Sat.Nov 16, 2019 - Fri.Nov 22, 2019

Google, Facebook, Amazon and Co are NOT offering banking, so stop saying they are

Chris Skinner

In the last month, there’s been a wave of announcements from Facebook, Apple, Google and Amazon about banking.

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How video technology and AI are changing the way we bank

Mobile Payments Today

With technology, one plus one is often greater than two. AI and video technologies complement one another perfectly, and combining them can deliver tremendous value to any financial institution

Video 209

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The future of banking is about data-driven experiences and not products: HSBC

Bank Innovation

The bank of the future will cease to be about specific products and services. Instead, it will offer embedded “experiences” based on data the institution has on its customers, according to a report released by HSBC this month.

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Citi Launches Cross-Border Accounts Receivable Platform

PYMNTS

Citi is streamlining the cross-border collections process for its corporate treasury clients, the financial institution said Wednesday (Nov.

Relationships are hard, so how do Fin and Tech get on?

Chris Skinner

I just spent a few days in bars and restaurants in a place where everyone lives underground. It’s called Toronto. A place so cold that even Olaf from Frozen has migrated South. Anyways, sitting in a bar, I was privileged to hear this exchange between Fin and Tech.

Meeting the growing demand for mobile debit, ATM funds access

Mobile Payments Today

As consumers shift to online banking, the ATM also has been impacted by the quest to go digital. Kamesh Tumsi, VP of product strategy at Fiserv card services, gives us the scoop on the digitizing of ATM transactions

Stock trading app Invstr adds mobile classes to attract more clients

Bank Innovation

Stock trading app Invstr is rolling out a series of educational tools to make investing accessible to a wider audience. The mobile-based training program is called Invstr Academy, which launched last week.

More Trending

The future of money according to the Swiss (shhh, it’s not bitcoin)

Chris Skinner

I just saw an interesting report produced and released by SIX Group that talks about the future of money.

Balancing payment innovation and trust

Mobile Payments Today

The rise of digital payments has led to a series of complex issues surrounding how to make those transactions more secure.

CIMB Bank Philippines is using smartphone data for underwriting

Bank Innovation

CIMB Bank Philippines, a digital-only bank, is using data points from customers’ mobile phones, including the number of apps installed, calendar invites and the percentage of unread emails, to underwrite customers for personal loans.

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Why, In The eCommerce Era, Catalogs Are Cool Again

PYMNTS

While Sears Roebuck gets all the credit for inventing the mail order catalog business in the United States, in historical terms they were actually a bit late to the game.

What would you rather talk about: sex, religion, politics or money?

Chris Skinner

My blog often seems to return to the subject of sex, whether it be sexism or basic sex. It is for the reason that money and rumpy-pumpy are the twin engines powering everything we do, as Jeremy Clarkson so succinctly put it.

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The Essential Guide to Agile

Mobile Payments Today

The speed & adaptability of Agile development is no longer a competitive advantage. Per the 12th Annual State of Agile Report, 97% of companies practice Agile on some level. In spite of this positive trend, running an effective Agile development process remains very rare.

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Stash doles out 5 million ‘Stock-Back’ rewards

Bank Innovation

As cash back rewards become expected offerings among banks and financial platform companies, Stash is offering customers fractional shares of stocks as purchase rewards when they use the Stash debit card.

NEW DATA: Two-Thirds Of SMBs Say Immediate Payments Can Improve Their Cash Flow

PYMNTS

suppliers face a $3.1 trillion accounts receivable (AR) problem. That is how much their buyers collectively owe them on any given day. Waiting to receive $3.1

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Regulators: damned if they do and damned if they don’t

Chris Skinner

I was running a fun panel on regulation this week. That kind of sounds like a lie – whatever can be fun about regulation – but hey, it was. I often reflect on the fact that regulators run with their eyes in the rear-view mirror.

How retailers can fine tune the click-and-collect experience for shoppers

Mobile Payments Today

While much has been written about brick-and-mortar retailers’ continuing fight for market share with online competitors, data on continually evolving consumer preferences also demonstrates a desire by many to combine both shopping experiences. Enter: click and collect

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Facebook beefs up e-commerce capabilities with digital payment wallet

Bank Innovation

Facebook is adding a digital payment method to its platform, a move which will facilitate retail transactions, and ultimately encourage customers to stay within its ecosystem. Facebook Pay, which was announced last week, will link to most credit cards and debit cards, much like Amazon Pay and Venmo.

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Top Issuers Embrace FinTech Collaboration For Biz Card Innovation

PYMNTS

Much of what commercial card innovators seek to address is a massive pain point for adoption: supplier acceptance. Such was the strategy of JPMorgan in its latest corporate card initiative.

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Things worth reading: 20th November 2019

Chris Skinner

Things we’re reading today include … Could Metro Bank go bust?

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PayPal to acquire digital shopping and rewards platform Honey for $4B in cash

Mobile Payments Today

PayPal agreed to buy the online shopping and rewards platform in a bid to extend its services to help drive more personalized traffic towards its thousands of retail partners. Honey has helped consumers save more than $1 billion through targeted discounts and incentives

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How Gulf Coast Bank and Trust cut loan underwriting times in half

Bank Innovation

Gulf Coast Bank and Trust, a New Orleans-based bank with $1.7 billion in assets, is using automation technology to speed up loan approval times. The bank is tapping cloud banking vendor nCino to automatically pull information from tax returns when underwriting commercial loans.

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China’s Byton Gets License To Launch Electric SUV In US

PYMNTS

Chinese startup Byton announced Monday (Nov. 18) that it has secured a distributor license from California, bringing it one step closer to bringing its first electric SUV, Byton M-Byte, to the United States.

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The Finanser’s Week: 11th November – 17th November 2019

Chris Skinner

The main blog headlines are … Can you recognise a fraudster when you meet one? I’ve pointed out many times that it’s easy to scam people online and defraud them.

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Your Key to Combating Bias in AI

Mobile Payments Today

There is a lot to gain from AI, but it’s incredibly difficult to achieve AI maturity. It requires immense amounts of data and continual training of the algorithm. While you can manage this on your own, there are many issues that commonly arise during the process

BMO rolls out photo-based autopay feature

Bank Innovation

Bank of Montreal is rolling out a new feature that allows customers to pay bills without having to log into their online bank accounts. Earlier this month the bank launched BMO QuickPay, through which customers can take a picture of their bill and email it to BMO.

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Elavon Spends $300M For Sage Pay

PYMNTS

Bancorp subsidiary Elavon is acquiring U.K. payments gateway Sage Pay for $300 million, according to reports on Monday (Nov. The deal comes as Sage Pay’s parent company Sage Group said in September that it was seeking “strategic alternatives for the payments business.”

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Things worth reading: 19th November 2019

Chris Skinner

Things we’re reading today include … How To Succeed As A Challenger Bank Ant Financial May Join Race for Singapore Virtual Bank Licenses ‘Why economists get things wrong’ Sexist and biased?

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4 Challenges with Digital Payments and How to Address Them

Mobile Payments Today

To help you along your digital payments journey, here are four key challenges that you are sure to face, and the necessary steps to take when overcoming them

How To 176

Plaid expands to France, Ireland and Spain

Bank Innovation

This week, data aggregator Plaid confirmed its expansion to France, Ireland and Spain.

Obama Warns Of The Dangers Of ‘Big Disruptive’ Tech

PYMNTS

Former U.S. President Barack Obama is concerned about the impact technology can have on society. “’Big, disruptive’ information technologies can sometimes be ‘dangerous,’” Obama said during a talk with Salesforce CEO Marc Benioff.

Things worth reading: 18th November 2019

Chris Skinner

Things we’re reading today include … Google wants to launch bank accounts.

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Frost and Sullivan honored FSS with the India Best Practices Award, 2019.

Mobile Payments Today

Recently Frost and Sullivan honored FSS with the India Best Practices Award, 2019

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Weekly Wrap: Real-time payments expand, as big tech adds financial offerings

Bank Innovation

Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, November 22, 2019.

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US Faster Payments Council Expands With ACI Worldwide

PYMNTS

Membership in the U.S. Faster Payments Council (FPC) is growing with the addition of ACI Worldwide, as the electronic payments and banking solution provider announced this week. The company is joining the FPC to support U.S.

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Things worth reading: 22nd November 2019

Chris Skinner

Things we’re reading today include … Australia’s Westpac hit by Goldman downgrade over money-laundering scandal What is Westpac accused of, and how is this related to child exploitation? explainer Investors pour near $400m into African fintech What next for Europe’s banking union?

Mobile Payments, More than Just a New Way to Pay

Mobile Payments Today

In order to successfully implement mobile payments as a merchant, it is critical to understand all of the complexities that mobile payments create for a business, as well as how to mitigate them

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