Bank Innovation
JANUARY 10, 2020
Thailand is laying the foundations for standalone digital banks as it strives to catch up with other Asian markets that are allowing such changes, according to its central bank governor. “At this stage, Thailand might not have the ecosystem ready like in Singapore or Hong Kong, where the digital banking system is in better shape,” […].
Payments Dive
JANUARY 10, 2020
Bátiz-Lazo, departmental chair in Business History and bank management at Bangor University, in Wales, discussed the importance of creating a competitive advantage.
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PYMNTS
JANUARY 10, 2020
China’s central bank, the People’s Bank of China (PBOC), said it has completed the “top-level” design of its proposed digital currency, according to reports. The PBOC released the information in a recently released paper, saying that the “top-level design, standard formulation, functional research and development” of the digital yuan coin has been completed.
Bank Innovation
JANUARY 10, 2020
Welcome to the latest episode of our Weekly Wrap video series, for the week ending Friday, January 10, 2019. In this episode, editors discuss the following news developments: Citi Ventures’ approach to product development through its internal innovation program D10X; CIT Bank’s bet on homeowners associations as a result of its acquisition of Mutual of […].
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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
Abrigo
JANUARY 10, 2020
Key Takeaways If you don't feel like your modeling results are relevant, then it might be time to ask different questions. Shift your ALM model from a static to a dynamic approach to find more value in your results. Strapped for time to implement these strategies? Consider leveraging valuable resources to help. If the primary goal of your asset/liability management (ALM) process is centered on meeting interest rate risk reporting requirements, then it’s likely that your institution views ALM as
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
JANUARY 10, 2020
With cloud technologies promising shorter time to market, more agile delivery and lower total cost of ownership (TCO), most banks are well underway with their journey to the cloud. As a result, most have some part of their technology estate in the cloud already and are working actively to expand this footprint further still. As…. The post Maximising the value in enterprise cloud adoption appeared first on Accenture Banking Blog.
PYMNTS
JANUARY 10, 2020
It wasn’t long ago that the measure of a car or truck revolved around such things as the punch and pull of the engine, the smoothness of the transmission, perhaps even the thump of the stereo system. Those days are not exactly gone (those types of drivers still exist, and probably always will), but the standards have certainly changed, and will continue to do so.
Payments Source
JANUARY 10, 2020
A strong economy in 2020 could lift the small-business card market, which is an important source of lending and payments for entrepreneurs and local merchants.
PYMNTS
JANUARY 10, 2020
To challenge hackers to find flaws in its vehicles, Tesla , the electric automaker, is returning to the Pwn2Own hacking competition run by Trend Micro ’s Zero Day Initiative (ZDI), electrek reported. Some Model 3 vehicles and approximately $1 million are said to be for the taking. “Driving off with a brand-new Model 3 will be a harder challenge this year, which means the potential rewards will be much higher as well,” ZDI said in a press release.
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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
JANUARY 10, 2020
Oklahoma lawmakers' decision last month to drop the state's surcharging ban was yet another signal that U.S. merchants have the final say in whether to apply extra charges to credit card transactions to offset interchange fees.
PYMNTS
JANUARY 10, 2020
Digital identity solutions are becoming increasingly necessary as the world’s population grows. An estimated 1.1 billion people worldwide lack basic ID credentials, according to the World Bank, and that number rises even higher when it includes individuals with poor-quality IDs that cannot be easily verified. Those without access to verifiable credentials are often restricted from obtaining vital services like education and healthcare.
Tom Groenfeldt
JANUARY 10, 2020
As financial services grow more complex — think information delivery to tellers, call centers, web sites and mobile phones while checking available balances, confirming identity and tapping silos of data to build a better customer experience — firms are automating quality assurance (QA) to keep up.
PYMNTS
JANUARY 10, 2020
The new year is still new, and those on the front lines battling cybercrimes and the hackers who work from the shadows might be exhausted already. For now, at least, tensions between the United States and Iran have been dialed down a bit, if only in terms of missiles and firepower. But there remains the specter that the battle might be joined on other fronts — the digital kind.
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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.
Jack Henry
JANUARY 10, 2020
The financial services industry seems to be transitioning into a new phase of technological advancement. The last 10 years have seen the beginning of a technological renaissance in many areas of the industry, affecting the way that both consumers and businesses interact with financial institutions. From payment services to lending and risk management, financial institutions continue to focus their resources on creating the best user experiences for clients and the most efficient workflows for em
PYMNTS
JANUARY 10, 2020
Amazon , during the height of the holiday shopping season, told its customers to uninstall Honey , a browser extension that automatically searches for coupon codes at checkout, according to a report by CNBC. Amazon said Honey could be a “security issue.” PayPal acquired Honey for $4 billion in November and finalized the deal Monday (Jan. 6). “Honey tracks your private shopping behavior, collects data like your order history and items saved, and can read or change any of your data on any website
Payments Source
JANUARY 10, 2020
Banks can remain competitive in a more crowded field by offering attractive rewards through easy-to-navigate, secure microsites, says Informa Financial Intelligence's Gina DeCorla.
PYMNTS
JANUARY 10, 2020
Few small businesses (SMBs) are immune to the risk of delayed and late payments. With payment terms an age-old practice in B2B trade, ensuring trust between a buyer and supplier is essential for small vendors that provide goods and services — in the hope that they will eventually be paid, preferably on time. Yet, the reality of delayed and late B2B payments is far from ideal: PYMNTS’ own research has found $3.1 trillion stuck in accounts receivable for U.S. businesses alone, with firms wil
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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
JANUARY 10, 2020
U.K. credit card lender NewDay, which issues co-branded cards for Amazon, Laura Ashley and Topshop, is expanding its technology offerings by acquiring installment lending platform Deko.
PYMNTS
JANUARY 10, 2020
The year is off to a less-than-stellar start for Kohl’s. The retail chain has yet to report its fourth-quarter or full-year 2019 earnings, but in a statement released this week (Jan. 9), Kohl’s said that its “comparable sales for fiscal November and December 2019 combined (the ‘holiday period’) decreased 0.2 percent over the same period last year.
American Banker
JANUARY 10, 2020
A seasoned investor in startups offers his top predictions for the coming decade. Among them: Big tech firms will become big players in financial services.
PYMNTS
JANUARY 10, 2020
SoftBank Chief Executive and Founder Masayoshi Son wants to invest in the building of a $34 billion smart capital in Indonesia that would focus on renewable resources, according to a report by Bloomberg. Son met with President Joko Widodo in Jakarta on Friday (Jan. 10) and said he wanted to be part of the project. This was the second time he has met with the president in the past six months.
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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
JANUARY 10, 2020
The recent explosion of online shopping tools pointing users to the lowest prices for items — particularly on Amazon — appears to be making the e-commerce giant nervous.
PYMNTS
JANUARY 10, 2020
The Consumer Finance Protection Bureau (CFPB) has filed lawsuits against several companies offering to forgive student loan debt for allegedly obtaining peoples’ data illegally, charging unlawful fees and engaging in “deceitful conduct,” an announcement said. According to the CFPB, Monster Loans violated the Fair Credit Reporting Act between 2015 and 2017, when it obtained information on millions of customers with student loan debt from a major credit bureau.
ATM Marketplace
JANUARY 10, 2020
Reimagining the in-branch customer experience has become an increasingly important challenge amid the rise of mobile banking an alternative payment options. Capital One's Andrew Winninger addresses how the company uses Capital One Cafes to engage with the local community, while maintaining a deep connection with local banking customers.
PYMNTS
JANUARY 10, 2020
Serving the needs of Americas millions of micro-merchants and mom-and-pop shops is one of those business plans that always sounds much easier in theory than it turns out to be in practice. The simple reason? Diversity. Other than being small, they’re a rather diffused group in terms of who they serve, what they sell, their scale of operation and a host of other factors that make it complex to find a common thread to serve.
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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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