Payments Dive
APRIL 5, 2018
One of the best-attended educational sessions at the recent National Automatic Merchandising Association show in Las Vegas focused on how payment technology innovations — namely mobile payments — are impacting customer expectations.
Bank Innovation
APRIL 5, 2018
The Reserve Bank of India (RBI) strikes cryptocurrency again. This time India’s central bank issued a statement today banning all entities that fall under its regulation, from dealing with any cryptocurrencies. Since RBI is India’s central bank that means all the country’s banks and FIs fall under RBI’s authority. Today’s statement read: Technological innovations, including […].
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Chris Skinner
APRIL 5, 2018
Things we’re reading today include: Barclays’ credit rating downgraded to just above ‘junk’ Inside the takedown of the alleged €1bn cyber bank robber Tesco Bank apologises after getting the rules wrong on recurring payments Deutsche Bank system replacement already paying back India’s Central Bank To Stop Dealing With All Crypto-Related … The post Things worth reading: 6th April 2018 appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 5, 2018
The Japanese Financial Services Agency, or FSA, has signed a fintech letter of cooperation with Swiss regulators the Financial Market Supervisory Authority, the agencies announced yesterday. The two letters are designed to deepen the relationship between the two countries in regards to fintech innovation; the letters pledge to share information in fintech with each respective […].
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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
PYMNTS
APRIL 5, 2018
Another data issue for Facebook: The company announced that “malicious actors” were able to use search tools to discover the identities and collect information on most of its 2 billion users worldwide. The news came on the same day that the social media site admitted that data improperly shared with Cambridge Analytica could be much higher than the originally estimated 50 million users.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
APRIL 5, 2018
Starbucks Coffee Korea Co. is launching voice ordering through Bixby, becoming the first retailer to use Samsung ’s voice assistant for orders and payment. The company is a joint venture between Shinsegae Group and Starbucks Coffee International , retail news source Chain Store Age reported. “We are pleased to provide our customers with more convenient ways to be rewarded for their purchases,” said Starbucks Coffee Korea CEO, S.K.
Bank Innovation
APRIL 5, 2018
Mobile payment providers should focus on the simple things, not only beating their competitors, when it comes to innovation—at least according to Fiserv, who noted as much in a recent white paper. Consumers want friction reduced in their daily tasks, like buying a cup of coffee or withdrawing cash, Fiserv noted in its ‘Four Pillars […].
PYMNTS
APRIL 5, 2018
The key to success is often access to the right thing at the right time. That might be salary, which is why tilr is so focused on getting paychecks into worker’s wallets as fast as possible. Or it might be credit — which Petal wants to free from the shackles of FICO. But the big takeaway from today’s data is this: If you build the access and the speed necessary to sustain it, people will come.
Bank Innovation
APRIL 5, 2018
EXCLUSIVE- Software-as-a-service banking engine provider Mambu wants to be a consultative partner for financial institutions: at least, that’s the idea behind the marketplace service it launched today. Through a free public website, Mambu Marketplace, the Berlin-based fintech is hoping to create a comprehensive platform of tech and service providers that banks can use for various […].
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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
PYMNTS
APRIL 5, 2018
The Apple App Store endured its first ever contraction in 2017 — dropping from 2.2 million published iOS apps in the beginning of the year to 2.1 million by year-end. The news comes from a new report from Appfigures, according to TechCrunch. The App Store’s contraction was paired with the Google Play stores’ expansion — in 2017, it reportedly grew 30 percent to around 3.6 million apps.
Bobsguide
APRIL 5, 2018
While banking and financial institutions in many corners of the globe have embraced the benefits technology has brought to the sector in recent years, Sharia-compliant fintech solutions are quickly catching up. That’s according to a report published last year by research firm Wamda Research.
PYMNTS
APRIL 5, 2018
GoFundMe , the social fundraising platform, announced news on Wednesday (April 4) that it is acquiring personal fundraising site YouCaring for an undisclosed sum. In a blog post announcing the deal, GoFundMe said the acquisition furthers its mission to help people turn compassion into a call to action. During the transition, GoFundMe said YouCaring fundraisers will be able to continue to collect donations and will have the chance to move over to the GoFundMe platform.
Bobsguide
APRIL 5, 2018
Distributed Ledger Technology and the General Data Protection Regulation can be like in-laws. The former, complex, the latter for many, downright scary. But together they can become the perfect parents, the foundation for next-generation data management and financial services. The need to.
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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.
PYMNTS
APRIL 5, 2018
Historically speaking, it has not been easy for U.S. retailers (or any foreign players) to establish a strong presence in the Chinese market. However, many have been working hard to overcome the barriers and do business in the Far East, and some progress has been made. Meanwhile, although many products around the world bear the “Made in China” stamp, that doesn’t necessarily mean Chinese brands have had an easy time setting up shop away from home.
Payments Source
APRIL 5, 2018
The U.K. government has committed to a 5G Urban Connected Communities Project for a city-wide trial of 5G wireless technology as part of the fourth phase of the government’s 5G strategy. This trial should spark substantial investment in new payments technology.
PYMNTS
APRIL 5, 2018
Sears, the department store operator, and Delta Air Lines, the airline operator, disclosed Wednesday (April 4) that payment information of some of their customers could have been exposed as part of a data breach at [24]7.ai, the software provider. According to a report in Reuters citing the companies, [24]7.ai, which provides online support services to Sears and Delta Air Lines, among other firms, informed Sears in the middle of March that the hack resulted in the unauthorized access of credit
Insights on Business
APRIL 5, 2018
As the financial services industry continues to be disrupted by smaller, agile fintech startups, long-established financial institutions are looking for ways to keep pace. One approach to accomplish this is to build, deploy and even monetize next-generation apps on the IBM Cloud. An example of how this is happening is to look to research company Morningstar and their APIs, which help build software faster and provide easy access to powerful Morningstar research services, calculation engines and
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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.
PYMNTS
APRIL 5, 2018
A judge has ruled that the state of Massachusetts can move forward with its lawsuit against Equifax. According to Reuters , the suit alleges that the credit reporting firm failed to protect its databases or provide prompt notice of the massive data breach that exposed the personal data of 147 million people. Last year, it was revealed that Equifax had experienced a cybersecurity incident that at the time was believed to have impacted approximately 145 million consumers in the U.S., as well as th
Bobsguide
APRIL 5, 2018
Since SWIFT first announced global payments innovation (gpi) at SIBOS in 2015, more than 150 financial institutions have joined the platform, pushing more than US$100 billion daily across the system. This support and traction has been driven by growing client expectations for enhanced speed and.
PYMNTS
APRIL 5, 2018
After acquiring Plated last year , Albertsons is now planning to offer the company’s meal kits in “hundreds” of its stores. Customers will also be able to order the kits for delivery via Instacart , CNBC reported. “This was the reason to do the deal,” Plated Co-founder and CEO Josh Hix told CNBC. “From day one, we wanted to use their stores and their assets to build this omnichannel experience.” Albertsons did not say exactly how many stores will carry the mea
Bobsguide
APRIL 5, 2018
Advocates of biometrics would have us believe in some dystopian future where customers have microchips embedded in their palm for seamless payments. But what are the real use cases for biometrics beyond what is a far-off sci-fi fantasy? Well, at least 6+ months far off. The customer-centric.
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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.
PYMNTS
APRIL 5, 2018
The hunt for a parking space is never easy, with time idly spent as cars and trucks and vans idle, watching and waiting for spaces to empty. But as with so many components of daily life, technology offers some solace, speeding the process and shortening wait times. Possibly even boosting city coffers too, depending on the application. In one recent initiative, eleven-X , which operates a public, coast-to-coast, low-power Internet of Things (IoT) network, said PNI Sensor has joined its Partner
Bobsguide
APRIL 5, 2018
The biggest shake-up to banking and payments in a decade, PSD2 offers third parties unrivalled opportunity to access user-permissioned financial data. It spells a shift, along with GDPR, in how we view data as more and more industries leap into the embrace of the digital. They also leap into.
PYMNTS
APRIL 5, 2018
There are many ways to quickly hail a ride through platforms such as Uber — or have a freelancer complete a task through Fiverr. But payments for gig workers can be a completely different story. Gig workers aren’t getting paid as quickly as they have been in the past. The most recent PYMNTS’ Gig Economy Index , for example, found that 51 percent of gig workers surveyed in the fourth quarter of 2017 reported being paid within one week of rendering their services.
Payments Source
APRIL 5, 2018
Companies that aspire to be the Uber of their industry should take a second look at the ride-sharing market, where Grab has become a lightning rod of payments investment and innovation.
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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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