Payments Dive
NOVEMBER 22, 2019
The rise of digital payments has led to a series of complex issues surrounding how to make those transactions more secure. Rapid innovation in the global payments space has created new opportunties for bad actors to expoit these new ecosystems and requires ways of thinking on how to approach the subject.
Chris Skinner
NOVEMBER 18, 2019
In the last month, there’s been a wave of announcements from Facebook, Apple, Google and Amazon about banking. We’ve seen Facebook’s major activities in trying to create a digital currency called Libra, and Apple’s move into finance with a credit card from Goldman Sachs which, in just a month, offered … The post Google, Facebook, Amazon and Co are NOT offering banking, so stop saying they are appeared first on Chris Skinner's blog.
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Bank Innovation
NOVEMBER 22, 2019
Stock trading app Invstr is rolling out a series of educational tools to make investing accessible to a wider audience. The mobile-based training program is called Invstr Academy, which launched last week. It’s a move by the company to expand beyond its learning-by-doing model where users can invest with fake cash, and it beefs up […].
PYMNTS
NOVEMBER 21, 2019
Membership in the U.S. Faster Payments Council (FPC) is growing with the addition of ACI Worldwide, as the electronic payments and banking solution provider announced this week. The company is joining the FPC to support U.S. initiatives of innovating in faster payments capabilities and promoting adoption of real-time payments. ACI Worldwide noted it already has a strong foothold in the real-time payments space, with integrations with 18 real-time domestic payment networks around the globe.
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.
Payments Dive
NOVEMBER 19, 2019
With technology, one plus one is often greater than two. AI and video technologies complement one another perfectly, and combining them can deliver tremendous value to any financial institution.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 22, 2019
As cash back rewards become expected offerings among banks and financial platform companies, Stash is offering customers fractional shares of stocks as purchase rewards when they use the Stash debit card. The subscription-based investing, banking and financial planning platform company this week confirmed that it’s offered 5 million stock-back rewards since the program’s inception five […].
PYMNTS
NOVEMBER 21, 2019
MoneyGram has announced that it’s continuing its worldwide digital expansion with greater options for its overseas customers, especially in the Asia Pacific area and New Zealand. The MoneyGram website and MoneyGram Plus Rewards program is now available to the company’s Hong Kong customers, and users in New Zealand are now able to use the MoneyGram app to send money to friends and family. .
Payments Dive
NOVEMBER 22, 2019
The speed & adaptability of Agile development is no longer a competitive advantage. Per the 12th Annual State of Agile Report, 97% of companies practice Agile on some level. In spite of this positive trend, running an effective Agile development process remains very rare.
Chris Skinner
NOVEMBER 17, 2019
I just saw an interesting report produced and released by SIX Group that talks about the future of money. SIX Group run payments and settlement processing out of Switzerland and, unsurprisingly, their view is that the most likely future is that there will be digital everything but still some cash … The post The future of money according to the Swiss (shhh, it’s not bitcoin) appeared first on Chris Skinner's blog.
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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
NOVEMBER 18, 2019
The bank of the future will cease to be about specific products and services. Instead, it will offer embedded “experiences” based on data the institution has on its customers, according to a report released by HSBC this month. Entitled “Banking of the Future: Finance in the Digital Age,” the study was developed for HSBC by […].
Abrigo
NOVEMBER 22, 2019
Key Takeaways Credit analysts who are proficient in routine skills but also possess certain soft skills are most beneficial to a bank or credit union. Curiosity to dig behind the numbers and perspective are two traits of a strong credit analyst. A strong credit analyst is introspective and has emotional intelligence. Soft skills are important for credit analysts.
Payments Dive
NOVEMBER 19, 2019
As consumers shift to online banking, the ATM also has been impacted by the quest to go digital. Kamesh Tumsi, VP of product strategy at Fiserv card services, gives us the scoop on the digitizing of ATM transactions.
Chris Skinner
NOVEMBER 20, 2019
I was running a fun panel on regulation this week. That kind of sounds like a lie – whatever can be fun about regulation – but hey, it was. I often reflect on the fact that regulators run with their eyes in the rear-view mirror. They can’t see what’s ahead … The post Regulators: damned if they do and damned if they don’t appeared first on Chris Skinner's blog.
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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
Bank Innovation
NOVEMBER 22, 2019
This week, data aggregator Plaid confirmed its expansion to France, Ireland and Spain. Plaid will work with more than 80% of the consumer accounts in each country, a major step for the San Francisco-based company with the likes of BNP Paribas, Bank of Ireland, BBVA and Santander onboarding the technology. Keith Grose, head of Plaid’s […].
Abrigo
NOVEMBER 21, 2019
Key Takeaways FATF best practices identify the most common challenges that countries face in ensuring that the beneficial owner(s) is identified. FATF suggests using a multi-pronged approach to ensure beneficial ownership is obtained. The US is at a disadvantage without a national beneficial ownership registry. . The importance of CDD and EDD around beneficial ownership.
Payments Dive
NOVEMBER 19, 2019
While much has been written about brick-and-mortar retailers’ continuing fight for market share with online competitors, data on continually evolving consumer preferences also demonstrates a desire by many to combine both shopping experiences. Enter: click and collect.
Chris Skinner
NOVEMBER 21, 2019
Things we’re reading today include … Australia’s Westpac hit by Goldman downgrade over money-laundering scandal What is Westpac accused of, and how is this related to child exploitation? – explainer Investors pour near $400m into African fintech What next for Europe’s banking union? Charles Schwab in advanced talks to buy … The post Things worth reading: 22nd November 2019 appeared first on Chris Skinner's blog.
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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.
Bank Innovation
NOVEMBER 22, 2019
Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, November 22, 2019. In this episode, Suman Bhattacharyya, deputy editor, and Angely Mercado, associate editor, discuss the following news developments: The expansion of The Clearing House’s RTP Network; How Facebook Pay can advance its e-commerce strategy; and How Green […].
Abrigo
NOVEMBER 21, 2019
Key Takeaways Now is a good time to plan 2020 BSA/AML training and efforts to educate clients and colleagues about BSA and fraud red flags. It's also a good time to enhance your institution's BSA/AML risk assessment. Sustainability of your institution's BSA program deserves particular focus in 2020. As another busy year draws closer to an end it is time to reflect on the challenges and successes of the year.
Payments Dive
NOVEMBER 21, 2019
PayPal agreed to buy the online shopping and rewards platform in a bid to extend its services to help drive more personalized traffic towards its thousands of retail partners. Honey has helped consumers save more than $1 billion through targeted discounts and incentives.
Chris Skinner
NOVEMBER 19, 2019
Things we’re reading today include … Could Metro Bank go bust? Terabytes of data leaked from an oligarch-friendly offshore bank PayPal’s former finance chief says Bank of America closed his account with ‘absolutely no explanation’ Australia’s Westpac accused of 23 million money laundering breaches Lloyd’s of London takes to City … The post Things worth reading: 20th November 2019 appeared first on Chris Skinner's blog.
Advertiser: Data Robot
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.
Bank Innovation
NOVEMBER 21, 2019
Fundera, a New York-based small business lending marketplace, is partnering with UPS to offer loans to UPS clients. The tie-up, announced this week, puts Fundera’s lending platform on UPS’ warehouse logistics platform Ware2Go, letting businesses access loans while they’re building supply chain solutions. “As you’re using the Ware2Go solution, it will enable you to grow […].
PYMNTS
NOVEMBER 21, 2019
Internet scammers, by nature, are a resourceful lot. They poke and prod, looking for various weaknesses to be exploited on online platforms, in company emails (as in Business Email Compromise, or BEC), through text messages and even the old-fashioned phone call that induces a victim to hurry online and send some money. The scams? Well, they can be done from anywhere, affording the fraudster the luxury of plying his or her trade on the go, at all hours — and even, it seems, from prison.
Payments Dive
NOVEMBER 22, 2019
There is a lot to gain from AI, but it’s incredibly difficult to achieve AI maturity. It requires immense amounts of data and continual training of the algorithm. While you can manage this on your own, there are many issues that commonly arise during the process.
Chris Skinner
NOVEMBER 16, 2019
The main blog headlines are … Can you recognise a fraudster when you meet one? I’ve pointed out many times that it’s easy to scam people online and defraud them. I even once got a phone call from an elderly gentleman asking me if he had really won £1 million … The post The Finanser’s Week: 11th November – 17th November 2019 appeared first on Chris Skinner's blog.
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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.
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