Sat.Jul 20, 2019 - Fri.Jul 26, 2019

How to make a small island a big centre for FinTech

Chris Skinner

One of the discussions at the UN meetings was around SIDS, the Small Island Developing States. I didn’t know much about SIDS but, when investigating further, discovered I did. They range from islands like Belize and Puerto Rico to Mauritius and Barbados to Bahrain and Singapore.

Why the insurance industry has fallen behind on the digital highway

Mobile Payments Today

Insurance companies face some of the same challenges as incument players in the finance industry, yet have been slow to adopt to the needs of consumers in an increasingly digital-first environmnent

Apple Credit Card With Goldman Sachs On Track For August Release

PYMNTS

Despite some hiccups along the way with Goldman Sachs, the Apple credit card is on track for an August release, according to a report by Bloomberg. The collaboration between the two companies was sometimes tense and the stakes were high if it wasn’t successful.

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PayPal: 15m Venmo users engaged in ‘monetizable transactions’

Bank Innovation

PayPal is continuing along its path to monetize Venmo’s 40 million-strong user base. On Wednesday, the company said 15 million Venmo users engaged in monetizable transactions.

Sustainable finance for sustainable abundance

Chris Skinner

Talking of Long Finance (see last week’s updates on sustainable finance), there’s some really interesting publications from the group that runs this program, in partnership with the Financial Services Club. This builds on the work of the Long Now.

Groups 281

Fiserv set to close First Data blockbuster, reports solid Q2 earnings

Mobile Payments Today

Fiserv is on track to close its massive $22 billion acquisition of First Data as it reported solid earnings during the second quarter. The company sees solid gains in its P2P business and expects contactless to gain acceptance with banking customers

Report 169

US Reps, Senators Present Faster Payments Legislation

PYMNTS

To reinforce the Federal Reserve’s authority to create a real-time payments system and mandate that the Fed brings about its own process, two U.S. representatives and two U.S. senators have introduced the Payment Modernization Act of 2019.

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More Trending

How to stay awake in meetings

Chris Skinner

A long while ago, I had an early start to get to a meeting. Leaving home before sunrise, I went from subway to train to taxi, and arrived bright eyed and bushy tailed. However, as the day went on, my battery started to run dry.

Expanding the Brick-and-Mortar Footprint with Kiosks and Automated Retail

Mobile Payments Today

Interactive kiosks and automated vending solutions are driving the future of retail, and connectivity is the fuel making it happen

Retail 153

Senators Move To Keep Export-Import Bank Alive

PYMNTS

lawmakers submitted a bill to Congress Wednesday (July 24) in an effort to reauthorize the nation’s Export-Import Bank for the next decade.

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Why OceanFirst vets all job candidates for video conferencing skills

Bank Innovation

OceanFirst Bank is seeing more consumers and businesses choosing to interact with the bank via video and, as a result, it is preparing for a future when bankers will be comfortable working in that channel. The Toms River, N.J.-based

Video 158

Is there any way to change the status quo?

Chris Skinner

No, I’m not talking about Francis Rossi but the issue of how to achieve sustainability. This came up during a lunch, where my lunch colleague had picked up on my discussions of sustainable finance, and started to debate how we could change things.

How To 264

PayPal lowers annual revenue forecast amid integration issues

Mobile Payments Today

PayPal lowered its annual revenue forecast amid delays in integrating certain new partnerships

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Japanese FinTech Rakuten Applying For US Banking Charter 

PYMNTS

A Japanese FinTech company is applying for a banking charter in the United States, according to a report by American Banker.

Utah 254

How Finfit is building out its financial toolkit for hourly and other workers

Bank Innovation

The field of fintech companies focusing on people who live paycheck to paycheck continues to grow, with Virginia Beach-based Finfit picking up $7 million in Series B equity funding on Friday. Galaxy Investments and Bison Investments participated in the round.

Things worth reading: 24th July 2019

Chris Skinner

Things we’re reading today include … Of course, Jeff Epstein moved his dirty money through Deutsche Bank … where else?

Course 242

Shape Shifting: Future Trends Transforming Online Payments

Mobile Payments Today

A rapid transformation is at play in the world of digital payments. FSS examines key trends reshaping online payments

Trends 151

New Mobile Healthcare Efforts Point To Wider Payment Trends

PYMNTS

Slowly but steadily, healthcare is becoming more mobile about payments, and that trend – a very long time in coming – appears to have picked up steam in recent months.

Trends 255

Inside Marqeta, the payments engine behind the challenger banks

Bank Innovation

Card issuing and processing startup Marqeta may not have picked the sexiest part of the payments ecosystem to disrupt, but it’s looking to catch the same wave as challenger banks and fintech lenders that are raking in funds by the hundreds of millions as they expand into new geographies.

Things worth reading: 23rd July 2019

Chris Skinner

Things we’re reading today include … UBS posts surprise second quarter profit boost What’s the best way to stay awake in meetings?

Again, IBM in the “Leaders” quadrant of 2019 Gartner Magic Quadrant for IRM

Insights on Business

An innovative solution for IRM, recognized by analysts. Security and risk management professionals within financial organizations can be overwhelmed with the rising cost and pressure of regulatory change management and mitigating associated risks.

Can Elon Musk Turn The Human Brain Into A Connected Device?

PYMNTS

It can never be said that Elon Musk has a problem thinking big. That can be seen from his early days as one of PayPal’s primary architects to the present day, when he divides his attention between a mission to space, solar energy and electric cars.

MoneyLion to use $160m funding to add savings, stock trading products

Bank Innovation

Personal finance app turned challenger bank MoneyLion, which has more than 5 million users, is seeking to lock in customers through a host of new financial services.

BlackRock’s BS … and other stories of sustainable finance

Chris Skinner

A big area of debate in banking that has been around since the 1990s is how to make banks more accountable for sustainability. I talk about this a lot these days as 71% of all Green House Gas (GHGs) emissions emitted on planet earth since 1988 came from just 100 … The post BlackRock’s BS … and other stories of sustainable finance appeared first on Chris Skinner's blog

How To 223

It takes two: People and performance analytics for sales compensation

Insights on Business

Sales compensation dashboards are common, but they usually tell only half of the story. Two sides to your dashboard are available that can lead to growth: productivity metrics and people metrics, and looking at only one side gives you only half the picture.

 Payments Fraud, Via Apps?

PYMNTS

Apps with a possible security flaw, a malware phishing scheme and possibly, payments fraud, all done in the blink of an eye?

Fraud 255

Game on: Investment app Invstr uses Fantasy Finance to build young user base

Bank Innovation

The next generation of stock traders could be coming into the world of investing by way of gaming. Stock trading app Invstr‘s gamified approach to investing is helping it reel in millennial and Gen Z customers.

Things worth reading: 25th July 2019

Chris Skinner

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How To Give Borrowers 30 Years of Amortization In 25 Years

Banker to Banker

LOAN STRUCTURING HACKS One battle currently waged in the banking industry is amortization terms and interest-only (IO) periods. Borrowers often have legitimate needs to extend the principal repayment on term loans to 30 years.

Phishing Remains A Persistent Problem

PYMNTS

Because of the huge number of emails sent daily – by some estimates, 3.7 billion people send around 269 billion emails every single day – this type of online communication is vulnerable to phishing attacks.

Weekly Wrap: Payments industry under scrutiny as Venmo, Zelle adoption grows

Bank Innovation

Welcome to the latest episode of our weekly wrap video series, for the week ending July 26, 2019.

The Finanser’s Week: 15th July – 21st July 2019

Chris Skinner

The main blog headlines are … The UN’s SDG’s, FinTech and Banking Due to various connections, I was asked to deliver the opening keynote speech at the United Nations High Level Political Forum last week (some coverage here).

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Step Aside, Millennials — Why Fintechs Are Targeting Baby Boomers & Retirees

CB Insights

Fintech is often associated with digital tools targeted at tech-savvy millennials. But there is a growing market of fintech companies serving the unique financial needs of Baby Boomers and older retirees — and for good reason. get the REPORT on next generation investors.

Deep Dive: How APIs Can Help Drive Faster Payments

PYMNTS

Financial players worldwide are kicking payment systems into high gear with efforts that range from easier-to-use digital solutions to new instant payment infrastructures. Roughly 40 countries had real-time payment systems in place in 2018, and many more are currently working to provide them.

Three key takeaways from Facebook’s payments efforts

Bank Innovation

To get a snapshot of Facebook‘s payments ambitions, you need to look beyond its digital currency aspirations.

Pivoting relationship managers to a new model (Podcast)

Accenture

Why analytics platforms are failing your Data Scientists

Dataconomy

With a saturated analytics and business intelligence (A&BI) market, why are we still struggling to make analytics platforms work for Data Scientists? And perhaps more importantly, why are we failing to see a return on our expensive Data Science initiatives?