Banks need to update their legacy systems and modernize their technology, no surprise there. But just how many operational leaders at banks think their institution’s survival depends on it? MORE

Technology has certainly seen a big evolution over the last few decades. As a result, it should come as no surprise that the technology used in the retail industry has evolved over the past thirty years. Brick-and-mortar technology. MORE

This explainer will offer simple definitions and analogies for blockchain technology. It will also define Bitcoin, Ethereum, blockchain broadly, and initial coin offerings, and highlight promising use cases for the technology. Where does distributed ledger technology make sense? MORE

I was invited by the New York Federal Reserve Bank to moderate a panel at its annual Culture Conference on the challenges and opportunities that FinTech is raising for the culture of financial institutions. As this is a topic that has long interested me I was happy to accept. MORE

This is a blog about technology and finance, not the economy and politics. This idea is cropping up more and more … The post Solving state corruption with technology appeared first on Chris Skinner's blog. MORE

American Express will sell its prepaid-card technology to payments solution provider InComm Holdings, the company said Thursday. Terms of the deal, which is expected to close in the Q1’18, were not disclosed. MORE

EXCLUSIVE- Global technology company IBM is involved in more than 400 blockchain projects, according to its vice president of blockchain technologies, Gennaro “Jerry” Cuomo, who testified before Congress yesterday. MORE

Gartner has found that … The post The next ten years of technology from Gartner and Skinner appeared first on Chris Skinner's blog. Future Grid Opinion TechnologyI just spotted that Gartner have made a series of ten bold predictions for IT 2018 and beyond. MORE

The answer to this staffing problem is technology that streamlines and automates as many tasks at the institution as possible. By implementing automation technology each staff member can increase their productivity to get more done with the existing staff. Automation technology is not about replacing staff, it’s about taking rote tasks off their plate so that they can focus on higher-value activities. MORE

Touted by observers and industry players as one of the top trends that could impact medical billing and data management for 2018, the technology is increasingly being viewed as part of the path to better efficiency in payments. But that’s not stopping payment and commerce players from trying to use technology to bring more efficiency to the system. The firm’s technology also enables patients to work with providers to come up with flexible payment plans, and do so via a mobile app. MORE

Every day, people turn to technology to replace the traditional banking experience. Banking on Mobile Technology on BankNXT. In fact, 50% of all adults will use a mobile device to access financial services by 2021. However, banks aren’t exactly optimistic about this change. MORE

A&A Vending Services is expanding its relationship with self-service retail market payment technology service provider USA Technologies (USAT). USA Technologies has been guiding us through the process, offering insight and support to ensure our financial commitment pays off as quickly as possible. Vending Machines cashless payments Unattended Retail USA Technologies USAT What's Hot MORE

Blockchain technology is slowly slinking through the aisles of retail business. Walmart is using it for tracking product and pork , and analysts are placing side bets on Overstock using the technology. More and more blockchain startups launched in 2016, and investors are starting to seek out companies incorporating blockchain technology.”. Technology advancement is clearly at play. Blockchain Blockchain tracker Retail Technology What's Hot MORE

Our partners, and 7-Eleven in particular, have always been very forward-thinking and innovative when it comes to this sort of payment technology market,” Kaplan said. But there are fewer consumers who are unfamiliar or uncomfortable with digital payment technology every day. MORE

Researchers at The University of Washington’s Networks and Mobile Systems Lab are experimenting with technology that sends signals such as passcodes through the skin. The same technology could be applied in the health sectors for calorie counting or for dispensing insulin by pumps. The technology is dependent on faint electromagnetic signals that devices emit when used normally. MORE

Imagine a scenario in which opacity and complexity have been removed from the financial services industry. Anyone with an idea of how we might conduct business better and more efficiently, be it in wealth management, lending, insurance, or payments, could bring it to life with ease. MORE

The ways businesses, consumers, and even banks make payments are changing, as technologies like realtime payments and APIs make it easier to send money across the globe. But one technology seems curiously absent from recent payment innovation, and that’s blockchain. “We MORE

I know that systems like Erica, short for Bank of AmErica, are up and running … The post Some banks are technology companies appeared first on Chris Skinner's blog. Case Studies Digital Bank Grid Innovation Numbers Opinion TechnologyI was having a chat about Artificial Intelligence (AI) in banking the other day. It was an interesting conversation, although most of the examples were for customer service via Chatbots, which doesn’t impress me much. MORE

As facial recognition technology explodes worldwide, 7-Eleven expands the reach of its artificial intelligence platform to 11,000 stores across Thailand. The facial recognition technology, which was developed by U.S.-based The rollout at Thailand’s 7-Eleven stores is, however, the biggest expansion of the technology to date, particularly in a retail context: It could potentially be the largest number of facial recognition cameras to be adopted by one company in history. MORE

USA Technologies, the payment technology service provider for the self-service retail market , announced Wednesday (Nov. In a press release , USA Technologies said it developed the connector due to guidelines out in Nov. Becoming compliant with the new standards has become paramount, and USA Technologies is the only payments solutions provider that offers a simple fix that eliminates expensive equipment upgrades. MORE

Founded in 2012, Payworks offers a variety of omnichannel payment providers a next-generation payment gateway technology, operated in the cloud and provided in a Software-as-a-Service model. Last August, the company announced its technology will support the integration of Alipay for mobile payment providers and Chinese consumers across the European Union. “We Payworks announced that it has completed a $14.5M MORE

B8ta’s goal is to give technology makers with big innovations (and small ones, of course) access to a physical channel when they are too still small for the biggest stores. And whatever retail technology they sell in terms of profit, they keep. “Retail isn’t dead; it needs a revival.”. MORE

Commerce Compliance E-Commerce Mobile Online Payments Retail Risk Security Startups Technology Alloy Bank Innovation 2017 BeSmartee Blispay Deloitte Eyeprint ID Fiserv PayKey SizeUp SnapCheck teller MORE

The average small business considers itself a “moderate” user of technology, according to the PYMNTS.com SMB Technology Adoption Index. Clearly, there’s still a long way for SMEs to go before they fully embrace FinTech – and the latest research on the topic reinforces the notion that small businesses aren’t using technology the way some may have hoped. MORE

Amazon is exploring a cutting-edge food technology for home delivery, as the online retailers continues to find new ways to get into the $700 billion U.S. The new technology— first developed for the U.S. executive and now head of a startup working with MATS technology. Amazon 915 Labs amazonfresh Blue Apron food grocery MATS technology meal delivery microwave assisted thermal sterilization News Retail What's Hot Whole Foods MORE

For example, can you still call humans the weak link when banks fail to use the best technology? The most vulnerable aspect of a bank's security is the people -- employees and customers -- or so the story goes. But four security experts came together to discuss the issue and opinions differed. MORE

Retail earnings grubhub Innovation McDonald's News simon property group TechnologyRetailers and retail landlords are reporting strong first-quarter earnings results, beating analysts’ expectations in many cases. Buoyed by strong consumer spending and its resilience in the U.S. and abroad, companies such as McDonald’s are off to a positive start in 2018. As quick-service restaurants (QSRs) look to the future, digital innovations such as self-serve kiosks and delivery are on top of mind. MORE

I’ve been illustrating my frustration with incumbent banks for some time, saying that they lack technology leadership. Almost a third of my new book talks about the biggest challenge for banks to respond to Fintech, Big Data, Cloud, Blockchain and all those other issues is to have leadership. MORE

Technology is the new norm for restaurant customers worldwide — especially if those customers happen to live in Asia or the Middle East. In another restaurant technology survey of U.S. consumers , 79 percent agreed that restaurant technology improves their guest experience. say that technology would help to increase sales, make their restaurant more productive and give their business a competitive edge. MORE

American Express has acquired Cake Technologies, a U.K.-based based mobile payment technologies provider, for $13.3 million. The deal, which was never publicly announced, was officially completed last October, TechCrunch reported today. MORE

The … The post Throwing technology over the wall appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid Innovation Opinion Technology MORE

Jack Ma, Alibaba’s founder, has long planned on launching facial recognition technology for the company’s payment app, Alipay. He first revealed his commitment to the development of this technology at a CeBit Conference in 2015, when […]. MORE

Jeff believes that big data and artificial intelligence (AI) are two core technologies that are transforming financial services business models. MORE

That’s Neo Technology’s specialty. The company created Neo4j — an open-source graph database technology that has become the world’s leading graph database — in 2007, and the technology now serves over 200 clients including eBay, Walmart, IBM, and NASA. EE: Neo Technology was officially founded in 2007 by CEO Emil Eifrem and CTO Johan Svensson. EE: Graph technology is increasingly becoming an enterprise standard. MORE

Rental car giant Hertz recently announced it teamed up with startup Shift Technologies , said Fortune. Shift Technologies is an online used-car marketplace. Under the new deal, Shift Technologies will feature and sell used vehicles from Hertz’s rental inventory, giving Hertz access to an additional retail sales channel. Shift Technologies is reportedly looking to use the deal as a means to expand its offerings beyond its current market in San Fransisco and Los Angeles. MORE

Business payments company Bottomline Technologies released its FY Q2 earnings data late last week, posting $63.2 Last November, Bottomline Technologies announced a partnership with NACHA, which will be using Bottomline’s Paymode-X platform to collaborate with partners on B2B payments innovation and explore how to remove friction from ACH payments. B2B Payments B2B bottomline technologies earnings NACHA News Q2 What's Hot In B2B MORE

Payment Cloud Technologies announced Tuesday (Nov. Payment Cloud Technologies said the new banking platform will help An Post’s brand, its diversification and will serve to strengthen the company’s services to meet a broader range of customers. ‘We Bank.VISION is a solution for everyone,” said Ian Clowes, CEO of Payment Cloud Technologies, in the press release. Payment Cloud Technologies wants to provide fairer access to financial services and thus the launch of bank.VISION. MORE

USA Technologies wants to make it easier — and more rewarding — to snag a Snickers at a vending machine using Apple Pay. The self-serve technology firm has announced that it will integrate its loyalty and payroll deduct program with Apple Pay at about 300,000 machines nationwide. Apple Pay Apple Pay Vending Machine Mobile Payments USA Technologies What's Hot MORE

Technology has the power to help a business rise up from the competition. Small businesses, too, have an appetite for technology. But for smaller companies, procuring technology can be a financial and administrative burden, and a lot of times, the problems that can be solved with technology were created by technology in the first place. So, why aren’t small businesses adopting automation technology for their procure-to-pay needs? MORE

At the JPMorgan Technology, Media and Communications conference in Boston yesterday, Kelly said: Remember blockchain actually is not very good about facilitating low-value high-volume scale transactions, which is the core of what we do. […]. Cryptocurrency Exclusive Innovations Online Open Fintech Operations Premium Blockchain Commerce Bank distributed ledger technology HSBC IBM Visa MORE

Copenhagen-based bank, Danske Bank has partnered with Swedish personal finance management startup, Minna Technologies, in order to bring its technology into its own mobile app, it was announced today. MORE

In a landscape where new technology arises, gets implemented and goes mainstream in a heartbeat, I wanted to cover five of the most impactful trends currently impacting the FinTech industry today: 1. Technology is gauging our emotional state based on our interactions with our devices. MORE

This week, Zebra Technologies launched its new MP7000 multi-plane 1D/2D imager scanner for merchants to help speed checkout processes. looking to ramp up their technology offerings. Zebra Technologies’ senior vice president and general manager of its Data Capture Solutions, Bob Sanders, commented on what these new offerings will do for the retail sector. Faster is better in today’s tech-driven age. MORE