Bank Innovation
OCTOBER 12, 2016
APIs (application programming interfaces) are fast becoming integral to the banking world, but corporate culture has not yet caught up with the technology, according to data from a survey conducted by the Open Bank Project together with Bank Innovation. In 2015, 62% of survey respondents indicated corporate culture and bureaucracy Read More.
Chris Skinner
OCTOBER 10, 2016
I was thinking about not sharing this info but hey, as you are good enough to read my blog … here’s the bottom-line on digital disruption (ed: oh no, Chris said the D-word!). There’s a slide that’s been doing the circuit for a while. It comes from Visual Capitalist, and charts the change in the world’s … The post If you want to convince the bank to change, read this blog appeared first on Chris Skinner's blog.
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Payments Dive
OCTOBER 13, 2016
Bitcoin and mobile wallets have the same issue essentially. While they are interesting tools, most consumers don't see a reason why they need to use them.
Accenture
OCTOBER 14, 2016
Payments are experiencing a significant wave of change across multiple dimensions, including speed, transaction volumes and new ways of paying. At the same time, the opportunity to generate revenue from payments is decreasing. E-commerce and contactless cards are rapidly displacing. 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.
Bank Innovation
OCTOBER 11, 2016
A study from Temkin Group released today puts San Antonio-Texas-based USAA head and shoulders above every other corporation in America in terms of Net Promoter Score. Net promoter Score is a slightly controversial metric that measures customer loyalty. A company’s NPS is supposed to correlate with revenue growth. A score of -100 Read More.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
OCTOBER 14, 2016
Mobile Payments Today Editor Will Hernandez takes a closer look at Bank of America's Trends in Consumer Mobility Report that reveals Hispanics are avid users of mobile for banking and payments.
Accenture
OCTOBER 14, 2016
Inventor Thomas Edison was famous for his perseverance: He failed thousands of times trying to create a lightbulb before finding a combination of materials that worked. He reportedly said that “opportunity is missed by most people because it is dressed. Read more.
Bank Innovation
OCTOBER 14, 2016
There seems to be a profound conundrum facing blockchain and its implications for financial services. While it is true that blockchain seems to have the potential to “transform” financial services, it also faces steep challenges. It begs the question: is the at least $250 million invested in blockchain so far this Read More.
Chris Skinner
OCTOBER 12, 2016
In my travels over the past months, whether it’s Asia, America or around Europe, everyone asks me what I think about the Brexit vote. What’s going to happen? What does it mean? So I’m not going to write lots about Brexit, but every now and again it’s worth picking up the tone, especially as the … The post Welcome to Little Britain (and its hard Brexit) appeared first on Chris Skinner's blog.
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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.
Payments Dive
OCTOBER 11, 2016
A couple of executives from Stored Value Solutions offer answers to the mobile wallet consumer adoption problem.
PYMNTS
OCTOBER 10, 2016
National treasure Kim Kardashian has taught us all a series of invaluable lessons over the years: how to break the internet, that there is no such thing as too much eyeliner and that, if you are on the phone with Taylor Swift, the smart money is on hitting the record button. But of all the lessons we have learned from Kim — and later, Kimye — the most crucial, deepest and most fundamental is that, if one can get themselves behind the velvet rope, one should do so because life in the VIP suite is
Bank Innovation
OCTOBER 11, 2016
Last week was a good week for fintech funding (particularly blockchain companies).This week we’re looking at other areas of fintech: payments, point-of-sale providers, and data analytics. Take a look below: Payoneer: Payoneer is a cross-border payments platform that provides mass payout services and is used by Google and Airbnb, among a slew of Read More.
Chris Skinner
OCTOBER 10, 2016
Had a really interesting chat about RegTech the other day. We were debating how regulators have changed in recent times, not just in encouraging start-ups and innovation, but it looking forward rather than backward. For most of the time that I’ve dealt with financial services, regulators have always been in catch-up mode. They regulate what … The post Real-time connections between regulators and banks is a game-changer appeared first on Chris Skinner's blog.
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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
Celent Banking
OCTOBER 12, 2016
Most cyberattacks succeed because of weaknesses in people, processes, controls and operations. This is the definition of operational risk. Therefore, it makes sense to tackle cyber risk with the same tools you use to manage operational risk. We continue to prove that the approach of the IT department managing cybersecurity is not working. Cyber risk is typically treated in parallel with other technology risks; the IT department is motivated to focus on securing the vulnerabilities of individual
PYMNTS
OCTOBER 10, 2016
Is closing on Thanksgiving day becoming the new being open on Thanksgiving day? This week, Mall of America, the nation’s largest shopping mall, announced it was bucking the recent trend of opening stores to shoppers on Thanksgiving. Instead, Mall of America said it would close on Thanksgiving so its 14,000 or so employees could have the day off to spend time with their family, although the Minneapolis Star Tribune reported that the more than 520 stores inside Mall of America will have the option
Bank Innovation
OCTOBER 13, 2016
As we know, two of the most prized traits of blockchain technology, specifically when one is talking about the bitcoin blockchain, are its anonymity and its immutability. Unfortunately, those traits also lead to a fair amount of fraud; which is why Terbium Labs, a “dark web intelligence provider,” has teamed Read More.
Chris Skinner
OCTOBER 12, 2016
Following on from yesterday’s blog about Little Britain and a hard Brexit, we all know the world has been globalising and, even though there is currently a backlash against globalisation per se, it is unstoppable. It is unstoppable primarily because of technology. The whole planet is now on the network. Seven billion people have access … The post How do governments regulate a networked world?
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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.
Bobsguide
OCTOBER 9, 2016
Though she has her detractors, and some tech leaders like Peter Thiel find themselves supporting her opponent, Hillary Clinton has made support of financial technologies like blockchain an important element of her financial manifesto. In June, the campaign of the Democratic Party nominee and former.
PYMNTS
OCTOBER 11, 2016
Payments take the football field, but consumers call the plays. That’s how Dan Charron , EVP and Head of Global Business Solutions for First Data , sees it and how he describes the latest rollout of its commerce technology solution at CenturyLink Field Event Center and CenturyLink Field, home of the Seattle Seahawks , aimed at taking the fan experience to the next level.
Bank Innovation
OCTOBER 8, 2016
Our thesis at Daily Fintech Advisers is that consumer banking innovation is coming from two poles – the UnderBanked and the PostBanked. Wearables impacts the PostBanked. These economies are characterized by high productivity, high labor costs and plenty of disposable income. So people in these countries a) have the money Read More.
Chris Skinner
OCTOBER 8, 2016
The main blog posts this week were … Wouldn’t it be simpler just to launch a new bank? One of the commonest questions I’m asked is whether the bank should just launch another bank, rather than trying to be digital and convert the existing bank. The idea is that the new bank will have no … The post The Finanser’s Week: 3rd October – 9th October 2016 appeared first on Chris Skinner's blog.
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.
Payments Source
OCTOBER 13, 2016
As consumers get more comfortable opting into location-based mobile services, U.S. Bank has begun asking them to let it see where they're going so the bank can fine-tune its fraud management.
PYMNTS
OCTOBER 13, 2016
Canadian startup Ask The Doctor announced Ask The Doctor To Start Accepting Bitcoin As Payment on Wednesday (Oct. 12) it is now accepting bitcoin as a new way to further help protect its patients’ privacy. In a press release , the company said that users can choose to pay for advice from a physician by bitcoin on Ask The Doctor’s desktop platform.
Bank Innovation
OCTOBER 14, 2016
Image source An eon ago in March 2015, we wrote Not that many InsurTech startups – yet. Since then we have seen an explosion of startups including two very high profile ones – Lemonade and Metromile – hitting the headlines in recent weeks. InsurTech is now so hot that a Read More.
Chris Skinner
OCTOBER 13, 2016
Things we’re reading today include … London or New York? Why Brexit has shaken up the banking rivalry Wells Fargo complaints show flaws in federal whistleblower program Deutsche says wealth management outflows not significant China tops US in numbers of billionaires Wells Fargo’s new CEO faces immediate test Retailers and issuers are still battling over … The post Things worth reading: 14th October 2016 appeared first on Chris Skinner's blog.
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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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