Thu.Nov 07, 2019

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Taking a stand on data privacy and security in the payments space

Payments Dive

Mastercard last month challenged the industry on adoping a set of new standards on data privacy and security. Computop's founding director Ralf Gladis says the industry should take up the challenge and collectively move in a similar direction.

Security 290
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What do banks think about decentralised finance

Chris Skinner

I got a tweet the other day pointing me to a report from the Financial Stability Board about the use of decentralised technologies for financial services. Excellent report from the Financial Stability Board @fsb about the impact of decentralized #fintech#finserv #DeFi #DLT #payments #lending ??[link] pic.twitter.com/LUfGxn9akl — Sebastien Meunier (@sbmeunier) November … The post What do banks think about decentralised finance appeared first on Chris Skinner's blog.

Lending 260
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Why voice is integral to TD Ameritrade’s customer strategy

Bank Innovation

As financial services companies consider the next wave of interaction technologies, TD Ameritrade is making the case for voice as a channel. Over the past year, the company has invested in voice-based tools to allow customers to learn more about their portfolios. In July, the company rolled out a series of voice-based digital tools to […].

Strategy 186
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Things worth reading: 8th November 2019

Chris Skinner

Things we’re reading today include … Citi, Deutsche get go-ahead to probe regulator witnesses in landmark cartel case Wall Street investors slam Warren’s policies City traders: We want shorter working hours How big tech is dragging us towards the next financial crash Financial crime through video games is on the … The post Things worth reading: 8th November 2019 appeared first on Chris Skinner's blog.

Video 157
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Robinhood is back in Washington’s crosshairs after leverage glitch

Bank Innovation

Robinhood Markets Inc. is once again getting unwanted scrutiny in Washington after some of the brokerage’s customers took advantage of a flaw that allowed them to make highly leveraged trades without putting down enough cash to back the transactions. The glitch, labeled the “infinite money cheat code” by Reddit Inc. users, was exploited by about […].

More Trending

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N26’s Cooke: A global presence is fueling the brand’s expansion

Bank Innovation

To digital banking brand N26, which operates in 26 markets and boasts 3.5 million customers, a global footprint lets it benefit from a wealth of expertise on product development. The company recently began offering products to U.S. customers, supported by an ad campaign that focuses on pain points in banking. While adding new markets adds […].

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Small banks, tap the consortium model for fintech investment to innovate

Accenture

Guest bloggers Alex, Devon, Eliza and Reagan – from Accenture’s Emerging Leaders Program – dive into how regional retail banks combat the challenge of keeping up with the tech acquisition capabilities of larger banks through banking consortium models. A regional retail bank’s ability to effectively future-proof its business depends on how well it can adopt technology….

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USDA Releases Interim Final Hemp Rules

Abrigo

3 minute read Key Takeaways The USDA released their interim rule on hemp production. States and tribes must include key components in their programs. States may begin submitting programs to the USDA for approval. . The 2018 Farm Bill started the process of hemp legalization when it was signed into law back in December 2018, but there was still work to be done before the production and cultivation could be seen as fully legal.

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Deep Dive: Digital ID Systems Wrestle With Ethics

PYMNTS

Digital identities are flexibly changing forms as they gain ubiquity. Consumers around the world log in to eBay with their Facebook profiles, purchase lunches with Apple Pay and in some cases pay their taxes or register to vote with government-provided digital identities. Many expanding technologies raise ethical implementation concerns, and digital ID’s extraordinary potential means coordinating clear and internationally accepted guidelines is increasingly necessary.

System 131
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The State of Automation in Financial Services 2024 Report

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

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ATMIA's Ron Delnevo discusses importance of payment choice, independent ATMs

ATM Marketplace

Ron Delnevo, executive director of Europe at the ATMIA, believes in payment choice. He also thinks independent ATM operators play an important role in keeping cash accessible.

ATM 74
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Visa On Challenging B2B Payments Status Quo

PYMNTS

To change the status quo — to upend the way it’s always been done — the mantra goes, “think outside the box.”. Or in payments, think beyond the rails. To that end, Alan Koenigsberg, global head of new payment flows at Visa Business Solutions , said in a Masterclass interview with Karen Webster that the B2B space represents a landscape ripe with opportunity.

Payments 123
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Can Apple Card's early success translate to sustainable profit?

Payments Source

The Apple Card had the most successful credit card launch ever, according to Apple CEO Tim Cook — but achieving profitability depends on several variables that are still shrouded in mystery.

Apple 68
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SCA Awareness Issues Persist Among EU Merchants, Consumers

PYMNTS

Earlier studies found a surprising lack of both consumer and merchant awareness about the European Union’s Strong Customer Authentication (SCA) and second Payment Services Directive ( PSD2 ) regulations. Post-SCA deadline, a lack of readiness persists. SCA awareness is thankfully high among the payment providers tasked with executing and communicating the mandates to businesses and consumers.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Moving Abroad? Here’s How You Need To Plan Your Finances

BankBazaar

Shifting your base to a different country is a big step, so it’s important to take the right financial steps before you proceed. Read on to find out how you can do just that. Moving abroad can be exciting as well as emotional. Since it’s a big change in your day-to-day life, it can sometimes be overwhelming, especially in the transition phase.

Taxes 68
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Tune.fm Enables Hedera Crypto Payments For Music

PYMNTS

Tune.fm has become the first music streaming platform with an integrated cryptocurrency to run on Hedera Hashgraph ‘s public distributed ledger technology (DLT). Musicians have often struggled to get paid what they are owed for their work. This system will use a Hedera-based crypto token called Jam that enables fast micropayments for every second of music streamed between fans and artists.

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FDIC RESPA Section 8 Settlement Acknowledges Legitimacy of Marketing Arrangements

CFPB Monitor

HomeStreet Bank recently agreed to the issuance of an order to settle an allegation by the FDIC that the bank’s discontinued Home Loan Center-based mortgage business line violated the Real Estate Settlement Procedures Act (RESPA) “by entering into co-marketing agreements using online platforms and desk rental agreements that resulted in the payment of fees to real estate brokers and home builders for their referrals of mortgage loan business.

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Can Robots Help Solve the Fresh Food Problem?

PYMNTS

Fresh food is one of those products that, depending on the context, can almost feel like a minor luxury. Sure, consumers who can get to good grocery stores or farmers’ markets (not all shoppers can) or afford to subscribe to meal-kit delivery services, are assured of a steady supply of nutritious eats. But even so, many consumers work long shifts at places where vending machines and cafeterias offer, at best, mildly nutritious fare.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Square may have cracked the code on monetizing P2P payments

Payments Source

Square Cash generates a lot of revenue – and the road to Square’s success is the Cash P2P app, along with Seller tools, as its two curated ecosystems that are cross-selling their way to profitability.

Tools 67
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Building A Peer-To-Peer Network For Trading Shoes

PYMNTS

Shoe Bank CEO and Co-Founder Roni Harel loves shoes — and she has tons of them sitting in her closet. “Most of them I don’t wear,” Harel told PYMNTS in an interview. She doesn’t get rid of them, and they sit unused because she already invested the money to buy the shoes. And, even though Harel has an extensive collection, the entrepreneur has always wanted new shoes.

Branding 109
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Mastercard, Tappy create payments-enabled Timex watches

Payments Source

Mastercard has formed a strategic partnership with Tappy Technologies, a Hong Kong-based internet of things firm, to develop designer branded contactless payments-enabled wearables, starting with Timex.

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Amazon Ring Security Flaw Opened Door To Hackers

PYMNTS

Amazon Ring fixed a security vulnerability in its Ring Video Doorbell Pro that could have potentially allowed hackers to get homeowners’ Wi-Fi passwords, TechCrunch reported on Thursday (Nov. 7). Cybersecurity research firm Bitdefender exposed the Amazon Ring flaw in a white paper. The company found that when the Ring doorbell is first configured to a Wi-Fi network, the initial connection allows an access point without a password using HTTP.

Security 108
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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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FedNow will have a hard time stopping fraud

Payments Source

If the Fed's new service doesn't effectively prevent existing types of fraud, we might even see fraud increase thanks to the instant payments concept, says Chargeback 911's Monica Eaton-Cardone.

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Italy Opposes German Proposal For EU Banking Union

PYMNTS

A German proposal for the EU’s banking union is being opposed by Italy, which said it would impact banks’ ability to compete, according to a report by The Financial Times. European banks are trying to work out the particulars of an ambitious integration project, but at a meeting of finance ministers in Brussels, Italian Minister of Economy and Finances Roberto Gualtieri said Italy disagrees with a significant facet of Germany’s proposal.

Capital 103
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Curve expands Google Pay's reach in U.K.

Payments Source

A week after U.K. fintech Curve announced its integration with Samsung Pay, it is doing the same with Google Pay in a move that will allow its users to link all of their bank cards to Google's mobile wallet.

Google 63
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Why The QSR Drive-Thru Is Fueling Retail Innovation

PYMNTS

Retail technology is undergoing big changes in the restaurant world, and that includes the drive-thru. New data via PYMNTS research has troubling news for restaurants with drive-thru windows. Consumers spent an average of 20 seconds longer waiting in the drive-thru lane in 2019 than they did last year. Some brands like McDonald’s are turning to voice recognition technology to keep orders moving.

Retail 103
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.