2018

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Big banks are not feeling the FinTech heat (yet)

Chris Skinner

A few years ago Jamie Dimon was renowned for saying that bitcoin developers “are going to try and eat our lunch” and that silicon valley was coming to get the banks. Three years later, it’s not quite the case. The big banks are getting bigger, and the FinTech community is nibbling … The post Big banks are not feeling the FinTech heat (yet) appeared first on Chris Skinner's blog.

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Most People Don’t Know What Cryptocurrencies Are

Bank Innovation

Sure, cryptocurrency and bitcoin might seem like the talk of the town, but a recent survey found that most people don’t even know what a digital currency is. According to a survey conducted by cryptocurrency platform COBINHOOD, only 56% of the 1,035 Americans surveyed knew that cryptocurrency is a digital decentralized currency designed as a […].

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How connected cars are driving connected payments

Payments Dive

All the necessary software and hardware components together with the processes for the creation of the connected car pay at pump use case are currently available. The creation of a commercially viable, fully integrated solution is the next step and there are no technical or regulatory barriers to doing so.

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Celebrating International Women’s Day with more than 100 years of IBM empowering women

Insights on Business

“If the bringing of women – half the human race – into the center of historical inquiry poses a formidable challenge to historical scholarship, it also offers sustaining energy and a source of strength.” – Dr. Gerda Lerner. On this International Women’s Day 2018 and to continue Women’s History Month , I would like to acknowledge and reflect upon some of the extraordinary, and often understated, work that women have contributed not just to this company, but to the good of

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The State of Automation in Financial Services 2024 Report

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

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Chip-and-skin: Payments’ Matrix moment

Payments Source

Microchip implants could be considered the ultimate form of mobile payment — skipping the smartphone altogether in favor of giving people bionic abilities. And a small segment of the population is already lining up to try it out.

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Why Do Fellow Bankers Give Wells Fargo a Free Pass?

Gonzobanker

Wells Fargo has been busy assaulting the reputation of bankers—and bizarrely, bankers don’t seem to care. Not even a little bit. Seriously, Wells has been exposed for loudly and publicly brutalizing its customer base, and we trusted industry players sheepishly shrug it off with an, “Ah, that’s just Wells being Wells…”. In just the past two years, the San Francisco giant has revealed a mind-blowing pattern of deceptive business or unfair practices entirely focused on earnings at the expense of th

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How Blockchain Will Revolutionize Invoice-Backed Financing

Let's Talk Payments

The recent spike in the value of Bitcoin has captured the imagination of many people around the world. It is hard to believe that the cryptocurrency, which recently crossed the.

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Alibaba becomes Top 10 Global Bank

Disruptive Finance

A few years ago, I wrote about the inexorable rise of Google and Amazon in finance. The conclusion from the piece was “if you prefer fast action and major Fintech disruption from tech powerhouses, then forget Amazon, Google or Apple, and watch Alibaba or Tencent… Ant Financial, the finance arm of Alibaba, is valued $50bn.” This was 2.5 years ago, and(.).

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A Guide To Corporate Innovation: 19 Strategies To Drive Innovation Now

CB Insights

After the success of Corporate Innovation Theater , we wanted to issue a more comprehensive guide to corporate innovation. Something actionable and easy to digest. Given the importance of innovation to drive the longevity, growth, and competitiveness of large corporations, here are 19 bulletproof strategies you can use to look innovative. Note: We’ll be revealing data on the effectiveness of accelerators, how not to F up M&A, and whether having a Chief Digital Officer drives better sto

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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5 Resolutions For Digital Banking Success in 2019

The Financial Brand

As financial institutions enter 2019, there are 5 goals all organizations should consider to become more competitive digital banks. The post 5 Resolutions For Digital Banking Success in 2019 appeared first on The Financial Brand.

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How much did Nigel Farage make out of #Brexit?

Chris Skinner

I picked up Bloomberg’s Business Week in the airport lounge at the weekend. It always has interesting reading, but this one stood out because of the front-page cover. Of course, it should have occurred to me that Brexit was a great way to make money, and the article outlines how … The post How much did Nigel Farage make out of #Brexit? appeared first on Chris Skinner's blog.

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From Startup To Global Payments Giant: Visa Turns 60

PYMNTS

Sixty years ago today (Sept. 18), a San Francisco startup launched by sending roughly 60,000 credit cards to consumers living in northern California. This startup was a bank, and its innovation was a single card that could be used by consumers to purchase things on credit from many different merchants. The card eliminated the need for consumers to establish credit with multiple merchants, then carry multiple cards issued by each of those merchants to pay for purchases over time.

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Smartwatch, bracelets help broaden mobile payment options amid competition

Payments Dive

Consumer demand for smarter wearables is leading watch makers and others to explore new approaches to embedded payment technologies.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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How AI is redefining financial crimes detection technologies

Insights on Business

There is a quote in the most recent Star Wars movie, “The Last Jedi” that gets me thinking about innovation; ‘We are the spark, that will light the fire” The Star Wars movies, books, games and mythos is a masterfully woven tapestry telling the tale of a little guy triumphing over an established, organized and technologically advanced pan galactic empire.

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One world, one key: The growing urgency for a common digital ID

Payments Source

The digital ID market has massive potential, but many fundamental problems that must first be overcome. Among them: The companies best positioned to provide a viable digital ID platform are not the ones best positioned to benefit from it.

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Platformification â?? the end of banks but the future of banking?

Bobsguide

Niels Bohr, the Danish, Nobel-prize winning physicist once said “prediction is very difficult, especially if it’s about the future” However, there is something about human nature that compels us to make predictions, and there is something else about our nature that seems to.

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Jack Henry & Associates Acquired BOLTS Technologies: So What?

Gonzobanker

Digital account opening — and more broadly Digital Sales – is HOT. Many banks and credit unions are wrestling with it this year. In fact, according to recent research , it is the single hottest application being implemented or replaced right now in banking. The vendor market for digital account opening has seen a number of new providers enter the market to challenge the legacy account opening solutions, both core provided and independent third-party providers.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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4 Skills Great Innovators Share by Greg Satell

Let's Talk Payments

If creativity is about having unique ideas and new ways to do things, innovation is all about making those ideas happen. In that sense, the bridge between creativity and innovation is made from the bricks of execution. That is when the rubber meets the road. One of the key characteristics of someone who innovates is that they run small pilots to test their hypothesis.

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Digital banking? Isn’t that just an app?

Chris Skinner

I meet a lot of senior executive teams of large banks. Some are visionary, many are committed and a large number understand that life is changing. Few understand how. I talk to them about the fintech world of change and how millennials are reshaping banking, from Stripe, started by two … The post Digital banking? Isn’t that just an app? appeared first on Chris Skinner's blog.

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Teach children the things that machines cannot learn

Chris Skinner

I often talk about teaching children to learn what machines cannot learn. Our system of education was created in the Industrial Revolution, and is based upon kids being stuffed with facts, stats and dates. They learn to parrot-fashion repeat things, and are tested to see if they can remember. It’s … The post Teach children the things that machines cannot learn appeared first on Chris Skinner's blog.

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Compliance will kill the bank

Chris Skinner

I was talking with a banker at a recent conference, and was surprised by his attitude. He’s not worried about Amazon, Google or Alibaba; he’s not concerned about FinTech start-ups, Revolut or Monzo; he doesn’t really care about Open Banking and software; as for machine learning, artificial intelligence (AI) and … The post Compliance will kill the bank appeared first on Chris Skinner's blog.

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

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How bad does a banker have to behave to be jailed?

Chris Skinner

Talking of banks not being trusted, do we have reasons to mis-trust them? Yes, many. Not only are many banks regularly called out for bad behaviour, but some have gone to the extremes of forging customers signatures. Then there has been the UK’s PPI scandal and Wells Fargo’s false account … The post How bad does a banker have to behave to be jailed?

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Digital banks are 35+ times more productive than traditional banks

Chris Skinner

I’m launching the new book Digital Human in New York on the evening of April 12. If you would like to get a signed copy of the book, just register here. BTW, I’ve also heard a lot of people have been frustrated that Amazon cancelled their pre-orders of the new … The post Digital banks are 35+ times more productive than traditional banks appeared first on Chris Skinner's blog.

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20 of Europe’s hottest fintech start-ups to watch in 2018

Chris Skinner

I really liked this article by John Kennedy over at Silicon Republic, and decided to reproduce it here as it’s fitting for the kickoff of 2018. Who are the fintech start-ups in Europe worth banking on in the year ahead? Europe is in the grip of a fintech revolution and 2018 … The post 20 of Europe’s hottest fintech start-ups to watch in 2018 appeared first on Chris Skinner's blog.

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Gartner: you’re better than this

Chris Skinner

I got this headline today: Most banks will be made irrelevant by 2030 – Gartner Within 12 years time, 80% of financial firms will either go out of business or be rendered irrelevant by new competition, changing customer behaviour and advancements in technology, according to forecasts by Gartner. And it … The post Gartner: you’re better than this appeared first on Chris Skinner's blog.

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.