Chris Skinner
JANUARY 13, 2019
For years, I’ve been wondering why people in business operations couldn’t align their needs with the people delivering technology in the organisation. The CIO would sit outside the business, watching and responding to requests. The requests would get prioritisation and be delivered in sequence over time, sometimes a very long … The post The new FinTech bank appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 15, 2019
Automakers from Honda to GM and Hyundai see mobile payment technology as a key component in developing connected car technology.
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PYMNTS
JANUARY 18, 2019
There is no shortage of headlines about the partial government shutdown that is now on its 27th day, and no shortage of articles speculating how long it will go on, what will be affected and (most often) what it will take to finally bring it to an end. There is, yet, one simple takeaway from all of them: So far, there is no end in sight. While that can — and hopefully will — change any day now, the reality is that the longer the government remains partially closed for business, the longer 800,00
Bank Innovation
JANUARY 17, 2019
The tide is turning, says Pagaya CEO Gal Krubiner. The idea that investors need to look their asset managers in the eye is going away, just as visits to the bank branch are on the decline. This will happen in asset management, Krubiner says, because the proof will be in the returns. Pagaya uses data science […].
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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 16, 2019
Another key factor of the digital banks I’m talking to is that the customer is their primary focus. Not the shareholder, the investor, the quarterly bonus, the dividend yield or the cost-income ratio. The customer. This is something I’ve found quite rare in most banks, as the retail customer is … The post Digital banks are led by clear customer-obsessed principles 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.
PYMNTS
JANUARY 14, 2019
Africa as next great eCommerce frontier? The ingredients for a revolution in payments across the region, fueled by demographics and technology, seem to be there. In an interview with PYMNTs’ Karen Webster, Saqib Nazir, managing director of Africa at Emergent Technology delved into the ways the payments landscape across Africa is ripe for digital and mobile conduits, and a “cash light” mentality that focuses on the needs and desires of a burgeoning and youthful population.
Bank Innovation
JANUARY 17, 2019
There is a lot going on in fintech and digital banking around the world, not just the U.S., where Bank Innovation is based. The editorial team is compiling a biweekly list of three events that we believe will make waves in the fintech and digital banking landscape. Malaysia switches to realtime payments Malaysian banks went live […].
Chris Skinner
JANUARY 17, 2019
I found it interesting to hear that many of the banks focused upon digital are studying, visiting, talking to and hiring people from the Big Tech firms. People with experience at Netflix, Alibaba, Amazon and Tencent are in strong demand, especially those who can code. I always remember the comment … The post Digital banks look more like Big Tech and vice versa appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 14, 2019
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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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
JANUARY 16, 2019
In Asia, blockchain continues to get a boost from government and regulatory efforts, especially in the realm of trade finance done across borders. In one example from the past several days, the China Banking Association (CBA) — the regulatory agency tied to the sector — has launched a new blockchain-underpinned initiative focused on trade finance.
Bank Innovation
JANUARY 18, 2019
Executives at the four big U.S. banks seem to be optimistic their technology and innovation investments will pay off in the long run, and fourth quarter earnings for 2018 suggest some are already seeing progress on finding efficiency. Asked during JPMorgan Chase's earnings call where the bank will find expense flexibility, CFO Marianne Lake said […].
Chris Skinner
JANUARY 15, 2019
Another key factor in building a truly digital bank is commitment. Commitment right from the top and, by the top, I don’t just mean the CEO and the leadership team, but the Board of the bank. Quite often, a digital transformation of a bank requires years of commitment during which … The post Doing digital needs the Board’s mandate appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 17, 2019
U.S. e-commerce retailers need to overcome their concerns about selling across borders, as many of the concerns about engaging in the international market are based on common misconceptions.
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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
JANUARY 18, 2019
The rapid rise of smart cities promises to connect citizens with a wide range of municipal services. By some accounts , approximately 70 percent of the world’s population will reside in smart cities by 2050. Citizens in this type of environment will find a host of connected devices designed to enhance their daily routines, such as smart parking meters that help drivers find and pay for parking.
Bank Innovation
JANUARY 16, 2019
Fintech provider Fiserv said today that it will purchase payment processor First Data Corporation in a massive $22 billion deal, and the transaction will come with a hefty investment in innovation. The combined company will look to “extend differentiation through innovation and integration” using proven integration capabilities and enhanced innovation funding, according to an investor […].
Chris Skinner
JANUARY 14, 2019
I’ve been grappling with what sets apart the banks that I think are truly digital from the rest, and realised the other day that it is because they have digital to the core of the bank. They don’t just think the bank has to adopt digital or do digital, they … The post Set the people free appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 14, 2019
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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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
JANUARY 14, 2019
It looks like we can finally have a serious conversation about the impending collapse of physical retail in the U.S. All it took was a 160-year old retailer and a $34 billion kick in the stomach to the retail sector to get everyone’s attention. News last week that Macy’s profits would take an unexpected Q4 nosedive set off a retail stock market shock wave that wiped $34 billion in value from the sector.
Bank Innovation
JANUARY 15, 2019
The financial services company American Express today acquired the Japanese restaurant-booking app Pocket Concierge for an undisclosed amount. The startup is a graduate of 500 Startups Japan. Over the past two years, there has been a developing rapport between restaurant/food services companies and the payments industry. For card issuers such as American Express, rewards and cash […].
Chris Skinner
JANUARY 16, 2019
Things we’re reading today include … Excessive bank fees for unarranged overdrafts to be banned Bank of England sees UK current account risk from Brexit What bank results tell us about the health of Uncle Sam Goldman chief says sorry over ex-banker’s role in 1MDB scandal ‘We’re about to be … The post Things worth reading: 17th January 2019 appeared first on Chris Skinner's blog.
Payments Source
JANUARY 16, 2019
Fiserv will acquire First Data in an all-stock deal with a value of about $22 billion that will combine two of the financial services industry's largest technology and processing companies. Fiserv shareholders will own almost 58 percent of the combined company, with First Data's shareholders holding the rest. The acquisition is expected to close in the second half of 2019.
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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
JANUARY 17, 2019
Robots have taken their place inside eCommerce and other commerce-related warehouses, and will in the coming years take even larger roles in fulfillment, according to estimates. Hot on their trail are machine learning and artificial intelligence (AI) technology — the software and algorithms promising to reduce the risks of overstocking and understocking, and providing other benefits that can boost retailers’ revenue.
Bank Innovation
JANUARY 15, 2019
Citigroup CEO Michael Corbat touted roughly $200 million in cost savings the bank found in 2018 by going digital and taking on other related initiatives. It seems $200 million is only the beginning. Corbat said the bank will potentially reap $500 million to $600 million in incremental savings each of the next two years. That […].
Chris Skinner
JANUARY 14, 2019
Things we’re reading today include … Four former Barclays executives deny fraud charges ahead of trial Global economy fears grow as China and eurozone slump Pessimism clouds UK banking as demand for services drops Javid and Hammond team up to tackle £14bn of economic crimes Barclays on wrong side of … The post Things worth reading: 15th January 2019 appeared first on Chris Skinner's blog.
Ron Shevelin
JANUARY 13, 2019
There is a growing gap in AI investment and utilization between large and small banks which will enable the larger ones to garner even more market share away from the smaller ones.
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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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