Bank Innovation
APRIL 20, 2018
JPMorgan Chase & Co. and the National Bank of Canada (NBC) announced today that they tested a debt insurance simulation on a new blockchain platform. NBC issued a one-year, floating rate certificate of deposit for $150 million dollars to JPMorgan on the platform, with JPMorgan creating a replica transaction to NBC using a debt issuance […].
Payments Dive
APRIL 20, 2018
While Amazon preps to expand Amazon Go, its cashierless retail shopping strategy, Berkeley Research Group leader Keith Jelinek offers insight on what's ahead with cashierless checkout and why consumer response is a key part of potential success.
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Bank Innovation
APRIL 20, 2018
Payment providers Mastercard and Visa will combine their online checkout experiences into one, in an attempt to make e-commerce payments as simple as PayPal or Amazon. The initiative, announced earlier this week by both companies, would merge Mastercard’s Masterpass payment “button” with Visa’s, Visa Checkout “button,” creating a one-click option for consumers who are growing […].
PYMNTS
APRIL 20, 2018
When it comes to getting customers to their destinations, there are no shortage of options available all over the world. Travel was one of the first verticals the internet disrupted, and today there are not only countless platforms aggregating hotel rooms, cruises and flights; there are also an almost equally countless number of platforms that aggregate other travel platforms to make sure the customer can get the best value for their holiday booking.
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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
Bank Innovation
APRIL 20, 2018
The Central Bank of Ireland announced today that it would establish a unit to engage with technology providers, startups, and fintechs on various innovation initiatives. Director General, Financial Conduct, Derville Rowland announced the news today in a speech at the UCC’s Financial Services Innovation Centre. As reported by Finextra today, Rowland said: This new Central […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
APRIL 20, 2018
Most cards across the globe are EMV-chip enabled, according to a report by EMVco. According to the report, released yesterday, the number of EMV-chip enabled cards in global circulation increased by 1 billion in 2017. In that year, there were about 7.1 billion EMV-enabled cards in circulation, the report showed. This year there will likely […].
PYMNTS
APRIL 20, 2018
When it comes to keeping restaurant customers happy, convenience is king. Modern diners want what they want, right when they want it — and if they can’t get it from one restaurant, they have no problem walking into another that offers a speedier or more convenient experience. Recent research indicates that diners cite convenience as one of the most important features offered by their go-to establishments.
Bank Innovation
APRIL 20, 2018
EXCLUSIVE— Mobile, data usage, and a simple experience are three of the things Bahman Koohestani, the next chief technology officer for marketplace lender LendingClub, will be focusing on this year, Koohestani told Bank Innovation. “There’s no question that mobile apps and mobile access continue to be very important,” Koohestani told Bank Innovation.
PYMNTS
APRIL 20, 2018
SunTrust Banks has revealed that a former employee tried to download information on nearly 1.5 million clients and share it with a criminal third party. According to news from Reuters , Chief Executive Officer William Rogers announced the incident during an earnings call with analysts on Friday (April 20). He said the attempt — which happened six to eight weeks ago — included information such as names and account balances.
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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
Bobsguide
APRIL 20, 2018
After the financial crisis and particularly in Europe, recently, where the second Markets in Financial Instruments Directive (Mifid II) aimed to encourage transparency in the markets, many financial institutions were caught under wider, more stringent banking regulations. Without the necessary.
PYMNTS
APRIL 20, 2018
Diamond conglomerate De Beers is introducing another solution aimed at enhancing the transparency of diamond supply chains. Reports in Reuters on Thursday (April 19) said De Beers has launched an app for small artisanal diamond miners in Sierra Leone to be able to track and certify diamonds. It’s the latest initiative by the company to address the issue of “blood diamonds” and a diamond supply chain notorious for facilitating the financing of crime and conflict across Africa.
Payments Source
APRIL 20, 2018
PCI compliance can't solve all security problems. EMV, encryption are all necessary to protect merchants from data breaches, writes Jeff Zimmerman, COO of Clearent.
PYMNTS
APRIL 20, 2018
A perfect storm of regulatory changes and card brand rule changes has left many merchants wondering to whom, exactly, they are beholden and what, exactly, they must do to comply. To add complication to complexity, changes that many see as regional, such as the second payment services directive (PSD2) in Europe, will have ripple effects across the global regulatory landscape, impacting business, cross-border commerce and fraud mitigation the world over.
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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.
Payments Source
APRIL 20, 2018
As marijuana legalization spreads throughout the U.S. and the world, companies in the cannabis market must navigate a delicate tangle of new and old regulations. And many payment providers are unwilling to risk working with dispensaries, leading to some inventive workarounds.
PYMNTS
APRIL 20, 2018
After years of struggle with decreasing sales and mall traffic, Bon-Ton Stores is going out of business. All of the chain’s brick-and-mortar stores are scheduled to close by the end of August, Chain Store Age reported. Bon-Ton going-out-of-business sales will commence today (April 20) across 212 brick-and-mortar stores and its websites. Though the retailer has 250 locations, 38 of those stores are already in liquidation.
Payments Source
APRIL 20, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Square ups delivery game; Allianz turns to blockchain for cross-border transfers; EMV advances globally; Checkout.com expands to Saudi Arabia.
PYMNTS
APRIL 20, 2018
As Facebook tries to bring post-millennials onto its platform, the social media network appears to be at work on a feature geared toward high school students. With “High School Networks for Messenger,” the company may be seeking to connect students with their classmates, The Next Web (TNW) reported. At the moment, the feature appears to be hidden and doesn’t appear to be live in the current version of Messenger available on the App Store.
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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.
Payments Source
APRIL 20, 2018
As the cannabis industry has inched toward legitimacy, it hasn't abandoned its roots. And that includes the infamous pot smokers' "holiday," April 20.
PYMNTS
APRIL 20, 2018
Profits in cryptos: Easy come, maybe; easy go, certainly. News came this week that bitcoin mining just ain’t what it used to be. More to the point: Like any commodity, there’s a break-even point in production, measured in dollars and cents, even when it comes to commodities made out of bits and bytes. Morgan Stanley analysts have estimated that bitcoin miners lose money when the price of the once high-flying digital currency is below $8,600.
Payments Source
APRIL 20, 2018
Apple has made moves to acknowledge Alipay's dominance in the market, such as partnering with Alibaba Financial affiliate Alibaba to accept Alipay payments in China's Apple stores.
PYMNTS
APRIL 20, 2018
Artificial intelligence’s penetration into the enterprise back office can be seen in nearly all areas of operation, but the procure-to-pay process is among the most popular targets for AI disruption. According to McKinsey analysis , troves of data stemming from purchase orders, invoicing and payments – and the fact that procurement touches multiple areas of the enterprise, from strategic supplier relationships and compliance to spend and cash flow management – presents an opportunity for AI to g
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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.
Payments Source
APRIL 20, 2018
AI is not the only way to get value from data. In many cases, simpler, traditional types of analysis may answer your questions, according to Todd Ford, CFO of Coupa.
PYMNTS
APRIL 20, 2018
Video games have grown into a massive real-world business, bringing in $36 billion in revenue in the U.S. per year. In fact, the industry saw some 7,600 games released in 2017 alone — roughly 21 games per day. Those games may mean plenty of revenue for the industry, but staying on top of all the latest titles as they hit the shelves is an all but impossible task for even the most dedicated of gamers.
Payments Source
APRIL 20, 2018
Walmart has also used Sam's Club's Scan & Go fast checkout feature and even robots in an attempt to shorten queues and improve the payment experience.
PYMNTS
APRIL 20, 2018
Two men from South Korea were sentenced for running a bitcoin pyramid scheme that stole around 20 billion Korean won ($20 million) from investors. According to CoinDesk , a judge from Seoul’s Incheon District Court fined the two men $15 million and $8 million respectively. The scheme began in 2015 and eventually grew to become a multilevel company by promising investors high returns through investments in bitcoin.
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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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