Bank Innovation
JANUARY 17, 2018
Indian consumers prefer biometrics to PINs or passwords to authenticate payments, a new report by Visa suggests. According to the report, 99% of those surveyed said they would like to use at least one biometric form of authentication (fingerprint, voice recognition, eye scan, etc.) to make payments. The reason for this overwhelming support in favor […].
Chris Skinner
JANUARY 17, 2018
I’ve been in touch with Colin Iles in South Africa for a while now. Formerly the head of client strategy at Barclays Africa (ABSA), he’s now been working on a new bank called Capitec. I say new, it’s actually been around for 17 years, but it is interesting that for … The post 11 decisions that made a challenger the best bank on the planet appeared first on Chris Skinner's blog.
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Bank Innovation
JANUARY 17, 2018
Bank of America has more blockchain-related patents than any other firm in the U.S., according to a new report by New York-based law firm EnvisionIP. According to the report, Bank of America has 43 patents while Mastercard and IBM have 27 each, followed by 14 from Fidelity. The report counted a total of 1,045 blockchain […].
PYMNTS
JANUARY 17, 2018
The corporate expense management market doesn’t look like it once did. The traditional strategy of handing an employee a corporate card, hoping they make responsible purchases and depending on accurate expense reports has evolved into a market that embraces automation, artificial intelligence, mobility and an array of card products, from P-cards to virtual numbers.
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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 17, 2018
EXCLUSIVE- Oren Goldschmidt, President at Pivotus Ventures has joined the speaker faculty for Bank Innovation 2018, taking place March 5-6 in San Francisco. Goldschmidt co-founded the California-based Pivotus Ventures two years ago. The venture capital firm, which is a subsidiary of Umpqua Holdings Corp, is self-described as an “innovation studio with imagining and creating key […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 17, 2018
EXCLUSIVE—British fintech Curve opened its app for users in the United Kingdom today, allowing consumers full access to its host of mobile banking tools, including its ‘Go Back in Time’ feature for purchases. The startup’s ‘Go Back in Time’ feature — which allows users to switch the payment for a previously made purchase from one […].
PYMNTS
JANUARY 17, 2018
Acquiring customers in retail is challenging. Even more so when a merchant has adopted a subscription commerce business model. Unlike a regular retail purchase — which has little long-term risk to customers should they regret their purchases — buying a subscription-based product isn’t just about buying a good or a service; it’s about engaging in an ongoing relationship.
Bank Innovation
JANUARY 17, 2018
London bank Standard Chartered has created an investment unit for financial technologies and innovation, the bank reported today. Under the heading ‘SC Ventures,’ the unit will focus on the bank’s existing “minority investments in fintech,” as reported by Reuters, while also searching for new fintech investments. The bank’s current fintech investments include companies such as […].
PYMNTS
JANUARY 17, 2018
UPS Capital is ramping up its focus on small business finance. The company, a subsidiary of UPS, announced on Tuesday (Jan. 16) that it is expanding its UPS Capital Cargo Finance solution, which provides small- and medium-sized businesses with credit lines to finance goods as they are shipped. UPS Capital is increasing the amount an SMB can borrow from 70 percent of a supplier’s invoice to 100 percent, the company noted.
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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
Bank Innovation
JANUARY 17, 2018
EXCLUSIVE— While mobile banking usage appears to be steadily increasing, some banks are getting better at it than others. Bank of America, which reported its fourth quarter earnings for 2017 today, stated that the bank now has 24.2 million mobile active banking users, up 2% from 23.6 million last quarter and up a respectable 12% […].
PYMNTS
JANUARY 17, 2018
Dynamic pricing is not just for Uber and Lyft. One pioneering London restaurateur has brought the pricing strategy into the dining room. Leonid Shutov, owner and founder of the city’s swanky Bob Bob Ricard restaurant, has decided to tie his menu prices to projected demand — and offer discounted menu items to his diners during off-peak hours, Fortune reported Saturday.
Insights on Business
JANUARY 17, 2018
Fundamental forces are changing how we view business. These forces mean future outcomes are less certain. There is more competition and more ways to assemble winning teams and winning business models, but fewer certainties about what will deliver success. In this episode of the Boardroom Advisory Series , we talk about how to leapfrog the competition through learning what other industries are doing to be successful.
PYMNTS
JANUARY 17, 2018
Electronic invoicing firm CloudTrade is integrating its service into procure-to-pay platform OpusCapita, the firms announced Tuesday (Jan. 19). According to OpusCapita, its procure-to-pay and order-to-cash solution facilitates 600 million transactions a year with more than 8,000 customers across the globe. The integration of an eInvoicing solution can reduce friction, especially for suppliers, according to the company’s Product Manager of Global Invoice Sending Matts Ek. “CloudTrade
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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.
Let's Talk Payments
JANUARY 17, 2018
Of all emerging technologies, executives believe the IoT will be the most important, ranking it above others such as artificial intelligence or robotics, Forbes reports. Some of the most recent.
PYMNTS
JANUARY 17, 2018
Bitcoin took a tumble on Wednesday, dropping as much as 20 percent and dipping below the $10,000 mark, Reuters reported. By early evening, however, the currency had rebounded, hitting $11,153.21 at 5:25 P.M. according to CoinDesk. Bitcoin wasn’t alone in its fall, as other cryptocurrencies lost value over investor concerns that regulators would take measures to curb speculation.
Payments Source
JANUARY 17, 2018
As mobile commerce matures, consumers are getting more accustomed to the process of populating a shopping cart from a smartphone's screen. It's a process that could translate well to brick-and-mortar stores.
PYMNTS
JANUARY 17, 2018
The most popular time of the day when people drink coffee isn’t just a factoid: It’s a viable marketing strategy. When the iconic Great Atlantic & Pacific Tea Company (A&P) was looking to brand its bulk Brazilian coffee in 1919, it asked consumers when they drank coffee. Their answer was 8:00 A.M. and 8:00 P.M., so the A&P decided to name its house brand of coffee Eight O’Clock.
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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.
Bobsguide
JANUARY 17, 2018
Scott Dam, Director at Synechron Business Consulting. Basel III is a major piece of legislation that aims to improve the capital in banks and help manage risk. Its ultimate aim is to avoid a repeat of the 2008 financial crash, which makes it a vital part of how banks can do business in the.
PYMNTS
JANUARY 17, 2018
Trend Lab, a startup developing artificial intelligence (AI) solutions for the FinTech market, has revealed it secured new funding. In a press release issued Tuesday (Jan. 16), the company said it raised more than $12.7 million from angel investors. Trend Lab was established in less than three months by its Founder and CEO Tin Mok, reports said, who wants to enhance FinTech across Hong Kong and the Asia-Pacific region.
BankNXT
JANUARY 17, 2018
Chris Skinner says Estonia is the only country that could run on a USB stick, as he outlines how the country has changed since Nato moved its Cyber Defence Centre into Tallinn. e-Estonia, a country full of e-everything on BankNXT.
PYMNTS
JANUARY 17, 2018
With the blockchain industry expected to exceed a $7.6 billion valuation by 2022, it’s no wonder companies large and small, old and new are scrambling to land their piece of the pie. As is often the case in today’s financial services market, industry players are in a delicate dance of collaboration and competition – and blockchain is no exception.
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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 17, 2018
Most U.S. merchants faced a 2015 deadline for EMV compliance, but gas stations have until 2020. Those extra years bring with them an assortment of new technology that can fundamentally change the ways motorists fuel up.
PYMNTS
JANUARY 17, 2018
Several new innovations that change the way retailers manage inventory and consumers purchase products were on display at the National Retail Federation’s annual trade show, The New York Times reported. The convention floor included displays of alert systems programmed to identify heavy-spending customers, smart shelves that can track inventory in real time and robots for supply chain applications.
Payments Source
JANUARY 17, 2018
This dangerous "wild west" scenario of fraud and breaches is pushing improving or revamping online authentication to the top of this year’s to-do list for both online companies and governments, writes Robert Capps, vice president of business development for NuData Security.
PYMNTS
JANUARY 17, 2018
If voice commerce is the future, then multi-modal commerce may be the future’s future. Voice, as Kris Zanuldin, head of Connected Commerce at Amazon , previously told PYMNTS , is convenient, but it gains much more power when combined with other forms of interaction. Don’t believe it? Just look at how Alexa has moved out of the Echo speaker and made herself at home in other areas of consumers’ lives.
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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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