Bank Innovation
NOVEMBER 7, 2017
EXCLUSIVE- With mobile banking, artificial intelligence, cryptocurrency, and other modern banking tools on the rise, the emergence of new players in the fintech space is a daily occurrence With that in mind, here are five startups to keep an eye on this week: Templum ICOs, or Initial Coin Offerings, are growing more and more popular […].
Chris Skinner
NOVEMBER 8, 2017
I’m involved in quite a lot of start-ups, ICOs and funds these days, and recently started a mini-series of interviews with them, as I think it will be of interest to readers of my blog. In the second of this series, I’m interviewing Andrew Zimine, CEO and founder of Exscudo. Hi … The post Introducing Exscudo appeared first on Chris Skinner's blog.
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Payments Dive
NOVEMBER 10, 2017
Cybercrime presents a serious threat and companies have a lot of work to do to reduce their vulnerability. Fortunately, there are resources available to assist them in the effort.
PYMNTS
NOVEMBER 8, 2017
When it comes to business, it’s no secret the competition is fierce. But in an increasingly interconnected world, even competing companies need to collaborate. Rival banks and financial institutions (FIs) need to work together to serve customers and transfer money between banks. Car dealers need parts from competing suppliers and manufacturers to keep repair shops and vehicles running without a hitch.
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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
Bank Innovation
NOVEMBER 9, 2017
It might be time to take another look at the regulations that keep banking companies separate from other commercial activity, Acting Comptroller of the Currency Keith Noreika said during an industry conference yesterday. The divide between the two industries has historically protected consumer money from being used in “risky,” non-bank enterprises, but it has also […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
NOVEMBER 10, 2017
With its focus on premium influencers and its control over a large ecosystem, Apple is in a unique position to effect massive change where others cannot.
Accenture
NOVEMBER 6, 2017
Culture transformation programmes are ten-a-penny in businesses across all industries. That’s no surprise. The pace of change—technological, economic and competitive—means all large organisations must now think very differently about how they operate and the way their people work. For banks, some extra pressures are pushing them in this direction. Tougher post-crisis regulation has introduced multiple layers of complexity and bureaucracy into their businesses.
Bank Innovation
NOVEMBER 7, 2017
EXCLUSIVE – Business software provider Intuit today launched its first loan product through QuickBooks called QuickBooks Capital. Users will be able to access the product in the homepage of their existing accounts with QuickBooks. These products are short term working capital loans ranging from $5,000 to $35,000 over a period of three to six months. […].
Chris Skinner
NOVEMBER 6, 2017
I’ve been saying for so long now that banks need to replace core legacy systems that I’m boring myself, but here I go again. The reason I’m talking about it again is that, even though some disagree and think they can fudge the issue with plug-ins, I believe that the … The post The ten-year ticking timebomb 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
Payments Dive
NOVEMBER 7, 2017
The two companies announced a collaborative partnership at Money20/20 to help merchants get a handle on how they can present the best customer experience going forward as consumers' behaviors and expectations continue to evolve thanks to emerging technology.
PYMNTS
NOVEMBER 7, 2017
Today, companies large and small are investing resources into using blockchain and distributed ledger technologies, in what some may later view as the golden age of blockchain development. Interestingly, many of these investments are made with the aim of moving B2B operations for companies, from auto manufacturers to financial firms, into the fast lane. .
Bank Innovation
NOVEMBER 7, 2017
Social media mogul company Facebook has launched P2P payments through Facebook Messenger in the U.K. today. The U.K. is the next market to have the service, after Facebook first launched the payments feature in the U.S. in 2015. According to reports, all major banks in the U.K. are taking part in the service. To use […].
Chris Skinner
NOVEMBER 7, 2017
Why are most bank brands just acronyms? I know it’s a silly question, as banks are acronyms because who wants to say John Pierpont Morgan Chase when it’s easier just to say JPM, but it is endemic to banking that banks are acronyms. I was just writing down a few: … The post Most bank names are meaningless appeared first on Chris Skinner's blog.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
Accenture
NOVEMBER 6, 2017
When it comes to Open Banking, regulatory, technological and competitive pressures are forcing banks to confront the choice posed by French critic, journalist and novelist Alphonse Karr: “We can complain because rose bushes have thorns, or rejoice because thorns have roses.”. Recent Accenture research indicates that banks in Europe (where Open Banking is being mandated) and in North America and Asia Pacific (where, at the moment, it is optional) appear to be choosing to admire the flowers.
PYMNTS
NOVEMBER 10, 2017
If only shopping weren’t so … shoppy. Sure, eCommerce takes away a lot of the hassle, but sometimes you need that last-minute pair of sunglasses or gloves, and ordering them online just isn’t an option. At least, not until Amazon invests in some beam-me-up magic. Say you just got off an airplane, and the weather is much colder than you expected. You’re traveling, and didn’t pack anything warmer.
Bank Innovation
NOVEMBER 6, 2017
EXCLUSIVE- PFM app MoneyLion today launched an investment tool called MoneyLion Plus, that aims to help the average American save money. “How do you save money? How do you invest? A lot of people don’t,” Tim Hong, MoneyLion chief marketing officer told Bank Innovation. “And that’s not because of lack of intention, but because it’s just […].
Chris Skinner
NOVEMBER 8, 2017
I was listening to someone talking about monolith versus microservices structures recently, and they likened it to an old car versus a new one. Old cars were made of metal and welded together into a solid machine where, if any part breaks, you have to replace the whole machine. The … The post Throwing technology over the wall appeared first on Chris Skinner's blog.
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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
NOVEMBER 9, 2017
It's time for a look back at October's most-read articles and blog posts on Mobile Payments Today.
PYMNTS
NOVEMBER 7, 2017
Those who are fortunate enough to have access to credit often take it for granted. Imagine if your car broke down, your child needed school supplies or your father passed away and you couldn’t afford the funeral, but banks didn’t want to work with you because you either had bad credit or none at all. What would you do? Many would turn to family or friends for an informal loan, while others would be too proud to do so.
Bank Innovation
NOVEMBER 8, 2017
Apple has launched its person-to-person payments service in the U.S. The feature lets users send and receive money through iMessage. Apple’s payments offering is now available in iOS 11.2 beta. Users will notice an Apple Pay button in their iMessage. Through iMessage, money will be transferred instantly to another user’s Apple Wallet, in the form […].
Chris Skinner
NOVEMBER 9, 2017
I was in a conversation with a regulator about bank competition, and they wondered how I saw banks changing. In particular, they were concerned about collegiate – read that as bank cartels – actions by the banks to protect their own interests. I thought about it and said that I … The post Digital democratisation appeared first on Chris Skinner's blog.
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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.
Payments Dive
NOVEMBER 9, 2017
Mobile Point of Sale capabilities are helping to reshape the checkout experience.
PYMNTS
NOVEMBER 8, 2017
Pundits prophesy a cashless society — and indeed, vast swaths of consumers are migrating to digital and mobile channels for many of their banking needs, as shown by a decline in the number of brick-and-mortar retail bank branches. Viewing account balances, paying bills or depositing checks are now as easy as tapping or swiping and a quick thumbprint scan on the consumer’s mobile device.
Bank Innovation
NOVEMBER 6, 2017
EXCLUSIVE — When it comes to blockchain, lenders need to stop thinking about smart contracts and start thinking about identity, according to industry experts. “To get an identity verified, to get an organization to service you, it can be a lot smoother, it can be more secure, and you can be more in control of […].
Chris Skinner
NOVEMBER 5, 2017
This week’s main blog headlines are … Regulating the unregulated I was thinking about this question of how to regulate global technology platforms that don’t recognise national boundaries, mainly in the context of crypto and digital currencies. How can you regulate a global currency that has no view of state … The post The Finanser’s Week: 30th October – 5th November 2017 appeared first on Chris Skinner's blog.
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