Chris Skinner
JANUARY 30, 2017
I recently spent a day in a meeting discussing Governance, Risk and Compliance (GRC) … yawn. Well, it is a bit of a dull area, but highly important. In fact, what gets me is that regulations are the big ticket barrier to change in banking. It’s what protects the banks from disruption and change, as … The post Bank regulations change every 12 minutes appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 3, 2017
In the more than 170 pages of Snap’s IPO draft, its P2P payments service, Snapcash, received a mere paragraph. Snapchat’s parent company will look to apply for a payments license in order to “mitigate regulatory uncertainty,” according to an S-1 filing. Although we currently use the service of a third party Read More.
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Payments Dive
FEBRUARY 2, 2017
As airline passengers increasingly turn to smartphones and other mobile devices to book and manage their flights and related travel arrangements, airlines have the opportunity for significant new revenues.
PYMNTS
FEBRUARY 1, 2017
In some ways, Belk department store is the last of a dying breed — and not just because it is a department store in the United States in the year 2017. Small and regional — outside of the Southeastern United States, most people haven’t heard of it. But Belk may have something to teach its more nationalized equivalents, because it is doing something that its counterparts nationwide, by and large, are not.
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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 2, 2017
I realised the other day that I didn’t have a good slide comparing the old bank world with the new. I often refer to it with the line that banks were built in the last century for the physical distribution of money as paper in branches with buildings and humans; now they have to be rebuilt for the digital distribution of money as data in the network with software and servers.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JANUARY 30, 2017
Starbucks said it faced operational challenges at some of its stores where mobile ordering is popular. How Starbucks responds to this challenge is something the industry will closely monitor as mobile ordering becomes a standard feature for many fast casual chains as well as a revenue generator.
PYMNTS
FEBRUARY 2, 2017
The predictions have been dire. Banks will be wiped out by nimble FinTech firms, intent on luring away consumers and corporate customers and the payments that come with them. But it need not be so. In an interview with PYMNTS’ Karen Webster, FI.SPAN’s founder and CEO, Lisa Shields, said that FinTech may be revolutionizing banking and the way payments are done — but it can help banks hang onto and even grow their commercial B2B business footprints.
Chris Skinner
JANUARY 31, 2017
A bank has to make a regulatory change every 12 minutes. That’s some task. A bigger question must also be: how can a regulatory check that a bank is compliant with their regulatory changes, if their regulations change every 12 minutes are run to 1,000’s of pages? The answer is they can’t, but they don’t … The post The Semantic Regulator (#RegTech Rules) appeared first on Chris Skinner's blog.
Bank Innovation
JANUARY 30, 2017
WiseBanyan began as a free digital investment advisor in 2014, but in 2016 it hit its stride, launching its first paid product, more than doubling its userbase, and nearing a $100 million benchmark in assets under management. Next up for the startup is bigger ticket financial products. “For us, the key Read More.
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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
Bobsguide
JANUARY 31, 2017
Mohit Joshi, President & Head of Banking, Financial Services & Insurance (BFSI) at Infosys. There was a time when every neighbourhood bank in North America and Europe was acquired by or merged with a larger institution. By 2000, global mega-banks offered fewer choices to consumers looking.
PYMNTS
FEBRUARY 3, 2017
Bitcoin’s value just broke $1,000. Again. And then went below. Again. Then up and down again. (Anyone else feeling seasick?). Following relatively flat growth through the end of January (by cryptocurrency standards, anyway), bitcoin’s value spiked, breaking $1,000 to reach a high of $1,003.92 in Thursday afternoon trading. At the time of this writing, bitcoin sat tenuously at $1,000.73, up 1.36 percent for the day.
Chris Skinner
FEBRUARY 3, 2017
Curating the daily news yesterday, I was surprised to see an article published by Wharton Business School that irritated me. Wharton Business School is one of America’s Ivy League Universities up there with Yale and Harvard. It should be publishing informed insights but this post was more of a headline grabber from Scott A. Snyder, chief innovation officer at venture capitalist firm Safeguard Scientifics and a senior fellow at Wharton’s Mack Institute for Innovation Management.
Bank Innovation
FEBRUARY 3, 2017
PayPal, Venmo, Google Wallet, Apple Pay, IBM Pay, Walmart Pay, Samsung Pay—the mobile wallet market just keeps on going and going, but according to Visa’s new CEO, that’s not necessarily what consumers want. Alfred F. Kelly, Visa’s new CEO, said on the company’s earnings call on Feb. 2: My personal view Read More.
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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.
Bobsguide
FEBRUARY 2, 2017
Daniel Liptrott, Managing Director at NCC Group. Many organisations use business-critical cloud hosted applications to carry out day-to-day operations, but some may not be aware of the potential consequences of losing access to this software. Organisations that outsource these applications must.
PYMNTS
FEBRUARY 2, 2017
Combating cyberfraud is a “balancing act,” says Sift Science, a fraud detection software company. And the number of things corporations have to juggle to safeguard their data — from the numerous types of fraud to the copious technologies that combat it all — mean cybersecurity is no easy task. Sift Science has just released its latest research on how businesses combat security threats, and its report, published last week, offers insight into how the issue of cybersecurity takes many shapes withi
Chris Skinner
FEBRUARY 1, 2017
So I’m in a conference that’s talking all the time about B2B2C models. I guess that’s because there are a lot of FinTech startups focused on the B2B2C structures like Leveris, Thought Machine, Solaris, RailsBank, ClearBank, CBW and more. But these are not B2B2C structures. The people talked B2B2C have got that wrong. There is no B or C in an open marketplace, just open structures.
Bank Innovation
FEBRUARY 1, 2017
When Mastercard fully rolled out its digital wallet last year – into the overcrowded market – it was unclear whether the company would be able reach the adoption goals set out by CEO Ajay Banga. But it did. The payment network enabled 80 million accounts at yearend 2016, and added five new Read More.
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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.
Bobsguide
JANUARY 30, 2017
Fran Reed, Global Regulatory Strategy, FactSet. In early 2015, the Obama White House Council of Economic Advisors reported that high investment commission fees lead to conflicted investment advice which cost investors an estimated $17 billion a year. With a broad surge in Google.
PYMNTS
FEBRUARY 3, 2017
SWIFT is putting the pressure on its members to enhance their cybersecurity capabilities, according to reports by SC Magazine. According to the publication, SWIFT is encouraging and, in some cases, threatening its member banks to deploy more sophisticated cybersecurity measures. The efforts follow last year’s high-profile cyberattack in which thieves stole $81 million from the Bangladesh central bank by infiltrating the SWIFT network.
Chris Skinner
JANUARY 29, 2017
A summary of the main blogs of the week … Laundering-as-a-Service (a bank USP) I was surprised the other day when I met Pawel Kuskowski, CEO and Co-founder of Coinfirm, a start-up firm offering Compliance-as-a-Service. Pawel has been trained in compliance and AML, having worked with some of the world’s biggest financial institutions including AIG … The post The Finanser’s Week: 23rd January – 29th January 2017 appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 2, 2017
Facebook’s payments revenue has been on a steady decline since users stopped obsessing over desktop video games like Farmville and Cityville. Will we ever see the social media giant revive that revenue stream? As games went mobile, Facebook launched instant games feature, bringing its Messenger platform into the action in November. Back Read More.
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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 29, 2017
Amit Dua has stocked up a wealth of experience in the financial services industry. He’s been at the core of the market for 25 years, working on a myriad of projects, and has a proven track record of opening new markets and growing existing ones. We spoke to the recently-appointed vice.
PYMNTS
JANUARY 31, 2017
With its infatuation with Instagram, Facebook and Snapchat, it’s safe to say that today’s generation is as concerned with appearances as were previous generations — if not more. The unexpected beauty queen reigning supreme is none other than cosmetic superstore Ulta , where anyone can walk in off the street for countless hair and makeup options. Whereas the latter half of 2016 saw a downward spiral in retail stocks, Ulta was the ray of light shining through with a 38 percent stock surge.
Payments Source
JANUARY 30, 2017
MPE - the leading European event on merchant payments. One big expo with 3 parallel conferences.
Bank Innovation
JANUARY 31, 2017
Applying for financing or credit cards at the POS at retail giants such as Best Buy is a no-brainer. Small and medium-sized merchants, however, don’t usually have that option. Blispay – launched in March last year – is set to tackle that issue, with a solution aimed at SMEs. The Baltimore-based Read More.
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