2019

The best FinTech startups in Europe

Chris Skinner

I received a long and lengthy article last week from Taylor Ryan, CMO at Valuer.ai (tryan@valuer.ai). The link provides a comprehensive article on European FinTech developments. It’s so good that I am happy to share it with y’all. Enjoy.

Mobile payment adoption just might be on the verge of a breakthrough

Mobile Payments Today

Despite years of hype and expectations that failed to materialize, mobile payment adoption in the U.S. may be close to a breakthrough as issuers transition to contactless cards and retailers make significant upgrades in POS systems

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AI and the rise of digital humans in financial services

Insights on Business

“AI is not going to replace managers, but managers who use AI will replace the managers who do not,” Rob Thomas, IBM General Manager of Data and AI predicted at IBM Think 2019. [1]

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Rebeca Romero Rainey: You are the backbone of our nation’s financing

Independent Banker

“When our customers’ needs take center stage, we identify creative solutions to help them achieve their dreams.”.

Burger King Now Accepts Bitcoin

PYMNTS

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.

Kleptocracy – What Does it Mean to Community Financial Institutions?

Abrigio

The term kleptocracy has been used in the financial crimes profession for years, but many AML professionals do not understand its meaning and therefore are not adequately monitoring for it within their BSA/AML program. So, what is a kleptocrat?

More Trending

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.

Are these FinTech unicorns worth it?

Chris Skinner

There’s a regular itch that I feel in the back of my neck. I scratch it, but it won’t go away. The itch is an alarm call really, and it’s asking whether all this FinTech investment is worth it. Last year, $111.8

Banks need a purpose other than making money

Chris Skinner

I wrote a couple of recent blogs about the issue with finding good developers and attracting them to banks. The first, about the war for talent, made the statement: the main motivation of developers joining a firm is to solve interesting problems.

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The key to IoT is identity

Chris Skinner

The term The Internet of Things (IoT) was first used twenty years ago. Twenty years later, IoT is emerging rapidly. We have our cars and homes networked but, more than this, we have gadgets like Google Home, Siri and Alexa.

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Cashless payment capability boosts both cash and card sales in vending

Mobile Payments Today

Research confirms that cashless readers do not undermine cash sales in a vending machine. In fact, the cashless technology serves to improve both cashless and cash activity, particularly for machines doing lower volume sales

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A new era of technology enabled financial risk management (Part 1)

Insights on Business

In this series of blogs, we will focus on four transformative technologies with emerging risk applications that can help banks and financial institutions grow profitability and protect the enterprise.

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.

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

PYMNTS

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

Inside Kiva’s digital identity solution for banks in Sierra Leone

Bank Innovation

Confirming a customer’s identity is an ongoing pain point for banks and financial institutions around the world. It’s an even bigger challenge for countries that have high underbanked populations like Sierra Leone.

FinCEN Steps up Efforts to Protect Against the Six Biggest Threats to the U.S. Financial System

Abrigio

The Financial Crimes Enforcement Network (FinCEN) is tasked with protecting the financial system both within the United States and internationally. Financial criminals are working hard, using technology and innovation to their advantage, to stay one step ahead of FinCEN and financial institutions.

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FinTech is on fire and London is burning …

Chris Skinner

A regular question that comes up is: When will the Fintech bubble burst? My claim is that it won’t under my watch, as this is as big a restructuring of banking and finance as the internet has been for commerce and trade.

AI is not a technology change but a cultural one

Chris Skinner

I just picked up a Financial Times article talking about how Artificial Intelligence (AI) will change the way you deal with money. It’s actually more about the Chinese internet giant Ping An, and how they’re changing finance using AI.

A bank that runs accounts for just 50 cents a year

Chris Skinner

I recently attended a FinTech conference where Henry Ma, Vice President & Chief Information Officer of WeBank, presented an update of how the bank is faring in China. For those unaware, WeBank is the offshoot of WeChat Pay, WeChat and Tencent, and focsuses upon financial inclusion in China.

Banks and FinTech Partnerships: a Clash of Extremes

Chris Skinner

A few years ago, I posted a guest article from Philippe Gelis, co-founder and CEO of FX firm Kantox, on Why FinTech Banks will rule the world.

The end of FinTech

Chris Skinner

I’ve been involved in finance and technology for a long, long time. Originally, I was a technologist; then a financial technologist; and now a FinTech guy. However, I see the FinTech piece as being irrelevant. Whether it’s FinTech or TechFin, it’s all still just finance and technology.

Fintech startups use unique approaches to payments to raise funding

Mobile Payments Today

As venture capital continues to look for new opportunties, startup firms in the fintech space are taking unique approaches to payments and financing to raise new funding to accelerate their growth

Stop money laundering with a proactive AML approach

Insights on Business

The recently revealed $8.8 billion Troika Laundromat offshore money laundering scandal was a vast and complex deception.

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The logic of digital change

Chris Skinner

I just went through a conversation about my presentation for a forthcoming conference. They didn’t want to provide a prescriptive approach, and just asked what I talked about in general. That’s a challenge, as I once turned up at a conference and they said to me “you have seven hours”.

What The Trendsetters Say About How We Will Pay Next Decade

PYMNTS

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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Banks push for more fintech startup collaborations, despite failures

Bank Innovation

When it comes to bank-fintech collaborations, banks are finding more failure than success. That’s according to a study by Bank Innovation and INV Fintech, a startup accelerator, released today. Carousel Innovation Strategy INV Fintech Startups

Challenger banks don’t matter as they’re not a primary account

Chris Skinner

During Money 2020 Europe, I bumped into a chap from Monzo. No names mentioned, but he was buzzing and no wonder. The start-up has just boomed through two million users and is growing at over 60,000 account openings a week or 10,000 per day.

When did FinTech become cool?

Chris Skinner

When did FinTech become FinTech? When did technology in finance become cool? I guess the first thing is to define FinTech, which I did badly four years ago. I say badly because my definition back then was: FinTech [is] a new market that integrates finance and technology.

How can you be AI with DD?

Chris Skinner

No, I don’t mean Attention Deficit Disorder, which would be ADD, but I mean Artificially Intelligent with Dumb Data.

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Customers don’t want digital banking

Chris Skinner

So my snarky little friend Ron Shevlin wrote a piece on Forbes claiming that Americans don’t want a digital bank. As the guy who wrote the book Digital Bank you might think I would take offence to such a statement, but no.

Platform, marketplace, ecosystem … buzzword bingo!

Chris Skinner

I encounter lots of banter about platforms, marketplaces and ecosystems, and do wonder in the flippant way people use them interchangeably whether they really understand what they are talking about.

When will the FinTech bubble burst?

Chris Skinner

Reading about FinTech unicorns and pizzas worth $80 million, you would think that the world was bubbling over with wealth. FinTech investments last year peaked at over $110 billion, more than double the year before, and IPOs for firms like Uber and WeWorks are seeing valuations in the stratosphere.

How prepaid and eGifts can boost engagement in the payments space

Mobile Payments Today

Prepaid cards and eGifts can help increase engagement and boost loyalty among retail customers

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Solve your quota setting challenge: Start with Design Thinking

Insights on Business

You’re probably familiar with philosopher George Santayana’s admonition: “Those who cannot remember the past are condemned to repeat it.” While that’s hard to dispute, most of us will admit to occasionally falling short.

Five phases of FinTech (2005-2027)

Chris Skinner

Three years ago, I blogged about three phases of FinTech. Three years later, I can expand on that theme and talk about five phases of FinTech.

Data Breach Leaks 198M Car Buyers’ Personal Data

PYMNTS

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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