Chris Skinner
OCTOBER 13, 2019
Now that’s a contentious title for a blog, but purposefully so. Old banks can compete in the new world if they’re smart … it’s just that so many of them are dumb. Dumb with data, as I’ve blogged before. To illustrate this, I have three examples. The first is that … The post Why dumb old banks can’t compete appeared first on Chris Skinner's blog.
PYMNTS
OCTOBER 13, 2019
The parent company of WeWork is at a junction after its initial public offering (IPO) tanked and its chief executive officer stepped down, Reuters reported on Sunday (Oct. 13). Lead investor SoftBank has a financing package in place to command WeWork and put the firm’s founder — Adam Neumann — further aside, sources told The Wall Street Journal. SoftBank gave WeWork a financing offer that would give it control.
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Chris Skinner
OCTOBER 13, 2019
The main blog headlines are … What does “innovation” mean in finance? I recently was invited to be the keynote at some innovation awards in Ireland. It got me thinking about what innovation means in finance, so here are the notes from my speech. I trust it’s useful … … The post The Finanser’s Week: 7th October – 13th October 2019 appeared first on Chris Skinner's blog.
PYMNTS
OCTOBER 13, 2019
U.K. FinTech company Revolut wants to raise as much as $1.5 billion so that it can expand globally. According to The Financial Times , a source familiar with the matter revealed that the company has hired JPMorgan to raise $500 million in new equity from investors, as well as secure a $1 billion convertible loan. Launched five years ago, Revolut has almost 8 million customers, offering digital financial services through a mobile application including digital debit accounts, currency exchange, bu
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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
Chris Skinner
OCTOBER 13, 2019
Things we’re reading today include … The big bank winning streak might be about to end Post Office veto will save Barclays just £7m a year… as bank made £3.5bn profit in 2018 German police investigate bitcoin transfer to synagogue killer Firms ignoring climate crisis will go bankrupt, says Mark … The post Things worth reading: 14th October 2019 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Ron Shevelin
OCTOBER 13, 2019
There are better paths to bank/fintech collaborations than partnerships.
PYMNTS
OCTOBER 13, 2019
The largest FinTech startup in Latin America — Brazil’s Nubank — is reporting a 25 percent increase in the number of clients since August, Reuters reported on Friday (Oct. 11). The digital bank said at the Brazil Investment Forum in Sao Paulo that it has 15 million clients, according to Nubank founder and CEO David Vélez. Vélez said that 10 million out of the 15 million clients are holders of the bank’s credit card.
BankBazaar
OCTOBER 13, 2019
Taking out a Personal Loan to close other loans might be a wise thing to do. But there are some points you should keep in mind. Read on to find out more. When it comes to loans , you get to think things over more often than not. This is so true, especially for Personal Loans. These loans have a higher interest rate compared to other loans such as Home Loans and Education Loans.
PYMNTS
OCTOBER 13, 2019
Chinese eCommerce platform Club Factory has raised $100 million in a Series D funding round as it plans expansion into India, sources reported on Friday (Oct. 11). The new funding was led by Qiming Venture Partners, Bertelsmann, IDG Capital “and other Fortune 500 companies from the U.S. and Asia,” the startup said. . Club Factory has raised about $220 million to date and has more than 70 million users.
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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
Let's Talk Payments
OCTOBER 13, 2019
In September 2019, FinTech startups across the world raised $2.91 billion worth of VC/PE investments from 196 deals. In terms of MoM trends, there was a decrease of 9.3% from the $3.
PYMNTS
OCTOBER 13, 2019
Bengaluru-based Razorpay would like to work with the Reserve Bank of India (RBI) on new regulations that would make it mandatory for payments companies to comply with RBI’s entry point, technology, security, data storage and more. With that in mind, Razorpay has hired Amitabh Tewary, a vice-president at Mastercard, as its chief innovation officer to help increase its engagement with banks, networks, and regulators.
Bankelele
OCTOBER 13, 2019
Today Kenya stood still, and the world watched as Eliud Kipchoge ran a specially staged marathon in Vienna Austria completing it in under two hours. The event dubbed “Ineos 1:59” was an unprecedented partnership event, backed by British chemical company Ineos and its billionaire Chairman, Jim Ratcliffe. Kipchoge ran the 42 kilometre-length course on a time of 1 hour […].
PYMNTS
OCTOBER 13, 2019
A source has revealed that Brazilian lender Banco Inter SA is currently in discussions with Uber about partnering in financial services. The move is another move by Japan’s SoftBank Group — which is a shareholder in Uber — to integrate its business in Latin America. While the source wouldn’t comment on the terms of a possible deal, it would target the rideshare giant’s drivers and Banco’s more than 3 million clients.
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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.
The Financial Brand
OCTOBER 13, 2019
The most innovative leaders in banking are generating greater profits and higher satisfaction scores. Here's what they have in common. The post What Top Innovation Leaders in Banking Have in Common appeared first on The Financial Brand.
PYMNTS
OCTOBER 13, 2019
U.S. financial regulators have warned firms with registered digital assets that they must follow securities laws to prevent money laundering, as well as report any suspicious activity. The U.S. Securities and Exchange Commission, Commodity Futures Trading Commission and the Financial Crimes Enforcement Network issued the notice in order to clarify firms’ obligations under anti-money laundering, bank secrecy and counter terrorist-financing laws when it comes to digital assets.
The Financial Brand
OCTOBER 13, 2019
Banks and credit unions often get bogged down by digital changes, but marketers can move faster in some areas, like onboarding communication. The post Two Ways to Quickly Elevate Your Financial Institution’s Onboarding appeared first on The Financial Brand.
PYMNTS
OCTOBER 13, 2019
Online retail giant Amazon says it will launch into new markets amid an uncertain sea of controversies and regulations, CNBC reported on Friday (Oct. 13). Amazon outlined its opinion on touchy subjects and said in a blog post last week, “there is much room for healthy debate and differing opinions.” Minimum wage, climate change, workplace diversity, immigration, and more were among the topics outlined.
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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
OCTOBER 13, 2019
The public market for cannabis is off by more than 40 percent, despite the industry’s blazing forecast and enthusiastic quarterly reports, The Wall Street Journal (WSJ) reported on Saturday (Oct. 12). The WSJ pointed to a near-$700 million merger of two U.S. companies that was scrapped. Any predictions about what will happen next year have been pulled, a Canadian producer told the paper. .
PYMNTS
OCTOBER 13, 2019
The World Bank has downgraded India’s GDP forecast due to a decrease in domestic demand. “India’s cyclical slowdown is severe,” the report said, according to Bloomberg. “In such a weak economic environment, structural issues surface and the weak financial sector is becoming a drag on growth.”. The report follows the Reserve Bank of India’s ( RBI ) move earlier this month to cut its economic growth projection to 6.1 percent this year — the biggest downgrade in at least five years.
PYMNTS
OCTOBER 13, 2019
The public market for cannabis is off by more than 40 percent, despite the industry’s blazing forecast and enthusiastic quarterly reports, The Wall Street Journal (WSJ) reported on Saturday (Oct. 12). The WSJ pointed to a near-$700 million merger of two U.S. companies that was scrapped. Any predictions about what will happen next year have been pulled, a Canadian producer told the paper. .
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