January, 2019

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How financial institutions are embracing blockchain

Payments Dive

What's holding the blockchain back? What can make it more secure? Panelists at Financial Services Data Security Summit, sponsored by Thales and Networld Media Group, shared thoughts on these issues.

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FinTech Forecasts for 2019

Chris Skinner

There are many pundits predicting change in banking and FinTech this year. Here’s a review of a few of the ones that have some depth. American Banker published seven FinTech predictions for 2019 by Bob Legters, Chief Product Officer of Banking and Payments at FIS. The seven headlines are: We won’t … The post FinTech Forecasts for 2019 appeared first on Chris Skinner's blog.

Fintech 417
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The Impact of Technology on Banking: Revolution or Evolution?

Bank Innovation

For quite a long time, traditional brick and mortar banks only had to worry about making money and being profitable. All that is changing due to emerging technologies. The banking industry is facing many unprecedented challenges due to the rise of financial technology companies. Industry-leading operators, as well as ambitious startups in the banking scene, […].

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Credit Unions Step Up During Government Shutdown

PYMNTS

There is no shortage of headlines about the partial government shutdown that is now on its 27th day, and no shortage of articles speculating how long it will go on, what will be affected and (most often) what it will take to finally bring it to an end. There is, yet, one simple takeaway from all of them: So far, there is no end in sight. While that can — and hopefully will — change any day now, the reality is that the longer the government remains partially closed for business, the longer 800,00

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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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Fiserv buying First Data in $22 billion deal to build fintech scale

Payments Source

Fiserv will acquire First Data in an all-stock deal with a value of about $22 billion that will combine two of the financial services industry's largest technology and processing companies. Fiserv shareholders will own almost 58 percent of the combined company, with First Data's shareholders holding the rest. The acquisition is expected to close in the second half of 2019.

Data 167

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Looking ahead: Setting expectations for banking and mobile payments in 2019

Payments Dive

The banking industry is facing multiple challenges in the face of stiff competition from fintech startups and disruptive applications that provide direct access to loans, credit and other critical services.

Mobile 382
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The CEO and Chair make digital banking work

Chris Skinner

I claim that most of the banks embracing true digital transformation and not just treating digital as a channel, are led by people who understand technology. They have a leadership team who are passionate about digitalisation, and see it as a core raison d’etre of the bank’s future. Not just … The post The CEO and Chair make digital banking work appeared first on Chris Skinner's blog.

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The 2019 fintech conferences not to miss

Bobsguide

Conferencing is a key part of the fintech industry and one of the only ways to stay up to date with the ever quickening pace of technological change in the sector. Bobsguide compiled and previewed the fintech events not to miss of 2018 and this year is no different. This list provides you.

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Cherry Home CEO: The Future Of Smart Homes And Independent Senior Living

PYMNTS

When talking about advances in home automation and artificial intelligence (AI)-guided systems for consumers, the conversation has a natural tendency to drift toward younger consumers, particularly millennials. That focus isn’t unwarranted, as there are 75 million millennials, and the older half of that generation (the group PYMNTS has termed Bridge Millennials ) is much more likely than the average consumer to own a smart device, and more likely to use it to make a purchase.

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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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5 security threats to watch in 2019

Payments Source

As consumers grow more attached to mobile devices for e-commerce and payments, fraudsters are intensifying their focus on handsets with new phishing, vishing to SIM-swap tricks.

Security 156
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Fiserv to buy First Data – the biggest fintech deal of 2019

Gonzobanker

Fiserv acquiring First Data Corporation is a huge deal in the fintech world. This deal impacts not just the payments space but the whole financial services ecosystem, and the implications will take a while to unpack. In the meantime, and with an expected closing later in the year, our initial reactions: Follow the money. Twenty-two billion dollars is a monster-size deal, but at 2X First Data’s annual revenue, the price is a way lower revenue multiple than the growth-oriented digital mashups lini

Data 140
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8 mobile payment trends that matter for 2019

Payments Dive

Eight major trends will help define the landscape of mobile payments in 2019, according to Mark Flamme of AlixPartners.

Trends 419
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The new FinTech bank

Chris Skinner

For years, I’ve been wondering why people in business operations couldn’t align their needs with the people delivering technology in the organisation. The CIO would sit outside the business, watching and responding to requests. The requests would get prioritisation and be delivered in sequence over time, sometimes a very long … The post The new FinTech bank appeared first on Chris Skinner's blog.

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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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The Artificial Intelligence Gap Between Megabanks, Community Banks And Credit Unions

Ron Shevelin

There is a growing gap in AI investment and utilization between large and small banks which will enable the larger ones to garner even more market share away from the smaller ones.

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2019: Big Payment, Commerce And Tech IPOs Loom On The Horizon

PYMNTS

Tech companies are taking more time to reach their initial public offerings, with the median gap between their early financing and their IPOs hitting 10.1 years in 2017, up from 6.9 years in 2013, according to a recent estimate. A robust supply of private capital reportedly is one of the main reasons for that, along with corporate cultures that are averse to public markets.

Payments 223
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Fintech partnerships necessary for legacy bank survival

Bobsguide

Partnerships with fintechs is necessary to create the “best of both worlds” approach - which customers will demand in 2019, according to Currencycloud’s CMO and head of product, Todd Latham. “Customers expect a broad range of services from their bank, and they trust them.

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Data: How older shoppers use fintech

Payments Source

Americans aged 50 and older represent a sizeable portion of the U.S. population – 115 million individuals in 2018. While these consumers may not be the first to use mobile P2P apps, they do represent a sizeable payment opportunity because of their economic purchasing power.

Data 137
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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.

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The growth of mobile POS and preventing fraud

Payments Dive

Mobile point-of-sale systems are a growing consideration for retailers, but carry a number of concerns about fraud and secure payment.

Fraud 391
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Ten Top Trends for 2019

Chris Skinner

Hello, hello and hello again. Welcome to 2019. A brand new, fresh, shiny year, and just out of the starting gate. Having said that, yes we are still talking Brexit and we still find a group of shady bankers knocking off billions. Same s**t, different day, as Stephen King would say. … The post Ten Top Trends for 2019 appeared first on Chris Skinner's blog.

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The Robinhood Checking Account Was Doomed To Fail

Ron Shevelin

The failed Robinhood checking/savings account was out of touch with how consumers manage their money these days. It would have failed if it had been launched.

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mPOS At 37,000 Feet

PYMNTS

With the global mobile point of sale (mPOS) market projected to experience a compound annual growth rate (CAGR) of 18.8 percent from 2017 to 2026, many solution providers are looking to use partnerships as a boost to snag a bigger share of the growing market. Around the mPOS space, providers are teaming up, merging or making acquisitions. In the January mPOS Tracker , PYMNTS charts the latest developments.

Software 220
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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

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Challenger banks vulnerable to AML-savvy criminals

Bobsguide

Digital-only challenger banks and new market entrants are vulnerable to savvy criminals looking to exploit weak anti-money laundering (AML) controls, according to John Davies, chairman on Kompli-Global and deputy chair of the Emerging Payments Association (EPA). Speaking at the launch of the.

Marketing 136
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GDPR to become a more global phenomenon in 2019

Payments Source

As perhaps the world's most wide-reaching, comprehensive data protection rule, the General Data Protection Regulation is having a ripple effect that almost seemed inevitable.

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Psychological barriers to greater mobile payment use in the US

Payments Dive

Consumers in the U.S. are still struggling to overcome psychological barriers to embracing mobile payments technology, according to research from two leading financial services experts.

Mobile 321
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Digital transformation needs a burning platform

Chris Skinner

Ever since I started working in business process re-engineering and transformation a while ago, before most millennials were born I should say, I learnt a lesson early on. Transformation will never work without a crisis point. You cannot make the whole company change if profits are good, objectives are being … The post Digital transformation needs a burning platform appeared first on Chris Skinner's blog.

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.