Chris Skinner
JUNE 16, 2019
In my presentations I regularly talk about legacy Europe and America and leapfrog countries from China to India to Kenya to Colombia. The reason the latter countries are leapfrogging Europe and America is that they didn’t have a large, ingrained existing infrastructure for payments and financial transactions in place until … The post Are legacy companies holding back the future?
PYMNTS
JUNE 16, 2019
A computer science student scraped seven million Venmo transactions to warn users that their public activity can still be stolen. Dan Salmon said he scraped the transactions over the course of six months to prove to users that they need to set their Venmo payments to private. Venmo payments between users are set to public by default. The move comes a year after privacy researcher Hang Do Thi Duc downloaded 207 million Venmo transactions to prove a similar point.
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Chris Skinner
JUNE 16, 2019
Things we’re reading today include … Challengers under fire from Bank Bank of England says new lenders could be ill-prepared for downturns Deutsche Bank to set up 50 billion euro bad bank: FT The Bank of England’s biggest problem? The City of London Crypto is coming: get ready to spend … The post Things worth reading: 17th June 2019 appeared first on Chris Skinner's blog.
PYMNTS
JUNE 16, 2019
The legal retail cannabis industry keeps on growing, and further evidence of that reportedly comes from LeafLink. The eCommerce wholesale marketplace, according to The Motley Fool , said that “$1 billion in annualized orders are now moving through its platform.” The report goes also noted that “since launching in Colorado in 2016, privately held LeafLink has quickly gained traction.
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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
Payments Source
JUNE 16, 2019
As bots dominate new internet traffic, their ability to help crooks launch account attacks and exploit personal information has never been higher, says NuData Security's Robert Capps.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
JUNE 16, 2019
Cashierless stores have generated a lot of attention, but there’s a heavy lift to ensure the concept works outside of the relatively controlled environment of beta tests and proof-of-concept stores.
PYMNTS
JUNE 16, 2019
Facebook ’s GlobalCoin project has to overcome some big issues before its official launch. CoinDesk spoke to seven knowledgeable sources about GlobalCoin, also known as Project Libra, revealing that the project’s software has been delayed because of potential blockchain partners’ reluctance to work on something that doesn’t appear to be a true cryptocurrency.
The Financial Brand
JUNE 16, 2019
Much-awaited report from analyst Mary Meeker can help financial marketers climb aboard key internet evolutions while it still matters. The post 6 Financial Marketing Takeaways from the 2019 Internet Trends Report appeared first on The Financial Brand.
PYMNTS
JUNE 16, 2019
Nevada has passed regulatory sandbox legislation that aims to continue blockchain investment and development in the state. According to CoinDesk , Governor Steve Sisolak signed the following bills into law: SB161, which creates a regulatory sandbox for emerging tech companies through a program in the Department of Business and Industry; SB162, which develops a definition for “public blockchain” within Nevada Revised Statutes and requires government agencies to accept electronically certified doc
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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
The Paypers
JUNE 16, 2019
(The Paypers) UnionPay International has announced the introduction of the UPI wallet solution through its open platform, UPI Developer.
PYMNTS
JUNE 16, 2019
WESCO International has announced that WESCO Distribution has partnered with Silicon Valley-based startup Plug and Play to launch their newest accelerator, B2B Sales and Distribution. Pittsburgh-based WESCO joins as a founding anchor member in the accelerator, which will focus on industry-specific startups and their technologies. The company is a provider of electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturer (OEM) products, con
The Paypers
JUNE 16, 2019
(The Paypers) Wirecard and Crédit Agricole Payment Services (CAPS) have announced the next stages of their strategic partnership.
PYMNTS
JUNE 16, 2019
After rolling out only about two years ago, shopping social network Amazon Spark has reportedly recently left Amazon’s apps and the internet. The feature reportedly aimed to connect the gap between socializing and online shopping, Mashable reported. Through the service, users of Prime could put photos on a feed that was similar to Instagram that had a built-in click-to-purchase functionality.
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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.
The Paypers
JUNE 16, 2019
(The Paypers) Paytm has launched its AI-based router engine, which is aimed to help merchants streamline their payment success rates.
PYMNTS
JUNE 16, 2019
After the massive Equifax data breach , a federal watchdog is warning the government against relying on credit agencies to verify the identifies of individuals using its services. A report from the Government Accountability Office ( GAO ) said several government departments still rely on the three major credit agencies — Equifax, Experian and TransUnion — to verify a person’s identity before they can access their services online.
The Financial Brand
JUNE 16, 2019
Niche bank aims to serve digital entrepreneurs with high-tech, low-cost solutions that make banking bearable again. The post Tech-First Bank Has Zero Tolerance For Customer Pain Points appeared first on The Financial Brand.
PYMNTS
JUNE 16, 2019
New data showed that small business optimism rose 1.5 points to 105 in May, surpassing pre-shutdown levels. According to the National Federation of Independent Business ( NFIB ), six factors in the Small Business Optimism Index improved, three were unchanged, and one fell. Capital spending plans increased along with actual outlays, while expectations for sales, business conditions, and expansion all saw a boost.
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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.
The Financial Brand
JUNE 16, 2019
Megabank's effort may have been ahead of the curve, but that doesn't mean banks and credit unions shouldn't keep honing the digital idea. The post Why the End of Chase’s Finn is Not the End of Digital-Only Banking appeared first on The Financial Brand.
PYMNTS
JUNE 16, 2019
It wasn’t the best weekend for Target. The retail chain suffered through a register outage, but things apparently were getting back to normal as of Sunday evening (June 16). As well, there was no indication that the problem was due to hacking or a security breach. According to a report from CNBC , the chain’s customers on Sunday “reported issues checking out at stores across the country, after registers were down for nearly two hours Saturday due to a system outage that created long lines.
The Financial Brand
JUNE 16, 2019
The megabank's effort may have been ahead of the curve, but that doesn't mean banks and credit unions shouldn't keep honing the digital idea. The post Why the End of Chase’s Finn is Not the End of Digital-Only Banking appeared first on The Financial Brand.
PYMNTS
JUNE 16, 2019
B2B eCommerce platform Arzooo has raised $1 million (around Rs 6.95 crore) in a pre-Series A round of funding. The funding was led by the United Arab Emirates-based Jabbar Internet Group , which was once the parent company of Middle Eastern eCommerce platform Souq.com. Souq was acquired by Amazon in 2017. “Arzooo.com and its leadership team have understood the deep-rooted problems of the physical retailers limiting growth, against the backdrop of eCommerce today,” said Hussam Khoury, president o
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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.
PYMNTS
JUNE 16, 2019
After closing down more than a year ago, Shyp is preparing to roll out again. The company was once among the hottest upstarts in the on-demand space before shuttering in March of last year, according to reports. The company wrote in a Twitter post , “We are back! We’re hard at work to rebuild an unparalleled shipping experience. Before we begin operations again, we’d love to hear your feedback in this quick survey.
PYMNTS
JUNE 16, 2019
Despite the disappointing performance of both Uber and Lyft, the initial public offering (IPO) market remains strong. Three companies went public last week: cybersecurity firm CrowdStrike Holdings Inc. , online pet-supply retailer Chewy Inc. and freelance-services marketplace Fiverr International. Investors sent all of their shares soaring 50 percent or more.
PYMNTS
JUNE 16, 2019
In a study of Global Positioning System (GPS) technology, researchers found that loss of the service would have an impact of $1 billion per day per an approximate estimate. The National Institutes of Standards and Technology sponsored the study, which was performed by RTI International of North Carolina, Ars Technica reported. The study examined multiple variables to understand the effect that an outage would bring.
PYMNTS
JUNE 16, 2019
In a speech at Stanford University, Apple CEO Tim Cook said tech firms in Silicon Valley have to assume responsibility for “chaos” they create. The speech encompassed privacy violations and data breaches, among other topics, CNBC reported. Cook said, “We see it every day now with every data breach, every privacy violation, every blind eye turned to hate speech, fake news poisoning out national conversation, the false miracles in exchange for a single drop of your blood.
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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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