Chris Skinner
OCTOBER 5, 2016
I’m always blogging about replacing core systems, open source the bank, change the leadership to one that gets it and just do it. I’m saying it so much that I’m finding myself boring. So let’s change tack. Who’s the vendor? Not gonna name names, but I’ve had a few really fun discussions with banks in … The post Forget legacy systems; what about legacy vendors?
Bank Innovation
OCTOBER 5, 2016
Some words that should no longer surprise you, because this technology is only growing stronger: in blockchain news, there’s a new player on the block… chain. Doing it, moving on: Blockchain-for-data company Factom Inc. has just raised $4.2M in a Series A, in a round of eleven investors—plus or minus Read More.
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South State Correspondent
OCTOBER 5, 2016
Risk parity is a portfolio allocation strategy that that every bank manager should understand because the concepts are key to understanding how a bank constructs both its balance sheet and its credit portfolio.
Bank Innovation
OCTOBER 5, 2016
We live a world that we still check our wealth from our laptop or our smartphone. Tim Cook is leading us to check our wrist for our health. Wearables for our finances, are still in the “nice to have” category and nowhere close to becoming the next black. Will Goldman Read More.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
PYMNTS
OCTOBER 5, 2016
Did you know that physical trainers and fitness instructors only get paid a very small fraction of the cost you pay the gym per hour? After they’ve pushed you to do a hundred burpees or gotten you to achieve that perfect yoga Crow Pose, they may end up with only $20. When your endorphins wear off, you’ll also notice that your wallet could be a $150 per hour lighter.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Celent Banking
OCTOBER 5, 2016
Having just returned from the whirlwind that is Sibos, I (along with many other industry observers) feel compelled to contribute my two cents on the top takeaways from the event, along with one observation on the mood. Nothing about Sibos can be exhaustive, but three key areas stood out: Cyber, PSD2, and Open Banking / APIs. Cyber was the first topic mentioned in the opening plenary address.
Bank Innovation
OCTOBER 5, 2016
Browsing new startups is so much fun—new companies pop up every day, so there’s always a chance to discover that one description of a newly funded startup’s goals that makes you say, “Why didn’t I think of that?” With that in mind, here are three startups you should keep your Read More.
PYMNTS
OCTOBER 5, 2016
Blockchain technology has allowed businesses to eliminate unnecessary, not to mention costly, intermediaries and significantly reduce international cross-border payment processing time from weeks to a day. With these benefits in mind, blockchain has recently captured the attention of several players from around the faster payments space. From a social messaging platform getting a payments enhancement to a major credit card company testing a yet-to-be-released payment system, plenty of faster pay
Bank Innovation
OCTOBER 5, 2016
Another merchant has launched a mobile payments app — Kohl’s Pay, announced in September, is live nationwide today, the retailer said. Kohl’s was one of the larger members of MCX, the merchant-run mobile payments scheme whose technology, CurrentC, now seemingly exists only as a component of Chase Pay. Many of the Read More.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
PYMNTS
OCTOBER 5, 2016
Each week it seems blockchain just gets another endorsement. This week? Richard Branson. The billionaire and Virgin Group founder said blockchain will create an “ economic revolution ,” especially in developing countries. His reasoning revolves around the issue of proving ownership of certain assets and access to capital. Pointing to economist Hernando de Soto’s work and a partnership with bitcoin and blockchain company Bitfury and the Republic of Georgia’s National Agency of
Bobsguide
OCTOBER 5, 2016
Research earlier this year by US research firm Aite Group for Pershing found that digitally-enabled adviser practices grew assets more quickly than traditional practices over the last twelve months. The survey, of just over 400 US-based financial adviser practices, found that over 90% of.
PYMNTS
OCTOBER 5, 2016
South African FinTech Peach Payments announced on Wednesday (Oct. 5) plans to expand its business to Kenya and Nigeria. The three-year-old startup, which facilitates online and mobile payments in emerging markets, confirmed it is processing more than R1-billion in transactions per year. Peach Payments recently launched a new service aimed at helping businesses collect invoices and payments globally, called PaySafe.
Payments Source
OCTOBER 5, 2016
Kohl's department stores have joined the mobile wallet movement, offering customers the option to link their closed-loop Kohl's Charge cards to the company's mobile app to make mobile payments and redeem rewards.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
PYMNTS
OCTOBER 5, 2016
“One and done?” Or “sure to be more?”. Payments firms want the latter, to move beyond fleeting relationships with customers, and the same is true within the money transfer arena. The process of sending money around the world can be a laborious one, with forms to be filled out and data to be authenticated. The Tuesday (Oct. 4) debut of MoneyGram ’s digital money transfer service, MoneyGram MobilePass, is the the latest news focused on making transactions a bit more seamless, but also
Payments Source
OCTOBER 5, 2016
Preventing fraud across multiple purchasing channels is the next major paradigm shift for bank card issuers and merchants.
PYMNTS
OCTOBER 5, 2016
The use of prepaid cards has exploded over the last decade or so — in 2003 consumers put less than $1 billion on prepaid cards annually, but by 2012 that figure had grown to $65 billion and by 2018 that figure is projected to reach as much as $121 billion. The user base of prepaid cards has grown significantly as well. The cards are largely associated with the 10 million or so unbanked families in the U.S. as one of their primary tools of financial management — since prepaid cards can be used i
Let's Talk Payments
OCTOBER 5, 2016
In modern tech-influenced retail, there are only three moments that matter and all of them have been redefined by financial technology companies. While mobile has been steadily taking over the.
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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
OCTOBER 5, 2016
Today, accounts payable firm MineralTree announced a collaboration with Visa with a goal of helping corporates pay their suppliers by virtual card. Their partnership will create a platform in which Visa’s Payables solutions and card technology integrates into MineralTree’s AP management tool and will be offered to financial institutions so they can support their own corporate clients’ commercial card payment needs.
Let's Talk Payments
OCTOBER 5, 2016
The concept of a traditional financial institution has been widely discriminated when challenger banks came into the scene as a viable alternative to the bank account. Dismembered value chain of.
PYMNTS
OCTOBER 5, 2016
It’s been a year since the EMV card reader deadline. Now, the big card companies — Visa, Mastercard, American Express and others — are all facing a class-action lawsuit brought by retailers over the new chip readers. Florida-based B&R Supermarket Inc. and Grove Liquors LLC are suing on behalf of merchants nationwide, alleging that the credit card companies conspired to dump fraudulent transactions on merchants that didn’t make the EMV card deadline.
Payments Source
OCTOBER 5, 2016
3D Secure — commonly implemented as a prompt for an extra password during an e-commerce checkout — was too clunky to appeal to consumers in its original form. But a nearing upgrade could turn 3D secure into a staple of e-commerce by tying it into mobile wallets.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
PYMNTS
OCTOBER 5, 2016
[link]. Friction is what matchmakers look for in existing businesses and see a path to innovate and disrupt as a result. And it’s what can also sink the best of them. In this week’s episode of The Matchmaker Is In series, hosts Karen Webster and David Evans , economist and author of “ Matchmakers: The New Economics of Multisided Platforms ,” spoke with Iliad Solutions Founder and CEO Anthony Walton on an interesting twist on the matchmaker conversation.
NCR
OCTOBER 5, 2016
For businesses, the digital revolution has opened up a world of opportunity for reducing costs, achieving new efficiencies and engaging with customers. But it’s important to remember that the growth of mobile, online and digital channels doesn’t render the traditional way of doing profitable consumer banking business obsolete. During 2016 we heard FI executives acknowledging that face-to-face contact, reliable knowledge and personal service remain extremely important across a wide de
PYMNTS
OCTOBER 5, 2016
The future looks bright for small businesses in the U.S., particularly for those that have taken to globalize their operations. A new report from American Express examines just how solid international SMEs’ futures appear to be, with evidence revealing the financial benefits of looking overseas for sales opportunities. According to Amex, the data suggests that cross-border trade is worth the risks and challenges. “Our research shows that, despite potential challenges, many companies
Let's Talk Payments
OCTOBER 5, 2016
London is long known to be one of the world’s hubs of innovation with a wide range of disruptive startups coming from the UK’s capital.
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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
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