Chris Skinner

JUNE 17, 2016

Just to mop up the final discussions at the White House #FinTech summit, there was a fourth panel on financial inclusion. This panel comprised, from left to right: Gayle Smith, Administrator, USAID; Jo Ann Barefoot, Senior Fellow, Mossovar-Rahmani Center for Business & Government, Harvard Kennedy School; Greta Bull, CEO, CGAP (Consultative Group to Assist the … The post Financial Inclusion, Digital Identity and the White House appeared first on Chris Skinner's blog.

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Bank Innovation

JUNE 17, 2016

We’ll say this: virtual reality trading looks cool. Citigroup released a video earlier this week that shows the potential (tremendous) power of virtual reality to present data for trading. The example used is a trader at a workstation with a massive monitor — the technology could equally be used with mobile devices — Read More.

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Payments Dive

JUNE 16, 2016

Mobile Payments Today Editor Will Hernandez went to the National Restaurant Association Show for the first time to get a look at how restaurants are connecting with the connected consumer.

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South State Correspondent

JUNE 15, 2016

The most successful commercial lenders possess many skills and understand the intricacies of legal, financial and sales concepts. To be successful in today’s competitive environment, the best lenders continue to find ways of improving their skill set. We observe that the most successful commercial lenders that we work with consistently demonstrate five important behaviors and traits.

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Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Chris Skinner

JUNE 16, 2016

As you can tell, I found the White House meeting so interesting that I’m gonna bore you about it all week. Today is the turn of how FinTech can make us live smarter, better and more informed lives. That theme resonates as Moven’s strapline is to spend, save and live smarter (guess who came up with that … The post #FinTech is all about human-centred design appeared first on Chris Skinner's blog.

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Payments Dive

JUNE 17, 2016

Mike Hamlin of Fiserv discusses how our mobile society puts pressure on financial institutions to keep pace with increasing threats from fintech.

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South State Correspondent

JUNE 14, 2016

Last week, the Hutchins Center On Fiscal And Monetary Policy, part of the famous Brookings Institution, conducted a conference on the effectiveness of negative interest rates. The interactive workshop heard from, and reviewed, the execution and results of having a negative interest rate policy (NIRP) of five central banks. At present, there are 12 countries that have negative rates somewhere in their yield curve.

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Chris Skinner

JUNE 14, 2016

I’ve had a few meetings with folks at the White House over the past eighteen months, which has been an honour and not something I felt I should blog about. The National Economic Council woke up to the FinTech world early last year and have been consulting with many in the FinTech ecosystem. The latest … The post America’s regulatory issue is too many cooks appeared first on Chris Skinner's blog.

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Bank Innovation

JUNE 13, 2016

Banks’ own systems have to be rock-solid — but banks’ customers’ computers are a different story. In an era where more customers connect to banks digitally every day, a secure connection between the two systems is essential, but this can be difficult since customer devices are outside the banks’ control. Problems experienced Read More.

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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.

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Payments Dive

JUNE 13, 2016

While Apple didn't revamp Apple Pay like some expected, it officially announced its long-rumored entry into the online checkout world.

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South State Correspondent

JUNE 13, 2016

Community banks usually don’t adjust commercial loan pricing based on covenants, but that could be a mistake. Price adjusting covenants also called “performance pricing” adjust a loan’s interest rate based on borrower performance such as debt service coverage, loan-to-value, leverage or interest coverage. This structure could be symmetrical so that a loan is originated at a base price and then pricing is adjusted up or down based on historic performance.

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Chris Skinner

JUNE 15, 2016

The second White House panel discussion focused upon small business funding, an area close to my heart as it’s an area that has exploded with opportunity thanks to FinTech. I often reflect that FinTech is not disrupting or destroying banking, but that FinTech is augmenting banking by serving markets previously unserved or underserved. The unserved … The post Nurturing start-ups and SMEs through FinTech appeared first on Chris Skinner's blog.

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Bank Innovation

JUNE 14, 2016

Three banks are now live with realtime peer-to-peer payments on the ClearXchange network: U.S. Bank, Bank of America, and as of yesterday, JPMorgan Chase. U.S. Bank and Bank of America joined the realtime network in March. P2P payments were realtime within Chase since 2012, but now they are realtime among 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

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PYMNTS

JUNE 17, 2016

Visa is the first to admit that a lot of progress has been made in the U.S. EMV migration over the last seven months. Today, there are 300 million chip cards in circulation and 1.2 million EMV merchant locations. It’s also the first to say that there could and should be more places for consumers to use their chip cards. Terminal certification has, so far, been a big barrier to making that possible, and the hue and cry across the ecosystem over the EMV certification backlog has now reached

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Celent Banking

JUNE 15, 2016

Hosted by the European Banking Association and Finextra, EBAday attracts payments professionals from leading financial institutions and technology providers. This year’s event was held in Milan Italy with the theme, “A Brave New World for Payments.” Sessions focused on the dilemma facing the payments industry – enhancing existing payment models while preparing for alternative payments and technology.

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Chris Skinner

JUNE 12, 2016

Things worth reading today include … New criminal gadget can clone up to 15 contactless bank cards a second Farewell BBA: Lobby group backs plan to merge bank industry bodies after Libor scandal Libya SWF trial against Goldman Sachs set to start at London High Court Big Bang spawned a dark-trading monster UK financial services … The post Things worth reading: 13th June 2016 appeared first on Chris Skinner's blog.

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Bank Innovation

JUNE 13, 2016

Small business finance is a window of opportunity big enough to drive a truck through. Yet despite years of effort by many smart ventures, there has not yet been a breakthrough to mass scale. Many digital loan processing ventures, such as Ondeck and Kabbage have reached significant scale. Yet we are also seeing high Customer… Read more How blockchain technology could integrate financial & physical supply chains and revolutionize small business finance.

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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.

Lending

PYMNTS

JUNE 17, 2016

In this week’s edition of PYMNTS’ Weekly Tech Center Roundup , we take a look at Canada’s “economic powerhouse” and explore why Toronto may just be the next great tech startup creator. Before we jump into the post, here are a few quick facts about Toronto, Canada and its tech scene: Estimated population was 6.2 million as of 2016. The city’s GDP tops $304 billion.

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Bobsguide

JUNE 14, 2016

What happens when new technology can’t keep up? At MarkLogic’s World conference, CEO and President of the enterprise NoSQL big data platform provider, Gary Bloom, spoke about how IT can occasionally become a hindrance rather than a solution and it is important to understand that all.

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Chris Skinner

JUNE 14, 2016

Things we’re reading today include … Goldman Europe chief to face BHS inquiry Wells Fargo takes aim at start-ups Crowdfunding sites do battle with VC firms London traders brace for biggest night since ‘Black Wednesday’ Subjective U.S. bank forecasts to figure in loan loss reserves Prostitutes’ details found on Goldman banker’s phone, court told StanChart … The post Things worth reading: 15th June 2016 appeared first on Chris Skinner's blog.

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Bank Innovation

JUNE 13, 2016

The payments news from Apple seemed sparse compared to other flashier offerings at today’s Worldwide Developers Conference, but significant new payment platforms within the iOS were quietly announced. Ben Brown of the bank consultancy First Annapolis tweeted: WWDC payments news in a tweet: Apple Pay in/coming to 9 markets, coming Read More.

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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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PYMNTS

JUNE 14, 2016

Tapp Commerce , the peer-to-peer commerce exchange network that traces its roots to Finland but has been targeting expansion in Asia, said on Sunday (June 12) that it has garnered $9 million to help fund growth initiatives. The firm said via release that the latest funding brings the cumulative investment in the firm to date to just under $13 million.

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Payments Source

JUNE 12, 2016

With everything they need right at their fingertips, millennials are having a major influence on a rapidly evolving consumer landscape.

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Insights on Business

JUNE 11, 2016

Calling all rainmakers, catalysts and change agents. Now is the time to bank on a cognitive business! In the face of stiff headwinds still being felt from the financial downturn, the rise of the FinTech disruption and internal cultural resistance, we are starting to see winning organizations wade through a sea of change to find pragmatic ways forward.

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Bank Innovation

JUNE 15, 2016

Bank Innovation today officially launches BankBoost, a new app that fosters information discovery in the fintech industry. BankBoost is an “answerbase,” which means it is an app for getting questions to your fintech questions. Users can post on any fintech topic and seek answers from the Bank Innovation community. Think of 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

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