Bank Innovation
JANUARY 30, 2018
EXCLUSIVE – If the future of banking is partnering with fintech startups, then finding the most innovative and efficient fintechs becomes crucial for banks’ success. This demand has led to the rise of third-party run accelerator programs. One such program is Little Rock, Ark.-based The Venture Center’s FinTech Accelerator program, which is backed by financial […].
Payments Dive
FEBRUARY 1, 2018
PSD2 in Europe has already begun paving the way for new generations of payment providers and direct carrier billing services, which are offering a more compelling customer-focused strategy, compared to the existing legacy providers.
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Chris Skinner
JANUARY 31, 2018
I’ve talked a lot about how young visionaries are re-shaping the financial industry. John Collison was 19 when he founded Stripe with his brother Patrick, and Ollie Purdue was 21 when he dropped out of university to found neobank Loot. In fact, there are many innovators under 30 out there, as … The post The young visionaries changing banking appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 2, 2018
Brick-and-mortar retailers have an opportunity to surprise and delight shoppers with digital, connected and omnichannel experiences in the physical store, but many are struggling to make that opportunity pay off. To be fair, reimagining an entire industry is no easy task. Trevor Sumner, CEO of PERCH , said that people aren’t seeing TV ads anymore, and active engagement between brands and their customers on Facebook is dwarfed by the number of shoppers who pass by a store display on any given da
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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
JANUARY 31, 2018
Last year, was big for corporate venture capital?—?$37.4 billion big. That’s the total record amount of money invested by the corporate venture capital industry last year in 1,268 financing deals, according to a report from Pitchbook and the National Venture Capital Association released Friday. Overall, corporate venture capital entities participated in 44% of all 2017 […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
JANUARY 31, 2018
I was intrigued to see the latest account switching numbers for the UK. Switching has been a focus of the Competition & Markets Authority, regulators, government and more, and yet promoting people to switch is not working. According to the latest stats, there are around 70 million deposit accounts across the … The post Even with a bribe, no one switches their bank account appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 31, 2018
In life, 40 percent of anything is a lot. In online banking, 40 percent abandonment is … intolerable. As many as four in 10 consumers have at some point in their journey into online banking found the process frustrating enough to give up, as estimated by Signicat. The survey from that identity assurance provider, conducted across 2,000 individuals, found that when it comes to applying for financial products at a financial institution (FI) — from checking accounts to credit cards — 40 percent of
Bank Innovation
JANUARY 30, 2018
South Africa’s Reserve Bank today unveiled a fintech unit. The unit, which consists of only three members right now, will pay attention to developments in areas like payments, lending and insurance among other things. The unit will report to Deputy Governor, Francoise Groepe. Based on a Finextra report, Groepe said of the fintech unit: Given […].
Payments Dive
JANUARY 30, 2018
It's time for a look back at January's most-read articles and blog posts on Mobile Payments Today.
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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
Chris Skinner
JANUARY 30, 2018
I was recently recorded on Roger Edwards’ podcast talking about FinTech, cryptocurrency and corporate change. Roger is a marketing strategist focused upon the insurance industry, and produces regular podcasts about said subject. You can checkout his website here, and here’s the low-down of our chat: On the show this week, I … The post FinTech, cryptocurrency and corporate change appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 2, 2018
Whether their money is on the Pats or the Eagles, one thing is for sure: Football fans will be spending a lot of it this Sunday (Feb. 4), especially if they’re attending the Super Bowl in person. ATMs in and around U.S. Bank Stadium in Minneapolis will see a spike in activity with the influx of consumers for the big game. That’s to be expected for financial services company Diebold Nixdorf , which partners with U.S.
Bank Innovation
FEBRUARY 2, 2018
Fiserv, FIS, and Jack Henry all come to mind when thinking of the top bank core processors. But what is each firm’s market share in the U.S. last year? According to data gathered by FedFis.com, the top processor is Brookfield, Wis.-based Fiserv. With more than 37% of the market share, Fiserv is well ahead of […].
Bobsguide
JANUARY 29, 2018
bobsguide caught up with Gurjeet Singh, CEO of Ayasdi, to discuss how AI will go in 2018. Ayasdi offers an enterprise-grade artificial intelligence platform that leverages big data to make intelligent business applications; for instance, Ayasdi has an application that powers parts of HSBC’s.
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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.
Chris Skinner
FEBRUARY 2, 2018
I’ve written a lot about Ant Financial – they’re a 30,000 word case study in my new book – mainly because they are the first payments platform to focus upon global reach for financial inclusion. That is not to say that I am ignoring the other platforms: PayPal, Stripe, PayTM … The post Tencent’s WeChat Pay is AliPay major rival appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 31, 2018
In what was described by eBay as an effort to improve customer experience and offer sellers a more competitive cost structure, eBay announced news on Wednesday (Jan. 31) that it will intermediate payments through a multi-year implementation that may last through mid-2020. This move marks a significant change in how buyers and sellers will interact and transact across the company’s online marketplace — namely, by letting shoppers complete their purchases within eBay’s website.
Bank Innovation
JANUARY 31, 2018
It’s not easy to express the full ramifications of the INV Global token offering in 7.5 minutes. But that’s how much time I had last week at the North American Bitcoin Conference in Miami. I did my best to describe INV Global as a token and application aimed at the corporate venturing sector. I explained […].
Bobsguide
JANUARY 30, 2018
Fintech firms and blockchain based technology are sometimes cast as the enemies of the traditional financial services industry – but my prediction is that in 2018, that will be proved to be a misconception. Hedge funds, investment banks, stock traders and fund managers have a long history.
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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.
Chris Skinner
JANUARY 29, 2018
Another great Brexit debate at the ISITC Europe annual bash the other day. I was on a panel with Kay Swinburne, MEP Member of Economic and Monetary Affairs; Rebecca Healy, Lead Analyst of Financial Market Structure at Liquidnet; and Michael Cooper, CTO Radianz, BT Global Banking and Financial Markets at … The post More on #Brexit, passporting and equivalence appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 30, 2018
No one truly knows exactly where and how blockchain technology will make the greatest impact. In corporate finance, the tool could upend the status quo of supply chain management, cross-border payments, invoicing and document sharing and more. Regardless of where blockchain makes its mark, what is certain is that corporates have to trust that a largely unfamiliar innovation will work the way it should; that means securely, efficiently and easily.
Bank Innovation
JANUARY 31, 2018
EXCLUSIVE – Small business lender BlueVine has doubled its invoice financing credit line to up to $5 million as well as increased its business line of credit to $200,000, Bank Innovation has learned. Based in Redwood City, Calif., BlueVine serves small businesses, typically those with at least 5-to-10 employees and an average revenue range between $600,000 […].
Gonzobanker
JANUARY 29, 2018
Delivery and content are equally important to a bank’s future readiness. I received a “personalized” email last week titled 5 Savings Strategies for Your Down Payment. Strategy #5 on the list was: “You may need to make more money.” (Well yeah. Always sage advice.). The email annoyed me for two reasons: I’m winding down the end of a mortgage where the down payment was made three presidents ago.
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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.
Chris Skinner
JANUARY 29, 2018
Things we’re reading today include … 1 in 5 people have a secret bank account Bank-based blockchain projects are going to transform the financial services industry City banks downsizing – and it has little to do with Brexit outcome Coincheck promises 46bn yen refund after cryptocurrency theft Active fund managers … The post Things worth reading: 29th January 2018 appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 30, 2018
Modern consumers want it all: free shipping, live site support, product reviews, many types of payment acceptance and, especially, quick checkout times. If they don’t get what they want, they’re likely to walk — or, well, click — away. Last year, all those clicking consumers, frustrated by slow and complicated checkout procedures, took $200 billion in potential revenue with them.
Bank Innovation
JANUARY 29, 2018
EXCLUSIVE— While PSD2 was the subject of extensive focus for European banks, businesses, tech firms, and fintechs, these institutions may not be ready for another data initiative, the General Data Protection Regulation, set to come into effect this May. In fact, studies show that less than half of businesses in the United Kingdom — only […].
Bobsguide
FEBRUARY 1, 2018
By Gustavo Burnier, Managing Director UK, Designit. To succeed in today’s financial landscape, banks must look at how they can best meet the demands of consumers, while at the same time ensuring they are keeping up with digital transformation. Today’s customers want a banking.
Advertiser: Data Robot
The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.
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