Chris Skinner
FEBRUARY 4, 2018
Talking of banks not being trusted, do we have reasons to mis-trust them? Yes, many. Not only are many banks regularly called out for bad behaviour, but some have gone to the extremes of forging customers signatures. Then there has been the UK’s PPI scandal and Wells Fargo’s false account … The post How bad does a banker have to behave to be jailed?
Bank Innovation
FEBRUARY 8, 2018
EXCLUSIVE – Here they are. This morning, Bank Innovation officially announced the 11 companies that will be participating in its 2018 DEMOvation Challenge. These 11 companies will present technologies and products in front of an attentive audience of fintech professionals during Bank Innovation 2018, which will take place this March in San Francisco.
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Payments Dive
FEBRUARY 9, 2018
Financial Software and Systems (FSS), a leader in payments technology and transaction processing, is betting big on its recently launched FSSPay, an omni channel agnostic plug-in, which supports multiple international and local payment methods.
PYMNTS
FEBRUARY 8, 2018
Soon after Ripple announced a collaboration with MoneyGram, the blockchain firm revealed yet another partnership, this time in China. Reports in Blockchain News on Wednesday (Feb. 7) said Ripple announced a partnership with LianLian International, a Hong Kong-based, cross-border payments company, that plans to use Ripple’s xCurrent enterprise blockchain tool to process real-time payments coming into China.
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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
Chris Skinner
FEBRUARY 8, 2018
In my blog yesterday, I talked about the technology titans being liked and potentially trusted with money, but I still don’t think they will open full-service banking. Instead, I think they will focus upon full-service information. The reason I say this is that they don’t want to be banks, it … The post The real financial plans of the tech titans (#GAFA #BAT) appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
FEBRUARY 8, 2018
As the technology behind payments becomes more advanced and readily available, so too are the possibilities for fraud. The Federal Trade Commission’s online database of consumer complaints reports 13 million complaints from 2012-2016, 42% of which were fraud related, and 13%, identity theft complaints.
PYMNTS
FEBRUARY 8, 2018
Being a program manager isn’t easy. Essentially, it means handling everything other than card issuing, authorization and transaction processing. If it’s not holding money or providing a payment network, the program manager does it: AML (anti-money laundering) compliance, KYC (Know Your Customer), fraud mitigation, marketing, privacy, document review, OFAC compliance, reporting and more.
Chris Skinner
FEBRUARY 7, 2018
I recently blogged about Edelman Trust Barometer, which makes clear that technology firms are trusted the most and financial firms the least. This is misguided however, as we need to think about who trusts them with what. Consumers trust technology firms not to abuse their data? Hmmm. Consumers trust technology … The post Trust in banks is NOT the same as liking banks appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 5, 2018
EXCLUSIVE—Users of roboadvisor investment service Betterment who hoped to minimize the damage of the DOW’s crash—1,500 points as of last count—are finding themselves unable to access their portfolios or even make it to the website. The DOW’s present tumble led many to check on their investments and stocks, but Betterment customers trying to do so […].
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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
FEBRUARY 6, 2018
Ralf Gladis, CEO of Computop, examines why he believes PayPal made the change.
PYMNTS
FEBRUARY 5, 2018
Daimler’s Mercedes and Bosch are gearing up to test driverless taxis on the roads in the coming months. Engadget, citing German news site Automobilwoche, reported that Bosch head Volkmar Denner said the first test taxi will be on the roads in the coming months. He didn’t provide other details, reported Engadget, but did offer up more of a timetable for the initiative.
Chris Skinner
FEBRUARY 9, 2018
I just got The Banker magazine’s February issue discussing the top banking brands of the world. Timely, as I have been talking about trust and brands this week. In particular, I guess I was surprised the Chinese banks are the strongest brands across the board in 2018, with the top … The post Who has the most valuable bank brand? appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 7, 2018
Wall Street bank Goldman Sachs could potentially finance users who wish to purchase an iPhone X, according to the Wall Street Journal, which reported that the firm is in talks with Apple to offer such financing this morning. Potential iPhone X purchasers would be able to take out a loan from Goldman for funding—rather than […].
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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.
Payments Dive
FEBRUARY 7, 2018
TNS Dial is a managed payment transaction gateway designed to securely and reliably deliver transactions from all types of terminals. This cost-effective solution has a strong reputation among processors and acquirers. Download this brochure to learn more.
PYMNTS
FEBRUARY 8, 2018
Fit Pay , a unit of NXT-ID , announced news on Thursday (Feb. 8) of the launch of Flip TM , a contactless payment device for cryptocurrency holders. According to a press release , Fit Pay said the new device will enable cryptocurrency holders to use their digital coins to pay for goods at retail locations. The device launch follows an announcement in December that the company would expand its platform to include cryptocurrencies.
Chris Skinner
FEBRUARY 6, 2018
I spotted two stories about BBVA that appeared yesterday. The first was in the Financial Times with BBVA Chairman Francisco Gonzalez asking the G20 to take action against the big internet firms, saying “authorities [need] to bring order to this massive change” that could “pose risks to financial stability”. He … The post #GAFA, #BAT and #BBVA appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 8, 2018
Brokerage TD Ameritrade has created a Twitter “chatbot” that will allow its users to initiate trades over the social media platform, the Wall Street Journal reported today. Similar to the chatbot the firm launched in August 2017 on Facebook Messenger, its Twitter bot looks through tweets to provide investment intelligence to customers, including news on […].
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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
FEBRUARY 9, 2018
Stormy Mauri, vice president and product manager at Washington Trust Bank, talks about the challenges banks face going forward.
PYMNTS
FEBRUARY 8, 2018
Can predicting the future help retailers and other organizations avoid negative outcomes? It’s not just a thought exercise: By analyzing the past, organizations can shape the future they want to see, starting with creating the best possible user experience. Those who don’t know history are doomed to repeat it, and all that. Customer churn doesn’t have to be a total loss.
Chris Skinner
FEBRUARY 5, 2018
Things we’re reading today include … Bitcoin bombs below US$7,000 as sell-off accelerates amid bank bans and regulation concerns A Tiny Canadian Bank Is Building a Vault for Crytpocurrencies EU risks ‘serious’ impact on financial markets without trade deal, watchdog warns Lloyds Bank bans Bitcoin purchases on its credit cards … The post Things worth reading: 6th February 2018 appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 9, 2018
EXCLUSIVE— Banks are juggling a lot of change when it comes to the world of payments, but in order to be successful, banks should avoid getting bogged down in one specific technology trend, BNY Mellon told Bank Innovation. Michael Bellacosa, head of global payments product management with BNY Mellon, told Bank Innovation in an emailed […].
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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
FEBRUARY 8, 2018
And would Satoshi Nakamoto ever emerge to save it?
PYMNTS
FEBRUARY 8, 2018
ALDI , the grocery store operator, is being targeted by scammers who are installing credit card skimmers on top of point-of-sale terminals in plain sight. According to news from TechCrunch on Thursday (Feb. 8), police in Lower Pottsgrove, Pennsylvania, have pinpointed a group of thieves as the culprits. They’ve been installing camouflaged skimmers on ALDI credit card terminals right in front of surveillance cameras.
Chris Skinner
FEBRUARY 8, 2018
Things we’re reading today include … UK banks running out of time to apply for EU license, says ECB official Heritage Bank and the road to digital banking Race with Spain for European Bank post The power of the big banks remains as they take advantage of customer’s loyalty | … The post Things worth reading: 8th February 2018 appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 8, 2018
United Kingdom challenger bank Coconut will partner with prepaid cards and services provider PrePay Solutions, or PPS, to enable the bank to deliver digital banking for freelancers and the self-employed, PYMNTs reported today. Coconut, which was only recently launched in January, is looking to provide more tailored digital financial services for the U.K.’s freelancers, which […].
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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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