Chris Skinner
JUNE 19, 2019
I’ve blogged a few times about Facebook planning to launch a currency … Will Facebook become the world’s central bank? If Facebook launch a cryptocurrency, will US government shut it down? … and the fact that most regulators won’t like it. In fact, there are already questions being asked in … The post So, Facebook launched a currency … appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 19, 2019
Tally, a consumer finance app that consolidates and pays down customers’ debts, raised $50 million this week to add new services. The Series C funding round, led by Andreessen Horowitz, will help the San Francisco-based company hire more engineers to help build out more products, according to Erica Dorfman, Tally’s head of finance and operations. […].
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PYMNTS
JUNE 19, 2019
Facebook’s Tuesday (June 18) news of the launch of its Libra cryptocurrency was heard around the world, and the Group of Seven (G7) nations definitely noticed, with the coalition calling for an investigation into the supposed risks of cryptocurrencies and how they would affect the current financial system, according to a report by The Financial Times.
Bank Innovation
JUNE 19, 2019
To Benoît Legrand, chief innovation officer at ING Group, open banking and fintech partnerships are changing the way the bank is meeting customer needs. The Dutch banking giant is embracing the open banking concept by positioning itself as an intermediary between customers, third-party fintech companies and other banks. As Legrand put it, ING is striving to […].
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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
PYMNTS
JUNE 19, 2019
The announcement of Facebook’s Libra has buoyed other cryptocurrencies, especially Bitcoin, which gained in the neighborhood of 12 percent this week, to $9,477. However, supporters of the coin want it to reach the $10,000 mark, a threshold which could be difficult to accomplish, according to a report by Bloomberg. The last time Bitcoin got close to the $10,000 level was in May 2018, but it couldn’t close the gap.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JUNE 19, 2019
Small business platform Xero has announced a partnership with Stripe to work on small business payments innovations. The companies will develop new tools that aim to help small businesses get paid faster in various ways while also gaining more visibility over their business performance. The global partnership, announced at Xerocon San Diego 2019, revealed the first two innovations: a new Stripe feed that will bring comprehensive transaction data for all Stripe payments into Xero for easy reconci
Payments Source
JUNE 19, 2019
U.S. merchants need to do their research now, seek independent legal advice, and work with their payments provider to determine their exact needs and next steps in order to stay compliant and not risk losing revenue, says Worldpay's Jonathan Dranko.
PYMNTS
JUNE 19, 2019
Libra may have dominated the news so far this week — and, of course, the new cryptocurrency announced by Facebook is underpinned by blockchain. But elsewhere, DLT continues to make inroads into tracking items as they move across supply chains. To that end, the MediLedger project debuted a new pilot program this week, billed as a cross-industry initiative that eyes using blockchain for drug supply chains.
Payments Source
JUNE 19, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Regulators criticize Facebook's crypto; India may ease local data storage regs; Distributed ledgers advance in Italy; Real-time rails gain more users in the U.S.
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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
JUNE 19, 2019
The connected vehicle ecosystem is taking shape, and that brings new opportunities to retail. But challenges remain, not the least of which include securing the emerging ecosystem for those connected cards and trucks. Some of the latest developments from the retail side of the ecosystem come from the world of QSRs. Cars and quick-service restaurants (QSRs) have been interconnected since drive-ins were the latest innovation.
Payments Source
JUNE 19, 2019
Facebook grabbed the spotlight this week with the announcement of its Libra cryptocurrency initiative, and its list of high-profile supporters suggests that it's the only game in town. But banks have their own projects in the works.
PYMNTS
JUNE 19, 2019
Corporate audit and accounting company PwC is expanding its existing collaboration with small business cloud accounting company Xero. The companies announced in a press release Tuesday (June 18) that their expanded collaboration enables local PwC firms to connect their clients with Xero solutions, building on their existing relationship within the U.K., Canada, Australia and New Zealand.
Payments Source
JUNE 19, 2019
Today’s employees bring their own devices to work, split their time across multiple screens, and can conduct their jobs from anywhere. Business pay has to match that reality, says Billtrust's Flint Lane.
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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
JUNE 19, 2019
Disruption keeps hitting the travel industry, whether via digital payment or commerce, and the latest example of that comes from a U.K.-based startup called Duffel. According to a new report , the company has raised $21.5 million in fresh funding, capital that will go toward “a B2B offering (that allows) individual travel agents at large online travel management companies and tour operators to offer a ‘seamless travel experience’ to their end customers, making the booking experience simpler, fas
Payments Source
JUNE 19, 2019
Apple Inc. is ramping up a test of a digital-first credit card with Goldman Sachs Group Inc. by expanding its use to tens of thousands of the iPhone maker’s U.S. retail employees.
PYMNTS
JUNE 19, 2019
The world has gotten its first good look at Libra — Facebook ’s long-anticipated move into cryptocurrency and global payments. That move includes new rails (the Libra Blockchain), the new currency (Libra), and the new Geneva-headquartered nonprofit (the Libra Association) that will act as its governing network structure and hold the Libra reserves. The move also includes the first application that will run on those rails, a digital wallet called Calibra, the product of a new Facebook subsidiary
Payments Source
JUNE 19, 2019
Senators will examine the social media giant’s plan to offer a digital currency. House Financial Services Committee leaders have already criticized the idea.
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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
JUNE 19, 2019
As key shopping experiences along the customer journey such as checkout and payment are often the most complex and critical for developers to tackle, Magento has integrated Braintree into its default Venia Progressive Web Applications (PWA) storefront. The company noted that the offering provides an easy and quick way for developers to tap into a trusted gateway for credit and debit transactions.
ABA Community Banking
JUNE 19, 2019
As banks across the country mark American Housing Month in June, the ABA Banking Journal Podcast sat down with Michael Petrie, who leads the $4 billion Merchants Bancorp in Carmel, Ind. -- one of the nation's largest affordable housing lenders. The post Podcast: A $4 Billion Bank’s Nationwide Affordable Housing Strategy appeared first on ABA Banking Journal.
PYMNTS
JUNE 19, 2019
William Hockey, co-founder, chief technology officer and president of Plaid , is leaving the company next week. However, he will remain on the company’s board of directors. “This conclusion was neither a rash nor a recent decision,” Hockey wrote in a blog post shared with reporters. “Over the past couple of years, I have known that there would come a point at which I would choose to move to a purely strategic and advisorial role.”.
CFPB Monitor
JUNE 19, 2019
The California Senate’s Banking and Financial Institutions Committee will hold a hearing on AB 539 on June 26, 2019. The hearing was previously scheduled for today. AB 539 was cleared by the California Assembly on May 23. The bill would change several aspects of the California Financing Law (CFL), including by setting new interest rate caps, imposing new rules governing loan duration, and prohibiting prepayment penalties.
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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
JUNE 19, 2019
A fine line separates debt and savings (between the black hole of high-interest credit card payments and the slow progress of financial health), and that issue is taking on increasing importance as more consumers live paycheck to paycheck and use credit more liberally. The big question: What tools can be put in consumers’ hands to help them walk that fine line without comprising their financial health?
Let's Talk Payments
JUNE 19, 2019
The contribution of Micro, Small and Medium Enterprises (MSMEs) to Gross Domestic Product (GDP), job creation, and balanced economic development is well-established. There are more than 55 million MSME enterprises in India, contributing to around one-third of India’s GDP and almost 43% of our exports. However, the lack of adequate, timely, and affordable access to credit has remained the biggest challenge for these enterprises to grow.
PYMNTS
JUNE 19, 2019
HSBC is rolling out its digital accounts receivable solution for corporates in India after teaming up with Australia-based Identitii , reports in IT Wire said on Tuesday (June 18). The bank is integrating Identitii tokenization technology to launch HSBC DART, a secure digital information exchange offered under its Global Liquidity and Cash Management (GLCM) business.
Payments Source
JUNE 19, 2019
An acquisition as large as Fiserv's deal to buy First Data has lots of moving parts, but one big piece may be a new First Data product that's designed to improve the vexing problem of payment approvals.
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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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