Bank Innovation
JANUARY 24, 2018
EXCLUSIVE- Echoing the mandate of PSD2, Bank of America Merrill Lynch today unveiled an API gateway that seeks to connect its commercial clients to fintechs and other third-party vendors. As of now, the API gateway is available to only clients with accounts in EMEA (Europe, the Middle East and Africa). Bank of America Merrill Lynch […].
Chris Skinner
JANUARY 24, 2018
I just had a nice holiday in Dubai. The hotel had a huge mixture of Asians, Russians, Indians, Europeans and even a few Americans. It was lovely. Geared up for families, there were rug rats and strollers everywhere. This got me thinking. Yet again, I was thinking how different these … The post Fast cycle change: building a new world appeared first on Chris Skinner's blog.
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Bank Innovation
JANUARY 24, 2018
Payments provider Mastercard has issued a deadline for the availability of biometric authentication across its cards, stating that all customers will be able to use fingerprints or facial recognition for verification by April 2019. For that to work, banks that issue Mastercard-branded bank cards will also need to be able to support these verification methods. […].
Payments Dive
JANUARY 24, 2018
This market report takes a look back at 2017 and profiles carrier billing in the fastest growing countries of Asia Pacific, Latin America, Middle East & Africa, Western Europe and Central & Eastern Europe.
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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 24, 2018
JPMorgan Chase will open 400 new branches in the United States, raise the hourly wage for a portion of its workforce, and add new jobs to its banks as part of a $20 billion investment program, the bank said yesterday. The new branches will join the 5,130 Chase is already operating in the U.S., raising […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 24, 2018
Payment processor Stripe will no longer support bitcoin payments on its platform, citing the cryptocurrency’s price volatility as a factor making it an unsuitable form of payment. Stripe Product Manager Tom Karlo said in a company blog post yesterday: Over the past year or two, as block size limits have been reached, Bitcoin has evolved […].
PYMNTS
JANUARY 24, 2018
The financial services industry is no stranger to innovation, but it increasingly appears that change in the space is being driven by outsiders instead of the financial heavyweights. For several years, upstart challengers, rather than traditional banks, have been pushing a wide range of tech-powered financial innovations aimed at addressing the needs of consumers and companies alike.
Bank Innovation
JANUARY 24, 2018
American Express is the “most-loved” financial service on social media in 2017, according to a recent report, followed by PayPal, Vanguard and bitcoin. NetBase examined 55 brands across sectors including banking, credit cards, investment banking, payment services, insurance, online lenders and crypto. To find out which brand was the consumer favorite, at least on social […].
PYMNTS
JANUARY 24, 2018
Call it agility. Or, in a more long-winded fashion, that nimbleness which brings together new and existing rails, melding legacy systems with new layers of functionality. Done right, such integration enables participants in the payments ecosystem to accommodate payment flows across mobile conduits, account-to-account, person-to-person, person-to-merchant and any number of permutations yet to even be realized.
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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
Bank Innovation
JANUARY 24, 2018
EXCLUSIVE— Mobile-only bank account Chime hopes to sign 100,000 new accounts on its platform by the end of January 2018, in keeping with the growth that has lead the banking service to open 750,000 accounts so far, the bank stated. Chime’s banking services, including its Visa-branded debit card, are provided by The Bancorp Bank. Chime, […].
PYMNTS
JANUARY 24, 2018
Bitcoin doesn’t necessarily have the blessing of government agencies, but what about blockchain? It seems governments are a bit more open to distributed ledger technology (DLT), though that doesn’t mean blockchain companies get a free pass with regulators. The U.S. Securities and Exchange Commission (SEC) recently made that clear with news this week that the agency would crack down on businesses using the blockchain name to boost shares, a recent phenomenon in the market hitting everything from
Bobsguide
JANUARY 24, 2018
Back by popular demand is the bobsguide ‘fintechs to watch’ series. To kick things off, in this article we list the eight blockchain-based fintechs we think will stand-out from the growing pack of start-ups and ICOs in the next 12 months. Blockchain, bitcoin and cryptocurrencies are.
PYMNTS
JANUARY 24, 2018
The U.K.’s new Open Banking rules, which enable FinTechs to branch into the mainstream banking industry, are being held up as big banks delay making the changes. According to news from Reuters , six of the nine banks that have to open up their data , so FinTechs can go after their customers with products and services, asked the regulator in the U.K for more time implementing the Open Banking rule.
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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.
Bobsguide
JANUARY 24, 2018
Understanding where data comes from or answering simple questions such as “who has modified this value and why?” remains a major challenge. It is widely accepted that data quality underpins an asset manager’s ability to operate its business efficiently whilst also.
PYMNTS
JANUARY 24, 2018
Ripple sold nearly $92 million of its XRP digital currency in the fourth quarter of 2017, according to news from CNBC. The company, which is developing a payments system for banks based on the blockchain, sold $91.6 million worth of XRP during the quarter, capitalizing on a 29,631 percent price surge in 2017. Over a year, trading volume jumped from $2.28 million a day in the fourth quarter of 2016 to $807 million during the fourth quarter of 2017 — an increase of more than 35,000 percent.
Payments Source
JANUARY 24, 2018
Bank of America Merrill Lynch has launched an application programming interface (API) gateway available to third-party fintech providers, as part of preparations for Europe’s PSD2 regulations that went into effect this month.
PYMNTS
JANUARY 24, 2018
Facebook is expanding its artificial intelligence pedigree by hiring an IBM executive. According to a report in CNBC , Jérôme Pesenti, who led the development of the Watson platform at IBM, will join Facebook as the vice president of AI. Pesenti was most recently at the European company BenevolentAI. Executives from Facebook’s Artificial Intelligence Research group ( FAIR ) and its Applied Machine Learning group will report to Pesenti.
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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 24, 2018
Developers of mobile point of sale solutions now have a path to build secure applications to support PIN entry on tablets and smartphones, following the Payment Card Industry Security Standards Council’s latest update.
PYMNTS
JANUARY 24, 2018
The freight industry has just seen its first transaction settled via cryptocurrency. Reports in Bloomberg on Tuesday (Jan. 23) said a transaction between a top Russian wheat shipper and Turkey was completed in bitcoin. The deal was part of the pilot testing of the blockchain-based payment system developed by Prime Shipping Foundation, which provides the logistics and freight market with a way to process payments and convert those transactions in and out of cryptocurrencies.
Payments Source
JANUARY 24, 2018
Now that bitcoin's market spike has made the alternative currency a household name, it's linked to wild market swings, bubble-level valuations and onerous fees, with the most obvious fixes likely furthering bitcoin's problems rather than solving them.
PYMNTS
JANUARY 24, 2018
Australia is the next jurisdiction to embrace payments speed, with the country preparing for the rollout of its New Payments Platform (NPP), a real-time payments infrastructure, in the coming months. Reports in OpenGov said Tuesday (Jan. 23) that Australia is expected to launch the NPP service in early 2018, about five years after the initiative was first announced by the Australian Payments Clearing Association.
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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.
BankNXT
JANUARY 24, 2018
All is fair in love and war, they say. Leda Glyptis suggests we do what it takes to make things happen – to turn innovation and ideas into reality. All’s fair in love and innovation on BankNXT.
PYMNTS
JANUARY 24, 2018
Prices are rising at Amazon. Monthly Prime membership costs went up a few days ago. Now, adding to the list, sellers in two of Amazon’s most popular categories will be facing some higher costs as well. According to reports from Chain Store Age , seller fees for several categories under the heading of apparel and accessories will be increasing. Going forward, Amazon will be getting a larger percentage of third-party sales, according to additional reports in Business Insider.
Payments Source
JANUARY 24, 2018
Digital channels likely to delight customers, but poorly performing websites are a major concern, especially as these sites come under heavier traffic loads, writes Mehdi Daoudi, CEO of Catchpoint.
PYMNTS
JANUARY 24, 2018
In response to potential competition from Amazon, French retailer Carrefour will invest in eCommerce, seek a partnership with Tencent and put a plan in place to trim its workforce, Reuters reported Tuesday (Jan. 23). After taking the helm in July 2017, Carrefour chief executive officer Alexandre Bompard is seeking to reinvent the company’s brick-and-mortar hypermarket business and expand its eCommerce operations.
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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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