Sat.Oct 26, 2019 - Fri.Nov 01, 2019

Rebeca Romero Rainey: Embrace the opportunity

Independent Banker

“A plethora of new digital payments offerings now must factor into business strategies.”. As Winston Churchill said, “To improve is to change; to be perfect is to change often.” That sentiment rings true for digital payments.

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Things worth reading: 1st November 2019

Chris Skinner

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Chime outage highlights the importance of real-time feedback for startups

Bank Innovation

Digital-only challenger bank Chime‘s recent outage may have riled many customers on social media, but the company’s real-time response to the crisis ensured damage to the brand was nipped in the bud.

Effective Loan Pricing – Why It’s Imperative Now More than Ever

Abrigio

Loan Pricing | 7 minute read Key Takeaways Financial institutions' net interest margins face a nasty squeeze, but a number of factors can contribute to lower yields on loans. Financial institutions have options when net interest margins are squeezed.

Chime, Varo, Grasshopper executives say digital banks see continued growth

Mobile Payments Today

The Gruffalbank

Chris Skinner

My children are big fans of The Gruffalo. If you’re not familiar with The Gruffalo, it’s the story a mouse who might get eaten by threatening creatures like a Fox, an Owl or a Snake, but makes up a fictional character who could actually eat them instead.

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VyStar Credit Union taps Zest AI for instantaneous loan decisions

Bank Innovation

VyStar Credit Union is using Zest AI’s underwriting technology to speed up its loan assessment processes. Through Zest’s tools, the Jacksonville, Fl.-based

More Trending

Chime, Varo, Grasshopper executives say digtal banks see continued growth

Mobile Payments Today

Things worth reading: 31st October 2019

Chris Skinner

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Goldman hands out $10b in credit lines for Apple card

Bank Innovation

Goldman Sachs Group Inc. leaders have been coy about backing up their recent assertion that the Apple Inc. card is the industry’s most successful credit card launch ever. Regulatory filings this week offer a first glimpse into the numbers that had the bank gushing.

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The Thomson Reuters and IBM Exclusive Breakfast Briefing, Oct. 2, 2019 in Toronto

Insights on Business

How do compliance professionals manage more than 57,000 regulatory alerts in one year? IBM OpenPages with Watson recently had the opportunity to join host Thomson Reuters for a morning of regulatory compliance thought leadership to explore this very topic.

How banks can ensure high availability for today’s technology

Mobile Payments Today

The need for high availability in banking systems is clear, and has become even more of a priority in a more digitally focused environment where a 24/7 service and instant payments are a minimum requirement rather than an added bonus

PSD2, Open Banking and Beyond

Chris Skinner

I’ve a number of great friends in the industry, and enjoy their company and contribution. One of those friends is Gijs Boudewijn, Chair of the Payment Systems Committee at the European Banking Federation who kindly quoted me in his recent presentation on Open Banking.

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Weekly Wrap: Big tech makes moves in financial services, as Ally bets on VR

Bank Innovation

Welcome to the latest episode of our weekly wrap video series, for the week ending Friday November 1, 2019.

IBM Algo FIRST becomes IBM FIRST Risk Case Studies

Insights on Business

In the continued evolution of the IBM Governance Risk and Compliance (GRC) product line, I am pleased to announce that effective today, Algo FIRST (FIRST) is rebranded to IBM FIRST Risk Case Studies.

CECL Extensions One Step Closer to Final Approval

Abrigio

CECL | 6 minute read Key Takeaways The FASB affirmed plans to extend deadlines for CECL implementation; a final vote is expected in November. The board will monitor whether it has divided the two adoption-date buckets in the most appropriate way.

Some banks get IT

Chris Skinner

I’m acutely aware that so many people write and talk about how big banks are dumb and stupid and don’t get digital, that I try to avoid that mantra personally.

Google, Walmart help drive India payments past 1 billion transactions

Bank Innovation

A payments platform created by India’s largest retail banks surpassed a billion transactions in October, a milestone that affirms the tremendous growth of services offered by U.S. giants from Walmart Inc. to Amazon.com Inc. and Google.

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Artificial Intelligence: How AI is changing the banking industry

Mobile Payments Today

Artificial Intelligence (AI) in banking can be used to establish more meaningful conversations with customers by solving real problems and managing finances

The Thomson Reuters and IBM Exclusive Breakfast Briefing, Oct. 2, 2019 in Toronto

Insights on Business

How do compliance professionals manage more than 57,000 regulatory alerts in one year? IBM OpenPages with Watson recently had the opportunity to join host Thomson Reuters for a morning of regulatory compliance thought leadership to explore this very topic.

Things worth reading: 30th October 2019

Chris Skinner

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Credit startup Zero’s ‘debit-style credit experience’ expands

Bank Innovation

San Francisco-based credit startup Zero is taking its debit-style credit model to Android. Bryce Galen, CEO and co-founder of Zero, told Bank Innovation the launch is evidence of the growing demand for “financially responsible” credit cards.

Contactless cards driving move away from cash in UK

Mobile Payments Today

Graham Mott, head of strategy at Link, which oversees the U.K.'s s network of ATMs, believes that contactless cards are behind the globe's shrinking reliance on cash

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Plumb, level and square: Check that you’re a digital bank

Accenture

The old adage in carpentry is to measure twice and cut once. Scale your project to the size of a skyscraper and 90-degree corners and true horizontal planes are critical to enduring structural integrity.

Things worth reading: 29th October 2019

Chris Skinner

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The Clearing House: FedNow could create ‘bifirucation’ in real-time payments

Bank Innovation

The Clearing House launched its real-time payments (RTP) network two years ago with the goal of bringing instantaneous payments to financial institutions in the U.S. So far, more than half of the transaction accounts in the U.S. are on it. The goal is to reach all accounts by 2020.

Uber unveils Uber Money to improve driver benefits, reward loyalty

Mobile Payments Today

Uber unveiled Uber Money, a series of credit and debit producs that will provide additional benefits to drivers and incentives to encourage customer loyalty and financial wellness among employees and upping the market share game against rival Lyft

A Day In The Life Of The Bridge Millennial

PYMNTS

After three years of intensive research into the connected shopping habits of more than 5,000 U.S. consumers, PYMNTS published its third annual How We Will Pay Study in September, in collaboration with Visa. We tracked how consumer shopping habits have evolved with the release of new technologies.

Legacy systems … isn’t ‘legacy’ what you leave behind AFTER you’re dead?

Chris Skinner

Last week I blogged about Chime’s issues with their third party partner Galileo going down, blocking payments and cards for their five million users for a short time.

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Digital financial services to generate $38b in southeast Asia, study finds

Bank Innovation

Digital financial services from lending to asset management are expected to generate at least $38 billion of annual revenue across Southeast Asia by 2025, more than tripling from $11 billion in 2019, according to a new study by Bain & Co., Google and Temasek Holdings Pte.

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Valyou Case Study: On a mission to empower migrant workers

Mobile Payments Today

Find out how with the first year of their platform launch, Valyou saw 66% growth in their customer base, and now entering its third year of operation, has never had a moment of downtime

Moody’s Predicts Difficult Retail Landscape, Lowers Profit Forecast

PYMNTS

A new report by Moody’s Investors Service predicts that growth for retailers will slow due to the costs of integrating eCommerce with brick-and-mortar operations as well as increasing price wars between companies, according to a report by CNBC.

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McKinsey reckon banks are in a ‘do-or-die’ moment … really?

Chris Skinner

A few talking points last week, but two hit me in particular. The first is a McKinsey report that reckons half of the world’s bank are not viable. Their cost of equity is higher than their return on equity. Should another downturn hit … well, they’re gone.

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Become raises $12.5m to be the ‘Expedia of small business lending’

Bank Innovation

Small business lending marketplace Become announced Tuesday that it raised $10 million in Series A capital to grow its platform. Benson Oak Ventures and Magenta Venture led the round, while RIO Ventures Holdings, iAngels and Entrée Capital participated. Viola Credit provided an extra $2.5

How retailers use AR, VR and 3D to enhance product visualization

Mobile Payments Today

Augmented reality (AR), virtual reality (VR), and 3D product visualizations can help e-commerce retailers enhance the customer experience, increase sales and decrease returns

MoneyGram Sees US Headwinds, Eyes Growth With Ripple And Digital Biz

PYMNTS

MoneyGram International posted results Friday (Nov. 1) that missed expectations and sent the stock tumbling, but the firm noted that progress is being made in its digital transformation. Revenues of $324.5 million were off by 6.5 percent year on year, and missed expectations by $9.8 million.

The Finanser’s Week: 21st October – 27th October 2019

Chris Skinner

The main blog headlines are … Why decentralised currencies are a PEST! Sometimes you debate stuff and a realisation comes. I had one of these today. When futurists talk about the future, they generally based their opinions on forces of change, known colloquially as PEST.

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