Chris Skinner
MAY 3, 2018
I’ve been watching the rollercoaster ride of cryptocurrencies very carefully for the last year, and it only struck me today that these are not currencies … yet. Apart from a few novelty vendors and merchants who put bitcoin on their websites, I don’t see many others accepting ether or XRP, … The post Cryptocurrencies are not currencies appeared first on Chris Skinner's blog.
Bank Innovation
MAY 3, 2018
The ways businesses, consumers, and even banks make payments are changing, as technologies like realtime payments and APIs make it easier to send money across the globe. But one technology seems curiously absent from recent payment innovation, and that’s blockchain. “We think blockchain technology will streamline payments, but in practice there are very few open […].
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Chris Skinner
MAY 3, 2018
Things we’re reading today include … People in Sweden barely use cash Goldman Sachs opens cryptocurrency trading desk Make Bank of America great again HSBC reports surprise pre-tax profit fall Commonwealth Bank board ‘asleep at the wheel’ during scandals, advocates say TSB tells customers: ask your local postman what your … The post Things worth reading: 4th May 2018 appeared first on Chris Skinner's blog.
Bank Innovation
MAY 3, 2018
Preparing for realtime payments has pushed U.S. banks to engage with APIs and open banking at a fundamental level. Just look at core service providers such as Fiserv or Finastra, which are providing banks with API-driven platforms to integrate into a realtime infrastructure. The use of these APIs, it turns out, has deeper implications for […].
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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 Dive
MAY 3, 2018
It's time for a look back at last month's most-read content on the site.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
MAY 3, 2018
From mom-and-pop retail shops to the world’s largest companies, nearly every business is looking to offer the latest technology to its consumers. For many in the financial services world, though, implementing innovations is easier said than done. So, what’s standing in the way of FIs, the largest of which come to the table armed with big budgets and endless resources?
Bobsguide
MAY 3, 2018
Whether you’re the chief information security officer (CISO) of a large enterprise with offices across the globe or the IT manager of a small enterprise, if you had a big budget, you would spend it on building and maintaining a security operations centre (SOC) to monitor every risk your.
PYMNTS
MAY 3, 2018
Its name is Hermyz. Its mission, which just won the official admiration of Visa , is to move small businesses away from checks and paper receipts by migrating invoice management online. Hermyz took the grand prize and the $10,000 that came with it at last weekend’s Small Business Hackathon, an inaugural event that took place in Washington, D.C., with the backing of Visa and the U.S.
Bobsguide
MAY 3, 2018
When faced with strict regulations and procedures, it can be hard to constantly innovate. It’s especially challenging in the financial services industry where we must develop innovative digital software solutions within an environment controlled by tight regulatory requirements, a desire to.
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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
MAY 3, 2018
Customer service matters in all walks of business, to consumers and businesses alike, but especially so in payments. Troubleshooting issues when they arise, or anticipating them before they happen, can make all the difference in ensuring transactions and other business processes flow smoothly and voluminously. In an interview with PYMNTS, Latiffa Sharpe, vice president of merchant services for First American Payment Systems , said that merchants, in establishing relationships with their payment
Payments Source
MAY 3, 2018
A new strain of malware that targets cryptocurrency users — but not users of mainstream payment options like bank accounts — highlights how much the cybercrime game is changing behind the scenes.
PYMNTS
MAY 3, 2018
After bringing in $1.7 billion from private investors, messaging app Telegram has called off its public initial coin offering (ICO). According to The Wall Street Journal , Telegram raised the money by selling newly created cryptocurrency to fewer than 200 private investors. The company will use the funds for a project, Telegram Open Network, which will expand its technology and further redevelop its messenger service, which has about 200 million users globally.
Payments Source
MAY 3, 2018
Although there's often a tension between regulation and innovation, the sandbox concept can help startups, regulators and incumbent banks better navigate experimental financial technologies.
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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
MAY 3, 2018
Whether it’s a full-time employee waiting for a regular paycheck, a gig worker expecting to be paid in short order or a borrower seeking a loan, payment frictions can be a roadblock to financial stability. And, if they aren’t cleared seamlessly, these hurdles can cause bills to be missed, expansion plans to be delayed and business relationships to crumble.
Payments Source
MAY 3, 2018
The spread of breached identity information has resulted in an outbreak of new account creation fraud with a new ground zero for the crimes pointing right at Latin America.
PYMNTS
MAY 3, 2018
SoundHound , a voice-enabled artificial intelligence (AI) and conversational intelligence technologies company, announced news on Thursday (May 3) that it has raised $100 million in new funding from a group of strategic investors. In a press release, the company said investors in the round of funding include Tencent Holdings, Daimler, Hyundai Motor Company, Midea Group and Orange.
Payments Source
MAY 3, 2018
Data breaches have become routine, but the public reaction to these events is changing. Consumers are increasingly wary of sharing their information — just ask Mark Zuckerberg — and this trend raises the stakes for all financial institutions and merchants.
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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.
PYMNTS
MAY 3, 2018
Amazon announced news on Thursday (May 3) of the availability of in-skill purchasing for Alexa skills in the U.S. While the service was announced back in November of 2017, it was only available to a handful of voice app developers before today. In a blog post , Jeff Blankenburg said developers can now make money by selling digital content that enhances an Alexa skill, such as game products, interactive stores and new features.
Payments Source
MAY 3, 2018
With $120 trillion in B2B payments made each year, making even a tiny change in how businesses pay each other could unlock incredible value for buyers, suppliers, and their financial institutions, writes Dean M. Leavitt, CEO of Boost Payment Systems.
PYMNTS
MAY 3, 2018
Cross-border small business payments company Veem is partnering with America’s Credit Union (ACU) to expand its reach to small business (SMB) customers. ACU will link its SMB clients to Veem’s global payment services, the companies said in a press release on Wednesday (May 2). In a statement, Veem VP of Business Development Olivier Veyrac said the collaboration will allow small business owners to send and receive money across borders “without the hassle and high fees most banks impose on small
Payments Source
MAY 3, 2018
Synchrony Financial designed its first voice assistant technology for Amazon Alexa around Amazon’s store card, serving as a template for the private-label card issuer’s other retail clients.
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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
MAY 3, 2018
Spring is here, and growth spurts are the rule of the day. Apple managed to notch bigger sales and revenue growth last quarter and has some great expectations for growth in its Services department. Regulatory footprints are also expanding — hopefully in such a way that will mean money laundering is shrinking. B2B eCommerce systems will soon be worth over a trillion dollars.
Payments Source
MAY 3, 2018
Samsung Pay has worked to differentiate itself from other mobile wallets with Samsung Rewards, and now it’s enriching that program with a cash-back option and the ability to purchase rewards points like airline mileage programs.
PYMNTS
MAY 3, 2018
Samsung Pay , the digital development unit of Samsung Electronics , said on Thursday (May 3) that it has added new shopping and rewards features to its mobile payment service. One of those features uses Bixby , Samsung’s intelligence platform, to enable Samsung Pay users to shop via their smartphone cameras. When consumers point their cameras at an object, Bixby Shopping identifies it and directs that shopper to an eCommerce site operated by a Samsung partner.
Payments Source
MAY 3, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: CBA cops to old breach; Ulster Bank's day off hurts mobile pay; Token benefits from PSD2; Ripple deepens its relationship with Standard Chartered.
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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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