Fast follower strategies = final failures

Chris Skinner

I was having dinner with a friend the other night, when he asked me: “what do you think about the fast follower strategy?” He then added that the major bank he’s working with are proud that this is their strategy.

Open Banking: Strategy and Presentation

Chris Skinner

Open Banking Strategy and Business Model from Chris Skinner And just in case it doesn’t make sense, here’s a … The post Open Banking: Strategy and Presentation appeared first on Chris Skinner's blog. I haven’t given away my slides and presentation for a while, as it’s part of my unique armoury, but I’m bored with my latest slide deck so here it is. ?

Digital and human: Inside BofA’s small business strategy

Bank Innovation

It’s a strategy that’s yielding results for the bank. Carousel Corporate Banking Innovation Strategy Lending Bank of America BofA small business bankingDigital-only lenders tout the speed and efficiency of their user experiences.

4 keys to a successful retail digital engagement strategy

Mobile Payments Today

But what does an effective strategy look like and how can businesses successfully create and execute against it As digital channel growth shows no sign of slowing down, it represents a significant revenue opportunity for brands, retailers and other consumer-facing businesses.

Walmart To Pilot Third-Party Fulfillment Strategy

PYMNTS

Walmart has revealed it is testing out a fee-based service called “Fulfilled by Walmart.”. The company’s U.S.

Hong Kong’s FinTech Strategy

Chris Skinner

So I was intrigued to see Hong Kong issue their FinTech strategy today. It will be important for Hong Kong to seek new job and business … The post Hong Kong’s FinTech Strategy appeared first on Chris Skinner's blog.

Funding Circle surpasses $10b in loans, plans aggressive partnership strategy

Bank Innovation

The nine-year-old company plans to continue to develop its “partnership strategy,” Bernard Martinez, U.S. Carousel Corporate Banking Innovation Strategy Lending Premium Startups Funding Circle online lenders peer-to-peer lending recessionFunding Circle, the U.K.-based

Changing Payments and Bank Strategy

Banker to Banker

BANK STRATEGY One item that should be on every bank’s strategic horizon is how to adapt to the changing face of payments. If you are one of those bankers that say, “Cash won’t go away in my lifetime,” you could be right.

Is it better to have a great strategy implemented badly or a bad strategy implemented well?

Chris Skinner

I was at a presentation where Robin Speculand, Singapore-based author and speaker, asked: Is it better to have a great strategy implemented badly or a bad strategy implemented well?

How Synchrony Financial Is Upgrading Its AML Strategy

PYMNTS

Five Dutch banks recently formed a group to protect their systems against money launderers, but only after three of them shook off fines and anti-money laundering (AML) strategy investigations. AML Strategies and Innovation Quirks.

Is your sales performance management mid-year correction strategy effective?

Insights on Business

Building a strategy and doing the right planning in order to achieve corporate objectives is the key to any business, and no doubt, planning sales compensation plays a crucial role in meeting those goals. What are some of the strategies or effective approaches you can turn to?

What's your cash strategy?

ATM Marketplace

It's a complex question with a simple answer: You need a cash strategy How do you future-proof your operations around paper currency while battling pervasive theories that have convinced 2 in 3 Americans they'll live to see the day cash goes extinct?

Inside N26’s US Fraud Protection Strategy

PYMNTS

In the latest Digital Fraud Tracker , PYMNTS examines how fraudsters are utilizing mobile and app-based channels for fraud attacks, as well as why fraudsters are still relying on phishing as a major fraud strategy even as they increase their use of new technologies and techniques.

Fraud 193

Inside Wealthfront’s lifelong customer loyalty strategy

Bank Innovation

Robo-adviser Wealthfront wants to become the center of its customers' financial lives. To do so, it's steadily added products beyond its core investment offerings, including a personal finance management tool called Path and banking services.

Temenos Chief Strategy Officer Leaves Company

Bank Innovation

Ben Robinson, chief strategy officer of Temenos, has left the company. Robinson was a key member of Temenos’s innovation operation, taking a leadership role, among other responsibilities, in managing Temenos’s engagement with the fintech startup ecosystem.

Deep Dive: How Banks Are Innovating AML Strategies In The Face of Global Fraud

PYMNTS

dollar as their currency of choice on the black market, which means American banks must alter their anti-fraud and AML strategies — especially as regulatory fragmentation divides the U.S. FIs will have to consider consumers as they craft strategies to shut cybercriminals down.

Should Your Digital Marketing Strategy be Your Only Marketing Strategy?

ForwardBanker

They say the financial services industry is a decade behind other industries with the move to digital marketing strategies. The post Should Your Digital Marketing Strategy be Your Only Marketing Strategy?

BofA Opening More Financial Centers to Support Digital Strategy

Bank Innovation

While many banks are shutting down branches, Bank of America is adopting a "high-tech, high-touch" strategy, which will result in the addition of 350 branches, or what it calls "financial centers," across the country over the next two years.

How Cybersecurity Tries To Keep Up With Attackers’ Evolving Strategies

PYMNTS

Though the tactic is unusual, cybersecurity experts warn the strategy could signal an increasing use of so-called “deepfake” technology to infiltrate systems and steal company cash. In response, however, cybersecurity companies, businesses, and government officials are similarly exploring new strategies to combat this threat. Below, PYMNTS looks at some of the numbers behind changing cybersecurity strategies.

SMBs Shift Their Cash Management Strategies

PYMNTS

Recent data has warned that small business (SMB) optimism is beginning to drop after months of record highs. It wasn’t altogether unexpected, though: After all, what goes up must come down. Yet, amid talk of declining optimism and an impending recession in the U.S.,

Why WeWork’s IPO Strategy Could Make Investors Swipe Left

PYMNTS

Which of the above would apply to We’s IPO strategy? That last strategy speaks volumes. Investing in IPO s is a bit like dating. The firms going public want to make themselves look as attractive as possible.

Inside Wells Fargo’s global payments strategy

Bank Innovation

Wells Fargo, through its partnership with cross-border B2B payments provider TransferMate, is showing its global payments ambitions.

Vision Fund To Downshift Strategy Following Uber, WeWork

PYMNTS

SoftBank CEO Masayoshi Son is reportedly reconfiguring his strategy for investing with his latest Vision Fund due to the struggles of companies like Uber and WeWork.

How Square’s Orders API Became Central To Its Strategy

PYMNTS

When Square released its first set of developer application programming interfaces (APIs) about five years ago, the focus was to attract partners able to give its sellers tools to more effectively manage their point of sale data.

Why Small Business Owners Should Always Have An Exit Strategy

PYMNTS

Yet, once a company starts to churn a profit, business owners rarely consider their strategy of an eventual exit or sale. Hundreds of thousands of new small businesses (SMBs) open their doors every year in the U.S., be them physical or digital.

Starling Debuts New Business Lending Strategy

PYMNTS

challenger Starling Bank is moving forward with plans to introduce business lending services, reports in Specialist Banking said this week, with the bank revealing new details about its strategy.

Developing a PaaS Migration Strategy

Perficient Financial Servies

In this blog we will look at the steps to create a migration strategy to PaaS including re-platforming legacy applications. Application migrations are often tied to a larger business-level, digital-transformation strategy.

Inside Domino’s Data Strategy For Driving Customer Loyalty

PYMNTS

Technology is an essential ingredient that connects consumers with their favorite food brands. Whether they have a hankering for burgers, pizza, tacos and any other type of fare, consumers have a wide range of digital channels to place orders for delivery or for eating in-restaurant.

Lloyds Bank Marks $4.1B for Digital Strategy

Bank Innovation

British bank Lloyds has put aside £3 billion ($4.1 billion) for digital development and growth, the bank announced today.

Aiming high and low: Inside Personal Capital’s customer strategy

Bank Innovation

For Personal Capital, the path to scale is to go broad. As a result, the Redwood Shores, Calif.-based

Western Union Talks Strategy, Financial Forecast With Investors

PYMNTS

Western Union Company is meeting with investors and analysts about strategy updates and its three-year financial outlook, the company said in a press release on Tuesday (Sept. The new strategy aims to address the growing demand for fast and secure cross-border transfers and payments. .

Reckon Shifts Strategy In MYOB, Xero Rivalry

PYMNTS

Australian small business accounting company Reckon is shifting its competitive strategy against the industry’s top leaders, MYOB and Xero, reports in the Australian Financial Review said Tuesday (Feb.

Bankers reflect on failures as they evolve their customer strategies

Bank Innovation

The idea of a customer-obsessed culture, Amazon’s oft-cited mantra, is making its way into bankers’ customer approaches. One pillar of this is owning up to failures.

How PSD2 Is Changing ING Bank’s API Strategy

PYMNTS

Banks and merchants are racing to meet the Strong Customer Authentication (SCA) deadline as September 2019 approaches.

Aligning with ‘leaders’: OakNorth’s Nooriala on its partnership strategy

Bank Innovation

In a bid to grow its customer base, OakNorth Bank is partnering with Smarterly, a workplace savings and investment platform, the company announced this week.

A Checklist For Any Bank Considering a Payment Strategy

Banker to Banker

Below, we highlight our ten considerations when developing a payments strategy.

 Uber And Lyft Earnings Tell Tales Of Two Strategies

PYMNTS

For Lyft, the strategy crystalizes along transport and management has said that revenue per active rider remains a key driver of results. The difference in strategy is spotlighted across a few metrics.

How to differentiate your mobile payments strategy

Mobile Payments Today

Keith McAuliffe, the general manager of the financial services sector for Solace, believes it's necessary for providers to to cultivate the right experience for individual audiences

A Loan Strategy Given Lower Rates

Banker to Banker

INCREASING LENDING PROFITABILITY Many industry analysts are increasingly gloomy on the banking industry, trimming expectations for net interest margin, interest income, and total profits.

Walmart Pivots On Brazil eCommerce Strategy, Focuses On Physical Stores

PYMNTS

The company is working in a new omnichannel strategy which will be later announced,” Walmart Brasil said in a statement on Friday (May 10). Walmart Brasil has announced it will shutter its eCommerce division in Brazil and focus on physical stores, according to a report by Reuters.

Ant Financial’s Strategy for AI, Blockchain, Cybersecurity and more

Chris Skinner

I was honoured to accept to be the moderator of the afternoon and guess I was chosen because Alipay and Ant Financial are a … The post Ant Financial’s Strategy for AI, Blockchain, Cybersecurity and more appeared first on Chris Skinner's blog. I’ve been flying around a bit and was lucky enough to find myself onstage the other day, chairing the Ant Financial Technology Forum at Money20/20 Singapore.

Clearing Up The Strategy Fog

Gonzobanker

Do you know the strategy of the bank or credit union that you work for? Self-deception regarding life’s realities is a great coping strategy. You’re not alone, and it’s really not your fault that you don’t know your firm’s strategy.

Inside Citizens Bank’s point-of-sale lending strategy

Bank Innovation

As checkout loan startups like Affirm, Klarna and Bread garner funding and grow relationships with retailers, banks are putting up a formidable line of defense. Their pitch to retailers is their resources, data and brand recognition. Over the past two years, Providence, R.I.-based