Sun.Nov 03, 2019

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Big Banks versus Big Tech … it’s all about the money

Chris Skinner

I’ve blogged for a while now about the different approaches to Big Tech in China and America. In China, Big Tech is pretty much working hand-in-hand with government to solve society’s issues and police them. People in the West may not like it or understand it, but Big Brotherly Love … The post Big Banks versus Big Tech … it’s all about the money appeared first on Chris Skinner's blog.

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Study: US Housing Market Slows Down As Homeowners Stay Put Longer

PYMNTS

U.S. homeowners’ decision to stay in their homes longer is keeping much-needed inventory off the real estate market, causing a slip in home sales. New analysis by Redfin found that homeowners around the country are typically staying in their homes for 13 years, five years longer than they did in 2010. “If people aren’t moving on, there just are fewer and fewer homes available for new home buyers,” said Daryl Fairweather, Redfin’s chief economist.

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The Finanser’s Week: 28th October – 3rd November 2019

Chris Skinner

The main blog headlines are … McKinsey reckon banks are in a ‘do-or-die’ moment … really? A few talking points last week, but two hit me in particular. The first is a McKinsey report that reckons half of the world’s banks are not viable. Their cost of equity is higher … The post The Finanser’s Week: 28th October – 3rd November 2019 appeared first on Chris Skinner's blog.

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Google Health To Use Search To Innovate Healthcare

PYMNTS

The VP of Google Health has revealed that his focus for the division is on its search capabilities. Speaking at HLTH, a health care conference in Las Vegas, David Feinberg said that Google Health wants to make it easier for doctors to search medical records, as well as boost the quality of health-related search results across Google and YouTube. In 2018, Google hired Feinberg to lead the company’s expansion into the healthcare space.

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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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Uber’s Fintech Strategy: A Conversation With Peter Hazlehurst, Head Of Uber Money

Ron Shevelin

Uber recently announced Uber Money, a new division within the ride-hailing firm. Here's why the strategy is a winner.

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Retailers must act as if crypto payments are inevitable

Payments Source

To lay the groundwork for future success, retailers need to create a digital currency strategy. Most retailers and online brands are aware they need a digital currency plan but don't know where to start the process, says cryptocurrency lawyer Felix Shipkevich.

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Goldman Extends $10B In Apple Card Credit In First Month

PYMNTS

Goldman Sachs said it doled out about $10 billion in credit lines in just over month for the Apple -branded credit card, Bloomberg reported on Friday (Nov. 1). . According to regulatory filings made public this week, Apple Card? customers had $736 million in loan balances at the end of September, though it’s not clear how that compares with other credit cards, as Bloomberg said banks do not break out performance by individual cards.

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Improve Bank Boards Through A Disciplined Nomination Process

Jeff For Banks

" Rigorous, peer-reviewed studies suggest that companies do not perform better when they have women on the board. Nor do they perform worse." ~ Katherine Klein, University of Pennsylvania Do you know how difficult my life might become for the above quote? Just yesterday I received a newsletter from a highly regarded executive recruiting firm that said "publicly traded companies with a diverse board of directors generate higher return on investment (ROI) than those that aren't as diverse.

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SMB Lending In Australia After Lending Standards Are Waived

PYMNTS

Australia is making small business lending easier by waiving responsible lending standards for small firms. Treasurer Josh Frydenberg announced last week that he would instruct the Australian Securities and Investments Commission (ASIC) to order banks to waive the standards for SMBs. He explained that small businesses have had to tighten consumer lending since the Hayne royal commission, when banks were scrutinized for their lending practices to small businesses because many consumers were using

Lending 101
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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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In 2017, Incumbents' Mobile-First Standalone Bank Initiatives Peaked – Here's What Happened Next

Let's Talk Payments

A decade or two ago, timely visits to bank branches were quite common – and these visits were dominated by paperwork (usually multiple documents).

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SPEZA To Accept China’s New Sovereign Digital Currency

PYMNTS

FinTech company SPEZA announced that it will be able to accept China’s Digital Currency Electronic Payment (DCEP), the world’s first sovereign digital currency. The digital asset solutions provider, exchange operator and regulator, based in Malaysia, will also accept all major digital assets listed on SPEZA Digital Asset Exchange. “SPEZA is looking forward to working closely with the authorities and being among the first Digital Asset Exchanges in the world to adopt DCEP,” said attorney Edwin Al

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Open Banking Fintech Partnerships Required For Better Consumer Experiences

The Financial Brand

To provide the level of customer experiences expected, traditional banks and credit unions need to leverage open banking partnerships with fintech firms. The post Open Banking Fintech Partnerships Required For Better Consumer Experiences appeared first on The Financial Brand.

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McDonald’s CEO Ousted Over Relationship With Staffer

PYMNTS

McDonald ’s has fired its chief executive officer because of a consensual relationship he had with an employee. The fast food giant announced that its board voted late last week to fire Steve Easterbrook after investigating his relationship with the unnamed employee. Easterbrook, who has been the company’s CEO since March 2015, also resigned from McDonald’s board.

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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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Marketing Budgets: Where Credit Unions Are Spending in 2020

The Financial Brand

Credit union marketers explain how they will be allocating their marketing budgets on media, martech, new tools, staffing, digital, and more. The post Marketing Budgets: Where Credit Unions Are Spending in 2020 appeared first on The Financial Brand.

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CapOne Back Online After Major Outage

PYMNTS

Capital One saw an outage on Friday (Nov. 1) that kept some of its customers from accessing their accounts and direct deposits, a technical issue that the company has resolved, CNET reported. . “ Capital One is experiencing a technical issue impacting customer money movement, including direct deposits, and the ability for some customers to access accounts.

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What Banking’s Future Looks Like to Wells Fargo’s Innovation Chief

The Financial Brand

You'll want to hear what Lisa Frazier has to say about when to use AI, the importance of platforms, and creating a new branch experience. The post What Banking’s Future Looks Like to Wells Fargo’s Innovation Chief appeared first on The Financial Brand.

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Bitcoin Daily: Telegram Blockchain Startup Pilots Crypto Wallet; Ember Crypto Portfolio App Looks To Raise $1M In Securities Sale

PYMNTS

Telegram has released an early desktop wallet for its “gram” token, allowing users to download the test app for MacOS, Windows and Linux 64 bit. “Now you have a wallet only you control – directly, without middlemen or bankers,” the app says, according to CoinDesk. The company had planned to release its blockchain project, TON, until the company was sued by the United States Securities and Exchange Commission (SEC), which declared grams were unregistered securities.

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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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Marketing Budgets: Where Banks Are Spending in 2020

The Financial Brand

Bank marketers explain how they will be allocating their marketing budgets on media, martech, new tools, staffing, digital, and more. The post Marketing Budgets: Where Banks Are Spending in 2020 appeared first on The Financial Brand.

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Capital One Resolves Glitch Keeping Customers From Their Money

PYMNTS

Capital One saw an outage on Friday (Nov. 1) that kept some of its customers from accessing their accounts and direct deposits, a technical issue that the company has resolved, CNET reported. . “ Capital One is experiencing a technical issue impacting customer money movement, including direct deposits, and the ability for some customers to access accounts.

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