Chris Skinner
SEPTEMBER 26, 2016
I’ve blogged a few times about GAFA – Google, Apple, Facebook, Amazon – as the worrisome Gang of Four. Sure, we can worry about them, but the thing is to stop worrying and do something. Australian banks decide to stop Apple by taking them to court; British banks would rather partner with all of them; … The post Forget GAFA, the real threat is FATBAG appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 24, 2016
ID:38626297 Image source. Next week, 8,000 bankers and their vendors fly into Geneva for 4 days of talking about FinTech. Last year I had to fly to Singapore. This year, I can just hop on a train from Bern (sayonara jet lag). Last year Emergent Fintech started to move onto Read More.
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Accenture
SEPTEMBER 26, 2016
In my previous post I described Accenture’s framework, which includes the six key success factors of credit innovation that enable players to achieve performances comparable to new digital competitors: improve data quality, reshape customer experience, streamline instant loan process, boost. Read more.
Payments Dive
SEPTEMBER 30, 2016
Andrey Tikhonov, senior director of payment technology of Infinite Peripherals, reviews what the industry has witnessed with this much-discussed transition and what he believes will happen next year.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
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
SEPTEMBER 28, 2016
I find it a little amusing to see the noise being made by banks about FinTech. Lots of noise, not so much action. And where there is action, it’s not necessarily real. There are a few exceptions, but the majority seem to be tackling FinTech as more of a marketing requirement than an active cultural … The post As traders leave, the developers arrive 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
SEPTEMBER 28, 2016
We have the benefit of talking to hundreds of commercial borrowers across the country.
Payments Dive
SEPTEMBER 29, 2016
At last week's Bank Customer Experience Summit in Chicago, Brian Read explained how his bank integrates itself into the surrounding community.
Chris Skinner
SEPTEMBER 28, 2016
Things we’re reading today include … Blockchain Will Be Used By 15% of Big Banks By 2017 Banking business model is broken, analyst warns Citigroup becomes last big U.S. bank to join payments network London Stock Exchange offers to sell European clearing business ahead of full Deutsche Boerse merger probe QE is here forever, says … The post Things worth reading: 29th September 2016 appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 30, 2016
Earlier this year, Capital One and Amazon teamed up to put the Capital One “skill” on the Amazon Echo—as of now, Capital One customers who have the Echo or Echo Dot (anything with Alexa) can access their bank accounts using their voice. Capital One is currently the only financial institution 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
PYMNTS
SEPTEMBER 28, 2016
The retail industry is facing a virtual change: virtual reality. InContext Solutions announced it’s collaborating with Intel to develop new virtual reality (VR) hardware and software for the retail industry. The goal, a combined release said, is to provide the “best-in-class VR solution” and meet the changing needs of the retail ecosystem. VR does seem to be the next, almost futuristic phase of how we view the world.
Celent Banking
SEPTEMBER 27, 2016
When the leaves start falling, it usually means one thing for Celent analysts – the conference season is getting into full swing and it’s time for us to hit the road big time. The team is already busy at SIBOS this week, with BAI and AFP coming in a few weeks. Personally, I am looking forward to speaking on customer authentication at Mobey Day in Barcelona on October 5-6, as well as attending Money20/20 in Las Vegas on October 23-27.
Chris Skinner
SEPTEMBER 29, 2016
In a discussion yesterday, I made a comment which resonated. It was in comparing FinTech with transportation, and the idea that just because FinTech comes up with the idea of a self-driving car does not mean that we have to rip up the roads, does it? No. The transportation system has a huge amount of … The post Do we really need to rip up the roads?
Bank Innovation
SEPTEMBER 27, 2016
A collection of banks have formed what is being called the world’s first interbank group for global payments using blockchain technology. This is Ripple’s distributed ledger technology, specifically, because evidently no one at that company sleeps. “Six of the biggest banks in the world are saying, ‘hey, we’re dong this, we believe in this,’” 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
PYMNTS
SEPTEMBER 30, 2016
Can the unbanked benefit from bitcoin, or are they merely the experimental subjects of bitcoin adherents, lobbyists and scientists? This week’s Bitcoin Tracker takes a look at the recent bitcoin projects that are in the news and that are targeting the unbanked. Bitso Eyes The Latin Market. The regulatory framework for bitcoin is a mess in Mexico, as it is in most countries, but Bitso, a bitcoin exchange startup, sees a future in Mexico and Latin America.
Insights on Business
SEPTEMBER 26, 2016
Banking today is nothing like what it was a few years back. The industry is undergoing rapid transformation as banks are juggling increasing regulatory requirements, while at the same time looking for new ways to provide customers with better services anytime, anywhere. The entire conversation about technology for banks has evolved from historically long development cycles to rapid, digital reinvention.
Chris Skinner
SEPTEMBER 27, 2016
According to latest stats, China’s FinTech markets are booming in 2016. Over $10 billion went into FinTech firms in China in the first half of 2016, although half of that was Ant Financial followed closely by Lu and JD Finance. China’s Fintech 50 by KPMG (download the full report here) What intrigues is that this … The post China’s P2P are taking the P appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 27, 2016
It’s been a brutal year for the alternative lending industry. Scandals, staff cuts, rate hikes, and recently a Lending Club investment posted its first negative return in five years this August. But the alternative lender Elevate, a subprime specialist, is continuing to advance toward its IPO, and recently celebrated the hiring of 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.
PYMNTS
SEPTEMBER 26, 2016
Checks are a dying payment method, according to the Federal Reserve, except when it comes to rent payments. That may be about to change, however, thanks to full-service payment solutions that can accept credit card, debit card and mobile wallet rent, while rewarding tenants for paying rent on time. According to research from the Fed , the number of paper checks being used dropped by more than 50 percent between 2000 and 2012, as the use of new payment methods, like cards and mobile wallets, more
Bobsguide
SEPTEMBER 28, 2016
In a period of transformation and a market full of challenges, the banking industry needs to take advantage of each opportunity. Staying relevant, by adapting behaviour and embracing change, is one of the biggest challenges. There are so many technology companies who have the advantage of.
Chris Skinner
SEPTEMBER 30, 2016
I often write some things that I don’t believe, such as yesterday’s blog about the fact that we don’t need to rip up the roads. Of course we need to rip up the roads, because our mode of transport has changed dramatically. A great example of this change is just the very nature of the … The post Of course we need to rip up the roads appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 29, 2016
Talking about payments nowadays, and chances are you’ll hear a lot about Apple Pay, or the larger world of mobile payments or whether those six startups that let you pay with emojis have taken off. In other words, you’re probably hearing a lot about the future of payments, and not 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.
PYMNTS
SEPTEMBER 27, 2016
New research from Zscaler highlights an online scam to obtain credit card information from Magento’s eCommerce platform. Over the last three months, hackers have compromised over 400 retail sites that run Magento. The hackers injected malicious JavaScripts into the sites, and users are taken to a fake payment page where their information is stolen after it is entered.
Payments Source
SEPTEMBER 27, 2016
Aquiline Capital Partners, a New York-based private equity firm focused on investing in financial services and financial technology companies, announced Tuesday the creation of a new holding company that will acquire businesses focused on developing software used to manage and collect payments from groups and organizations.
Chris Skinner
SEPTEMBER 29, 2016
Things we’re reading today include … Why is Deutsche Bank now the biggest worry in the financial world? If elected, Clinton under pressure to appoint tough Wall Street sheriffs Wealth of people in their 30s has ‘halved in a decade’ Bankers could have their phone calls recorded and kept for five years under tough new … The post Things worth reading: 30th September 2016 appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 28, 2016
The classic use case for peer-to-peer payments is splitting a check — it’s straightforward, easy to understand, and the people doing it are young and having fun (probably.) But the problem is that the average P2P payment, according to JPMorgan Chase, anyway, is $300, rather expensive for a dinner bill. 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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