Bank Innovation
OCTOBER 30, 2019
Ally Bank just closed out a personal finance experiment using storied board game Monopoly as a launch pad for financial literacy. Earlier this month, Ally Bank launched the Ally + Monopoly game, which allowed customers and potential clients to engage with the brand through a digital version of the popular board game. The move aligns […].
Chris Skinner
OCTOBER 30, 2019
I’ve a number of great friends in the industry, and enjoy their company and contribution. One of those friends is Gijs Boudewijn, Chair of the Payment Systems Committee at the European Banking Federation who kindly quoted me in his recent presentation on Open Banking. He has also kindly allowed me to … The post PSD2, Open Banking and Beyond appeared first on Chris Skinner's blog.
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Bank Innovation
OCTOBER 30, 2019
Small business lending marketplace Become announced Tuesday that it raised $10 million in Series A capital to grow its platform. Benson Oak Ventures and Magenta Venture led the round, while RIO Ventures Holdings, iAngels and Entrée Capital participated. Viola Credit provided an extra $2.5 million in debt. Eden Amirav, Become CEO and co-founder, told Bank […].
Chris Skinner
OCTOBER 30, 2019
Things we’re reading today include … Rise of machine trading forces data providers to pivot Federal Reserve cuts rates again amid trade and growth fears Brexit deal means ‘£70bn hit to UK by 2029′ Citi to withdraw from two-thirds of FX platforms NatWest to offer help to gambling addicts in … The post Things worth reading: 31st October 2019 appeared first on Chris Skinner's blog.
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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
Accenture
OCTOBER 30, 2019
The old adage in carpentry is to measure twice and cut once. Scale your project to the size of a skyscraper and 90-degree corners and true horizontal planes are critical to enduring structural integrity. Perfectly plumb steel beams, for example, are what ensure maximum load-bearing capacity and even a slight misalignment can eventually weaken a…. The post Plumb, level and square: Check that you’re a digital bank appeared first on Accenture Banking Blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankBazaar
OCTOBER 30, 2019
Wondering what it takes to make the ideal personal finance checklist? As unique as everyone’s finance needs are, here are 5 things you should have in your checklist. Are you the kind that makes financial resolutions at the beginning of every year but somehow loses interest mid-way? You’re not alone. Many of us aspire to be better personal finance managers as we grow, but it’s easier said than done.
PYMNTS
OCTOBER 30, 2019
The upcoming holiday shopping season is expected to break records in online spending, a study by Adobe Analytics concluded on Tuesday (Oct. 29). Online shopping during November and December is anticipated to go up 14.1 percent over last year, reaching sales totaling $143.7 billion. The study tracked transactions for 80 of the top 100 U.S. internet retailers including Walmart and Amazon.
Jack Henry
OCTOBER 30, 2019
This card has the capability to redefine consumer expectations. Evaluation isn’t about going down a list, comparing traditional credit card features. The Apple Card’s worth lies within the digital experience, flexibility with payments, and immediate gratification. Nicely stated by Lisa Eadicicco of Business Insider, “The new credit card lives entirely in your iPhone’s Wallet app, allowing you to make purchases, view your transactions, and pay your balance directly from your mobile device.”.
PYMNTS
OCTOBER 30, 2019
Recurring payments company GoCardless and subscription commerce company Recurly have teamed up to give businesses access to the “first global network designed for recurring payments,” according to a release. Businesses will be able to collect recurring payments through bank debit and Recurly merchants will be able to attract customers from around the world, while reducing the fees charged by other payment methods.
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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
Payments Source
OCTOBER 30, 2019
Consumers needed payment platforms that could handle internet payments, and startups quickly filled the void, says Chief Outsiders' Mark Coronna.
PYMNTS
OCTOBER 30, 2019
Supermarket chain Kroger has started taking Visa credit cards again at all of its stores, according to reports. The company had previously banned the payment method at its Foods Co. and Smith’s Food and Drug stores, saying that Visa’s transaction fees were excessive and that they “drive up food prices for all customers.”. Kroger did not give a reason for the reverse in decision.
Payments Source
OCTOBER 30, 2019
The grocery giant reportedly has reversed its decision to bar Visa credit cards in its stores, demonstrating the limited effect of merchant bans in battling the payment networks.
PYMNTS
OCTOBER 30, 2019
Revolut for Business will now allow businesses registered in the U.K. to make a direct and secure connection into the Intuit QuickBooks Online accounting platform via Open Banking application programming interfaces (APIs). The collaboration — which marks the first time that Revolut has partnered with a third-party provider related to the new Open Banking government-mandated APIs — will allow business owners to get almost real-time updates on their payments, expenses and cash balances.
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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
OCTOBER 30, 2019
In launching a new international account for its business clients, Starling Bank is converting the bank's debit card to support payments in either pounds or euros.
PYMNTS
OCTOBER 30, 2019
As of late 2019, there are few people left who need to be talked into the “why” of instant payments — that case has already been well made. Ingo Money EVP and CPO Lisa McFarland told Karen Webster for the latest edition of the PYMNTS How To Instant Series that the conversation Ingo Money is having with potential partners, across all kinds of verticals, is not about pushing the merits of instant payments, and why organizations should be adopting them, because firms know that already.
Payments Source
OCTOBER 30, 2019
Amazon offers free delivery; Jumio develops new photo authentication; and other information you need to start your day, from PaymentsSource and around the web.
PYMNTS
OCTOBER 30, 2019
Germany’s Deutsche Bank reported a net loss below market expectations amid a restructuring plan that includes about 18,000 layoffs, The Wall Street Journal (WSJ) reported Wednesday (Oct. 30). The lender reported a net loss of $924 million (832 million euros) for the third quarter of 2019. This is the second quarterly loss for Deutsche Bank, which triggered a 7.9 percent drop in the closing share price.
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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.
Payments Source
OCTOBER 30, 2019
Dallas-based Dave & Buster’s will introduce self-service kiosks to sell customers game cards at the North American restaurant chain that combines dining with videogames and other entertainment.
PYMNTS
OCTOBER 30, 2019
When Blue Apron announces earnings tomorrow on Halloween, the current speculation is that it will be something of a scary experience for investors in the long-struggling meal kit company. Launched in 2012 and widely imitated in the U.S. and around the globe, the meal kit model was at first widely predicted to be the great disrupter for grocery stores created by eCommerce.
Payments Source
OCTOBER 30, 2019
While sophisticated computer algorithms are increasingly used in the fight against fraud, criminals are still exploiting various loopholes to access consumer card and bank details, particularly for those opening new accounts.
PYMNTS
OCTOBER 30, 2019
When field-based workers like truck drivers or cleaning service contractors encounter work-related expenses on the job, they might reconsider the purchase if they think there will be a delay in getting reimbursed. This could also result in delays for customers and negatively impact a company’s bottom line, which is why new expense management solutions are emerging at a rapid pace.
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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
OCTOBER 30, 2019
While the impact of the U.K.’s endemic late payments culture has captured the headlines over the past couple of years, there is arguably an even bigger problem afflicting the country’s merchant population — the threat of not being paid at all.
PYMNTS
OCTOBER 30, 2019
Apple is assembling suppliers to launch the company’s first 5G iPhones, the Nikkei Asian Review said on Wednesday (Oct. 30). The three new iPhone models will be powered by a Qualcomm 5G modem chip, sources familiar with the plan told Nikkei. Apple is hoping to recapture its position of tech stardom by revamping its product offerings in 2020, sources told Nikkei.
Payments Source
OCTOBER 30, 2019
Anticipating demand from internet of things and advanced smartphones, Fingerprint Cards AB has launched a new multi-biometric technology platform that combines iris screening with facial recognition.
PYMNTS
OCTOBER 30, 2019
Open banking jumped onto the financial services scene with a focus on enabling consumer-facing FinTech platforms to connect with their users’ bank account data. The model quickly gained traction and today is accelerating its expansion into B2B financial services, too. This trend was recently highlighted by Laura McGortey, BNY Mellon’s director of strategic partnership solutions.
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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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