Chris Skinner
NOVEMBER 6, 2018
I was chairing a panel with a number of different players, one of which was Monzo. Simon Vans-Colina, Monzo’s lead engineer for Open APIs, was talking about their approach to partnering with others in an API ecosystem, including TransferWise and Investec Bank. What was not surprising is that the lion’s … The post How online gaming created a challenger bank appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 6, 2018
OTP Bank will launch its second international accelerator program in the first months of next year and is accepting applications from growth-stage startups and scaleups until the end of November. The companies participating in the three-month program will have the chance to refine their solutions through partnerships with a bank, supported by OTP Bank executives, senior […].
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PYMNTS
NOVEMBER 6, 2018
Before Michael Krakaris co-founded an online fulfillment platform for eCommerce merchants, he learned firsthand how companies could reinvent messy spaces with software. One of his first jobs was working for a company that created an application programming interface (API) to help businesses send text messages to their customers. That business solved a major pain point, he says, as companies used to have to make deals with the wireless carriers themselves to have that capability.
Payments Dive
NOVEMBER 6, 2018
As part of its retail transformation initiative, HSBC has partnered with Samsung on exploring the use of smartwatches in bank branches.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
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.
PYMNTS
NOVEMBER 6, 2018
“May you live in interesting times,” runs an old proverb. For those companies navigating the waves of FX volatility — which means a whole lot of companies, large and small, across verticals — these are interesting times indeed. In an interview with Karen Webster of PYMNTS, Karl Schamotta, who serves as chief market strategist at Cambridge Global Payments, said we’re living in a new age.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
NOVEMBER 6, 2018
PCI compliance is vitally important for businesses that process credit cards. The standards put forth by the PCI Security Standards Council – the PCI Data Security Standards – offer a framework for ensuring data security, and they must be followed in order to avoid fines and other penalties. Even worse, failure to comply with these standards can increase a company’s risk of suffering a data breach , which can result in substantial legal liabilities and loss of sales, not to mention irrevocable d
Bank Innovation
NOVEMBER 6, 2018
Autumn is upon us, trees are changing colors, and executives are changing jobs. The job market for digital banking is thriving. JPMorgan plans to hire thousands of people for its technology and digital departments, in addition to an entry-level program to train and nurture young technologists. Bank of America’s Cathy Bessant recently predicted that when […].
PYMNTS
NOVEMBER 6, 2018
Facebook and Google have signed up for new internet standards, which will require internet companies to respect data privacy and “support the best in humanity.” According to Financial Times , the standards were designed by World Wide Web Founder Tim Berners-Lee, who last week warned that the technology giants are now so dominant that they might need to be broken up.
Bank Innovation
NOVEMBER 6, 2018
Autumn is upon us, trees are changing colors, and executives are changing jobs. The job market for digital banking is thriving. JPMorgan plans to hire thousands of people for its technology and digital departments, in addition to an entry-level program to train and nurture young technologists. Bank of America’s Cathy Bessant recently predicted that when […].
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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
NOVEMBER 6, 2018
It’s that time of the year: crowded airports, missed connections, maybe the surprise of an upgrade (to stretch out those legs after sitting all day in meetings or at a holiday gathering). There is also the chance (please no, not this time) of some hassle with payments, such as the corporate account or card not going through, or maybe, on the travel agency side, a software glitch or another problem that adds friction and frustration to an already long travel day.
Bobsguide
NOVEMBER 6, 2018
The software market serving treasury managers requires fundamental change rather than many “flashy” offerings currently being provided by fintech players, according to Phil Beck, head of treasury management at Capital One – the US based banking and finance institution. “A.
PYMNTS
NOVEMBER 6, 2018
Mastercard is working to simplify the daily commute through its “Tap and Ride” program, available in more than 150 cities. A new global study shows that metro systems around the world are carrying close to 170 million passengers each day, and with that number only expected to grow, improving the speed and reliability of transit services is a key concern for most urban residents.
Payments Source
NOVEMBER 6, 2018
Banks, with their lower cost of capital, can take over the loan, either on its own platform or continue using the fintech platform for monitoring and servicing, writes Krista Morgan, CEO of P2Bi.
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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
NOVEMBER 6, 2018
HSBC, the U.K. bank, disclosed on Tuesday (Nov. 6) that some of its U.S. customers had their accounts hacked in October. Reuters , citing a regulatory filing, reported that HSBC said it’s not clear how many accounts were compromised or if any money was stolen from them. “HSBC regrets this incident, and we take our responsibility for protecting our customers very seriously,” an HSBC spokeswoman told Reuters.
Payments Source
NOVEMBER 6, 2018
Companies that rely on contract work also depend on diversifying revenue streams, a cycle that will repeatedly place fresh stress on an already complicated payroll system.
PYMNTS
NOVEMBER 6, 2018
A quick glance at the PYMNTS Subscription Commerce Tracker quickly explains the massive allure of the meal kit delivery business for entrepreneurs of all kinds. The projected value of meal kit subscription sales is estimated to hit $3 billion in 2018. Which is why there are so many players of so many descriptions running after the market. But for all the potential value that could be captured, the trouble with being in the meal delivery box subscription business, according to Thistle CEO Ashwi
Bobsguide
NOVEMBER 6, 2018
This year has been the best environment for treasurers in the US since the global financial crisis, according to Dave Fishman, managing director and head of liquidity solutions, US, Goldman Sachs. “[Post-financial crisis] this is the first time that you’ve been able to achieve on cash.
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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
NOVEMBER 6, 2018
OnDeck Capital said in its third-quarter results that loan origination volume jumped double digits year over year and sequentially, where the volume of $648 million was up 22 percent from the 2017 third quarter and up 10 percent from the second quarter of this year. Credit metrics also improved, said the company, as measured year on year. The provision rate was 6 percent, down from 7 and a half percent last year.
Payments Source
NOVEMBER 6, 2018
There’s an argument to be made that those who have experienced bias—be they women or any other underrepresented group—are likely to have developed some distinctive qualities in response, writes Karla Friede, CEO of Nvoicepay.
PYMNTS
NOVEMBER 6, 2018
NCR , the banking and commerce solutions company, announced Tuesday (Nov. 6) that it has acquired StopLift Checkout Vision Systems, an intelligent computer vision system, to combat theft in the retail business. In a press release , NCR said financial terms of the transaction were not disclosed. “This acquisition will help NCR accelerate growth in our market-leading self-checkout and store transformation solutions,” President and Chief Executive Officer Michael D.
Payments Source
NOVEMBER 6, 2018
The breach may have occurred through a technique called "credential stuffing," in which hackers who have stolen passwords for other websites try them out on an online banking site.
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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
NOVEMBER 6, 2018
With strong income growth, increased customer confidence and low unemployment, U.S. holiday sales may top $1 trillion this year. eMarketer noted that the sales may reach $1.002 trillion for the period extending from Nov. 1 to Dec. 31 — nearly 6 percent more than 2017, CNBC reported. As eMarketer Principal Analyst Andrew Lipsman said in a statement, “While eCommerce will continue to see strong double-digit gains, brick-and-mortar retail should be a particular[ly] bright spot this holiday season
Payments Source
NOVEMBER 6, 2018
As the Federal Reserve guides the U.S. on its steady march toward a faster payments system, a thorny issue continues to plague some of the most prominent efforts: Could the smaller banks stay abreast of the technologies that larger banks are readily supporting and deploying?
PYMNTS
NOVEMBER 6, 2018
Long before Five Below started selling items like Bluetooth headsets and Spalding basketballs for $5 or less, Frank Woolworth opened Utica, New York’s The Great 5¢ Store in 1879. The store’s selection was, of course, decidedly low-tech: the first item sold was a fire shovel for 5 cents, along with novelty items like pencil charms and cake cutters shaped like animals.
Payments Source
NOVEMBER 6, 2018
JPMorgan Chase and Wells Fargo detailed aggressive marketing plans, defended their credit judgments and downplayed the threat of a retailer revolt over high fees on rewards 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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