Payments Dive

JANUARY 25, 2019

Consumers in the U.S. are still struggling to overcome psychological barriers to embracing mobile payments technology, according to research from two leading financial services experts.

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PYMNTS

JANUARY 25, 2019

With PSD2 in full swing in the European Union (EU), any merchant dealing with the payment data of EU citizens must upgrade their payment protocols to stay compliant. That said, the fact that PSD2 is effectively changing how merchants transact doesn’t mean the merchants in question understand what those changes mean. In the January PSD2 Tracker , PYMNTS examines how money movement and data flow are getting an upgrade with PSD2, as well as how the upcoming SCA regulation is bound to affect user au

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Bank Innovation

JANUARY 25, 2019

Royal Bank of Canada will add subscription monitoring and tracking to its AI-driven financial management platform Nomi, Bank Innovation has learned. "We have insights that remind clients about subscription fees that are coming up, i.e. Netflix, Spotify etc," Rami Thabet, VP of mobile at RBC told Bank Innovation. "We continue to innovate in the areas of digital […].

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PYMNTS

JANUARY 25, 2019

This week, Barclays and Santander InnoVentures demonstrated traditional banks’ interest in alternative finance when they led a nearly $34 million equity fundraise for invoice financing platform MarketInvoice. However, the company wasn’t the only one landing support for its invoice finance operations: India’s M1Xchange and U.S.-based Apruve landed funding for their solutions, signaling continued interest by venture capitalists (VCs) in not only alternative finance, but in FinTe

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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

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Bank Innovation

JANUARY 25, 2019

BMO Harris Bank is having technical difficulty with the rollout of its new mobile banking app, which is part of a digital revamp of Bank of Montreal’s U.S. operations. A January 16 tweet announcing “new digital enhancements to online and mobile banking” was followed by a slew of customer complaints that spilled over into subsequent […].

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Gonzobanker

JANUARY 25, 2019

Fiserv acquiring First Data Corporation is a huge deal in the fintech world. This deal impacts not just the payments space but the whole financial services ecosystem, and the implications will take a while to unpack. In the meantime, and with an expected closing later in the year, our initial reactions: Follow the money. Twenty-two billion dollars is a monster-size deal, but at 2X First Data’s annual revenue, the price is a way lower revenue multiple than the growth-oriented digital mashups lini

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PYMNTS

JANUARY 25, 2019

There are few familiar places in the regular life of a consumer other than the grocery store , and that familiarity can breed a type of trust, a sense that nothing too weird or threatening will happen there. That doesn’t mean they can’t be about innovation. Supermarkets are home to some of retail’s major and ongoing technological advances — and 2018 stands as a big year for grocery innovation.

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Payments Source

JANUARY 25, 2019

The problem with bug bounties is that while it can complement vulnerability management programs, it does not offer the comprehensive coverage an enterprise requires, contends Mark Weiner, CMO of Balbix.

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PYMNTS

JANUARY 25, 2019

There’s an old saying in battle that the enemy of your enemy is your friend. In eCommerce, all sorts of alliances emerge, with Amazon squarely in sight. And according to recent news on the eCommerce front, Google has lost a friend, seemingly, in at least part of its ongoing eCommerce battle against Amazon. Bloomberg reports that Walmart has “quietly” left one of Google’s key efforts against Amazon, having removed products from the latter’s Shopping Actions website, and also left Google Express,

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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

Report

Bobsguide

JANUARY 25, 2019

Your middle- and back-office systems are the spine of your operation: if they’re unhealthy or misaligned, the whole business suffers. But when building a strategy to differentiate your service for your customers, it’s easy to focus most of your attention on the front office.

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PYMNTS

JANUARY 25, 2019

The General Data Protection Regulation (GDPR), which went into effect May of 2018, has had some serious repercussions on tech companies all over Europe, but especially in the U.K. The latest company to be affected may be food delivery app Deliveroo, according to a report in the Financial Times. The U.K. data protection watchdog is looking into the company after it reported “limited fraudulent activity” on some customers’ accounts.

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Data Security social media Fraud 178

Bobsguide

JANUARY 25, 2019

European Union attempts to unite the continent’s anti-money laundering (AML) approach is unlikely, says Andrew Simpson, chief operation officer at CaseWare Analytics, as is the setting up of a centralised European AML regulatory body. “Within the EU there is a possibility that you.

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PYMNTS

JANUARY 25, 2019

Real-time access to data is a driving force behind enterprise modernization. It is, in part, why businesses are digitizing and adopting technology, as they look toward software solutions that can unlock information more quickly. The race to digitize has introduced a new conundrum in corporate data management, however. With more on-premise and cloud-based solutions operating in the back office, enabling all these systems to communicate and share data with each other is not a given.

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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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Bobsguide

JANUARY 25, 2019

A spokesperson for challenger bank N26 believes that “traditional banks have historically charged hidden fees and higher rates”, unfairly affecting customers who may have “unknowingly or accidentally used the overdraft function” In December, Financial Conduct Authority.

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PYMNTS

JANUARY 25, 2019

Standard Chartered is the latest financial institution to have completed a trade finance transaction via blockchain, the bank announced Thursday (Jan. 24). Reports in Business Times said the FI’s unit in Singapore has completed its first cross-border trade finance transaction using blockchain infrastructure from Distributed Ledger Technologies.

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Insights on Business

JANUARY 25, 2019

It is that time of year when we do an annual review of the blogs our readers viewed the most on our Insights on Banking blog. Looking at the top five blog entries of 2018, we see that using technology to meet the ever-increasing scale and rate of regulatory change is top of mind for financial service organizations. As Marc Andrew’s notes in his blog, Demystifying AI for risk and compliance , in 2018, we saw AI tackle exhausting regulatory requirements.

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Marketing blockchain Compliance Innovation 79

PYMNTS

JANUARY 25, 2019

San Francisco-based HostBooks is stepping into the small business (SMB) accounting software industry, announcing Thursday (Jan. 24) that its solution officially launched over the weekend. In its announcement , HostBooks aimed to differentiate itself from industry leaders, including QuickBooks and Xero , by emphasizing its focus on automation. “Being a CPA, I am aware of all the issues holding down the accounting industry,” said HostBooks Founder Kapil Rana in a statement. “With

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San Francisco Industry Data Software 172

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Payments Source

JANUARY 25, 2019

Due to growing consumer expectations for 24/7 digital access and real time decisions, some organizations such as financial institutions and merchants have reduced the more stringent manual application review processes in order to open accounts quickly, according to Michael Lynch, chief strategy officer at InAuth.

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Fraud Strategy Security Retail 84

PYMNTS

JANUARY 25, 2019

The U.S. payments landscape is shifting into higher gear, pressuring corporations to accelerate their processes. As they work to achieve this, more companies are ditching paper-based methods and embracing digital solutions that streamline payments and reconciliations. Some financial institutions (FIs) are seeking to help their corporate clients tap into real-time payments (RTP) to keep up the pace. .

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Payments Source

JANUARY 25, 2019

Florida’s Tropicana Field has eliminated cash from all concessions, ticket sales and parking, requiring Tampa Bay’s baseball fans to pay with credit, debit or gift cards at terminals that are also equipped with NFC for mobile and contactless payments.

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PYMNTS

JANUARY 25, 2019

After a disappointing holiday quarter in 2017, the pressure was on Starbucks , which reported its most recent quarterly earnings yesterday (Jan. 24). Investors were eager to see if the brand’s efforts to streamline its special offerings, and efforts for holiday 2018, had brewed up a merrier picture. By the numbers, Starbucks delivered. Earnings came in at $.68 per share, topping analysts’ estimates of $.65 per share, and revenue was up 9 percent to $6.63 billion, beating estimates of $6.49

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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.

Compliance

Payments Source

JANUARY 25, 2019

Jason Oxman is leaving his CEO position at the Electronic Transactions Association to become the president and CEO of the Information Technology Industry Council, a position he will assume in late February.

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Industry Technology Payments 74

PYMNTS

JANUARY 25, 2019

The $24 trillion global B2B commerce opportunity, as PYMNTS readers know, is continually — and has been historically — plagued by the paper chase. The flow of commerce and capital gets bogged down in phone calls, applications, emails and inefficient risk profiling based on traditional credit models. In terms of payments technology and alternative lending, B2C and B2B may be respectively seen as digital versions of the hare and tortoise.

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Retail Capital Data Payments 159

Payments Source

JANUARY 25, 2019

Fiserv’s $22 billion deal to acquire First Data creates pressure to scale core banking and payment processing that may force further industry consolidation.

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Data Industry Payments Fintech 74

PYMNTS

JANUARY 25, 2019

Commercial payments technology firm WEX has completed its takeover of corporate bill payments company Noventis, a press release announced Thursday (Jan. 24). In its announcement, WEX said it is “excited” to close the dealt that will enable the company to enhance its existing corporate payments network and infrastructure. WEX President of Corporate Payments Jay Dearborn added that Noventis’ offerings compliment WEX’s existing suite of corporate payments solutions.

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United States Payments Technology Strategy 152

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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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