Chris Skinner
AUGUST 18, 2016
After Clearing and Settlement as a blockchain use case, the next big area of interest is Trade Finance. This is primarily because it’s an area full of inefficiencies and open to fraud. Bills of Lading and Letters of Credit are old world methods of managing the shipping of goods and services, and the potential to … The post Applying Blockchain to Trade Finance appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 18, 2016
Incumbent payment firms are more likely to engage with fintech upstarts than other companies in the financial sector, according to the 2016 PwC Global FinTech Survey, “Payments in the Wild Tech World“ The payments industry is running scared and the vast majority are taking action. The report states, “84% of payments Read More.
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Chris Skinner
AUGUST 18, 2016
Things we’re reading today include … London Stock Exchange merger now heads to the regulators as Deutsche Boerse seals investor support Goldman Sachs: a play for the 99% Philippine ex-bank manager out on bail in case linked to cyber heist UK to avoid recession and world economy to ‘stabilise’ as Brexit shock passes – but … The post Things worth reading: 18th August 2016 appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 18, 2016
The favorites mostly remain in the top slots for App Annie’s top finance apps this week. Credit Karma edged out Chase Mobile and Bank of America, which claimed second and third, for the top slot on Google Play. The gold medal (sorry, couldn’t resist) on iOS went to micro-investing app Stash Invest, Read More.
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Accenture
AUGUST 18, 2016
I recently blogged about a four-step process for executing a bank’s digital agenda. Our experience shows that when it comes to executing such an agenda, there are a number of factors that increase the likelihood of success: A clearly articulated. Read more.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
AUGUST 18, 2016
No matter which way you turn these days, mobile (or mobility) is at the center of most conversations for banks, retailers, restaurants and any other consumer-facing brand.
Bank Innovation
AUGUST 18, 2016
Apple and three of Australia’s Big Four banks are fighting about mobile payments — and both sides are appealing to regulators for help. National Australia Bank, Commonwealth Bank of Australia and Westpac have united to fight the Cupertino, Calif.-based giant — which is bigger than all of them combined. Australia and New Zealand Read More.
PYMNTS
AUGUST 18, 2016
PayPal has made its latest strategic moves in the B2B payments space. Reports on Wednesday (Aug. 17) said the payments company has integrated with SME accounting platform Xero to allow small business users to use PayPal to pay the invoices generated on the Xero platform. Their collaboration will see the launch of a PayPal Express Checkout option for small businesses, reports said, enabling companies to pay their invoices as soon as they’re received.
Bobsguide
AUGUST 18, 2016
According to new figures from KPMG and CB Insights, Germany sped ahead in the fintech race during the second quarter of this year and brought in $186 million in comparison to the $103 million that British businesses pulled in. The report highlighted that funding to venture capital backed fintech.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
PYMNTS
AUGUST 18, 2016
Big Data is big business. That’s become pretty much gospel for brands, retailers and marketers alike. And one of the most valuable forms of data right now is behavioral data because it tells a retailer or brand where a customer or potential customer goes, does and spends their time and money on. In other words, it’s a lot of that uber-valuable type of data.
Payments Source
AUGUST 18, 2016
After the whirlwind of payments innovation in 2015, 2016 has felt rather stagnant in comparison for many payment technology enthusiasts. What is the story behind this lull and what does it mean for the future of Fintech?
PYMNTS
AUGUST 18, 2016
Software company Hypersocket Software is warning businesses that they should pay attention to what the recent data breach at accounting company Sage means for them. In an release on Wednesday (Aug. 17), Hypersocket said Sage’s data breach brings the issue of insider threats to light and reveals the need for better access control within the enterprise.
CFPB Monitor
AUGUST 18, 2016
Alan S. Kaplinsky and Mark J. Levin. The Pew Charitable Trusts has released an issue brief, “ Consumers Want the Right to Resolve Bank Disputes in Court ,” in which it urges the CFPB to “expeditiously finalize” its proposed arbitration rule. The CFPB’s proposal would prohibit covered providers of certain consumer financial products and services from using an agreement with a consumer that provides for arbitration of any future dispute between the parties to bar the
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
PYMNTS
AUGUST 18, 2016
Wheelys Café , a Swedish-based startup business that is a fully organic bicycle café that sells everything from coffee to apples and other healthy foods, has raised $830,000 in crowdfunding on the Swedish crowdsourcing site FundedByMe for expansion purposes, according to TechCrunch. This is just the latest in a series of positive news for Wheelys Café, which has also found itself backed by Y Combinator to plot a future as a potential competitor to Starbucks and has raised $150,000 in funding i
Payments Source
AUGUST 18, 2016
India has one of the highest rates of unbanked citizens in the world—between 40% and 50% still have no access to a traditional bank account. But a new national push for financial inclusion is getting results, triggering a recent surge of growth for RuPay, India's evolving domestic payments scheme.
PYMNTS
AUGUST 18, 2016
[link]. We all know teenagers have a tendency to be a bit rebellious. While some may be skipping school or making prank calls, there’s a growing demographic of teenagers out there with a new, more illicit hobby. Fraud. When it comes to fraudsters it’s easy to think of them as a faceless, nameless group of cybercriminals that come out to wreak havoc on payment systems and then retreat back to the hidden corners of the dark web.
Let's Talk Payments
AUGUST 18, 2016
Brett King coined an idea that banking is no longer somewhere you go but something you do. Indeed, over the past decade or so, the banking industry made a tremendous.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
PYMNTS
AUGUST 18, 2016
Marketing pioneer John Wanamaker famously said “half the money I spend on advertising is wasted; the trouble is I don’t know which half.”. With the Chief Marketing Officer Council expecting marketers to spend more than $500 billion on advertising this year, the half that’s potentially being wasted is no small problem. Furthermore, measuring how effectively and efficiently those dollars are being used can be difficult.
Payments Source
AUGUST 18, 2016
American Express Co. came close to reclaiming its once highly touted crown in J.D. Power’s credit-card customer satisfaction ranking, but lost again to Discover Financial Services.
PYMNTS
AUGUST 18, 2016
One Call Care Management , the provider of cost containment services for the workers’ compensation industry, announced on Wednesday (Aug. 17) that it inked a partnership with Lyft , the ride-hailing app that got a huge investment from General Motors earlier this year. In a press release , One Call Care Management said that it tapped Lyft to provide non-emergency patients with transportation.
Payments Source
AUGUST 18, 2016
For the first time, EMVCo, the card network-operated EMV standards body, has established an approval process to formally certify that contactless mobile payment devices can operate at EMV approved terminals.
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
PYMNTS
AUGUST 18, 2016
The financial messaging service known as SWIFT — which operates as a bank-owned consortium and helps payments in the billions of dollars move globally — has been beset by security flaws, has known about those flaws and has done little to address those flaws. So reported Reuters on Wednesday (Aug. 17), as the newswire said that more than a dozen current and former SWIFT officials maintained that security issues beset smaller banks that are among the 10,000 banks that use the service across more
Payments Source
AUGUST 18, 2016
Alipay, an affiliate of billionaire entrepreneur Jack Ma’s Alibaba Group Holding Ltd., is pushing forward with plans to expand in Europe, unveiling a partnership with Ingenico Group SA that paves the way for hundreds of continental retailers to accept China’s biggest mobile wallet in popular destinations.
PYMNTS
AUGUST 18, 2016
Artificial intelligence may once have been the purview of science fiction books and movies, but increasingly, it is being used as a way for businesses to get a handle on the daily minutiae of transactions and customer interaction. One firm that has been marrying work processes and machine learning is WorkFusion , which, through AI cognitive services, seeks to automate what can be termed “knowledge work”— in effect, everything from invoices to eCommerce itself — in a process that has
BankNXT
AUGUST 18, 2016
Trade finance is an area full of inefficiencies, and is open to fraud. How can it be improved with digitised operations via blockchain? By Chris Skinner. Applying blockchain to trade finance on BankNXT.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
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