Payments Dive
JANUARY 18, 2019
Fintech companies, mobile banks and others are granting waivers, extended payments and other services to help workers impacted by the government shutdown.
PYMNTS
JANUARY 18, 2019
There is no shortage of headlines about the partial government shutdown that is now on its 27th day, and no shortage of articles speculating how long it will go on, what will be affected and (most often) what it will take to finally bring it to an end. There is, yet, one simple takeaway from all of them: So far, there is no end in sight. While that can — and hopefully will — change any day now, the reality is that the longer the government remains partially closed for business, the longer 800,00
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Bank Innovation
JANUARY 18, 2019
Executives at the four big U.S. banks seem to be optimistic their technology and innovation investments will pay off in the long run, and fourth quarter earnings for 2018 suggest some are already seeing progress on finding efficiency. Asked during JPMorgan Chase's earnings call where the bank will find expense flexibility, CFO Marianne Lake said […].
PYMNTS
JANUARY 18, 2019
The rapid rise of smart cities promises to connect citizens with a wide range of municipal services. By some accounts , approximately 70 percent of the world’s population will reside in smart cities by 2050. Citizens in this type of environment will find a host of connected devices designed to enhance their daily routines, such as smart parking meters that help drivers find and pay for parking.
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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 18, 2019
Rewards and cashback programs, crucial growth tools for credit card businesses, have traditionally been based on what consumers buy. American Express Co. is turning to consumer-focused service apps for giving its customers more tailored rewards, according to the company’s earnings call yesterday evening. With the hyper-competitive rewards space starting to weigh on issuers' bottom lines -- […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 18, 2019
If you don’t have Snoop Dogg, what do you have? That’s what fintech startups other than Klarna must be thinking after the Swedish payments company announced this week it was bringing the rap icon onto its team as an investor. Snoop Dogg called it a “big project” for him as an investor and said it […].
PYMNTS
JANUARY 18, 2019
For certain sports fans, it’s one of best times of the year, a weeks-long period of anticipation, anxiety and hope. That’s because after a long fall, and after enduring what winter has thrown at us so far, the big day is approaching — Major League Baseball pitchers and catchers report to spring training in less than a month. Ha! Just kidding. The big sports news for the new few weeks is professional (U.S.) football, of course, and that means big news for payments and commerce as the Feb. 3 Supe
Bank Innovation
JANUARY 18, 2019
It’s karaoke Thursday in Silicon Valley, and the song that ought to be playing is Travie McCoy’s “Billionaire.” After all, the young people gathered at Fred’s Place, a dive bar not far from the Googleplex in Mountain View, California, were fabulously rich. But while McCoy sings of making a hypothetical fortune, this group was born […].
PYMNTS
JANUARY 18, 2019
Momo, a Vietnam-based FinTech company that provides users with digital payment options, has reportedly received a very large Series C investment from American private equity firm Warburg Pincus. The exact size of the investment isn’t being released, but Pham Thanh Duc, CEO of M-Service, which is Momo’s parent company, said the amount sets a new record for funding.
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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 18, 2019
The combined effects of Open Banking, the General Data Protection Regulation (GDPR) and developments within artificial intelligence could see banks offering life insurance. “The real challenge is synchronising banks’ data into the old and archaic insurance processes in the old.
PYMNTS
JANUARY 18, 2019
Fossil Group has announced that it is selling $40 million of intellectual property (IP) related to smartwatch technology to Google. As a result of the news, Fossil’s shares jumped about 8 percent on Thursday (January 17), according to CNBC. In recent years, smartwatches have become Fossil’s fastest growing category — it launched smartwatches across 14 of its owned and licensed brands.
Insights on Business
JANUARY 18, 2019
IBM Sales Performance Management (SPM) has once again been recognized as an industry leader in Gartner’s Magic Quadrant for Sales Performance Management 2019 , for its ability to execute and completeness of vision, for six consecutive times. How is IBM helping organizations improve sales performance? IBM SPM improves sales performance and operations with better incentive compensation plan management and smarter sales territories and quotas administration, which produces faster insights with adv
PYMNTS
JANUARY 18, 2019
New year, new reason to fear fraud — especially through digital means? A pair of studies have shown that companies are increasingly being targeted through methods both sophisticated and decidedly mundane. As reported late this week in Dark Reading , and as estimated by security research firm Agari , efforts are “ramping up” wherein criminals look to “divert payrolls” of senior executives.
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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 18, 2019
Mastercard is cracking down on merchants who bill consumers for unwanted subscriptions when a free trial offer ends — but by limiting the rule to physical goods, it's leaving a lot of potential consumer goodwill on the table.
PYMNTS
JANUARY 18, 2019
Microsoft is taking its digital assistant Cortana in a new direction as it has fallen behind Google Assistant and Alexa in the past year, according to reports. CEO Satya Nadella, while speaking to a group of journalists earlier this week, said that the hardware giant no longer views Cortana as a direct competitor to Alexa or Google Assistant. “Cortana needs to be that skill for anybody who’s a Microsoft 365 subscriber,” he said, in reference to Microsoft’s recent push for consumer subscriptions.
Bobsguide
JANUARY 18, 2019
The global payments landscape is changing. Digital transformation, new collaborative approaches between banks, fintechs and payments providers, and a changing regulatory environment are just some of the overarching themes impacting the sector. In association with Western Union Business.
PYMNTS
JANUARY 18, 2019
Dining out can be a jarring experience for customers used to the speed and convenience of mobile ordering. Increasingly, sit-down restaurants are looking to serve diners on a tight schedule by introducing mobile order- and pay-ahead services. The January Mobile Order-Ahead Tracker examines how table-service restaurants and quick-service restaurants (QSRs) alike are leveraging mobile ordering to better serve customers, as well as introducing new upgrades to keep their apps compelling.
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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.
Bobsguide
JANUARY 18, 2019
Last September, the UK's Citizens Advice Bureau (CAB) filed a super-complaint with the Competition and Markets Authority (CMA) calling for more to be done to tackle the ‘loyalty penalty’ being paid by longstanding customers in five markets: mobile phone contracts, broadband, cash.
PYMNTS
JANUARY 18, 2019
With more than $65 million placed with B2B FinTech firms this week, it wasn’t the most lucrative roundup for the industry. Yet, venture capitalists revealed revamped interest in the B2B eCommerce and procurement spheres, exploring technologies like blockchain to enhance supply chains and the buyer-supplier relationship. Below, PYMNTS rounds up the latest in B2B investments.
Payments Source
JANUARY 18, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Paytm extends restaurant ordering; Walmart adds to delivery service; Hong Kong residents want data sharing; Wirecard teams with Swatch.
PYMNTS
JANUARY 18, 2019
To help those impacted by the government shutdown, PayPal is offering interest-free cash advances up to $500 to federal employees who are new or existing PayPal Credit customers. The move comes as 800,000 workers find themselves without a paycheck, the company said in an announcement. PayPal President and CEO Dan Schulman wrote in a post , “With the average government employee taking home roughly $500 a week, many people were already struggling before the shutdown.
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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 18, 2019
Hackers pretending to screen a Chilean ATM network staffer for a new job instead slipped malware onto his work computer, leading to a broader attack.
PYMNTS
JANUARY 18, 2019
Amid less expensive destinations for kids’ online clothing and declining traffic in malls, Gymboree Group Inc. plans to close following its second bankruptcy. The retailer, which has just under 950 locations, filed for protection from creditors in the U.S. Bankruptcy Court for the Eastern District of Virginia, Bloomberg reported. Gymboree Group CEO Shaz Kahng said in a press release , “the company has worked diligently in recent months to explore options for Gymboree Group and its brands, and w
Payments Source
JANUARY 18, 2019
Even though American Express received pre-approval to provide transaction settlement services in China more than a year ago, it is playing the waiting game to get those wheels in motion amid a fiery political climate.
PYMNTS
JANUARY 18, 2019
Cash is a general no-go in prison , with inmates required to use funds and wages deposited into accounts to pay for commissary items. Prisoners also can resort to de-facto forms of currency that typically include postage stamps and packs of ramen or fish (desired because of their relatively high protein counts, especially useful for weightlifters). Cigarettes are on their way out — tobacco bans in prison have reportedly severely reduced the use of those items for trade.
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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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