Chris Skinner
AUGUST 28, 2019
I often say that blockchain is one of the most complex areas, combining all we don’t know about technology with all we don’t understand about finance. It’s a big hole of acronyms, confusion and debate. Some things that claim to be blockchain don’t use blockchains, and some blockchains claim not … The post Who needs a blockchain? appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 30, 2019
Customer journeys can take different turns we make getting to their destinations easy! Design and deliver memorable customer journeys with a knowledge-powered omnichannel customer engagement hub.
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South State Correspondent
AUGUST 28, 2019
MANAGING BANK CULTURE AND PROFITABILITY Given that strategic planning season is upon us, one key affirmation is to verify if you are targeting not the customers that you have now but the customers that you want. Chances are, at least at some level, you are attracting the wrong customers that are not profitable, not engaged, not being a raving fan, causing some level of pain, or all four.
Bank Innovation
AUGUST 26, 2019
This is the second article in a two-part series on bank-fintech collaborations based on the 2019 State of Banking Innovation Survey, a study conducted by Bank Innovation and INV Fintech. While banks are pushing for more fintech startup collaborations, new data shows that working alongside startups can uniquely “bridge” the fintech gap for financial institutions.
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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
AUGUST 28, 2019
When did you last write a check (cheque)? When did you last receive one? Although a valid payment mechanism in some countries, it has been phased out in many. Finland stopped using checks in 1993, Poland in 2006 and the Netherlands from the start of next year. These days, in … The post America: a nation living in the 20th Century 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.
South State Correspondent
AUGUST 28, 2019
BANK TECHNOLOGY INVESTMENT Back in the 1980s, there were more banks, smaller banks, and little technology. We were still driving checks around, there was no online banking, and networked ATMs was the latest in bank technology. At the time, the rule of thumb for bankers was that each bank employee produced about $20,000 of operating profit per year. Since each bank had about 100 employees, operating profit was about $2mm per community bank.
Bank Innovation
AUGUST 28, 2019
Fresh off a $260 million Series E funding round, card issuing and processing startup Marqeta is building its team as it expands to new geographies. The Oakland-based company plans to add 175 jobs this year, bringing its total to 400 employees by 2020, CEO Jason Gardner said on Wednesday. Gardner told Bank Innovation that Marqeta […].
Chris Skinner
AUGUST 25, 2019
I often talk about the business model of a bank (or any business) being made up of three major parts: A back office that manufactures the product and administers the service; A middle office where the infrastructure is built to connect the back and front office; and A front office … The post The economics of the network appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 27, 2019
The ability to pay bills in real time is leading to major changes in how consumers and companies manage cash flow, expenditures and payment methods. Companies that fail to keep pace, may find themselves well behind the competition in terms of maintaining key relationships.
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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
PYMNTS
AUGUST 26, 2019
This week marked a historical milestone that many Americans probably missed in the course of trying to follow a news cycle that is always full, to say the least. This week an American citizen’s bank account was hacked. From space. The story, admittedly, is a bit less exciting than the setup makes it sound; it is not the case that E.T. has picked up a bad bitcoin habit and turned to a life of cybercrime to support his cryptocurrency speculating addiction.
Bank Innovation
AUGUST 29, 2019
New York City commuters this week will have their first exposure to European banking brand N26 through ads posted on subway cars. The Berlin-based company launched its mobile banking product to U.S. customers this summer, and it’s using a traditional ad campaign — on subways, taxis and buses — to build brand recognition among U.S. […].
Chris Skinner
AUGUST 30, 2019
After yesterday’s article about how backward America is, in terms of payments, there’s a useful article talking about how they’re trying to rectify this. Bearing in mind that the big American banks are all spending $10 billion plus each on technology, they should be updating, and CB Insights latest installment looks … The post Where Top US Banks Are Betting On Fintech appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 30, 2019
If Artificial Intelligence (AI) for the overall business is a red-hot topic in C-suites, AI for customer engagement and contact center customer service is white hot. No wonder professionals, who had removed AI from their resumes, are scrambling to add it back in!
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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.
PYMNTS
AUGUST 26, 2019
The phenomenon of payments fraud is not a modern one — far from it. But as RL Prasad, SVP of payment system risk at Visa , told Karen Webster in a recent conversation, what is new today is the who and the how of fraud, particularly in a digital world. As for the who, Prasad told Webster that there are still plenty of attacks perpetrated by the more professional organized crime-modeled hacker gangs that are behind massive breaches that capture the headlines.
Bank Innovation
AUGUST 27, 2019
With the acquisition of fairr on Tuesday, German savings and investment startup Raisin is adding pensions to its financial product toolkit. Fairr adds a new component to the company’s financial “cockpit” approach to money management, as well as a technology and team boost for Raisin as it moves into new product areas. Terms of the […].
Chris Skinner
AUGUST 27, 2019
I got an interesting graphic from RBS/NatWest who surveyed their customers about what they’re saving for. The interesting result is the dichotomy between the regions, where it shows that Southern British are saving to buy a house whilst Northerners, Scots, Welsh and Irish are all taking holidays. Something about how … The post Do you have a savings goal?
Payments Dive
AUGUST 30, 2019
Based on our experience in enabling smart, connected, multichannel journeys for leading enterprises around the world, we have identified 10 steps for success.
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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.
PYMNTS
AUGUST 25, 2019
The 2019 Kansas City Federal Reserve’s annual symposium gathered the top monetary policymakers worldwide to kick around ideas to topple the dollar’s power, Bloomberg reported Sunday (Aug. 25). The Jackson Hole, Wyoming, conference was comprised of current and former central bankers, including Bank of England Governor Mark Carney , who has challenged the dollar’s position as the world’s reserve currency.
Bank Innovation
AUGUST 26, 2019
This is the second article in a two-part series on bank-fintech collaborations based on the 2019 State of Banking Innovation Survey, a study conducted by Bank Innovation and INV Fintech. While banks are pushing for more fintech startup collaborations, new data shows that working alongside startups can uniquely “bridge” the fintech gap for financial institutions.
Chris Skinner
AUGUST 24, 2019
The main blog headlines are … Are humans really needed for banking? I enjoy being around bankers who have been immersed in the industry nearly all of their lives and hearing their war stories. I heard two stories recently from a retiring banker, and thought it worth sharing to show … The post The Finanser’s Week: 19th August – 25th August 2019 appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 30, 2019
eGain Knowledge+AI reduces unnecessary handset exchanges and saves millions of pounds
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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.
PYMNTS
AUGUST 30, 2019
Here’s a thought as the unofficial end of summer draws near and a new decade looms: Pay more attention to Vietnam. No doubt you already are, but maybe pay even more attention, especially to get a better sense of how digital and mobile payment and commerce trends are playing out in one of the fastest-growing economies in the world. In a new PYMNTS interview with Karen Webster, Ryan Frere, the vice president of global payments at Flywire , made one of the latest cases we’ve heard about why Vietnam
Payments Source
AUGUST 28, 2019
There are at least 250,000 software companies around the world that have the potential to become electronic payments companies, writes Infinicept's Todd M. Ablowitz.
Ron Shevelin
AUGUST 26, 2019
It's possible that Uber wants to be the USAA to its target segment of financial services customers.
Banking Exchange
AUGUST 25, 2019
Understanding how AI is Transforming the Financial Ecosystem Bank Performance Technology Retail Banking Financial Trends Tech Management Mobile Online Outsourcing/Cloud Big Data Profitability Feature3 Fintech Customers Feature.
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