PYMNTS

MAY 5, 2019

The New York State Attorney General ( NYAG ) Letitia James wants to see documents regarding an alleged deal made between cryptocurrency exchange Bitfinex and stablecoin operator Tether that “misled their clients and investors.”. And Ripple has announced that Yoshitaka Kitao, Representative Director, President & CEO of SBI Holdings Inc.,

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Bitcoin blockchain Massachusetts New York 136

PYMNTS

MAY 17, 2019

It has created an operating system that helps create and upgrade software applications for financial institutions — much like the way consumer apps get updated on phones. As it stands, almost 200,000 desktops at over 1,500 banks as well as buy-side firms tap into the company’s operating system. Reuters reported.

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Software New York Risk Management System 134

PYMNTS

MAY 2, 2019

Royal Bank of Scotland is going after the payments market, launching a new unit Thursday (May 2) that will put it in competition with Worldpay , the former unit it was forced to unload. NatWest Tyl will make money charging fees to connect them to networks operated by Visa and Mastercard.

Payments 173

Payments Regulation Analytics National 173

PYMNTS

MAY 21, 2019

Allied Wallet was accused of processing payments for firms that were known by law enforcement agencies as fraudulent, such as Stark Law, a debt collection scheme; TelexFree, a pyramid scheme; and MOBE and Digital Altitude, business coaching schemes that told customers they would make a large amount of extra income.

Los Angeles 190

Los Angeles Payments California Fraud 190

PYMNTS

MAY 2, 2019

Their partnership will focus on promoting regulatory compliance and digitization of cross-border trade , with the NextGen solution providing analysis of trade transactions, natural language processing to assess unstructured data and customer activity and process automation that aligns bank resources and policies. ”

Analytics 134

Analytics Compliance Analysis Resources 134

Gonzobanker

MAY 31, 2019

Financial institutions that want to play in the small business lending sandbox need to bring their digital toys. article , former Small Business Administration administrator Karen Mills said community banks with strong small business customer bases that don’t find new ways to serve them digitally are going to face a “reckoning.”

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Lending Community Bank Community Data 141

PYMNTS

MAY 3, 2019

The latest edition of the PYMNTS Weekender also features fresh and original research on AP innovation and digital platforms. Drivers in jurisdictions where Uber runs its own operations are eligible for the bonus, the ride-hailing company said in the filing. Post-Merger, NXGEN and Payscape Eye SMBs’ Digital Shifts. Top Stories.

blockchain 108

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PYMNTS

MAY 6, 2019

Our team has torn apart the small business banking playbook and created our own digital banking platform and operating model from the ground up.”. The company offers application programming interface (API)-powered banking that was created to automate back-office financial work.

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PYMNTS

MAY 13, 2019

Switzerland-based Temenos AG has announced that Judo Bank , an Australian SME challenger bank, has gone live with the help of Temenos T24 Transact, Analytics, Financial Crime Mitigation and Channels. Last year, Judo Bank achieved the second largest pre-revenue fundraising round in Australian startup history, raising $140 million (AUD).

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Software US Analytics Compliance 123

PYMNTS

MAY 13, 2019

So, it is in banking with fraudsters and their victims, where attacks leverage weak points inherent in existing technologies and processes. The access lets the bad guys steal identities and drain bank accounts. And why would you want your banking built on that inherently insecure system?” Eliminating Entry Points.

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ATM Mobile Security Online 134

PYMNTS

MAY 3, 2019

Ritesh Pai, chief digital officer for India’s YES Bank , pointed out that India’s heavy reliance on cash in the past meant that workers had to send their wages back home via the postal service or a cash courier — a process that could take days, leaving workers worrying about their funds’ whereabouts. . The speed is immense.” .

Payments 195

Payments System Security ATM 195

PYMNTS

MAY 2, 2019

bank NatWest is starting a merchant acquiring service for small to medium-sized businesses (SMBs), according to reports. In other NatWest news , the bank recently announced a biometric payment technology for its commercial and business customers.

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System Online Technology Payments 130

PYMNTS

MAY 13, 2019

Perhaps the biggest story in P2P, though, is the ongoing battle between P2P providers Zelle (operated by Early Warning Services ) and Venmo (owned by PayPal ). The Zelle network is used by an upwards of 5,391 financial institutions (FIs), either through a mobile banking app or by registering a debit card with Zelle’s app.

Payments 198

Payments Apple Cards Course 198

Accenture

MAY 30, 2019

In the US, nearly 135 million daily commuters spend more than $210 billion a year on gas, food, coffee and grocery pickup according to the Digital Drive Report by PYMTS and Visa 1. Mastercard has also made several strategic partnerships with Honda, GM, IBM and US Bank to build in-car payments experiences. 135 MM Total Drivers.

Payments 150

Payments Innovation US Strategy 150

PYMNTS

MAY 3, 2019

It seems that’s the journey for cross-border payments, which are in the midst of a digital disruption as innovators focus on addressing a range of friction points, from sluggish speeds to high costs. Only a few years ago, small businesses lagged in global payments technology uptake.

Payments 151

Payments Fintech Customer Experience Technology 151

PYMNTS

MAY 6, 2019

paid using those archaic payment choices, the move to digital payments is a shared effort amid companies, processors, billers and, of course, consumers. Banks and credit unions can access the platform through application program interfaces (APIs). Inefficient, but stubbornly entrenched, paper and cash dominate bill payments.

Online 143

Online Payments Tools Strategy 143

PYMNTS

MAY 24, 2019

That’s the name of digital payments system that Facebook plans to deploy in “about a dozen counties by the first quarter of 2020,” according to a report Friday (May 24) from the BBC. The report said Facebook “is expected to outline plans in more detail this summer, and has already spoken to Bank of England governor Mark Carney.”.

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social media Payments cryptocurrency Conference 134

PYMNTS

MAY 29, 2019

In Hong Kong, Chinese bank Shanghai Commercial Bank (SCB) is working with the EMQ to support cross-border money transfers, according to reports. The news comes as the bank created the Shacom Pay mobile app for low-value instant transactions. Welcome to The Axis, your late look at payments news from around the world.

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Puerto Rico Payments Report Mobile 124

PYMNTS

MAY 13, 2019

Motion Pay President and Chief Operating Officer Eric Paquet said, according to the report, “We believe this partnership will definitely benefit both parties by reaching more Canadian merchants and ultimately facilitate the shopping and payment experience for Chinese consumers.”. percent of the population in comparison to Thailand’s 9.8

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Comparison Technology Cards Mobile 108

PYMNTS

MAY 10, 2019

Mastercard: Transactis Buy Speeds Bill Pay’s Digitization. paid using those archaic payment choices, the move to digital payments is a shared effort amid companies, processors, billers and, of course, consumers. Earthport operates one of the biggest independent ACH networks in the world. Debt Collection, Done Digitally?

Payments 151

Payments Texas Retail Innovation 151

PYMNTS

MAY 31, 2019

percent even as digital sales were up double-digit percentages. Pier 1 Imports has said it is closing 45 stores and could close 15 percent of its entire base if it does not meet operating targets. Erica: That’s a lot of digital assistance. Kohl’s, for example, said same-store sales were down 3.4

Cards 122

Cards Retail Course America 122

PYMNTS

MAY 29, 2019

Reports in Reuters on Tuesday (May 28) said UBS expects its regulatory costs to remain high in the years ahead after a decade of more stringent regulations leading to heavier, more costly burdens on banks. “That has tied up enormous resources.” “Why is this so significant? “Why is this so significant?”

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Regulation Compliance Capital Resources 108

Insights on Business

MAY 3, 2019

It enables clients to quickly add value, stability and compliance to their operations and deliver secure real-time payments while significantly reducing costs. This platform was launched specifically to address the hard realities of payments modernization, and to turn them into opportunities.

Payments 87

Payments Fraud Security Innovation 87

PYMNTS

MAY 1, 2019

Theoretically speaking, a marketplace helps smooth price discovery, bringing buyers and sellers together to transact through virtual or digital conduits. To recap, the AG accused Tether (of the Tether stablecoin) and the Bitfinex operator of possibly defrauding crypto investors.

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Bitcoin Fraud New York cryptocurrency 139

The Financial Brand

MAY 20, 2019

Community banks and credit unions need to respond to digital opportunities by changing operational structure and internal culture. The post How Community Banks Can Compete In The Digital Age appeared first on The Financial Brand.

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Community Bank Community Branding Operations 33

PYMNTS

MAY 29, 2019

Not only that, but “it offers an Apple Store-like atmosphere, with sleek modern decor, digital projections and motion-sensor displays, and friendly associates toting iPads.”. Women have become involved in all facets of the legal cannabis operations across the United States and Canada.

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Retail Las Vegas Leadership Industry 186

PYMNTS

MAY 2, 2019

Additionally, an account-to-account transaction can become seriously derailed by an error like an incorrect bank account number. Now, four years later, the average bank charges an 11 percent fee. Xago , a South African money transfer operator, is among the latest companies to take up that strategy.

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Payments Security Data System 100

Tech and Finance

MAY 7, 2019

The Arab Tunisian Bank (ATB) has selected Temenos, the Geneva-based banking software company for its digital transformation program. ATB will transform its bank with Temenos Infinity, the breakthrough digital front office product, and Temenos T24 Transact, the next generation core banking software.

Software 31

Software Digital Banking US Regional 31

FICO

MAY 13, 2019

In the first of my three-part blog series on reinventing the origination process I discussed how digital transformation has reshaped consumers expectation from the companies they do business with – which means that leading financial institutions must transform their customer experience as well if they wish to remain competitive.

Customer Experience 40

Customer Experience Examples Data Analytics 40

Accenture

MAY 14, 2019

In the first of a four-part series, our team of guest bloggers will share how getting to simplified, future-ready bank operations may be more easily imagined. . However, banks are unable to support this if they do not modernize their operations. This requires a digital-centric strategy. Read the report.

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Tech and Finance

MAY 28, 2019

North America has a newcomer in core banking — Technisys, originally from Argentina. It is implementing a digital first system at Alberta’s ATB in a new subsidiary bank called Brightside, and it recently raised a $50 million Series C investment round from Riverwood, a Silicon Valley fund. Incorporation Ltd (TNI) of Thailand.

America 28

America Digital Banking Miami System 28

FICO

MAY 30, 2019

I think a slight derivation of this same sentiment is highly relevant for banks today: “Your data scientists are so preoccupied with whether or not they can predict something, they don’t stop to consider what will happen if they are successful.”. The post Analytics in Banking: Start with the End in Mind appeared first on FICO.

Analytics 49

Analytics Tools Strategy Compliance 49

Bank Innovation

MAY 14, 2019

Britain may be getting a glimpse of what could spark the next run on a bank. It was only a matter of time before confidence in the financial system would be tested by false information on social media. A dozen years after client withdrawals brought Northern Rock to its knees, photos of customers — admittedly […].

social media 186

social media System Metro Operations 186

PYMNTS

MAY 6, 2019

As Nanu told it, the ongoing spread of faster payments can serve to not only build a stronger commerce and payments ecosystem for Asia and elsewhere, but make credit cards less important to the further growth of the world’s digital economy. InstaReM was then founded as a four-person operation in a single Singapore office. Credit Cards.

Cards 202

Cards Payments Regional Operations 202

Gonzobanker

MAY 21, 2019

As a thought experiment, imagine if one evening Amazon CEO Jeff Bezos had one too many cocktails and errantly gave an order to purchase your bank. The framework to assess the acquired bank is based upon Bezos’ famous 2016 shareholder letter that outlines Amazon’s core business philosophy. To: Jeff Bezos – CEO.

Customer Experience 112

Customer Experience Analytics Management Operations 112

PYMNTS

MAY 22, 2019

In banking, the customer journey, of course, begins with the first steps involved in setting up a relationship — offering up names, addresses, Social Security numbers (SSNs) and a wealth of other data to set up accounts. The old adage is that a journey of 1,000 miles begins with a first step.

Mobile 168

Mobile Fraud Online Strategy 168

PYMNTS

MAY 1, 2019

For now, the operation will continue under both company names, though that could change with time. Bloomston told PYMNTS that both companies, pre-merger, were experiencing “double-digit” growth — a trend that continues in 2019. He said the companies already work with some 40 community banks in the U.S.,

Florida 205

Florida Payments Capital Community Bank 205