Bank Innovation
AUGUST 11, 2017
It’s startup season: the accelerators are adding their new classes, the venture capitalists are packing on the funding, and bright new fintechs are setting launch dates. Take a look at just five of these startups that Bank Innovation will be watching this month: Cushion Arguing with a bank over fees is one of the least […].
Chris Skinner
AUGUST 11, 2017
Just found an interesting document from Harvard Business Review with the title: How financial services views the digital agenda. It is the result of research conducted by the Harvard Business Review with the Genpact Research Institute, looking at the impact of dgitilaisation in finance, and confirms something I have been … The post Banks are failing digital due to legacy and leadership (Harvard research) appeared first on Chris Skinner's blog.
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Payments Dive
AUGUST 8, 2017
Banks need to find a way to create and maintain great relationships with existing and perspective customers. But alternative institutions are providing that experience, particularly of the mobile variety.
PYMNTS
AUGUST 10, 2017
Banks and FinTech companies have a complicated history. To put it mildly, the two sides have not always worked harmoniously together. Why the tension? Both types of institutions contend for the same business in the competitive financial services world. While traditional banks offer a more established and tested set of products, the offerings of newer FinTech companies — such as real-time data, streamlined payments and quick notifications — are helping these new players encroach on banks’ t
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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
AUGUST 7, 2017
A bank buying a fintech company is newsworthy, but a fintech startup buying a bank means the industry may be changing. It’s happened before — Green Dot bought Bonneville Bank back in 2011, and there have been a few others, but it’s far from a trend — yet. But that kind of change is what […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
AUGUST 9, 2017
Winnie-the-Pooh isn’t normally considered a business guru, but it turns out that A.A. Milne had a pretty good grasp on the challenge of digital transformation. “How does one become a butterfly?’ Pooh asked Piglet in one of the stories. ‘You must want to fly so much that you are willing to give up being a caterpillar,’ Piglet replied. ‘You mean to die?
PYMNTS
AUGUST 9, 2017
The rivalry between banks and FinTechs has, at times, been tense if not downright combative. Enter APIs to help the two sides coexist more peacefully. API solutions are doing more than helping two different types of financial institutions find ways to collaborate. By integrating artificial intelligence and machine learning capabilities, companies are relying on API solutions to fight cybersecurity threats and help businesses determine the trustworthiness of a potential trading partner before ent
Bank Innovation
AUGUST 8, 2017
Better originations, better sales, more revenue: wow, did Lending Club just report a positive quarter? With the results reported on its earnings call yesterday, it certainly seems as though the marketplace lender has turned back toward growth. The company recorded about $140 million in total net revenue for the quarter, representing “the second highest revenue […].
Chris Skinner
AUGUST 10, 2017
A year ago, I wrote a piece about Fin and Tech being like Father and Son. The thing that I was noting is the chasm between bank leadership teams, who are generally men over 50, and FinTech startups, who typically have young visionaries and significant diversity. It’s a theme I’ve … The post Balancing experience and vision 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
Accenture
AUGUST 7, 2017
Five themes are driving change in payments today. Individually they have a significant impact on the way we pay. Combined, these effects are amplified, creating a powerful force on the payments landscape, which, if you like, we can call Payments^5. Firstly, banks across Europe are preparing for PSD2 inJanuary 2018, much of it focused on building open API capability.
PYMNTS
AUGUST 7, 2017
Vantiv Integrated Payments — a Vantiv company and provider of payments technology and processing services for small and medium-sized businesses (SMBs) — announced news on Monday (August 7) that triPOS Cloud, a cloud-based API for easier and faster real-time payment processing, is now live. The company said the API is available for all independent software vendors (ISVs) and merchants to process point-of-sale (POS) transactions.
Bank Innovation
AUGUST 9, 2017
Fall is around the corner and prepaid card issuer Green Dot, which is the regulated bank partner for Apple Pay, has updates on Apple’s P2P money transfer service that will launch in the coming months. In their earnings call for the second quarter ended in June 30, Green Dot CEO Steven Streit updated investors on developments […].
Chris Skinner
AUGUST 7, 2017
Just over a year ago, it was predicted that the skies would fall, the earth would open and fire and brimstone would rain down all over Britain if we voted to leave Europe. Our people ignored all the dire warnings – what do experts know? – and a year later, … The post Banks bloody battle over Brexit 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 Source
AUGUST 10, 2017
Oracle Corp. is offering a payments application programming interface based on the ISO 20022 standard that will allow banks to more easily collaborate with fintechs and other third parties.
PYMNTS
AUGUST 10, 2017
Apple has been engaging in anti-competitive behavior in China, its largest mobile applications market, according to a lawsuit filed with regulators in that country. The antitrust suit, which comes on behalf of more than two dozen developers, was filed Tuesday by Dare and Sure, a law firm based in China. The lawsuit states that the tech juggernaut is mistreating Chinese developers through its stronghold via the iOS App Store.
Bank Innovation
AUGUST 8, 2017
Two distinct streams have surfaced in fintech: passive and active investment. Betterment is the poster child for passive investment, recently booking $70 million in venture funding and has continued to enhance its services. But the active investment strategy for investors is far from dead in fintech. Pierce Crosby, head of business development at partnerships at […].
Chris Skinner
AUGUST 9, 2017
It was interesting to see the release of a discussion paper by the EBA (European Banking Authority) last Friday. As a regulatory body, they have decided that they need to take action on FinTech, and are asking for input on what action to take. The EBA is taking forward work … The post Shape the future of European FinTech regulations 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.
Let's Talk Payments
AUGUST 10, 2017
Cash money out – phones in? As consumers remain tethered to their phones, the growth of mobile wallets has exploded, multiplying faster than bunnies in springtime. But just like any.
PYMNTS
AUGUST 10, 2017
It’s been a little over a year since our Digital Banking Tracker heralded the “ Dawn of Banking Voice Technology.” Now it’s more like the high noon of banking voice technology, with most major banks hosting their own incarnation — all with slightly different capabilities and adoption rates. Santander U.K. started the trend by launching a voice assistant within SmartBank, its mobile banking app for students, before rolling it out to the general public.
Bank Innovation
AUGUST 9, 2017
Startups in all industries face one common challenge: gaining funding. Unlike other financial challenges, this isn’t a problem that disappears with age and experience. This is according to the Small Business Credit Survey released yesterday by the NY Federal Reserve Bank, which found that the majority of startups aged 0-2 years and 3-5 years respectively […].
Chris Skinner
AUGUST 8, 2017
Things we’re reading today include … Tandem app in deal to take over Harrods Bank Lending Club: overbanked Funds target ‘unknown’ stocks as Wall Street cuts analyst jobs Worldpay granted second deadline extension for Vantiv deal Bitcoin soars to record high value Monitise shareholder slams revised £75m offer from American … The post Things worth reading: 8th August 2017 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.
Let's Talk Payments
AUGUST 10, 2017
On the future of business, omnichannel commerce, and the role of company culture in facilitating sustainable growth in a rapidly changing environment, the LTP Team had the pleasure of interview.
PYMNTS
AUGUST 11, 2017
Amazon is exploring a cutting-edge food technology for home delivery, as the online retailers continues to find new ways to get into the $700 billion U.S. grocery business. According to Reuters , Amazon is looking into selling ready-to-eat dishes as soon as next year. The dishes would not require refrigeration and could be offered cheaply compared with take-out from a restaurant.
Bank Innovation
AUGUST 10, 2017
PayPal has big plans for its latest acquisition, small business lender Swift Financial. PayPal today announced its first acquisition since picking up TIO Networks in a $233 million deal back in February. Terms of the transaction with Swift were not disclosed. But Palo Alto, Calif-based, PayPal has high hopes for Swift, a leading provider of […].
Chris Skinner
AUGUST 7, 2017
You may be aware that I am a Non-Executive Director of 11:FS. If not, have you not been awake for the past year, and the success the guys are having? Not only have they won some of the biggest digital bank transformation projects in Europe – beating the likes of … The post Sam Maule joins 11:FS appeared first on Chris Skinner's blog.
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