Bank Innovation
JANUARY 23, 2018
EXCLUSIVE- Bank of America has quietly shuttered its free checking account, now requiring customers to keep a certain minimum balance in their accounts, or set up direct deposit of at least $250, to avoid a $12 monthly fee, the Wall Street Journal reported yesterday. The banks’s eBanking customers, all of which were switched into accounts […].
Chris Skinner
JANUARY 21, 2018
Finally, just over a week ago, Open Banking came into the UK and Open APIs into the European Union. I am sure you all know what this is all about by now but, just in case, it is the regulations that force banks to share data through APIs – plug … The post The disappointing arrival of Open Banking … and the optimistic future appeared first on Chris Skinner's blog.
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Payments Dive
JANUARY 25, 2018
Amazon's supermarket, which boasts a cashierless checkout, is open to the masses after a year in beta with Seattle-based company employees. Retail industry pundits, not surprisingly, have a lot to say about the public launch.
PYMNTS
JANUARY 26, 2018
Sometimes eCommerce retailers need to verify a customer’s identity at checkout, but the authentication process often leads to lost sales. Methods like a one-time password sent by text message (SMS), for example, can cause many consumers to abandon their online shopping carts. Customers are more inclined to go through with a purchase when retailers use alternate authentication methods.
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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 24, 2018
EXCLUSIVE- Echoing the mandate of PSD2, Bank of America Merrill Lynch today unveiled an API gateway that seeks to connect its commercial clients to fintechs and other third-party vendors. As of now, the API gateway is available to only clients with accounts in EMEA (Europe, the Middle East and Africa). Bank of America Merrill Lynch […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JANUARY 23, 2018
The company behind the banking industry's mobile P2P effort had to think outside the box to get the service's core tenants across in three TV commercials.
PYMNTS
JANUARY 22, 2018
The mobile devices in consumers’ pockets are getting smarter, and consumers are increasingly using those intelligent capabilities to manage their money. Now, banks are turning to use artificial intelligence (AI) to help consumers make smarter choices by providing actionable financial insights. In the January edition of the Digital Banking Tracker , powered by Feedzai , PYMNTS explores the latest developments surrounding new financial management solutions that are being powered by AI. .
Bank Innovation
JANUARY 24, 2018
Payments provider Mastercard has issued a deadline for the availability of biometric authentication across its cards, stating that all customers will be able to use fingerprints or facial recognition for verification by April 2019. For that to work, banks that issue Mastercard-branded bank cards will also need to be able to support these verification methods. […].
Chris Skinner
JANUARY 22, 2018
I was reflecting on this year’s Edelman Trust Monitor, a global survey of trust amongst consumers that has been running for 18 years. This year’s results prove fascinating, as there has been a slump in confidence in the media over the past year, due to fake news. However, the part … The post Half of banks’ customers don’t trust them 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
JANUARY 24, 2018
This market report takes a look back at 2017 and profiles carrier billing in the fastest growing countries of Asia Pacific, Latin America, Middle East & Africa, Western Europe and Central & Eastern Europe.
PYMNTS
JANUARY 26, 2018
Contract, or 1099, workers aren’t a new workforce phenomenon by any stretch of the imagination. But in the era of on-demand services – and a seemingly ever-proliferating number of platforms that match employees to short-term labor contracts – the last decade has been the emergence of the golden era of the gig economy worker. Initially, the rise of the gig economy was adaptive: The U.S. economy was in dire shape, companies were skittish about investing in employees and the labor force rapidly fou
Bank Innovation
JANUARY 24, 2018
JPMorgan Chase will open 400 new branches in the United States, raise the hourly wage for a portion of its workforce, and add new jobs to its banks as part of a $20 billion investment program, the bank said yesterday. The new branches will join the 5,130 Chase is already operating in the U.S., raising […].
Chris Skinner
JANUARY 25, 2018
Another musing whilst on holiday is that it is difficult to get into the head of a twenty- or thirty- something millennial when you’re a Gen X or Baby Boomer. In my head, I still think I’m 20 but, when I look in the mirror, I know I’m not. This … The post Millennials: are you cool or history? 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.
Payments Dive
JANUARY 26, 2018
Some fintech pundits believe that mobile payments players must adopt a single, universal platform as a solid push-start toward global ubiquity. On the other side are industry-watchers who believe that uniformity is the hobgoblin of stunted innovation.
PYMNTS
JANUARY 26, 2018
Enterprise software company CapLinked is rolling out a way to secure data stored on blockchain platforms. This week, the company announced the launch of TransitNet, a blockchain framework to protect digital assets and data stored on blockchain for enterprise clients. Companies can deploy the protocol via application program interface (API), CapLinked explained in a blog post , to secure transactions and data surrounding key enterprise deals like M&A, licensing, financing and more.
Bank Innovation
JANUARY 26, 2018
Shouldn’t banks be more like Apple stores? And shouldn’t fintech conferences be more like Apple stores? Bank Innovation 2018 will be. The event, taking place March 5-6 at the Parc 55 Hotel in San Francisco, will feature three financial experts at their own “bars,” ready to dispense financial advice. They may even have signature cocktails […].
Chris Skinner
JANUARY 24, 2018
I just had a nice holiday in Dubai. The hotel had a huge mixture of Asians, Russians, Indians, Europeans and even a few Americans. It was lovely. Geared up for families, there were rug rats and strollers everywhere. This got me thinking. Yet again, I was thinking how different these … The post Fast cycle change: building a new world 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
JANUARY 22, 2018
An interplay of factors – competition from non-traditional players, constant margin pressure and the ongoing shift to digital consumerism and omni-channel commerce -- is having a significant impact on the merchant acquiring business.
PYMNTS
JANUARY 23, 2018
It’s been about a year in the making. But here we go with Amazon Go, newly out of beta this week and available to the public, in what the eCommerce juggernaut hopes will be a brick-and-mortar retail game changer. It seems the brick-and-mortar arena continues to entice online merchants, as the store opened its doors at Amazon’s Seattle headquarters. The shopping is done via mobile, by app specifically, and customers get to leave with what they’ve bought without having to wait to checkout.
Bank Innovation
JANUARY 25, 2018
EXCLUSIVE — It’s not even a month into 2018 and already so much has changed. The cryptocurrency bitcoin, which shocked everyone by surpassing $17K, further shocked everyone by dropping below $10K. Then of course there are various other events sweeping the financial services space, from new tax laws in the U.S., to the rise of […].
Chris Skinner
JANUARY 21, 2018
The main blog headlines are … #Brexit, Banking and Equivalence As usual, the Financial Services Club was delighted to host David Doyle as our starting speaker for 2018, and he presented a fine overview of all the things bubbling as top of the agenda in the European Union’s regulatory plans … The post The Finanser’s Week: 15th January 2017 – 21st January 2018 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.
Bobsguide
JANUARY 22, 2018
It is ironic that while banks are closing branches and moving to automated, self-service channels they are also trying to offer personalised services to their customers at an individual level. In the past, relationships were developed and deepened with local bank branches staffed by people whose.
PYMNTS
JANUARY 22, 2018
Is India’s push for biometric IDs a bust? According to an article in The New York Times on Sunday (Jan. 21), one economist, Reetika Khera of the Indian Institute of Technology in Delhi, noted that the sweeping program to issue 12-digit ID numbers to the country’s 1.3 billion residents is possibly becoming a casualty of “its own ambitions.”. In an opinion piece for the publication, the economist posited that “ so far, [the program] Aadhaar — ‘the foundation’ in Hindi — seems to have helped neith
Bank Innovation
JANUARY 22, 2018
Walt Disney World is piloting a cashless resort at its Animal Kingdom Lodge next month. According to a WDW report, starting Feb. 12, Jambo House at the Animal Kingdom Lodge Resort will be the first location to go cashless for both purchases and services. Forms of payments that will be acceptable at the resort includes […].
Chris Skinner
JANUARY 21, 2018
Things we’re reading today include … Do Consumers Really Want to Bank With Amazon? Why do banks take different approaches to fraud? City hiring to rumble on despite Brexit as Bitcoin boom creates jobs Customers can go hang at RBS, where profit is the only motive | Kevin McKenna US … The post Things worth reading: 22nd January 2018 appeared first on Chris Skinner's blog.
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