Chris Skinner
NOVEMBER 7, 2018
I was surprised to see that JPMorgan Chase is now hiring people as bankers and, as a mandatory part of their induction programme, they are taught to code. “Coding is not for just tech people, it is for anyone who wants to run a competitive company in the 21st century,” said Mary Callahan … The post Run the bank or change the bank appeared first on Chris Skinner's blog.
PYMNTS
NOVEMBER 7, 2018
Starting a new business is never easy, and new apparel lines are particularly challenging. There are many, many retailers and brands trying to outfit the world, and standing out in the crowd is difficult. But even on the already pitched startup terrain, apparel startup Clandestina, based in Havana, Cuba, had some unique troubles all its own. The brand became the first to launch a website for U.S. sales last month — and it is spinning up to take on its first-ever Christmas season.
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Chris Skinner
NOVEMBER 7, 2018
Things we’re reading today include … Bank by bank, here’s where the hiring and firing will happen next Would you bank with Google, Amazon, Facebook or Apple? TransferWise partners with Dutch challenger bank Bunq Hidden camera reveals how bank employees mislead and upsell on pricey credit card insurance Westpac bets … The post Things worth reading: 8th November 2018 appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 7, 2018
Amid a dizzying night of political drama, a bright spot appeared for the fintech and cryptocurrency communities -- the election of Jared Polis to Governor of Colorado. Polis is known for many things, such as being the first openly gay state governor ever elected and a dot-com millionaire to the tune of $400 million, but […].
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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 7, 2018
Blockchain , the crypto wallet provider, plans to have an airdrop worth $125 million, Fortune reported. Through the cryptocurrency giveaway, each recipient would receive around the equivalent of around $25 in Stellar. The company said in a statement, “Accessible to anyone with a Blockchain Wallet, the first batch of recipients will receive their lumens, Stellar’s native digital currency, this week — for free.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
NOVEMBER 7, 2018
Canada’s St. Francis Xavier University of Nova Scotia (StFX) had to temporarily shut down its entire network due to a crypto-jacking attack. “The malicious software attempted to utilize StFX’s collective computing power in order to create or discover bitcoin for monetary gain. At this time, there is no evidence that any personal information within our network was breached, however, ITS will continue to analyze and monitor for suspicious activity in the days and weeks ahead.
Bank Innovation
NOVEMBER 7, 2018
Amid a dizzying night of political drama, a bright spot appeared for the fintech and cryptocurrency communities -- the election of Jared Polis (D) to Governor of Colorado. Polis is known for many things, such as being the first openly gay state governor ever elected and a dot-com millionaire to the tune of $400 million, […].
PYMNTS
NOVEMBER 7, 2018
American Express India enabled a database to be accessible to anyone for longer than five days in October, according to a report in The Next Web. According to the report , the Hacken cyber consultancy team’s director of cyber risk research, Bob Diachenko, discovered the unprotected database on Oct. 25, and told The Next Web that it included customer names, phone numbers, addresses, PAN numbers and Aadhaar IDs.
Bank Innovation
NOVEMBER 7, 2018
Contactless, not cash, is king in Canada. Brian Lang, president of Mastercard in Canada, said at a closed event in Toronto this week that 50% of transactions in the country are conducted via contactless payments and less than 30% involve cash. Iain McLean, Mastercard’s senior vice president of market development in Canada, said Canada is outpacing […].
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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 7, 2018
New technologies are enabling consumers and business to experience faster payments than ever before: While only 25 real-time payment systems were operational worldwide last year, 40 such rails were live this September, and 67 percent of consumer payments are now made electronically. At the same time, vegan delivery startup Thistle has had astronomical growth , as modern five-and-dime retailer Five Below is opening new stores as other retailers are closing locations.
Payments Source
NOVEMBER 7, 2018
During his time as U.S. attorney general, Jeff Sessions was an outspoken opponent of the legalization of cannabis sales. Now that Sessions has resigned, legal marijuana is poised to become a growth industry.
PYMNTS
NOVEMBER 7, 2018
NatWest, the U.K. financial institution owned by RBS, has launched a mobile app-only small business bank account, according to reports on Tuesday (Nov. 6). Asset Finance International has reported the launch of Mettle, the digital bank account for SMBs. The solution is NatWest’s response to small firms’ demand for digital financial services, offering current account services, invoicing, bookkeeping and a debit card.
Bobsguide
NOVEMBER 7, 2018
Technology, competition, and regulation have put pressure on banks to evolve from lumbering giants to nimble financial ninjas. The transformation of investment and retail banks from their bloated pre-financial crisis operations has been fraught with stringent regulation of their activities and.
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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 7, 2018
LendingClub reported double-digit loan origination growth in the third quarter, outpaced by a jump over the same period for application. Management pointed to tightening credit standards even as rising rates helped boost results, trends that are likely to continue. Overall, the company reported a top line that was up nearly 20 percent to $184.6 million, beating consensus by about $2.6 million.
Payments Source
NOVEMBER 7, 2018
The payments and financial services industry has enjoyed an unprecedented wave of invention, but the fruits of that labor are threatened by an ideologically driven political climate that complicates the evolution of global interoperable mobile-driven commerce.
PYMNTS
NOVEMBER 7, 2018
Amazon announced Wednesday (November 7) that it is expanding grocery pickup from Whole Foods Market through Prime Now to eight more cities. In a press release , Amazon said the cities it expanded to include Birmingham, Colorado Springs, Long Island, Milwaukee, Salt Lake City, San Antonio, Tacoma and Tulsa. Prime customers in those cities now have the option to shop Whole Foods Market and pick up their orders in as little as 30 minutes, without leaving their cars.
Payments Source
NOVEMBER 7, 2018
Instead of focusing on static rewards, card issuers should focus on more proactive and data-driven “rewarding.” This is a profound shift from a transactional strategy to a relational one, writes Kevin Grieve, North America Payments Lead for Accenture.
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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
NOVEMBER 7, 2018
The rise of faster payment systems worldwide are not only enabling payments to move between parties at greatly enhanced speeds, but a growing share of companies are rethinking their traditional business models to take advantage of these more efficient payment tools. The new Smarter Payments Tracker looks at how the rise of faster payment systems is enabling businesses to shift to smarter business models, and prompting different types of businesses — from governments to the gig economy — to deliv
Bobsguide
NOVEMBER 7, 2018
“APIs are new from a technological standpoint, but also what SWIFT has played for since inception,” said the company's head of standards, Stephen Lindsay, on the sidelines at Sibos 2018 in Sydney last week. Application programming interfaces (APIs) are currently being rolled.
PYMNTS
NOVEMBER 7, 2018
Amazon is launching its first-ever printed holiday toy catalog, shipping “A Holiday of Play” to millions of its customers starting this month. “Amazon is excited to offer a new way for customers to shop for toys this holiday season,” Amazon said in a statement, according to CNBC. There were rumors back in July that Amazon was looking to step in to fill the void Toys R Us left and print a holiday catalog of its own.
Payments Source
NOVEMBER 7, 2018
Amazon’s dominance is in no danger, but the e-commerce giant is looking over its shoulder as Walmart and other retail powerhouses close in. The fourth quarter could be a tipping point for Amazon, which recently lowered its holiday sales growth forecast.
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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
NOVEMBER 7, 2018
Ping Identity, the Identity Defined Security (IDS) company, announced on Wednesday (Nov. 7) that it has released the results of the Ping Identity 2018 Consumer Survey: Attitudes and Behavior in a Post-Breach Era , which found that many consumers are making changes in how they interact with companies to ensure their own personal data is protected from a breach.
CFPB Monitor
NOVEMBER 7, 2018
Yesterday, the court reversed course in the lawsuit filed by two industry trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule). On its own initiative, the Texas federal district court granted a stay of the Payday Rule’s August 19, 2019 compliance date and continued in force its stay of the lawsuit.
PYMNTS
NOVEMBER 7, 2018
Mitek Systems announced that it has named Max Carnecchia as its new Chief Executive Officer, and appointed him to the company’s Board of Directors, effective immediately. In August, the company announced that the current CEO and Chairman of the Board Jim DeBello would be departing his roles at the company. DeBello has been with Mitek for 23 years, serving as its CEO for 15 years and chairman of the board for two years.
Payments Source
NOVEMBER 7, 2018
Square gave an earnings forecast in the current quarter that missed analysts’ estimates, amid increasing spending on new products beyond its central payments processing business. The profit projection outweighed a strong sales outlook, sending shares down in extended trading.
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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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