Bank Innovation
APRIL 27, 2018
Singapore is taking another step towards cementing itself as the top fintech hub in the world. Today the Intellectual Property Office of Singapore (IPOS) said it would speed up the patent granting process for fintechs in the country. Singapore, according to a Deloitte study, ranks first along with London, among 44 hubs across the globe. […].
Payments Dive
APRIL 26, 2018
Of the 2,000 U.S. adults surveyed, mobile banking app use ranked third (31 percent) behind only social media (55 percent) and weather apps (33 percent), respectively.
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Chris Skinner
APRIL 24, 2018
Another conversation about Open Banking, and an interesting point was raised by one bank. They said that they had been mapping financial moments – getting married, buying a house, having a baby, crashing your car, etc – and had started to reimagine the whole customer experience in those moments using … The post The bank’s view of Open Banking appeared first on Chris Skinner's blog.
PYMNTS
APRIL 24, 2018
Companies recognize the need for IoT security, but few are acting on those concerns. According to a recent survey, 97 percent of respondents said an attack on unsecured devices would be devastating to their organizations. However, less than a third are actually vigilant about monitoring for third-party related risks. Despite the security risks, the popularity of IoT seems unlikely to abate.
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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
APRIL 23, 2018
Bank P2P service Zelle is having some issues with fraud, with some customers reporting that hackers, exploiting weaknesses in the platform, had cleaned out their bank accounts: even if those customers had never used, or head of Zelle, according to a New York Times report this weekend. With thousands of new users signing onto the […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
APRIL 24, 2018
There’s a quote I’ve stolen off John Oliver that bitcoin combines everything you don’t understand about finance with everything you don’t understand about technology. It’s a great line, and considering banking and technology are probably some of the most complicated things in our world, one that hits the nail on … The post Why techies laugh at finansers and vice versa appeared first on Chris Skinner's blog.
PYMNTS
APRIL 27, 2018
In many businesses, acquiring customers used to be a function of where the business was located — a high traffic intersection for a convenience store or a well-heeled mall for a clothing retailer. Technology, of course, changed all that. It’s also made the offering of subscription services a robust channel for a business to operate in. By one measure , subscription company websites have seen visitor growth of over 800 percent since 2014.
Bank Innovation
APRIL 24, 2018
EXCLUSIVE - Known as one of the first technology companies in Europe to procure a German banking license, solarisBank has lofty ambitions for 2018. That plan, according to Timo Weber, VP of strategy and internationalization, is to add 50 more partners over the course of the year. “A big part of our effort this year […].
Payments Dive
APRIL 27, 2018
Julian Wallis, the retail director at Rambus, believes better value-added services can help retailers reverse declining revenue growth.
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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
Chris Skinner
APRIL 23, 2018
Over the weekend, I received a couple of interesting emails about things happening in Asia. The first is a translation of an announcement from the People’s Daily, the most official newspaper of the Chinese Communist Party, discussing digital currencies. The article is fairly high level and makes no commitment to … The post Digital smartphone banking is used by 97% of Asia’s developed market consumers appeared first on Chris Skinner's blog.
PYMNTS
APRIL 23, 2018
Brick-and-mortar retail has spent the last decade building bridges to the digital world so a new generation of digital consumers can move fluidly between them. What’s been largely left behind, however, is a payments experience that moves just as seamlessly between those worlds. There have been many attempts to bridge the gap, but consumers haven’t really taken the bait.
Bank Innovation
APRIL 26, 2018
Nymbus, a startup taking on what is arguably banking’s biggest problem — aging, outdated cores — announced a new product today called SmartLaunch, which “enables financial institutions to stand up a turnkey digital brand under their existing charter in as few as 90 days.” This is an interesting move from Nymbus. Rather than converting an existing […].
Bobsguide
APRIL 23, 2018
The world of consumer banking is becoming more democratic, as the old banking powers begin to lose their grip and their monopolies. The latest Open Banking regulations have signalled a subtle shift in the world of consumer banking. New competitors are being allowed to compete in a.
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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.
Chris Skinner
APRIL 25, 2018
Banks are trusted guardians of our money. As long as our money is safe, then we trust them. It’s when our money is breached or lost that banks misbehave, which is why the 2008 financial crisis was so concerning. The run on Northern Rock and Bear Stearns were terrible moments … The post What is the worst thing a bank can do? appeared first on Chris Skinner's blog.
PYMNTS
APRIL 24, 2018
It’s time for retailers to stop looking at brick-and-mortar like it’s dying. Traditional retail is changing, it’s true – and that has manifested as a fair amount of growing pains – but the perception that physical retail is a sinking ship may be leading merchants astray. Perhaps it’s better to think of modern retail as a chrysalis. Traditional retail was the caterpillar, inching along slowly but steadily, and somewhere ahead lies the magnificent butterfly of omnichannel, experiential, contextual
Bank Innovation
APRIL 24, 2018
Royal Bank of Scotland will launch a new mobile bank and plans on moving one million of its NatWest customers to there, according to Forbes. NatWest Bank is a fully owned subsidiary of RBS. NatWest, formally called National Westminster Bank, currently has about 7.5 million retail customers. How RBS will determine which customers get moved to […].
Payments Source
APRIL 23, 2018
When offered in a fair and transparent manner, DCC provides real value and benefit to both the cardholder and the merchant striving for new ways to remove friction and improve their customer service experience, writes Mark Horwedel, CEO of the Merchant Advisory Group.
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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.
Chris Skinner
APRIL 21, 2018
The main blog headlines are … Digital banking? Isn’t that just an app? I meet a lot of senior executive teams of large banks. Some are visionary, many are committed and a large number understand that life is changing. Few understand how. I talk to them about the fintech world … The post The Finanser’s Week: 16th April 2018 – 22nd April 2018 appeared first on Chris Skinner's blog.
PYMNTS
APRIL 25, 2018
Authorities shuttered one of the largest cyberattack organizations in the world yesterday, making arrests in four countries and seizing assets and infrastructure in three others, the Associated Press reported. Europol, a joint European police agency, said it shut down webstresser.org, calling it the largest source of distributed-denial-of-service (DDoS) attacks.
Bank Innovation
APRIL 24, 2018
Bank HSBC is now live on SWIFT gpi, the payments service meant to enhance cross-border payments around the globe, the company announced today. While 160 banks are signed up for the payments service, HSBC marks “nearly” the 50th bank to start sending payments live, according to SWIFT. Over 90% of all payments on the gpi […].
Bobsguide
APRIL 24, 2018
SWIFT has recently announced the extension of its global payments innovation (gpi) real-time payments tracker function to all (ie non-gpi) payment instructions, in an attempt to cement their position in the correspondent banking landscape. Hailed as a “game-changer” by Lars.
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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.
Chris Skinner
APRIL 22, 2018
Things we’re reading today include … Zelle, the Banks’ Answer to Venmo, Proves Vulnerable to Fraud Bank of England ‘dangerously ill-equipped’ for next recession, says IPPR Barclays boss Jes Staley faces £1m hit after hunt for whistleblower Mifid II rules failing investors, warns City veteran TSB customers report online problems … The post Things worth reading: 23rd April 2018 appeared first on Chris Skinner's blog.
PYMNTS
APRIL 26, 2018
The U.K. is only weeks away from bringing its Global Data Protection Regulation (GDPR) rules into effect, and corporates are ill-prepared for the data security requirements, according to new research. Law firm McDermott Will & Emery collaborated with Ponemon Institute to assess how U.K. businesses are getting ready for GDPR to take effect on May 25.
Bank Innovation
APRIL 25, 2018
One of the U.K.’s largest banks, Barclays plc, has partnered with American payments company PayPal to provide Barclays customers the ability to use their Barclays products in PayPal’s digital wallet to make online payments. The partnership will also allow U.S. consumers to redeem Barclays reward points at merchants accepting PayPal. Another important aspect of this […].
Bobsguide
APRIL 23, 2018
At the end of last year the Basel Committee on Banking Supervision (BCBS) announced the final rules that completed the Basel 3 reforms. Basel 4 - as the latest incarnation has since become known as - was presented at the time by Mario Draghi as “the end of the game” A key objective.
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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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