Chris Skinner
JULY 14, 2016
I tried to make some allowance for ANZ running a 40-year-old core system yesterday, by pointing to the fact that people are slow to change and there may well be no compelling reason to switch a legacy system. Even though I’ve tried to make the case many times: Banks with pre-internet age core systems have … The post The compelling case to replace a 40-year old core system appeared first on Chris Skinner's blog.
Bank Innovation
JULY 12, 2016
The latest to trend on iTunes and Google Store: Pokemon GO. Pokemon GO, released last week, reportedly has more than 5 million users across the three countries, U.S., New Zealand, and Australia. Pokemon has been around for decades (that’s probably why it’s so popular among adults, too), and the game Read More.
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Payments Dive
JULY 13, 2016
To help identify the best way to markets, this eBook presents the information banks need to make an informed decision on bringing Android mobile payments services to market to suit their requirements.
South State Correspondent
JULY 13, 2016
To be clear, earlier this week, we already had people in our bushes hunting around for small fictional characters, so the idea of being proactive and actually purchasing the "Lures" wasn’t that much of a stretch. The real hilarity ensues when you find yourself explaining why your avatar needs to go to the “Pokémon Gym” because there is an important battle with Charizard on the horizon instead of talking about BSA regulatory issues, but this is the new world we find ourselves in.
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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
Chris Skinner
JULY 12, 2016
Well I couldn’t let this one go by without commenting on it. A regular theme in the blog is get rid of old technology if it’s running core systems. The reason is that systems designed before Mark Zuckerberg was born are surely not fit for purpose in this day and age. Well, the CIO of … The post ANZ don’t need to change core systems … yep and Father Christmas might visit too appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JULY 11, 2016
The free-to-play augmented reality mobile game has taken three nations by storm. Mobile wallet executives can learn a thing or two from the game's success.
PYMNTS
JULY 11, 2016
There’s another digital currency in town, and its name is YoCoin. The question is: Can YoCoin give bitcoin a run for its money? We’ll have to wait and see. But YoCoin is pitching itself as a “new cryptocurrency with mainstream appeal.” “Unlike most of the alternative cryptocurrencies, YoCoin is a decentralized, peer-to-peer digital currency based on the Scrypt mining algorithm, making it far more accessible than bitcoin is when it comes to mining.
Chris Skinner
JULY 15, 2016
I just received this press release and felt it worth sharing with y’all: The House of Lords Economic Affairs Committee will next week take evidence from the Deputy Governor of the Bank of England on blockchain technology, the distributed ledger that allows Bitcoin to function as an online currency. The session comes as the Bank … The post House of Lords to ask the Bank of England: “Is it time for BritCoin?
Bank Innovation
JULY 14, 2016
Have you ever received a piece of mail from your bank offering something completely irrelevant, like a home loan just months after you’ve bought a house? You’d think this would be a thing of the past with the data banks have access to, but it’s still happening in the digital age. Read More.
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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
Payments Dive
JULY 15, 2016
Christopher Barnard, the president of Points, is the latest industry executive to urge mobile wallet providers to add loyalty programs to their schemes.
PYMNTS
JULY 14, 2016
Bitcoin may be a preferred method of payment for a slew of tech-savvy people, but it has yet to take off with the masses, or even micro-masses. iPayYou, the bitcoin wallet, is aiming to change that with a new service launched today (July 14). Dubbed Pay-by-Twitter, iPayYou is the first bitcoin wallet that enables Twitter’s 310 million monthly active users to make peer-to-peer payments over Twitter.
Chris Skinner
JULY 13, 2016
I talked about the legacy problem yesterday and, in reality, the problem isn’t just the legacy system. It’s the legacy people and legacy customer. The legacy people are the ones who sit in the organisation and resist change. They know where their cheese is and they don’t want it to move. This appears to be … The post Legacy people is why we use legacy systems appeared first on Chris Skinner's blog.
Bank Innovation
JULY 11, 2016
Capital One will be the fifth bank to go live with realtime peer-to-peer payments on the clearXchange network, it was announced this morning. Capital One 360 customers can currently receive realtime payments from other banks in the network, which now includes Bank of America, JPMorgan Chase, U.S. Bank, and, most recently, Read More.
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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.
Payments Dive
JULY 14, 2016
MasterCard has announced some new features to its digital wallet service, including the ability for banks to add contactless payments to their Android mobile banking apps.
PYMNTS
JULY 11, 2016
Big companies like PayPal have been dominating the digital payments world for many years. And then came Apple, along with the other tech companies, like Google and Samsung. And for years, banks have caught flack for not offering digital and mobile payments options that are up to snuff with what the tech giants have brought to market. Now, however, big banks are dusting off their old-fashioned ways and getting up to speed.
Chris Skinner
JULY 15, 2016
As mentioned, ANZ are happy keeping their 40-year old version of a system – why does that always remind me of some movie title – but it does add a final piece of perspective to this whole discussion, and it’s also something I wanted to use on the blog to keep in memory. So the oldest … The post The 40-year-old Version appeared first on Chris Skinner's blog.
Bank Innovation
JULY 15, 2016
Wealth management has historically been a good source of revenue for banks, but it carried a significant cost, too. Smaller banks, with fewer resources, often cannot afford the employees that deliver the revenue. A new deal announced this week between wealth management firm Personal Capital and BancAlliance, a network of 200 Read More.
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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.
Celent Banking
JULY 12, 2016
Banks are ultimately responsible for all of the services that they provide, even when they contract with third parties to help them deliver those services. More and smaller banks are partnering with outside providers, and there are more and smaller third parties being formed to meet more specific bank needs. While there’s even a section in the U.S.
PYMNTS
JULY 11, 2016
Will the wonders of artificial intelligence ever cease? In the last decade or so, artificial intelligence has been increasing at a dramatic clip, and software developers and programmers have developed AIs that can do everything from beating a world class chess champion to diagnosing medical conditions to moving and stacking heavy objects on a factory floor.
Payments Source
JULY 11, 2016
Amazon's Prime Day event is marketed as a summertime version of the Black Friday shopping holiday, but it also serves as a proving ground for the retailer's most experimental ways of selling its products.
Bank Innovation
JULY 13, 2016
The hot foreign exchange app Revolut has ordinary users pledging millions to its equity crowdfunding campaign. Just yesterday, the startup announced it raised a $10 million (£7.75 million) Series A funding round to facilitate the way people send and receive money globally. Of the £7.75 million, UK-based Revolut opened up £1 Read More.
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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.
Bobsguide
JULY 11, 2016
Despite being known as the world’s most volatile currency, bitcoin is now more stable than the British pound following the results of the EU referendum last month. Interest in bitcoin has grown and many are looking to trade the digital currency because it’s a safer bet in comparison to.
PYMNTS
JULY 13, 2016
Move over millennials , there’s a new kid in town that is about to become nearer and dearer to retailers’ hearts: Gen Z. Gen-Z shoppers, defined as those between the age of 14 and 19, are about to become the most coveted demographic in all of retail, according to a study entitled “The Next Generation of Retail” by retail marketing firm Interactions.
Payments Source
JULY 12, 2016
The hit smartphone game Pokemon Go is not a mobile wallet or a loyalty app, but it is arguably far more successful at driving traffic to retailers' stores than many of the apps designed for that purpose.
Bank Innovation
JULY 12, 2016
Scandals aside, Lending Club has been doing well in the area that mattered — borrowers were paying back their loans. But a new report from the Wall Street Journal indicates that chargeoff rates at Lending Club are up 38% since 2013. This is troubling because credit card default rates decreased over the Read More.
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