Chris Skinner

APRIL 24, 2019

I’m not a particularly political person. Opinionated yes. A little bit right and little bit left, maybe. Not necessarily a centrist, true. And I try to avoid writing about politically motivated movements on this blog, except when they impact the banking industry. And today is one of those days. Continuing … The post Doing bad for society and the planet (an Earth Day banking update) appeared first on Chris Skinner's blog.

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Industry Case Study Study 307

PYMNTS

APRIL 24, 2019

Petroleum exploration company PTT Exploration and Production (PTTEP), Thailand’s largest corporation, is collaborating with blockchain firm Ripple to integrate its technology for cross-border transactions. Reports in Ripple Coin News on Tuesday (April 23) said PTTEP and Siam Commercial Bank (SCB) are joining Ripple to accelerate cross-border transactions for PTTEP.

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Payments blockchain Technology Report 219

Bank Innovation

APRIL 24, 2019

Zelle, the P2P payments service run by Early Warning Services LLC, reported $39 billion in transaction value for the first quarter of 2019, representing a 54% year-over-year increase in payment value and a 72% YOY increase in payment volume, through 147 million transactions across its network — both all-time quarterly highs for Zelle. “This past […].

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Report Payments America Retail 170

PYMNTS

APRIL 24, 2019

Wirecard , the German financial company, and Japan’s SoftBank Group announced Wednesday (April 24) a deal in which SoftBank will invest about EUR 900 million in Wirecard. In a press release , the companies said the investment will come via a convertible bond mechanism. On Tuesday (April 23) Bloomberg reported a deal between the two was imminent. Wirecard said under the deal it will issue convertible bonds to SoftBank with terms of five years.

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Lending Analytics Innovation Meeting 197

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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

Bank Innovation

APRIL 24, 2019

WASHINGTON, D.C. — U.S. Secretary of the Treasury Steven Mnuchin said today that he prefers private over government solutions when it comes to collecting and using consumer data for financial products and services, speaking at a fintech conference hosted here by the FDIC. Data aggregation — and getting consumers comfortable with allowing companies to access […].

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Data FDIC Washington Conference 170

Payments Source

APRIL 24, 2019

Silicon Valley, New York, London and several of China’s largest cities are the world’s leading fintech hubs, but many other locales are gunning for their crown.

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Fintech New York Capital Regulation 158

PYMNTS

APRIL 24, 2019

April is Financial Literacy Month , a congressionally-backed effort to educate Americans about healthy financial practices and habits. Consumers tend to overestimate their financial literacy, according to a survey by research provider Raddon ; 44 percent said they were “very” or “extremely” literate, but when given a financial quiz only 6 percent scored an “A.

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Study Cards Survey Groups 171

Payments Source

APRIL 24, 2019

Until significant steps are taken toward creating a seamless and intuitive experience, blockchain will fall short of its goals, as it is unable to communicate its value.

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blockchain cryptocurrency Payments 141

PYMNTS

APRIL 24, 2019

The news out of Chipotle feels a bit like déjà vu, as it’s a story we’ve all heard before. Reports have appeared all over social media, particularly via Reddit and Twitter , about Chipotle user accounts being pirated, with hundreds of dollars’ worth of food ordered to customer cards that those customers never saw. In many cases, according to reports, the delivery addresses on the fraudulent orders were to states different from the home addresses on the accounts.

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Trends Tools social media Data 169

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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

Report

Payments Source

APRIL 24, 2019

Javier Pérez-Tasso has been named the new CEO of payments messaging standards provider Swift, replacing Gottfried Leibbrandt, who steps down from the post at the end of June.

Payments 115

Payments 115

PYMNTS

APRIL 24, 2019

The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a payment messaging firm, has chosen Javier Pérez-Tasso as its new chief executive officer, according to a press release. Pérez-Tasso has been part of SWIFT’s executive team for seven years, and he is currently the company’s chief executive of the Americas and U.K. region. He will begin his new assignment on July 1, replacing Gottfried Leibbrandt , who announced last December that he would be stepping down effective at the

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Leadership Regional America Community 169

Bobsguide

APRIL 24, 2019

Former RBS exec Caroline Rainbird named FSCS CEO. UK’s Financial Services Compensation Scheme (FSCS) has appointed Caroline Rainbird as its new CEO, effective of May 4. Rainbird brings with her over 30 years of experience, including senior positions at RBS between 2009 and 2017.

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PYMNTS

APRIL 24, 2019

It may seem like ancient history now — about four years ago, the idea that consumers, merchants, financial institutions (FIs) and payment service providers would rely on the selfie (that much maligned form of self-expression in the smartphone age) for digital security seemed silly. Attention-starved celebrities and people showing off on social media used selfies, not serious, reputable companies competing for market share in the digital economy.

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social media Security Data Online 156

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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

Bobsguide

APRIL 24, 2019

Front-to-back is this season’s new black. Accelerated by the rapid rise of alternatives, which presents new costs and challenges, buy-side firms are now seeing the benefits of multi-asset, end-to-end solutions. With increased volumes of data and the complexity of alternatives instruments, the.

Data 99

Data 99

PYMNTS

APRIL 24, 2019

Digital payment company Zelle sent $39 billion through its network on 147 million transactions during the first quarter of this year, the company said in a news release. Early Warning Services LLC, which is the network operator behind the company, announced the Q1 news on Wednesday (April 24). Payment values went up 54 percent year over year, and payment volume increased 72 percent.

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Payments Millennials Groups Company 154

Ron Shevelin

APRIL 24, 2019

In a world with direct deposit, why don't we get our money every day, right after we put in a hard day?

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How To 129

PYMNTS

APRIL 24, 2019

Grab , the Southeast Asia ride-hailing startup, is losing its Chief Technology Officer Theo Vassilakis, who said in a LinkedIn post that due to personal circumstance, he has to leave the region and spend most of the time in the south of China. In the post , the CTO said he will transition to an advisor role at Grab as of June 30. He will continue to lead the charge in technology and will assist Grab with its search for a new group CTO based in Southeast Asia. “Serving as a tech partner to

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Regional Course Technology Capital 153

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US

Payments Source

APRIL 24, 2019

With Wirecard's value tumbling since a Financial Times report two months ago alleging an accounting scandal in its Asian operations — and a followup Wednesday reporting that half of its revenue comes from "three opaque partner companies" — the German payments processor received a lift from a €900 million ($1 billion U.S.) investment from Japan's SoftBank.

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Operations Report Payments Company 85

PYMNTS

APRIL 24, 2019

McDonald’s is looking to make more money for its franchisees by renegotiating the terms of its exclusive delivery deal with Uber Eats, Bloomberg reported. The two companies recently met to lower the fees paid to the delivery giant. The terms will include “significantly reduced commission rates for all U.S. restaurants,” with the eventual ending of the deal that currently only allows for Uber Eats deliveries, with no other companies involved.

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National Branding Company Report 153

Payments Source

APRIL 24, 2019

The U.S. is already very late to the party when it comes to contactless payments. But even so, there are signs that many merchants still aren't prepared for an influx of contactless cards.

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Cards Payments Apple Retail 75

PYMNTS

APRIL 24, 2019

Small business financing platform BlueVine is teaming up with government procurement solutions portal GovQuote to connect government vendors with working capital solutions. A press release issued on Tuesday (April 23) said that GovQuote, which connects government agencies to potential contractors and vendors, is connecting those suppliers with BlueVine working capital financing to support their entrance and expansion in the public market.

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Capital Marketing Company Payments 148

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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

APRIL 24, 2019

Visa Inc. braved a stronger U.S. dollar and a decline in consumer confidence even as its customers’ spending overseas continued to slow during the first three months of the year.

Payments 71

Payments 71

PYMNTS

APRIL 24, 2019

The factoring industry is in need of a facelift. While the concept of selling unpaid invoices to someone who has the cash up-front has been around for centuries, modern-day financial services present companies with a slew of different options to access capital. Meanwhile, factoring has developed a reputation for lacking transparency, under-cutting businesses with high fees and using harassing collection tactics.

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Capital Industry Strategy Company 142

Payments Source

APRIL 24, 2019

NatWest has started a three-month testing period of a payment card using biometric fingerprint for authorization with 200 customers, saying it is the first such card issued by a U.K. bank.

Cards 70

Cards Payments 70

PYMNTS

APRIL 24, 2019

U.S. lawmakers continue to press for more affordable bankruptcy for small businesses, with Congress reintroducing the Small Business Reorganization Act earlier this month. Reports in The National Law Review on Tuesday (April 23) said proponents of the bipartisan bill remain optimistic about its eventual passage into law. The bill, first introduced last November and sponsored by Rep.

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North Carolina Conference National Retail 141

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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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