Payments Dive
SEPTEMBER 6, 2019
Banks and payment networks found themselves highly vulnerable to the recent spate of major hurricanes. Governments, industry organizations and financial institutions have been looking for ways to strengthen these vulnerable systems to make sure consumers and merchants can continue to function during disaster recovery periods.
Bank Innovation
SEPTEMBER 6, 2019
In a bid to grow its deposit base, digital-only Radius Bank is folding debit-based rewards and high-yield savings into one product called Rewards Checking. The account offers 1% cash back on debit transactions and up to 1.2% APY on savings. To access the savings, however, customers need to keep at least $2,500 in their rewards […].
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PYMNTS
SEPTEMBER 6, 2019
The use of digital identities is becoming commonplace, and consumers are largely satisfied with their presence. In fact, PYMNTS’ Digital Identity Lifestyle Capsule found that 100 percent of eCommerce customers who were required to submit digital copies of their physical ID documents when creating accounts said it was a satisfactory authentication process.
Bank Innovation
SEPTEMBER 6, 2019
As banks increasingly take transactions to digital channels, the process to acquire customers also is shifting online thanks to technology that matches product offers to customers based on data. Indeed, Even Financial, a four-year-old startup, has built just such an API to help banks find customers. This week, the New York-based company confirmed a $25 […].
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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
Abrigo
SEPTEMBER 6, 2019
This morning’s BLS Employment Situation Report showed a disappointing 130,000 net jobs created for the month of August. Analysts had anticipated a gain of 150,000 jobs. Moreover, 25,000 of those jobs created were by the Federal Government due to hiring for Census-related activities. The Census will distort the payroll numbers until the process is completed.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
SEPTEMBER 6, 2019
In the waning days of summer, venture capitalists appear to be in a lull: only $51.2 million was placed with B2B FinTechs this week. Startups in India saw the majority of that activity, while France and the U.S. landed on the board, too, as alternative lending, small business banking, back-office financial management and accounts receivable technology enticed backers.
Payments Source
SEPTEMBER 6, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Is Apple crypto in the works?; New iPhones may have fingerprint readers; Grab invests in AI; Upflow draws funding for invoice tech; Venice's vaporettos support contactless pay.
PYMNTS
SEPTEMBER 6, 2019
Fitbit executive Adam Pellegrini will leave the company to join CVS and spearhead its initiatives in consumer health, according to a report by CNBC. Pellegrini will start his position on Monday (Sept. 9). His official title will be senior vice president of transformation consumer health products. Pellegrini will report directly to CVS Chief Transformation Officer Alan Lotvin.
Payments Source
SEPTEMBER 6, 2019
Goldman Sachs Group Inc. is making another bet on a Latin American financial-technology startup, providing a secured credit facility of as much as $100 million to Mexico’s Konfio Ltd.
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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
SEPTEMBER 6, 2019
Amazon is reportedly testing a biometric payment system with a handful of customized vending machines for employee use. In disbursements news, a sizable portion of U.S. workers is engaged at some level with the gig economy, and most of them hope that instant and faster payments continue to grow in scope. And, in retail, wellness innovators are personalizing vitamin subscriptions for better self-care, while disruptors are aiming to replace heavy parking structures with automated towers.
Payments Source
SEPTEMBER 6, 2019
While Gen Z is just beginning to transition into adulthood there are some healthy indicators of how it is approaching credit as well as how it manages debt.
PYMNTS
SEPTEMBER 6, 2019
Investing in IPO s is a bit like dating. The firms going public want to make themselves look as attractive as possible. Typically, that means showing rapidly growing top lines – ideally rapidly growing earnings per share. The idea is that investors own a piece of growth, getting in on the ground floor of a publicly-traded entity. Or, then again, there’s the attraction of getting a bargain – in essence, paying a nickel to get a dime’s worth of value.
Cisco
SEPTEMBER 6, 2019
Retail banks are taking artificial intelligence and machine-learning technologies and running with them. Armed with these tools, they’re adding speed and ease to banking and completely transforming the customer experience. Algorithms are churning out faster, more accurate credit decisions, speeding up risk assessments, and helping banks catch fraud in real time.
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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
SEPTEMBER 6, 2019
Novameat, a Spanish food startup that wants to bring plant-based meat alternatives to the public, has gotten an investment from New Crop Capital to bring its 3D printed plant-based steaks to market, according to a report by TechCrunch. The company was started by Giuseppe Scionti, who works in biomedical engineering, and was built on his many years of work as a professor at the Polytechnic University of Catalonia, the University College of London, Chalmers University and Polytechnic University of
ABA Community Banking
SEPTEMBER 6, 2019
The goal: help the individual or family obtain housing quickly, increase self-sufficiency and keep them housed. The post A ‘Housing First’ Approach to Homelessness appeared first on ABA Banking Journal.
PYMNTS
SEPTEMBER 6, 2019
Both Amazon and Walmart topped the headlines this week, albeit for very different reasons. Amazon captured the bulk of its interest by its attempt to capture more of the average’s consumers whole paycheck with something it is adding — namely a new payment method that requires little more than a consumer waving at a scanner. Walmart, by contrast, captured the lion’s share of its headlines this week with news about a subtraction — namely some firearms and ammunition from its stores.
BankBazaar
SEPTEMBER 6, 2019
Value investing can help you get great returns on your investments in the long run. But what is value investing? Read on to find out. You and your neighbour have bought a new refrigerator. Both of you say, “My refrigerator is a better value buy than yours”. This is because you both have different definitions of value. Maybe you call your refrigerator a good deal because you got it on sale at a good 15% discount.
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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
SEPTEMBER 6, 2019
The power of marketing to persuade is an interesting phenomenon in the age of Instagram because, stated simply, some ideas look better in pictures than they sound by description. For example, most consumers offered a lemonade spiced with charcoal and salt and served in a shampoo bottle would probably decline, as it doesn’t sound like a terribly refreshing drink.
Jack Henry
SEPTEMBER 6, 2019
The commercial line of credit is evolving, for two reasons. First, because it’s time. Second, because it can. The current expansion of the U.S. economy has now become the longest in our history. As we move further into the economic cycle and a period of slower growth, it will become necessary for financial institutions to more closely monitor the condition of their business clients as well as their primary sources of repayment.
PYMNTS
SEPTEMBER 6, 2019
Small business cloud accounting company Xero has announced BP as its latest – and largest – partner to join Xero Connect. Scoop reported on Thursday (Sept. 5) that BP will integrate the Xero Connect eInvoicing solution with BP’s fleet card products, BP Plus Fuel Card in Australia and BP Fuelcard in New Zealand. Small businesses that use these fleet card solutions will see their monthly invoices sent from BP automatically integrated into their Xero accounting platform as a draft bill.
Payments Source
SEPTEMBER 6, 2019
Mobile payments speed and convenience is more than an abstraction, and needs to be quantified, says UJET's Anand Janefalkar.
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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
SEPTEMBER 6, 2019
Trade wars or not, cross-border commerce is among the hottest and most important trends in payments and retail, and that was underscored this week by China-based Alibaba’s announcement that it will buy NetEase ’s cross-border retail platform Kaola for $2 billion. The deal comes amid a general push in China to promote more cross-border eCommerce. Under the acquisition, Kaola will merge with Alibaba’s Tmall Global while still operating independently to create a massive cross-border eCommerce b
Payments Source
SEPTEMBER 6, 2019
U.S. counterfeit card losses have plummeted in the past four years, a signal the challenging EMV migration has made a dent.
PYMNTS
SEPTEMBER 6, 2019
Cloud-based finding platform Tile has announced it is teaming up with Google for Google Assistant voice integration, according to a report. “This is big news for Tile customers,” said Tile CEO CJ Prober. “If you were to lose or misplace your wallet, remote, backpack – anything, Google will soon join your personal search party with a simple voice command.”.
ATM Marketplace
SEPTEMBER 6, 2019
When Microsoft first announced that it would end general support for Windows 7 in January 2015, followed by the end of the extended support program on January 14, 2020, these dates were seemingly light-years away.
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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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