Chris Skinner

MARCH 4, 2020

Last week, MIT (Massachusetts Institute of Technology) issued their top ten technologies for the next decade, one of which is digital money: Unhackable internet Hyper-personalized medicine Digital money Anti-aging drugs AI-discovered molecules Satellite mega-constellations Quantum supremacy Tiny AI Differential privacy Climate change attribution This was selected due to Libra and … The post OK, but the end of cash must be in sight?

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Bank Innovation

MARCH 4, 2020

Embedded finance, or the concept of payments and banking being appended to other consumer use cases, is quickly evolving beyond retail and e-commerce, industry executives said at the Bank Innovation Ignite forum in Seattle this week. While automatic payments alongside Uber rides or “walk in, walk out” cashierless checkout transactions are often-cited examples of embedded […].

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Seattle Innovation Examples Retail 273

Chris Skinner

MARCH 4, 2020

Things we’re reading today include … Digital bank Starling to create 400 jobs in Cardiff Metro Bank ousts risk officer a fortnight after he joined ailing lender Michael Sherwood joins Revolut board Regulatory equivalence with EU could risk US deal China’s Ant Financial takes stake in Sweden’s Klarna Can the … The post Things worth reading: 5th March 2020 appeared first on Chris Skinner's blog.

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Bank Innovation

MARCH 4, 2020

Banks are beginning to recognize that they need to rethink customer experience, and they’re taking cues from startups to do so. Vendors who work with banks, including eGain and Backbase, said at Bank Innovation Ignite on Tuesday that their customers are increasingly taking a startup-inspired approach to the user experience. Vince Bezemer, head of strategy […].

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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

Lending

PYMNTS

MARCH 4, 2020

The enterprise resource planning ( ERP ) system has been a staple of corporate finance operations for years, acting as a central repository of data and a hub to initiate a range of processes, from accounting to procurement. But the ERP of today doesn’t look like it used to. Enterprise cloud migrations have opened up the ability for smaller businesses to adopt ERP technology once reserved for the largest corporates.

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Data Taxes Analytics Resources 260

PYMNTS

MARCH 4, 2020

Business to business (B2B) application programming interfaces (APIs) are helping smooth the flow of data between companies, including businesses and their financial services software as well as between banks and their corporate clients. The value of the technology is evidenced by the vast number of APIs that businesses use and consume. Companies each made an average of 363 APIs available publicly in 2018, for example.

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Fraud Examples Security Management 242

Payments Dive

MARCH 4, 2020

Pyramid Computer specializes in innovation and is looking to the future to stay on the cutting edge of technological advancements.

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Innovation Technology 248

Accenture

MARCH 4, 2020

There’s no denying that the payments space has changed a lot in recent years. Technological advancements, new competition, growing customer expectations and increasing regulatory obligations are all pushing established firms to embrace the new in many ways. We’re seeing new products, new ways of working and new strategies emerge at a rate that would have….

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Payments Strategy Technology Innovation 196

Bank Innovation

MARCH 4, 2020

Payitoff, a white-label platform that provides automated guidance on student loan repayment, won the 2020 Bank Innovation Ignite DEMOvation contest. With the win, Payitoff has been awarded an advertising package on Bank Innovation worth $10,000. Rodrigo Suarez, principal of INV Fintech, moderated the startup pitch competition. “We liked that the company was addressing a real, […].

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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

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Abrigo

MARCH 4, 2020

With more and more states approving the sale of cannabis, either marijuana or hemp, the risks involved with banking this industry has remained at the forefront of compliance officers’ minds. Providing traditional banking services to any higher risk businesses carries risks that your financial institution may not be ready to tackle. Banking cannabis-related businesses (CRBs) will increase your institution’s risk profile, and you can expect an increase in visits from your regulators.

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Policies Training Resources Regulation 195

Bank Innovation

MARCH 4, 2020

Banks are beginning to recognize that they need to rethink customer experience, and they’re taking cues from startups to do so. Vendors like eGain and Backbase, who work with banks, said at Bank Innovation Ignite on Tuesday that their customers are increasingly taking a startup-inspired approach to the user experience. Vince Bezemer, head of strategy […].

User Experience 195

User Experience Customer Experience Strategy Innovation 195

Abrigo

MARCH 4, 2020

With more and more states approving the sale of cannabis, either marijuana or hemp, the risks involved with banking this industry has remained at the forefront of compliance officers' minds. Providing traditional banking services to any higher risk businesses carries risks that must be considered when deciding whether or not to bank-specific customers.

Resources 195

Resources Policies Regulation Taxes 195

Bank Innovation

MARCH 4, 2020

SEATTLE — Embedded finance, or the concept of payments and banking being appended to other consumer use cases, is quickly evolving beyond retail and e-commerce, industry executives said at the Bank Innovation Ignite forum in Seattle this week. While automatic payments, alongside Uber rides or “walk in, walk out” cashierless checkout transactions, are often-cited examples […].

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Seattle Innovation Examples Retail 195

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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.

Lending

Payments Dive

MARCH 4, 2020

Pyramid Computer specializes in innovation and is looking to the future to stay on the cutting edge of technological advancements.

Innovation 221

Innovation Technology 221

PYMNTS

MARCH 4, 2020

After being down for a full day of trading on Monday (March 2), the Robinhood stock trading app restored service on Tuesday and emailed customers an explanation. “Our team has spent the last two days evaluating and addressing this issue. We worked as quickly as possible to restore service, but it took us a while. Too long. We now understand the cause of the outage was stress on our infrastructure — which struggled with unprecedented load.

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Payments Source

MARCH 4, 2020

The global efforts to contain the coronavirus outbreak are leading to drastic actions that test the limits of what consumers will accept when governments and other entities use their payment data.

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Data Payments Mobile 155

PYMNTS

MARCH 4, 2020

The digital transformation across any number of verticals — from retail to healthcare — has fostered a consumer mindset that demands deep engagement, speed and convenience. And while the headlines may focus on the battle for the individual consumer’s share of wallet, banks are facing an increasingly competitive environment when it comes to getting — and, of course, keeping — corporate clients.

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User Experience Data Fintech System 203

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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.

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Jack Henry

MARCH 4, 2020

With all the news play that security-related incidents receive, it may often feel like we are in a constant state of war against hackers. This thought is not that far off, as receiving a personal breach notification now seems like a rite of passage into adulthood. Though mitigation through various password complexities, virus and malware protections, and multifactor authorizations are important, they can also lead to a false sense of cybersecurity.

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Security 117

PYMNTS

MARCH 4, 2020

The coronavirus outbreak is crippling the $1.7 trillion tourism industry, the biggest setback for the travel sector in almost 20 years, according to reports on Wednesday (March 4). International tourism generated $1.7 trillion in revenue in 2018, according to the UN World Tourism Organization. Previous travel industry downturns were triggered by the 9/11 terrorist attacks in 2001, the SARS pandemic in 2002 and the Iraq war in 2003.

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Google Industry Software Meeting 188

Payments Source

MARCH 4, 2020

The financial services affiliate of Alibaba Group Holding Ltd has agreed to buy a minority stake in Klarna, and will expand its international partnership with the Swedish payments firm.

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Payments Groups 111

PYMNTS

MARCH 4, 2020

Clothing company J.Crew said an unknown hacker accessed some of its customers’ online accounts almost a year ago, according to reports. Although the attack occurred in 2019, the company only now revealed that an unknown number of customers had been affected by the attack. In a filing with the California attorney general on Tuesday (March 3), the company said the breach occurred in April of last year, and the attack focused on user information from online accounts, including card types, the

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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.

Compliance

Payments Source

MARCH 4, 2020

In spite of MGM’s quickly notifying hotel guests impacted by the breach in accordance with applicable state laws, it’s a clear concern that many of the contact details were still valid, particularly the phone numbers, says Shared Assessments' Tom Garrabba.

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PYMNTS

MARCH 4, 2020

On Sunday, the world will celebrate International Women’s Day for the 45 th time as a global community since the U.N. first declared the global observance in 1975. In 1977, the event was crystallized into an annual occurrence by decree – though technically, women’s rights has since split the bill with world peace on March 8. In advance of the holiday, Visa has released findings from its second annual State of Female Entrepreneurship report, which paints an interesting (if mixed) picture of its e

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Community Capital Leadership Training 181

CFPB Monitor

MARCH 4, 2020

Former CFPB Senior Counsel for Enforcement Strategy Chris Peterson, who is currently a Professor at the University of Utah S.J. Quinney College of Law, has announced his candidacy for Utah Governor. Chris also currently serves as the Financial Services Director and Senior Fellow of the Consumer Federation of America. Chris is the drafter of the Veterans and Consumers Fair Credit Act which has been introduced in the House (H.R. 5050) and Senate (S. 2833) and would impose a 36% national usury lim

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PYMNTS

MARCH 4, 2020

Kabbage , which works with business analytics, has launched a new program that promises to help small- to medium-sized businesses (SMBs) calculate and predict cash flow and help them identify cash surpluses and deficits, according to a press release. The new program, Kabbage Insights, aims to address “one of the most vexing problems faced by small business owners,” according to the release, and comes after the company’s other recent launch of Kabbage Payments , which also works with SMB cash flo

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Analytics Analysis Survey Data 169

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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.

Lending