Chris Skinner
JULY 22, 2016
WARNING WARNING WARNING This is a semi-technical blog update and it is rather long (20 minutes read). If you don’t like dealing with bits and bytes, you may want to turn away now. I’ve been meaning to also write a blog update on all things about blockchain for a while, but just haven’t had time. … The post Blockchain is like the internet before the browser appeared first on Chris Skinner's blog.
Payments Dive
JULY 22, 2016
MasterCard's decision to enable banks to add an in-store payments element to their mobile banking app for NFC-ready Android smartphones has rekindled an industry debate about what works best for financial institutions and proximity mobile payments.
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Bank Innovation
JULY 19, 2016
Another bank is live with a digital wallet. Wells Fargo & Co. joins JPMorgan Chase and Capital One in launching a bank-branded mobile payment platform, or digital wallet. These instruments for making transactions via mobile phone are meant to compete with PayPal, which has been abuzz lately with rumors of a possible Read More.
Abrigo
JULY 19, 2016
With the recent release of the Financial Accounting Standards Board’s (FASB) guidance on the Current Expected Credit Loss (CECL) model , Sageworks ' Summit is uniquely positioned to provide the latest information on how institutions can prepare for the changes and what the impact may be once effective. The 2016 Risk Management Summit features experts from the American Bankers Association, CliftonLarsonAllen, Crowe Horwath, Grant Thornton, KPMG, and Promontory Financial Group, among others.
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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
Chris Skinner
JULY 20, 2016
I was having a debate yesterday where a bank executive was asking me about what the hottest things in FinTech are right now. My answer was machine learning (AI) and blockchain. There are others such as contextual commerce, voice recognition and digital assistants, but machine learning and blockchain are top of mind. His response was … The post Machines that learn will decimate human jobs … or will they?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JULY 22, 2016
PayPal‘s partnership with Visa is only the beginning, according to CEO Dan Schulman. The payments industry was awash in rumors of a PayPal-Visa partnership this week, and yesterday, when both companies reporting their Q2 earnings, the rumor was shown to be true. Exact terms of the deal were not disclosed. Read More.
Abrigo
JULY 18, 2016
By Carl Streck, Co-founder and CEO, Mountainseed In a perfect world, an appraisal would land on your desk free of error. However, as we know, the world isn’t perfect, and as such, neither are appraisals. With the average appraiser completing between 220 and 240 appraisals per year, it’s only natural that mistakes happen. While finding mistakes can be tedious, including a mindful checklist in your appraisal process can help you be aware of some of the common mistakes you should be on the lookout
Chris Skinner
JULY 18, 2016
Unless you’ve been hiding under a rock, you may have noticed the rise of Pokémon Go. It’s been in the news everywhere, mainly because kids seem to be gathering in places they shouldn’t. Equally, the game has been responsible for everything from finding dead bodies to resurrecting other ones. Mayhem as rare Pokémon appears in … The post Sberbank is one of the first to Pikachu appeared first on Chris Skinner's blog.
Payments Dive
JULY 19, 2016
Jack Jania, senior vice president of strategic alliances for Gemalto, tries to clear the air about all the different acronyms in mobile payments.
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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
JULY 21, 2016
The first video banking call crossing the Atlantic took place this week. A new virtual assistant (TouchAssist) and a new personal finance chatbot (Trim) both launched yesterday. Facebook Messenger recently reached 1 billion users — and 18,000 bots. There are more ways for customers to talk to banks than ever Read More.
PYMNTS
JULY 21, 2016
Visa and PayPal today (July 21) announced a strategic partnership that will combine the power of the largest payments network in the world with the largest digital payments network in the world to give consumers more choice about how they pay when using their PayPal accounts. According to a release that was issued by PayPal announcing the deal, “the partnership puts PayPal and Visa on a new path with the companies working more collaboratively to accelerate the adoption of safe, reliable and conv
Bobsguide
JULY 17, 2016
As the culture over the last decade has switched to the ubiquitous smartphone, customer expectations have transformed regarding payment systems. From this instant transaction culture has emerged new Payment Service Providers (PSPs) delivering real-time, instant payments. Banks and Payment.
Payments Dive
JULY 21, 2016
Robert McHugh, the co-founder of Paydunk, examines how Apple's recent announcement further fragments the industry.
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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.
Bank Innovation
JULY 20, 2016
TouchCommerce, which serves many Fortune 500 companies with customer engagement tools such as livechat and FAQs, launched a virtual assistant today called TouchAssist. By the end of the third quarter, TouchAssist will be live at a Top 3 bank, CMO George Skaff told Bank Innovation. With its other tools, TouchCommerce already serves Read More.
PYMNTS
JULY 18, 2016
ATB Financial just completed the sending of a payment from its home base of Canada to a bank in Germany in 20 seconds via blockchain. Admittedly, most consumers, says SAP Senior Principal of Financial Services Kris Hansen, would simply shrug at this accomplishment. But, he said, they’re missing the point. The bank first announced the payment last week, an effort completed with the collaboration between ATB Financial, SAP and blockchain fintech company Ripple.
Payments Source
JULY 17, 2016
Earlier this year, the Federal Deposit Insurance Corp. (FDIC) narrowly avoided disaster when sensitive information for 44,000 agency customers was stored without proper security measures…on a personal storage device.
CFPB Monitor
JULY 18, 2016
Barbara S. Mishkin. The CFPB has announced that it will hold a field hearing about debt collection on July 28, 2016 in Sacramento, California. We expect the field hearing to coincide with the CFPB’s release of an outline of the proposals it is considering in preparation for convening a small business review panel required by the Small Business Regulatory Enforcement Fairness Act (SBREFA) and Dodd-Frank.
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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
JULY 21, 2016
When Visa CEO Charlie Scharf said his company would “go after PayPal in ways that people have never seen before,” he apparently meant he was pursuing a partnership. That deal was announced today, and means Visa will get access to PayPal payment processing and Venmo, and essentially become the preferred payment type Read More.
PYMNTS
JULY 20, 2016
Ransomware may have started with consumers, but attacks against businesses and large organizations are on the rise, according to Symantec ’s Ransomware and Businesses 2016 report. The security software company said that, while individuals accounted for 57 percent of the recorded ransomware attacks in 2015, attacks on companies and larger organizations increased at the end of the year.
Bobsguide
JULY 17, 2016
When Samsung announced recently that it was investing $1.5 billion over the next four years in the research and development of IoT technologies, it wasn’t so much the scale of the investment that was surprising but rather the language that Vice Chairman & CEO Dr. Oh-Hyun Kwon used to.
CFPB Monitor
JULY 21, 2016
Barbara S. Mishkin. Today, July 21, 2016, marks the fifth anniversary of the date on which the CFPB officially opened its doors for business. Since then, the CFPB has embarked on unprecedented initiatives that have dramatically changed the face of the consumer financial services industry. Despite the continuing legislative and judicial challenges to its structure, we expect no slowdown in the CFPB’s aggressive pursuit of its agenda.
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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.
Bank Innovation
JULY 20, 2016
Image Credit: TaxRebate.org.uk There’s one sector of finance that really doesn’t get a lot of airtime when it comes to fintech – deposits. Checking accounts, savings accounts, transaction accounts – while they’re the bread and butter of banking, they’ve been relatively untouched since they were first invented. You put money Read More.
PYMNTS
JULY 18, 2016
If you’re like most people, at some point over the weekend, you probably watched something on Netflix. Eighty-one million people consume more than 100 million hours of programming every day via this wildly popular app. I am one of those 81 million people who, this month, is hooked on the drama of the Rayburn family in “ Bloodline.” That Danny Rayburn is one bad dude.
Bobsguide
JULY 21, 2016
Whether we're keen runners tracking our time, commuters checking our route home, or selfie fans, endlessly checking into our latest destination, as a society we share information about our whereabouts and lifestyle choices on a daily basis. And that's just the data about ourselves we choose.
Payments Source
JULY 20, 2016
The industry-led EMV Migration Forum is changing its name and expanding its focus to accommodate the myriad changes that are happening alongside the move to chip cards.
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.
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