Chris Skinner
OCTOBER 3, 2018
A new study of the 50 largest banking groups in the UK and Europe has revealed that although profits have increased, future profitability is at significant risk. The UK & European Banking Study (EBS), shows that banks are operating in unstable market conditions fuelled by unsustainable profit-taking, crisis level valuations … The post Research lays bare the banking issue appeared first on Chris Skinner's blog.
PYMNTS
OCTOBER 3, 2018
Crypto research site Diar claims that startups in the digital currency and blockchain space have notched roughly $3.9 billion in funding via venture capital (VC) investments, CoinDesk reported. The figure, which represents investments over the first, second and third quarters, marks a 280 percent jump from all of last year. In addition, the report noted that the average size of investments in the blockchain and crypto space rose by $1 million this year.
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Chris Skinner
OCTOBER 3, 2018
Things we’re reading today include … Race bias lawsuit against Morgan Stanley sent to private arbitration What a **checks notes** £1.2bn company looks like Fintech bolsters Bahrain resurgence as finance hub Watchdogs get a taste of their own medicine as regulators come under scrutiny Tech giants allied against proposed Australia … The post Things worth reading: 4th October 2018 appeared first on Chris Skinner's blog.
Bank Innovation
OCTOBER 3, 2018
Aside from the theoretical mention of blockchain technology, there haven’t been many major changes in cross-border money movement technology. And when you’re a company that’s more than 165 years old, trying to be innovative and fresh can be tricky, which is why cross-border money transfer company Western Union teamed up with the Denver, Colo.-based fintech […].
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
PYMNTS
OCTOBER 3, 2018
Coinbase , the cryptocurrency exchange operator, is nearing a deal that would give it a valuation of around $8 billion, reported Recode. The report, citing people familiar with the matter, reported that Coinbase is in discussions with Tiger Global and existing shareholders for an investment as high as $500 million. Some of the investment will be used to buy out some of its existing shareholders.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 3, 2018
For most people, absently swiping through an Instagram feed, or flipping a light switch, or going to a doctor’s office don’t register as important events. But for people with mobility issues, visual impairments or a host of medical concerns, those activities aren’t always simple, and can actually form huge quality of life roadblocks. For those customers, the advent of voice-controlled navigation aided by AI-powered voice assistants is about a lot more than adding convenience or fighting ir
Insights on Business
OCTOBER 3, 2018
IBM RegTech Innovations. Advances in artificial intelligence (AI), blockchain, and cybersecurity are poised to transform the financial services industries. These technologies bring capabilities that speed risk modeling, automate fraud detection, ensure regulatory compliance, enable distributed trust, and protect sensitive financial information. Mounting pressures on financial institutions to drive out costs, improve customer experience, complete with emerging players, and comply with new regulat
PYMNTS
OCTOBER 3, 2018
Blockchain trade finance consortium we.trade has grown with the addition of three new bank members, reports in CryptoNinjas said Tuesday (Oct. 2). UBS is joining the consortium, as are CaixaBank and Erste Group. The three were part of the former Batavia consortium, another group formed to explore blockchain in trade finance and management. The financial institutions (FIs) join we.trade’s existing bank partners HSBC, Deutsche Bank, Rabobank, Santander and others, now totaling 12.
Payments Source
OCTOBER 3, 2018
Banks and merchants are rapidly deploying chatbots for answering basic account questions, shopping and accessing the internet of things. But new data suggests consumers don’t fully trust chatbots yet with payment account details and personal information. Here’s a look at what consumers think of chatbots and why it matters.
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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
PYMNTS
OCTOBER 3, 2018
Google has acquired customer service automation startup Onward for an undisclosed sum. According to reports , Onward Co-founders Rémi Cossart and Pramod Thammaiah, as well as CTO Aaron Podolny, will be joining Google as part of the deal. “With Google, we’ll be able to expand the reach of the technologies that power Onward,” the company wrote in a blog post. “These core technologies are what got us excited in the first place, and we are excited to bring them to Google.
Payments Source
OCTOBER 3, 2018
Financial-crime risks, properly mitigated, are business opportunities. Fintechs that recognize this can gain a competitive advantage, according to Julie Myers Wood of Guidepost Solutions and Gemma Rogers of Fintrial LTD.
PYMNTS
OCTOBER 3, 2018
Amazon is now promoting its own products inside the listings of competitive brands. According to CNBC , some users searching for various products in beauty, health and household and baby items have reported seeing the link “Similar item from Our Brands” show up at the bottom of the listing. The link, which is not an advertisement, then takes shoppers to the product page for Amazon’s own private-label offering.
Bobsguide
OCTOBER 3, 2018
On demand clouds have created new business models and changed companies' IT strategies. For many applications and workloads there are alternatives which better suit the individual "use cases" Every few months, a study is published that examines to what.
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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
PYMNTS
OCTOBER 3, 2018
Unless you are a fan of paper cuts and ink smudges, take a moment to give it up for Spain. The country is the latest nation to help push B2B payments into the digital age. The developments come amid increasing regulatory focus around the globe on moving those transactions away from mistake- and fraud-prone analog processes. At stake? Hundreds of millions of dollars in savings, if not more, plus the potential for a more robust supply chain in certain areas.
Payments Source
OCTOBER 3, 2018
Gift card, reward points and payment information will continue to be exposed and available to whoever wants to purchase it. But it’s up to companies to implement security barriers that devalue this information, writes Don Duncan, security engineer for NuData Security.
PYMNTS
OCTOBER 3, 2018
Facebook’s Marketplace has gotten some new features on its two-year anniversary, with the enhancements being powered by artificial intelligence. According to a report citing Facebook, the social media network operator rolled out price range suggestions and auto-categorization features on the Marketplace to make it easier to sell things. With Facebook’s new tools, items will be categorized based on photos and description, and the site will then suggest a price range that sellers can c
Payments Source
OCTOBER 3, 2018
For merchants to reap the full benefits of the modern mobile payments ecosystem, their payments strategy can go beyond accepting a contactless tap-and-go card and encourage use of smartphone payments at the point of sale, writes Jason Oxman, CEO of the Electronic Transactions Association.
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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.
PYMNTS
OCTOBER 3, 2018
Foursquare has announced a $33 million round of equity funding co-led by strategic investors Simon Ventures and Naver Corp. and by Union Square Ventures. The first close of $25 million in venture funding happened last week, while the secondary close of at least $8 million is expected to close by the end of the year. “Each investor chose to participate because they believe in our business and our future,” Jeff Glueck, CEO of Foursquare, wrote in a blog post.
Payments Source
OCTOBER 3, 2018
An emerging VC model seeks to get in on new ideas early, before Series A or initial coin offering, offering coaching, money and other accelerants as close to the point of invention as possible.
PYMNTS
OCTOBER 3, 2018
NXP Semiconductors in late September introduced its latest NTAG DNA tag chip, providing privacy-enabled, multi-layered security for NFC and IoT authentication applications. In a late September press release , the semiconductor company said the NFC Forum-certified NTAG 424 DNA and NTAG 424 DNA TagTamper chips provide “cutting-edge” security and privacy features, making it possible to authenticate products and goods.
Payments Source
OCTOBER 3, 2018
For more than a year, the central bank has been under pressure to speed the development of a real-time payment system. But it faces tough questions about what its own role should be.
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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.
PYMNTS
OCTOBER 3, 2018
Google announced Wednesday (Oct. 3) that developers of Google Assistant can earn money via premium experiences for their users. In a blog post , Tarun Jain, group product manager for Actions on Google, said that while the company has offered support for digital goods and subscriptions and Google Sign-In for the Assistant , it is also giving it an overhaul on mobile phones, enabling developers to create more interactions. “While we’ve offered transactions for physical goods for some t
Payments Source
OCTOBER 3, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Apple embeds in college IDs; Alipay automates marriage records; PSD2 fintech directory expands; Bitmain invests in Bitcoin Cash wallet.
PYMNTS
OCTOBER 3, 2018
During the 2018 Minor League Baseball season, the Jacksonville Jumbo Shrimp drew an average of 5,000 fans to each of its games, and serving that crowd meant rallying Bragan Field at the Baseball Grounds’ army of ticket takers, ushers, concessions staff, merchandise vendors and more. Until recently, compensating those part-time employees meant handing out paper checks twice a month.
Payments Source
OCTOBER 3, 2018
Visa is working with the on-demand delivery network Postmates to deliver real time payments through Stripe’s Instant Payouts feature, running on its push payment platform, Visa Direct.
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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.
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