British bank Lloyds has put aside £3 billion ($4.1 billion) for digital development and growth, the bank announced today. MORE
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. MORE
… The post Lloyds and JPMorgan: a tale of two strategies appeared first on Chris Skinner's blog. It’s interesting looking at banks’ strategic updates and how integral digital is to everything in the banks now. Now I don’t have time to read all of these updates and reviews, but two did catch my eye recently: Lloyds Banking Group in the UK and JPMorgan Chase in the USA. Digital Bank Fintech Grid Numbers Opinion MORE
The Omni Strategy. Going forward, Galvin believes ATMs will continue to hold a critical place in the omnichannel strategy that banks must adopt to stay relevant — a strategy that will leverage mobile, online banking, call centers (which are able to provide personal interactions at a lower cost) and, yes, in some instances, branches. MORE
Can bankers interested in developing new business benefit from developing expertise in one or more segments or niches? I think they can. Niches can be a springboard to success in banking. Specialists with strong personal brands often attract quality leads. MORE
Citigroup has a digital-heavy, branch-light business approach that extends beyond its National Digital Bank platform (announced in March and currently in testing phase), according to Stephen Bird, CEO of Citi’s Global Consumer Banking. For starters, Citigroup doesn’t have many physical branches, and it has no plans of changing that, according to Bird, who spoke yesterday […]. MORE
That’s not the only strategy the social media giant plans to deploy, though. Facebook is bent on its strategy to become the next big video hub, and it’s willing to spend up to $1 billion in 2018 to do it. Facebook expects a slowdown in its core business in the near future, a prediction that has been cited as a primary driver behind its launch of Facebook Watch. MORE
Does your Insurtech strategy fit into your claims strategy? Hence, if the claims process is to be connected, and claims is the most important part to our business, then our overall business processes must be connected to our claims strategy. MORE
Yet, understanding and developing a clear strategy for FX risk mitigation can be elusive, even for the largest firms. According to Frey, if an exchange rate shift of more than 10 percent would negatively impact a company’s PNL (profit and loss) or ability to generate revenue, then, regardless of size, that company should deploy an FX risk mitigation strategy. MORE
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? MORE
Makeup subscription service Birchbox is realigning its business strategy to get shoppers to buy more full-size and full-price products. “We are not in the business of selling people samples,” said Birchbox CEO and Cofounder Katia Beauchamp in an interview with Bloomberg. “That would be a really boring business.” MORE
In an effort to restock stores faster, Target is experimenting with a new strategy to distribute products to its stores. The retailer is testing the new strategy at a warehouse in New Jersey. With the new strategy, he said the center could send stores “five bottles of shampoo, a case of ketchup, two polo shirts on hangers and a pallet of water, all prepared to move out directly to the sales floor. MORE
In my previous post we looked at the importance of crafting the right digitally-enabled risk management approach—a forward-looking strategy that helps encompass the rapid pace of technology change. Managing Risk Featured Risk management bank risk management risk management strategy MORE
Since the new MBL rule from the NCUA went into effect in January, many credit unions are considering member business lending as a growth strategy. As discussed in a Sageworks whitepaper, “ Mitigating Top Member Business Lending Risks ”, developing a strategy is key to successful MBL growth. Whether you are developing a new MBL program or beefing up an existing one, an effective strategy plays an integral part to an MBL program’s success or failure. MORE
Amazon has mulled an entrance to this market a number of times before, but now it is in the process of hiring a new general manager to actually come up with a strategy, meaning those talks could be a little more serious this time. Three Cheers For New Alcohol Delivery Strategy. In this week’s tracker, Amazon slowly spreads into trickier territory: prescription pharmaceuticals, smart glasses, and shipping alcohol (which is a logistical nightmare). MORE
I try to find time throughout the week, but always on Tuesdays, I dedicate a full day to strategy. Ed’s accomplishments include guiding private companies through private and public equity offerings, mergers and acquisitions and the development of financial strategies for growth. MORE
Alisdair is a technology entrepreneur and brings nearly two decades of industry experience to his role leading product management and strategy for ThreatMetrix. Armen leads worldwide marketing strategy and execution for ThreatMetrix. MORE
Part One: Community bankers discuss going digital and its impact internally Technology CSuite Community Banking Fintech. 1Community Banking MORE
A t PYMNTS we get to see and comment on any number of ignition strategies for any number of platforms. And then there are those that forgot that free is not an ignition strategy, so just fizzle away. But this week , we observed an ignition strategy that was perhaps the most unusual and, quite possibly, one of the more brilliant examples of creative thinking around platform ignition. We would not recommend, however, the Queen Bey ignition strategy for most platforms. MORE
A proper enterprise data strategy can empower a business. A data enterprise strategy is a well-rounded direction for an organization to potentially harness data-driven capabilities. A great enterprise data strategy is composed of 4 major factors. When the strategy is relevant, the information is contextual to the organization, therefore it’s not generic. This strategy should accelerate the business. MORE
It has also had to shift strategies to keep up with competition from other QSRs — which is no longer just about the “burger wars” between McDonald’s, Burger King and Wendy’s , but has expanded to the breakfast hour as more chains crowd into the category that — for a while at least — set McDonald’s apart. So, it’s clear that these strategies can succeed — it just depends on the market. McDonald’s has not had an easy road. MORE
Cyberattacks on American financial institutions are at an all-time high, with more and more cybercriminals eyeing consumers’ financial data and other sensitive information. MORE
Small business accounting platform MYOB recently made the migration to Amazon Web Services (AWS), and it’s taking its data along for the move. Reports Friday (Dec. 16) said Australia’s MYOB is consolidating all of its data onto AWS as it looks to streamline its data management efforts, which are currently divided among reporting teams. MORE
Businesses today are extra careful about where they place their money — if they invest at all, that is. This week, we take a look at how companies are investing. In some cases, firms are investing in outsourced services to stay ahead of the competition. In other scenarios, it’s a business owner’s friends and family doing the investing. PYMNTS also explores the venture capital and lending spaces as professional investors make some changes and as businesses look to invest in themselves. MORE
Introducing a new product is always a head scratcher for bankers. How to price and how to create a promotional incentive are just two of the many difficult questions that bankers have to solve. For example, do you price a new service with annual fees or monthly fees? MORE
In our dealing with hundreds of banks and thousands of borrowers, we observe strategies and structures that have worked for our customers. We would like to share ten strategies that we and other community banks have effectively deployed to win bus MORE
It also allows you to effectively measure trading strategies to see what is working and what isn’t. One of the most exciting and intriguing financial services regulatory dramas is playing out right before our eyes. Concern over regulators getting hacked. MORE
In many cases, the stores have been slow to develop their own eCommerce strategies. Traditional retail locations, ranging from fashion and home furnishings to hardware and department stores, have been forced to make significant changes in the face of heightened competition from eCommerce giants like Amazon and omnichannel powerhouses, like Walmart and its online unit, Jet.com. MORE
Before Bruce Doolin Henderson opened the doors of Boston Consulting Group on July 1, 1963, the concept of “competition” barely existed in American business culture, let alone the concept of strategy. Get exclusive access to our survey of 677 corporate strategy executives. MORE
Federal Reserve has named a new payments strategy director tasked with heading the agency’s payment system improvement initiatives. The position means Sapenaro will lead the Fed’s efforts as outlined in a paper titled Strategies for Improving the U.S. According to Esther George, Federal Reserve Bank of Kansas City president and chief executive officer, Sapenaro played a prominent role in developing those strategies. The U.S. MORE
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. MORE
” Perhaps the biggest signal of where vendors are failing in their online strategies stems from TimeTrade’s finding that 84 percent of online business shoppers say they either “always” or “frequently” do not receive responses to their questions related to a potential purchase. B2B suppliers aren’t entirely ignoring their eCommerce strategies, though. MORE
Quick Bridge Financial is revamping its strategy to provide working capital loans to SMEs. The alternative lender announced Tuesday (Nov. 15) that the company is now called QuickBridge and is expanding into the direct-to-business lending sector. The company offers a platform for SMEs to access short-term working capital financing. MORE
Retail Amazon brick and mortar delivery distribution Drive Up ecommerce fulfillment Grand Junction integrated supply chain News Restock Retail Strategy Shipt TargetThey say it’s healthier to eat several small meals throughout the day instead of two or three big ones. Can the same logic be applied to shipments? MORE
With the PyeongChang 2018 Olympic Winter Games not too far away, it’s high season for Team USA merchandise. Fanatics , a company that sells Team USA merchandise, has taken a novel approach to Olympic retail this year with a physical store in a major U.S. The store marks a milestone for Team USA: It’s their first in-person retail store outside the Olympic Training Center in Colorado. It will stay open through the end of the games on Feb. MORE
Companies must align RegTech efforts with the organization’s strategy and overall objectives, ranging from geographic expansion to delivery channels. Marry tech and talent, then risk management can pay dividends, notes an upcoming PYMNTS webinar. However, for many financial services firms, RegTech’s (Regulatory Technology) potential is limited by any number of causes. MORE
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? MORE
Even an infinite scroll only generates a finite number of ad clicks. Facebook has just about maximized the amount of money it can make from people scrolling their newsfeeds, so the social media giant is shifting its ad placement focus to sister platforms WhatsApp, Instagram and most recently, Messenger. Despite a rousing success in Q3 of last year, with 4.67 MORE
In today’s world implementing effective EDI strategy is very challenging. Challenges You’ll Face Without An EDI Strategy: Unable to reconcile EDI transactions to meet the required levels of service. In order to effectively implement the EDI strategy, the Edifecs Transaction Manager should be a leading solution for transaction lifecycle management. Healthcare Strategy connected health EDI Strategy healthcare analytics healthcare IT MORE
Jan Koum, who co-founded WhatsApp with Brian Acton, is leaving the company after disagreements over the messaging service’s strategy, as well as Facebook’s attempts to use its personal data and weaken its encryption. “It’s The co-founder of WhatsApp, a messaging service owned by Facebook , announced he is leaving the company. MORE
From QSRs to casual dining operations, restaurants are tapping into mobile ordering to capture busy customers with no time to dine in. MORE
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 MORE
But because those financial implications are difficult to precisely calculate, corporates today are struggling with their cybersecurity strategies. The ongoing data scandal at Facebook, or countless other data breaches and fake news stories dominating the headlines today, has certainly raised awareness among businesses of the need to upgrade their cybersecurity strategies. Researchers estimate U.S. eCommerce companies lost $6.7 MORE
Strategy Related Topics Chris Skinner
MAY 10, 2017
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.
PYMNTS
MAY 23, 2018
Cyberattacks on American financial institutions are at an all-time high, with more and more cybercriminals eyeing consumers’ financial data and other sensitive information.
Chris Skinner
NOVEMBER 30, 2017
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?
PYMNTS
SEPTEMBER 11, 2017
That’s not the only strategy the social media giant plans to deploy, though. Facebook is bent on its strategy to become the next big video hub, and it’s willing to spend up to $1 billion in 2018 to do it. Facebook expects a slowdown in its core business in the near future, a prediction that has been cited as a primary driver behind its launch of Facebook Watch.
PYMNTS
JUNE 25, 2018
Companies must align RegTech efforts with the organization’s strategy and overall objectives, ranging from geographic expansion to delivery channels. Marry tech and talent, then risk management can pay dividends, notes an upcoming PYMNTS webinar. However, for many financial services firms, RegTech’s (Regulatory Technology) potential is limited by any number of causes.
PYMNTS
MAY 14, 2018
In an effort to restock stores faster, Target is experimenting with a new strategy to distribute products to its stores. The retailer is testing the new strategy at a warehouse in New Jersey. With the new strategy, he said the center could send stores “five bottles of shampoo, a case of ketchup, two polo shirts on hangers and a pallet of water, all prepared to move out directly to the sales floor.
MZ Bierly Consulting, Inc.
OCTOBER 23, 2017
Can bankers interested in developing new business benefit from developing expertise in one or more segments or niches? I think they can. Niches can be a springboard to success in banking. Specialists with strong personal brands often attract quality leads.
PYMNTS
JUNE 27, 2018
Yet, understanding and developing a clear strategy for FX risk mitigation can be elusive, even for the largest firms. According to Frey, if an exchange rate shift of more than 10 percent would negatively impact a company’s PNL (profit and loss) or ability to generate revenue, then, regardless of size, that company should deploy an FX risk mitigation strategy.
Chris Skinner
MARCH 26, 2018
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.
Chris Skinner
APRIL 18, 2018
… The post Lloyds and JPMorgan: a tale of two strategies appeared first on Chris Skinner's blog. It’s interesting looking at banks’ strategic updates and how integral digital is to everything in the banks now. Now I don’t have time to read all of these updates and reviews, but two did catch my eye recently: Lloyds Banking Group in the UK and JPMorgan Chase in the USA. Digital Bank Fintech Grid Numbers Opinion
Sageworks
FEBRUARY 2, 2017
Since the new MBL rule from the NCUA went into effect in January, many credit unions are considering member business lending as a growth strategy. As discussed in a Sageworks whitepaper, “ Mitigating Top Member Business Lending Risks ”, developing a strategy is key to successful MBL growth. Whether you are developing a new MBL program or beefing up an existing one, an effective strategy plays an integral part to an MBL program’s success or failure.
PYMNTS
NOVEMBER 16, 2016
Quick Bridge Financial is revamping its strategy to provide working capital loans to SMEs. The alternative lender announced Tuesday (Nov. 15) that the company is now called QuickBridge and is expanding into the direct-to-business lending sector. The company offers a platform for SMEs to access short-term working capital financing.
PYMNTS
JUNE 5, 2018
It has also had to shift strategies to keep up with competition from other QSRs — which is no longer just about the “burger wars” between McDonald’s, Burger King and Wendy’s , but has expanded to the breakfast hour as more chains crowd into the category that — for a while at least — set McDonald’s apart. So, it’s clear that these strategies can succeed — it just depends on the market. McDonald’s has not had an easy road.
ForwardBanker
SEPTEMBER 2, 2017
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?
Banker to Banker
NOVEMBER 18, 2015
In our dealing with hundreds of banks and thousands of borrowers, we observe strategies and structures that have worked for our customers. We would like to share ten strategies that we and other community banks have effectively deployed to win bus
CB Insights
MAY 10, 2018
Before Bruce Doolin Henderson opened the doors of Boston Consulting Group on July 1, 1963, the concept of “competition” barely existed in American business culture, let alone the concept of strategy. Get exclusive access to our survey of 677 corporate strategy executives.
PYMNTS
MAY 15, 2018
Retail Amazon brick and mortar delivery distribution Drive Up ecommerce fulfillment Grand Junction integrated supply chain News Restock Retail Strategy Shipt TargetThey say it’s healthier to eat several small meals throughout the day instead of two or three big ones. Can the same logic be applied to shipments?
Bank Innovation
FEBRUARY 21, 2018
British bank Lloyds has put aside £3 billion ($4.1 billion) for digital development and growth, the bank announced today.
PYMNTS
DECEMBER 19, 2016
Small business accounting platform MYOB recently made the migration to Amazon Web Services (AWS), and it’s taking its data along for the move. Reports Friday (Dec. 16) said Australia’s MYOB is consolidating all of its data onto AWS as it looks to streamline its data management efforts, which are currently divided among reporting teams.
PYMNTS
JUNE 15, 2018
From QSRs to casual dining operations, restaurants are tapping into mobile ordering to capture busy customers with no time to dine in.
PYMNTS
MAY 1, 2018
Jan Koum, who co-founded WhatsApp with Brian Acton, is leaving the company after disagreements over the messaging service’s strategy, as well as Facebook’s attempts to use its personal data and weaken its encryption. “It’s The co-founder of WhatsApp, a messaging service owned by Facebook , announced he is leaving the company.
Insights on Business
DECEMBER 1, 2017
It also allows you to effectively measure trading strategies to see what is working and what isn’t. One of the most exciting and intriguing financial services regulatory dramas is playing out right before our eyes. Concern over regulators getting hacked.
Daily Fintech
MAY 30, 2018
Does your Insurtech strategy fit into your claims strategy? Hence, if the claims process is to be connected, and claims is the most important part to our business, then our overall business processes must be connected to our claims strategy.
PYMNTS
SEPTEMBER 13, 2016
Alisdair is a technology entrepreneur and brings nearly two decades of industry experience to his role leading product management and strategy for ThreatMetrix. Armen leads worldwide marketing strategy and execution for ThreatMetrix.
Banker to Banker
DECEMBER 21, 2016
Introducing a new product is always a head scratcher for bankers. How to price and how to create a promotional incentive are just two of the many difficult questions that bankers have to solve. For example, do you price a new service with annual fees or monthly fees?
Accenture
SEPTEMBER 25, 2015
In my previous post we looked at the importance of crafting the right digitally-enabled risk management approach—a forward-looking strategy that helps encompass the rapid pace of technology change. Managing Risk Featured Risk management bank risk management risk management strategy
Bank Innovation
MAY 30, 2018
Citigroup has a digital-heavy, branch-light business approach that extends beyond its National Digital Bank platform (announced in March and currently in testing phase), according to Stephen Bird, CEO of Citi’s Global Consumer Banking. For starters, Citigroup doesn’t have many physical branches, and it has no plans of changing that, according to Bird, who spoke yesterday […].
PYMNTS
AUGUST 2, 2018
” Perhaps the biggest signal of where vendors are failing in their online strategies stems from TimeTrade’s finding that 84 percent of online business shoppers say they either “always” or “frequently” do not receive responses to their questions related to a potential purchase. B2B suppliers aren’t entirely ignoring their eCommerce strategies, though.
PYMNTS
NOVEMBER 21, 2016
Businesses today are extra careful about where they place their money — if they invest at all, that is. This week, we take a look at how companies are investing. In some cases, firms are investing in outsourced services to stay ahead of the competition. In other scenarios, it’s a business owner’s friends and family doing the investing. PYMNTS also explores the venture capital and lending spaces as professional investors make some changes and as businesses look to invest in themselves.
PYMNTS
SEPTEMBER 22, 2017
Amazon has mulled an entrance to this market a number of times before, but now it is in the process of hiring a new general manager to actually come up with a strategy, meaning those talks could be a little more serious this time. Three Cheers For New Alcohol Delivery Strategy. In this week’s tracker, Amazon slowly spreads into trickier territory: prescription pharmaceuticals, smart glasses, and shipping alcohol (which is a logistical nightmare).
ABA Community Banking
APRIL 6, 2018
Part One: Community bankers discuss going digital and its impact internally Technology CSuite Community Banking Fintech. 1Community Banking
PYMNTS
APRIL 30, 2016
A t PYMNTS we get to see and comment on any number of ignition strategies for any number of platforms. And then there are those that forgot that free is not an ignition strategy, so just fizzle away. But this week , we observed an ignition strategy that was perhaps the most unusual and, quite possibly, one of the more brilliant examples of creative thinking around platform ignition. We would not recommend, however, the Queen Bey ignition strategy for most platforms.
Perficient Financial Servies
APRIL 4, 2018
In today’s world implementing effective EDI strategy is very challenging. Challenges You’ll Face Without An EDI Strategy: Unable to reconcile EDI transactions to meet the required levels of service. In order to effectively implement the EDI strategy, the Edifecs Transaction Manager should be a leading solution for transaction lifecycle management. Healthcare Strategy connected health EDI Strategy healthcare analytics healthcare IT
PYMNTS
JULY 17, 2017
Even an infinite scroll only generates a finite number of ad clicks. Facebook has just about maximized the amount of money it can make from people scrolling their newsfeeds, so the social media giant is shifting its ad placement focus to sister platforms WhatsApp, Instagram and most recently, Messenger. Despite a rousing success in Q3 of last year, with 4.67
PYMNTS
AUGUST 25, 2017
Federal Reserve has named a new payments strategy director tasked with heading the agency’s payment system improvement initiatives. The position means Sapenaro will lead the Fed’s efforts as outlined in a paper titled Strategies for Improving the U.S. According to Esther George, Federal Reserve Bank of Kansas City president and chief executive officer, Sapenaro played a prominent role in developing those strategies. The U.S.
PYMNTS
MARCH 28, 2018
But because those financial implications are difficult to precisely calculate, corporates today are struggling with their cybersecurity strategies. The ongoing data scandal at Facebook, or countless other data breaches and fake news stories dominating the headlines today, has certainly raised awareness among businesses of the need to upgrade their cybersecurity strategies. Researchers estimate U.S. eCommerce companies lost $6.7
PYMNTS
JUNE 6, 2016
Makeup subscription service Birchbox is realigning its business strategy to get shoppers to buy more full-size and full-price products. “We are not in the business of selling people samples,” said Birchbox CEO and Cofounder Katia Beauchamp in an interview with Bloomberg. “That would be a really boring business.”
Perficient Financial Servies
MAY 24, 2018
A proper enterprise data strategy can empower a business. A data enterprise strategy is a well-rounded direction for an organization to potentially harness data-driven capabilities. A great enterprise data strategy is composed of 4 major factors. When the strategy is relevant, the information is contextual to the organization, therefore it’s not generic. This strategy should accelerate the business.
PYMNTS
NOVEMBER 8, 2017
The Omni Strategy. Going forward, Galvin believes ATMs will continue to hold a critical place in the omnichannel strategy that banks must adopt to stay relevant — a strategy that will leverage mobile, online banking, call centers (which are able to provide personal interactions at a lower cost) and, yes, in some instances, branches.
PYMNTS
FEBRUARY 6, 2018
With the PyeongChang 2018 Olympic Winter Games not too far away, it’s high season for Team USA merchandise. Fanatics , a company that sells Team USA merchandise, has taken a novel approach to Olympic retail this year with a physical store in a major U.S. The store marks a milestone for Team USA: It’s their first in-person retail store outside the Olympic Training Center in Colorado. It will stay open through the end of the games on Feb.
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