Chris Skinner

AUGUST 20, 2019

I saw a write-up in The Financial Times the other day on how Silicon Valley is eating the banker’s lunch. The article was written by Tom Braithwaite. Tom Braithwaite is the companies editor, managing the FT’s business coverage. Based in London, he was previously a Lex columnist in San Francisco. … The post Silicon Valley is eating the crumbs the banks’ left after lunch appeared first on Chris Skinner's blog.

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San Francisco Management Company Digital Banking 305

Payments Dive

AUGUST 20, 2019

With Facebook's announcement of its cryptocurrency Libra, cryptocurrency has gotten a lot more attention recently, and not all of it is positive, especially from U.S. lawmakers. Many are seeing cryptocurrencies like Libra as a national security issue.

cryptocurrency 247

cryptocurrency National Security 247

Bank Innovation

AUGUST 20, 2019

Cuentas, a Miami-based prepaid debit card company targeting Spanish-speaking populations, wants to turn convenience stores into financial hubs through Cuentas-branded debit cards and accounts. The cards, which will launch in early September, will be linked to an online bank account from Saturn Bank. Customers can the reload the cards at any SDI Next convenience store […].

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Miami Cards Branding Online 210

PYMNTS

AUGUST 20, 2019

The Apple Card, a credit card created in partnership by the technology company, was officially released in the U.S. on Tuesday (Aug. 20), the company said in a release. The company said the credit card is meant to help customers have a “healthier financial life,” and that interested customers can sign up for the card through the Wallet app on an iPhone. .

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Apple Cards US Security 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

Chris Skinner

AUGUST 20, 2019

Things we’re reading today include … Monzo customers to receive salaries a day early under new feature from app-only bank Bank branches could fall below 800 after cuts 300 in three years JPMorgan metals trader pleads guilty to spoofing, resigns from bank FDIC approves Volcker revamp, in latest move to … The post Things worth reading: 21st August 2019 appeared first on Chris Skinner's blog.

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FDIC 171

Bank Innovation

AUGUST 20, 2019

Oregon Community Credit Union (OCCU) has launched phase one of its digital platform, a move meant to “set the foundation” for the credit union’s new focus toward automation, Chris Whittaker, vice president of consumer lending, told sister publication Auto Finance News on Monday. The digital banking platform, called MyOCCU Online & Mobile, took “a good year-and-a-half” […].

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Oregon Community Lending Digital Banking 150

PYMNTS

AUGUST 20, 2019

European Union antitrust regulators announced that they are “currently investigating potential anti-competitive behavior” related to Facebook ’s Libra. According to Bloomberg , the EU authority said in a questionnaire released earlier this month that it has concerns that Libra could create “possible competition restrictions” on the information exchanged and the use of consumer data.

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social media Regulation cryptocurrency America 177

Accenture

AUGUST 20, 2019

Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks. Key themes. Receivables growth of 5 percent YoY, flat compared to last quarter, shows continued slowing of A/R growth. Purchase volume outpaced receivables growth for the first time in several quarters; rewards / high spend cardholders remain in focus for issuers.

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Cards US Capital Apple 150

PYMNTS

AUGUST 20, 2019

No rest for banks amid the hackers. And certainly not with an outsourced tech model. In the wake of the Capital One data breach that exposed data tied to 100 million individuals in the United States comes a warning that there really are not any places to hide. A quoted by Bloomberg , a senior official at the European Central Bank (ECB) has warned of the threats that come with embracing the digital age.

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Data Security Capital United States 176

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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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Payments Source

AUGUST 20, 2019

The mobile payment revolution has made mobile banking apps even more lucrative and attractive to crooks.

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Mobile Fraud Payments 132

PYMNTS

AUGUST 20, 2019

Among the biggest battlegrounds in retail is not only what amounts to a moving target — but a race involving the human voice. Moreover, now Amazon is reportedly trying to up its presence in this particular and growing area of commerce, a sign of the enormous stakes involved. The specific area in question is the emerging ecosystem of connected cars and trucks — along with the increasingly popular and even vital area of voice-activated commerce, where Amazon’s Alexa is engaged in fierce competitio

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System Report Payments Maine 171

Payments Source

AUGUST 20, 2019

In the age of e-commerce and the "Pays," redemptions will no longer be viewed primarily as an expense to be managed, but rather as a tool to create value through higher spending, brand engagement, and long-term loyalty, says Capco's Daniela Hawkins.

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Tools Branding Management Cards 88

PYMNTS

AUGUST 20, 2019

Blockchain is gaining traction in supply chain management, as evidenced by a series of announcements over the past several days. As reported in Bitnews Today , in Italy, several retail firms and food manufacturers are getting behind projects that will help trace the food supply chain, with an eye on transparency. The site said that consumers would be able to identify information on labels through the use of smartphones, where data will be tied to food origin and other factors.

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blockchain Software Retail Management 155

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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

CFPB Monitor

AUGUST 20, 2019

On August 14, 2019, Senate Banking Committee Ranking Member Sherrod Brown (D-Ohio) wrote a letter imploring Consumer Financial Protection Bureau Director Kathy Kraninger to implement the payments provisions of the 2017 Payday Rule by the scheduled August 19, 2019, compliance date, by requesting a lifting of the stay imposed by the Texas federal district court hearing the lawsuit challenging the Rule.

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Compliance Groups Ohio Texas 87

PYMNTS

AUGUST 20, 2019

It’s a story commonly heard from children – and a story that, in this case, led to a fresh idea for subscription commerce. As told to PYMNTS in a recent interview, the story involves the son of Gabriel Schlumberger, CEO of U.S.-based Fitz Frames , which makes and sells 3D-printed eyeglasses for children. Schlumberger’s own son wears glasses, and his son once told his teacher he could not play on the monkey bars during recess.

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Mobile Los Angeles Minneapolis Trends 153

Payments Source

AUGUST 20, 2019

As major U.S. cities continue to implement contactless tap-and-go acceptance to collect transit fares, at least one bank sees this trend as an opportunity to put its cards on center stage.

Trends 79

Trends Cards New York Mobile 79

PYMNTS

AUGUST 20, 2019

Apple Card, a new kind of credit card created by Apple, is being applauded by Mastercard for its enhanced security, simplicity, transparency and privacy, CNBC reported on Tuesday (Aug. 20). The new iPhone-integrated credit card has teamed with both Goldman Sachs and Mastercard. Customers can apply for the card through the iPhone Wallet app and immediately use it in stores, on websites and for in-app purchases.

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Apple Security Cards America 139

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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.

US

Payments Source

AUGUST 20, 2019

More U.S. states are legalizing sports gambling, providing a huge opportunity for payments companies that have been fattened by multi-billion dollar mergers.

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Payments Company Online Compliance 82

PYMNTS

AUGUST 20, 2019

Facebook is in talks with several FinTech companies in Indonesia about bringing mobile transaction services to the country through the WhatsApp chat app, according to a report by Reuters. The company, which recently made a similar foray into India but was delayed due to regulatory red tape involving local data storage rules, wants to tap into Indonesia’s fast-growing eCommerce economy.

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Payments Regulation Operations Fintech 137

Banking Exchange

AUGUST 20, 2019

In a set of finalists dominated by foreign banks, a few American financial institutions made the final cut Technology Feature3 Fintech Feature Management Financial Trends Human Resources Financial Research Retail Banking Customers Channels Performance.

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National Resources Innovation Trends 68

PYMNTS

AUGUST 20, 2019

The $1.6 trillion debt time bomb. The 21-year shackle. Bigger than credit card debt. Bigger than auto debt. Not bigger than mortgage debt – but then again, who can buy a house if you’re grappling with monthly student loan payments and if your retirement seems like a shimmering dream because you’re fighting with monthly student loan payments? Increasingly, companies across the U.S. are stepping in to help employees pay down their balances through benefits programs that can help borrowers shave

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Course Meeting Cards Examples 136

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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

AUGUST 20, 2019

The information you need to start your day, from PaymentsSource and around the Web. Today: How China's central bank currency could harm Alipay and WeChat Pay; Miami transit turns contactless; PayPal gets deeper into retail; Metal Pay draws investment.

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Miami Retail 68

PYMNTS

AUGUST 20, 2019

Texas Gov. Greg Abbott announced that Uber will receive $24 million from the state to establish a new U.S. General and Administrative Hub in Dallas. The project will create 3,000 new jobs and more than $75 million in capital investment. “I am proud to welcome Uber’s investment in the great state of Texas, along with the 3,000 jobs the company will bring to its new Dallas office,” Abbott said in a press release.

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Texas Dallas Regional Innovation 134

ATM Marketplace

AUGUST 20, 2019

Branch closures are usually triggered by reduced business or consumer traffic, but the decision is never quite that simple. Here are three events that prompt the decision.

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PYMNTS

AUGUST 20, 2019

Rewards and loyalty programs are becoming more and more popular among QSRs looking to encourage customers to make return visits so they can capture additional revenue. These programs can take many different forms, such as offering one free menu item after several other purchases, a points-based system that customers can mix and match for a variety of perks or a “surprise-and-delight” structure that randomizes rewards to periodically thrill customers with unexpected treats.

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Fraud Security Data Washington 134

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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