Chris Skinner
JULY 7, 2019
Being raised on Monty Python, an old sketch popped into my head (The Four Yorkshire Men) and led to a thought. A grandfather and grandson are at the dinner table … Grandfather: Ah, when I was a lad, life was very different. Grandson: In what way, grandad? Grandfather: Well, we used … The post Two weeks to pay someone? Luxury! appeared first on Chris Skinner's blog.
PYMNTS
JULY 7, 2019
Are new bitcoin rules coming? According to The Wall Street Journal , “the Internal Revenue Service is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers. It is part of a broader push to boost the nascent cryptocurrency industry.” Not only that, but the newspaper said the U.S.
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Chris Skinner
JULY 7, 2019
The main blog headlines are … How can you be AI with DD? No, I don’t mean Attention Deficit Disorder, which would be ADD, but I mean Artificially Intelligent with Dumb Data. Now, I know I moan on and on about fragmented legacy systems, but I honestly have no idea … The post The Finanser’s Week: 1st July – 7th July 2019 appeared first on Chris Skinner's blog.
PYMNTS
JULY 7, 2019
Cameras reportedly are taking a more important place in the world of grocery, perhaps to the detriment of cashiers. That’s according to The Wall Street Journal , which said that the technology, “pioneered” by Amazon for its Amazon Go grocery stores, will allow such merchants to “cut costs and alleviate lines as they face an evolving threat from the eCommerce giant.”.
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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
Payments Source
JULY 7, 2019
Much as the fintech wave has sparked investments and deal-making among legacy bank technology vendors and payment processors, Experian, Transunion and Equifax are entering partnerships and making investments.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
JULY 7, 2019
Once a dataset’s data and life-cycle events are in a known state with lineage, new and exciting opportunities are possible, writes David Levine, head of data product strategy for PeerNova.
PYMNTS
JULY 7, 2019
A new report has found that Google is still keeping a record of a user’s purchase history indefinitely. Back in May, CNBC writer Todd Haselton revealed that he noticed the tech giant was using Gmail to store a list of everything a user has purchased, if Gmail or a Gmail address was included in any part of the transaction. “If you have a confirmation for a prescription you picked up at a pharmacy that went into your Gmail account, Google logs it.
CFPB Monitor
JULY 7, 2019
AB 539 was cleared by the California Senate’s Banking Committee on June 26. 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. For example, while the CFL does not set a maximum interest rate on loans of $2,500 or more, AB 539 would cap the interest rate at 36% plus the federal funds rate on loans of $2,500 or more but less than $10,000.
PYMNTS
JULY 7, 2019
Are new bitcoin rules coming? According to the Wall Street Journal , “the Internal Revenue Service is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers. It is part of a broader push to boost the nascent cryptocurrency industry.” Not only that, but the newspaper said that 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
BankBazaar
JULY 7, 2019
Here’s everything you need to know about Sukanya Samriddhi Yojana Account. Read on. Sukanya Samriddhi Yojana (SSY) is a government welfare saving scheme that allows you to build a sizable fund for your daughter’s future education and marriage expenses. If you are planning to open a Sukanya Samriddhi Yojana Account for your daughter but don’t know where to start?
PYMNTS
JULY 7, 2019
7-Eleven Japan had to suspend the mobile payments feature on its 7Pay app due to a security flaw that affected around 900 people. The payments feature, which was launched on July 1, allowed customers to scan a barcode with the app and charge a linked credit or debit card. But according to The Verge , the company received a complaint on July 2 when a customer noticed a charge that they didn’t make.
The Paypers
JULY 7, 2019
(The Paypers) Fintech startup PFC has raised EUR 5 million in funding, in a significant investment from Nordea, which operates in 20 countries around the world.
PYMNTS
JULY 7, 2019
European Central Bank (ECB) Executive Board Member Benoit Coeure has asked financial regulators to create a framework for crypto projects ahead of Facebook’s launch of its own digital currency, Libra. “It’s out of the question to allow them to develop in a regulatory void for their financial service activities, because it’s just too dangerous,” Coeure said, according to Bloomberg.
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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
JULY 7, 2019
A digital bank requires more than just new technology. It requires a culture that empowers employees and encourages innovation. The post Culture, Not Technology, Key to Digital Transformation Success In Banking appeared first on The Financial Brand.
PYMNTS
JULY 7, 2019
A former Goldman Sachs executive is joining FinTech Revolut’s board. Michael Sherwood, who left his position as vice chairman of Goldman Sachs in late 2016 after more than three decades with the company, is joining Revolut as a non-executive director next week. Sherwood is one of several high-profile people from the banking and financial services industry being added to the board.
The Financial Brand
JULY 7, 2019
To become a digital bank takes more than just new technology. It requires a culture that empowers employees and encourages innovation. The post Culture, Not Technology, Key to Digital Transformation Success In Banking appeared first on The Financial Brand.
PYMNTS
JULY 7, 2019
Tech guru John McAfee claims he can help Cuba by launching a cryptocurrency that overcomes a U.S. trade embargo. In an interview, McAfee also revealed that he believes that income tax is illegal and will run for the Libertarian Party nomination for U.S. president. “It would be trivial to get around the U.S. government’s embargo through the use of a clever system of currency,” he said, according to Reuters.
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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.
The Financial Brand
JULY 7, 2019
Don't panic! Three intensive steps taken immediately can get banking players back into the financial action before it's too late to win. The post Lagging Banks & Credit Unions Can Still Catch Up with Digital Disruption appeared first on The Financial Brand.
PYMNTS
JULY 7, 2019
A new subscription service for news is in the works from Mozilla , according to a report. It said that Mozilla had previously “announced an upcoming collaboration with Scroll aimed at finding a way to help fund news outlets. The organization appears ready to finally launch to the service, sending users a survey, along with invites to an upcoming beta launch of what it calls ‘Firefox Ad-free Internet.
The Financial Brand
JULY 7, 2019
A little-known trip to Seattle to visit a growing 'book company' is just one thing you don't know about America's top banker. The post Why Chase’s Dimon Loves Branches, Admires Bezos & Questions Libra appeared first on The Financial Brand.
PYMNTS
JULY 7, 2019
U.S. self-driving company Cruise revealed that a U.S. national security panel has approved a $2.25 billion investment by Japan’s SoftBank. Last year it was reported that the investment is coming from SoftBank’s $100 billion Vision Fund, making it one of the fund’s biggest investments in self-driving technology. Cruise, which is majority-owned by GM , said at the time that it was on track to start rolling out Cruise AVs in commercial ridesharing fleets this year, as well as launch its own ride an
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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.
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