Chris Skinner
JULY 18, 2018
The UK’s challenger banks are busy getting on with it. They’ve got their licences, they’ve deployed their services, they’re partnering with third parties and creating marketplaces. Much of this was cited in a report by CBInsights, comparing the features of the five most notable new ones: Atom, Starling, Monzo, Revolut … The post Some challenger banks are challenging appeared first on Chris Skinner's blog.
Bank Innovation
JULY 18, 2018
Royal Bank of Canada has invested $1.1 billion on innovation over the last four years and added 1,000 employees to work on digital initiatives since 2016, Bank Innovation has learned. That amount is relatively small compared to larger banks such as Bank of America, for instance. In fact, Bank Innovation previously reported that BofA is investing $500 […].
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Chris Skinner
JULY 18, 2018
I’ve been talking a lot about the Eastern and Southern Hemispheres these days. I’m adamant that these hemispheres are creating the future, whilst the North Western Hemisphere struggles with its legacy infrastructure. In particular, Europe and America are suffering from their old technology structures. Specifically, America is lagging the world. … The post The Pet Shop Boys got it wrong appeared first on Chris Skinner's blog.
Bank Innovation
JULY 18, 2018
Digital banks may be sprouting up all over the banking world, but don’t look for one from U.S. Bank. On this morning’s earnings call, CEO Andy Cecere noted the bank was looking to expand beyond its current 25-state branch footprint, which covers the Midwest and the western U.S. The bank is national in terms of […].
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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
Chris Skinner
JULY 18, 2018
Things we’re reading today include … Virtual banking is set to shake up Hong Kong Mobile bank cashiers used post-it notes for customers U.S. Bank Looks to Expand, But Not with a Digital Bank Silicon Valley Bank hits $100m investment target in Ireland Taxman will have ‘new powers to look … The post Things worth reading: 19th July 2018 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 18, 2018
SBI Holdings’ own crypto trading platform, VCTRADE , has gone live, according to Cryptovest. At launch, the platform will reportedly support trading of the Japanese yen with Ripple ’s XRP. The news comes as the platform was formally unveiled in June following beta testing last year. In other news, BitPay has received a digital currency license from the New York Department of Financial Services (DFS) that is called a “BitLicense,” Cryptovest reported.
Payments Source
JULY 18, 2018
Considering that cryptocurrencies are designed to circumvent the banking system, banks will need to come up with ways to protect themselves, writes Ely Pinto, chief information security officer at Bank Leumi.
PYMNTS
JULY 18, 2018
Criminals are always on the hunt for new opportunity. As companies settle into a world governed by Europe’s second Payment Services Directive ( PSD2 ), and as financial institutions (FIs) and FinTech companies explore the possibilities of faster payments and unbundled banking , attention to how to secure those activities is increasing. How exactly fraud attacks and fraud prevention will change in the post-PSD2 world remains unclear, but change is certain, according to observers.
Insights on Business
JULY 18, 2018
IBM RegTech Innovations. When IBM acquired OpenPages in 2010, it was widely recognized as a pioneer and market leader in governance, risk and compliance software. Initially founded in 2002 to address the opportunity created by the Sarbanes Oxley Act, OpenPages’ client adoption was so strong over the coming years that by 2005, OpenPages was ranked 29 th on the Inc. 500 list of the fastest-growing private companies in the country.
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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
PYMNTS
JULY 18, 2018
Amazon is reportedly engaged in deal talks about acquiring MedPlus, the Indian pharmacy chain. According to Reuters , citing FactorDaily, the Indian news website, sources said the talks are in the early stages. MedPlus Health Services operates more than 1,500 pharmacies in India, and also operates lab testing centers and has a surgical equipment distribution unit.
Bobsguide
JULY 18, 2018
“The Innovation Arms Race analysis illustrates that the US, EU and UK need to be more focused and strategic in converting R&D dollars into impact and outcomes,” wrote Rosemarie Truman, CEO and founder of CAI, as the report was released. The report aims to provide clarity into the.
PYMNTS
JULY 18, 2018
WIISE , the FinTech joint venture between Microsoft and KPMG Australia , will go global in 2019, the companies announced in a press release issued Tuesday (July 17), also revealing their next B2B product resulting from their strategic partnership. Microsoft, KPMG Australia and the Commonwealth Bank of Australia (CBA) first announced the creation of WIISE in May.
Payments Source
JULY 18, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Square collaborates with Bank of Queensland; Wirecard pushes wearables; Former JPMorgan payments exec Morgan joins Barclays; Qiwi's blockchain subsidiary will award tokens as staff bonuses.
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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.
PYMNTS
JULY 18, 2018
eBay is gearing up to slash close to 300 jobs in California, with the cuts slated to be completed by July 20. According to a report in San Jose’s The Mercury Times , citing the state labor agency Employment Development Department (EDD), eBay notified the affected workers at the end of June. In the notice to the EDD, Amir Vonsover, an eBay employment counsel, wrote, “eBay will conduct a mass layoff.
Bobsguide
JULY 18, 2018
Client service is so integral to the DNA of some companies that they are renowned and revered for their service excellence. Online retailer Zappos, Nordstrom department store and sports outfitter REI come to mind, as does Rackspace, which has gone so far as to brand its “results-obsessed.
PYMNTS
JULY 18, 2018
Late payments can threaten supply chains in any industry, but one sector in particular has seen the supplier payments struggle turn stark in recent days. Two of the airline industry’s largest players — Airbus and Lufthansa — are caught in late payment disputes, recent reports revealed, and issues can be traced back to contractual disagreements and struggles down the supply chain.
Payments Source
JULY 18, 2018
If an employee is in need of money and struggling to wait for payday, ZayZoon wants "payday" to mean any day the employee chooses to receive those funds from an employer.
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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.
PYMNTS
JULY 18, 2018
Credit unions help their members through a long list of life’s most cherished events, from saving for college to buying a home or other long-term financial goals. It’s not just about personal banking, though. Credit unions can also assist members with finding new housing arrangements when unexpected, unwanted life events occur — like recovering from the aftermath of a natural disaster.
Payments Source
JULY 18, 2018
The ISO&Agent Factbook is a vital resource for the merchant acquiring industry. To get the magazine, please contact Customer Service at help@sourcemedia.com or 212-803-8500.
PYMNTS
JULY 18, 2018
Amazon flirted with the $900 billion market cap club Wednesday (July 18) after completing a successful Prime Day shopping event. In a press release, the eCommerce giant said sales for this year’s Prime Day surpassed Cyber Monday, Black Friday and the Prime Day 2017 in terms of sales, making it the biggest shopping event in Amazon’s history.
Payments Source
JULY 18, 2018
Rural Alaskans, including Native Americans living in the mountains, may not have access to traditional banks. But they aren't exactly living off the grid.
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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.
PYMNTS
JULY 18, 2018
The fine, finally. Tongue in cheek as that sentiment may be, the EU fine levied over Android and dominance of that operating system has been a long time coming for Google. And now there’s a definitive amount, and it’s nothing to sneeze at: $5 billion (or about 4.3 billion euros). It’s a record for an antitrust fine, and in tandem with the penalty is an order from the EU that may have far-reaching implications, as The Wall Street Journal notes – including the looming possibility that such c
Payments Source
JULY 18, 2018
The acquirer OLB Group is positioning itself as a data steward for a future in which merchants will have predictive data to inform decisions on financing.
PYMNTS
JULY 18, 2018
To make self-checkout more user-friendly and enjoyable, Target has rolled out updates to the experience. For example, Target is now allowing consumers to select produce by using emojis, the retailer said in an announcement. Target launched the feature because it has found that buying produce is a pain point for consumers. When consumers search the full selection of a retailer’s items at self-checkout, they might inadvertently choose the incorrect item from a dropdown menu.
CB Insights
JULY 18, 2018
We took a look at our real-time unicorn company tracker and found the early websites of some of the most valuable private companies before they became the juggernauts that people are talking about today. As you look at these websites, think about whether you’d have predicted they’d be worth $1B, $10B, or $40B today. Get the PDF: Unicorn Trends Report.
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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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