Mon.Feb 18, 2019

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Fintechs Do Not Fear Brexit … At Least Not, Yet

Bank Innovation

LONDON -- Brexit is an unavoidable topic in the United Kingdom these days. Unless of course, you attended Finovate Europe. The conference, which took place here on February 11 to 14, saw barely a mention of Brexit amid the discussions on global and European fintech innovation. This points to what seems to be the reality of […].

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Cyberattacks On Track To Lead Corporate Insurance Claims: Study

PYMNTS

The global insurance technology ( InsurTech ) market is slated to become a $1.1 billion industry by 2023, analysts have predicted, with growing analytics and artificial intelligence (AI) functionality accelerating innovation in the insurance market. Corporate customers are a driving force behind the InsurTech industry’s growth, with protection against cyberattack losses a popular target among InsurTech innovators and businesses alike.

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Can Banks Solve their Small-Dollar Loan Problem with Fintech Partnerships?

Bank Innovation

Aura, a San Francisco-based fintech offering affordable loans to low to moderate-income households, wants to partner with banks to offer those loans to consumers who have traditionally been unable to secure them from larger institutions. CEO James Gutierrez told Bank Innovation his vision is for Aura's 1,200 storefront partner locations to grow to 20,000 locations, including […].

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UK’s Newest Challenger Bank Diaspora Eyes Trade Finance

PYMNTS

Yet another challenger bank is slated to launch in the U.K. Diaspora , based in London, has trade finance at the center of its operations as it looks to address the friction of collaboration between buyers, sellers and financiers across borders. Reports in FinTech Futures on Friday (Feb. 15) said that it will target small- and medium-sized businesses with an array of trade finance products, including factoring.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Alliant Credit Union Could Become the First Digital-Only CU in the U.S.

Bank Innovation

Alliant Credit Union, one of the nation’s largest CUs, is fully digitalizing its end-to-end member application and loan process by yearend, moving closer to becoming the nation's first digital-only credit union. Right now, the Chicago-based Alliant allows people to apply for membership or loans online via desktop computers, phoning into its call centers or by […].

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FSS 3D Secure- Win Customer Trust with Adaptive Authentication

Payments Dive

FSS award-winning Secure3D, modelled on EMVCO 3D Secure 2.0 guidelines,, transparently authenticates card not present transactions.

Security 186
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Facebook Aims To Advance AI By Creating Its Own Chips

PYMNTS

Facebook wants to create its own chips to deliver the type of computing speeds necessary to take the next leap forward in artificial intelligence, according to a report in the Financial Times. The company also wants to make a digital assistant – similar to Apple’s Siri or Amazon’s Alexa – that can have conversations with users and that has “common sense.”.

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Germany Bans New Wirecard Short Sales in Unprecedented Move

Bank Innovation

Germany’s financial regulator took the unprecedented step of temporarily banning short sales of Wirecard AG shares following reports of suspicious accounting practices, while prosecutors in Munich expanded their investigation to include a Financial Times journalist. Investors globally are immediately prohibited from taking new short positions or increasing existing ones through April 18, according to watchdog […].

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Doubt, Confusion, Confidence: Where Crypto Stands In B2B Payments

PYMNTS

Cryptocurrency has come a long way since bitcoin’s emergence as an unregulated, anonymous payment technology. Perhaps the most poignant moment in this evolution came about last week when JPMorgan Chase announced the development of the JPM Coin, the first bank-backed cryptocurrency in the U.S., which the institution plans to deploy in its corporate payments operation.

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The State of Automation in Financial Services 2024 Report

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

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Banks deliberate tech vendor cycle

Bobsguide

“At what point should a bank move away from a traditional vendor? The answer is probably at the point at which the amount of change you want to put through the platform is being slowed down by the vendor’s change process,” says Michael James, head of technical architecture in.

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New App Lets Users Tip On Twitter With Bitcoin

PYMNTS

Twitter users can now send small bitcoin transactions as a tip if they like a tweet, according to reports. A new app called Tippin has been released as a Chrome extension, and is currently available to the browser’s users. The app lets people send bitcoin payments over the Lightning Network, which is an instantaneous and inexpensive way for people to send and receive bitcoin.

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Why digitalization is the way forward for private banking and wealth management

Bobsguide

High net worth individuals (HNWI) that utilize the services of a private bank have traditionally been given high-end experiences associated with luxury brands, namely their own dedicated investment advisor, personalized products and services and a reliance on appointment-based face-to-face meetings.

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What Amazon HQ2, Interchange Fees And Facebook Have In Common

PYMNTS

I hosted a digital discussion last week with an executive from Sift with more than 15 years of experience building trust and safety organizations for some of the biggest digital brands in the world – including Google , Facebook and Square. We had roughly 340 execs register to listen live to the two of us banter about the people, processes and tech necessary to do more than simply rebrand what’s typically described as the fraud and risk departments of digital platforms.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Utilising the ATM to enhance customer experience

Bobsguide

Non-cash transactions grew by 10.1% globally 2015-2016, according to the 2018 World Payments Report. In the US, the growth rate reported was much lower than the majority of markets - at just 5.7% - however, in terms of the number of non-cash transactions, it dominated with 148.5 billion non-cash.

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Apple Overhauls Leadership Ranks To Move Beyond iPhone

PYMNTS

In an attempt to lower its reliance on the iPhone, Apple is overhauling its leadership ranks and changing its priorities so that it is focused more on services, artificial intelligence, hardware and retail, reported The Wall Street Journal. According to the paper, the changes have been afoot since 2018, and include bringing on new high-profile hires , promoting others and letting go of some.

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Q&A: Belgium to New York via Benin

Bobsguide

On February 14, Datactics – the Belfast-headquartered regtech, providing data quality and matching software – announced the opening of two new offices in New York and Milan. Among the new recruits – including a new chairman of the company’s board, Graham Paterson, and Luca.

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Disbursements Drop Anchor In Boat-Sharing Platforms

PYMNTS

Digital disbursement solutions have helped aid expansion of the sharing and gig economies. Now, these solutions are being put to use in other unexpected markets, including the now-legalized sports betting market, inside correctional facilities and on the high seas. The new Disbursements Tracker looks at how these solutions are creating opportunities in new ecosystems, and how the rise of real-time payment systems around globe could lead to further adoption.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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OTC clearing: a step by step guide

Bobsguide

Among the many regulatory overhauls introduced to financial markets in recent years, those surrounding clearing have perhaps raised the most question marks for market participants – as well as regulators. For market participants, those using over-the-counter (OTC) derivatives have seen.

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GoCardless Raises $75M In Funding For Organic Growth

PYMNTS

GoCardless , the global player in recurring payments, announced Monday (February 18) it has landed $75 million in venture funding. In a press release, the U.K. payments company said the Series E investment included new investors Adam Street Partners, GV (formerly Google Ventures) and Salesforce Ventures as well as existing investors Accel Partners, Balderton Capital, Notion Capital, and Passion Capital.

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These Are The Most Active Fintech Investors In 2018

CB Insights

Deals in 2018 were up 15% compared to the previous year, while funding levels surged 120%. Driving these trends were 52 mega-rounds ($100M+) worth a combined total of almost $25B. Another contributing factor was an uptick in the number of investors, which reached a new peak of 2,745. Of note is the expanding role of corporate VCs, which participated in 33% of deals, a 5-year high.

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How Digital Subscriptions Open Doors To Global Content

PYMNTS

In the age when consumers can enjoy digital content at their fingertips, subscriptions are no longer just a novelty: They are opening the doors to libraries of music, movies and news — a pivotal way that consumers access information and entertainment from their favorite artists as well as writers through their computers and mobile devices. Scribd , for instance, enables customers to access over one million eBooks and audiobooks for a monthly fee and is part of a booming eBook market.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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FSS 3D Secure- Win Customer Trust with Adaptive Authentication

ATM Marketplace

FSS award-winning Secure3D, modelled on EMVCO 3D Secure 2.0 guidelines,, transparently authenticates card not present transactions.

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Etsy Payment Error Results In Money Withdrawn From Sellers’ Accounts

PYMNTS

Etsy suffered a bill payment error in which a large amount of money was withdrawn from several of its sellers’ bank accounts and charged to their credit cards late last week. According to a report , although Etsy said the issue has been corrected and that it was not due to fraud, sellers have to deal with a delay in getting their money back given that it is a federal holiday (Feb. 18).

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Why ‘Explainable AI’ is the Next Frontier in Financial Crime Fighting

ABA Community Banking

Staying ahead of financial crime and compliance risk has become more complex and expensive than ever before Financial Research Feature Financial Trends Technology Risk Management Feature3 AML & Fraud Security Tech Management BSA/AML Fintech Payments Risk Adjusted Checks/Remote Deposit Capture Compliance Management Compliance/Regulatory Cyberfraud/ID Theft Compliance Common Sense Compliance Big Data.

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Why North American Merchants Are Adopting Alipay In-Store (And Online)

PYMNTS

To serve travelers from China who want to shop in-store and online, retailers thousands of miles away from Asia are accepting Alipay in brick-and-mortar stores and on the web. The digital payment method, which is a payment affiliate of Alibaba, had more than 700 million annual active users in 2018 (an increase of 200 million year on year at the time).

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.