Bank Innovation
JANUARY 25, 2018
EXCLUSIVE — It’s not even a month into 2018 and already so much has changed. The cryptocurrency bitcoin, which shocked everyone by surpassing $17K, further shocked everyone by dropping below $10K. Then of course there are various other events sweeping the financial services space, from new tax laws in the U.S., to the rise of […].
Payments Dive
JANUARY 25, 2018
Amazon's supermarket, which boasts a cashierless checkout, is open to the masses after a year in beta with Seattle-based company employees. Retail industry pundits, not surprisingly, have a lot to say about the public launch.
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Bank Innovation
JANUARY 25, 2018
EXCLUSIVE—Two out of three U.S. adults are already comfortable interacting with retailers, banks, and other companies using natural language technology, according to a study released by Mastercard today. The study, conducted by Mastercard and Mercator with 3,000 U.S. adult participants, found that consumers are already quite comfortable using text or voice-based technology — which relies […].
Chris Skinner
JANUARY 25, 2018
Another musing whilst on holiday is that it is difficult to get into the head of a twenty- or thirty- something millennial when you’re a Gen X or Baby Boomer. In my head, I still think I’m 20 but, when I look in the mirror, I know I’m not. This … The post Millennials: are you cool or history? appeared first on Chris Skinner's blog.
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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
Bank Innovation
JANUARY 25, 2018
EXCLUSIVE – Fintech security company Tender Armor today raised a Series A funding from private investors. The amount was undisclosed, but company CEO Madeline Aufseeser told Bank Innovation the multi-million-dollar amount was above the industry average for the amount invested and the company valuation. She declined to specify what she considers that average to be, […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 25, 2018
Chinese company Baidu is in talks with prospective investors for the purpose of raising $2 billion in funding focused on expanding its weight in financial services, Reuters reported yesterday. The search engine, which operates the online payments service Baidu Wallet (which provides credit and wealth management services on its platform), is looking for investors that […].
PYMNTS
JANUARY 25, 2018
There’s a road — literally — from analog to digital. Think stamped metal translated into bits and bytes, helping to transform a part of the auto industry that has been around for more than a hundred years: license plates. In the process, might the age-old frustration of standing in line at the DMV, shuffling papers, paying by (gasp!) paper check all be transformed along the way?
Bank Innovation
JANUARY 25, 2018
Seven mobile wallets have formed a payments consortium in Singapore, the goal of which is to create an “inoperable” QR payments solution for both merchant and consumer use, it was announced today. The seven members of the consortium include Diners Club, EZi Wallet, EZ-Link, Liquid Pay, Mastercard, UnionPay International and Wirecard. The mobile wallets of […].
PYMNTS
JANUARY 25, 2018
Nine West and its creditors are close to reaching a deal that would result in the struggling clothing store filing for bankruptcy and selling some of its assets. Citing people with knowledge of the negotiations, Bloomberg reported news that the deal aims to restructure the company’s nearly $1.5 billion debt. Part of those negotiations would include Nine West selling off parts of the company.
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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
Bobsguide
JANUARY 25, 2018
After the financial crash and events such as the Brexit vote, it’s no surprise that new generations are losing their faith in the promise of capitalism. Sascha Ragtschaa, CEO and Co-founder at Chainium, argues that investing on the blockchain could be the answer. In the past ten years the.
PYMNTS
JANUARY 25, 2018
Small businesses face a mountain of financial challenges in the U.K. , from late payments from their large corporate clients to a lack of access to easy, affordable financing. In an attempt to address many of these concerns, regulators have stepped in with initiatives, such as establishing a Small Business Commissioner last year to champion SMB-related causes.
Payments Source
JANUARY 25, 2018
The hunt for solid credit card customers is driving issuers to try creative new approaches, including digging deeper for good prospects who fall outside the usual parameters of U.S. credit scoring models.
PYMNTS
JANUARY 25, 2018
In possibly the latest crime involving cryptocurrency, U.S. regulators say that a Nevada company and two involved individuals allegedly defrauded more than $6 million from customers seeking to buy a virtual currency called My Big Coin, Reuters reported. The U.S. Commodity Futures Trading Commission filed the lawsuit in federal court against the company, its founder and an individual who allegedly had solicited customers for the company.
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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
JANUARY 25, 2018
In the ever-changing era of cyber threats against payment and personal data, it is dangerous for companies or financial institutions to spend a lot of time or money establishing defenses only against external threats.
PYMNTS
JANUARY 25, 2018
Crowdz , a Canada-based B2B eCommerce firm, is aiming to deploy blockchain to facilitate digital commerce for its corporate clients. The company said in a press release on Wednesday (Jan. 24) that it’s working with the Creative Destruction Lab accelerator program to launch its Smart Transaction Networks solution, a blockchain tool to help companies more efficiently sell online and transact.
Payments Source
JANUARY 25, 2018
There are a number of tactics and solutions organizations can employ to shut down the favored methods of fraudsters, including the use of bots and device compromise, writes Michael Lynch, chief strategy officer at InAuth.
PYMNTS
JANUARY 25, 2018
The coffee’s on, and so are the laptops. It’s an average day at the coffee shop, whether it’s a massive international chain like Starbucks or a local mom-and-pop café. It’s a smart business move for the freelancers, startups and independent contractors using the shop as their office. Instead of paying rent on office space, they’re simply paying rent on a table in the form of a drink or two a day, and maybe a snack if they’re peckish.
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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 25, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Arsenal signs deal with blockchain company; Connected car tech advances; Cryptocurrency M&A; First Data recruits in Ireland.
PYMNTS
JANUARY 25, 2018
Google is reportedly ending its relationship with eCommerce platforms BigCommerce , Magento and PrestaShop, with plans to wind down support by March 20. With the integration, merchants using BigCommerce, Magento and PrestaShop could connect their product catalogs with the Google Merchant Center. According to a report in Search Engine Land , which cited emails received from Sales & Orders, Google has been sending emails to merchants that use one of those three services, alerting them to the t
Payments Source
JANUARY 25, 2018
Organizations handling payments or personal data are increasingly moving to cloud-based technology, and cyber criminals are taking advantage of that transition in finding new attack vectors.
PYMNTS
JANUARY 25, 2018
The U.K.’s financial services market is expanding, with FinTechs — dubbed challenger banks — rivaling traditional financial institutions (FIs). This week, the industry got a bit bigger: Recent reports said the sector’s newest entrant, Countingup , has officially launched to disrupt the small business (SMB) banking space. According to Asset Finance International , the challenger bank is particularly focused on sole traders, freelancers and contractors to provide them with a mobile-first financial
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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 25, 2018
Tender Armor, which offers a fraud-prevention tool that requires consumers to enter a special code for each online purchase, has attracted private equity funding to expand its development three years after the company’s inception.
PYMNTS
JANUARY 25, 2018
Apple and Lowe’s are partnering to change how the home improvement brand interacts with its customer base. According to news from Chain Store Age , the retailer is collaborating with Apple on the launch of Business Chat, a feature designed for customers to interact directly with the brand via text messages. The platform grants consumers access to Lowe’s customer service department, where they can ask employees questions, resolve problems and even complete commerce transactions via phone, iPad, w
Payments Source
JANUARY 25, 2018
The Consumer Financial Protection Bureau extended the effective date for its prepaid card rule to April 2019 and carved out an exception for arrangements where digital wallets are linked to a credit card.
PYMNTS
JANUARY 25, 2018
After acquiring Whole Foods in 2017, it appears Amazon is making the same moves the grocer would have made on its own to face increasing competition — only faster, a former Whole Foods board member recently told CNBC. “What is Amazon doing that Whole Foods wasn’t going to do?” said Ron Shaich, founder of Panera Bread. “They’re doing the same thing — lowering the prices to compete, and they’re bringing the technology to bear, but they have air cover.”.
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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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