Bank Innovation
JANUARY 8, 2018
Sure, cryptocurrency and bitcoin might seem like the talk of the town, but a recent survey found that most people don’t even know what a digital currency is. According to a survey conducted by cryptocurrency platform COBINHOOD, only 56% of the 1,035 Americans surveyed knew that cryptocurrency is a digital decentralized currency designed as a […].
Chris Skinner
JANUARY 8, 2018
Banks need to make money on new products and services, from things that don’t exist yet, in the same way that children will need to find jobs that don’t exist yet. You may not have seen it, but it is estimated that two-thirds of the jobs of the future are … The post Future bank products are like jobs for your children appeared first on Chris Skinner's blog.
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Bank Innovation
JANUARY 8, 2018
EXCLUSIVE—Card company Dynamics Inc. revealed its Wallet Card, described by the company as the “world’s first” connected payment card, at the CES conference currently taking place in Las Vegas, the company announced today. The card, which was developed in tandem with global banks and payment providers such as Visa and Mastercard, relies on Internet of […].
PYMNTS
JANUARY 8, 2018
Jobs numbers were off to a rocky start for the year when new data from the U.S. Department of Labor revealed lower-than-expected jobs numbers for the month of December. But when it comes to small business (SMB) hiring, the numbers don’t always present a clear picture. In fact, the latest research on small business performance goes far beyond hiring stats.
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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 8, 2018
Card provider Visa has dropped WaveCrest, a company that issued cryptocurrency-linked debit cards, from its network. WaveCrest, which granted physical debit cards linked to cryptocurrency wallets to its users in Europe, violated Visa’s operating regulations, according to a statement the company gave to CNBC last week. WaveCrest, said Visa on the matter, “was required to […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 8, 2018
Indian fintech Nearby Technologies has partnered with one of the country’s largest private sector banks, YES Bank, to launch a cardless and PIN-less Aadhaar ATM service. Aadhaar is a unique 12 digit identification number based on biometrics given to each Indian resident. Last week, Nearby Technologies said that by using its PayNEARBY mobile application on […].
PYMNTS
JANUARY 8, 2018
As checkout processes become more automated and the point of sale moves to a mobile-first approach, the role of the retail clerk is also changing. Ringing up goods is giving way to customer service specialization and service offerings that digital retailers can’t match, according to a U.S. News and World Report. Best Buy employees are leaving stores and arriving on customers’ doorsteps to help them pick the right products for their homes.
Bank Innovation
JANUARY 8, 2018
Dutch bank ABN Amro is inviting customers to test out a set of contactless payment wearables, as stage two of a pilot it started last summer. The bank is inviting 500 of its customers into this trial. The range of wearables include a ring, watch, bracelet and a keyring. The first stage of trial was […].
PYMNTS
JANUARY 8, 2018
Small but mighty, German discount grocer Lidl — a brand known for not only its low prices, but also its innovative store layouts and private labels, including clothing — has already gobbled up 3 percent of local market share since the chain came to Winston-Salem, North Carolina, in June 2017. Lidl opened a total of 10 stores in North and South Carolina and Virginia on June 15 (one day before Amazon announced its $13.7 billion acquisition of organic grocer Whole Foods).
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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
Bobsguide
JANUARY 8, 2018
Jacco de Jong, Managing Director, essDOCS Consulting. The cost of compliance efforts for banks has increased exponentially in recent years. This is especially true for those banks that are active in the global trade finance domain, where the overwhelming expectation is for compliance.
PYMNTS
JANUARY 8, 2018
Costco had a very merry holiday season, with net sales up to $14.94 billion for the five-week period that ended Dec. 31. — a 14.3 percent increase from the $13.07 billion Costco was reporting the same time last year. Some of that success can be attributed to a little more time: December technically picked up an additional shopping day due to the New Year’s Day calendar shift.
Let's Talk Payments
JANUARY 8, 2018
Success in any industry, in financial services especially, is attributed to a combination of factors including economic conditions, federal support, regulatory environment, the role of the main stakeholders, and, of.
PYMNTS
JANUARY 8, 2018
In the wake of the retirement of Karen Katz as CEO of Neiman Marcus, the company has said she will be succeeded by Geoffroy van Raemdonck, who comes to the firm from Ralph Lauren. As reported by Chain Store Age , van Raemdonck was with Ralph Lauren in the capacity of group president for EMEA (Europe, Middle East and Africa) and global travel retail, and had been in charge of both digital and wholesale initiatives.
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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 8, 2018
Google is moving to corral its various mobile wallet concepts under a new umbrella—Google Pay—but it won’t be an overnight cure for the confusion many consumers and merchants are likely to experience as the new “G Pay” logo starts to appear.
PYMNTS
JANUARY 8, 2018
Holiday vacations are officially over, and the payments and commerce news cycle is back in high gear. Bitcoin turned nine, and was celebrated by seeing its price per coin exceed $20,000. Rumors circulated that FICO might be losing its monopoly in the mortgage market as the FHFA is considering allowing lenders to consider an alternative. China continued its crackdown on the cross-border exodus of funds, and the world got to meet the middleman and Forever 21 got hacked.
Let's Talk Payments
JANUARY 8, 2018
In an enlightening interview at Money20/20 Europe 2017, Vivek Bajaj, Global Vice President at Watson Financial Services Solutions, IBM, answers questions such as: What is the future of artificial intelligence.
PYMNTS
JANUARY 8, 2018
For the first time in years, Google had an official stand-alone booth at CES – a sign to buyers that it is ready to collaborate with both top brands and startups in the race for voice assistant dominance. “Google’s presence at CES is equally designed to reach not only consumers, but also developer ecosystems as well,” said research analyst Werner Goertz, as reported by The Washington Post.
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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 8, 2018
Visa did not attribute its shutdown to the use of bitcoin, but the incident is a further reminder — as if one was needed — that cryptocurrencies' volatility extends beyond their dramatic pricing swings.
PYMNTS
JANUARY 8, 2018
American Express Global Commercial Services (GCS) President Susan Sobbott will reportedly leave the position in February, according to reports in Business Travel News. The publication said an internal memo within American Express noted Sobbott will depart to pursue opportunities to become a CEO outside the company. She will leave on Feb. 1, the publication said, citing the memo written by American Express Global Corporate Services President Steve Squeri.
Payments Source
JANUARY 8, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Visa suspends WaveCrest cryptocurrency payments; Fintech investment in the U.K. jumps; U.K. regulator adds tech expert; Facebook considers blockchain; VC investment in cryptopayments.
PYMNTS
JANUARY 8, 2018
Some innovations are brilliant – and obviously so – from the start. Others take a little more convincing. Such was the story of the early founding days of WaiveCar , when founder Isaac Deutsch went to his neighbor and eventual business partner, Zoli Honig, with his brilliant idea. Deutsch wanted to give people “ Zipcar for free,” Honig explained to Karen Webster in a recent conversation.
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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 8, 2018
Integration is the future of business management. There’s an unlimited availability of powerful tools out there that make us wonder how we ever did business prior, writes Rob Nathan, an executive vice president at CardConnect.
PYMNTS
JANUARY 8, 2018
Is Domino’s among the stocks on Wall Street worth sinking one’s teeth into? Credit Suisse thinks so. The sell-side firm upgraded its rating on the company last week, stating that the stock should be a relative outperformer through the remainder of 2018. The rating went from neutral to outperform. Jason West, a Credit Suisse analyst, said in a note that the stock has lost about 12 percent of its value from recent highs (as quoted by CNBC.com ), and yet forward earnings should get a boost, in par
NCR
JANUARY 8, 2018
Recently, there’s been a lot written in the UK press about the future of the ATM in the country. With reports that some ATMs in the nation’s widespread Link network of free-to-use ATMs may be under threat due to changes in the fees charged by the operator. There have even been some suggestions that this potentially marks the beginning of the end for the ATM.
Payments Source
JANUARY 8, 2018
First it was Western Union Co. investors who got ripple fever. Now its stockholders of Seagate Technology Plc who are cashing in on speculation that the firm has ties to one of the hottest digital coins.
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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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