Sat.Dec 08, 2018 - Fri.Dec 14, 2018

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Compliance will kill the bank

Chris Skinner

I was talking with a banker at a recent conference, and was surprised by his attitude. He’s not worried about Amazon, Google or Alibaba; he’s not concerned about FinTech start-ups, Revolut or Monzo; he doesn’t really care about Open Banking and software; as for machine learning, artificial intelligence (AI) and … The post Compliance will kill the bank appeared first on Chris Skinner's blog.

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Putting modern payment technologies to the test

Payments Dive

Automated testing is an increasingly important consideration as payment providers, retailers and other companies expand the number of options that consumers and merchants can use.

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Amex Touts Success In Ripple Cross-Border Payments Pilot

PYMNTS

In a renewed show of support for blockchain technology , American Express General Manager of Corporate Payments Carlos Carriedo has suggested that its pilot tests with partner Ripple to enable real-time cross-border corporate payments have been a success. Reports in Invest In Blockchain on Tuesday (Dec. 11) said Carriedo spoke at the Wings of Change Europe conference and emphasized American Express’ interest in blockchain technology. “Blockchain is absolutely an option we’re

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Fintech Unfiltered: Inside HSBC Bank USA’s Lofty Innovation Strategy for 2018 [Podcast]

Bank Innovation

As a part of its retail transformation strategy, HSBC Bank USA spent over $130 million on innovation projects in one year on its U.S. operations. These projects range from less visible, but equally important, system upgrades on the back-end and more visible ones like installing Softbank’s robot Pepper in its New York flagship. The bank […].

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Open Banking: Strategy and Presentation

Chris Skinner

I haven’t given away my slides and presentation for a while, as it’s part of my unique armoury, but I’m bored with my latest slide deck so here it is. ? Open Banking Strategy and Business Model from Chris Skinner And just in case it doesn’t make sense, here’s a … The post Open Banking: Strategy and Presentation appeared first on Chris Skinner's blog.

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How 5G Will Shake Up Banking and FinTech?

PYMNTS

Financial institutions are in the midst of becoming more mobile, with many of those legacy operations opting to — or at least considering — working more closely with FinTech providers to upgrade services, retain customers and acquire new ones. The debut of 5G promises to add another tool that can aid such efforts. As that mobile technology get closer to mainstream introduction, the potential 5G ecosystem for FinTech and mobile banking is gaining clarity.

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Silicon Valley VCs Boost South Korean Fintech Toss to Unicorn Status

Bank Innovation

Viva Republica, the operator behind digital wallet Toss, became South Korea’s latest unicorn after an influx of $80 million announced this week put the valuation of the company at $1.2 billion. The Seoul-based startup’s latest round of funding, led by Silicon Valley VCs Kleiner Perkins and Ribbit Capital, comes as it prepares an expansion into […].

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Are you pulling my blockchain?

Chris Skinner

I just gave a presentation on blockchain. I haven’t been asked to make a specific presentation on blockchain for over a year, so it meant dusting off some rusty notes and slides and thinking about where we are today. I know that last year, I spent most of the year … The post Are you pulling my blockchain? appeared first on Chris Skinner's blog.

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EasyPark & Fortumo case study: carrier billing for mobile parking

Payments Dive

This case study looks at how Europe’s leading provider of digital parking services EasyPark implemented Fortumo’s carrier billing platform to collect payments from drivers.

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The State of Automation in Financial Services 2024 Report

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

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SWIFT CEO To Step Down In June

PYMNTS

SWIFT announced Wednesday (Dec. 12) that the company’s Chief Executive Officer Gottfried Leibbrandt has informed the board that he plans to leave the company at the end of June. In a press release, SWIFT noted that Leibbrandt has been in his job for seven years and played an important role in ensuring SWIFT remained on sound financial footing, improved upon SWIFT’s risk and security functions and oversaw the overhaul of technology at the company.

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How Cloud Technology Can Transform a Bank’s Customer Relationships

Bank Innovation

What is the best way to make solutions for the fintech sector meet the high requirements of challenging customers, especially while every bank is rushing towards digitization? The answer to this question is to act on the newest trends and broaden institutional horizons regarding new facilities like cloud solutions. Ever-newer technologies are currently presented by […].

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When does digitalisation stop?

Chris Skinner

Another day and another discussion about digital transformation with a group of bankers. As the conversation progressed, several of the attendees touched on a subject in different ways but the core of what they were asking was this: when will we know we’ve done digital? I find this question quite … The post When does digitalisation stop? appeared first on Chris Skinner's blog.

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The Future of Fintech Video Series: Paysafe

Payments Dive

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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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Report: 91 Pct Of Retailers Aren’t PCI Compliant

PYMNTS

With retailers struggling to get compliant with the Payment Card Industry Data Security Standard , qualified security assessors are going to be in more demand and can offer tokenization as one way of achieving compliance. That’s according to TokenEx , which recently hosted a webinar to help retailers better understand tokenization. In a press release, TokenEx pointed to a new analysis by SecurityScorecard that shows the alarming rate at which retailers aren’t prepared.

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Bank of America Redesigns App for iPad

Bank Innovation

Bank of America has redesigned its mobile app for the iPad. The new tablet design now mirrors the look and functionality of the BofA iPhone mobile banking app. Tablets find themselves in a unique position somewhere between desktop and mobile, and even though banking-via-tablets does not have the number of users that its smartphone counterparts […].

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Things worth reading: 12th December 2018

Chris Skinner

Things we’re reading today include … Need a bank to send money abroad? It’s faster to take a suitcase of cash on a plane At this new online banking platform, customers are the owners Westpac shareholders hit bank with first strike against executive pay Bank stocks get crushed as the … The post Things worth reading: 12th December 2018 appeared first on Chris Skinner's blog.

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The Future of Fintech Video Series: Greenlight

Payments Dive

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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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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BBVA, Porsche Complete $170 Million Loan With Blockchain

PYMNTS

One of the largest banks in Spain, Banco Bilbao Vizcaya Argentaria (BBVA), has completed a $170 million (€150 million) loan with Porsche Holding using blockchain technology, according to a report. Although the bank has completed blockchain loans before, it’s never done it with a non-Spanish customer, until now. One of the bank’s previous blockchain loans was completed with state-owned and -operated national electrical grid operator Red Eléctrica de España (REE) for $150 million in November.

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Major Moves from Plaid, Remitly and Good Money Just This Week

Bank Innovation

It's been a busy week in the fintech space and it's only Tuesday. On the heels of such announcements as South Korean fintech Toss achieving unicorn status and Cross River Bank raising another $100 million (technically last week, but still fresh in mind) come three more big moves. 1. Plaid Plans to Grow Team, Operations […].

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As we raise one, raise all

Chris Skinner

I just got back from Russia recently where I was interviewed by one of their leading journals. The journalist had read Digital Human, and took a very Russian take on it. His first question was along the lines of: if we are automating so much, then the people who own … The post As we raise one, raise all appeared first on Chris Skinner's blog.

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Artificial Intelligence is a game-changer, but are you AI-ready?

Insights on Business

At the October Money 20/20 in Las Vegas, Yousef Hashimi, Vice President and Partner of IBM Cognitive Big Data and Analytics, and Rob Palacios, Executive Vice President and Director of Texas Capital Bank (TCB) Labs, sat down for a fireside chat about driving value in organizations with artificial intelligence (AI) and what it takes to be AI ready to reap the benefits of building solutions rather than just buying components of AI technology.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Cross-Border Payments Need More Than Bank-FinTech Collaboration

PYMNTS

When PYMNTS asked cross-border payments experts at the end of last year what they thought the driving trend would be for the industry in 2018, the consensus was all about collaboration , particularly between banks and FinTech firms. Throughout the year, that prediction has manifested into reality, as more traditional financial institutions (FIs) turn toward FinTech innovators to address the biggest pain points of the legacy correspondent banking system.

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Is Cross River Bank’s $100 Million Fund Raise a Positive Sign for Alternative Lenders?

Bank Innovation

Cross River Bank’s recent $100 million funding round could be an encouragement to lending-focused fintechs, who are currently being warned about a potential economic downturn. Indeed, Fort Lee, N.J.-based Cross River Bank is not fazed by that possibility, and nor are its investors, which in turn could be a positive harbinger for alternatives lenders who […].

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Things worth reading: 10th December 2018

Chris Skinner

Things we’re reading today include … Bank of England could buy works of art to fight next recession Former HSBC chief executive Stuart Gulliver to join as director at conglomerate Jardine Matheson Some banks love fintech, some may hate it Royal Bank of Scotland fostering culture of bullying – whistleblower … The post Things worth reading: 10th December 2018 appeared first on Chris Skinner's blog.

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Collaboration is Londonâ??s â??secret sauceâ?? for fintech success

Bobsguide

London has a “secret sauce” that keeps it ahead of the US and China. That’s according to Alastair Lukies, non-executive chairman of Innovate Finance and the Prime Minister’s business ambassador for fintech. “There’s a difference between disruptive fintech and.

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.