Bank Innovation
NOVEMBER 16, 2017
EXCLUSIVE—With individual stock ownership in decline, the number of apps and services seeking to bring in new investors is increasing. Many of these startups are adding new features, promotions, and courses to entice users, but one startup, Dublin-based company Rubicoin, is keeping a more simplistic approach as it expands its service to the U.S. “The […].
Chris Skinner
NOVEMBER 16, 2017
I regularly talk about BBVA (Spain) and DBS (Singapore) as banks that are doing the right things for digital transformation. They both started early, have a leadership team who are committed and have been driving down this road with results. Results in terms of awards and recognition within the technology … The post Does digital transformation actually matter?
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Payments Dive
NOVEMBER 14, 2017
When considering a partner in the journey to reshape a bank's corporate and digital strategies, you need to ensure they are experienced, prepared, and committed for whatever may come their way.
PYMNTS
NOVEMBER 14, 2017
The U.S.’s first new payment and clearing system in more than 40 years is up and running. At 4:59:40 p.m. on Monday, $3.50 was moved between accounts at two different banks (there was only one customer with two bank accounts) via RTP, the name for a new “Real-Time Payments” system set up by The Clearing House. All in all, the transfer took three seconds — as opposed to the hours or days more typically associated with an ACH transfer.
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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 16, 2017
Singapore is offering a $19.9 million grant to banks in order to promote artificial intelligence and data analytics projects, as proposed by Ravi Menon, managing director for the Monetary Authority of Singapore (MAS) yesterday. The grant, called the Artificial Intelligence and Data Analytics Grant, will be reserved for financial institutions based in Singapore.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
NOVEMBER 17, 2017
Understanding the potential of blockchain and decentralized applications begins with asking the right questions about what they're for and what gives them value.
PYMNTS
NOVEMBER 17, 2017
American Express is the latest financial company to become a member of RippleNet, the blockchain network operated by Ripple that provides real-time, business-to-business (B2B) global payments. On its website , Ripple said American Express joins Credit Agricole, Airwallex and Cuallix, among others. According to Ripple, American Express FX International Payments will partner with Santander U.K. to create a transaction channel between the U.S. and U.K. for the first time.
Bank Innovation
NOVEMBER 13, 2017
EXCLUSIVE – British bank Barclays is teaming with fintech startup Flux in a trial that allows users to view digital itemized receipts in real-time. The trial will take place on the Barclays’ Launchpad App, the platform the bank uses to test new features. About 10,000 Barclays Launchpad users will participate in the trial; if successful, […].
Chris Skinner
NOVEMBER 13, 2017
Many people delight in digging up a quote from Bill Gates in the 1990s, when he was talking about banks as dinosaurs and famously stated: “we need banking, but we don’t need banks anymore”. Yay! We can stuff the horrible big, bad banks and replace them with lovely tech. Interestingly, … The post Bill Gates is wrong 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
NOVEMBER 16, 2017
A new feature within the bank's mobile app is more about customer control than payments.
PYMNTS
NOVEMBER 14, 2017
A new report by business banking market research and analysis firm East & Partners suggests corporations aren’t opposed to changing banks as a direct result of new FinTech solutions businesses want to use. Researchers announced East & Partners’ new report, “Financial Technology and the Corporate,” on Monday (Nov. 13). In a survey of corporate treasurers and CFOs at top corporations around the globe, 13 percent said they had already partially or totally switched their financia
Bank Innovation
NOVEMBER 14, 2017
The real-time payments system created by The Clearing House, owned by U.S. banks, is officially up and running as of yesterday, according to the banks. BNY Mellon and US Bank carried out the first transaction of the RTP (short for real-time payments) network at approximately 5pm yesterday, moving $3.50 USD through two different accounts — […].
Chris Skinner
NOVEMBER 17, 2017
There are two big tech topics in banking these days, namely Artificial Intelligence (AI) and Blockchain. These two tech titans are changing the back office of banks into intelligent shared structures that will be mind-blowing a decade from now. In fact, they’re not far off that today. I’ve written a … The post Old John Cryan had some code, AI, AI, Oh!
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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.
Bobsguide
NOVEMBER 15, 2017
Humans are social creatures. We crave interaction and attention. We like to be treated as individuals and not as “a number” For example, you feel better when you are recognised at your favorite restaurant or when you are addressed by your name when flying on a plane or when a hotel.
PYMNTS
NOVEMBER 15, 2017
Wells Fargo Advisors and the Securities and Exchange Commission (SEC) reached a settlement this week resolving charges that the bank dropped the ball in reporting suspect activities pertaining to money laundering for several years. According to a MarketWatch report published Tuesday (Nov. 14), though broker-dealers are required to file suspicious activity reports (SARs) to the U.S.
Bank Innovation
NOVEMBER 14, 2017
The finance landscape is witnessing some significant changes and disruptions due to fintech companies, blockchain technology, and AI. Innovation in this highly regulated field is necessary, and even giants are rising to the challenge and trying to get more customer-friendly, agile or at least aligned to the new standards set by start-ups. Here is a […].
Chris Skinner
NOVEMBER 14, 2017
OK, so I said earlier this week that I normally get asked about security by someone who is threatened by the onwards march of digitalisation. Sure, security is important, and the issue is that for every step of innovation we create a step of risk. We don’t know the risks … The post Kim Jong-un isn’t that clever … is he? 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 Source
NOVEMBER 14, 2017
There's talk of a bubble, but cryptocurrency creates value in different ways, so traditional market analysis doesn’t work, writes Mariam Nishanian, a representative for Dentacoin.
PYMNTS
NOVEMBER 15, 2017
Fashion retailer Forever 21 revealed that it has suffered a data breach at some of its stores. According to news from Fortune , customer payment card information was compromised at certain point of sale devices in stores when the encryption on those devices was not operating. The company, which operates more than 815 stores in 57 countries, did not say which specific locations were affected.
Bank Innovation
NOVEMBER 14, 2017
EXCLUSIVE–Just having a mobile app is no longer a differentiating factor for consumers when it comes to picking a bank, but that doesn’t mean consumers aren’t searching for a unique mobile banking experience. However, for those regional banks or credit unions without the assets of a Bank of America or JPMorgan Chase, providing a tailored […].
Chris Skinner
NOVEMBER 12, 2017
This week’s main blog headlines are … The ten-year ticking timebomb I’ve been saying for so long now that banks need to replace core legacy systems that I’m boring myself, but here I go again. The reason I’m talking about it again is that, even though some disagree and think … The post The Finanser’s Week: 6th November – 12th November 2017 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.
Payments Source
NOVEMBER 15, 2017
Fintech startup Payrailz is positioning itself firmly in the "invisible" payments market that's taking shape in the e-commerce and mobile app business. Only in Payrailz's case, it's making a direct appeal to smaller banks that may have the greatest need to update their tech.
PYMNTS
NOVEMBER 16, 2017
Wells Fargo Chief Financial Officer John Shrewsberry said at an industry conference on Wednesday (Nov. 15) that he isn’t concerned consumers are having a tough time paying back their debts. According to news from Reuters , Wells Fargo ’s Shrewsberry said that banks are being competitive in getting consumers to use their credit cards but that easy access to credit hasn’t led to meaningful credit card defaults yet.
Bank Innovation
NOVEMBER 17, 2017
EXCLUSIVE – Contactless payment capabilities are now available on wearable maker Garmin International’s latest smartwatch. Today Garmin International, along with payment technology provider FitPay, said that its payments feature, called Garmin Pay, is now live on Garmin’s smartwatch Vívoactive 3. Whether the announcement, which comes just in time for Black Friday, will help lure buyers […].
Chris Skinner
NOVEMBER 12, 2017
Things we’re reading today include … 3,000 potential conflicts of interest at Bank of England Robots Could Replace 48,000 Employees At This Bank $1.89 trillion: Foreign bank lending to China hit a record high in 2017 Metro founder Vernon Hill celebrates a full year of profits and 1.1m accounts Wall … The post Things worth reading: 13th November 2017 appeared first on Chris Skinner's blog.
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