Chris Skinner

OCTOBER 25, 2016

Mid-way through #money2020 and in my fourth back-to-back chat about Fintech and leadership and core systems renewal and machine learning and and and … I am suddenly taken back to my roots. My roots are firmly in data. I guess that’s because I started in technology looking at office automation and workflow, process re-engineering and … The post If the internet giants are the competition, are banks ready to compete?

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Payments Dive

OCTOBER 25, 2016

With this wacky and wild U.S. presidential election season near its end, some executives in the payments industry wonder how the result will affect financial regulations going forward.

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Bank Innovation

OCTOBER 25, 2016

A recent report by the survey software provider SurveyMonkey indicated that mobile downloads for the bank had dropped 7.7% since the cross-selling scandal broke, while the other megabanks saw increases. So, while Chase, BoA, and Citi saw growth within the expected range for their app downloads after the scandal, only Read More.

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South State Correspondent

OCTOBER 25, 2016

Driven by the need to increase fee income, community banks have been raising out-of-network ATM fees which are now at record highs. While helping with fee income, this could be a long-run strategic mistake for community banks and may serve to decrease profitability instead of helping it. The larger banks, such as Bank of America and Wells Fargo, have a customer base that is comparatively less fee sensitive.

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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

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Bank Innovation

OCTOBER 25, 2016

At Money 2020—a global event surrounding really everything involving money currently happening in the one and only Las Vegas—one of the topics on everyone’s minds is definitely security, specifically of the digital kind. At this point we know the stats—hackers, fraudsters, and very literal-minded smart contract readers have made top-notch Read More.

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Bank Innovation

OCTOBER 25, 2016

Image source Eons ago I managed a sales team that sold core banking systems to global banks. One sales guy was consistently the best performer. I decided to find out his secret to teach it to the rest of the sales team. He had found a report that senior managers Read More.

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PYMNTS

OCTOBER 25, 2016

Visa has its eyes set on an international prize, and it’s planning to take some cues from a new type of currency in order to win it. According to The Wall Street Journal , the company recently rolled out a new technology aimed at taking on a new market by offering international B2B payments. The product is called Visa B2B Connect and, according to recent reports, will use a network modeled after the one powering bitcoin to navigate the complex world of cross-border payments between two companies

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Bank Innovation

OCTOBER 25, 2016

Alternative lending is an area ripe for development and innovation, which is probably why it’s one of the core topics of discussion at this year’s Money20/20 conference currently taking place in Vegas, baby. From the turbulent story of Lending Club to the constant regulatory pressure–as well as fundamental shifts like Read More.

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PYMNTS

OCTOBER 25, 2016

The movement toward secure banking and B2B transactions is one that embraces digital payments. One way to ensure security is, of course, for enterprises to adopt new technologies that verify the parties involved in a transaction are who they say they are. One cutting-edge technology that is gaining some traction among enterprises is biometric authentication.

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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

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Chris Skinner

OCTOBER 25, 2016

Things we’re reading today include … Clydesdale confirms Williams & Glyn offer Lending Club races ahead into car loans Monte dei Paschi shares suspended after 23% fall Deutsche Bank’s ETF unit bleeds $8bn this year Will paper receipts become a thing of the past? The future of trade has rarely looked more uncertain Payments: interloping … The post Things worth reading: 26th October 2016 appeared first on Chris Skinner's blog.

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PYMNTS

OCTOBER 25, 2016

From ramping up free shipping offers to lowering prices on product offerings across multiple channels, merchants are constantly realigning their omnichannel strategy. What works well for merchants one quarter may not necessarily work the next. And what works successfully for one merchant may not work for another. Google, for example, is challenging the need for physical stores to sell its smartphone by pre-packing customer service on a support tab in its smartphone.

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Trends Cards Strategy Mobile 159

Abrigo

OCTOBER 25, 2016

With the recent release of the Financial Accounting Standards Board’s (FASB) guidance on the CECL model , banking professionals and consultants have been theorizing about the impact the standard will have on current bank processes. While it is important for these banking professionals to be prepared, consultants are stressing the importance of tackling today’s allowance challenges too.

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PYMNTS

OCTOBER 25, 2016

The age of interconnected devices may be dawning, if Mastercard has anything to say about it. Mastercard is unveiling an artificial intelligence bot platform that will let users monitor and control their financial lives through social media. Dubbed the Conversational Commerce Service, launched with bot developer Kasisto, the service will be available in early 2017.

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social media Examples Payments Security 159

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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.

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Bobsguide

OCTOBER 25, 2016

Cash-strapped Europe could be falling behind in the development of products based on blockchain technology as US banks are now backing distributed ledgers to save costs and reduce settlement times. According to Reuters, trade finance could become increasingly automated in the next few years as.

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blockchain US Technology 101

PYMNTS

OCTOBER 25, 2016

The gig economy is on the rise. Today, more people are finding themselves employed in short term, ad hoc positions and it’s having a huge impact. Not only has this new sector of the workforce continued to grow, the growth rate is actually outpacing the U.S. economy as a whole. The inaugural PYMNTS Gig Economy Index™ in collaboration with Hyperwallet launched this week to shed light on the people working these gigs and why, as well as insights into the growing number of companies employing

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CFPB Monitor

OCTOBER 25, 2016

Scott M. Pearson. In a new report , the CFPB discusses its approach to FinTech and financial innovation, its Project Catalyst initiative, and marketplace developments the CFPB views as potentially beneficial for consumers. The report, entitled “Project Catalyst report: Promoting consumer-friendly innovation-Innovation Insights,” was released in conjunction with remarks given by Director Cordray at Money 20/20, a large conference focused on payments and financial services innovation.

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PYMNTS

OCTOBER 25, 2016

Chinese shoppers will have more mobile payment options when shopping in the U.S. First Data and Alipay have launched a partnership, bringing Alipay to select U.S. merchants through First Data’s Clover Mini point-of-sale solution. The news of the partnership was announced at Money20/20, and the initiative debuts in November. According to experts, Chinese tourists are projected to spend roughly $40 billion in 2017, and the popular Alipay — with its 450 million users — is one of the main ways these

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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.

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Bobsguide

OCTOBER 25, 2016

All payments businesses share the same objective – to increase their bottom line, but in a marketplace where everyone looks the same, how can financial institutions (FIs) stand out from the competition? With an ever-increasing choice of tier one, challenger and niche FIs competing for a.

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PYMNTS

OCTOBER 25, 2016

Tokenization is looked upon as one of the key ways to secure the increasing amount of connected commerce taking place across the payments ecosystem today, but it isn’t always so simple to get there. Not every business has the ability to scale its security to keep up with the rapid pace at which payments is moving. But Visa announced Monday (Oct. 24) its plan to help drive tokenization throughout the ecosystem by opening up its Visa Token Service (VTS) to third-party partners.

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Let's Talk Payments

OCTOBER 25, 2016

“Loyal customers are one of the primary drivers of any for-profit business. By building loyalty rewards programs, companies aim to heighten the customer experience,” said Kenny M. Smith, Financial Services.

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PYMNTS

OCTOBER 25, 2016

Credit card companies have not been shy when it comes to lending to subprime customers , but according to new data from TransUnion, that strategy is starting to backfire for the credit card issuers. According to a report by The Wall Street Journal , which cited the TransUnion data, missed payments on credit cards that credit card companies issued more recently are at a higher rate than older credit cards.

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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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Let's Talk Payments

OCTOBER 25, 2016

Milan, 6 October 2016 – Satispay, a young Italian company that has radically redefined mobile payments, and the Italian Taxi Union (URI) are announcing an integration between the apps: Satispay.

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PYMNTS

OCTOBER 25, 2016

IdentityMind Global announced Tuesday (Oct. 25) a partnership to integrate its Trusted Digital Identity online fraud prevention and compliance automation platform with Neoway’s Advanced Data solution. In a press release, the company said the partnership offers Neoway a jumpstart in the North American FinTech market, while expanding IdentityMind’s RegTech platform coverage in Latin America, with immediate support for Brazil and Mexico.

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Let's Talk Payments

OCTOBER 25, 2016

Background and Key Summary: Retailers realize the need to offer best-in-class mobile app experiences. To stay competitive in this mobile world, retailers will have to deliver their own branded app.

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PYMNTS

OCTOBER 25, 2016

Facebook’s chatbots are getting an upgrade – care of PayPal. The digital payments platform will now be one of the payment option within messenger – meaning that customers who shop via chatbot will be able to complete transactions via PayPal. Going forward it will also be easier for user to connect their Facebook and Messenger accounts with their PayPal accounts.

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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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