Chris Skinner
JULY 20, 2018
A common response to technology is to test it. The problem with testing technology is that it is just a test. A false implementation. It is not designed for reality and can lead to false results. For example, I remember one UK bank testing new technologies in one branch, to … The post The danger of the technology testing hole appeared first on Chris Skinner's blog.
Bank Innovation
JULY 20, 2018
A majority of U.S. business leaders (owners, managers, and executives) prefer using digital banking, and yet less than half of them have plans of increasing their use of online banking products and services, that’s according to a JPMorgan Chase survey. The survey, which was released last week, showed that the primary reason for businesses for […].
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Payments Dive
JULY 20, 2018
Host Will Hernandez discusses Zelle's massive success and new verification features with Lou Anne Alexander, group president of payments at Early Warning. ATM Marketplace Editor Suzanne Cluckey discusses mobile banking, World of Money, and mobile/ATM transactions.
Bank Innovation
JULY 20, 2018
Alliant Credit Union’s budget allocation for innovation is almost twice as high as the average bank of the same size. Most banks won’t readily share exactly what they spend on innovation, but Alliant Credit Union has offered up that 15% of their expense base is allocated to innovation. Although credit unions aren’t required to publicly […].
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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
JULY 20, 2018
Host Will Hernandez discusses Zelle's massive success and new verification features with Lou Anne Alexander, group president of payments at Early Warning. ATM Marketplace Editor Suzanne Cluckey discusses mobile banking, World of Money, and mobile/ATM transactions.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 20, 2018
Tilray , the first cannabis company to conduct an initial public offering on a U.S. exchange, closed up 32 percent. According to Financial Times reporting, Tilray’s shares sold for a listing price of $17, higher than the original indicated range of $14 to $16 a share. The IPO raised $153 million. And at $22.39 at the close of trading on Thursday (July 19), the company had a market value of nearly $2 billion.
Insights on Business
JULY 20, 2018
IBM RegTech Innovations. When IBM acquired OpenPages in 2010, it was widely recognized as a pioneer and market leader in governance, risk and compliance software. Initially founded in 2002 to address the opportunity created by the Sarbanes Oxley Act, OpenPages’ client adoption was so strong over the coming years that by 2005, OpenPages was ranked 29 th on the Inc. 500 list of the fastest-growing private companies in the country.
PYMNTS
JULY 20, 2018
The U.S. Federal Bureau of Investigation released a public service announcement this week warning that business email compromise (BEC) scams are on the rise. The total value of funds redirected as a result of a BEC scam has now topped $12 billion, the FBI said, updating previous warnings of the scam and including data up to May 2018. Between December 2016 and last May there was a 136 percent increase in BEC scam losses across the globe, the FBI said, and instances of the crime have been reported
Payments Source
JULY 20, 2018
Starbucks achieved rapid adoption of its mobile card app by building it on top of the highly successful Starbucks closed-loop gift card. Such a model could also apply to the cannabis market, which is largely shunned by mainstream banks and card networks.
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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
JULY 20, 2018
Amazon is launching a new feature that allows users to search for home improvement parts with ease. The eCommerce giant’s “Part Finder” enables users to simply point their smartphone camera at an item they need, and Amazon will scan it, measure it, and find matching items from its product catalog. The company didn’t officially announce the feature’s launch, but confirmed to news outlets it was rolled out a couple of weeks ago.
Bobsguide
JULY 20, 2018
We are nearly at the edge of a new decade, and as we approach it, developments that once left like science fiction are widely considered part of our everyday lives. Video calls, smart phones, the end of physical money that every day draws closer as cryptocurrencies and digital transfers grow in.
PYMNTS
JULY 20, 2018
Investors placed more than $136.5 million with B2B startups this past week, and while investment targets were diverse (including B2B eCommerce and small business lending), the bulk of the funding landed at companies focused on enhancing businesses’ ability to assess their performance. Business intelligence is a common theme in this week’s B2B venture capital (VC) roundup, with many startups deploying artificial intelligence (AI) and sophisticated data analytics technologies for their
Bobsguide
JULY 20, 2018
Without doubt, banks have come to the realization that a technology-driven strategy is essential for operational efficiency. Most of the industry’s giants went digital long ago in terms of the user experience with apps and portals. That’s crucial for their UX – in terms of how.
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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
JULY 20, 2018
Due to possible concerns over the storage of user data and other issues, the Indian government is delaying Facebook ’s planned nationwide launch of the WhatsApp payment service in the country. The Ministry of Electronics and Information Technology (MeitY) has reportedly asked WhatsApp, along with partner banks, to provide additional details about the system, Bloomberg reported.
Bobsguide
JULY 20, 2018
Competition has ramped up around ‘banking abroad’ with retail banks - challenger and legacy - vying for the shoparound holidaymaker, most open to trialling new and different financial services for their holidays if it saves them from those hidden fees. For years, the lack of.
PYMNTS
JULY 20, 2018
Looking to bolster its international eCommerce presence, eBay has acquired Japanese eCommerce platform Qoo10, according to a regulatory filing. In its 10-K filing with the Securities and Exchange Commission (SEC), eBay said it completed the acquisition of Giosis Pte. Ltd.’s Japan business, which includes the Qoo10 platform, for $306 million in cash, and relinquished its existing equity method in Giosis.
Payments Source
JULY 20, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Hong Kong embraces open banking; Mastercard gets a environmental nod; A bot to fight crime; Contactless donations helps the homeless.
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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
JULY 20, 2018
Amazon didn’t have enough servers to handle the demand on Prime Day, prompting it to run a front page that was scaled back. CNBC , citing internal documents it obtained, reported that it was forced to temporarily shutdown international access to the site. The internal documents also suggest Amazon ‘s auto-scaling feature didn’t work properly ahead of the crash, given that Amazon was forced to manually add servers.
Payments Source
JULY 20, 2018
With the advent of the quantum computing, current encryption algorithms stand to be broken, and all of our data could be vulnerable as a result, writes Malte Pollmann, CEO of Utimaco.
PYMNTS
JULY 20, 2018
Sydney, the most populous city in Australia, is also a burgeoning FinTech hub: In fact, Deloitte has ranked it as the eighth most conducive hub for growth in the FinTech sector. The city also has a deep financial talent pool, “robust” wealth management and a high rate of mobile use, the firm noted. As such, startups such as Stake , which offers a way for investors to trade U.S. stocks, call the city home.
Payments Source
JULY 20, 2018
The commercial that shows a landlord using Apple Pay Cash and iMessage to pry rent out of a tenant is meant to elicit a chuckle, but it also shows how P2P providers must aggressively communicate the capabilities of their apps.
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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
JULY 20, 2018
Krispy Kreme Doughnuts is close to a deal to acquire Insomnia Cookies. Sources said the deal, which values Insomnia Cookies at less than $500 million, could be announced within the next few weeks, according to CNBC. It would also help to expand the coffee and restaurant empire that European investment firm JAB Holding has been putting together. JAB acquired Krispy Kreme in 2016 for $1.35 billion.
Payments Source
JULY 20, 2018
Canadian cardholders are holding back from applying for travel rewards-linked credit cards while they wait for the fallout from Air Canada’s decision to withdraw from the Aeroplan coalition loyalty scheme.
PYMNTS
JULY 20, 2018
Sizzle. Amazon’s Prime Day for Prime: Estimates are that the commerce juggernaut brought in $4 billion in Prime Day sales (according to Wedbush), up 33 percent from last year. Not a bad haul, considering the company had been initially been reported to be off to a shaky start. Digital dashboards – literally: Amazon partners with Hyundai in an effort to bring all phases of car shopping into the realm of bits and bytes … amid the offerings is transparent pricing, which could alleviate the dreaded c
Payments Source
JULY 20, 2018
Merchant acquirers have moved mountains to embrace software and e-commerce over the old model of selling point of sale hardware, but there are signs that transformation is not enough to please investors.
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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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