September, 2019

The two big issues bank CEOs have with FinTech

Chris Skinner

For all the talk about how well FinTech start-ups are doing, I hear two regular laments from bank CEOs. First, why aren’t we valued like FinTechs? and second, why aren’t FinTechs regulated like us.

Why the insurance industry should prioritize digital payments

Mobile Payments Today

The insurance industry needs to consider how their payments technologies match up with increasingly disruptive trends in the financial services space

Burger King Now Accepts Bitcoin


You want fries with that crypto? Might have to wait a bit, especially on the international stage. For some, bitcoin and cryptos — beyond a means of speculation — are a solution in search of a problem.

Plugging leaks: Bento for Business uses tech to help clients streamline payments

Bank Innovation

As consumer payments go digital, startups and banks now are focusing on digitizing business-to-business payments, an area where small business owners still are reliant on paper checks and a multitude of expense-management tools.

10 Ideas For Our Bank We Got From Wegmans

Banker to Banker

LEARNING FROM NON-BANKS Last week we tagged along with The Bank of Charles Town (BCT) crew who, like us, are heavily believers in “cultural tours.” BCT used a series of these tours to kick off their strategic planning season with the purpose of grabbing ideas that could spark creative thinking.

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Restoring Banking Optimism


Optimism hit a five-year high in 2017 among c-level executives at financial institutions, but this year, optimism took a sharp dip amidst concerns over decelerated loan growth, an uncertain economy, and higher interest rates, according to survey results by Cornerstone Advisors.

We’re just a technology company that happens to have a banking licence

Chris Skinner

I hear this a lot, and don’t like it. Many banks say it these days, and they say it to be cool. To be like a start-up. To be like a Silicon Valley angel investment firm. To be like a young, FinTech unicorn.

More Trending

Visa B2B Connect Live In 62 Countries, Adds Infosys As Integration Partner


Visa announced today that Visa B2B Connect is live in 62 countries, and has added Infosys as a new integration partner.

With Wirecard, UnionPay takes aim at Visa, Mastercard

Bank Innovation

China’s UnionPay, the world’s largest card issuer with 57.6% of the world’s payment cards in circulation, has global ambitions.

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How Financial Education Quantitatively Helps Banks

Banker to Banker

THE ECONOMICS OF FINANCIAL LITERACY Many banks put financial literacy education squarely in their Community Redevelopment Act (CRA) effort using the mindset that financial literacy is an affliction of low-to-moderate income households. The reality is, financial illiteracy affects us all.

New Community Bank Sentiment Index Shows Bankers Largely Positive


Community bankers are largely positive about the future, based on the first results of a new index gauging business sentiment among the financial professionals who serve a critical role in local economies.

Corporate cloud-based payments: what’s that all about?

Chris Skinner

I was recently asked by Volante Technologies to consider what being a digital bank means, specifically for a commercial bank and, even more specifically, the bank’s payments and treasury services.

How U.S. retailers can benefit from strong customer authentication in Europe

Mobile Payments Today

While Strong Customer Authentication does not apply directly to U.S. merchants, there are significant implications for retailers that have operations in Europe and gaining a SCA delegation can provide significant benefits

Retail 202

What The Trendsetters Say About How We Will Pay Next Decade


Sheep are not natural-born leaders. If they were, they wouldn’t need border collies or sheepherders to make sure that they didn’t follow wolves blindly into harm’s way and that they ended up where they needed to be at the end of the day.

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US Bank’s White: Digital banking is now more than DIY

Bank Innovation

As digital banking goes mainstream, banks are recognizing that a mobile app that lets customers carry out day-to-day tasks isn’t enough. It’s a reality for which U.S.

US 188

It’s Not You. It’s My Line Width.

Credit Union Geek

Originally published on Far be it for me to dictate your relationship with your favorite word processor. Go on, keep your margins at the safe 1 inch. It’s not as if you’re putting text there anyway. Leave line spacing at double. Since you always seem to need the room. Ignore the footer field, like […]. The post It’s Not You. It’s My Line Width. appeared first on Credit Union Geek.

Examiners’ Shift in Focus Calls for Institutions to Develop a Risk-Based AML Program


The burden of extensive regulatory exams on a financial institution’s BSA/AML program has taken its toll on the financial crimes industry for years.

Ripple offer SWIFT an olive branch

Chris Skinner

Almost every day, there is an announcement of a new payments innovation.

Banks, merchants look for reforms, resilience in the face of natural disasters

Mobile Payments Today

Banks and payment networks found themselves highly vulnerable to the recent spate of major hurricanes.

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Data Breach Leaks 198M Car Buyers’ Personal Data


A massive data breach has compromised the records of 198 million car buyers. Jeremiah Fowler, a senior security researcher at Security Discovery , discovered the breach after coming across the same 413GB dataset multiple times. “It

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How TD wants to bridge the confidence gap with AI-based tools

Bank Innovation

Canadians may accept that AI is a part of their lives, but many express concerns about the potential risks that the application of the technology presents, including biases. That’s according to a recent TD Bank survey of 1,200 Canadian adults carried out by Environics Research.

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Greed is good … and my bonus is better

Chris Skinner

I was a bit agog and aghast at the recent announcement from 192 US CEOs, who said that stakeholders are now more important than shareholders.

Trends 280

Should My Financial Institution Enter into This Interest Rate Swap?


A rather common method for financial institutions to hedge earnings or value at risk is an interest rate swap transaction. As we move into ever-changing rate environments, eventually you or someone on your ALCO committee may wonder exactly what an interest rate swap would do for the institution.

Money without government? Emperor’s without Clothes?

Chris Skinner

I finally hit the nail on the head about why you can’t have money without government.

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Making digital payments work in the moving and storage space

Mobile Payments Today

The moving and storage industry can benefit tremendously from upgrading to a modern payment system that supports EMV and allows for alternative payment options

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Stripe Reaches $35B Valuation With Latest Funding Round


FinTech Stripe is raising $250 million in its latest funding round and has reached a pre-money valuation of $35 billion, according to a release on Thursday (Sept. 19). . General Catalyst, Sequoia and Andreessen Horowitz all participated in the round.

Square is growing its platform into a one-stop shop for retailers

Bank Innovation

Square, which is best known for its physical and digital payment solutions, is building out its product ecosystem to manage nearly all of the operational needs of retailers.

Retail 188

We just haven’t got a clue what to do!

Chris Skinner

I was talking with a CXO of a bank. They are actively engaged in ‘going digital’, but she was sharing with me that the bank’s executive team had no idea what going digital means. Being brutally honest, she told me she had no idea what it means either.

Can Financial Institutions Bank CBD Retailers? Did the Farm Bill Legalize CBD?


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The real reason for a regulatory sandbox … avoiding death and mayhem

Chris Skinner

I just spoke at Russia’s Eastern Economic Forum, a Davos for the Russian world and beyond. Hosted by Vladimir Putin there were stellar guests attending including Prime Minister Narendra Modi of India and Prime Minister Shinzo Abe of Japan, as well as other world leaders and Chris Skinner.

Decred aims to deliver decentralized future

Mobile Payments Today

Blockchain began as a tool for Bitcoin to deliver a decentralized future for the financial industry. Since then, Bitcoin has largely turned into a speculative investment and blockchain is increasingly being adopted by large financial institutions looking to boost efficiency.

MoneyGram Teams With Visa On P2P Debit Card Deposits


MoneyGram and Visa Direct have formed a strategic partnership to roll out a new debit card deposit service, the companies announced in a Sept. 9 press release. The person-to-person (P2P) money transfer option offers U.S.

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Greenlight is putting education at the core of its banking offering

Bank Innovation

Greenlight Financial, which just raised $54 million in Series B funding, is acquiring customers by pitching itself as a personal finance and banking hub for kids. Greenlight is a digital-only banking startup that is designed to teach kids how to manage their finances as they grow into adulthood.

When digitalisation stops and humans step in, it all falls to pieces (American Express)

Chris Skinner

I saw a list on Facebook the other day about being old.

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Leverage New Bank Technology by Examining Current Processes, Pain Points


Imagine buying a new engine for your car. Your car, however, happens to be 8 years old, with tread-worn tires, and a window that won’t roll up.

The diversity of financial technologies

Chris Skinner

I was listening to questions at a meeting this week where one of the audience asked if I needed to adjust what I say on my travels, to suit the culture of different countries. I thought about it for a second, and realised that I don’t.

Diebold Nixdorf CEO sees bank branches enduring threat from fintechs

Mobile Payments Today

Gerrard Schmid, the CEO and president of Diebold Nixdorf, argues that bank branches are here to stay, despite banks' efforts to cut costs and threats from challenger banks