Bank Innovation
JANUARY 16, 2018
EXCLUSIVE – After more than two years of planning, Payments Services Directive II or PSD2 finally arrived in Europe on Saturday. The regulation has been dubbed as one of the more substantial regulatory changes of its kind in Europe. While many traditional banks and FIs might not be thrilled about having to open their APIs […].
Chris Skinner
JANUARY 16, 2018
I am tempted to predict the price of bitcoin for the end of 2018 but know I’d be wrong, so I’m not. It could be $1 or $1 million. I’m not going to forecast it, as there are over 1,000 digital currencies out there and who knows which will be … The post Bitcoin: More electricity consumption than the entire planet? appeared first on Chris Skinner's blog.
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Bank Innovation
JANUARY 16, 2018
Rarely a day goes by that the financial industry isn’t being infused with the latest and greatest technologies. Fintech, or the marriage between finance and technology, is several decades in the making. For market participants, this means a world of possibilities. While it’s nearly impossible to predict what the latest fintech breakthrough will deliver, at […].
Payments Dive
JANUARY 16, 2018
The pending arrival of another mobile wallet in the U.S. raises some questions about how a new entrant can succeed among a growing number of options in the market.
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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
Bank Innovation
JANUARY 16, 2018
EXCLUSIVE – Biometrics is expected by many to make it big in the payments space this year. Just ask Fingerprints Card AB, which teamed up with Visa on a dual-interface biometric payment trial in the U.S. Along with Mountain America Credit Union, the Swedish biometrics company Fingerprints announced yesterday that it would launch a dual-interface […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 16, 2018
Indian fintech RazorPay has raised $20 million in a Series B for its payments gateway, the company announced yesterday. A round led by Tiger Global, as well as Silicon Valley’s Y Combinator, the influx of capital brings the startup’s total valuation to more than $100 million, TechCrunch reported yesterday. The funding should allow the startup […].
PYMNTS
JANUARY 16, 2018
Musicians have a complicated relationship with monetizing their art. They create the songs, but the record labels that distribute them tend to own the song catalogs, which, over the decades, has led to a series of thrilling legal disputes over ownership. Think Paul McCartney’s now 40-year fight for the rights to the Beatles albums , or Prince’s decade-long standoff with Warner Brothers.
Bank Innovation
JANUARY 16, 2018
EXCLUSIVE—Crypto wallet provider Wirex will be expanding its services to several new markets in 2018, including the United States, CEO Pavel Matveev told Bank Innovation. “It’s [one of] our top priorities at the moment, we are in the process of getting a company, looking for names,” Matveev said. “We are planning to launch with product […].
PYMNTS
JANUARY 16, 2018
Attempts to commit online fraud jumped during the holiday season, increasing 22 percent from Thanksgiving to December compared to a year ago. That’s according to new data from payments company ACI Worldwide , which found that along with the fraud increase, overall online transactions also jumped 19 percent from Thanksgiving to the end of 2017.
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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
Bobsguide
JANUARY 16, 2018
Ripple has caused quite a stir (we resisted the pun) in the cryptocurrency market. Recent dips and spikes of XRP, Ripple’s cryptocurrency, have caused many commentators to question the long-term durability of the currency. However, few can deny that Ripple is being closely watched by the.
PYMNTS
JANUARY 16, 2018
An increasing number of consumers are getting a roommate, and her name is Alexa. She’s smart, and she’s also learning. Between 2017 and the beginning of 2018, the number of Alexa skills skyrocketed to more than 25,000 from 7,053 in the U.S. and have increased a little more than 100 percent in the U.K over the same period. Amazon’s assistant has also become more well-known and popular.
Gonzobanker
JANUARY 16, 2018
It shouldn’t be hard to convince you that the banking industry has changed dramatically over the past 10 years. The introduction of smartphones kick-started the mobile banking revolution, the financial crisis brought on a world of regulatory pain, and the emergence of fintech startups threatens to disrupt, displace and, well, “diss” banks altogether.
PYMNTS
JANUARY 16, 2018
The Google generation is changing industries from retail to call centers — and everything in between. Thanks to the internet, DIY solutions to problems big and small are often just a few clicks away. But when it comes to a broken appliance, or getting locked out of an online account, consumers still tend to pick up the phone and dial into a company’s hotline.
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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.
Payments Source
JANUARY 16, 2018
Bank of America Corp. may not be willing to help customers invest in bitcoin, but that doesn’t mean it isn’t plowing into the technology underlying the cryptocurrency.
PYMNTS
JANUARY 16, 2018
Can blockchain, the distributed ledger technology behind bitcoin and other cryptocurrencies, speed up international trade, historically beleaguered under paperwork and bureaucracy? Container shipping firm A.P. Moller-Maersk and IBM think so, reports Reuters. The companies, each a giant in its industry, have teamed up to create an industry-wide trading platform that they say will accelerate global trade and also save billions of dollars in the process.
Payments Source
JANUARY 16, 2018
To date, the vast majority of security investment has focused firmly on keeping the bad guys out. It only ever works to a certain extent. This is because there is much greater impetus for the hackers to devise new methodologies to gain access and the security industry at large is only ever playing catch up, writes James Barham, chief commercial officer at PCI Pal.
PYMNTS
JANUARY 16, 2018
Mobile order-ahead isn’t just for fast food. Across the brick-and-mortar spectrum, many retailers are leveraging it as a way to close the loop between real-world and digital experiences — and to provide a better, more compelling service experience for customers. Several major grocers (Kroger, Stop & Shop and even Amazon) have a click-and-collect option that lets shoppers fill their carts online, pay, then roll up and load the haul into their cars.
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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.
Payments Source
JANUARY 16, 2018
Payments security experts are warning of the risks to some merchants with payment systems that transmit cardholder data from the processor back to the point of sale from the Spectre and Meltdown computer chip flaws.
PYMNTS
JANUARY 16, 2018
In South Korea, a petition seeking a halt to the government’s bitcoin crackdown has gathered momentum — to the tune of more than 212,000 signatures. The petition wants regulators to stop their efforts to curb cryptocurrencies and, by extension, crush the “happy dream” of those bullish on digital currencies. As reported by CNBC , the petition has been posted on the South Korean presidential website, stating that if more than 200,000 signatures are gathered within 30 days, government officials wil
Payments Source
JANUARY 16, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Bitcoin mining stresses electrical grids; State taxes for cryptocurrency; Facebook payments expand in Africa; A pop song in Japan for cryptocurrency.
PYMNTS
JANUARY 16, 2018
WeChat’s nearly 1 billion users will soon be able to resume sending tip-style gifts on their iPhones, thanks to a recent deal between Apple and Tencent. According to Vulture , the specific date for the return of tipping was not given, but the companies have been discussing it for months. Tipping had been a large part of WeChat’s growth, allowing users to store funds in their Tencent wallets so they could reward stars to video content producers for entertaining people.
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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.
Payments Source
JANUARY 16, 2018
Despite the growing legality of marijuana sales, banks have largely written off the industry as being too high-risk. Recent remarks by Attorney General Jeff Sessions would seem to reinforce that position.
PYMNTS
JANUARY 16, 2018
Whole Foods’ private-label brand is aiding sales at Amazon’s online grocery delivery service, AmazonFresh, which were up 35 percent to $135 million in the last four months of 2017, the Wall Street Journal reported. The most popular Whole Foods items on the Amazon site included organic baby spinach, shredded Parmesan cheese, organic riced cauliflower, unsalted butter and smokehouse bacon, a One Click Retail analysis found.
Bobsguide
JANUARY 16, 2018
Software development is one of those occupations that has no ending. There is never a point in time where you can sit back, look at your work and say: “Well I’m glad that’s finished." The reason is that development never ends because the rate of change and new demands are.
PYMNTS
JANUARY 16, 2018
Scott Tucker ’s pre-sentencing “apology” will not likely be remembered as one of history’s greatest all-time allocutions of contrition. The Kansas businessman – facing a 2017 conviction for violating federal truth in lending and racketeering laws in connection with his online lending business – attempted to apologize for the $3.5 billion he reportedly made while running that business.
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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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