November, 2019

Things worth reading: 18th November 2019

Chris Skinner

Things we’re reading today include … Google wants to launch bank accounts.

Google 156

Why Arvest Bank is focusing on customers’ future credit profiles

Bank Innovation

Fayetteville, Ark.-based based Arvest Bank is using underwriting tools from TransUnion to assess current customers on their suitability for financial products in the future.

Tools 130

A Strong Loan Review System Is Good for Your Business

Abrigio

Key Takeaways Effective credit risk review promotes lending agility. Many of the objectives of a credit risk review system support business goals. Keys to effective loan review are independence, sufficient standing in the organization, and adequate funding.

System 130

SunTrust Banks' Vitale says mobile customers still want a little bit of friction

Mobile Payments Today

Andy Vitale, head of user experience design at SunTrust, says creating a mobile banking expereince for customers is about learning how they use their devices both in and out of the bank.

Is “openness” the next big word in financial crime?

Insights on Business

About a month ago, I attended the IBM RegTech Summit in London, which brought together a mix of financial services professionals, regulatory experts and technologists. But the terminology was markedly different than most financial crime and compliance events I’ve attended.

Fraud 130

Old School Thinking

Credit Union Geek

You’re not old, just maturing like a fine wine. We all do it, no matter our age. “Because it’s always been done that way.” ” How much sense does that make? Say it aloud. Would such a declaration inspire confidence in your team? It is tempting; humans are creatures of habit. Do you have a morning […]. The post Old School Thinking appeared first on Credit Union Geek.

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The future of money according to the Swiss (shhh, it’s not bitcoin)

Chris Skinner

I just saw an interesting report produced and released by SIX Group that talks about the future of money.

More Trending

FinCEN Reissues Real Estate Geographic Targeting Orders

Abrigio

On November 8, 2019, the Financial Crimes Enforcement Network (FinCEN) reissued their Geographic Targeting Orders (GTOs) for 12 metropolitan areas. GTOs are authorized under the Bank Secrecy Act to detect money laundering and other illicit activity through the purchases of real estate.

Google, Citi see integrated payments, mobile banking as mutually beneficial

Mobile Payments Today

The blockbuster agreement for Citi to integrate its Google Pay wallet with Citi and Stanford Federal Credit Union's mobile checking accounts represents an evolution of Big Tech and traditional banking to offer a mutually beneficial expansion of their digital banking and payments businesses

Google 130

Digital is transforming the European specialty finance industry

Accenture

Fitbit’s Google Acquisition Sparks Privacy Concerns For Some

PYMNTS

Google ‘s recent announcement that it is buying Fitbit is leading some users to ditch the device. “I’m I’m not only afraid of what they can do with the data currently, but what they can do with it once their AI advances in 10 or 20 years,” former user Mike Carpenter told CNBC.

Google 130

The Finanser’s Week: 11th November – 17th November 2019

Chris Skinner

The main blog headlines are … Can you recognise a fraudster when you meet one? I’ve pointed out many times that it’s easy to scam people online and defraud them.

Maine 156

Marqeta adds CMO and new tools to help clients expand

Bank Innovation

A company that operates quietly in the background of popular financial apps and platforms is taking steps to become more visible.

Tools 130

The Risk Your Asset/Liability Management Process Might Be Missing

Abrigio

ALM | 4 minute read Key Takeaways Many financial institutions view asset/liability management as a "check-the-box" regulatory exercise.

ATMIA's Ron Delnevo sees cash access still playing critical role in banking, society

Mobile Payments Today

Ron Delnevo, executive director of Europe at the ATMIA, believes in payment choice. He also thinks independent ATM operators play an important role in keeping cash accessible

ATM 130

North American retail payments: Position to win with five big bets

Accenture

When I look at the retail payments market, I see all the attributes that any strategist worth his salt would love: It’s large, growing, profitable and accessible.

Retail 156

Fed Report Details Steps To Prevent ‘Severe Consequences’ Of Stablecoin Crisis

PYMNTS

The U.S. Federal Reserve Board has issued a warning about a possible stablecoin crisis and its impact on the global economy.

Report 130

Can you recognise a fraudster when you meet one?

Chris Skinner

I’ve pointed out many times that it’s easy to scam people online and defraud them. I even once got a phone call from an elderly gentleman asking me if he had really won £1 million on the Financial Services Club lotto. I had to let him down gently.

Weekly Wrap: FICO fights fraud with selfies, as tech providers pitch ‘social’ banking

Bank Innovation

Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, November 15, 2019.

Fraud 130

How Stress Test Results Can Yield Better Lending, Credit, and Risk Decisions

Abrigio

Stress Testing | 7 minute read Key Takeaways Stress testing is an important component of sound risk management. Top down and bottom up analysis can inform capital assessments. Stress testing can put a burden on smaller financial institutions, but today's technology "levels the playing field.".

New Research Highlights Global Market Opportunity for Secure Commerce at the Pump I New Report I EMV I Pay at the Pump I Trends I Survey

Mobile Payments Today

Download this new report which explores the findings of a survey commissioned by TNS among US, UK and Australian adults about their current usage of pay-at-the-pump facilities and their willingness to engage with new technologies and services at the fuel dispenser

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Digital investments and the growth of regional credit card issuers

Accenture

Guest blogger Tripp Gavin and Frank Martien examine the role technology investment has played in helping smaller banks grow faster than their larger counterparts. In the past 12months, U.S.

Sterling Bancorp Names Leaders Of Innovation Finance Group

PYMNTS

Sterling Bancorp announced that it has launched its new Innovation Finance Group , and has tapped veteran technology bankers John Hoesley and Josh Roberts to lead it.

Groups 130

Things worth reading: 15th November 2019

Chris Skinner

Google 156

Porn site says PayPal ban will hurt more than 100,000 performers

Bank Innovation

PayPal Inc. is blocking transactions at Pornhub, a move the adult-video site says will halt payments to “over a hundred thousand performers who rely on them for their livelihoods.” PayPal took steps to stop the Pornhub transactions after a review of the situation, the online-payment giant said. “We

Video 130

USDA Releases Interim Final Hemp Rules

Abrigio

3 minute read Key Takeaways The USDA released their interim rule on hemp production. States and tribes must include key components in their programs. States may begin submitting programs to the USDA for approval. .

Apple Pay facing additional scrutiny by EU regulators over competition questions

Mobile Payments Today

European regulators are taking a hard look at Apple Pay amid concerns that it may be using its market position to crowd out rival mobile wallet services. Apple Pay has gained share in the U.S.

Why Specializing in Commercial Verticals Can Boost Bank Profitability

Banker to Banker

COMMERCIAL SEGMENTATION Much has been written about the merits of community banks developing banking expertise around specific verticals. We recently worked with a bank that won the banking mandate for a family-run funeral home. At first we were surprised that the term loan was 93% LTV.

Interpol Cracks Down On Encryption As Safety Net For Child Predators

PYMNTS

Interpol is coming out against strong encryption, saying it protects child sex predators.

Things worth reading: 14th November 2019

Chris Skinner

Apple 156

Point-of-sale financing an untapped opportunity for banks

Bank Innovation

Banks need to embrace new customer acquisition models or risk falling behind, a recent Accenture report argued. The report, titled 5 Big Bets in Retail Payments in North America, examined how banks risk losing payments revenue to technology startups and other non-bank competitors.

FinCEN Issues Advisory on the Financial Action Task Force Updated List of Jurisdictions with AML/CFT Deficiencies

Abrigio

3 minute read Key Takeaways Three countries are added to the FATF list: Iceland, Mongolia, and Zimbabwe. DPRK and Iran continue to need enhanced due diligence. FinCEN released update guidance around these FATF updates. .

Taking a stand on data privacy and security in the payments space

Mobile Payments Today

Mastercard last month challenged the industry on adoping a set of new standards on data privacy and security. Computop's founding director Ralf Gladis says the industry should take up the challenge and collectively move in a similar direction

Here Is Daily Bank App Usage Patterns And Why It Matters

Banker to Banker

DIGITAL MARKETING If you think the average American is on their phone throughout the day you are largely right. However, they may not be on your bank’s app.

Small Chinese Banks Struggle To Stay Afloat

PYMNTS

Following years of brisk expansion, China’s smaller financial institutions are seeing hard times as customers turn to larger banks and the local economy slows, the Wall Street Journal (WSJ) reported on Sunday (Nov.

Tomorrow’s bank? What do HSBC and Wells Fargo think?

Chris Skinner

I always like to hear what bankers think about the future of banking – it’s probably more accurate than what janitors or futurists think – and so was pleased to see two items in my in-tray this week, one from HSBC and the other from Wells Fargo.

RTP network growing 25% every month: The Clearing House

Bank Innovation

The Clearing House reports that its real-time payments (RTP) network is growing more quickly than anticipated.