Payments Dive
MAY 10, 2019
As venture capital continues to look for new opportunties, startup firms in the fintech space are taking unique approaches to payments and financing to raise new funding to accelerate their growth.
Bank Innovation
MAY 10, 2019
The U.S. House Financial Services Committee has unanimously adopted two resolutions establishing task forces for fintech and artificial intelligence. The Task Force on Financial Technology will examine issues including “the current legal framework for fintech, how fintech is used in lending and how consumers engage with fintech,” the committee stated.
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PYMNTS
MAY 10, 2019
Walmart Brasil has announced it will shutter its eCommerce division in Brazil and focus on physical stores, according to a report by Reuters. The company said it plans to turn underperforming hypermarkets into brick-and-mortar wholesale stores. Wholesale has become more and more popular in Brazil as the country pulls out of a difficult recession. “The company is working in a new omnichannel strategy which will be later announced,” Walmart Brasil said in a statement on Friday (May 10).
Bank Innovation
MAY 10, 2019
Banks and their venture arms increasingly are backing cybersecurity startups, investing in everything from threat intelligence to data security firms, according to a new CB Insights report. In 2018, select financial firms including JPMorgan Chase, Goldman Sachs and Citigroup and its VC arm Citi Ventures, participated in a record-high 13 deals with cybersecurity startups.
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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
MAY 10, 2019
Among the highest ideals for digital payments – driving innovation in transactions and customer experience – is, of course, the concept of seamlessness. That implies an ease of use while giving up nothing when it comes to security. Getting there is a long road with many twists and turns, with guidance provided not only by back-end technology but also by updated rules from organizations with a governing role across the payments industry.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
MAY 10, 2019
The eyeDisk, a USB flash drive that claims to be unhackable, has been hacked by a U.K.-based cybersecurity firm called Pen Test Partners, according to a report by TechCrunch. The device raised upwards of $21,000 in a Kickstarter campaign, and the company behind it began sending out the devices in March. “With eyeDisk you never need to worry about losing your USB or the vulnerability of your data stored in it. eyeDisk features AES 256-bit encryption for your iris pattern,” the Kickstarter page
Payments Source
MAY 10, 2019
Amazon is undeniably a juggernaut in the realm of e-commerce and digital payments — but its journey was filled with missteps and failed experiments.
PYMNTS
MAY 10, 2019
Vending machine operators have become increasingly attentive to the demand for swift digital payment options, and have benefitted from significant sales growth after enabling cashless payments. However, for the 8.4 million unbanked U.S. households, retailers that enable digital payments while dropping cash are less than convenient. Unattended retail operators are taking a fresh look at keeping cash acceptance on the menu to appease lawmakers who recently issued legislation intended to ensure the
Bobsguide
MAY 10, 2019
Digital subsidiaries launched by major banks are more about fresh business models than experimenting with technology, says Scott Mullins, head of worldwide financial services business development at Amazon Web Services (AWS), though agile cloud-based entrants have raised the bar when it comes to.
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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
MAY 10, 2019
Call it a less than auspicious beginning. When the rubber met the road, when the trading actually became reality, Uber sputtered. To say the least. The fact is, a busted IPO is a busted IPO, and while one day of trading does not a trend make, it cannot be argued that Uber’s initial public offering was a triumph. The stock closed down 7.6 percent on the day — and curiously, the general markets, at least as measured by the Standard and Poor’s 500 Stock Index, were up (by roughly 35 basis poi
Bobsguide
MAY 10, 2019
The Nordic countries have solved this by successfully establishing electronic Identity (eID) schemes. The eID is used by casual users (93% of Norwegians on a weekly basis), and recognized by public services and many private businesses. But what exactly are eIDs, why are they important, what are.
PYMNTS
MAY 10, 2019
High end? Low end? Smack in the middle? As it turns out, after much anticipation, it’s the low end. Uber ’s pricing came on Thursday (May 9) night and comes before the open, which may say a lot about not only Uber’s uber initial public offering ( IPO ), but how investors may be viewing tech in general. Friday (May 10) is the debut, of course, with Thursday’s New York Stock Exchange offering bringing a bit of anticipation into the day.
Bobsguide
MAY 10, 2019
The Wolfsberg Group, an association of 13 global banks which aims to develop frameworks and guidance for the management of financial crime risks, issued new guidance for sanctions screening earlier this year to provide financial institutions (FIs) with a stronger toolkit for dealing with money.
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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
MAY 10, 2019
At the end of another busy week, it can pay to look back at some of the biggest recent news in payments and commerce. And this week was a meaty one for news: Mastercard and Visa made acquisitions, the Facebook payment proposition was dissected, new findings about payments and retail innovation emerged, and the pet retail segment gained a major new source of fuel.
Payments Source
MAY 10, 2019
Solving open banking's challenges requires a whole new approach to international payments beyond basic open development, says Marten Nelson, co-founder of Token.io.
PYMNTS
MAY 10, 2019
Home prices increased about 5 percent in Canadian province British Columbia last year thanks to money laundering. According to a report in The Wall Street Journal citing government reports, the increase in money laundering is raising the prices in one of the most in-demand areas of the real estate market. About $3.71 billion of dirty money went through the real estate market in 2018, including in Vancouver.
Tom Groenfeldt
MAY 10, 2019
The World Council of Credit Unions helps develop new technology, like mobile banking, that credit unions need but cant afford to develop on their own.
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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
MAY 10, 2019
It is hard to argue, after five decades in existence, that the ATM hasn’t been an overwhelming success as financial products go — in fact, it has changed the face of how consumers interact with banks. What can be harder to see, as Michael Engel, managing director and VP of software sales banking at Diebold Nixdorf , told PYMNTS in a recent conversation, is how ATMs are continuing to act as an agent of change in the financial marketplace.
Payments Source
MAY 10, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Swift seeks IT experts; Tencent and Ant get bank licenses in Hong Kong; Google updates security and payment acceptance; Dapps face more regulations.
PYMNTS
MAY 10, 2019
The Federal Reserve has released a request for comment on potential changes to its National Settlement Service (NSS) and Fedwire Funds Service, as well as feedback on a possible new posting time for transactions, and an increased daylight overdraft fee. “On Sept. 13, 2018, NACHA , the rules and standards body for the ACH network, announced that its voting members had approved amendments to the NACHA Operating Rules & Guidelines to establish a third Same Day ACH processing and settlemen
CFPB Monitor
MAY 10, 2019
One day after announcing its notice of proposed rulemaking regarding the Fair Debt Collection Practices Act (FDCPA), the CFPB held a town hall at the University of Pennsylvania to discuss the major aspects of the proposal, gauge stakeholders’ reactions, and field comments from the public. The town hall consisted of opening remarks by Director Kraninger, a panel discussion with Bureau staff, industry representatives, and consumer advocates, and an open question and answer segment with members of
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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
MAY 10, 2019
Following a claim of fraud by a short seller, shares in eCommerce firm Jumia fell by almost 25 percent by midday New York time on Friday (May 10) and traded at $20.30 at one point, the Financial Times reported. The stock, however, was trading higher – at $25.78 – as of 3:43 p.m. EST, according to Yahoo! Finance. Short seller Citron Research claimed, according to reports, that it had a confidential presentation Jumia made to investors in October.
Payments Source
MAY 10, 2019
Despite the technology advancements of the past decade, many consumers still provide spoken card details over the phone to company call centers. The practice has triggered security concerns throughout the payments industry.
PYMNTS
MAY 10, 2019
New data shows that smartphone shipments in North America have fallen to a five-year low , plummeting 18 percent year on year in the first quarter of 2019. According to a report from Canalys , shipments plunged from 44.4 million to 36.4 million, with some of the issues caused by “a lackluster performance by Apple , and the absence of ZTE.”. Apple is still the top dog in the category, however.
ATM Marketplace
MAY 10, 2019
San Francisco has become the latest city to say no to cashless retail and foodservice as advocates for vulnerable populations demand equal access to shopping and dining establishments for the unbanked.
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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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