Chris Skinner
JANUARY 28, 2019
I claim that most of the banks embracing true digital transformation and not just treating digital as a channel, are led by people who understand technology. They have a leadership team who are passionate about digitalisation, and see it as a core raison d’etre of the bank’s future. Not just … The post The CEO and Chair make digital banking work appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 31, 2019
Mobile point-of-sale systems are a growing consideration for retailers, but carry a number of concerns about fraud and secure payment.
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Bank Innovation
FEBRUARY 1, 2019
As consumer trust in financial apps continues to rise more customers are comfortable using mobile banking apps for complex transactions such as loan and mortgage applications: one report finds. A report released by Webpals found that out of 500 bank customers, 50 used their financial mobile apps to apply for a loan or mortgage. This number, albeit small compared to […].
PYMNTS
JANUARY 30, 2019
Stripe, the San Francisco digital payments startup, has landed a $100 million investment from Tiger Global Management, boosting its valuation above $20 billion. According to a report in CNBC , citing The Information, with the $100 million investment by Tiger Global Management , Stripe now has a valuation of $22.5 billion. It comes on the heels of Stripe raising $245 million in a Series E round of fundraising last fall.
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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
Chris Skinner
JANUARY 31, 2019
I got into one very interesting discussion with a digital banker. He was underscoring how important data is in banking, and referenced the fact that banking started with data. It started as a ledger system a thousand years ago so that pilgrims could travel to the Holy Land under the … The post Banks need to be technology giants appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
FEBRUARY 1, 2019
E-commerce giant Amazon mentioned its cloud computing platform Amazon Web Services, or AWS, 58 times, its virtual assistant Alexa 25 times, and retail just once in its earnings release for the fourth quarter of 2018. Perhaps this is an indicator of where the company sees its future growth potential? AWS sales climbed 45% year-over-year to […].
PYMNTS
FEBRUARY 1, 2019
Home improvement startup Houzz revealed that it suffered a data breach. The company said in a FAQ on its website that the breach was discovered in late December 2018, and that “a file containing some of our user data was obtained by an unauthorized third party.”. Once its security team became aware of the issue, it immediately launched an investigation with assistance from a leading forensics firm.
Chris Skinner
JANUARY 29, 2019
One of the issues I have with financial services is that it’s frightening. You might not think so, but I grew up in a world of cushioned money. I didn’t know much about money at all. The most I knew about money is begging for more pocket money. The Bank … The post Financial literacy is the scourge of our times appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 30, 2019
Andrew Barnard, Co-founder of BITSTOP demos the bitcoin ATM.
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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
Bank Innovation
JANUARY 31, 2019
Avoka, a software firm specializing in customer acquisition and onboarding, seeks to bridge a gap at retail banks and credit unions between the back office and the customer journey with the launch of its new module, Workspaces. The module is an automated digital review and approval workspace aimed at solving onboarding delays and customer dissatisfaction […].
PYMNTS
JANUARY 28, 2019
China’s startup market had a good year in 2018, with close to 100 technology companies garnering a valuation of more than $1 billion. Known as unicorns, the companies were led by eCommerce and video streaming services, the Financial Times reported, citing data from Hurun’s ranking of China’s top tech companies. According to the report, Hurun, which also produces the annual rich list for China, found there are 186 Chinese tech startups that have valuations of more than $1 billio
Chris Skinner
JANUARY 30, 2019
I often talk about changing core systems, and most people tell me I’m mad. It doesn’t have to happen. You can have an overlay of middleware to deal with it. You don’t need to change those old systems. It’s too risky and too costly. Blah, blah, blah, blah, blah. And … The post How to get rid of the legacy appeared first on Chris Skinner's blog.
Bobsguide
JANUARY 31, 2019
Digital-only challenger banks and new market entrants are vulnerable to savvy criminals looking to exploit weak anti-money laundering (AML) controls, according to John Davies, chairman on Kompli-Global and deputy chair of the Emerging Payments Association (EPA). Speaking at the launch of the.
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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.
Bank Innovation
JANUARY 28, 2019
BMO Harris Bank did itself a favor by being responsive to questions and criticism on social media from customers locked out of their digital accounts with the bank this past week, according to Adrenaline, an experience design company. The Chicago-based bank is dealing with the fallout from a glitchy launch last week of its new mobile banking […].
PYMNTS
JANUARY 31, 2019
As fraudsters become more brazen in their efforts, banks are realizing they need to do more than simply respond to suspicious activities as they find them. Instead, a deeper understanding of fraud — down to its genetic outline — is needed to be truly effective in fighting it. The new Digital Banking Tracker highlights how banks are adopting new approaches to protect their customers and clients from nefarious actors.
Chris Skinner
JANUARY 27, 2019
During the second half of 2018, we were trying to work out the future of the Financial Services Club in light of one of our founders, Andy Coppell’s retirement. We have now made an agreement with Z/Yen, the long respected City research and consulting firm, to run our operations together … The post An important announcement about the Financial Services Club appeared first on Chris Skinner's blog.
Bobsguide
JANUARY 30, 2019
Banks need to unbundle legacy IT infrastructure if they’re to take advantage of the benefits the cloud and APIs can bring, according to Danny Healy, financial technology specialist at MuleSoft. “Banks will typically layer new technology on top of what they’ve already built. This.
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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
JANUARY 29, 2019
Apple has strived to portray Apple Pay as the trusted, go-to mobile payment option for its customer base, but the company's own security problems have undermined this effort.
PYMNTS
JANUARY 27, 2019
Mastercard , the payments company, said late last week that it is still committed to operating in China. In a press release , Mastercard said that it is making every effort to secure the license to access the domestic Chinese market and confirmed it is in active talks with different solutions. Mastercard said it plans to present another application for a bank card clearing license shortly.
Chris Skinner
JANUARY 30, 2019
Things we’re reading today include … India’s largest bank SBI leaks millions of customers’ data Santander UK bank profits hit by uncertainty Taavet Hinrikus on disrupting the banks Visa profit beats estimates on higher transaction volume Barclays’ lawyers did not object to £322m fees paid to Qatar, court told So … The post Things worth reading: 31st January 2019 appeared first on Chris Skinner's blog.
Bobsguide
JANUARY 30, 2019
In the first half of 2018 the UK received record levels of investment in the fintech sector – with over $16bn investment, according to KPMG. That’s $2bn more than the amounts raised in the Americas and China, individually, and six more than the rest of Europe. But while the UK has been.
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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
FEBRUARY 1, 2019
Game day is a big day not just for athletes — anyone who sells pizza, chicken wings and beer will also win big if they have the capacity to handle all of the orders that come in. Many are turning to mobile and online technology to increase sales and remove friction from the payment process.
PYMNTS
JANUARY 31, 2019
Mastercard has released its latest report on the FinTech landscape, with analysts fixing their eyes on the small business (SMB) community to drive competition and innovation. In its “ What to watch for FinTech in 2019 report ,” developed in conjunction with CB Insights and Mastercard Start Path, Mastercard explores the role of artificial intelligence and open banking in driving the next phases of FinTech innovation.
Chris Skinner
JANUARY 28, 2019
Things we’re reading today include … Man Quits Job At Bank And Turns Up In Spider-Man Costume On Last Day Metro Bank loan blunder perplexes industry Anne Boden’s Good Bank, Bad Bank is scrapped U.S. to Huawei: Don’t Lie to Your Bank Barclays executive had sleepless nights over Qatar ‘bung’, … The post Things worth reading: 29th January 2019 appeared first on Chris Skinner's blog.
Insights on Business
FEBRUARY 1, 2019
Security. What does it mean to you? Feeling safe. Protected from threats. Guarded from attacks. Privacy. To those working in the financial services industry, security is at the core of their business. The rise of artificial intelligence and machine learning might help protect business assets, but it is also making it easier for the bad guys to find holes in the security.
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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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