Bank Innovation
NOVEMBER 3, 2017
The biggest threat for the banking sector is not fintechs. No, according to a recent report by McKinsey, that would be non-banking companies such as Amazon and Alibaba. The report refers to these companies as “platform companies” and calls them the “new heavyweight competitor(s) in town,” for the banking sector. Based on information gathered from […].
Chris Skinner
NOVEMBER 1, 2017
As Sweden was the first European country to use cash for payments back in 1661 [link] it’s unsurprising that it’s the first European country that wants to be cashless. This is why, for several years, I’ve been watching the regular speeches by Lars Nyberg, Deputy Governor of the Sweden’s central … The post Will Sweden be the first cashless country?
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Payments Dive
NOVEMBER 2, 2017
The bright lights of Las Vegas have gone out on Money20/20 for another year. As always, the event brought together the biggest names in payments and provided unprecedented insight into the future of financial services.
PYMNTS
NOVEMBER 3, 2017
It was a busy time for B2B venture capital this week, and while funding ranged across verticals from expense management to SaaS, there was a clear theme in investment rounds: high-tech data analytics. Startups deploying machine learning and artificial intelligence (AI) capabilities are focused on improving corporate processes — from identifying fraud to testing software to managing employee effectiveness.
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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
Bank Innovation
NOVEMBER 3, 2017
Singapore’s DBS Bank said it launched the world’s largest API developer platform. The platform consists of 155 APIs in over 20 categories, which includes funds transfers, rewards, and real-time payments. The bank said it will continue to add more categories as demands rise. The platform already has 50 companies using it to develop solutions.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
NOVEMBER 3, 2017
In the weeks after Mobile Payments Today asked companies to supply information for last year’s Mobile Wallet Comparison Guide, a number of events happened in the industry that created a lot of buzz. This year? Not so much.
PYMNTS
NOVEMBER 2, 2017
Google announced that it will be shutting off developer access to its QPX Express API service, which automates data for airfare search engines. According to a news report from The Verge , the move could affect third-party travel sites, such as Orbitz and Expedia. It’s also a sign that Google is becoming increasingly interested in competing with the big names in travel services.
Bank Innovation
NOVEMBER 1, 2017
The lawsuit of a small business in Massachusetts against alternative lender Kabbage is raising questions about the role of partner banks in marketplace lending, namely, whether it’s the bank or the fintech that can be called the “true lender.” The suit filed earlier this month alleges that Kabbage, together with its partner Celtic Bank (chartered […].
Chris Skinner
NOVEMBER 2, 2017
I just listened to George W. Bush being interviewed by AT&T CEO and Chairman, Randall Stephenson, and it was an interesting experience. For example, I’ve heard Bill Clinton speaking and Mikhail Gorbachev (twice), but this event was clearly far more security conscious than those. I mean we’re at an event … The post The story of George W. Bush and the two big Black Swans appeared first on Chris Skinner's blog.
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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
Payments Dive
OCTOBER 31, 2017
To nail payments and grow a global business, merchants must build payments strategies around their local customers' unique needs.
PYMNTS
OCTOBER 30, 2017
In the modern age, seemingly everything has an added dose of intelligence built into it. Phones, homes and appliances are smart, even mundane items like floss, too — but what about the cities in which people live? Most people may not associate inner-city infrastructure or gridlock with artificial intelligence (AI), but there is an effort underway from Intelligence of Things (IoT)-enabled technology providers to solve those problems — and other issues plaguing cities — with the help of smart tech
Bank Innovation
NOVEMBER 2, 2017
EXCLUSIVE– Fintech startup CreditStacks will be launching a new credit card in about two weeks that will cater to high-earning immigrants in the U.S, CEO Elnor Rozenrot said during a Plug and Play event yesterday in NYC. The product aims to provide a credit card to “premium, new-to-credit customers,” Rozenrot said. Rozenrot noted that the […].
Chris Skinner
OCTOBER 31, 2017
It is the nature of finance that, at its core, is risk. Insurance is all about covering yourself for the risk of uncertainty. You don’t know if your house will be robbed but, just in case it is, you insure it. You don’t you’ll have a car accident but, just … The post AI in banking is all about risk management appeared first on Chris Skinner's blog.
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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.
Payments Dive
OCTOBER 30, 2017
Mobile marketplace aggregators can provide consumers with a great overall experience, but only if partners can offer the same level of service.
PYMNTS
NOVEMBER 1, 2017
Two years ago, when Samsung Pay entered the mobile payments scene, it did what Apple and Android a year before it had not: It made mobile payment capabilities at the physical point of sale (POS) more or less ubiquitous right out of the gate. This new digital way to pay was made possible via technology that Samsung acquired, called “magnetic secure transmission” — MST — the very same technology that enables merchant point-of-sale terminals to accept a mag stripe card for payment.
Bank Innovation
OCTOBER 30, 2017
EXCLUSIVE—Mobile-first U.S. bank BankMobile will look to add new features to its platform through partnerships with fintechs after its merge with Flagship Bank is finished, the company told Bank Innovation. “We want to be able to partner with the best in breed, partner with other fintech companies,” Luvleen Sidhu, co-founder and president of BankMobile, told […].
Chris Skinner
NOVEMBER 3, 2017
I was thinking about this question of how to regulate global technology platforms that don’t recognise national boundaries, mainly in the context of crypto and digital currencies. How can you regulate a global currency that has no view of state or national laws? Obviously, you can only regulate it when … The post Regulating the unregulated appeared first on Chris Skinner's blog.
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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.
Payments Dive
NOVEMBER 1, 2017
This market report gives an overview of the mobile payments landscape of the Middle East and North Africa. Markets covered (by population): Egypt, Turkey, Algeria, Saudi Arabia, Iraq, Morocco, Tunisia, United Arab Emirates, Kuwait and Bahrain.
PYMNTS
NOVEMBER 2, 2017
Singapore residents will soon be able to make purchases with a prepaid Visa card backed by the cryptocurrency platform Monaco. “Our team has worked incredibly hard over the past year to achieve this milestone. This is an important step towards Monaco’s vision to introduce cryptocurrency to the mass market,” said Kris Marszalek, co-founder and CEO of Monaco, in a press release. “We believe that the Monaco card program lays solid foundation for Monaco’s growth, and we
Bank Innovation
OCTOBER 31, 2017
Japan’s is Mizuho Bank is cutting 19,000 jobs by 2027, following in the footsteps of Nordea Bank, which last week announced it was cutting 6,000 jobs by 2020. Two other major banks Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group will also be cutting jobs over the next few years. A total of 33,000 […].
Chris Skinner
OCTOBER 29, 2017
I’m involved in quite a lot of start-ups, ICOs and funds these days, and have decided to start a mini-series of interviews with them, as I think it will be of interest to readers of my blog. In the first of this series, I’m interviewing Tokenbox. Please introduce yourself and how … The post Introducing Tokenbox appeared first on Chris Skinner's blog.
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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.
Bobsguide
NOVEMBER 3, 2017
The annual Money20/20 conference in Las Vegas this year explored key themes and topics shaking up the payments industry. Highlights included keynote speeches from Dan Schulman (CEO, PayPal) and Julie Sweet (CEO, Accenture North America), track sessions exploring how the payments industry requires.
PYMNTS
NOVEMBER 1, 2017
After years of doubt, financial professionals are trusting the cloud. Research released last month by Adaptive Insights found 73 percent of surveyed CFOs trust the cloud to host their financial data today. That trust has permeated the financial services industry, too, as banks begin to migrate data and apps to the cloud and FinTechs launch entirely on cloud infrastructure.
Bank Innovation
OCTOBER 30, 2017
Australian bank Westpac has created its own line of wearable devices, under the name ‘PayWear,’ to enable ‘tap and pay’ payments for its customers. Westpac PayWear, a wrist band, does not rely on Apple or Samsung Pay, or other mobile wallets, but is rather a range of devices made by the bank itself. The devices […].
Chris Skinner
OCTOBER 28, 2017
This week was all #Money2020 … The latest on Apple Pay (#Money2020) I just attended the Money2020 opening session where Jennifer Bailey, who heads up Apple Pay, made a series of statements and announcements about the three-year anniversary of Apple Pay. Released on October 20, 2014, the wallet is now … The post The Finanser’s Week: 23rd October – 29th October 2017 appeared first on Chris Skinner's blog.
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