Mon.Mar 11, 2019

Will Facebook become the world’s central bank?

Chris Skinner

I got a large number of pings over the weekend to read and comment on an article on Medium by Lance Ng headlined: Facebook Plans to Become World’s Biggest Central Bank?

The top five challenges and opportunities for AI in RegTech

Insights on Business

In the span of a just few years, artificial intelligence (AI) has gone from a niche, relatively abstract concept, to entwining itself in multiple aspects of our daily lives.

Why Retailers Are Making mPOS Technology A Top Priority


In the age of digital payments, mobile point of sale systems (POS) are making inroads with the promise of time-saving conveniences for merchants. These systems can provide restaurants with the ability to check their inventories or update their menus, for example.

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Lessons learned from recent incentive compensation management war stories

Insights on Business

In my travels to clients, I hear many war stories. Recently, these have come from new clients with recent wounds. These wounds often go deep – there are tales of long days, lost weekends, and swaths of frustrated team members.

3 Notable Fintech Funding Rounds in March

Bank Innovation

Fintech funding is significantly on the rise. CB Insights' 2018 Q4 report showed a $21 billion, or 120% total increase in fintech funding from 2017 to 2018. And already this year, there have been several notable funding rounds.

CULedger, IBM To Bring Blockchain-Based Services To Credit Unions


CULedger , a credit union, has inked a partnership with IBM to create blockchain services geared toward credit unions.

Retail Trends To Watch In 2019

CB Insights

Amazon may dominate discussions about the future of retail, but a range of technologies are already disrupting the sector. Our analysts looked at signals across the industry to identify the top 21 retail trends to watch in 2019. GET the 54-page retail TRENDS report.

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More Trending

The Non-QM Challenge & How Technology Can Help

Bank Innovation

By all accounts, the non-qualified mortgage (non-QM) market is booming. In 2018 alone, $11.38 billion of expanding-credit MBS, including non-QMs, was issued, and analysts expect a 60% increase in these products in 2019. Despite this sudden rise in popularity, many mortgage professionals still have concerns about non-QMs, fearing increased risk after the mortgage market finally […]. Lending Payments Retail Sales & Marketing Sponsored LoanScorecard online lenders underwriting

Autonomous Food Deliveries (And Robots) Put To The Test


The last mile can be vexing for firms aiming to get their products in the hands of consumers. For food companies, the logistics of the last 10 feet can prove a challenge as well.

What Every Banker Needs to Know Today About Artificial Intelligence


In the last two years, almost every technology company has started using the terms artificial intelligence and, related to that, machine learning. In fact, there has been a 1,400% increase in the mention of these two terms during earnings calls of public companies during the same period.

AML Scandals Prompt Decrease In European Foreign Deposits


In the wake of a slew of European money laundering scandals, deposits in the euro zone region from foreign countries dropped significantly in the latter half of 2018.

Report: Machine learning aids visible hand of payments

Bobs Guide

Banks are turning to machine learning and other advanced technological protocols to protect consumers in the escalating fraud arms race, as legacy systems creak under the digital burden - market participants and commentators say. “As banking has entered the online and mobile channels, so

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SugarMoo And Delivering Dessert On Demand In Dubai


Raki Phillips was tired of cupcakes. There are many reasons to found a business — to save the world, to make one’s fortune — but the most common story we hear about here at PYMNTS is the one about the founder who discovers a pain point in his or her own life.

The Apple Card Cometh

Matt Wilcox Pro

Innovation doesn’t always move forward. Sometimes it circles back. For instance, Amazon saved you from having to travel to physical stores, and then circled back and opened physical stores.

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Levi Strauss IPO Eyes $6.2B Valuation


In the land of tech-heavy IPOs and newly minted Silicon Valley millionaires, might the stars align for a marquee name in … jeans? As reported Monday (March 11), Levi Strauss & Co. has said it seeks to raise roughly $587 million through an upcoming initial public offering.

Airbnb Acquires HotelTonight: A Review Of The Online Travel Booking Market

CB Insights

get THE 26-page airbnb strategy report. Download the free report to take a deep dive inside Airbnb’s strategy, including international expansion and more. Email. On March 7th, Airbnb acquired HotelTonight , a last-minute hotel booking startup backed by Accel, Battery Ventures, Coatue Management, and First Round Capital, among others. HotelTonight is Airbnb’s largest acquisition to date.

Data Dive, Forward Backward Edition: The Cashless Tango And Amazon’s Opposite Moves


While it is easy to imagine the path of progress is ever forward, often in the innovation game it is a bit more like the Paula Abdul hit song from the late ’80s — two steps forward, one step back.

High-quality Low-cost, Active Index investing

Daily Fintech

`Jack` Bogle passed away this past January. No matter what investment camp you belong to, he has undoubtedly impacted investment thinking, products, and services.

NatWest Testing Biometric Fingerprint Card Payments


NatWest , the U.K. bank, is kicking off a test in which customers can use biometric fingerprint technology for card payments.

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Rise in alternative data sparks demand for drag and drop integration tools

Bobs Guide

While integrating data has long presented challenges for firms, the significant rise in alternative credit data has led to an even greater need for fast, effective, data management and amalgamation, according to Michael Shurley, global director of industry solutions at Provenir

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US Retail Sales Increase In January


With a rise in discretionary spending and building materials purchasing, retail sales in the U.S. increased by 0.2 percent in January. At the same time, however, it was noted that retail sales fell by 1.6 percent in December compared to the 1.2 percent that was previously reported, Reuters reported.

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UK Cards Delinquencies Show Troubling Trends


Our analysis of UK cards data from the FICO Benchmarking Service has revealed some troubling trends in UK cards delinquencies. All average delinquent balances reached over two-year highs in the fourth quarter of 2018.

EU Antitrust Chief Favors Data Regulation Over Dismantling Tech Cos


European Union Competition Commissioner Margrethe Vestager said that breaking up big tech companies like Facebook and Google should be seen as a last resort, and that the better idea might be to find a way to regulate data usage. Vestager was speaking at SXSW , according to reports. “To

Myth Busting with Clever Girl Finance and Jenelle Dito, FICO® Score Open Access Program


Bola Sokunbi of Clever Girl Finance recently chatted with Jenelle Dito, Director, FICO ® Score Open Access program, for her podcast episode ‘ Dispelling The Most Common Credit Myths ’.

Can Merchandise Make A Presidential Campaign?


The presidential running season, like the holiday shopping season, seems to get a little longer every time. The next presidential election is in 603 days.

Vista Bank picks Temenos for African digital expansion

The Paypers

(The Paypers) Vista Group , an African challenger bank, has turned to Temenos to power its digital overhaul

Amazon’s Developer Reward Program For Alexa Expands To Spain, Italy And France


Amazon has expanded a program that rewards developers for creating top apps for its Alexa voice assistant to Spain, Italy and France, in a push to give people in those countries access to high-quality content from Alexa-enabled devices.

Deutsche Börse and Swisscom to build digital asset infrastructure

The Paypers

(The Paypers) Deutsche Börse , IT services provider Swisscom and fintech company Sygnum have teamed up to build a digital asset infrastructure on blockchain

Inventories Jumped In The U.S. In December


Inventories at companies in the U.S jumped in the last month of 2018 as sales plummeted the most in three years. According to a report in Reuters , citing the Commerce Department, inventories, which are a key component of the gross domestic product, came in as expected by economists for December.

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CULedger teams up with IBM for blockchain network

The Paypers

(The Paypers) CULedger , a credit union service organisation (CUSO), has partnered with IBM to develop blockchain-based services for credit unions

Matching Ad Hoc Workers With Employers In The UK


Labour xchange is matching ad hoc employees with employers in the U.K. In addition, retailers are ranking mobile point-of-sale (mPOS) adoption high on their priority lists this year.

Ecommerce, consumer internet companies raised over USD 7 bln in 2018

The Paypers

(The Paypers) According to a study by EY , ecommerce and consumer internet companies have raised more than USD 7 billion through private equity and venture capital funding in 2018

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Fiserv Simplifies Cash Management In Smart Safes


Fiserv , a financial technology company, has partnered with cash solutions company NationalLink to simplify cash management for users, the company said in a press release. NationalLink will use a financial services technology called CorPoint, which is a cash supply chain management software.

Russian users prefer installment plans for online shopping

The Paypers

(The Paypers) Users will most often take online loans to pay for household goods, educational services, and appliances, a Yandex.Checkout study reveals

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India’s FSS Backs Ecentric Payment Systems; Vista Group Taps Temenos For Digital Transformation


Welcome to The Axis, your late look at payments news from around the world. Coverage includes India ’s Financial Software and Systems (FSS) investment in South African payment processor Ecentric Payment Systems. In addition, African challenger bank Vista Group has selected banking software company Temenos to help with its digital transformation, and Australia FinTech firm PayRight has notched more than $30 million in financing.

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Three big questions as Wells Fargo’s CEO heads to Capitol Hill


How well Tim Sloan fares before the House Financial Services Committee will hinge largely on his ability to stay on message in the face of what is expected to be sharp criticism from Democratic lawmakers. Financial regulations Enforcement actions Crime and misconduct Employee relations Workforce management Tim Sloan Wells Fargo House Financial Services Committee

China’s Mofang Raises $150M In Latest Round Of Funding


Mofang Apartment, the Chinese startup that provides institutional rental apartments, has raised $150 million in venture funding. According to a report in Deal Street Asia , the Series D round of funding was led by CDPQ, the Canda-based institutional fund management company. CDPQ manages funds for public pension and insurance plans, noted the report.