Sat.Sep 22, 2018 - Fri.Sep 28, 2018

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Which banks do ‘get IT’?

Chris Skinner

I’m working on my next book already. Digital Human only came out a few months ago, and here I am off already on a new one. I’m not going to share too much about it yet, as it won’t come out for two years, except to give you some clues on … The post Which banks do ‘get IT’? appeared first on Chris Skinner's blog.

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3 reasons why blockchain lacks mainstream attention

Payments Dive

There are three major problems that are keeping the blockchain out of the mainstream: poor reputation, lack of education and lack of full solutions.

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Temenos Wins Varo Money Core Business, Talks Realtime Banking

Bank Innovation

Varo Money has selected the Swiss software provider Temenos as its core for its new digital bank. The challenger bank has already received preliminary approval from the OCC on its application for a national banking charter and will begin the building out the digital bank soon. Bank Innovation has reached out to Varo Money about the launch date for […].

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Western Union Mulls Sale Of B2B Payments Unit

PYMNTS

Western Union is reportedly considering a sale of its business payments operation, unnamed sources told Bloomberg on Wednesday (Sept. 26). The sources said a deal could give Western Union a $500 million boost, and that the institution plans to start discussing a sale with potential buyers in a few weeks. They noted, however, that Western Union has not definitively decided to sell its business payments unit and that its plans remain confidential.

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The State of Automation in Financial Services 2024 Report

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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What’s your one move?

Chris Skinner

I talk about 1,000s of start-up companies doing one thing brilliantly well, and was looking for an anecdote that might help me talk about this better … and found one. It goes like this: A ten-year-old boy decided to study judo, despite the fact that he had lost his left … The post What’s your one move? appeared first on Chris Skinner's blog.

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Why Are Half of All Sales Leads at Banks Dropped?

Bank Innovation

Half of all bank leads are not followed up, and millions of irrelevant offers are mailed at great expense to people who throw them straight in the garbage. Why is this? If you ask CRMNext CEO Joe Salesky, it's because of inadequate CRMs. (In case it wasn't clear from his company's name, Salesky sells CRMs.) […].

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Why Walmart Says Blockchain Can Improve Food Safety

PYMNTS

Origins are all the rage in modern life: origin stories, family origins via DNA and digital ancestry databases. Add to that Walmart ’s latest effort to gain more grocery market share: using blockchain technology to trace the origin of the food sold by the retailer back to the farms from which it came. The idea is to introduce more transparency into the process, which could serve to prevent outbreaks of foodborne illnesses and encourage consumer trust of the grocery goods on Walmart shelves.

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How much is a FinTech CEO worth?

Chris Skinner

Good question, and it all depends on the revenue forecast. However, if you want to get an idea, a new survey from Moorlands Human Capital, an executive recruitment search and consulting company, has a view. That’s because they asked 500 FinTech companies how much they pay the CEO? And it … The post How much is a FinTech CEO worth? appeared first on Chris Skinner's blog.

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Singapore Case Study: One Wallet. Multiple Uses.

Payments Dive

This case study focuses on how Telepin was able to help a large Signapore telecommunications company provide mobile financial services to an economically diverse clientel.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Millennials Weren’t the Only Age Group in Focus At Day 2 of Finovate

Bank Innovation

The second day of Finovate Fall in NY kicked off with a socially oriented demo from Russian digital-only bank Tinkoff, which debuted a “stories” feature within its mobile app. The customer engagement and marketing tool differs from the feature available on popular social networking apps like Facebook and Instagram in that it does not have […].

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Deep Dive: Fighting Fraud With AI And Machine Learning

PYMNTS

Digital commerce channels are presenting new opportunities for bad actors, making cybercrime a colossal problem for companies of all sizes. All told, U.S. businesses and consumers lost more than $1.4 billion in 300,000-plus reported cyberattacks last year, according to the Federal Bureau of Investigation (FBI). Perhaps more troubling, however, is digital fraud’s projected future.

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Breaking through the barricades

Chris Skinner

I blog a lot about banks needing to change and adapt. I do not blog about the end of banks and I do not predict that banks will be destroyed. I do predict that banks that do not change and adapt will be destroyed, and I do predict that banks … The post Breaking through the barricades appeared first on Chris Skinner's blog.

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Podcast Episode 11: Future Trends for Mobile Payments & Banking

Payments Dive

Host Will Hernandez discusses the future trends for mobile payments and banking, that was learned at the Bank Customer Experience Summit.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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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INV Fintech Partners with Chinaccelerator

Bank Innovation

INV Fintech, this site’s sister accelerator, today unveiled a new partnership with Chinaccelerator, a leading startup accelerator in Shanghai, China. Chinaccelerator is a mentorship-driven program helping internet startups from around the world cross borders. It is run by the venture fund SOSV, which has $400 million assets under management and operates six accelerators.

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Ripple’s XRP Value Spikes While Fundamentals Questioned

PYMNTS

What can you say about a cryptocurrency that shows a meteoric rise, surging more than 80 percent in a day? That maybe … you wished you had some in hand? Beyond that, we’re talking about cryptocurrencies, so the question must be posed, as always, when separating hope from hype: Is it different this time? That means looking into not just “what” happened, but also “why” it happened.

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Are banks serious about fintech?

Chris Skinner

I’m often asked how I got into FinTech. It’s an interesting question as I’ve been involved in Finance and Technology all of my life. Back in the day, it wasn’t called FinTech. It wasn’t cool. It was just boring old tech in banking. Interestingly, for almost a quarter century, tech … The post Are banks serious about fintech? appeared first on Chris Skinner's blog.

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Fighting ATO Attacks: Protect Your Brand & Customers

Payments Dive

Online fraud is becoming more and more sophisticated. One of the results of this arms race is the recent surge in ATO – account takeover – attacks, a form of fraud which is particularly difficult to detect. In 2017, ATO led to $5.1 billion in losses, a staggering 122% increase over the $2.3 billion lost in 2016.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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UK â??concernedâ?? about Open Banking

Bobsguide

More than three quarters of the UK are concerned about sharing financial data with organisations other than their bank, according to a recent poll by market research body, YouGov. Of those surveyed, 77% said they were concerned around data sharing, with 45% saying they didn’t understand the.

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Who’s Going In The Connected Car Driver’s Seat?

PYMNTS

Before there was Alexa , Bixby , Siri and Google Assistant , there was Emma Nutt. Emma Nutt, born in 1860 in a small town in Maine, was hired by Alexander Graham Bell in 1878 to be the world’s first female telephone switchboard operator. When Bell’s invention — the telephone — was first introduced, phones were sold in pairs, and calls could be made between those two parties only.

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The Finanser’s Week: 17th September – 23rd September 2018

Chris Skinner

The main blog headlines are … Over the next decade, over $2.5 trillion will be generated by blockchain trade I just saw a report from the World Economic Forum, who estimate that over $1 trillion in new trade will be created through blockchain-based distributed ledger technologies (DLT) over the next … The post The Finanser’s Week: 17th September – 23rd September 2018 appeared first on Chris Skinner's blog.

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Merchants can use interchange’s complexity to their advantage

Payments Source

It could be tempting to pick the easiest pricing option to understand and move on. But other times, more complex pricing options can really help businesses save money, writes Angelo Grecco, chief business development officer for CardConnect.

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

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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Banking-as-a-Service (BaaS): How rethinking finance is revolutionising banking

Bobsguide

In banking today, we’re seeing a seismic shift - big banks and tech players are moving their approach from products to services. Doing so offers more flexibility, faster go-to-market agility, and a better consumer experience. “As-a-service” as we know it has already.

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Citi Virtualizes Accounts For Corporate Treasurers

PYMNTS

The latest corporate banking offering by Citi aims to virtualize treasurer accounts for more personalized, streamlined services. The bank said in an announcement Tuesday (Sept. 25) that it is rolling out Citi Virtual Accounts for institutional clients. The tool lets corporate customers segregate balances within their physical accounts into virtual ones, which can offer enhanced receivables, payments and liquidity management.

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Things worth reading: 24th September 2018

Chris Skinner

Things we’re reading today include … Barclays chair condemned after claiming many PPI claims are fraudulent Danske Bank board close to appointing new CEO: Finans Fintech pair aim to disrupt industry with investments for millennials Winklevoss crypto exchange explores UK market Revolut hedges Brexit risk with Luxembourg licence Debts, over-stretched … The post Things worth reading: 24th September 2018 appeared first on Chris Skinner's blog.

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Zelle no! Credit unions balk at joining bank-run P2P network

Payments Source

Zelle doesn't require a bank or credit union to participate in its network to allow it to receive funds; so even Zelle holdouts will see some activity on their accounts. This allows credit unions to compare members' demand to usage, and to determine whether signing up with Zelle is worth the tradeoffs.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.