Chris Skinner

FEBRUARY 25, 2020

I know a few of you have spotted that I have a regular theme these days about sustainable finance, purpose-driven banking, the climate emergency and more. It’s a reflection of the world at large and how people like Greta Thunberg and Sir David Attenborough are making our views of the … The post Customer and employee activism will change banking even if the banks don’t want to change appeared first on Chris Skinner's blog.

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Abrigo

FEBRUARY 27, 2020

Key Takeaways Financial institutions who want to maintain a healthy share of business lending this year and through potentially tougher economic times ahead want to be in the best position possible before trouble hits. Abrigo's Business Lending Readiness Survey found many processes stymie those efforts. At most banks and credit unions, for example, staff re-enter the same data point between 1 and 5 times.

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PYMNTS

FEBRUARY 27, 2020

A quick glance at the workforce of 2020 doesn’t immediately present itself as all that different from the workforce of the year 2000. The major professions remain the same — doctors, lawyers, bankers, accountants, stock brokers, academics, teachers, consultants, software programmers, etc. The trades are mostly familiar — electrical, carpentry, plumbing, welding, etc.

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Payments Dive

FEBRUARY 25, 2020

Intuit announced its highly anticipated $7.1 billion acquisition of Credit Karma, a move that will create a personal finance powerhouse that can help financial institutions create targeted product offers for users of the platform.

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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

Lending

Chris Skinner

FEBRUARY 27, 2020

Really interesting interview with Garry Kasparov in Wired magazine about the potential of artificial intelligence (AI) in the future. Garry Kasparov is perhaps the greatest chess player in history. For almost two decades after becoming world champion in 1985, he dominated the game. Then, in 1997, at the height of … The post “I was the first knowledge worker whose job was threatened by a machine” appeared first on Chris Skinner's blog.

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Technology 531

South State Correspondent

FEBRUARY 24, 2020

THE BANK CONTENT MARKETING HACK Banks that complain about not doing enough in marketing or not having a big enough budget may just not be taking the right approach. We rarely see a bank fully utilize their content. If done right, you can get at least five times the conversions for almost the same expense as you spend now. What bank wouldn’t want five times the loans, deposits, or fees?

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Payments Dive

FEBRUARY 25, 2020

Shares of the fast casual chain were down sharply in pre-market trading after the company missed revenue estimates, reported weaker same-store sales and warned that the conversion to exclusive food delivery through Grubhub was being rolled out on a market-by-market basis.

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Chris Skinner

FEBRUARY 23, 2020

I was quite relaxed about the coronavirus thinking it would blow over (no pun intended). Yet, as the days and weeks went by, it’s obviously a lot more serious than first thought. I first thought, Oh, it’s Wuhan. It’s not over here. It will sort itself out. Then we had … The post Coronavirus: what it means for trade and finance appeared first on Chris Skinner's blog.

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Bank Innovation

FEBRUARY 25, 2020

LenderClose, a platform that consolidates data sets for loan underwriters, is using a new round of funding to more than double its team by the end of the year. The company announced the round last week, and although it is still finalizing the amount with investors, founder and CEO Omar Jordan estimated the funding at […].

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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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PYMNTS

FEBRUARY 26, 2020

A big change is coming to Mastercard , which will soon be marking the end of an era as its longtime CEO Ajay Banga departs from the role of CEO and moves on to the role of Executive Chairman, a position now held by Richard Haythornthwaite, on Jan. 1, 2021. Haythornthwaite has served as chairman since May 2006 and Banga has served as CEO since 2008 — when he took over the helm shortly after the onset of the financial crisis.

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Payments Dive

FEBRUARY 28, 2020

California Tortilla and Qdoba have launched mobile app upgrades.

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California Mobile 269

Chris Skinner

FEBRUARY 24, 2020

I guess my discussions of purpose-driven banking are growing. Maybe I just picked up the vibe or created it, but more and more I’m seeing bank CEO’s talking about purpose. Tom Blomfield, CEO and co-founder of Monzo, in Wired magazine: “Why do companies even exist? What are we here for? … The post Purpose? We need actions, not words! appeared first on Chris Skinner's blog.

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Bank Innovation

FEBRUARY 24, 2020

Arthur Levy, vice president of business development at Brex, is attending Bank Innovation Ignite in Seattle, which takes place from March 2-3. He is speaking on a panel titled “How to make SME banking innovation work,” which will focus on small business products, payments and underwriting. Levy is in charge of partnerships, channel and rewards […].

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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.

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PYMNTS

FEBRUARY 26, 2020

PYMNTS recently spoke with Saqib Sheikh, global head of SWIFT’s ISO 20022 program, to learn more about SWIFT’s commitment to assist the financial community in the transition to the new standard in cross-border payments: ISO 20022. Cross-border payments are a fragmented space with disparate standards, service levels, and compliance and reporting regulations varying from country to country.

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Payments Source

FEBRUARY 23, 2020

There's been a lot of interest in using blockchain, the distributed ledger technology developed for bitcoin, to modernize payments and banking systems. But as with any technology, blockchain is only secure if its users can be trusted.

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blockchain Bitcoin System Security 156

Chris Skinner

FEBRUARY 26, 2020

There’s a growing lament amongst the few, who are worried our analogue world is crumbling around them. They see the loss of bank branches, high street shops, use of cash and such like as the end of their world. They hate the idea of electric self-driving cars and mourn the … The post Nostalgia ain’t what it used to be appeared first on Chris Skinner's blog.

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Bank Innovation

FEBRUARY 26, 2020

The parameters around how consumer financial information should be shared with third-party apps and platforms was the subject of debate at an industry forum organized by the Consumer Financial Protection Bureau in Washington, D.C., on Wednesday. While data aggregators and bankers participating in the forum agreed on the principle that consumers should have the right […].

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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.

Lending

PYMNTS

FEBRUARY 23, 2020

JPMorgan Chase is taking steps to open a digital bank in the U.K. by the end of the year. The banking firm has been talking with London regulators about the idea, according to The Financial Times on Saturday (Feb. 22). The operation will likely include savings and lending products, and it comes just two years after U.S. bank Goldman Sachs launched a digital bank called Marcus in the U.K.

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Bobsguide

FEBRUARY 27, 2020

In 2019, it was clear that regulators overall had become much better at parsing the differences between cryptocurrency and blockchain and, increasingly, the difference between permissioned and permissionless blockchains, an even less acknowledged and understood distinction.

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cryptocurrency blockchain Regulation 153

Chris Skinner

FEBRUARY 24, 2020

Things we’re reading today include … UBS releases diversity figures for Americas staff US hedge fund calls for Prudential breakup as it takes near-$2bn stake Barclays/Jes Staley: Europe’s last investment banker British fintech Revolut hits $5.5 billion valuation after funding round Mastercard says coronavirus to hit first-quarter revenue JPMorgan Chase … The post Things worth reading: 25th February 2020 appeared first on Chris Skinner's blog.

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Bank Innovation

FEBRUARY 28, 2020

TD Bank’s digital strategy is showing results. The bank said it’s investing heavily in digital channels, making it the largest digital bank in Canada. TD noted that, according to App Annie data, the bank is ranked No. 1 in consumer adoption, engagement and satisfaction among top retail banks in Canada. The bank saw a net […].

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Digital Strategies Strategy Digital Banking Retail 293

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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.

Lending

PYMNTS

FEBRUARY 28, 2020

To explore the positive impacts of blockchain on small businesses, the U.S. House of Representatives Committee on Small Business plans to hold a hearing next week. Witnesses scheduled to appear include PopCom CEO Dawn Dickson and Ownum CEO Shane Bigelow, as well as Jim Harper, a visiting fellow for the American Enterprise Institute, and Marvin Ammori, general counsel for Protocol Labs, Yahoo!

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Payments Source

FEBRUARY 28, 2020

With the world gripped in panic over the rapid spread of the coronavirus — and the stock market falling in response — payments companies have been left to speculate on what it all means to their operations in an increasingly global economy.

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Chris Skinner

FEBRUARY 26, 2020

Things we’re reading today include … B-Social raises £7.8m to become a fully licensed bank Swedish fintech Klarna posts first ever annual loss StanChart posts strong results but coronavirus, economic headwinds to hamper profit growth BCR’s £120m handout to Metro bank has turned out to be a colossal waste Lloyds, … The post Things worth reading: 27th February 2020 appeared first on Chris Skinner's blog.

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Bank Innovation

FEBRUARY 27, 2020

Afterpay’s efforts to embed itself in the U.S. retail ecosystem are showing results. The point-of-sale lender announced this week it has more U.S. customers than customers in New Zealand and in Australia, where it is headquartered. This is the first time since the company’s 2014 launch that its U.S. customer numbers have outperformed other markets. […].

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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.

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