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Google, Facebook, Amazon and Co are NOT offering banking, so stop saying they are
Chris Skinner
NOVEMBER 18, 2019
In the last month, there’s been a wave of announcements from Facebook, Apple, Google and Amazon about banking.
2019
AI and the rise of digital humans in financial services
Insights on Business
MARCH 6, 2019
“AI is not going to replace managers, but managers who use AI will replace the managers who do not,” Rob Thomas, IBM General Manager of Data and AI predicted at IBM Think 2019. [1]
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Mobile payment adoption just might be on the verge of a breakthrough
Mobile Payments Today
JULY 30, 2019
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
Rebeca Romero Rainey: You are the backbone of our nation’s financing
Independent Banker
JUNE 30, 2019
“When our customers’ needs take center stage, we identify creative solutions to help them achieve their dreams.”.
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10 Ideas For Our Bank We Got From Wegmans
Banker to Banker
SEPTEMBER 4, 2019
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.
California’s fintech startups are invading New York
Bank Innovation
DECEMBER 3, 2019
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.
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The real reason people don’t change banks
Chris Skinner
NOVEMBER 26, 2019
Interesting conversation about switching accounts. I’ve had a few people saying that banks don’t have loyal customers, but they have trapped customers.
Banking is inherently sexist
Chris Skinner
NOVEMBER 11, 2019
Actually, it’s not just banking. It’s money. Money is about control – something I blog about regularly – and men control societies, economies and the world.
The best FinTech startups in Europe
Chris Skinner
AUGUST 11, 2019
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.
FinTech is on fire and London is burning …
Chris Skinner
JULY 18, 2019
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.
Banks need a purpose other than making money
Chris Skinner
JULY 28, 2019
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.
A new era of technology enabled financial risk management (Part 1)
Insights on Business
JUNE 18, 2019
In this series of blogs, we will focus on four transformative technologies with emerging risk applications that can help banks and financial institutions grow profitability and protect the enterprise.
Cashless payment capability boosts both cash and card sales in vending
Mobile Payments Today
MAY 16, 2019
Research confirms that cashless readers do not undermine cash sales in a vending machine. In fact, the cashless technology serves to improve both cashless and cash activity, particularly for machines doing lower volume sales
Rebeca Romero Rainey: We resolve to support you
Independent Banker
DECEMBER 31, 2019
“Our resolution is to continue to bring you the very best support for your prosperity, growth and success in the new year.”. As we enter a new year, we’re filled with a sense of anticipation for everything that will unfold in the coming 12 months.
The Price For Attention in Bank Marketing
Banker to Banker
JUNE 10, 2019
BANK MARKETING If you are still spending money on print and direct mail, we ask you why? Not only is it hard to track, but it is likely the least effective form of marketing that you can do. While building a brand is good, generating an emotional connection is better.
A Missouri bank is using tech to secure large deposits from public entities
Bank Innovation
DECEMBER 2, 2019
Bank of Franklin County, a Washington, Mo.-based based bank with $273 million in assets, is using ‘cash sweep’ technology to gain large deposits from public funds without having to put up its own assets as collateral.
Citi Launches Cross-Border Accounts Receivable Platform
PYMNTS
NOVEMBER 20, 2019
Citi is streamlining the cross-border collections process for its corporate treasury clients, the financial institution said Wednesday (Nov.
The end of FinTech
Chris Skinner
JULY 1, 2019
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.
Banks and FinTech Partnerships: a Clash of Extremes
Chris Skinner
JULY 10, 2019
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.
Are these FinTech unicorns worth it?
Chris Skinner
AUGUST 8, 2019
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
Big Banks AND Big Tech (not versus)
Chris Skinner
NOVEMBER 10, 2019
I’ve said for a while that the Big Tech giants will not become banks. Amazon and Alibaba will do a lot of bank-like activities, but they will never move into full-service banking, as in offering deposit accounts. Why won’t they?
The logic of digital change
Chris Skinner
JUNE 12, 2019
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”.
Stop money laundering with a proactive AML approach
Insights on Business
MARCH 18, 2019
The recently revealed $8.8 billion Troika Laundromat offshore money laundering scandal was a vast and complex deception.
How mobile payments are changing the restaurant industry
Mobile Payments Today
APRIL 12, 2019
Mobile payment acceptance is leading to rapid change in the restaurant industry, impacting everything from credit card use to delivery and online ordering as well as customer loyalty
When did FinTech become cool?
Chris Skinner
JUNE 3, 2019
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.
Challenger banks don’t matter as they’re not a primary account
Chris Skinner
JUNE 10, 2019
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.
Varo crosses 1 million customers, with plans to become a bank by 2020
Bank Innovation
OCTOBER 29, 2019
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.
Does ‘Google Checking’ Foreshadow Big Tech, FinTech Payments Changes?
PYMNTS
NOVEMBER 25, 2019
Banks and credit unions are certainly not on their way out, even as they face more pressure from challenger banks, FinTechs and Big Tech in the coming decade.
Customers don’t want digital banking
Chris Skinner
MAY 29, 2019
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.
Platform, marketplace, ecosystem … buzzword bingo!
Chris Skinner
JUNE 25, 2019
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.
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