Chris Skinner

NOVEMBER 9, 2016

We’ve seen some pretty strong attacks on banks cyberdefences in the past year. Three major incidents in the SWIFT network; 50 at the Federal Reserve; problems at the Bank of England and many other central banks; a major incident at the Danish payment processorNETS; and big banks like HSBC and JPMorgan have all been affected. Admittedly, … The post British bank has a third of its customers’ accounts hacked appeared first on Chris Skinner's blog.

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Bank Innovation

NOVEMBER 7, 2016

From almost the very beginning, Riskalyze has had the look and feel of a winner. Which can mean only one thing for the financial services startup: The venture capitalists were circling. “We had tons of inbound emails and tons of inbound phone calls. It was constant,” Riskalyze CEO and founder Read More.

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Payments Dive

NOVEMBER 10, 2016

In Vritti Edition 6, we provide you with a rich selection of articles covering NFC, IOT, growing mobile wallet market in the Middle East and the role of mobile money in rehabilitating refugees in conflict zones.

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PYMNTS

NOVEMBER 7, 2016

The holiday season has arrived — meaning sales, snowflakes, good cheer, Christmas carols and fraudsters working day and night to break open your bank account through a variety of creative means. One of this year’s favorites so far, according to reports in The New York Times, has been fake retail and product apps popping up in the Apple App Store of late.

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Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

Chris Skinner

NOVEMBER 11, 2016

I guess in concluding this weeks’ thoughts, I’m left reflecting on a similar idea to the one I blogged a couple of weeks ago about a world turned on its head. This time it’s a different take on the same conundrum. We live in the developed economies complaining about legacy; developing economies are just excited … The post Look at financial inclusion for innovation appeared first on Chris Skinner's blog.

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Payments Dive

NOVEMBER 11, 2016

Srinivas Nidugondi, the senior vice president and head of mobile financial solutions at Mahindra Comviva, examines the state of the industry in this region of the world.

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PYMNTS

NOVEMBER 9, 2016

For some businesses, cybersecurity may be an abstract threat. Business owners may think “it won’t happen to me,” or they may be confident in their ability to remain unaffected by a cyberattack. But a new report by Accenture uncovers just how big of a threat cyberattacks are on businesses. According to the company’s latest data , released this week, about one-third of cyberattacks on businesses are successful in their attempts to infiltrate a firm’s existing defenses

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Chris Skinner

NOVEMBER 10, 2016

I consider myself a citizen of the world. I guess that’s because I fly around so much. Everywhere I go, I find the same thing. Warm, fantastic people who welcome me like a brother and complain about the idiot running their country. This is common to every country, just that some idiots are more extreme … The post Are we globalising or localising?

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Bank Innovation

NOVEMBER 11, 2016

Blockchain is at a bit of a critical point, because it’s running up against the one universal enemy all new technologies have to face eventually: reality. In reality, how will banks use the blockchain? “To do the real thing, it takes time, effort and expertise,” says Alex Wolff, head of Read More.

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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

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Payments Dive

NOVEMBER 10, 2016

Citi is the latest financial institution to come to the market with a digital wallet service.

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PYMNTS

NOVEMBER 9, 2016

In the wake of the fake account scandal at Wells Fargo, companies are rethinking how they compensate salespeople, reported The Wall Street Journal. According to a report, companies are trying to overhaul how they compensate salespeople in an effort to improve customer service and prevent the bad behavior that did Wells Fargo in. Sure, commissions can motivate people to ink deals and boost sales, but they also have risks associated with them.

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Chris Skinner

NOVEMBER 7, 2016

A final thought on the future from a banking perspective. So we will be colonizing Mars by 2040 according to Elon Musk. Why? Because this planet is not going to sustain the population it has emerging. When I was born there were half the number of people on Earth that there are today. Some say … The post A glimpse into the future, last part: space money appeared first on Chris Skinner's blog.

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Bank Innovation

NOVEMBER 10, 2016

The importance of cybersecurity, particularly to banking, is under a spotlight at the moment, as online and mobile banking users and financial consumers find themselves dealing with hacks, Trojans, and malware bots, all gaining ground in the last two months. Whenever cybersecurity is discussed, the topic of biometric authentication rises 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

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Payments Dive

NOVEMBER 7, 2016

Is it time to say goodbye to the traditional bank branch? The phrase “branch of the future” is more popular than ever and in their latest White Paper, Auriga discuss what this means exactly in the context of the reduction of the number of branches in Western Europe.

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PYMNTS

NOVEMBER 7, 2016

The U.S. Federal Reserve is turning heads for its attention to faster payments, but the Fed has recently announced yet another initiative in the payments innovation space. Last week, the Fed’s Secure Payments Task Force called for comment from industry stakeholders about what challenges they face when it comes to payments security. The task force, made up of about 160 members, will explore areas of payments security, like identity management and data protection, in hopes the survey will he

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Bobsguide

NOVEMBER 8, 2016

Cloud data vaulting services have become increasingly prevalent in the financial services market, especially with the growing digitalisation of customer transactions and low tolerance for downtime. However, are the risks posed by holding sensitive data in cyberspace being properly addressed? In.

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Bank Innovation

NOVEMBER 11, 2016

Dwolla, one of the elder statesmen of the fintech startup world, announced today it will leave the consumer space and focus on its offerings for businesses. The change will take place soon — Dec. 7. As the Des Moines, Iowa-based company put it in a blogpost: Dwolla is no longer 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.

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Payments Dive

NOVEMBER 8, 2016

Mobile Payments Today recently spoke with Samsung about everything Samsung Pay.

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PYMNTS

NOVEMBER 7, 2016

Cash may be king, but for small businesses, cash is expensive. New research from Sage finds that small businesses in the U.K. are losing out on $11.8 billion every year because of their cash transactions. Those costs can rack up in a number of ways, researchers found. For instance, nearly a quarter of small businesses surveyed by Sage said they had been the target of cash theft by a member of their own staff.

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CFPB Monitor

NOVEMBER 10, 2016

Barbara S. Mishkin. The Federal Financial Institutions Examination Council (FFIEC), whose members include the CFPB, has finalized guidance setting forth a revised uniform interagency consumer compliance rating system (CCRS). The revisions reflect changes in consumer compliance supervision since the current rating system was adopted in 1980. The other FFIEC members are the Fed, FDIC, NCUA, OCC, and State Liaison Committee.

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Bank Innovation

NOVEMBER 9, 2016

In May I wrote about The API movement in the robo-advisory space, and found that those with API offerings were companies in the brokerage business (which is severely disrupted as we speak) and not that much in businesses with robo-advisory offerings (without brokerage and custody). At the time (6months ago), I Read More.

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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.

Marketing

Payments Source

NOVEMBER 9, 2016

Small merchants need to adopt omnichannel, but it can be difficult in a low resource environment. Staying flexible to add technology fast is key.

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PYMNTS

NOVEMBER 11, 2016

In this week’s Bitcoin Tracker, bitcoin soars, then settles down and plans for its yearly sale abound. Switzerland gives bitcoin a hand by way of rail ticket machine sales, an Australian startup banks on the aptly named Dash and Zcash fervor fades. The election came and went and, with it, brought some stock market shock. First, they slid way down ( investors don’t like surprises ), then they rose back up a bit.

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Bobsguide

NOVEMBER 7, 2016

In an industry where technology is celebrated, humans are becoming unnecessary. As their roles in the finance can now be done by systems, many banks have implemented these systems and in turn, fired many employees. However, others think that we are not yet at a stage of fintech evolution where we.

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Bank Innovation

NOVEMBER 9, 2016

This week is all about the impact of Open APIs on Finance, what we call the Programmable Bank. This is part of a series where we look at the impact of different disruptive technologies on Finance. In the past we have covered Blockchain, Artificial Intelligence, Regtech, Chatbots, XBRL and Wearables. API stands 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.

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