2019

Google, Facebook, Amazon and Co are NOT offering banking, so stop saying they are

Chris Skinner

In the last month, there’s been a wave of announcements from Facebook, Apple, Google and Amazon about banking. We’ve seen Facebook’s major activities in trying to create a digital currency called Libra, and Apple’s move into finance with a credit card from Goldman Sachs which, in just a month, offered … The post Google, Facebook, Amazon and Co are NOT offering banking, so stop saying they are appeared first on Chris Skinner's blog. Digital Bank Future Grid

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8 mobile payment trends that matter for 2019

Mobile Payments Today

Eight major trends will help define the landscape of mobile payments in 2019, according to Mark Flamme of AlixPartners

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Bank of the West to launch account for eco-friendly customers

Bank Innovation

Bank of the West is currying favor among customers who care about environmental sustainability. The bank, which is a U.S. subsidiary of BNP Paribas, is launching a new checking account in early 2020 called 1% for the Planet that will show customers the carbon footprint of their purchases. The product launch is appealing to consumers […]. Carousel Product Design Retail Banking Bank of America Bank of the West BBVA Compass BNP Paribas Doconomy

The best FinTech startups in Europe

Chris Skinner

I received a long and lengthy article last week from Taylor Ryan, CMO at Valuer.ai (tryan@valuer.ai). The link provides a comprehensive article on European FinTech developments. It’s so good that I am happy to share it with y’all. Enjoy. THE BEST FINTECH STARTUPS IN EUROPE Government support for the financial … The post The best FinTech startups in Europe appeared first on Chris Skinner's blog. Case Studies Fintech Grid

5 Things a Data Scientist Can Do to Stay Current

DataRobot together with Snowflake – a leading cloud data platform provider — is helping data scientists stay current with the latest technology and data science best practices so that they can excel in an increasingly AI-driven workplace. Five Things a Data Scientist Can Do to Stay Current offers data scientists guidance for thriving in AI-driven enterprises.

FinTech is on fire and London is burning …

Chris Skinner

A regular question that comes up is: When will the Fintech bubble burst? My claim is that it won’t under my watch, as this is as big a restructuring of banking and finance as the internet has been for commerce and trade. The latter change is still underway after a … The post FinTech is on fire and London is burning … appeared first on Chris Skinner's blog. Fintech Future Grid

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The end of FinTech

Chris Skinner

I’ve been involved in finance and technology for a long, long time. Originally, I was a technologist; then a financial technologist; and now a FinTech guy. However, I see the FinTech piece as being irrelevant. Whether it’s FinTech or TechFin, it’s all still just finance and technology. The difference is … The post The end of FinTech appeared first on Chris Skinner's blog. Fintech Future Grid

The real reason people don’t change banks

Chris Skinner

Interesting conversation about switching accounts. I’ve had a few people saying that banks don’t have loyal customers, but they have trapped customers. By way of example, an email from a friend: I am just exactly as loyal to my bank as they are to me, which is to say not … The post The real reason people don’t change banks appeared first on Chris Skinner's blog. Digital Bank Fintech Grid Numbers Opinion

Banks and FinTech Partnerships: a Clash of Extremes

Chris Skinner

A few years ago, I posted a guest article from Philippe Gelis, co-founder and CEO of FX firm Kantox, on Why FinTech Banks will rule the world. It was very popular and made my top ten posts of 2015, and Philippe has been kind enough to let me share another … The post Banks and FinTech Partnerships: a Clash of Extremes appeared first on Chris Skinner's blog. Digital Bank Fintech Grid

10 Ideas For Our Bank We Got From Wegmans

Banker to Banker

LEARNING FROM NON-BANKS Last week we tagged along with The Bank of Charles Town (BCT) crew who, like us, are heavily believers in “cultural tours.” BCT used a series of these tours to kick off their strategic planning season with the purpose of grabbing ideas that could spark creative thinking. Almost every time we debate if it makes sense to put the crush of our To-Do List on hold for a day and spend time at an unrelated industry.

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The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

Banks need a purpose other than making money

Chris Skinner

I wrote a couple of recent blogs about the issue with finding good developers and attracting them to banks. The first, about the war for talent, made the statement: the main motivation of developers joining a firm is to solve interesting problems. The second, titled When code is art, how do … The post Banks need a purpose other than making money appeared first on Chris Skinner's blog. Future Grid Inclusion

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The logic of digital change

Chris Skinner

I just went through a conversation about my presentation for a forthcoming conference. They didn’t want to provide a prescriptive approach, and just asked what I talked about in general. That’s a challenge, as I once turned up at a conference and they said to me “you have seven hours”. … The post The logic of digital change appeared first on Chris Skinner's blog. Digital Bank Fintech Grid

How financial institutions are embracing blockchain

Mobile Payments Today

What's holding the blockchain back? What can make it more secure? Panelists at Financial Services Data Security Summit, sponsored by Thales and Networld Media Group, shared thoughts on these issues

Varo crosses 1 million customers, with plans to become a bank by 2020

Bank Innovation

Digital banking brand Varo has 1 million customers, and is pushing ahead with plans to become a nationally-chartered bank early next year, CEO Colin Walsh told Bank Innovation Tuesday. The four-year-old company received conditional approval for a national bank charter from the Office of the Comptroller of the Currency in August, a process it initiated in […].

The Empowered Consumer

When it comes to working with the empowered consumer, AI has the power to help your business thrive by leveraging your own data to better understand your customers. Read our ebook, The Empowered Consumer, to learn more about how AI can help you connect with your customers.

When did FinTech become cool?

Chris Skinner

When did FinTech become FinTech? When did technology in finance become cool? I guess the first thing is to define FinTech, which I did badly four years ago. I say badly because my definition back then was: FinTech [is] a new market that integrates finance and technology. This new market … The post When did FinTech become cool? appeared first on Chris Skinner's blog. Fintech Grid

Are these FinTech unicorns worth it?

Chris Skinner

There’s a regular itch that I feel in the back of my neck. I scratch it, but it won’t go away. The itch is an alarm call really, and it’s asking whether all this FinTech investment is worth it. Last year, $111.8 billion was invested in over 12,000 start-up FinTech … The post Are these FinTech unicorns worth it? appeared first on Chris Skinner's blog. Fintech Grid Uncategorized

Challenger banks don’t matter as they’re not a primary account

Chris Skinner

During Money 2020 Europe, I bumped into a chap from Monzo. No names mentioned, but he was buzzing and no wonder. The start-up has just boomed through two million users and is growing at over 60,000 account openings a week or 10,000 per day. Some think that number seems high, … The post Challenger banks don’t matter as they’re not a primary account appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid Numbers

Customers don’t want digital banking

Chris Skinner

So my snarky little friend Ron Shevlin wrote a piece on Forbes claiming that Americans don’t want a digital bank. As the guy who wrote the book Digital Bank you might think I would take offence to such a statement, but no. I agree with his content, just not his … The post Customers don’t want digital banking appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid Opinion

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Five phases of FinTech (2005-2027)

Chris Skinner

Three years ago, I blogged about three phases of FinTech. Three years later, I can expand on that theme and talk about five phases of FinTech. The five phases of FinTech are (dates are rough guide): Disruption (2005-2014) Discussion (2014-2017) Partnership (2017-2022) Integration (2022-2027) Renewal (2027+) Phase One: Disruption (2005-2014) … The post Five phases of FinTech (2005-2027) appeared first on Chris Skinner's blog. Fintech Future Grid

The reason digital is a leadership challenge and not a project

Chris Skinner

I blogged in March (Transforming the bank – three phases of change) about the method to make systems change happen to transform the bank. In another conversation, I then realised that there are three phases of organisational change to transform the bank. The first phase is a recognition that the … The post The reason digital is a leadership challenge and not a project appeared first on Chris Skinner's blog. Digital Bank Fintech Grid Opinion

When will the FinTech bubble burst?

Chris Skinner

Reading about FinTech unicorns and pizzas worth $80 million, you would think that the world was bubbling over with wealth. FinTech investments last year peaked at over $110 billion, more than double the year before, and IPOs for firms like Uber and WeWorks are seeing valuations in the stratosphere. Everything … The post When will the FinTech bubble burst? appeared first on Chris Skinner's blog. Fintech Future Grid Opinion

Why Chinese TechFin is the exception and not the rule

Chris Skinner

I picked up an interesting article from Reuters, about how Asian technology firms are moving into banking in a different way to Europe or America. The article says that Amazon and Alphabet / Google are far more interested in serving banks with cloud and advertising, rather than competing with them, … The post Why Chinese TechFin is the exception and not the rule appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid

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Data Science Fails: Building AI You Can Trust

The new DataRobot whitepaper, Data Science Fails: Building AI You Can Trust, outlines eight important lessons that organizations must understand to follow best data science practices and ensure that AI is being implemented successfully.

Platform, marketplace, ecosystem … buzzword bingo!

Chris Skinner

I encounter lots of banter about platforms, marketplaces and ecosystems, and do wonder in the flippant way people use them interchangeably whether they really understand what they are talking about. I’m sure many do but I’m also sure some people throw them into the conversation like a buzzword bingo game. … The post Platform, marketplace, ecosystem … buzzword bingo! appeared first on Chris Skinner's blog. Fintech Grid Opinion

Mobile payment adoption just might be on the verge of a breakthrough

Mobile Payments Today

Despite years of hype and expectations that failed to materialize, mobile payment adoption in the U.S. may be close to a breakthrough as issuers transition to contactless cards and retailers make significant upgrades in POS systems

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California’s fintech startups are invading New York

Bank Innovation

When two Irish brothers started Stripe Inc. together in 2010, there was little question about where they should put their headquarters. It had to be California. Now, though, Stripe is leaving the tech mecca of San Francisco, awash in tech talent and investor cash, and is in the process of moving its main office about 10 […]. Bloomberg Carousel Innovation Strategy Open Banking Payments New York Plaid San Francisco Stripe Uber

Blockchain is dead

Chris Skinner

I used to blog about blockchain and distributed ledger technology (DLT) almost once a week … four years ago. Today, I hardly blog about it at all. I guess it just shows what’s top of mind and what’s not at any time in FinTech and, right now, blockchain is not … The post Blockchain is dead appeared first on Chris Skinner's blog. Blockchain Digital Bank Fintech Grid Opinion Payments

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.