Chris Skinner
FEBRUARY 17, 2020
Another day, another conference, another meeting. This time we’re chatting and talking with a group of people from banks, and I’m wearing one of my favourite new t-shirts, emblazed with the message: Just hodl it! Before taking stage, someone asked me what hodl meant. I was surprised. I thought everyone … The post JUST HODL IT appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 17, 2020
Royal Bank of Canada is using digital money transfer service Interac to help corporate clients follow up with their customers on outstanding debts. The bank announced the feature, “Interac e-Transfer: Bulk Request Money,” last week to help clients collect payments faster. Through Interac, a bank-operated digital payments service used by Canadian consumers, RBC business clients […].
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Chris Skinner
FEBRUARY 17, 2020
Things we’re reading today include … What will bank branches look like in the future? HSBC sees annual profit slump by 33% Mifid II review aims to boost euro trading in commodities HSBC sets new cost cutting, earnings targets after 2019 profit falls 33% Brexit: France warns UK of bitter … The post Things worth reading: 18th February 2020 appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 17, 2020
WorldRemit is partnering with Alipay to reduce friction in cross-border payment transactions. The integration allows WorldRemit customers to send money to Chinese recipients by connecting with their Alipay accounts. The service has been available since January. Since Alipay is one of the most commonly used mobile wallets in China, integration with WorldRemit is meant to facilitate money movements while Chinese citizens and residents make payment transactions at home […].
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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
FEBRUARY 17, 2020
IoT technology has rapidly expanded beyond in-home devices into cities worldwide. Governments and institutions in Europe, India and the United States are experimenting with IoT solutions to enhance city life, and the technology is expected to create between $4 trillion to $11 trillion in value over the next several years. Municipalities could utilize it for everything from street light control and air quality monitoring to transportation safety.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
FEBRUARY 17, 2020
With some analysts projecting a trillion IoT-enabled devices to be in use around the world by 2035, defending the IoT ecosystem is becoming more crucial as emerging technologies spread across business sectors and spark the development of smarter cities, homes and automobiles. In the February Intelligence of Things Tracker , PYMNTS examines how connecting devices can promote efficiency, optimized operations and streamlined organizational structures — but doing so can also create favorable data br
Bobsguide
FEBRUARY 17, 2020
Large banks are struggling to develop money management apps to rival challengers, according to Mark O’Keefe, Payments Systems Regulator (PSR) panel member and founding director at Optima Consultancy. “There's a lot of talk, and I think this is probably a theme that you see from.
PYMNTS
FEBRUARY 17, 2020
Commerce is increasingly crossing borders and currencies, digitally, affording firms of all sizes, and across all verticals, opportunities to tap into new markets. Managing and executing payments globally can be a sticking point, though, as companies must grapple with fund flows across banks and supply chains , where fees accrue and processing times can be slow.
Payments Source
FEBRUARY 17, 2020
Long-term success in the adoption of cloud technology requires a focus and integration of cloud within the broader business transformation plan, says Unisys' Maria Allen.
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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
FEBRUARY 17, 2020
Online bank N26 ‘s decision to exit the U.K. has customers feeling left behind, CNBC reported. The Berlin-based digital bank said it would not be able to operate in the country anymore in the wake of Brexit, as it will no longer have a license to do business there. The startup will shutter all of its U.K. locations on April 15. N26 made its entry into the U.K. in October of 2018 — more than two years after the U.K. made its decision to leave the European Union, but six months before Brexit
Payments Source
FEBRUARY 17, 2020
A Denver company says that the $410 billion-asset bank used its confidential information to create a copycat product and poach its customers. PNC is contesting the allegations.
PYMNTS
FEBRUARY 17, 2020
Venture capitalists in China are putting record levels of money into tech startups in India, raising questions about the ability of the geopolitical rivals to work cooperatively, the Financial Times (FT) reported on Monday (Feb. 17). The geopolitical rivalry and “frosty relations” between the two countries have made India cautious about financial input from China. .
Ron Shevelin
FEBRUARY 17, 2020
Marcus could have more customers calling it their primary bank than US Bank, PNC, and Truist have. Ranked by number of primary bank customers, Marcus would become the 5th largest bank in the US.
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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
FEBRUARY 17, 2020
British digital bank Monzo , expanding fast, wants to hire up to 500 people and (hopefully) reach 5.5 million users this year. The bank is also preparing to try charging customers again to turn a profit. Monzo, a loss-making firm launched in 2015, has burned through cash in its attempt to grow and eventually launch in the U.S. Yet, it’s had no problem raising capital — it’s valued at more than £2 billion ($2.6 billion).
American Banker
FEBRUARY 17, 2020
A Denver company says that the $410 billion-asset bank used its confidential information to create a copycat product and poach its customers. PNC is contesting the allegations.
PYMNTS
FEBRUARY 17, 2020
Credit unions (CUs) have a bit of asymmetry in their relationships with their customers. On one hand, as PYMNTS data shows , customers very much like their credit unions, and are loyal to them. PYMNTS found that 65 percent of members chose their CUs because they trusted them, 58.4 percent reported being “extremely” satisfied with them and 60.8 percent said they would not leave their CUs for different financial institutions (FIs).
FICO
FEBRUARY 17, 2020
South Africans just went through the month they dub Janu-worry, where they fret about how to pay off our December bills. That's over, but the big picture is scarier than any family's holiday spending binge. What we see, as a company that works with lenders and debt collection agencies worldwide, is that the financial services sector has a lot to be Febru-worried about as well.
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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
FEBRUARY 17, 2020
FinTech startup EasyEuro — based in both Paris, France and Shenzhen, China — has closed a $4 million pre-funding deal to launch a Neobank (a 100 percent digital bank) that will target Europe and China simultaneously, the company announced in a recent blog post. The funds will be used for the Neobank product development, talent recruitment and market expansion. .
PYMNTS
FEBRUARY 17, 2020
Bostonians take their running seriously. Boston is home to the world’s “statement race” — the Boston Marathon. There was a time when you trained there if you considered yourself a serious runner, although Kenya has taken that spot. And although Runner’s World magazine had the nerve to rank it No. 3 in the best running cities in the U.S., you’d be hard-pressed to find a Chowdahead who doesn’t think Boston is the running capital of the world.
The Financial Brand
FEBRUARY 17, 2020
Banking trends and priorities for 2020 from financial services and business leaders, as well as financial institutions from around the world. The post 2020 Retail Banking Priorities Don’t Reflect Urgency For Change appeared first on The Financial Brand.
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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
FEBRUARY 17, 2020
Banks and bursars’ offices are doing their part to tamp down America’s ballooning college debt crisis … by disbursing tuition monies painfully slowly. The punchline isn’t all that funny, actually, as 21st century college lending remains mired in paper checks and legacy disbursement systems. It’s an upside-down situation, as accredited institutions are under legal mandate to issue grants and aid in the form of paper checks, even though most have the option of disbursing via automated clearing hou
The Financial Brand
FEBRUARY 17, 2020
Out of hundreds of fintech rivals, 30 stand out as serious competitors to banks and credit unions, including five rising stars. The post The Challenger Banks That Threaten to Disrupt Financial Institutions appeared first on The Financial Brand.
PYMNTS
FEBRUARY 17, 2020
The lawsuit against Amir Golestan and his web-services provider firm Micfo is shedding light on the ecosystem that governs the world of online spammers and hackers, a Wall Street Journal article said on Monday (Feb. 17). In this first-of-its-kind fraud prosecution of a small technology company, Golestan is facing 20 counts of wire fraud in a suit brought in the U.S.
The Financial Brand
FEBRUARY 17, 2020
Major changes to web selling and promotion loom as Google pursues new rules for the leading browser. Great site content could become king. The post How Financial Marketers Must Prepare as Chrome Cookies Crumble appeared first on The Financial Brand.
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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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