Sat.Feb 09, 2019 - Fri.Feb 15, 2019

The Price Of Paying With Plastic Is Going Up

PYMNTS

The costs of using some cards is going on the incline, as news is breaking that the nation’s two largest card networks, Visa and Mastercard, are preparing to up the fees charged to merchants to accept network-branded cards.

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Podcast Episode 15: Banking on the Gig Economy

Mobile Payments Today

Joust CEO Lamine Zarrad carves out a unique space among fintechs by addressing the special circumstances of freelance workers

39 FinTech Unicorns Valued at $147.37 billion

Chris Skinner

I spotted an article by Linus Beliunas on LinkedIn this week, and liked it so much that wanted to share. Enjoy! 39 FinTech Unicorns Valued at $147.37 billion 2018 was a phenomenal year for FinTech.

GRC is front and center at IBM Think 2019

Insights on Business

Many financial services organizations are struggling to manage their risk and compliance exposure in the face of ever-increasing challenges. Massive volumes of regulations are being developed across global financial market segments.

Visa: EMV Cuts Card-Present Counterfeit Fraud By 80 Pct

PYMNTS

Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. Merchants who have upgraded to chip technology saw a decrease of 80 percent in counterfeit fraud dollars in September of 2018 when compared to September of 2015.

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Legislators move to ban cashless payments at retailers, restaurants

Mobile Payments Today

A backlash against cashless retailers and restaurants has spurred legislation in multiple cities and states to force them to accept cash payments

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The difference between machine learning and artificial intelligence

Chris Skinner

I often point to a banks’ executive leadership team and ask the question: who can tell me the difference between blockchain and distributed ledger? If anyone even goes there, I then ask them to tell me the difference between artificial intelligence and machine learning.

More Trending

XinFin Signs On To R3 Corda For Enterprise Blockchain Apps

PYMNTS

Enterprise blockchain platform XinFin is joining the R3 consortium, with the R3 Corda marketplace hosting several XinFin apps for business users, the companies said in a press release Friday (Feb.

To Lure Tech Talent, Fintechs Relocate, Pull Out Wallets and Dangle Cultural Perks

Bank Innovation

Established fintechs, startups, banks and tech giants alike are pulling out all the stops to attract and retain the same pool of tech talent.

AI, machine learning, data and Nordic banks

Chris Skinner

Last week we had our first meetings of Nordic Finance Innovation, the largest networking group in the Nordic region for people involved in finance and technology which I happen to chair. The meeting focused upon data: data usage, data analytics, data leverage and data privacy.

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The cyber security threat landscape in financial services

Insights on Business

Gary Meshell, WW Leader Financial Services, IBM Security, opened his IBM Think 2019 talk, How Financial Services Companies Should Respond to Cyber Security Attacks with a bold assertion and truism. “It’s It’s not a matter of if you will be breached, but just a matter of when,” he said. Fin ancial services firms must do more than just plan to prevent a data breach but knowing they will get breached, prepare to respond.

Could Online Intermediaries Control The Physical Point Of Sale?

PYMNTS

The year is 2039. The youngest of the bridge millennials – those 30- to 40-year-olds who today represent the first generation of connected consumers with spending power – will be having their mid-life crises at the age of 50. And the 60-year-olds will be telling the world that 60 is the new 30.

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Fintech Unfiltered: Why Developers Should Use Scala Script for Platform Building

Bank Innovation

The key benefit of using programming language Scala to build a digital platform is a feature called Type Safety. This feature enables faster testing because it supports the detection of "errors while writing the code," according to Jason Brown, CEO and co-founder of fintech Tally.

100 years of AI Life

Chris Skinner

I just picked up the London Business School’s quarterly journal, with lots of articles talking about Artificial Intelligence (AI). There are two in particular that stand out, with some interesting views.

Digitizing the flow of goods, information and money with blockchain

Insights on Business

Blockchain is one of the hottest movements in the financial services industry, but people continue to question where it exists on the hype cycle at every major conference I attend. While other companies are still defining use cases and exploring proof of concepts, IBM already has blockchain solutions in production and often encourages new clients to skip the proof of concept stage and join one of their existing networks.

Mastercard, Ripple Back Remittance Co SendFriend

PYMNTS

Remittance company SendFriend announced that it has raised $1.7 million from investors MIT Media Lab, Barclays, the Mastercard Foundation, Ripple, Techstars, Mahindra Finance, 2020 Ventures, and 8 Decimal Capital.

Fidor Teams with Finn AI to Launch AI Chatbot for Banking Clients

Bank Innovation

With plans to expand its B2B business across Europe over the next 18 months, German fintech Fidor Solutions teamed up with Vancouver-based startup Finn AI to embed a virtual assistant in Fidor’s “bank-in-a-box” product.

Is the bank talking or walking digital?

Chris Skinner

I’ve been blogging about digital transformation and one commentator asked me to qualify what I actually meant by a bank ‘transforming’ versus the others.

Address financial crime and high costs with IBM Cloud Private

Insights on Business

In the beginning of the cloud computing era, “private clouds” promised the scalability, flexibility and manageability of public clouds, combined with the security and control of on-premises data center environments. But some early private clouds, in fact, were neither private nor clouds.

FinTech Credit: Not So Clear And Present Danger?

PYMNTS

As the payments landscape evolves and becomes ever more digital in scope, and as FinTech firms make inroads into traditional financial services, regulators are looking at FinTech credit — and how it might be defined and shaped. There seem to be no easy answers on just how to regulate the space.

Let Ignite Ideas Spark Innovation at Your FI

Bank Innovation

As an executive in the ever-changing banking landscape, what separates early adopters from followers? How do innovators hone in on a specific focus when new technology darlings seem to emerge every day? And which technologies merit the most attention, resources, and time?

Things worth reading: 12th February 2019

Chris Skinner

A new digital bank needs a new customer service experience

Insights on Business

Banks continue their digital transformation journey to create new business models to satisfy today’s demanding customers. The big questions is what’s next? How do banks prepare for this new reality? For Bradesco, a large Brazilian bank, NEXT is the answer. Next is a digital bank, completely disassociated from the Bradesco brand. Next has access to all of Bradesco’s ecosystem, ATMs, call center, internet banking. They use the Bradesco infrastructure, but they operate in parallel.

The State Of Faster Payments: ‘Early Innings’

PYMNTS

The “state” of — well, anything — refers to its condition, the attributes and even the state of “mind” that denotes where we are at any given time on an endeavor. Might the state of faster payments be described as “conflicted?”.

Movers and Shakers: Notable February Hires in Financial Services

Bank Innovation

February saw the first mega bank M&A deal in a decade when BB&T announced its $28.2 billion acquisition of SunTrust Bank to create a combined entity of $66 billion. The merger, naturally, resulted in some shuffling of key executive roles.

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The Future of Fintech Video Series: Cardplatforms

Mobile Payments Today

This interview is part of a video series, “The Future of Fintech,” produced by Mobile Payments Today and powered by Galileo Processing

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Reimagining the first line of defense with next-gen GRC

Insights on Business

The global financial crisis of 2008 and 2009 brought a renewed focus on the governance, risk and compliance (GRC) processes within the financial institutions, who, not very long ago, viewed GRC as little more than a necessary evil – cost of doing business, which added little value.

Mastercard Taps Token.io For Connectivity Hub

PYMNTS

Token.io , the Turkey-based open banking platform company, announced Wednesday (February 13) Mastercard has chosen it to provide the connectivity layer for the payment company’s open banking hub.

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Is Consumer Choice as Much a Factor as Speed in Payments Innovation?

Bank Innovation

Ingo Money CEO Drew Edwards said instant availability and usability of funds is all but expected across the payments space these days, thanks largely to the success of P2P platforms like PayPal’s Venmo or bank-backed Zelle.

The Finanser’s Week: 4th February – 10th February 2019

Chris Skinner

The main blog headlines are … Is the branch dead? A regular discussion of mine has resurfaced in recent days: is the branch dead?

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Agile fraud management takes more than the right models

Insights on Business

In recent months, some prominent organizations have begun moving away from their traditional pattern of purchasing colossal, general-purpose infrastructure technology, and have begun looking towards personalized technology options.

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SAFE Banking Act Gains Cannabis-Friendly Spotlight In Congressional Hearing

PYMNTS

Legal marijuana sellers want bank accounts just like any other business. Over the last two years, more than $500 million worth of cash deposits from the legitimate cannabis business has flowed into Maps Credit Union in Salem, Oregon. But that’s the exception.

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Apple, Amazon, Alibaba Are Coming After Banks, Regulators Say

Bank Innovation

Giant technology companies are moving inexorably into the finance business and could quickly upend the banking industry, according to the financial industry’s global watchdog.

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Digicel Case Study: Mobile wallet helps reach unbanked and underbanked customers

Mobile Payments Today

The largest mobile service provider in the Caribbean and South Pacific used mobile transactions to reach unbanked and underbanked customers — Telepin was able to help Digicel reduce operational costs and increase revenue. Read the full case study to learn how

Things worth reading: 14th February 2019

Chris Skinner

Things we’re reading today include … Banks close thousands of ‘money mule’ accounts, MPs told Value of cryptocurrencies is only in the eye of holders Dark money is pushing for a no-deal Brexit. Who is behind it? |

Outdoorsy On Adventure Travelers, Driveway Surfers And Trying To Be The Airbnb For RVs

PYMNTS

Entrepreneurs sometimes see opportunity in places that are far from the hustle and bustle of city life: When spending time in San Francisco, Outdoorsy Co-founder and CEO Jeff Cavins spotted an unmet need for accommodations other than hotels or home shares in scenic destinations.

JPMorgan to Use Digital Coin to Speed Up Corporate Payments

Bank Innovation

JPMorgan Chase & Co. is turning to crypto to modernize one of its most central businesses. The biggest U.S. bank said it developed a prototype digital coin that it plans to use to speed up payments between corporate customers, according to a statement Thursday.