Bank Innovation
NOVEMBER 20, 2017
EXCLUSIVE—Banks need to start integrating with more fintech services and building out more products through APIs, FI.SPAN CEO Lisa Shields told Bank Innovation, before regulations on open banking start to cramp what FIs can build. “What we are betting our business on, is that there is a massive opportunity for banks to innovate,” Shields said. […].
Accenture
NOVEMBER 20, 2017
In “Paradise Lost”, 17th-century English poet John Milton describes two types of warriors: One group are “employed in sporting games and exercises” and “sing in the valleys”, while the other group “rend up both rocks and hills”, “make wild uproar” and “ride the air in whirlwind”. Milton’s bifurcation also applies to the modern-day payments industry.
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Bank Innovation
NOVEMBER 20, 2017
Spanish bank BBVA will integrate a biometric authentication feature into its mobile app, allowing users to log into their app via iris scan. The feature, announced today, will use Samsung’s iris scanning technology, recently updated along with its other biometric capabilities, according to the company. The company’s iris recognition feature is part of a suite […].
Chris Skinner
NOVEMBER 20, 2017
Things we’re reading today include … Brexit Pushes EU Bank Regulator Into Arms of Continental Suitors The Future Of Banking Is In The Palm Of Your Hand When the last bank leaves town ‘We’ve been badly served by banks’: the small firms seeking ethical banking Increase in disgruntled employees stealing confidential … The post Things worth reading: 20th November 2017 appeared first on Chris Skinner's blog.
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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
NOVEMBER 20, 2017
EXCLUSIVE- Royal Bank of Scotland becomes the first bank in the U.K. to go live with an investment robo-advisor under its NatWest Bank brand, RBS said in a release today. Starting today, the digital service is available to NatWest Bank’s five million customers through NatWest Invests‘ platform online. Since the tool is geared towards “customers […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 20, 2017
London-based fintech Glint has launched a way for users to pay for goods and services in gold. The company moved into public beta today, with a mobile app, accompanying Mastercard-powered debit card, and multi-currency app, which allows a user to store money in gold. At the point-of-sale, that gold is turned back into fiat currency. […].
Chris Skinner
NOVEMBER 20, 2017
I’m involved in quite a lot of start-ups, ICOs and funds these days, and recently started a mini-series of interviews with them, as I think it will be of interest to readers of my blog. In the third of this series, I’m interviewing Igor Khmel, CEO and founder of BANKEX, whose tokensale is … The post Introducing BANKEX appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 20, 2017
Allied Irish Bank (AIB) has invested €30 ($35.3) million in B2B payments platform TransferMate. The investment has likely brought the valuation of the fintech to €300 million ($350 million), according to reports. As for Allied Irish Bank (AIB), the investment gives it a minority stake in TransferMate as well as a stronger foothold in the […].
PYMNTS
NOVEMBER 20, 2017
Accomplished public intellectual and post-Keynesian economist John Kenneth Galbraith was well-known for four things. He didn’t think much of math and science — rather unusual given his choice of a profession that uses complicated math formulas to communicate. His economic principles were what inspired President Lyndon B. Johnson to kickstart the now-controversial “War on Poverty” program in the 1960s — a series of programs intended to end poverty and racial injustice.
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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
NOVEMBER 20, 2017
PaymentEye sat down with Scott Galit at Money20/20 to discuss the future of e-commerce, how technology and the internet are transforming the industry and Payoneer’s initiatives of working with small businesses. What is the objective behind Payoneer? Our goal at Payoneer is to empower our.
PYMNTS
NOVEMBER 20, 2017
To say that cross-border B2B payments could use an efficiency reset not only states the obvious, but is an understatement about the state of money movement around the world. Inefficiencies related to the speed of transfer and settlement, the transparency of how money is moved, how much it costs to move it and the inconsistent or incomplete data that moves (or doesn’t move) along with it are just some of the B2B cross-border challenges that banks and their customers are facing, day in and day out
Bobsguide
NOVEMBER 20, 2017
Outsourcing KYC is a good way for banks to safeguard their continued regulatory compliance and control spiralling costs, explains Toby Tiala, Programme Director, Equiniti KYC Solutions. In a bid to combat money laundering, market manipulation and even terror funding, the rising tide of.
PYMNTS
NOVEMBER 20, 2017
Student loans have an unexpected consequence if they go unpaid: Borrowers who default on their payments can lose their state-issued professional licenses. That’s according to a news report in CNBC that found that in 19 states, government agencies can take away student loan borrowers’ licenses if they default on their debt. What’s more, in South Dakota, a borrower’s driver’s license can be suspended, which makes it close to impossible for them to get to work.
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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.
Let's Talk Payments
NOVEMBER 20, 2017
The world’s largest FinTech Festival took place in Singapore on November 13-17 and was attended by more than 25,000 participants from over 100 countries. Organized by the Monetary Authority of.
PYMNTS
NOVEMBER 20, 2017
[link]. Call it connected commerce of a different stripe. It’s not just buyer and seller. For banks and processors, commerce means customers, of course, transacting across time zones, business verticals and currencies. And there’s an intangible connection too, one that can sow dividends or destruction. We’re talking about reputation. In the latest Topic TBD, PYMNTS’ Karen Webster spoke with Jane Hennessy, head of external alliances at of G2 Web Services about the growing need for reputation mana
Insights on Business
NOVEMBER 20, 2017
As the commercial banking landscape transforms rapidly to adapt to an increasingly digital world, it’s clear that client-demand-led schemes like faster payments are challenging the traditional paradigms we’ve held sacred for decades. This is resulting in direct pressure on financial institutions to adapt faster and place a premium on innovation now – more than ever before.
PYMNTS
NOVEMBER 20, 2017
Smartwatches used by children are being banned in Germany by the Federal Network Agency, which cites concerns about spying. According to a BBC news report , the telecom regulator urged parents that owned the watches to destroy them. In a statement, the agency said it has already been prompted to take action on firms that sell the smartwatches online because of the ability for hackers to watch children through the devices. “Via an app, parents can use such children’s watches to listen
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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.
Let's Talk Payments
NOVEMBER 20, 2017
The India FinTech Awards (IFTA) is a platform to celebrate and recognize the best innovations from FinTech companies. The awards platform has been conceptualized to give FinTech firms a chance.
PYMNTS
NOVEMBER 20, 2017
There are few things more fashionable in 2017 than a progressive woman — but why stop at politics? Rebecca Minkoff’s connected handbag line lets the modern lady carry progress in a cross-body. If the modern man wants to get in on the smart clothing trend, there’s a stylish bomber jacket by New York City men’s designer Rochambeau that uses the same technology as the new Minkoff handbags.
Let's Talk Payments
NOVEMBER 20, 2017
Capitalism is a cultural construct as much as economic. In his talk, Kary Bheemaiah, Head of Research at U Change, Associate Researcher & Scientist at Cambridge Judge Business School, explains.
PYMNTS
NOVEMBER 20, 2017
When it comes to innovation in technology, there are bound to be positives as well as negatives. While eCommerce is booming, some marketplaces are having better (or worse) luck than others, and digital currencies are seeing astonishing fluctuations. In today’s PYMNTS data, Alibaba is fighting counterfeit product listings on its shopping platforms, and its co-founder is looking to buy a relatively large stake in the Brooklyn Nets NBA team; financial institutions (FIs) are using Visa rails to move
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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
NOVEMBER 20, 2017
Successful mobile payment players such as Starbucks, Alipay and WeChat Pay all rely on optical scanning technology rather than NFC to execute payments. It's time the rest of the industry take note, writes Maikki Frisk, executive director of the Mobey Forum. -.
PYMNTS
NOVEMBER 20, 2017
Continuing its partnership with last-mile delivery provider Deliv , a Menlo Park-based startup, Walmart is expanding its same-day grocery delivery services in the San Jose, California area, according to a news report from TechCrunch. Customers will be able to shop online and schedule deliveries between 8:00 a.m. and 8:00 p.m. on any day of the week, the companies announced on Friday (Nov. 17).
Payments Source
NOVEMBER 20, 2017
Alibaba Group Holding Ltd.’s $2.9 billion deal to buy a slice of China’s largest hypermart chain pits it against Wal-Mart Stores Inc. in the world’s largest retail arena.
PYMNTS
NOVEMBER 20, 2017
SAP says its margins are expected to finally flatten out in the year’s fourth quarter, according to the firm’s CFO Luka Mucic. News from Reuters on Friday (Nov. 17) revealed that the German technology firm is expecting improved earnings starting in 2018 as the company continues its shift toward cloud-based enterprise offerings. Investments in data centers, among other shakeups, led to declines in SAP margins.
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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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