Chris Skinner
MAY 28, 2019
I feel sorry for Deutsche Bank. I’ve worked with the bank and they have some great people. It used to be that their investment banking services were one of the best in Europe, alongside UBS and Barclays Bank. That was before September 2008. Since then, it’s been like an old … The post The world’s most destructive bank? appeared first on Chris Skinner's blog.
Payments Dive
MAY 28, 2019
Global Payments is buying TSYS in a merger valued at $21.5 billion, marking the latest in a series of international mergers and acquisitions of payments and POS technology companies.
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Chris Skinner
MAY 28, 2019
Things we’re reading today include … The Race for 650 Million Virtual Bank Accounts Does Greed Drive Deutsche Bank And Other Banks Not To File Suspicious Activity Reports? 885 Million Records Exposed Online: Bank Transactions, Social Security Numbers, and More HSBC plans retail wealth headcount boost; eyes Singapore expansion Global … The post Things worth reading: 29th May 2019 appeared first on Chris Skinner's blog.
Payments Dive
MAY 28, 2019
Over the next year, organizations will be focused on: 1) accelerating their digital business; 2) improving insights through data; and 3) addressing rising customer expectations — all while reducing costs and growing revenue.
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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
MAY 28, 2019
In Barry Libenson’s four years as Global Chief Information Officer at Experian, the credit bureau has undertaken a modernization effort with a price tag in the hundreds of millions of dollars. And, according to Libenson, that investment is paying off. Silos are breaking down, operations are centralizing and the company is shifting to common platforms […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
MAY 28, 2019
The consolidation wave among payments companies got a major boost today with Global Payments’ acquisition of Total Payments Systems (TSYS) for $21.5 billion in stock. It’s the third major payments M&A deal this year, following FIS’ acquisition of Worldpay for $35 billion in March and Fiserv‘s move to buy First Data in January for $22 […].
PYMNTS
MAY 28, 2019
Citigroup was reportedly in advanced talks with Apple to partner on its new credit card but decided not to move forward, according to CNBC. Citing people with knowledge of the talks, CNBC reported that Citigroup bailed over concerns that it wouldn’t earn enough of a profit from the partnership. The report noted that JPMorgan Chase, Barclays and Synchrony were also in the running to partner with Apple on the credit card.
Payments Source
MAY 28, 2019
The Women in Payments Leadership Exchange is a platform for prominent female executives to share not only their expertise and advice for their peers, but also to share the defining moments in their own careers.
PYMNTS
MAY 28, 2019
So much starts with coffee – mornings, political ads, artistic movements, advances in QSR retail – and that dictum could hold true with robots, at least the next generation of robots that promise to be powered by 5G technology. The world is waking up to the fact that emerging 5G technology could bring significant, widespread change to not only business and economics, but also to many parts of civilization.
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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
Bobsguide
MAY 28, 2019
Juggling an ever-tightening compliance burden, fending off technological challengers and satisfying customer expectation is a tall order for many established asset and investment managers. As profit margins shrink, asset managers must find alternative avenues to generate income and remain.
PYMNTS
MAY 28, 2019
For Total System Services (TSYS) and Global Payments, it’s official. To that end, the companies said they would enter into a merger valued about $21.5 billion, marking the latest in a string of multi-billion dollar deals among global players offering a range of services and products across the payments landscape. The merger follows the $34 billion deal between FIS and Worldpay that came in March and the $22 billion announcement between Fiserv and First Data that was announced in January of this
CFPB Monitor
MAY 28, 2019
Continuing our coverage of the CFPB’s proposed debt collection rules , this blog post will focus on a few provisions that pertain specifically to mortgage servicers. In part, the proposal continues the CFPB’s efforts to harmonize mortgage servicing regulation (which generally promotes communication with consumers) and debt collection regulation (which generally restricts communication with consumers).
PYMNTS
MAY 28, 2019
With abundant choices in many aspects of their lives, consumers expect a range of options when it comes to online shopping, ranging from picking out clothes to making travel plans. And, to meet their day-to-day needs, more consumers are tapping into digital platforms seeking top-notch customer support and seamless service. By 2021, close to 90 million – or 86.5 million – consumers will be participating in the digital platform ecosystem, per the PYMNTS and the Platform Economy Playbook.
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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.
Payments Source
MAY 28, 2019
The responsibility falls on employers to facilitate a payroll function that helps their workers access funds efficiently regardless of whether an employee chooses or is forced to forgo traditional banking, writes Brian Radin, president of Comdata's prepaid and payroll card business.
PYMNTS
MAY 28, 2019
Call it the great purge of 2019? Amazon is reportedly in the midst of reshaping relationships with several of its longtime vendors, according to Bloomberg. The lasting effect will be that bulk orders “dry up” for many suppliers, most of them classified as smaller firms. The latest actions come after an initial halt, the news outlet reported, that occurred months ago.
Payments Source
MAY 28, 2019
Global Payments' purchase of TSYS is the latest merger of large payment technology companies — and by no means the last.
PYMNTS
MAY 28, 2019
Driving efficiency in accounts payable (AP) can stem from an array of efforts. Adopting electronic payments and getting rid of paper checks is certainly one way to boost AP efficiency. In addition, adopting a digital accounts payable platform can streamline operations, as well as open access to digital data for analytical and process automation purposes.
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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.
Payments Source
MAY 28, 2019
When it comes to naming the U.K.’s biggest cashless hubs, Bristol may not immediately spring to mind — but the city has topped Manchester, Birmingham and even London to lead the way as the country’s contactless capital.
PYMNTS
MAY 28, 2019
Following the pilot-test rollout of a Whopper made with the vegetarian-friendly Impossible Burger, locations in Burger King ’s St. Louis test market reportedly exceeded the restaurant’s foot traffic national average by 18.5 percent in April. The data comes from inMarket inSights, which looked at location data in March prior to the Impossible Whopper test in April, CNBC reported.
Payments Source
MAY 28, 2019
By using the Visa and Mastercard tokenization services, BBVA Group has developed a mobile payments platform it can deliver to all countries in which it has a presence.
PYMNTS
MAY 28, 2019
The Federal Trade Commission has launched an investigation into the merchant cash advance industry just days after FTC Commissioner Rohit Chopra called on the watchdog to tackle unfair small business lending practices. The Washington Post reported late last week that the FTC has opened an investigation into potentially unfair contract terms imposed on small business borrowers by merchant cash advance companies and other small to medium-sized business (SMB) lending companies.
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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.
Payments Source
MAY 28, 2019
While some of the biggest institutions are already rapidly developing new technologies, it’s important that community banks also tap the power of artificial intelligence and machine learning.
PYMNTS
MAY 28, 2019
Much thought is given to millennials and even Generation Z — consumers who were born during fixed periods of time, and who are having an increasing impact on payments and commerce. But let’s not forget the role of the teenager in digital retail, financial services and transactions. There will always be teenagers, after all, and they have significant power and influence, along with a native mastery of mobile and other associated technologies.
ABA Community Banking
MAY 28, 2019
Bankers deploy digital solutions to bring in new customers, from mobile ID verification to automated bill pay switchovers. The post Completing the Conversion appeared first on ABA Banking Journal.
PYMNTS
MAY 28, 2019
A year after the debut of Europe’s General Data Protection Regulation (GDPR), a total of €56 million ($62 million) in fines have been doled out. According to a report in 9to5Google , citing legal database Lexology, there were more than 200,000 investigations in the first year of GDPR, with 64,000 upheld. Of the total €56 in fines, €50 million was levied against Google after France’s National Data Protection Commission found it didn’t meet the transparency rules about how it col
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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.
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