Thu.Oct 25, 2018

article thumbnail

Banks seek to adapt to mobile-first customers

Payments Dive

In the past several years, it's become commonplace at industry conferences for executives to point to a handful of retail mobile experiences financial institutions should try to emulate to some extent. How should banks adapt to these kinds of expectations?

Mobile 321
article thumbnail

Capital One Hopes to Score Big with Walmart Partnership

Bank Innovation

Walmart seems to be popular among financial services players these days. First PayPal and now Capital One have noted the significance of their partnerships with the retailer in recent earnings calls. Just yesterday, in Capital One’s 3Q18 earnings call, Richard Fairbank, CEO and chairman, mentioned that Capital One will be the exclusive issuer of Walmart […].

Capital 186
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Google Search Executive Manber Jumping Ship For Anthem Health

PYMNTS

Anthem, the health insurance company, has landed Udi Manber, the Google executive who ran engineering for its core search products, as its new head of artificial intelligence. CNBC, citing people familiar with the matter, reported Manber will be in charge of overseeing the artificial intelligence group at the insurance company and is expected to boost up his team.

Google 186
article thumbnail

Zelle Outpacing Venmo in P2P Money Transfers

Bank Innovation

Two peer-to-peer payments platforms competing for market share and consumer loyalty posted big gains in their 3Q18 earnings reports. While the third quarter was kind to both Zelle and Venmo, it’s certainly Zelle, which moved nearly double the amount of money moved by Venmo this past quarter, that’s winning the race. Zelle, operated by Early Warning […].

article thumbnail

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

article thumbnail

Lyft, Uber, Amazon Top Employee Expense List

PYMNTS

Lyft cracked the Top 10 of most frequently expensed U.S. business costs for the first time, reaching number six. According to data from Certify, the most used vendor in Q3 of this year was Uber , which held 11 percent of all transactions. Coming in second was Starbucks with 4.08 percent of receipts and expenses, while Amazon is in third place with 4.05 percent — marking the first time Amazon has appeared in the top three.

Data 169

More Trending

article thumbnail

PayActiv And Walmart Team Up To Provide Workers With Access To Wages

PYMNTS

PayActiv, the provider of employment-based holistic financial wellness services, announced Thursday (October 25) a deal with Walmart in which PayActiv employees can access earned cash wages. In a press release , PayActiv said with the deal workers across the country will be able to access their wages any time their local Walmart Money Center and/or Walmart Service desk is open.

Company 161
article thumbnail

10 tech apps taking over banking and payments

Payments Source

Despite the fervor over mobile wallets and banking, one day consumers may never need to open a dedicated bank or payment app.

Payments 127
article thumbnail

Bitcoin Daily: Sony Launches Digital Asset Wallet; UK Shelves Digital Gold Plan

PYMNTS

The Royal Mint in the U.K. has put plans for a digital gold token called Royal Mint Gold (RMG) on hold, Reuters reported. That news comes after a planned relationship with CME fell through and the U.K. government nixed the idea of having the coins trade on a digital currency exchange. The Mint said, according to Reuters, “Sadly, due to market conditions, this did not prove possible at this time, but we will revisit this if and when market conditions are right.”.

Bitcoin 159
article thumbnail

AI’s positive impact on data management is to be welcomed, not feared

Payments Source

RPA changes the game, enabling the automated transfer of data between different systems, and bringing significant levels of improved efficiency to the organization, writes Christine Parker, vice president and financial services industry market lead for Pegasystems.

Data 101
article thumbnail

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

article thumbnail

Shopping App Spring Acquired By Compass, ShopRunner

PYMNTS

Shopping app Spring has been acquired by two companies: real estate startup Compass and Alibaba-backed shopping app Shoprunner. According to TechCrunch , Compass is taking an undisclosed element of the business, as well as key staff including Spring CTO Satwik Seshasai, Director of Engineering Jim Grandpre, and around 20 additional employees from the engineering team.

article thumbnail

Cyrpto requires a more transparent blockchain to fight laundering

Payments Source

Building a blockchain solution that adds greater transparency in transactions has the potential to make KYC and KYT processes for crypto transactions much more efficient than the system in place, writes Ash Shilk, president of Ivy.

article thumbnail

Google Brings Lens To Google Images

PYMNTS

Google announced Thursday (October 25) that it is making Google Images more useful by bringing Lens, its image-recognition mobile app, to Google Images. In a blog post , Assaf Broitman, product manager of Google Images, said that starting Thursday (October 25) when a user sees something in an image and wants to know more they can use Lens to get more information about the image.

Google 139
article thumbnail

Visa positions itself at the center of a contactless renaissance

Payments Source

In the U.S., most banks and retailers seemed to have given up on contactless cards with the 2011 demise of the much-publicized Chase Blink brand. But the payment format is making a strong comeback in 2018.

article thumbnail

Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

article thumbnail

Grubhub’s Q3 Growth Will Fuel Investment and Expansion

PYMNTS

Grubhub , fueled by a 67 percent year-over-year increase in active diners in the third quarter and its recent partnership and acquisition deals, says it will boost is marketing and delivery spend this year. The online food delivery service on Thursday (October 25) released its Q3 financials , and said that it had 16.4 million diners during that period.

article thumbnail

This week’s podcast: Telephone Consumer Protection Act Developments

CFPB Monitor

Compliance with the Telephone Consumer Protection Act continues to present challenges to the financial services industry as a result of uncertain legal standards and contradictory court decisions. In this week’s podcast, we discuss the key recent court decisions dealing with the TCPA’s autodialer definition and what the FCC is doing to provide further guidance to industry.

article thumbnail

Facebook Hit With Fine From UK’s Information Commission Over Data Handling

PYMNTS

Facebook got hit with a $644,600 fine in the U.K. after the Information Commissioner’s Office ( ICO ) ruled that the social media network operator was engaged in “serious breaches of data protection.” CNBC , citing the ICO, reported that the government watchdog alleged Thursday (Oct. 25) that the personal information of one million or more U.K. users has been harvested by Facebook and thus put at risk.

article thumbnail

10.25.18 Your morning briefing

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: Big financial brands suffer web spoofs; Circle and Coinbase collaborate; NAB, Microsoft build facial-recognition ATM; Clover launches in Canada.

ATM 75
article thumbnail

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.

article thumbnail

Apple Gearing Up To Open Second Southeast Asia Store In Thailand

PYMNTS

Apple is expanding its presence in Southeast Asia, choosing Thailand as the home for its second Apple Store in Southeast Asia. A tech media outlet , citing comments Apple made on its local Thailand website, reported that the store will be part of the upcoming Iconsiam mall, which will be the largest in Bangkok. The Apple Store in Thailand is slated to open on Nov. 10, as a spokesperson for the Cupertino, California iPhone maker confirmed to the media outlet.

Apple 129
article thumbnail

Visa’s incentive spending, international business boost profit

Payments Source

The card brand company spent less on client incentives than analysts expected during its fiscal fourth quarter, showing the world’s largest payment network is resisting pressure to ramp up efforts to get banks and retailers to route more spending its way.

article thumbnail

Five At Five: Facebook Makes Its Augmented Reality Move

PYMNTS

Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes a big Facebook tech move, and a pending rules change for big banks in the U.S. Walmart and Amazon expand their retail and fulfillment options, and there is a new credit score feature for small businesses. Facebook Developing AR Glasses. Releasing AR headsets would put the social media giant in direct competition with AR startups like Magic Leap and Thalmic Labs — to say nothing of Microsoft

article thumbnail

How to Deploy an Omnichannel Payment Strategy

SWBC's LenderHub

Being in the payment industry for well over two decades, now, more than ever, we are seeing consumer experience and the demand for self-service solutions causing significant growth in online and mobile payments. Particularly, in the last year, we’ve seen self-service channels are growing at about three times the rate of “agent-led” calls.

article thumbnail

Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

article thumbnail

Moody’s Sees Improving Charge-off Climate

PYMNTS

Moody’s said in its latest reading of the “pulse of the consumer” that in viewing the charge-off rate, growth had slowed among the largest U.S. banks to 10 basis points in the third quarter. That was better than the 18-basis-point increase seen year over year in the second quarter, according to the report, which debuted this week. Drilling down a bit, according to the analysis by Warren Kornfeld of Moody’s , in terms of auto loan charge-offs, the rate declined by 27 basis points to 1.01 percent,

Analysis 128
article thumbnail

Guest Post: Financial Markets and Economic Update by Dorothy Jaworski

Jeff For Banks

Economy The economy is on a roll! Economic growth picked up strongly in the second quarter, with a reading of +4.2%, as momentum from the tax cuts and deregulation pushed spending and investment higher. Third quarter growth is also expected to be around +4.0%. Business and consumer optimism have been high. Indeed, equity investors have been optimistic, too, sending stock prices higher this year, although these gains have not come without some extreme volatility earlier in October.

article thumbnail

Snap Plans Product Tweaks As Q3 Disappoints Investors

PYMNTS

More product improvements — and quick ones at that — seem to be in the mix for Snap as its daily active user base and its Q3 loss disappointed investors late Thursday (October 25), despite a 5 percent increase in average revenue per consumer. Snap, the developer of Snapchat, said it had 186 million daily active users in the third quarter of 2018 , which represents a 5 percent year-over-year increase.

article thumbnail

NCR's JetPay deal shows how fintechs edged out ISOs, resellers

Payments Source

NCR has turned to the acquisition market to shore up its defenses against fintech challengers, a further signal that longtime retail industry staples such as payment hardware and ISOs are going by the wayside as dedicated business models.

Fintech 68
article thumbnail

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.