Bank Innovation
JUNE 6, 2018
PREMIUM -- This past spring, Mastercard debuted a voice-assisted ordering and payment service at Pizza Hut in Singapore with the help of Softbank’s robotics division. But an application programming interface (API) that would allow for any developer to build a Mastercard "conversational" payments application remains in development. The payments network is working on the API now, but […].
Chris Skinner
JUNE 6, 2018
Another day talking culture, leadership and change for digital, and a fascinating review of the five things banks mess up when considering partnering. This presentation was from the Chief Digital Officer (CDO) of a major European bank. The presentation was titled How not to screw up my next partnership – … The post Are you changing the bank or just sucking-up to the CEO?
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Payments Dive
JUNE 6, 2018
A new survey commissioned by Transaction Network Services explores attitudes among US, UK and Australian adults to the use of new technology when making payments at unattended terminals. Find out how many use wearables and digital wallets at unattended POS terminals, such as kiosks, vending machines, meters and more.
Bank Innovation
JUNE 6, 2018
PREMIUM -- Digital payments are on the rise across the globe. In the U.S., the world’s largest economy, the use of mobile payments has increased significantly in the past two years. Add to that mix the prevalence of e-commerce and, the growing popularity of P2P apps, such as Venmo and Zelle, as well as digital banking. […].
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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
Chris Skinner
JUNE 6, 2018
Things we’re reading today include … Ex-Anglo Irish Bank chief convicted of fraud Wells Fargo isn’t the only bank with fake accounts, regulators say Buffett, Dimon say quarterly profit forecasts harming economy: WSJ TSB says 1,300 people lost money through fraud since IT meltdown – as it happened The world’s … The post Things worth reading: 7th June 2018 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JUNE 6, 2018
IHOP is dead. Long live IHOb. As of this morning (June 6), the news came over the wires and rendered today as “a day that will live in infamy.” It is the day that the International House of Pancakes was no more. Instead, it will IHOb. What is the B? We don’t know. Only the executive team of IHOP knows — and they are not saying anything until Monday.
Payments Source
JUNE 6, 2018
Circle Internet Financial Ltd., one of the world’s most valuable cryptocurrency platforms, is looking to make a big leap into the highly regulated realm of U.S. banks and brokerages.
PYMNTS
JUNE 6, 2018
In the first service offered by Mastercard after integrating Vocalink last year, and with an eye on real-time payments, Mastercard Send is launching in the United Kingdom. Mastercard said in a release on Wednesday (June 6) that the payments service will make it possible for various stakeholders in the financial realm — ranging from financial institutions, digital customers, FinTech companies and various enterprises — to send real-time payments to U.K.
Payments Source
JUNE 6, 2018
Innovations such as automated smart safes can make it easier to track the flow of paper money, reducing theft risk, and cut down on the number of armored truck pickups, according to Sam Bosch, president and CEO of Peregrin Financial Technologies.
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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
JUNE 6, 2018
Everyone has heard of storing data in the cloud, but what about in the briny depths? On Wednesday (June 6), Microsoft lowered a submarine-like data center into the ocean off the coast of Orkney — a group of islands near Scotland — as part of its efforts to boost internet speeds in coastal regions and support the world’s growing reliance on connected technologies, for both business and leisure purposes.
Payments Source
JUNE 6, 2018
Tencent Holdings Ltd. is working with the Chinese government to create an electronic pass system that smooths travel between Hong Kong, Macau and the southern province of Guangdong.
PYMNTS
JUNE 6, 2018
Alternative lending platform BlueVine has announced its latest investment to the tune of $60 million. A press release issued by the company said Menlo Ventures led the Series E equity funding round for BlueVine, which also saw backing from SVB Capital and other investors. BlueVine said it will use the funds to expand its invoice factoring and business line of credit products, as well as to explore new products for small- and medium-sized business (SMB) borrowers.
Payments Source
JUNE 6, 2018
Visa's management faces an unwelcome choice: It can share more information about internal shortcomings or mistakes that caused payments to shut off temporarily, or get summoned to Parliament for a politically-infused public questioning.
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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
JUNE 6, 2018
After reviewing sales practices at more than 40 large and mid-sized banks, the Office of the Comptroller of the Currency (OCC) found multiple systemic issues, along with hundreds of problems at individual banks. With the review, the office found examples of banks opening accounts without proof that consumers gave them permission to do so, American Banker reported.
Payments Source
JUNE 6, 2018
Google's mobile wallet has gone through several iterations, but the most recent — Google Pay — signals a significant turning point for the company's mobile wallet strategy.
PYMNTS
JUNE 6, 2018
“Beer speaks” may be the slogan for Lagunitas, but it’s Glasgow brewery Up Front that’s actually making its beer cans talk through an augmented reality (AR) campaign with local creative agency Freytag Anderson and visualization partner Render Studio. Three of the brewery’s offerings — Ishmael, an American IPA; Yojo, a Gose; and Ahab, an American Stout — feature black and white linocut images created by artist Stanley Donwood and inspired by Moby Dick.
Payments Source
JUNE 6, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Grab's development center; Patreon acquires Kit.com to add options for creators; Visa's outage gets political; Belgiium's federated ID picks up steam.
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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
JUNE 6, 2018
After a European Union report gave Alphabet a “negative result” and fine of up to $11 billion for abusing its power through its Android operating system, shares of the company fell by under 1 percent as reported on Wednesday (June 6). A ruling on the matter could come from the EU’s antitrust head, Margrethe Vestager, in a matter of weeks, CNBC reported.
Payments Source
JUNE 6, 2018
Students and their families are often not aware of how complicated the cross-border tuition process can be until they’re in the process, writes Steve Villegas, vice president of partner management for PPRO's U.S. headquarters.
PYMNTS
JUNE 6, 2018
For every innovation that changes the world, many … don’t. The difference between what works and what doesn’t is often measured in micrometers — not feet. The iPod changed the world; the Zune, on the other hand, was a punchline. When Shake Shack announced it was debuting a digital-only location , it seemed likely enough that it would work: Its clients are urban-based, largely millennial and demonstrably mobile order-ahead friendly.
Payments Source
JUNE 6, 2018
Mastercard is working with Starling Bank as its strategic partner to settle funds sent within the U.K. through its Mastercard Send service.
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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 6, 2018
Electric scooter-sharing startup Bird has authorized a new $200 million round of funding that bring its valuation to around $1 billion. In late May, it was reported that the company was trying to raise $150 million in a funding round led by Sequoia Capital. Citing a certificate of incorporation filed in Delaware, TechCrunch reported that Bird has authorized the sale of 31.5 million new shares in its financing round at a value of $6.15 per share, which if fully sold could net the startup as much
Bobsguide
JUNE 6, 2018
“I’m not a big fan of Brexit,” says Norris Koppel, CEO of Monese, on the sidelines of Money 20/20, in Amsterdam. “it flies in the face of financial inclusion. That’s why we hired the Brexit bus as a bit of a tongue in cheek mockery.
PYMNTS
JUNE 6, 2018
With the ongoing success of firms like Ulta and Sephora, perhaps it was only a matter of time before Amazon jumped in the game with an entrant of its own. And, if reports are accurate, Amazon may be looking to open up just such an independent beauty retailer all its own as soon as this month. Amazon, of course, already does beauty. There is a luxury shop on the marketplace — and has been since 2013 — and through it, some small brands have gained exposure.
Bobsguide
JUNE 6, 2018
In a presentation entitled ‘Banking on the CX factor’, Klarna CEO Sebastian Siemiatkowski spoke to a packed crowd under The Big Top at Money 20/20 EU, Amsterdam, today, taking the opportunity to open fire on the banks.
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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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