Chris Skinner
NOVEMBER 14, 2018
Twenty years ago, I worked on a strategy for the future of banking. My conclusion was that banks would merge with telecommunications firms and become hybrid institutions. Twenty years later, it hasn’t happened. But will it? It was interesting because way back then I worked for NCR which was owned … The post Banks and Telcos? Two become one! appeared first on Chris Skinner's blog.
PYMNTS
NOVEMBER 14, 2018
Google Cloud has announced a partnership with artificial intelligence and data analytics firm ThoughtSpot to develop cloud analytics solutions for the enterprise. In a press release issued on Tuesday (Nov. 13), Google Cloud said it has certified ThoughtSpot to operate its in-memory calculation engine, Falcon, on the Google Cloud Platform. The company also revealed additional integrations into the Google Cloud Machine Learning Engine.
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Bank Innovation
NOVEMBER 14, 2018
Last week, Bank Innovation wrote about the difficulty smaller banks claim to experience offering their customers the P2P platform Zelle. The smaller financial institutions voiced concerns of long waits and an underlying bias on the part of bank-backed Zelle toward larger institutions. At the time this story went live, Zelle could not be reached for comment.
PYMNTS
NOVEMBER 14, 2018
What’s worse than a “maybe”? Warm ice cream, perhaps? Flat soda? Pat Boone singing heavy metal? (Yes, he actually released an album of heavy metal covers in 1997, with hard-edged songs from Metallica and Guns N’ Roses rendered in a jazzy style that is not campy but just bad.). Anyway, when it comes to “maybes” — the absence of certainty, the mushy middle that, in business, can mean revenue loss and flat growth — too many of them can provide openings for fraud.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Bank Innovation
NOVEMBER 14, 2018
After a decade of lagging behind, banks may finally have closed a gap with credit unions when it comes to customer service, new research from the American Customer Satisfaction Index suggests. Credit unions and banks both posted an ACSI score of 81 (out of 100). Although banks gained ground on credit unions over the last […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 14, 2018
Last week, Bank Innovation wrote about the difficulty smaller banks claim to experience offering their customers the P2P platform Zelle. The smaller financial institutions voiced concerns of long waits and an underlying bias on the part of bank-backed Zelle toward larger institutions. At the time this story went live, Zelle could not be reached for comment.
PYMNTS
NOVEMBER 14, 2018
Arket , a brand of H&M , is piloting a blockchain product integration with the help of VeChain, TheNextWeb reported. While the brand did not tell the outlet where it was using the implementation, it did say that was using the solution to securely track product data. A spokesperson told TNW , “Arket has done a small Proof of Concept (POC) through a pilot testing with VeChain to use blockchain technology to secure product data traceability in the value chain.
Bank Innovation
NOVEMBER 14, 2018
After a decade of lagging behind, banks may finally have closed a gap with credit unions when it comes to customer service, new research from the American Customer Satisfaction Index suggests. Credit unions and banks both posted an ACSI score of 81 (out of 100). Although banks gained ground on credit unions over the last […].
PYMNTS
NOVEMBER 14, 2018
Tandem Bank, the U.K. mobile bank , announced on Wednesday (Nov. 14) a new automatic savings service that will be powered by global payments platform Stripe. In a press release , Tandem Bank said the new feature allows customers to set up rules that automatically move money from their current accounts with other providers to a savings account with Tandem.
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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 Source
NOVEMBER 14, 2018
As an industry, we need to take the risks of poor AI design and algorithmic bias seriously, says Ralf Ohlhausen, business development director at PPRO Group.
PYMNTS
NOVEMBER 14, 2018
Grocery delivery startup Instacart raised an extra $271 million in November, bringing its latest round of funding to $871 million. A source told Reuters that the additional funding comes from investors, including U.S. hedge fund Tiger Global Management and existing investors Coatue Management and Valiant Capital. Instacart has raised $1.87 billion in total, with a $7.87 billion valuation, the publication said.
Bobsguide
NOVEMBER 14, 2018
Cost disclosure may well yet prove to be the most pernicious element of the EU’s entire consumer protection strategy. Part of Mifid II, these changes apply to all wealth management transactions where there is a cost of investing money in the market. Some advisers refer to the.
PYMNTS
NOVEMBER 14, 2018
IMF head Christine Lagarde called on central banks to seriously consider issuing digital currency to fill the gap left by the declining use of cash. The Financial Times , citing comments the head of the IMF made in Singapore, reported Lagarde thinks there could be a role for central banks to aid financial inclusion and prevent instances where “too much power could fall into the hands of a small number of outsized private payment providers.
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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
NOVEMBER 14, 2018
Given Chinese consumers’ appetite for U.S. and foreign brands, retail companies planning to participate in this year’s holiday sales in China should consider capitalizing on China’s huge holiday sales by adopting mobile pay and influencer marketing and by emphasizing quality and authenticity, according to Franklin Chu, managing director for Azoya USA.
PYMNTS
NOVEMBER 14, 2018
The fact that things are going digital isn’t shocking or even news – it has seemingly been the drift of things for over two decades. But the speed at which some things have already made the switchover – payments and lending spring to mind – is impressive. And the speed with which relatively new ideas in digitization – speakers and identity , for example – have come from out of nowhere to dominate conversations in only the last few years.
Insights on Business
NOVEMBER 14, 2018
To be a sales compensation manager (SCM) is a position that many would not envy. You are tasked with administering and executing a structured, and often complex, commission plan to sales agents. It is not going out on a limb saying the number one concern of every salesman and saleswoman is their take home pay. By nature, a commissioned agent’s paycheck is going to vary from pay period to pay period, and often, complex and structured compensation plans, lead to a wide range of amounts per pay per
PYMNTS
NOVEMBER 14, 2018
Ant Financial , the Alibaba affiliate, expects its core business will be technology services down the road as it expands beyond only payments. In an interview with CNBC, Ant Financial chief executive Eric Jing said Ant Financial views itself as a technology company, and that Alipay — its digital payment service that has more than 700 million annual active users — is just the beginning of what it can do with technology.
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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
NOVEMBER 14, 2018
JPMorgan Chase & Co. has committed to roll out contactless chip cards for all new and replacement payment cards, which will likely spark a mass movement, if the experience of other global markets is any guide.
PYMNTS
NOVEMBER 14, 2018
The payroll industry — and its biweekly or monthly pay schedule — hasn’t changed in decades. However, as awareness grows about the dangers of predatory payday lenders and the costs of bank overdrafts, employees demand better alternatives. Researchers are beginning to explore the potential for on-demand wages to address some of professionals’ personal cash flow challenges.
Payments Source
NOVEMBER 14, 2018
Gas Pos, which markets a solution for petroleum operators to convert to EMV payment technology at the pump, has raised $1 million in funding from a Silicon Valley venture capital firm.
PYMNTS
NOVEMBER 14, 2018
Chase said Wednesday (Nov. 14) that it is rolling out tap-to-pay functionality across its Chase Visa card portfolio, an initiative that will begin late this year and extend into 2019. Chase , the consumer banking arm of JPMorgan Chase & Co., said the rollout will be done on an ongoing basis, spanning when customers open up new accounts or have cards that are renewed.
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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.
Payments Source
NOVEMBER 14, 2018
Amazon Go’s cashierless checkout model has made its impact felt across the board, motivating large chains like Walmart and Kroger's to respond. But the biggest threat it poses is to convenience and fast-food brands like 7-Eleven.
PYMNTS
NOVEMBER 14, 2018
A new report from Interactive Advertising Bureau ( IAB ) shows that the online advertising business continues to grow at double-digit rates. “This landmark figure cements digital advertising — whether display, search or mobile video — as one of the most powerful mechanisms of all time for brands to build relationships with consumers. It’s a truth upon which direct-to-consumer brands have built their businesses, and from which all businesses can benefit,” said Randall Rothenberg, president and C
Payments Source
NOVEMBER 14, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: A breach at Nordstrom; Mobile pay deal in South Africa; Pay.UK expands data reach; Flipkart CEO resigns; Hackers hit Target's Twitter account.
PYMNTS
NOVEMBER 14, 2018
Meal kit commerce is having a rough time in late 2018, at least judging by recent news from Blue Apron , which is laying off employees as the company loses customers and struggles with lower average order values. Those problems reflect the industry’s general challenge of keeping hold of customers, even as companies involved in the space seek new partnerships to increase the appeal of their products and better serve the most loyal and high-spending consumer segments.
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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.
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