Sat.Oct 19, 2019 - Fri.Oct 25, 2019

Why decentralised currencies are a PEST!

Chris Skinner

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. Political, Economic, Social and Technological change.

IBM OpenPages with Watson named one of 2019 Gartner Peer Insights Customers’ Choice

Insights on Business

This is a great moment for IBM. IBM OpenPages with Watson has been named one of the 2019 Gartner Peer Insights Customers’ Choice for Integrated Risk Management Solutions.

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Chime outages illustrate complexities of digital banking

Mobile Payments Today

Chime Bank is recovering from its third system outage since July, and this most recent incident is serving as a wake-up call for many in the industry about the vulnerabilities of managing critical financial services in a digital-only environment

The banking revolution: Adapt or be left behind

Bank Innovation

Over the past 10 years, the landscape of the financial services industry has dramatically evolved. Technology and the rise of fintechs have called into question almost every traditional banking model, requiring banks to either adapt or be left behind.

Google versus Government

Chris Skinner

I’ve been noticing that there are more and more issues arising with the big internet giants. Unlike in China, where the companies are working with governments, the big Western giants work outside government control.

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Creating a Customer-Centric, Digital Financial Institution

Abrigo

A farmer, a university student, and a business owner walk into a bank. It sounds like the beginning of a joke, but for many community financial institutions, a spectrum of different customers and banking needs is something that they see every day.

More Trending

Why some consumers are wary of open banking

Bank Innovation

Open banking, or the practice that lets banks securely share account data with third-party apps through application programming interfaces, is often heralded as the future of banking.

What’s the latest on #Brexit in banking then?

Chris Skinner

I’ve avoided any commentary on Brexit in recent times, as it seemed to be going nowhere. Finally, just ten days before deadline, the House of Commons voted that a deal could be done … just not in the deadline given. So, it now looks like 31st January, 2020. Maybe.

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How The UN And A Chocolate Startup Are Using Blockchain Tech To Make Sustainability Sticky

PYMNTS

There is no shortage of products designed to appeal to conscientious consumers, or marketing terms aiming to draw them in.

Zuckerberg faces grilling as skeptical House panel hears case for Libra digital currency

Mobile Payments Today

Facebook chairman and CEO Mark Zuckerberg endured withering and often painful questioning as he tried to convince House members that the effort to develop Libra into a global digital currency could provide significant benefits to millions of underbanked consumers

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Santander rolls out payments solution for North America

Bank Innovation

Santander Bank has rolled out Santander Cash Nexus, a payments tool solution for the bank’s commercial, corporate and investment banking clients in North America.

The Digital Corporate Bank, Part Two: Real-time Payments

Chris Skinner

Following on from the discussion of payments in the cloud, I was recently asked by Volante Technologies to consider what being a digital bank means for a commercial bank’s payments and treasury services and identified three areas of focus: moving payments to the cloud; fast-tracking real-time / instant payments adoption; … The post The Digital Corporate Bank, Part Two: Real-time Payments appeared first on Chris Skinner's blog. Grid Payments

How FinTechs Enable Split-Tender Transactions With Loyalty Points

PYMNTS

FinTech firms are keeping a pulse on how merchants retain their customers — and how they can help them with those strategies through technology.

ATMIA CEO sees cash remaining critical as financial institutions embrace digital

Mobile Payments Today

ATMIA CEO Mike Lee sits down at ATMIA Europe in Rome for a conversation about the war on cash and the future of mobile banking, bitcoin and ATMs

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To grow deposits, digital isn’t enough: Forrester

Bank Innovation

Despite the vast improvements banks have made to online account opening processes, most consumers are still turning to branches to open new accounts, a recent Forrester Research study observed. According to a Forrester Research study released Wednesday, 71% of U.S.

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For Whom The Tweet Chimes: the problems of being cloud native and open

Chris Skinner

Banks are control freaks. I’ve blogged about that often. I’ve also blogged often about how they need to move to be open and partnering. That’s not easy. It’s obviously easier to launch a brand new bank, fresh with no legacy and open to everything, isn’t it? Not necessarily so.

Mastercard Institutes Criteria For Data Privacy

PYMNTS

Mastercard is introducing a Data Responsibility Imperative to spark a conversation with other companies about data security, Mastercard said in a press release on Oct. Mastercard wants organizations to work together to heighten privacy and fend off cyberattacks.

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How Great Bank Brand Stories Are Built

Banker to Banker

BANK MARKETING Few bankers doubt the power of great storytelling. Instead of advertising, many banks have evolved into showcasing a customer, employee, or creative narrative that walks the reader to some point of conflict and then tells of a resolution.

Amex taps Nova Credit’s tech to underwrite immigrants to the U.S.

Bank Innovation

American Express is using credit reporting startup Nova Credit‘s technology to underwrite newcomers to the U.S., the companies announced Friday. With no financial history in the U.S., newcomers face difficulties accessing credit. American Express claims to be the first U.S.

The Finanser’s Week: 14th October – 20th October 2019

Chris Skinner

The main blog headlines are … Talking ’bout my generation I was reflecting on things again. Dangerous. My reflection was on when I grew up. My mum and dad went through the second world war. They feared for their lives and for our future.

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Western Union Broadens Real-Time International Payments To India

PYMNTS

Cross-border payments firm Western Union is advancing real-time money transfers to customers in India, the company said in a press release on Friday (Oct.

Cyber Complications for Vendor Risk Management

Abrigo

The following article was first published in ABA Banking Journal on October 17, 2019. In a marketplace where data is shared and distributed at record speeds, third-party or vendor risk management is a challenge for most businesses. The banking industry is no stranger to this.

The banking experience in which your financial institution should invest for growth

Bank Innovation

Across the U.S., banks and credit unions continue to face digital disruption. As mobile banking usage surges, branch visits continue to decline. A BI Intelligence study found that mobile banking is nearing ubiquity, with usage topping in at 83 percent.

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Things worth reading: 24th October 2019

Chris Skinner

Things we’re reading today include … Facebook’s Zuckerberg grilled over Libra currency plan Is Facebook’s Libra doomed?

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Ten Years Of Payments Innovation And Reinvention

PYMNTS

The mood in the air at the start of the 2010s was different from the one that preceded the start of the 2000s. The shift from 1999 to 2000 was (mostly) a joyous and cheerful environment.

E-Commerce Merchants: A Hot Commodity in the Dark Web

Abrigo

Dark Web | 5 minute read Key Takeaways Cybercriminals are now targeting e-commerce merchants with malware attacks. Merchants of all sizes are being targeted. Financial institutions should be proactive with their fraud prevention on the dark web. . The New Frontier on the Dark Web.

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Citi promotes Jane Fraser, sets stage for first female bank CEO

Bank Innovation

Jane Fraser ascended to the No. 2 job at Citigroup, putting her in position to succeed chief executive officer Michael Corbat and become the first woman to lead a major U.S.

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Things worth reading: 23rd October 2019

Chris Skinner

Things we’re reading today include … Morgan Stanley elbows out rivals for plum role in $1.5

Mastercard To Host SMB Summit For Women Entrepreneurs

PYMNTS

Mastercard is celebrating National Women’s Small Business Month by gathering it’s Women’s Business Advisory Council for a retreat and launching its first ever Small Business Summit in New York City. Small Businesses are the heart of the nation.

Cyber Complications for Vendor Risk Management

Abrigo

The following article was first published in ABA Banking Journal on October 17, 2019. Cybersecurity | 4 minute read Key Takeaways Third-party/vendor risk management is becoming increasingly challenging with more cloud-based providers.

Luge Capital’s Gillani: Canada is becoming a test market for fintech founders

Bank Innovation

Luge Capital, a fintech venture capital firm based in Toronto and Montreal, serves a growing ecosystem of startups north of the border. This week, it closed a C$85 milion ($65 million) fund for fintech and AI solutions.