Sat.Sep 14, 2019 - Fri.Sep 20, 2019

The two big issues bank CEOs have with FinTech

Chris Skinner

For all the talk about how well FinTech start-ups are doing, I hear two regular laments from bank CEOs. First, why aren’t we valued like FinTechs? and second, why aren’t FinTechs regulated like us.

How U.S. retailers can benefit from strong customer authentication in Europe

Mobile Payments Today

While Strong Customer Authentication does not apply directly to U.S. merchants, there are significant implications for retailers that have operations in Europe and gaining a SCA delegation can provide significant benefits

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With Wirecard, UnionPay takes aim at Visa, Mastercard

Bank Innovation

China’s UnionPay, the world’s largest card issuer with 57.6% of the world’s payment cards in circulation, has global ambitions.

Cards 198

Burger King Now Accepts Bitcoin

PYMNTS

You want fries with that crypto? Might have to wait a bit, especially on the international stage. For some, bitcoin and cryptos — beyond a means of speculation — are a solution in search of a problem.

Corporate cloud-based payments: what’s that all about?

Chris Skinner

I was recently asked by Volante Technologies to consider what being a digital bank means, specifically for a commercial bank and, even more specifically, the bank’s payments and treasury services.

Banks struggling to maintain profits amid payments transformation: Study

Mobile Payments Today

A report by Aite Group shows that banks are struggling to turn a profit on their existing payments business, amid an industrywide transition to a real-time payments environment. Banks will be forced to make significant changes in how those businesses continue to operate moving forward

Study 198

Cross River CEO: ‘High-profile fintech folks’ interested in its real-time payments rollout

Bank Innovation

Cross River Bank, the partner bank for large fintech startups like Stripe and Affirm, is using The Clearing House’s real-time payments (RTP) network to enhance service to clients and boost its value proposition to future ones.

More Trending

Greed is good … and my bonus is better

Chris Skinner

I was a bit agog and aghast at the recent announcement from 192 US CEOs, who said that stakeholders are now more important than shareholders.

Trends 282

Decred aims to deliver decentralized future

Mobile Payments Today

Blockchain began as a tool for Bitcoin to deliver a decentralized future for the financial industry. Since then, Bitcoin has largely turned into a speculative investment and blockchain is increasingly being adopted by large financial institutions looking to boost efficiency.

How TD wants to bridge the confidence gap with AI-based tools

Bank Innovation

Canadians may accept that AI is a part of their lives, but many express concerns about the potential risks that the application of the technology presents, including biases. That’s according to a recent TD Bank survey of 1,200 Canadian adults carried out by Environics Research.

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Data Breach Leaks 198M Car Buyers’ Personal Data

PYMNTS

A massive data breach has compromised the records of 198 million car buyers. Jeremiah Fowler, a senior security researcher at Security Discovery , discovered the breach after coming across the same 413GB dataset multiple times. “It

Data 282

When digitalisation stops and humans step in, it all falls to pieces (American Express)

Chris Skinner

I saw a list on Facebook the other day about being old.

How To 280

Restoring Banking Optimism

Abrigio

Optimism hit a five-year high in 2017 among c-level executives at financial institutions, but this year, optimism took a sharp dip amidst concerns over decelerated loan growth, an uncertain economy, and higher interest rates, according to survey results by Cornerstone Advisors.

Greenlight is putting education at the core of its banking offering

Bank Innovation

Greenlight Financial, which just raised $54 million in Series B funding, is acquiring customers by pitching itself as a personal finance and banking hub for kids. Greenlight is a digital-only banking startup that is designed to teach kids how to manage their finances as they grow into adulthood.

What The Trendsetters Say About How We Will Pay Next Decade

PYMNTS

Sheep are not natural-born leaders. If they were, they wouldn’t need border collies or sheepherders to make sure that they didn’t follow wolves blindly into harm’s way and that they ended up where they needed to be at the end of the day.

Study 280

Greed is good … or is it?

Chris Skinner

There’s a comment that has stayed with me for a long time. It goes along the lines of if you’re earning $10 million a year then spending $10,000 is only the same as someone who earns $100,000 a year spending $100. It’s just relative.

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New Community Bank Sentiment Index Shows Bankers Largely Positive

Abrigio

Community bankers are largely positive about the future, based on the first results of a new index gauging business sentiment among the financial professionals who serve a critical role in local economies.

SellersFunding acquires AmzLenders in a bid to reach more Amazon sellers

Bank Innovation

SellersFunding, a Ridgewood, N.J.-based based SME lender, has acquired AmzLenders to broaden its reach among e-commerce sellers.

NJ 158

How FinTechs Help Merchants With GDPR Compliance

PYMNTS

FinTech firms are keeping a pulse on the latest regulations and helping their clients comply with them. The European Union’s General Data Protection Regulation (GDPR), for instance, went into effect last May, and penalties are just starting to be enforced.

Things worth reading: 20th September 2019

Chris Skinner

Things we’re reading today include … Changing weather could put insurance firms out of business Brexit/City jobs: iffy on the Liffey U.S.

US 217

Examiners’ Shift in Focus Calls for Institutions to Develop a Risk-Based AML Program

Abrigio

The burden of extensive regulatory exams on a financial institution’s BSA/AML program has taken its toll on the financial crimes industry for years.

Credibly teams up with Wirecard for instant funding, better customer data

Bank Innovation

Credibly, a small business lending company, is partnering with Wirecard to disburse instant funds and access businesses’ spending data. The partnership is an attempt by Credibly to grow its customer base through better offerings and better risk management.

New Report: How Consumers Use Connected Devices To Shop And Pay

PYMNTS

Voice is connected commerce’s killer app. That is just one of five critical findings highlighted in How We Will Pay 2019 , a PYMNTS, Visa collaboration examining how consumers use a wide range of connected devices to shop and make purchases.

Report 268

Things worth reading: 17th September 2019

Chris Skinner

Things we’re reading today include … How long will Jamie Dimon’s magic touch last?

Google 217

CUDL Complete Helps Patelco Navigate Processing Hurdles After Robust Indirect Volume Growth

CU Direct

The $7 billion Patelco Credit Union set lofty growth goals for its indirect auto lending program in 2017. With the help of an aggressive rate strategy, the credit union’s indirect team delivered. As of Dec. 31, 2017, the Pleasanton, Calif.-based

Grasshopper Bank CEO Erwin to speak at Bank Innovation Build

Bank Innovation

New York City-based Grasshopper Bank is building a digital banking product ecosystem for the startup community.

U.S. Bank: Machine Learning Is Banks’ Best Bet Against Fraud

PYMNTS

Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses.

Fraud 267

The Finanser’s Week: 9th September – 15th September 2019

Chris Skinner

The main blog headlines are … Elvis seen opening a bank account in Hawaii As it’s Friday, a slightly more whimsical post.

Hawaii 216

4 things FIs can do to stay ahead of fintech startups

ATM Marketplace

It seems like everyone is jumping into the financial space these days. With traditional tech and fintech startups making waves, here are four ways traditional FIs can stay relevant

United Trust Bank is using selfies for identity verification

Bank Innovation

United Trust Bank is using facial recognition technology to speed up its mortgage application process.

How US Bank Is Using Machine Learning To Tackle Fraud

PYMNTS

Mobile and online banking providers have been upping their fraud protection measures over the last decade, making it more difficult for bad actors to rely on some of the schemes that previously worked in such channels.

Fraud 266

Things worth reading: 19th September 2019

Chris Skinner

Things we’re reading today include … Cash strapped students targeted as money mules U.S.

Metro 204

It’s Not You. It’s My Line Width.

Credit Union Geek

Originally published on CUInsight.com Far be it for me to dictate your relationship with your favorite word processor. Go on, keep your margins at the safe 1 inch. It’s not as if you’re putting text there anyway. Leave line spacing at double. Since you always seem to need the room. Ignore the footer field, like […]. The post It’s Not You. It’s My Line Width. appeared first on Credit Union Geek.

Aligning with ‘leaders’: OakNorth’s Nooriala on its partnership strategy

Bank Innovation

In a bid to grow its customer base, OakNorth Bank is partnering with Smarterly, a workplace savings and investment platform, the company announced this week.

Stripe Reaches $35B Valuation With Latest Funding Round

PYMNTS

FinTech Stripe is raising $250 million in its latest funding round and has reached a pre-money valuation of $35 billion, according to a release on Thursday (Sept. 19). . General Catalyst, Sequoia and Andreessen Horowitz all participated in the round.

Things worth reading: 18th September 2019

Chris Skinner

Things we’re reading today include … Big banks score win as U.S.

How To Get Conversational For Bank Search Marketing

Banker to Banker

“What do I need to open a checking account?” and “What is the best savings account?” are two trending bank-related searches that are becoming popular. In years past, potential bank customers used to put in a utilitarian “checking account” to search banks offering checking accounts.

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