Abrigo

OCTOBER 21, 2019

A farmer, a university student, and a business owner walk into a bank. It sounds like the beginning of a joke, but for many community financial institutions, a spectrum of different customers and banking needs is something that they see every day. However, they’re probably seeing fewer of these customers walking into a physical branch. Today, 73% of all consumer interactions with financial institutions are done digitally , according to the 2019 FIS Performance Against Customer Expectations (PACE

Oklahoma 218

Oklahoma Millennials Innovation Technology 218

Bank Innovation

OCTOBER 21, 2019

N26, the digital-only banking brand based out of Berlin, began a staged rollout of its app in the U.S. earlier this summer before becoming widely available to American consumers in August. The brand launched in Europe in 2015 and has since gained 3.5 million customers in 25 countries, according to a company statement. Earlier this […].

Branding 186

Branding Company Innovation Strategies Strategy 186

Chris Skinner

OCTOBER 21, 2019

Banks are control freaks. I’ve blogged about that often. I’ve also blogged often about how they need to move to be open and partnering. That’s not easy. It’s obviously easier to launch a brand new bank, fresh with no legacy and open to everything, isn’t it? Not necessarily so. The … The post For Whom The Tweet Chimes: the problems of being cloud native and open appeared first on Chris Skinner's blog.

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Branding Case Study Study Digital Banking 185

Abrigo

OCTOBER 21, 2019

The following article was first published in ABA Banking Journal on October 17, 2019. Cybersecurity | 4 minute read Key Takeaways Third-party/vendor risk management is becoming increasingly challenging with more cloud-based providers. 6 key areas of due diligence to consider before signing a contract. On top of initial vendor due diligence, there are ongoing, systematic approaches to managing third-party relationships. .

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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

Lending

Chris Skinner

OCTOBER 21, 2019

Things we’re reading today include … Chinese vice foreign minister says progress made in trade talks with U.S Infosys starts probe into alleged ‘unethical practices’ by CEO; shares tank ‘I wish the bank had asked about my spending’ China has more ‘unicorn’ start-ups than the US Brexit deal acceptable, says … The post Things worth reading: 22nd October 2019 appeared first on Chris Skinner's blog.

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Payments Source

OCTOBER 21, 2019

A new breach adds to a growing cybersecurity ecosystem that is full of sophisticated and connected networks which have been fed by each preceding breach, says Arkose Labs’ Brendan Brummer.

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Fraud Data Retail Payments 79

PYMNTS

OCTOBER 21, 2019

Mastercard is celebrating National Women’s Small Business Month by gathering it’s Women’s Business Advisory Council for a retreat and launching its first ever Small Business Summit in New York City. “Small Businesses are the heart of the nation. During a month where our attention turns to them, we are continuing to drive a dialogue with women entrepreneurs from across the country to better understand their needs and challenges and ensure that we are advocating for them through action,” Cheryl Gu

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Payments Source

OCTOBER 21, 2019

In seeking to eliminate manual back-office payment processes for long-term healthcare and social service providers, AvidXchange says it is launching new software to steer providers to digital accounting and B2B e-payments — and eliminate paper checks.

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Software Payments 68

PYMNTS

OCTOBER 21, 2019

Mastercard is doing its part to make instant payments available to more workers, and IKEA is working to bring the gig economy closer to home. Mortgages are getting cheaper thanks to data, while protections against ID theft are being extended to some of the most vulnerable consumers. Amid all of that, payments is bringing more adventure to travel.

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Payments Data Innovation System 122

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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

Report

Payments Source

OCTOBER 21, 2019

Facebook's original proposal for Libra was to develop a sweeping, global currency with the backing of the world's biggest companies. Now, with fewer companies on its side and a massive backlash by lawmakers, Facebook is loosening one of Libra's core values.

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Strategy Regulation Company Compliance 67

PYMNTS

OCTOBER 21, 2019

Nordstrom NYC, which is scheduled to open on Oct. 24, will offer several different food and beverage locations in the store, as well as the ability for shoppers to order food and have it delivered to them while they shop. The store has seven floors and is Nordstrom ’s biggest location ever. Bloomberg is reporting that the new store will have a bevy of innovative options intended to entice customers into spending more time shopping.

Trends 113

Trends Retail New York City Innovation 113

Payments Source

OCTOBER 21, 2019

Bitcoin.com's deal; Cambodia turns to blockchain; Standard Chartered upgrades treasury management; and other information you need to start your day, from PaymentsSource and around the web.

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blockchain Payments Management 67

PYMNTS

OCTOBER 21, 2019

Corporate fraud comes in many colors, but for many businesses, the most unexpected threat is the one looming from within company walls. This week, IBM announced a collaboration with Raw Seafoods to develop a blockchain solution to address supply chain fraud in the seafood industry, including cases of incomplete documentation and mislabeling. Distributed ledger technology (DLT) is also the tool of choice for Chainvine, which uses blockchain to mitigate against the risk of supply chain fraud in th

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Fraud blockchain Ohio Survey 111

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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.

Lending

Payments Source

OCTOBER 21, 2019

Goodbox has raised £1 million (about $1.3 million) in capital, mostly from individual investors using the crowdfunding platform Seedrs following a 2017 investment from tennis star Andy Murray.

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Capital Mobile 65

PYMNTS

OCTOBER 21, 2019

Mastercard announced that it is partnering with PNC Bank to pilot Payment on Delivery, a new solution allowing businesses to pay a supplier in real time when receiving goods or services. The solution leverages the RTP network from The Clearing House for real-time payments clearing and settlement capabilities, allowing suppliers to receive instant access to funds, as well as detailed information about the transaction.

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Payments Source

OCTOBER 21, 2019

Factom Protocol executives were on Capitol Hill three years ago with other providers explaining the benefits of the blockchain and cryptocurrency technology for security and payments to the nation's lawmakers.

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cryptocurrency Payments blockchain National 64

PYMNTS

OCTOBER 21, 2019

Brick-and-mortar retailers, as well as online merchants, are offering consumers all sorts of products and services through the subscription business model, from movies to tea. And many consumer-focused companies are finding the subscription model attractive, as it can help them establish long-running customer relationships and more predictable revenue streams.

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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.

US

Payments Source

OCTOBER 21, 2019

Citing banks' growing focus on end-to-end payment processes, Bottomline Technologies says it is adding the Real-Time Payments network from The Clearing House to its digital banking platform.

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Digital Banking Payments Technology 64

PYMNTS

OCTOBER 21, 2019

A major security flaw has been discovered in the Vatican’s eRosary smart device. Last week, the Vatican announced the launch of its Click to Pray eRosary, a wearable that is dormant until it detects its user making the sign of the cross. It can be held, but can also be worn as a bracelet, and is made up of 10 consecutive black agate and hematite rosary beads, plus a data-storing “smart cross.

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Security Data Retail Technology 104

Payments Source

OCTOBER 21, 2019

Payments innovation is happening in small businesses like Rio Grande Mexican Restaurant, which has to manage a shift in how people shop, order, pay and communicate — all at the same time.

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Innovation Management Payments Colorado 63

PYMNTS

OCTOBER 21, 2019

Homeownership has long symbolized financial success and stability, but a first purchase can be notoriously tricky. Consumers often find the experience to be dauntingly complex and may struggle to understand the full scope of payment obligations. Providing consumers with sufficient supports can address these potential obstacles and speed up loan underwriting timelines, benefiting both borrowers and lenders.

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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.

Compliance

Payments Source

OCTOBER 21, 2019

The credit card lender responded to the closing of Toys R Us stores last year by issuing Synchrony-branded cards to the retailer's customers. Now it's testing a general-purpose card with a wider array of clients.

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Branding Cards Retail US 63

PYMNTS

OCTOBER 21, 2019

Trade wars. Tariffs. Brexit. Beyond the headlines and stock market gyrations, beyond the speeches from politicians and academics, lies the very real impact of geopolitics on supply chains: Trade corridors are refashioned. At a high level, trade is global in scope — and, increasingly, firms do business with each other 24/7, 365 days a year. Drilling down a bit, firms are shifting the ways they source, buy and manufacture a range of goods and services, and where they do it.

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Payments Source

OCTOBER 21, 2019

Wirecard AG gained as much as 6.6% in Germany after saying it had commissioned KPMG to conduct an independent audit of the digital payments company, its latest effort to calm investors rattled by reports of accounting irregularities.

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PYMNTS

OCTOBER 21, 2019

A new study from the National Bureau of Economic Research (NEBR) shows that the majority of Uber riders don’t tip their drivers. The Verge said that only 1 percent of riders always tip and more than half (60 percent) never do. On average, a driver will get a tip of 50 cents a trip, but regular tippers give $3 on average. Men tip more than women and women drivers get tipped more. .

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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.

Lending