Sat.May 04, 2019 - Fri.May 10, 2019

Fintech startups use unique approaches to payments to raise funding

Mobile Payments Today

As venture capital continues to look for new opportunties, startup firms in the fintech space are taking unique approaches to payments and financing to raise new funding to accelerate their growth

The reason digital is a leadership challenge and not a project

Chris Skinner

I blogged in March (Transforming the bank – three phases of change) about the method to make systems change happen to transform the bank. In another conversation, I then realised that there are three phases of organisational change to transform the bank.

Amazon Hit With Cyberattack; Money Stolen From Sellers

PYMNTS

Amazon was the target of an “extensive” cyberattack in which hackers stole money from merchant accounts and funneled them into their own, according to a report by Bloomberg. The attacks occurred between May and October of 2018.

Facebook’s Blockchain Team Is Assembling Its Own Mini-PayPal Mafia

Bank Innovation

The inner workings of Facebook Inc.’s s blockchain team are still shrouded in secrecy, but it’s staffing up, according to people familiar with the group. Those people said that its product, which Bloomberg earlier reported will be a type of cryptocurrency, could be announced as soon as next quarter.

San Francisco Board of Supervisors passes ban on cashless retail

Mobile Payments Today

San Francisco became the latest municipality to ban cashless retail as vulnerable populations demand equal access to shopping and dining service

FinTech or TechFin (speech transcript)

Chris Skinner

I recently gave a speech where the title was FinTech or TechFin? Everyone had been give a copy of my book Digital Human, and the speech was transcribed. Here it is: FinTech or TechFin? Thank you for inviting me to join you here. It is a great honour.

How 45 Pct Of Old-School SMBs Plan To Innovate

PYMNTS

In today’s digital economy, with shopping as easy as the tap of a finger on a smartphone screen, brick-and-mortar retail businesses have no choice but to innovate to keep and grow their clientele.

More Trending

Fintech regulatory case threatens to shake up banking competition

Mobile Payments Today

A lawsuit brought by New York banking regulators could have a significant impact on fintech development amid efforts by federal authorities to drive innovation

It’s all about the data

Chris Skinner

As those who read my blog will know by now I chair a very active group called Nordic Finance Innovation (NFI), based out of Oslo. Our last meetings were a great success and NFI rapporteur Danielle Pamela Neben did a great write-up afterwards.

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Alipay, Adyen And Klarna Team Up For ‘Pay Later’ Option On AliExpress

PYMNTS

Three popular payment companies, Alipay, Adyen and Klarna, have teamed up to allow AliExpress shoppers to use Klarna’s “Pay Later” option for online shopping, according to a release. . The pay later option is enabled through Adyen, the payments provider behind AliExpress.

U.S. Congress Launches Task Forces for Fintech, AI

Bank Innovation

The U.S. House Financial Services Committee has unanimously adopted two resolutions establishing task forces for fintech and artificial intelligence.

Sales performance in a changing sales world

Insights on Business

The world of sales is changing. To make the most of every pound, dollar, or euro of sales compensation and have a sustainable impact on sales performance, sales compensation needs to be integrated into the broader aspects of sales performance.

Bitcoin, Stablecoin, Blockchain, Enterprise Ledger … WTF?

Chris Skinner

I used to blog about blockchain and cryptocurrency almost every day. I stopped as it got too hyped, scammed and boring. In fact, my last blog was about the blockchain hype being dead, but the blockchain dream is still very much alive.

FinTech Firms Tackle PCI Burdens With Hosted Checkout

PYMNTS

PCI compliance is top of mind for many organizations, with a burden and commitment from the chief financial officer (CFO) suite that is not nominal — and quite capital intensive.

FIs Pushing for More Cross-Sell of Wealth, Commercial Banking Products

Bank Innovation

Having spent a lot of time attending to retail customers, banks are now trying to digitally transform their wealth management and commercial lending businesses. In the process, banks hope retail customers will buy these non-retail products.

Model governance comes to fraud detection

Insights on Business

Payment fraud detection has always had a bit more latitude than its counterparts in anti-money laundering, customer due diligence and even trade surveillance compliance.

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What does your leadership look like?

Chris Skinner

I’m sure some people see me walk into a room and go oh no, not him. I have a position, and it’s not popular with everyone. But I don’t care. On my LinkedIn profile, I describe myself as a troublemaker, and no issue, I’m sticking with that.

Google To Launch Electronic IDs For Android Devices

PYMNTS

Google has announced that it is working on bringing electronic IDs to Android devices, according to reports. The company released the news on Thursday (May 9) on the last day of its developers’ conference.

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Banks Back Record Number of Cybersecurity Startups

Bank Innovation

Banks and their venture arms increasingly are backing cybersecurity startups, investing in everything from threat intelligence to data security firms, according to a new CB Insights report.

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Stemming the AML crisis and seeing immediate value with AI

Insights on Business

When it comes to AML compliance, or the lack thereof, the financial industry is having rough year. A number of money laundering schemes have come to light, including the $8.8 billion Troika Laundromat , which have exposed or implicated a large swathe of the industry.

Things worth reading: 6th May 2019

Chris Skinner

Vodafone: How 5G Will Impact IoT’s Future

PYMNTS

There is a tendency when talking about the Internet of Things (IoT) — and all the miraculous things it will power in the future — to lose sight of the fact that it’s not really a conversation about the future.

BNY Mellon Hires for Blockchain as More Firms See It as a Priority

Bank Innovation

Bank of New York Mellon has named Subhankar Sinha as Head of Blockchain.

Six obstacles getting in the way of your sales story

Insights on Business

The story your sales team tells your customers is the front-of-the-line growth driver for your company. The most current research is in general agreement that a good sales pitch is backed up by a well-crafted story.

The Finanser’s Week: 29th April – 5th May 2019

Chris Skinner

The main blog headlines are … Banking in the Cloud One of the surprises I have had in my discussions with banks that are doing digital well, is how all of them seem profoundly committed to cloud-computing.

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New NACHA Rule Could Catch Payment Processors, Merchants, FIs Off-Guard

PYMNTS

Among the highest ideals for digital payments – driving innovation in transactions and customer experience – is, of course, the concept of seamlessness. That implies an ease of use while giving up nothing when it comes to security.

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Green Dot Doubles Down on BaaS Business with $60m Investment

Bank Innovation

Green Dot, a Pasadena, Calif.-based based fintech with a banking license, appears ready to go all-in on its banking-as-a-service platform business.

Unicorn Hunters: These Investors Have Backed The Most Billion-Dollar Companies

CB Insights

There are 344 private unicorn companies globally valued at $1B+ as of 5/5/2019 — all featured on CB Insights’ real-time global unicorn tracker. Over the years, a total of 2,018 disclosed investors have backed those unicorns.

Things worth reading: 8th May 2019

Chris Skinner

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Why Accounts Payable Is The ‘Lost Child’ Of Finance

PYMNTS

All too often, firms eye their top lines and growth to the exclusion of most everything else — a mono-mindedness that can have negative repercussions.

Japan’s Episode Six to Launch in the U.S. Soon

Bank Innovation

Payments software provider Episode Six will launch in the U.S. soon, according to its co-founder and CEO John Mitchell. Though he could not disclose a timeline, Mitchell noted he's currently visiting New York City to lay the groundwork for the launch. “We

14 Corporate Innovation Lab Products That Changed The World

CB Insights

Today, it seems like every large corporation has its own “ innovation lab.”. Designed to be nimble, startup-like working environments inside big corporations, these labs have produced some successes. They have also, like startups, produced a lot of failures.

Things worth reading: 10th May 2019

Chris Skinner

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Innovative Ecosystem Draws FinTech Firms To Toronto

PYMNTS

Toronto is a powerhouse for financial innovation in Canada: The city has the most sizable ecosystem for FinTech in the country, with 185 startups per one count. NorthOne , a FinTech firm that focuses on small business owners, is one of the companies that call the city home.

Why Visa is acquiring Earthport for its ACH payments business

Bank Innovation

Visa announced yesterday that it is acquiring the cross-border payment company Earthport. The question is why? The short of it is that the acquisition will allow Visa customers to securely send money to businesses, individuals and banks around the globe in real time.

How Best to Deploy, Scale, and Manage Global IoT Solutions

Mobile Payments Today

Effective connectivity management is key to a successful IoT deployment. With effective connectivity management, every connection can be managed and secured throughout its lifecycle – from device onboarding, provisioning and updates, through to end-of-life decommissioning

Things worth reading: 9th May 2019

Chris Skinner

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