2019

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.

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

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]

Fintech and Blockchain: Where Silicon Alley Meets Hyperconverged Infrastructure

Bank Innovation

You may not have heard of the term “Silicon Alley,” but I am sure you are aware of the game-changing financial technology that is emanating from it. Silicon Alley” was initially coined in the mid-1990s as a way to group media startups housed around the Flatiron neighborhood of Manhattan.

As P2P Payments Spreads Its Wings, Challenges Loom

PYMNTS

The spotlight burned brighter for peer-to-peer (P2P) payment services in the first quarter of 2019, with those payment methods finding popularity among more consumers.

Blockchain is dead

Chris Skinner

I used to blog about blockchain and distributed ledger technology (DLT) almost once a week … four years ago. Today, I hardly blog about it at all.

Alipay and Visa announce global QR code venture

Chris Skinner

We all got hugely excited about Apple launching a credit card with Goldman Sachs and Mastercard last week. Whoopy-doo! This was a major lift for Mastercard in particular.

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More Trending

Why Chinese TechFin is the exception and not the rule

Chris Skinner

I picked up an interesting article from Reuters, about how Asian technology firms are moving into banking in a different way to Europe or America.

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GrandTech: the newest FinTech market niche

Chris Skinner

Watching the BBC, I often see reports on the elderly being ripped off, scammed and targeted by fraudsters.

The reason digital is a leadership challenge and not a project

Chris Skinner

I blogged in March (Transforming the bank – three phases of change) about the method to make systems change happen to transform the bank. In another conversation, I then realised that there are three phases of organisational change to transform the bank.

When will Amazon launch its bank?

Chris Skinner

Name the company that strikes fear into everyone’s hearts in business? In the 1980s, it was IBM. You never get fired if you buy IBM, even though It’s a Bloody Mess. In the 1990s, it was Microsoft.

How mobile payments are changing the restaurant industry

Mobile Payments Today

Mobile payment acceptance is leading to rapid change in the restaurant industry, impacting everything from credit card use to delivery and online ordering as well as customer loyalty

IBM and Thomson Reuters join forces to simplify how financial institutions tackle regulatory compliance challenges

Insights on Business

In the financial services industry in the United States, one thing remains constant – change. Whether policy makers are encouraging deregulation, or increasing regulatory requirements, regulatory change has been a constant. As recently as two weeks ago, the U.S.

Temenos to Offer Up to 15 New AI Algorithms Before Yearend

Bank Innovation

AMSTERDAM -- The algorithms are starting to add up at Temenos. The Geneva, Switzerland-based banking technology company will add up to 15 algorithms for artificial intelligence before yearend. This goes with the 20 or so AI algorithms the company already has available for its clients.

Visa: US Starting To Close The Contactless Gap

PYMNTS

Globally, tapping to pay with contactless cards has taken off remarkably, and the U.S., after years of lagging behind, is starting to catch up, according to a new blog post from Visa. “We’re We’re excited to share that tapping to pay is becoming a reality across the U.S.,

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Everything you need to know about Apple’s new credit card (and a bit more)

Chris Skinner

I was about to write a really nice piece about Apple’s announcement of the launch of a new credit card, in partnership with Goldman Sachs, when Brian Roemmele beat me to it. Who is Brian Roemmele you ask? And if you are asking that … WHERE HAVE YOU BEEN?

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FinTech or TechFin (speech transcript)

Chris Skinner

I recently gave a speech where the title was FinTech or TechFin? Everyone had been give a copy of my book Digital Human, and the speech was transcribed. Here it is: FinTech or TechFin? Thank you for inviting me to join you here. It is a great honour.

Everything you need to know about Apple’s new credit card (and a bit more)

Chris Skinner

I was about to write a really nice piece about Apple’s announcement of the launch of a new credit card, in partnership with Goldman Sachs, when Brian Roemmele beat me to it. Who is Brian Roemmele you ask? And if you are asking that … WHERE HAVE YOU BEEN?

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Revolut: the growing pains of a FinTech unicorn

Chris Skinner

One of the things I say fairly often is that the FinTech start-up community is fairly naïve. Not all, but many, do not understand the nuances of finance and why it is regulated the way it is.

Does your bank look like this?

Chris Skinner

Henry Ford famously stated: “If I had asked people what they wanted, they would have said faster horses.” Of course they would, as they had no idea what anything else was. In fact, I use this story often as a Victorian vision of the future was a steam-powered robot horse.

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If banks provide no advice, what do they provide?

Chris Skinner

For many years, banks have talked about moving away from transactions and towards advice. The branch is for advice. We will become trusted advisors. We see the value-add of banking is the information we can analyse around your data to offer advice. Complete rubbish.

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The true meaning of Open Banking

Chris Skinner

A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking.

Restaurants, retailers rethink cashless as financial inclusion takes center stage

Mobile Payments Today

Retailers and restaurants are reconsidering their payment policies as cities and states continue to push for legislation that would require merchants to accept cash

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How financial services firms are using chatbot technology to transform their businesses

Insights on Business

The IBM Watson Assistant team has been busy in the past year helping clients implement state-of-the-art chatbots. The financial services industry is one of the fastest adopters of this technology. As a result, at IBM Think 2019 you’ll be able to find a number of client-led sessions.

Banks Finding More Entry Points to Real Estate Tech

Bank Innovation

Two real estate tech players, Compass and OpenDoor, each rather quietly raised $400 million from SoftBank in 2018, a year that included announcements like Credit Karma’s $500 million investment from Silver Lake and Plaid's $250 million raise that made it a unicorn.

Amazon Hit With Cyberattack; Money Stolen From Sellers

PYMNTS

Amazon was the target of an “extensive” cyberattack in which hackers stole money from merchant accounts and funneled them into their own, according to a report by Bloomberg. The attacks occurred between May and October of 2018.

The true meaning of Open Banking

Chris Skinner

A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking.

Will a global platform connect all of our money?

Chris Skinner

When I talk about FinTech, I often reflect on the first time I encountered what I would, today, call a truly FinTech firm. It was on March 30, 2005, and a newly formed firm presented at the Financial Services Club an idea.

What does the #Brexit vote mean for banking and fintech?

Chris Skinner

Being British with a British accent, everyone asks me about what life will be like with Brexit … and my answer is that I have no idea. I can see that the country is divided, and we have real issues, but then don’t most countries?

The CEO and Chair make digital banking work

Chris Skinner

I claim that most of the banks embracing true digital transformation and not just treating digital as a channel, are led by people who understand technology. They have a leadership team who are passionate about digitalisation, and see it as a core raison d’etre of the bank’s future.

Banking in the Cloud

Chris Skinner

One of the surprises I have had in my discussions with banks that are doing digital well, is how all of them seem profoundly committed to cloud-computing.

FinTech Forecasts for 2019

Chris Skinner

There are many pundits predicting change in banking and FinTech this year. Here’s a review of a few of the ones that have some depth. American Banker published seven FinTech predictions for 2019 by Bob Legters, Chief Product Officer of Banking and Payments at FIS.

Cashless payment shows disparate impact in vending machines than in traditional retail

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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Are you in banking or technology?

Chris Skinner

I’ve had a lot of conversations with bankers and technologists, and realised something recently.

The top five challenges and opportunities for AI in RegTech

Insights on Business

In the span of a just few years, artificial intelligence (AI) has gone from a niche, relatively abstract concept, to entwining itself in multiple aspects of our daily lives.

Study Shows Strong Relationship Between Credit Score Review and Credit Score Increase

Bank Innovation

Can regularly checking your credit score actually help improve your results? We wanted to know the answer to that critical question, so Credit Sesame partnered with Megan Hunter Antill and Jessica Yu, Ph.D., candidates in Quantitative Marketing at Stanford Graduate School of Business, to find out.

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Thailand’s Largest Firm Taps Ripple For B2B Payments

PYMNTS

Petroleum exploration company PTT Exploration and Production (PTTEP), Thailand’s largest corporation, is collaborating with blockchain firm Ripple to integrate its technology for cross-border transactions.