Chris Skinner
AUGUST 24, 2016
In my final deep dive into blockchain use cases, I come to digital identity. Now this is a thorny area for three reasons. First, we need to understand what we mean by identity before we can talk about how blockchains could help. Second, we need to understand the difference between blockchain and shared ledgers which, … The post Applying Blockchain to Identity appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 24, 2016
MasterCard showed off its updated Masterpass mobile wallet at The Barclays golf event this week. Banks can embed the service to form their own digital wallet, and they won’t even have to pay Apple. There are 17 initial bank partners who supported the enhanced Masterpass, updated as of last month but just now receiving Read More.
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Chris Skinner
AUGUST 24, 2016
Things we’re reading today include … China’s Best Bank Called ‘Mirage’ of Shadow Lending Financial markets rattled by Bank’s Brexit Bazooka Banks are forgetting their social function Blockchain Is Banks’ Secret Sauce Lloyds boss Antonio Horta-Osorio to express ‘deep regret’ to staff following affair allegations Big banks plan new digital currency The euro has destroyed … The post Things worth reading: 24th August 2016 appeared first on
Bank Innovation
AUGUST 24, 2016
As reported last week, Goldman Sachs just announced the creation of a new retail lending arm to launch in October, named Marcus after one of its founders. No one is really all that concerned about whether or not Marcus will be able to do its job— it’s Goldman Sachs after all, and has access to so Read More.
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Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Accenture
AUGUST 24, 2016
Many long-time commercial bankers are getting the same feeling Dorothy had in the Wizard of Oz—that they’re not in Kansas anymore. For example, extrapolation from publically available data suggests that in its quest to sign up new drivers, Uber may. Read more.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
South State Correspondent
AUGUST 24, 2016
It is likely your bank gives away plenty of gifts. For example, you likely have branded pens in your branch for the taking or have a bowl of candy. While nice, that does very little to help customer satisfaction. However, if you take that same gift and present it a different way, it can make a difference. In this post, we explore that art of bank gift giving and at the risk of sounding too Machiavellian will discuss how you can make that gift more meaningful. .
Bank Innovation
AUGUST 24, 2016
Y Combinator President Sam Altman knows fintech — he helped Green Dot build GoBank, after all. So when only two fintech startups made it to the stage yesterday at Day 1 of its Summer Demo Day(s) 2016, we took notice. But today 10 of the 48 demoing companies are fintech-focused, Read More.
PYMNTS
AUGUST 24, 2016
Popular announced on Tuesday (Aug. 23) that it has become the second financial institution in the U.S. and the first in Puerto Rico to offer its credit cards for use in Cuba. In a press release , Popular said the Mastercard credit cards of its two banking subsidiaries, Banco Popular de Puerto Rico and Popular Community Bank, can be used at any of Cuba’s authorized merchants and ATMs throughout the country.
Payments Source
AUGUST 24, 2016
American banks are emerging from one of the most challenging decades for any industry in history, and one area that is showing a potential way forward is payments.
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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
AUGUST 24, 2016
With advancements in technology, parents are doing their homework online before making purchases online and in-store. The Vantiv Back-to-School Report — Special Edition takes a look at the latest back-to-school shopping trends and includes hot-off-the-presses insights from Google. Twenty years ago, taking a trip to the mall or retail store for some good old-fashioned back-to-school shopping was the norm when it came to getting new outfits and supplies.
CFPB Monitor
AUGUST 24, 2016
John L. Culhane, Jr. The CFPB’s Student Loan Ombudsman has released a new “ Mid-year update on student loan complaints ” that highlights issues related to income-driven repayment plan (IDR) application issues. The update covers complaints submitted from October 1, 2015 through May 31, 2016. During that period, the CFPB handled approximately 3,500 private student loan complaints and approximately 1,500 debt collection complaints related to private and federal student loans.
PYMNTS
AUGUST 24, 2016
A&A Vending Services is expanding its relationship with self-service retail market payment technology service provider USA Technologies (USAT). The company announced on Tuesday (Aug. 23) that it has committed to enabling 100 percent of its vending machines with cashless payment options. USAT will assist with upgrading 1,200 of the company’s machines to accept cash, credit/debit cards and mobile wallet payments, such as Android Pay and Apple Pay, through the NFC-capable ePort Connect cashle
CFPB Monitor
AUGUST 24, 2016
Kim Phan. On September 15th, the FTC will hold a workshop to examine the testing and evaluation of disclosures that companies make to consumers about advertising claims, privacy practices, and other information. The FTC’s workshop will explore how to test the effectiveness of these disclosures to ensure consumers notice them, understand them, and can use them in their decision-making.
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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
AUGUST 24, 2016
The blockchain — the underlying technology that powers the digital currency bitcoin — may be nearing its mainstream moment in the sun as four of the world’s largest banks are using it to develop a new form of digital currency. That bank-backed “bitcoin” is intended to become a financial industry standard for making it easier and faster to move money around the world.
Let's Talk Payments
AUGUST 24, 2016
Cloud-based services have been driving efficiency and cost reduction across industries for quite some time now. In banking, however, the transition towards cloud storage and access has not been met.
PYMNTS
AUGUST 24, 2016
From Same Day ACH to paycard controversies , a few recent news stories have placed payroll in center stage. At the heart of the discussion is how companies can pay their employees in a timely manner — naturally, a critical component of a functioning workforce. New research from payments technology firm Hyperwallet is placing data behind the need for employers to come through on payday.
Payments Source
AUGUST 24, 2016
If there is a takeaway from Citigroup's not-quite-stellar rollout of the Costco Anywhere Visa card, it is this: Even in modern times, the transition of large card portfolios from one issuer to another can prove disastrously complex.
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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
AUGUST 24, 2016
Exaggerated claims on expense reports are challenging businesses’ ability to manage employee spend — and their own. A new survey released by travel and expense management company Concur revealed some of the ways manual expense reporting processes are harming employees and the companies they work for, despite automation and digitization having taken off in other parts of business spend processes.
Payments Source
AUGUST 24, 2016
Financial institutions are still developing uses for blockchain, with the latest test coming from The Bank of Tokyo-Mitsubishi UFJ and Hitachi, which are using the technology for issuing, transferring and collecting electronic checks.
PYMNTS
AUGUST 24, 2016
Driverless cars are on the road. Take a ride down US 101 in San Francisco and you may see one. Uber also announced that soon a driverless car might be dispatched to pick up passengers in the Pittsburgh market as it assesses the feasibility of swapping drivers with software. Automotive manufacturers are turning cars into software platforms, too, as Amazon’s Alexa will soon unlock the doors of a consumer’s brand new BMW, and as we profiled recently in an interview with Jim Buczkowski, Ford’s
Let's Talk Payments
AUGUST 24, 2016
Whether in a new form or the old, bank branches are here to stay regardless of desires of financial institutions to cut the costs of maintaining them in face of.
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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.
PYMNTS
AUGUST 24, 2016
A flaw that was previously discovered in the Android operating system’s Linux kernel is now believed to impact four in five devices, an estimated 1.4 billion Android devices. The vulnerability allows an attacker to take over a device’s internet traffic through a TCP connection, enabling secure connections to be exposed in nearly 80 percent of all activated Android devices across the globe.
Bobsguide
AUGUST 24, 2016
The falling price of oil, cheap gas, renewables’ in-built unpredictability and baseline shifts in the global dynamics of energy market supply and demand are increasing the risk profile of energy trades. The challenge is how to prepare for today’s hurdles – and those to come. Take.
PYMNTS
AUGUST 24, 2016
Sears — in what feels like its ever-evolving attempts to reinvent itself for an increasingly fickle modern world — is changing up what it offers in the apparel department. Despite having made few recent changes to its physical plant, Sears is piloting a line of in-store concept shops. Called Showcase at Sears , the clothing featured in the store-within-a-store will draw from international style offerings, particularly European and Latin American apparel brands that have never been available for
Payments Source
AUGUST 24, 2016
Fuel card issuers in recent years have consolidated operations through acquisitions. Norcross, Ga.-based Fleetcor in 2014 purchased Comdata for $3.45 billion, and WEX in 2012 bought Fleet One.
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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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