Fri.Jan 11, 2019

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Looking ahead: Setting expectations for banking and mobile payments in 2019

Payments Dive

The banking industry is facing multiple challenges in the face of stiff competition from fintech startups and disruptive applications that provide direct access to loans, credit and other critical services.

Mobile 382
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Fewer Deals But More Dollars Flowed from VCs to Fintech Startups in 2018

Bank Innovation

Fewer but larger venture capital deals in 2018 translated into some big payoffs for fintechs. Fintech-related funding jumped 38% to nearly $11 billion in 2018, according to the 4Q18 MoneyTree Report from PwC and CB Insights. Deal activity in the space rose to 627 transactions, up from 571 in 2017. Seed-stage fintech companies accounted for […].

Fintech 186
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3DS 2.0 - A Stepped up approach to Payment Authentication

Payments Dive

3D Secure 2.0, a risk-based approach to authentication, can help issuers mitigate fraud and deliver a fast-lane, frictionless checkout experience to customers.

Fraud 323
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Distributed Ledgers Expected to be Most Prominent Financial Technology in 2019, Poll Finds

Bank Innovation

Distributed ledger technology will be crucial to innovation in digital banking this year, according to a poll conducted by Bank Innovation. For the December poll, Bank Innovation asked readers to name a technology, aside from the obvious - artificial intelligence, that would be most prominent in 2019. Out of 151 responses, 28% or 42 people […].

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Podcast episode 14: Switch CEO discusses automating payment card data

Payments Dive

Host David Jones, discusses automating payment card data, and how it protects cardholders and merchants with Switch CEO, Chris Hopen.

Cards 300

More Trending

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Longer SFTR scrutiny period to give banks breathing space

Bobsguide

Any extension to the scrutiny period for the Securities Financing Transactions Regulation (SFTR) comes as a blessing as “there is still so much” for banks to do. "Some banks will find it difficult to retain their resources [during a delay]. After enough time they get moved on to.

Resources 130
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In India, Banks Shy Away From Crypto Use

PYMNTS

The crypto landscape in India, at least when it comes to banking, may be a bit less indecisive. Turns out the private sector seems to be taking at least some measures into its own hands. As reported by ccn.com , some Indian banks are inking service agreements that require customers to pledge that they will not use cryptocurrencies for, well, just about anything — stipulations that are baked into new service agreements.

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5 key questions about alternative data

Bobsguide

Alternative data has quickly become the hot new area in data science. As the world is becoming more transparent and digital, the number of virtual footprints increases, as does the availability of data.

Data 113
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HP And PayPal Team Up For New POS Offering

PYMNTS

In a move to target small and medium-sized businesses and hospitality companies, HP has announced it has teamed up with PayPal to release what it calls an “all-in-one” point of sale (POS) unit, with PayPal handling the payment processing and other financial-related services. According to a report in ZDNet , VP and GM of Retail Solutions for HP Aaron Weiss said HP hasn’t made many strides in the SMB market.

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The State of Automation in Financial Services 2024 Report

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

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6 ways robots are replacing cashiers and couriers

Payments Source

Self-checkout was only the beginning. In today's high-tech, mobile-driven world, there's a heightened demand for making purchases quickly and seamlessly. And it's a demand that no human could possibly meet.

Meeting 111
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Five At Five: Apple’s New Phone Plans

PYMNTS

Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes Apple’s latest idea, and a new seller solution head for Visa. Postmates gains fresh capital, Goodwill cracks down on counterfeits and biometric providers go for even bigger funding. Apple to Launch Three New LCD iPhone Models This Fall. The change comes as the Cupertino, California iPhone maker struggles with lackluster sales of the iPhone XR.

Apple 147
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Square’s leadership exodus continues as payments chief leaves for Visa

Payments Source

Square just found a replacement for high-profile CFO Sarah Friar but is facing another big hole in its leadership team as head of payments Mary Kay Bowman leaves for Visa.

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The Big Voice Showdown In Vegas

PYMNTS

The floor of CES was once again flooded with smart devices, created to make everything from personal grooming to household management to the daily commute a smoother and more seamless experience for consumers through the power of connection. The customer, after all, is always right – and as it turns out, consumers are getting comfortable with digital guide voices faster than most observers ever expected.

Google 145
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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CFTC ethereum questions show â??fundamentalâ?? lack of understanding

Bobsguide

A request for input from the Commodities Futures Trading Commission (CFTC), seeking to improve its understanding of the ethereum blockchain, has demonstrated a “fundamental” lack of knowledge at the regulator. “It seems to not have a very good understanding of ethereum.

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Facial Recognition Startup Megvii Mulls $1B Hong Kong IPO

PYMNTS

In a move that could bring in as much as $1 billion in funding, facial recognition firm Megvii is reportedly mulling an initial public offering (IPO). Sources, however, said that the idea is still in its beginning stages and the plan is not set in stone, Deal Street Asia reported. A spokesperson for the company, Xie Yinan, told the outlet, “we are considering many options to raise funds, but have not committed to a final plan.

Capital 142
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Fearless Forecast: The ATM industry in 2019

ATM Marketplace

Daryl Cornell concedes that his predictions for the ATM industry in 2019 "will likely prove to be off the mark, highly questionable or just plain wrong." And yet, the Triton CEO is ready to prognosticate again this year, "on the off chance that we do manage to land a few correct guesses.

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Regulators Ask Banks To Go Easy On Govt. Workers During Shutdown

PYMNTS

As Friday (Jan. 11) came and went and government workers affected by the 21-day shutdown didn’t receive paychecks, U.S. banking regulators asked lenders to help workers who couldn’t pay their bills or needed credit in the meantime, according to a report from Reuters. “The agencies encourage financial institutions to consider prudent efforts to modify terms on existing loans or extend new credit to help affected borrowers,” the U.S.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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1.11.19 Your morning briefing

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: Ola, N26 pick up investments; TransferWise's Brexit hedge: WeChat cuts bike sharing service from wallet app.

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Indonesian Company Bukalapak Will Likely Receive New Funding

PYMNTS

Bukalapak, an online marketplace company from Indonesia, will soon announce a new round of funding, according to reports. Naver Corp. is said to be one of the investors, as well as Ant Financial , which is the finance arm of Alibaba. Ant Financial already holds a minority stake in Bukalapak, so the new round will be in addition to what’s already been given.

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AML enforcement needs more whistleblowers

Payments Source

Technology-driven systems aren’t enough to root out anti-money-laundering violations. Congress should consider creating a program that would encourage those with knowledge of illegal behavior to come forward.

System 62
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Chinese Smartphone Giant Xiaomi To Invest $1.5B In AI

PYMNTS

In the midst of an economically uncertain time in China stemming from the trade war with the U.S. , Xiaomi said it will invest at least 10 billion yuan ($1.5 billion) in artificial intelligence and Internet of Things (IoT) smart devices over the next five years. Bloomberg reported that the investment is part of the company’s plan to get more revenue from high-value services.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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Smaller Financial Firms Struggle To Match Big Bank Digital/Mobile Innovation

Tom Groenfeldt

Smaller financial institutions face a significant threat from the biggest banks which have huge tech budgets to keep improving digital and mobile applications.

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SEC Accepts 287 Form D Filings Related To ICOs

PYMNTS

Fundraisings accepted by the U.S. Securities and Exchange Commission (SEC) that were related to initial coin offerings (ICO) soared in 2018: According to a Marketwatch analysis, the agency accepted 287 of them last year with stated value of $8.7 billion compared to 44 the prior year with a stated value just over $2 billion. In its research, the outlet queried the agency’s Edgar database for search terms like “ICO,” “token,” and “coin,” among others.

Analysis 130
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Ingenico closes Paymark acquisition, strengthening Pacific presence

Payments Source

Terminal manufacturer and payments technology provider Ingenico Group has completed its acquisition of New Zealand-based payments network Paymark.

Groups 62
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Slack Might Forego Traditional IPO Process

PYMNTS

Slack Technologies, a popular workplace messaging app, is said to be considering going public through a direct listing, as opposed to a traditional IPO. The Wall Street Journal reported that the company would be the second big-name tech company to do so, following in the footsteps of Spotify in April. Slack is likely to debut in Q2. A direct listing works differently than an IPO because it completely bypasses underwriting, a process where investors line up ahead of time and buy shares at a set p

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.