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24 Jul 2014 09:47

Digital Wallets: High Awareness, Low Adoption

Banktech reports: Digital Wallets: High Awareness, Low Adoption While an overwhelming majority of consumers are aware of mobile wallets, few use them for everyday transactions, a new survey finds. Source: Digital Wallets: High Awareness, Low Adoption. [Source: Banktech]

24 Jul 2014 09:47

Confirmed: Facebook Messenger will eventually do payments

VentureBeat reports: Confirmed: Facebook Messenger will eventually do payments Now we have confirmation on why Facebook hired PayPal’s David Marcus: Payments and Messenger will eventually “overlap,” Zuckerberg said during today’s earnings call. When the company first announced it had hired Marcus, the former president of PayPal, the industry took it as a strong hint that Facebook  Continue Reading » [Source: VentureBeat]

24 Jul 2014 09:45

Nintendo Brings Contactless Payments To Japan

PYMNTS reports: Nintendo Brings Contactless Payments To Japan Nintendo announced this week that its Wii video game console will now be able to accept payment cards in Japan. It was reported that the update went live yesterday and lets users tap a contactless Suica fare card against the Wii U’s gamepad to access their funds. The  Continue Reading » [Source: PYMNTS]

24 Jul 2014 09:45

It’s Time for Mobile Banking to Grow Up: How to Decouple From Online

Banktech reports: It's Time for Mobile Banking to Grow Up: How to Decouple From Online The initial step towards a mobile-first strategy has to be cutting the mobile channel loose from online banking. Source: It's Time for Mobile Banking to Grow Up: How to Decouple From Online. [Source: Banktech]

23 Jul 2014 09:36

Wells Fargo’s Booking Tool Removes Branch Bete Noire: Waiting in Line

BTN reports: Wells Fargo's Booking Tool Removes Branch Bete Noire: Waiting in Line The bank’s adoption of scheduling technology underscores the fact that, while branch traffic is declining, most sales of loan, deposit or investment products are still made at the branch. It’s also further evidence that banks are using technology to engage with customers  Continue Reading » [Source: BTN]

23 Jul 2014 09:35

Taking The Pain Out of Merchant Onboarding

PYMNTS reports: Taking The Pain Out of Merchant Onboarding “If PayPal can board me in 5 minutes, why can’t my acquirer?” Automating the boarding and underwriting process has completely reinvented what used to take days (even weeks) and cost a lot of money. But does it save time at the expense of other downside risk?  Continue Reading » [Source: PYMNTS]

14 Jul 2014 11:08

Detours on the Road to Digital Banking

Banktech reports: Detours on the Road to Digital Banking Digitization is recognized as key to growth. But new research from McKinsey reveals many businesses doubt their ability to reach digital potential. How do banks shape up? Source: Detours on the Road to Digital Banking. [Source: Banktech]

14 Jul 2014 11:07

How Banks Can Overcome the Challenge of Data Overload

Banktech reports: How Banks Can Overcome the Challenge of Data Overload Banks must master the use of unstructured data if they want to seize competitive advantage, enjoy productivity gains, and improve customer service. Source: How Banks Can Overcome the Challenge of Data Overload. [Source: Banktech]

14 Jul 2014 11:02

The Mobile Payment Apps Attention Problem

PYMNTS reports: The Mobile Payment Apps Attention Problem New Nielsen research suggests consumers max out at 26 or so apps a month – which means commerce and payments apps have to be amazingly compelling to pry eyeballs from games and other software. Other than hiring George Clooney or Kate Upton as apps spokespeople, what can  Continue Reading » [Source: PYMNTS]

14 Jul 2014 11:02

Back-office legacy still holding back banks

Bankingtech reports: Back-office legacy still holding back banks Setting up a bank in the UK is costly, time-consuming, heavily regulated and not easy. As a result, the dynamic, start-up culture that drives innovation in many other sectors is less prevalent within banking and financial services. Source: Back-office legacy still holding back banks. [Source: Bankingtech]

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Chris Skinner is best known as an independent commentator on the financial markets through the Finanser and Chair of the European networking forum the Financial Services Club, which he founded in 2004. The Financial Services Club is a network for financial professionals, and focuses on the future of financial services through the delivery of research, analysis, commentary and debate and has regular meetings in London, Edinburgh, Dublin and Vienna. He is the author of nine books covering everything from European regulations in banking through the credit crisis to the future of banking and is a regular commentator on BBC News, Sky News and Bloomberg about banking issues.
10 posts

Written by  22 Nov 2012 07:51

Virtual currencies will explode thanks to mobile games

The European Central Bank (ECB) has just issued a report on Virtual Currency Schemes, with case studies on Second Life and Bitcoin (both previously covered in depth here). In the report, the ECB calls Bitcoin “the most successful — and probably most controversial — virtual currency scheme to date.” The ECB goes on to say that the concept of Bitcoin  Continue Reading »

Written by  25 Oct 2012 05:20

Osaka, here we come! Sibos 2012.

Many of us are gearing up for this year’s SIBOS – the big SWIFT jamboree that gathers all those involved in payments worldwide … whoops, involved in transaction processing worldwide. This year it’s in Osaka, Japan, and I’m on my way over there at the weekend. As a result, the next week of blogging will  Continue Reading »

Written by  11 Jul 2012 09:18

Square: The Apple of Finance

In case you didn’t see it, Wired magazine ran an article about Jack Dorsey and Square this month.  Throughout the article, they compare Jack Dorsey to Steve Jobs and Square with Apple. In a long opening – the first page is just about pouring tea! – they finally get to the crunch so here’s my shorter, edited version: Square may  Continue Reading »

Written by  22 Jun 2012 05:39

Innovating on a sinking ship: the Innotribe Belfast write up

I’ve already given some reflections on last week’s Innotribe Belfast meeting in my write ups of Metro Bank and Fidor Bank. Now, for a more general write-up, I’ve taken the inputs of Kosta Peric, the SWIFT innovation group leader who runs innotribe; the innotribe start-up details; and the input of participating company Allevo; to put together my own summary of the whole  Continue Reading »

Written by  21 May 2012 03:40

The multibranded bank

Having made the claim many times that banks are not great at multichannel but excel in a single channel, I got into an interesting debate last night with the CEO of one UK bank. He was asking whether branch-based banking had a future. I said branches have a limited future, with the megastore branch being  Continue Reading »

Written by  14 May 2012 00:55

Who moved my rock?

I often use two discussion points by way of background when talking about the future. The first is that kids will show you the way, because children are rushing towards the future whilst most adults are rushing away from it. Children at 9 and three-quarters and 12 and half, whilst adults are celebrating their 31st  Continue Reading »