2019

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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.

Examples 527
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Four digital banking trends to watch in 2020

Payments Dive

The growing phenomenon of direct, digital banking and Silicon Valley's entry into the payments business are posing a series of challenges to traditional banking institutions. NCR's Doug Brown explores the landscape for 2020 to determine how these trends will impact the global banking business moving forward.

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The Not-So-Beaten Path To B2B Payments Real-Time Ubiquity

PYMNTS

The global payments ecosystem’s path to faster and real-time payments ubiquity is an evolution, not a revolution. That is to say, mass adoption will take time, and the factors driving that adoption will almost certainly continue to change and shift as end users’ needs do the same. Among corporates, there is an increasing demand that their global payment activity is able to keep up with the pace of doing business.

Payments 294
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AI and the rise of digital humans in financial services

Insights on Business

“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] A 16 trillion dollar opportunity, AI will fundamentally change every business process, every role, and how organizations will impact their industries. AI implementation grew by 270% in the past four years, and 37% in just the past year, according to a 2019 Gartner study.

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Managing Default Rates: A Balancing Act in a Multistate Lending Environment

Unlock the secrets to optimizing returns while navigating complex state regulations. With this webinar, gain exceptional insights from industry leaders, each with vast experience and expertise in commercial lending. They will delve into critical aspects of managing default rates in today’s dynamic lending landscape, including the formidable task of managing default rates across diverse states, each with its own legal intricacies and restrictions.

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Banks forced to turn to machine learning to tackle compliance burdens

Bobsguide

Banks are increasingly turning to machine learning to innovate heavily manual and costly middle and back office mission critical compliance management processes, say market participants. “Banks are already in a period of change, mostly in the more business- driven activities in the front.

More Trending

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The Most Influential Women in Payments, 2019

Payments Source

Our annual Most Influential Women in Payments feature, now in its seventh year, highlights the women who are creating change and opportunities in the payments industry. For the first time, the editors of PaymentsSource have also recognized one woman for lifetime achievement.

Payments 167
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Quadratic Payments: A Primer

Vitalik Buterin

Special thanks to Karl Floersch and Jinglan Wang for feedback. If you follow applied mechanism design or decentralized governance at all, you may have recently heard one of a few buzzwords: quadratic voting , quadratic funding and quadratic attention purchase. These ideas have been gaining popularity rapidly over the last few years, and small-scale tests have already been deployed: the Taiwanese presidential hackathon used quadratic voting to vote on winning projects, Gitcoin Grants used quadrat

Payments 144
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Game Changing Startups 2020

CB Insights

The past few decades have seen unprecedented levels of innovation, especially in what Peter Thiel calls the world of “bits,” or software, internet, and mobile technology. According to Thiel, however, there’s a sense that the tech space “could be doing so much more,” especially in what he calls the world of “atoms” or efforts to create things like new forms of energy, medicine, and transport — spaces that tend to be costly and challenging to tackle, but a

Analytics 101
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Here is how IBM’s Data Scientists look at Data-Driven Future

Dataconomy

An aspiration to create a data-driven future has resulted in massive data lakes, where even the most experienced data scientists can drown in. Today, it’s all about what you do with that data that determines your success. And IBM has the recipe for this. Read on. “Without data, you simply can’t. The post Here is how IBM’s Data Scientists look at Data-Driven Future appeared first on Dataconomy.

Data 101
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The ROI of Business Lending Platforms

Financial institutions continue to look to quantify the impact of new technologies. Meanwhile, business lending technologies have grown more popular in the industry. However, understanding the impact of said technologies means understanding how to increase your revenue while decreasing your costs. This is key for the growth of your organization. Biz2X created this eBook to analyze the ROI of business lending platforms and learn about the short-term and long-term benefits of said platforms.

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Introducing Women in Banking: Next (and how to apply)

American Banker

Recognize high-achieving women in the pipeline and celebrate diversity across the industry. Nominate a female executive who is age 40 or under for Most Powerful Women in Banking: Next.

How To 101
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Are banks adapting in the right way?

Chris Skinner

I picked up a few innovative changes taking place this week within banks. In fact, I should point out that banks are not static beasts, as many claim. They are changing all the time, doing things all the time, adapting all the time. The question is: are they adapting in … The post Are banks adapting in the right way? appeared first on Chris Skinner's blog.

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Black Friday sets online, mobile shopping records

Payments Dive

Black Friday shopping figures in the U.S. showed more consumers embracing mobile and general online shopping for the best deals. Meanwhile average order volume increased, showing more willingness to make big ticket purchases via smartphone.

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Does ‘Google Checking’ Foreshadow Big Tech, FinTech Payments Changes?

PYMNTS

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. Consumers, after all, tend to trust their financial institutions (FIs) to safeguard their money – and the data about their money – and they remain largely satisfied doing business with them. But as a recent Google announcement demonstrated, FIs are engaging with technology players in new ways as together, they seek to create ecosystems tha

Fintech 272
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How to Stay Competitive in the Evolving State of Martech

Marketing technology is essential for B2B marketers to stay competitive in a rapidly changing digital landscape — and with 53% of marketers experiencing legacy technology issues and limitations, they’re researching innovations to expand and refine their technology stacks. To help practitioners keep up with the rapidly evolving martech landscape, this special report will discuss: How practitioners are integrating technologies and systems to encourage information-sharing between departments and pr

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EQ Bank Built Its All-Digital Bank On Modern Technology

Tom Groenfeldt

EQ Bank has brought all-digital banking to Canada with Temenos T24 core banking technology.

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Toxic Business: Banned in the European Union, poisoning Kenya

Bankelele

Agriculture is one of Kenya’s key income earners contributing 24% of GDP and employing 75% of the population either directly or indirectly. As a result, the demand for pesticides is high and increasing with the need to increase agricultural production to keep up with population increase. Imported chemical pesticides in the market account for 87% […].

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The 5 Debates That Will Shape Fintech In The 2020s

Ron Shevelin

Debates concerning bank branches, AI, data, cryptocurrencies, and China will shape fintech in the coming decade.

Fintech 200
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Fiserv buying First Data in $22 billion deal to build fintech scale

Payments Source

Fiserv will acquire First Data in an all-stock deal with a value of about $22 billion that will combine two of the financial services industry's largest technology and processing companies. Fiserv shareholders will own almost 58 percent of the combined company, with First Data's shareholders holding the rest. The acquisition is expected to close in the second half of 2019.

Fintech 167
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Value-Driven AI: Applying Lessons Learned from Predictive AI to Generative

Speaker: Data Robot

Enterprise AI maturity has evolved dramatically over the past 5 years. Most enterprises have now experienced their first successes with predictive AI, but the pace and scale of impact have too often been underwhelming. Now generative AI has emerged and captivated the minds and imaginations of leaders and innovators everywhere. Join our DataRobot experts to reflect on lessons learned from helping hundreds of enterprises grow their AI maturity over the past 5 years.

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Hard Problems in Cryptocurrency: Five Years Later

Vitalik Buterin

Special thanks to Justin Drake and Jinglan Wang for feedback. In 2014, I made a post and a presentation with a list of hard problems in math, computer science and economics that I thought were important for the cryptocurrency space (as I then called it) to be able to reach maturity. In the last five years, much has changed. But exactly how much progress on what we thought then was important has been achieved?

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Everything You Need To Know About What Amazon Is Doing In Financial Services

CB Insights

In 2017, Andreessen Horowitz general partner Alex Rampell said that of all the tech giants that could make a major move in financial services: “Amazon is the most formidable. If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. While the anticipation for Amazon’s plunge into banking gets louder each year, it’s important to first understand Amazon’s existing strategy in financial services — what Amazon has launched and bu

Payments 101
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Automated Knowledge in 2020: What to expect from AI & Machine Learning

Dataconomy

The year 2019 will be remembered in the software world as the year when containerization, cloud native architectures, and Machine Learning broke out into the mainstream. As we approach the end of the decade, it’s time to look forward to the year 2020 and make some predictions about where these. The post Automated Knowledge in 2020: What to expect from AI & Machine Learning appeared first on Dataconomy.

Software 101
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Wells Fargo, Philadelphia reach settlement in redlining lawsuit

American Banker

Without admitting wrongdoing, the bank has agreed to contribute $10 million to city programs promoting home ownership for low- and moderate-income residents.

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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

Speaker: Joe Buhrmann, MBA, CFP®, CLU®, ChFC® Senior Financial Planning Practice Management Consultant eMoney Advisor

During an era of evolving consumer preferences, the banking sector is undergoing a profound shift. As customers continue to broaden their perspectives, banking professionals must support their customers' financial wellness by providing holistic financial advice that aligns with individual goals and circumstances. Without adapting, financial institutions will find that loyalty may crumble amid uncertainty.

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What would you rather talk about: sex, religion, politics or money?

Chris Skinner

My blog often seems to return to the subject of sex, whether it be sexism or basic sex. It is for the reason that money and rumpy-pumpy are the twin engines powering everything we do, as Jeremy Clarkson so succinctly put it. However, today I’m not writing about sex per … The post What would you rather talk about: sex, religion, politics or money?

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Balancing payment innovation and trust

Payments Dive

The rise of digital payments has led to a series of complex issues surrounding how to make those transactions more secure. Rapid innovation in the global payments space has created new opportunties for bad actors to expoit these new ecosystems and requires ways of thinking on how to approach the subject.

Payments 438
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ID2020 Alliance Unveils Digital ID Program

PYMNTS

At its annual summit in New York , the ID2020 Alliance announced the roll out of a digital identity program with the Government of Bangladesh ; Gavi, the Vaccine Alliance; and new partners in academia, government and humanitarian relief. “Digital ID is being defined and implemented today, and we recognize the importance of swift action to close the identity gap,” said Dakota Gruener, executive director of ID2020, in an announcement.

New York 280
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The Biggest Technology Trends That Will Impact Banking in 2020

The Financial Brand

The banking technology trends for 2020 will use 5G speed, integrate humans and digital and prepare for cyberthreats. The post The Biggest Technology Trends That Will Impact Banking in 2020 appeared first on The Financial Brand.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.