Sat.May 18, 2019 - Fri.May 24, 2019

If Facebook launch a cryptocurrency, will US government shut it down?

Chris Skinner

I’m writing more and more about Facebook launching its own cryptocurrency lately: Will Facebook become the world’s central bank? March 2019) Will a global platform connect all of our money?

How to choose the right payment processor for your business

Mobile Payments Today

Choosing the right payment processor for your business, whether it be a retail shop, restaurant or service provider, is a critical decision that requires several major considerations, including security, PCI compliance, convenience and ease of use

How To 266

Despite Growth, Questions Remain with Challenger Bank Numbers

Bank Innovation

With hefty injections of cash and ballooning customer numbers, challenger banks are gunning for a greater share of incumbent banks' customers.

Wallets Versus Stored Credentials: How Consumers Shop And Pay With Smartphones

PYMNTS

Mobile commerce might just be the key to saving brick-and-mortar stores. Consumers use their smartphones to shop for everything, everywhere – including using them to help them shop in-store.

Study 285

When will the FinTech bubble burst?

Chris Skinner

Reading about FinTech unicorns and pizzas worth $80 million, you would think that the world was bubbling over with wealth. FinTech investments last year peaked at over $110 billion, more than double the year before, and IPOs for firms like Uber and WeWorks are seeing valuations in the stratosphere.

Slowing mobile device cycle, consumer demand drive subscription revenue models

Mobile Payments Today

A slowing cycle for new mobile device purchases and a changing demand by consumers who want freedom and flexibility in digital content is driving subscription payments as an increasingly popular model for e-commerce

Mobile 222

Three reasons for risk analysts to get ready for quantum

Insights on Business

Rather than explain how quantum systems work, let’s discuss what quantum will do. For the financial industry, how is quantum computing helping? What problems will it solve in the future? How and why are financial institutions getting ready for quantum now? For more insights see my ).

More Trending

Banking with a human touch (guest speech transcript)

Chris Skinner

Some bankers took exception to my calling them some of them morally bankrupt and socially useless. I’m not surprised, as I used those phrases intentionally to be provocative. Equally, I wasn’t saying that all bankers are corrupt and useless, just some. Some big names, but not all.

Payments Startup Marqeta Confirms $260m Funding Round

Bank Innovation

Card issuing platform Marqeta confirmed a $260 million Series E funding round to expand to new geographies, build more features and support new customer acquisition. Hedge fund Coatue Management led the round, with participation from Vitruvian Partners, Spark Capital, Lone Pine and Geodesic.

It’s time to embrace customer data privacy and security

Insights on Business

Customer data is the modern enterprise’s most valuable asset. For years, enterprises have collected and stored it without giving it a second thought. Now, new technology, business and regulatory challenges are forcing them to rethink how they collect and manage that data. Customer data drives innovations like artificial intelligence and blockchain solutions. For most companies, it fuels increases in their share of existing markets, and it’s the key to unlocking new ones.

Bill.com Debuts AI Business Payments Platform

PYMNTS

Corporate payments technology firm Bill.com is rolling out a new platform designed to deploy artificial intelligence (AI) for automated workflows.

Are you focused on the right customer?

Chris Skinner

Another few articles I’ve picked up this week have focused upon the new generation of consumer: Gen Z. I would call them the iGen but that’s too branded, so marketers call them Gen Z. Who are the Z Gen?

Why community banks are partnering with fintech startups

Bank Innovation

As big banks try to win over customers with digital upgrades that resemble slick user interfaces from fintech startups, community banks are looking at new ways to keep pace with customer expectations. Many are seeing partnerships as the path to growth.

BNZ protects customers (and the customer experience) with IBM Safer Payments

Insights on Business

Bank of New Zealand (BNZ), one of the leading banks in ANZ, announced late last year that they have selected IBM Safer Payments to deliver cross-channel fraud protection to its customers.

Real-Time Payments Fraud: An FI Infrastructure Issue

PYMNTS

As the need for speed increases worldwide, banks and other financial players are adapting payments to work smarter — not harder.

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Things worth reading: 21st May 2019

Chris Skinner

Fintech Revenue to More than Double by 2024

Bank Innovation

A new study from Juniper Research expects fintech revenue will grow 59 percent over the next five years. The digital technology research and consulting firm predicted fintech revenue to increase from $263 billion this year to $638 billion in 2024.

Study 153

The Hidden Risk in Commercial Lending

Banker to Banker

MANAGING CREDIT RISK Most risk managers are intimately familiar with the expected loss for credit and interest rate risk. However, fewer risk managers are familiar with the concept of unexpected loss.

Tim Berners-Lee On Building The World Wide Web 2.0

PYMNTS

For Sir Tim Berners-Lee, the man credited with inventing and giving away the World Wide Web protocol that shaped the internet as we know it today, the web at its best has always been about being decentralized. The decision to make the Web an open system was necessary for it to be universal.

Will children save planet earth?

Chris Skinner

After my recent blogs about Earth Day, Banking for Humanity, the FinTech Parent-Child relationship and Gen Y and Z: Doing good for society and the planet (an Earth Day FinTech update) Doing bad for society and the planet (an Earth Day banking update) Banking for Humanity?

Adoption of digital banking doubles at RBC

Bank Innovation

The Royal Bank of Canada, Canada's largest bank, is seeing results from its $3.2 billion investment in digital transformation.

Driving performance management in sales: The evolving role of the sales compensation leader

Insights on Business

Businesses today face the challenge of change—of growing in a market defined by sustained volatility and technological disruption. As organizations mature, central business roles must also evolve to meet the challenges of growth and organizational complexity.

Cybersecurity Co Kaspersky Lab Details Malware Aimed At Mobile Banking

PYMNTS

Kaspersky Lab, a cybersecurity and anti-virus company, has reported a rise in a specific malware intended to steal money and credentials from people’s bank accounts. The company found 29,841 files of the malware in Q1 of 2019, which is up from 18,501 in Q4.

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The Finanser’s Week: 13th May – 19th May 2019

Chris Skinner

The main blog headlines are … Five phases of FinTech (2005-2027) Three years ago, I blogged about three phases of FinTech. Three years later, I can expand on that theme and talk about five phases of FinTech.

Last chance! Today is last day of BI’s Reader Survey

Bank Innovation

Attention readers! Today, May 24, is the final day to make your voice heard and help shape the content of Bank Innovation. As valued stakeholders, we welcome your feedback on how we represent the financial services industry and its efforts to innovate and transform.

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How To Get Better At Bank Email Notifications and Marketing

Banker to Banker

BANK EMAIL BENCHMARKS Send a bank marketing email out, and chances are 15% never reach the prospect’s inbox. That is not bad considering that it used to be above 25% just a couple of years ago. Bankers have been working hard at collecting email addresses and managing the distribution list.

How To 201

Consumers Who Use Mobile In-Store Are More Frequent Brick-And-Mortar Shoppers

PYMNTS

Mobile commerce has become part of the daily routine for many consumers — who are not just using devices to shop on the go, but also in-store and for a variety of product categories.

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Things worth reading: 23rd May 2019

Chris Skinner

Things we’re reading today include … Barclays and Santander customers suffer most service disruptions: where does your bank rank?

Payday advance app Earnin expands personal finance toolkit

Bank Innovation

Payday advance app Earnin, which has been downloaded more than 11 million times according to Aptopia data, is on track to become a personal finance platform.

Data 146

The One CRE Underwriting Metric You Are Likely Not Using, But Should

Banker to Banker

More Accurate CRE Underwriting Whenever your bank is looking at underwriting commercial real estate (CRE), you are probably looking at a variety of macro factors such as rent and occupancy trends, absorption, and capitalization rates.

Trends 201

Unexpected eCommerce Boost Pushes Earnings Beat For Target

PYMNTS

Target notched an impressive beat when it reported its Q2 earnings earlier this morning (May 22), with earnings and sales both clearing analyst predictions. Net income clocked in at $795 million, or $1.53 per share.

Things worth reading: 24th May 2019

Chris Skinner

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Mastercard, Divido Offer POS Financing Through U.K. Travel Site

Bank Innovation

Mastercard announced today that it has teamed with Divido, a multinational white-label platform for point-of-purchase lending, to offer online checkout financing for customers of U.K. travel site lastminute.com.

Online 146

Perficient Rings Nasdaq Stock Market Closing Bell

Perficient Financial Servies

From ambitious startup to formidable force, Perficient has come a long way in the past 20 years, and our performance and momentum have never been stronger. We held our initial public offering on July 29, 1999 – at the time with only 19 employees.

Bank/FinTech Harmony Sets Stage For AP Automation

PYMNTS

The B2B space is ripe for transformation, where outdated payment processes mark accounts payable (AP), and where technology can make all the difference as corporates choose their banking partners to satisfy their payment needs.

Things worth reading: 22nd May 2019

Chris Skinner

Inside Wells Fargo’s global payments strategy

Bank Innovation

Wells Fargo, through its partnership with cross-border B2B payments provider TransferMate, is showing its global payments ambitions.