Bank Innovation
JANUARY 2, 2019
For quite a long time, traditional brick and mortar banks only had to worry about making money and being profitable. All that is changing due to emerging technologies. The banking industry is facing many unprecedented challenges due to the rise of financial technology companies. Industry-leading operators, as well as ambitious startups in the banking scene, […].
PYMNTS
JANUARY 2, 2019
With the global mobile point of sale (mPOS) market projected to experience a compound annual growth rate (CAGR) of 18.8 percent from 2017 to 2026, many solution providers are looking to use partnerships as a boost to snag a bigger share of the growing market. Around the mPOS space, providers are teaming up, merging or making acquisitions. In the January mPOS Tracker , PYMNTS charts the latest developments.
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Bank Innovation
JANUARY 2, 2019
It's the beginning of a new year, and naturally new trends will take shape. The seed for some trends like voice banking and contactless payments were already planted last year, while others such like core overhauls went relatively untouched last year. Then there is also the possible revival of older trends (hint: cryptocurrency could be […].
PYMNTS
JANUARY 2, 2019
While commercial card innovation certainly accelerated in 2018, progress can always continue. One area of development that J.P. Morgan Managing Director and Head of Commercial Card Product Management Naney Pandit says should be a focus this year is in mobilizing the corporate card. It’s not altogether an unfamiliar concept, of course. Much attention has been paid to mobile business payments in the fleet sector in particular, with Comdata launching its mobile app, Comdata OnRoad, that links
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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
JANUARY 2, 2019
Bakkt, a cryptocurrency startup led by Intercontinental Exchange, scored $182.5 million to build out its futures trading platform for cryptocurrencies ahead of an anticipated, albeit delayed, launch in 2019. CEO Kelly Loeffler made the announcement of Bakkt’s first capital raise in a Medium post published Monday. "We’ll share details as the New Year unfolds, but […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
JANUARY 2, 2019
As consumers grow more attached to mobile devices for e-commerce and payments, fraudsters are intensifying their focus on handsets with new phishing, vishing to SIM-swap tricks.
PYMNTS
JANUARY 2, 2019
On the face of it, the lure of real-time payments might seem like an inevitability. The concept is gaining traction and deployment across any number of avenues and several countries. In a recent example, in the U.S., a number of leading tech companies have become vocal in their support of a real-time payments (RTP) network, to be created under the leadership of the Federal Reserve and different from what has been previously proposed by the big banks.
Payments Source
JANUARY 2, 2019
As perhaps the world's most wide-reaching, comprehensive data protection rule, the General Data Protection Regulation is having a ripple effect that almost seemed inevitable.
PYMNTS
JANUARY 2, 2019
WhatsApp, Facebook ’s messaging app, is still working to launch its digital payments service nationwide in India. WhatsApp Pay, which is facilitated by the Indian government’s UPI payments system, began testing its service in the country earlier this year with around one million users. Since then, it has processed about one million transactions per month, according to people close to the National Payments Corporation of India (NPCI).
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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
CFPB Monitor
JANUARY 2, 2019
The CFPB and the federal banking agencies—the FDIC, Fed, and OCC— remain open during the government shutdown as their funding does not come from congressional appropriations. However, the shutdown has resulted in the closing of the FTC. Also closed during the shutdown are many HUD operations and activities. Certain lending-related operations will continue during the shutdown such as the endorsement of FHA-insured loans (with the exception of Home Equity Conversion Mortgages and Title I loans)
PYMNTS
JANUARY 2, 2019
When the B2B payments industry began considering what to expect for 2018, commercial cards weren’t often on the radar. Cards are still expected to account for only a minor fraction of B2B payments volume in accounts payable by the end of the year, after all, with ACH gaining traction as the go-to ePayments rail for corporate payers. Yet, 2018 was certainly a big year for commercial cards, and for credit card giants’ B2B payments aspirations overall.
Payments Source
JANUARY 2, 2019
Blockchain technology will allow players to purchase items or games faster, while ensuring their payments are secure, according to Nicolas Gilot, co-CEO of Ultra.
PYMNTS
JANUARY 2, 2019
Online glasses retailer Warby Parker was hit by a cybersecurity attack that affected about 198,000 of its customers from late September to late November, according to reports. The hackers stole usernames and passwords and tried to access accounts. Warby Parker contacted law enforcement when it found out about the breach. The hackers reportedly used info obtained from the unrelated hacking of other companies.
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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
JANUARY 2, 2019
Nearly a year after Chinese phone maker Huawei announced plans to expand Huawei Pay internationally, the mobile payment service has gone live in Russia, its first foreign market.
PYMNTS
JANUARY 2, 2019
Didi Chuxing , China’s largest ride-hailing company, has debuted a slew of financial products for workers, according to reports. The company will offer crowdfunding and lending as it tries to distance itself from a year of scandals, including the murder of two female passengers. In December, Didi announced a company-wide reorganization, meant to improve safety and efficiency.
Payments Source
JANUARY 2, 2019
As the federal budget dispute shoves an increasing number of government workers to the sidelines, there’s a window to provide payments relief that’s superior to options such as payday lending and bartering.
PYMNTS
JANUARY 2, 2019
The European Union wants tougher examination of potential risks associated with Chinese tech companies, amid growing fears of cybercrimes linked to Beijing and the Chinese government. A diplomat who spoke to Financial Times said that with the upcoming adoption of 5G mobile technology, it’s a good time to question China’s motives for offering tech to other countries.
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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
JANUARY 2, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Sony's increasing production of facial recognition cameras; Finger ID can be spoofed; Android apps send data to Facebook; Swift's payments technology expands.
PYMNTS
JANUARY 2, 2019
It has been a year of subscription innovation, with businesses in many verticals – from food to transportation – providing consumers with products and services for a recurring fee. Below, PYMNTS rounds up the top subscription trends of the year and sheds light on how merchants used this offering to offer more flexibility for customers. These are just some examples of how merchants adapted their business models to subscription offerings this year.
Payments Source
JANUARY 2, 2019
Samsung is exploring the development of a smartphone-based cryptocurrency wallet, according to a recent patent application the electronics giant filed in the U.K.
PYMNTS
JANUARY 2, 2019
Let’s move past the metaphors and low-level poetic imagery when it comes to the International Consumer Electronics Show, that annual conference and trade show better (and officially) known as CES. PYMNTS readers already know that CES — scheduled to take place in Las Vegas from Jan. 8 to Jan. 11 — is big, important, exciting, impactful and forward-thinking.
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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
JANUARY 2, 2019
The crypto market has typically been viewed as too risky to make insurance viable, but there are ways to enhance risk management, says BlockRe’s Raymond Zenkich.
PYMNTS
JANUARY 2, 2019
The holiday sales season is nearly done for 2018, and it’s so far so good — particularly for eCommerce. But will 2018’s strong seasonal spending portend a happy commerce new year for retailers? Perhaps. The vast majority of consumers are still feeling confident about their financial situation, and younger consumers in the bridge millennial demographic are aging into their prime spending years.
Payments Source
JANUARY 2, 2019
A partnership between the mobile carrier and BankMobile could help stripped-down banking and deposit transfer services find a footing among U.S. customers.
PYMNTS
JANUARY 2, 2019
Google has a new solution for those feeling particularly charitable, according to reports. Google Assistant , Google’s proprietary voice-activated AI helper, has added a feature that lets users donate to charities via voice from any smart device using the company’s software. Users can say “Okay Google, make a donation” or “Hey Google, donate to charity” to enable the function.
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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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