Bank Innovation
JULY 25, 2018
Security firms have evolved their techniques to meet mounting threats on a digital front, as such banks must change too. At NICE Actimize, a cybersecurity and compliance firm established in 1999, Mary Ann Miller, senior director and fraud executive advisor, told Bank Innovation that within banks, departments have merged to better address threats. “Banks are […].
Chris Skinner
JULY 25, 2018
Things we’re reading today include … There are a couple of problems with Labour’s plan for the Bank of England Central bank independence is too precious to meddle with Metro Bank announces £302m share issue as profits quadruple PayPal quarterly profit beats estimates; forecast falls short Santander UK profits fall … The post Things worth reading: 26th July 2018 appeared first on Chris Skinner's blog.
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Bank Innovation
JULY 25, 2018
Behind every great technology is a human mind… well, obviously, right? That’s why FIs are always on the prowl for finding the most adept people that fit in with the institution’s digital philosophy. Whether it’s a chief innovation officer spearheading major initiatives like creating an AI-powered bot or engineers orchestrating smaller changes to enhance the […].
PYMNTS
JULY 25, 2018
If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be. The Federal Bureau of Investigation (FBI) recently issued a public service announcement warning that the BEC scam has now redirected $12 billion worldwide , much of that now having to be written off as a loss for corporates unable to recover the funds.
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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
Bobsguide
JULY 25, 2018
As with every trend, marketplace lending has evolved into different shapes and sizes, ranging from P2P lending platforms gaining banking licences to actually collaborating with established banks to enhance the offering of both. The regulatory environment around this is also evolving to better.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
JULY 25, 2018
Spurred by the PSD2 regulation, the introduction of open banking has also played a key role in a shift to software-delivered services, according to Jason Bobb, senior vice president of global sales and business development for Canonical.
PYMNTS
JULY 25, 2018
A CFO’s job doesn’t become more complex as a company grows simply because the business is spending more money. Increasingly, financial executives who start out tracking accounts payable (AP) volumes and chasing down coworkers’ expense reports will quickly find that the position demands a watchful eye on all aspects and categories of corporate spend — from travel and expenses (T&E) to procurement.
Bobsguide
JULY 25, 2018
The digital market in the Asia-Pacific region is growing at a remarkable rate. Several factors play into this, particularly a growing middle-class population throughout the region and widespread smartphone and internet penetration. In total, the value of the Asia-Pacific eCommerce market will.
PYMNTS
JULY 25, 2018
The move to bring blockchain beyond cryptocurrency confines — and toward more commercial use cases — continues, with far-flung projects making headlines. In the telecom world, South Korean firm KT said it has applied blockchain to its commercial network. The telecom, as reported by ZDNet , has built nodes that have brought blockchain to its national network, specifically its “ultra-fast” offering that is tied to processing speed.
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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
JULY 25, 2018
There are plenty of mobile payment services and solutions in the market. Luckily, systems tend to fall one of several key categories, so bobsguide has outlined each one to find the mobile payment technology that best suits the needs of your business. Contactless. Contactless payments is.
PYMNTS
JULY 25, 2018
Cabot Square Capital, a U.K. financial services firm, on Wednesday (July 25) sold its entire stake in 321 Crédito, a Portuguese consumer finance lender, to Banco CTT, the bank run by Portugal’s privatized national postal service. According to a report in Financial Times , the deal was worth more than €140m. With a specialty in car loans, 321 Crédit has been a Cabot Square Capital company since 2014.
Payments Source
JULY 25, 2018
Though it’s still early in the development of voice assistant technology, researchers are getting a sense of who’s most likely to use voice commands for shopping and payments.
PYMNTS
JULY 25, 2018
In life, context matters. Say “I love you,” and the tone of voice may give the context of — to quote Marvin Gaye’s lyrics — “What’s Goin’ On.” Are the words honeyed and romantic, whispered in the recipient’s ear while swaying on the dance floor on a date? Maybe dripping with sarcasm, and no slight tinge of venom, after driving around lost for four hours while the gas gauge is on empty?
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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
JULY 25, 2018
The outage that halted a portion of Visa payments in Europe was almost two months ago, but the card brand is still explaining what happened and attempting to isolate the incident.
PYMNTS
JULY 25, 2018
Shoppers wanting to find out where specific businesses are located and how long they are open can now just ask Alexa. The capability comes via a deal between Amazon and Yext , a company that deals in location data and associated services. “With this new relationship, consumers using Alexa for voice search can receive the most up-to-date facts about businesses — locations, contact information, hours of operation, and more — straight from the source: the business itself,” Yext said in a press rel
SWBC's LenderHub
JULY 25, 2018
As you may have heard, there’s a new tax that affects tax-exempt entities, including credit unions. In response to complaints from taxed corporations that tax-exempt organizations are enjoying preferential treatment, the 2017 Tax Act included a 21% excise tax on compensation exceeding $1 million paid to specific employees of tax-exempt organizations.
PYMNTS
JULY 25, 2018
Restaurants’ loyalty programs aim to turn one-time diners into a reliable base of regular customers. However, these rewards programs can turn into huge headaches for restaurants if not executed effectively. If the rewards are too generous, the program’s cost could eat up earnings. But if the rewards aren’t compelling enough, unredeemed points have to stay on company books and, worst of all, they’ll have failed to convert occasional patrons into dedicated customers.
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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
JULY 25, 2018
American Express' blockchain patent application isn't just about payments: It could also radically change how card-based merchant offers are made and allow them to become much more targeted.
PYMNTS
JULY 25, 2018
Justin Sun, the founder of blockchain operating system TRON (TRX), just finalized the acquisition of BitTorrent for $140 million, according to a report in The Next Web. The deal will effectively bring 100 million new users to TRON’s decentralized ecosystem. Speculation on such a deal first came up in May, when word surfaced that Sun was interested in buying the peer-to-peer (P2P) file-sharing platform and its architecture.
Payments Source
JULY 25, 2018
The information you need to start your day, from PaymentsSource and around the Web. Worldpay debuts its drone; Alipay's international merchant network gets larger; Singapore health system suffers a breach; U.K. regulators worry about payment monopoly.
PYMNTS
JULY 25, 2018
Oracle Financial Services recently announced the launch of a platform designed for corporate banking customers that are in need of consolidated, streamlined views of their global banking operations. The company announced Tuesday (July 24) that its Oracle Banking Virtual Account Management solution is now available to corporate banks. The solution aims to simplify banking for businesses with multiple bank accounts in multiple currencies.
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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
JULY 25, 2018
Consumers are already in shopping mode, so retailers that focus on personalized and targeted offerings, and promotional campaigns around Prime Day can all reap the rewards of the Prime Day halo effect, according to Tom Caporaso, CEO of Clarus Commerce.
PYMNTS
JULY 25, 2018
Contingent workforce management software provider PRO Unlimited is launching a mobile app for temporary staffing agencies to manage tasks for those employees. An announcement Tuesday (July 24) said PRO Unlimited is debuting the Wand Mobile Supplier app, linking suppliers of contingent talent with features like interview schedules, hire requests, expense reviews and candidate profile and resume management.
Payments Source
JULY 25, 2018
Dan Loeb’s big bet on PayPal Holdings Inc. is off to a rough start. The payments giant projected revenue below analysts’ estimates for this quarter and saw Venmo growth continue to slow, causing concern among Wall Street analysts that had been bullish on the app’s potential.
PYMNTS
JULY 25, 2018
Welcome to Five at Five, your late look at payments and commerce news of the day. Coverage includes Amazon signing on Yext to offer business info on Alexa devices, SWIFT will start testing a new multi-bank standard and the U.K. payments watchdog will review banks that process card payments for merchants. Also, Waymo will begin offering self-driving rides to Walmart customers in Arizona and Grubhub is acquiring LevelUp.
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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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