun to Venmo their most loyal customers with rewards points converted to Venmo cash.

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Can Financial Institutions Bank CBD Retailers? Did the Farm Bill Legalize CBD?

Abrigo

The Federal Trade Commission’s latest round of warning letters to companies selling products containing cannabidiol (CBD) is a reminder to financial institutions to tread carefully as they look into the possibility of providing banking services to cannabis-related retailers and other cannabis-related businesses (CRBs).

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Serving Up A Competitive Offering In The Crowded Meal Kit Market

PYMNTS

For a consumer who wants to cook at home, but doesn’t necessarily want to spend a lot of time preparing for that process, there are no shortage of options on the market.

All we are saying, is give us a chance

Chris Skinner

One of the key attributes of many of the firms I’ve talked to about doing digital transformation is that there are lay-offs but, whenever possible, these banks support people to change careers.

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Jack Dorsey’s Square is testing a new free stock trading service

Bank Innovation

Jack Dorsey’s Square already lets customers buy and sell Bitcoin on its popular Cash App. Soon, it may let them buy and sell stocks. Square is testing out a new Cash App feature that would enable users to make free stock trades, according to a video outlining the product’s features seen by Bloomberg.

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Leverage New Bank Technology by Examining Current Processes, Pain Points

Abrigo

Imagine buying a new engine for your car. Your car, however, happens to be 8 years old, with tread-worn tires, and a window that won’t roll up.

Eyeing Improved SAP, EVO Payments Locks Down Delego Purchase

PYMNTS

Global payments technology provider EVO Payments announced it has purchased SAP firm Delego Software, EVO said in a press release on Tuesday (Sept. Delego has deep roots in technology and was originally launched in 1997 as an SAP consulting business.

The Finanser’s Week: 2nd September – 8th September 2019

Chris Skinner

The main blog headlines are … We just haven’t got a clue what to do! I was talking with a CXO of a bank. They are actively engaged in ‘going digital’, but she was sharing with me that the bank’s executive team had no idea what going digital means.

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How Goldman-backed Credijusto is reaching Mexican small businesses

Bank Innovation

Credijusto, a Mexican small business lender, is using data points like tax and invoice information to reach small businesses typically out of reach of large banks.

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A Checklist For Any Bank Considering a Payment Strategy

Banker to Banker

Payment Innovation When it comes to long-range strategic planning in banking, what to do about payments, should be in the top five considerations up there with treasury management, capital allocation, risk tolerance, and human capital.

PepsiCo Launches First Cash-Back Loyalty Program

PYMNTS

PepsiCo announced it has launched its first-ever cash-back loyalty program, PepCoin by PepsiCo. Through the program, customers will earn cash rewards when they purchase a single-serve PepsiCo beverage and Frito-Lay snack together (each must be specially marked).

Things worth reading: 9th September 2019

Chris Skinner

How Academy Bank is using video to improve service efficiency

Bank Innovation

When customers walk into one of Academy Bank’s new branches, a banker will guide them to a screen where they can video chat with a specialist at Academy’s headquarters in Kansas City.

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DeFi will eat traditional finance and dramatically expand the global lending market

Daily Fintech

In Assyria and Sumeria, merchants made grain loans to farmers and traders that carried goods between cities. In ancient Greece and during the Roman Empire lenders that were based in temples made loans.