Chris Skinner
APRIL 22, 2016
I remember being involved in a business process re-engineering project for an insurance firm some years ago. We looked at how the underwriting process worked on complex insurance risks and discovered that in the middle of the process, the documentation would move to the overseas desk.
Bank Innovation
APRIL 22, 2016
Starbucks proves, once again, that it owns mobile payments. The Seattle coffee giant now has 19 million active mobile app users in U.S. alone, Kevin Johnson, president and chief operating officer said, and mobile represented 24% of the total payments in 2Q. The company’s Mobile Order & Pay program, launched Read More.
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Payments Dive
APRIL 21, 2016
Robert Capps, the vice president of business development at NuData Security, believes banks need to provide more responsive mobile experiences and do so by going beyond what he thinks are passive biometrics and behavioral analytics.
South State Correspondent
APRIL 21, 2016
Readers of this column know that we are big experimenters with artificial intelligence. We use it to set strategy (trying to figure out what really drives bank performance), use it in our loan pricing model (to offer suggestions of improvement) and to assist in credit analysis. We have also experimented with “smart systems” in a number of areas including compliance, HR, credit analysis, writing Suspicious Activity Reports and even writing this column (and you never even knew).
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Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Chris Skinner
APRIL 21, 2016
I regularly attend conferences where several themes crop up around disruption – that word we hate – disintermediation, and the end of banking as we know it. The problem is I’ve heard it for 30 years and it hasn’t happened … yet. Will it? Let’s have a look.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
APRIL 19, 2016
Juniper said with a number of transport agencies enhancing app capabilities and integrating payment services such as Apple Pay, the past 12 months have witnessed an increase in mobile ticketing users using apps for payments, as well as ticket delivery and validation.
South State Correspondent
APRIL 20, 2016
One difference between a great commercial lender and an average commercial lender is the understanding of loan documents and insightful knowledge of key terms found in loan documents. In this first part, of two, we will consider the structure of common commercial loan documentation and some finer points about working with these agreements and terms.
Chris Skinner
APRIL 19, 2016
I’m often talking about Victorian visions of the future to illustrate the issue we have today. The Victorian vision of the future was dealing with a number of problems, one of which was horse s**t. Manure. Manure was a massive issue.
Bank Innovation
APRIL 20, 2016
Bank of America is now offering its customers free access to their credit scores within the bank’s website, according to an email sent to customers today. The functionality is provided by the credit bureau TransUnion. Customers can now enroll to receive monthly updated Fico scores through email, by logging in their Read More.
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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
Payments Dive
APRIL 22, 2016
For the time being, most US FIs are relying on texted codes to offer their customers a cardless ATM option; by implementing NFC as well, Wells Fargo is getting a jumpstart on future interoperability.
South State Correspondent
APRIL 19, 2016
Last week, Chase joined the ranks of Capital One, USAA, Frost Bank, OneWest, Huntington, Northern Trust and others and announced that in August, the Bank will no longer charge for overdraft transfers on its retail or small business accounts. In addition to eliminating the $10 transfer fee charge, Chase will also not allow customers to draw on their credit card line to fund overdrafts and will thus limit transfers from savings and established lines of credit.
Chris Skinner
APRIL 18, 2016
I know many of my twitter followers have seen this news already, but here’s the official announcement of the partnership we are creating with Life.SREDA in Singapore. SINGAPORE-BASED LIFE.SREDA LAUNCHES $100 MILLION BLOCKCHAIN INVESTMENT FUND LONDON, APRIL 18 2016 Life.
Bank Innovation
APRIL 18, 2016
Last week we observed an upsurge in collaborations between startups and financial institutions, but this week is all startup glory. There are some old pros still doing us proud with 9-figure rounds, like Affirm, but a major Korean vital force is not far behind, in the form of e-commerce and seriously chill Read More.
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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
Payments Dive
APRIL 20, 2016
The bank said is using MasterCard's certified Host Card Emulation technology to enable contactless payments through its current mobile banking app.
South State Correspondent
APRIL 18, 2016
Last week we had a meeting that few banks have. It was a rarity for us, but it was eye-opening for all that attended. It brought an important clarity about the future, a clarity that would be helpful for any bank to achieve, no matter what their size. This meeting was an asset-liability committee meeting (ALCO) of sorts, but it was also strategic.
Chris Skinner
APRIL 20, 2016
Talking about transformation at conferences every day gets you into a mantra. My mantra is leadership and how banks lack technological leadership. The pushback is that you have too many technologists without banking knowledge. We need banks run by people who understand money, and they can tell the technologists what to do.
Bank Innovation
APRIL 19, 2016
Bankers want modern cores — but most don’t plan to do anything about it. That’s the slightly depressing conclusion of a recent study by NTT Data Consulting, formerly known as Carlisle & Gallagher. While 80% of banks plan to assess their core systems within the next three years, just 4% Read More.
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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 Dive
APRIL 21, 2016
The retail sector claimed the unenviable No. 1 position on the list, experiencing almost three times as many attacks as the financial sector last year.
Accenture
APRIL 20, 2016
Bitcoin was designed as a peer-to-peer payment system for the internet. Its key breakthrough was to solve the double-spend problem, thus allowing a system to develop with no central authority, but still with immutable trust, security and integrity. The banking. Read more.
Chris Skinner
APRIL 21, 2016
Things we’re reading today include … Greek talks with lenders fraught as fears grow of default Hedge fund manager goes from billionaire to millionaire in profits plunge US regulators target incentive pay for ‘significant risk-takers’ at financial firms China launches online finance crackdown John Maynard Keynes died 70 years ago.
Bank Innovation
APRIL 18, 2016
During a few days in London last week, there was a disconnect between public bullishness and private bearishness. The hype talk on stage contrasted with behind the scenes talk about bubbles and down rounds and layoffs. We have been trashing the Fintech hype all through 2015, so we are clearly Read More.
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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.
Payments Dive
APRIL 19, 2016
NCR believes it is at the forefront of the ongoing changes we see in omnichannel, whether it's at a bank or retailer.
Celent Banking
APRIL 20, 2016
Nobody likes being wrong. I’m no exception. Sometimes it’s not so much being wrong as much as being inaccurate. Here’s an example of where my best-effort estimates have been a bit off. Mobile RDC (mRDC) has been a fairly hot topic and a mobile banking capability that has gained rapid and widespread adoption among US banks. But how rapid and how widespread?
Chris Skinner
APRIL 20, 2016
Things we’re reading today include … Metro Bank stems losses to £7.
Bank Innovation
APRIL 20, 2016
Last week featured an attractive amalgam of startups varying in their sectors of innovation, but this week we can speak more candidly. Want to rule the world? Do you have a few friends who feel the same way? Follow along and you may extend your future-perfect Legion of Doom’s reach to Read More.
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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.
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