Bank Innovation
AUGUST 22, 2016
Is blockchain reaching a tipping point? I’m not talking about the public, but among the early adapters who set the tone for what comes one or two years down the line. A little evidence: A Juniper Research study reveals that venture capitalists have poured $290 million into blockchain technologies and bitcoin companies Read More.
Chris Skinner
AUGUST 22, 2016
I’ve blogged for over a week about blockchain based developments in Clearing & Settlement and Trade Finance, and will continue for another week talking about the developments in Payments and Digital Identity. However, at this point, I should clarify that I use the term blockchain as an overall term to describe what is happening. I … The post Applying Blockchain to Payments appeared first on Chris Skinner's blog.
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Bank Innovation
AUGUST 22, 2016
Ever since Walmart announced its planned acquisition of Jet.com, the online shopping platform headed by Quidsi founder and Amazon challenger Marc Lore, there’s been speculation over whether the physical retailer will actually be able to offer Amazon.com some healthy competition in the ecommerce sector. However, despite the overall positive (though not fantastic) Read More.
Chris Skinner
AUGUST 22, 2016
Things we’re reading today include … Bank branch closures trigger high street alarm bells Establishment has much to learn from new breed of retail banks This is how scammers are using iPods to steal your bank details FCA reviews blockchain companies BBVA warns bonus cap hurts tech push U.S. banks want to cut branches, but … The post Things worth reading: 22nd August 2016 appeared first on Chris Skinner's blog.
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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 22, 2016
There was a time when it seemed that ubiquity would become the focal point of full-service and mobile payments systems. Experts believed that universally accepted mobile wallets from trusted companies like Apple or Samsung would dominate the new wave of payments. That belief was perhaps misguided, according to Stephen Goodrich, president and CEO of ZipLine, the company that built the loyalty and mobile payments app known as SmartPay for popular convenience and gas chain Cumberland Farms.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
AUGUST 22, 2016
“ Reality Check ” was a TV show that aired in 1995 about a couple of kids who moved into a house and found a computer that was left behind by the previous owner. These kids – Samantha and Nick – soon discovered that the computer was not your run-of-the-mill ugly beige Compaq. Stuck inside the computer was the original owner of the house, a guy named Jack Clark.
Payments Source
AUGUST 22, 2016
Industrial Credit and Investment Corporation of India has launched a payment service through its mobile banking app using smartphone keyboard technology developed at one of its mobile development challenge events.
PYMNTS
AUGUST 22, 2016
Though often written about and praised highly, the digital-only world may not have quite the number of converts the tech press would lead one to believe. Case in point? Banking. Despite banks’ best efforts to move more of their customers online – and thus lessen the need for overhead-heavy branches – consumers are turning out to be way more into visiting the local branch than initially imagined.
Bobsguide
AUGUST 22, 2016
One of the central tenets of EDM is that it should promote trust and confidence in a firm’s data assets by applying a consistent approach to assuring data quality. However, in order to achieve that goal (particular with regards to consistency), it is important that EDM teams can service all of.
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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 22, 2016
Digital alternatives may rid the world of some of life’s inconveniences, but for the banking sector, a trip to the local branch is not yet replaceable. Although consumers are increasingly turning to digital banking services, many still cling to the services of their brick-and-mortar counterparts — the stalwarts of the finance industry. Nevertheless, the number of bank branches is lower now than at any other time in the last decade and continues to decline.
CFPB Monitor
AUGUST 22, 2016
Barbara S. Mishkin. Last month, a bipartisan group of 70 Senators were signatories to a letter sent to Director Cordray urging the CFPB to “carefully tailor its regulations to match the unique nature of community banks and credit unions.” In their letter, the Senators referenced Dodd Frank Section 1022(b)(3)(A) which allows the CFPB to create exemptions from its rules for any class of covered persons, service providers, or consumer financial products or services as the CFPB “d
PYMNTS
AUGUST 22, 2016
Facial recognition is supposed to make computing and banking much more secure, but just like most efforts to fight the bad guys, hackers can apparently infiltrate that, too. That’s according to a report by Wired , which showcased how researchers have been able to demonstrate a new method to steal a face using 3D rendering and light sleuth work online.
Bobsguide
AUGUST 22, 2016
The Financial Conduct Authority (FCA) is moving with the digital times by playing a key role in creating a regulatory environment for fintech to thrive. As part of the FCA’s Project Innovate – an initiative introduced in late 2014 to promote competition through disruptive innovation.
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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 22, 2016
The message is clear: Automated, digital FinTech solutions can help businesses and financial service providers save money. But it may be more effective to actually show how much money can be saved. The latest research puts a price tag on the finances of better procurement, banking, cash management and innovation among small and medium-sized businesses. $139 billion could be saved by U.K.
Let's Talk Payments
AUGUST 22, 2016
Africa is the largest unserved market that has dropped out of sight of the global financial system. Some estimations suggest that there are ~330 million adult Africans, who lack access.
PYMNTS
AUGUST 22, 2016
[link]. Payments have not crossed the digital Rubicon just yet. And with 2 billion people in the world who still transact primarily with cash, global players must operate with one foot in the virtual space and one foot firmly in the paper trade — in other words, hard currency. In last Friday’s Topic TBD episode, PYMNTS’ Karen Webster and MoneyGram CEO Alex Holmes chatted about that great digital/physical divide — namely, the continued use of cash, which many contend is not exactly the most effic
Payments Source
AUGUST 22, 2016
Acquirers and independent sales organizations have long heard a similar refrain: Adjust to the fast pace of technology or perish.
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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
AUGUST 22, 2016
Could tech stocks be hijacking the U.S. stock market? As computer and software equities drive seemingly ever higher, with several marquee names such as Microsoft and Alphabet having doubled off levels seen just a few years ago, those companies are exhibiting more influence over the overall direction of the stock market. After all, as market capitalizations grow, weighted indices tend to move in the same direction as the heaviest hitters.
NCR
AUGUST 22, 2016
In today’s fast-paced global environment, consumers and businesses expect quick and convenient payment systems for both domestic and international transactions. A number of countries already have real-time payment frameworks, including the UK’s Faster Payments Scheme, Sweden’s Immediate Payments Scheme and Singapore’s G3. Meanwhile, recent analysis from the Bank of Canada revealed a global trend whereby most countries are now introducing new infrastructure to support real
PYMNTS
AUGUST 22, 2016
Want to dress like Brad Pitt or George Clooney? Then, try Looklive. Looklive is a men’s fashion app that lets men shop the looks of their favorite celebrities and then gives them the option of buying those same clothes or styles (or something more affordable that might be similar to what their favorite celebrities like to wear), according to TechCrunch.
Let's Talk Payments
AUGUST 22, 2016
According to the National Venture Capital Association (NVCA), in Q2 2016, US VC firms raised $8.8 billion for 67 funds, which is more than a 26% decrease from the $12 billion.
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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
AUGUST 22, 2016
Pokémon GO is already one of the most successful apps in history, and everything from bars and restaurants to retailers have jumped in to offer promotions or deals to try and capitalize on the craze. But is the smartwatch industry missing out on a major opportunity to also capitalize on this craze? That’s what Ryan Fuoco, a category analyst at The NPD Group , believes after — ahem — “play testing” the game for a few weeks in the name of research (he swears it).
Payments Source
AUGUST 22, 2016
Diebold Nixdorf’s shiny new corporate moniker is already threatened by a possible deep investigation by U.K. authorities into the company’s possible anti-competitive violations.
PYMNTS
AUGUST 22, 2016
The Apple iPhone 6s “Live Photo” feature may present a biometric security vulnerability in various mobile banking applications. According to security researcher Meaghan Johnson from Fintech consultancy firm 11:FS, the Live Photo capability enabled her to bypass the facial recognition security method on mobile banking apps for two financial institutions.
Payments Source
AUGUST 22, 2016
As it charts a long-term digital payment strategy, TSYS has hired Karim Ahmad, a management consultant with a background in financial technology, to be as head of global product and innovation.
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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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