Chris Skinner
JULY 30, 2018
A few years ago Jamie Dimon was renowned for saying that bitcoin developers “are going to try and eat our lunch” and that silicon valley was coming to get the banks. Three years later, it’s not quite the case. The big banks are getting bigger, and the FinTech community is nibbling … The post Big banks are not feeling the FinTech heat (yet) appeared first on Chris Skinner's blog.
Bank Innovation
JULY 30, 2018
The reality for many financial services organizations is that modernizing information systems is a project that is often desperately needed but never at the top of the priority list. If the upgrade of a legacy system or even a full migration to an alternative solution was easy, then it would have been done already. In […].
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Chris Skinner
JULY 30, 2018
Things we’re reading today include … Credit card lending continues to rise as Bank of England gears up for interest rate hike Economists split as monetary policymakers set out into the unknown Summer Camp for the Ultra-Wealthy Teaches Kids How to Stay Rich Tycoon’s Sputtering Italian Bank Investment Draws Angst … The post Things worth reading: 31st July 2018 appeared first on Chris Skinner's blog.
Bank Innovation
JULY 30, 2018
Convenience, not trust, is why people choose to pay their bills online, according to Fiserv’s quarterly report on consumer payment trends. The report, titled “Expectations & Experiences: Consumer Payments,” was released last week. It revealed that while 59% of consumers surveyed paid bills online, more than half of them said they did not trust the […].
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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
PYMNTS
JULY 30, 2018
A phishing scam making the rounds and targeting businesses is using the Square name to fool its targets. Reports in the Victoria Advocate said scammers are sending emails that appear to be from payment service provider Square. While there are several versions of the email, they all include the Square logo, according to reports. There are also links in the email to request a payment or view payment or refund details, as if a payment had already been made.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 30, 2018
Imagine you were traveling on business and you just arrived into town and had an emergency. Your luggage was sent to the wrong city or you were late for a critical meeting and you needed directions to the convention center. The check-in counter has a dozen guests waiting and the concierge is busy. Well, you may be in luck, because a four-foot robot with an open tablet computer and no waiting line is standing in the corner, and just may be able to come to your assistance.
Bobsguide
JULY 30, 2018
Since the advent of the digital wave, financial institutions have been focusing on user experience and personalization as a means to stay ahead of competition and drive revenue growth. For any financial institution, quality of customer insights serve as success factors across two key areas: 1.
PYMNTS
JULY 30, 2018
Normal operating procedure for consumers on the eve of the 2020s is incredibly different than it was on the eve of the 2010s – and it’s almost unrecognizable from the eve of the millennium. Consumers shop, bank, work and get paid differently than they ever have – and as the connection points keep rolling in, so will the changes. A digital world is a smaller world, with consumers moving both actually and virtually much more often than they ever have before.
Bobsguide
JULY 30, 2018
With increasing institutional use of Al and machine learning methods, more and more industry regulators are making use of such software to provide financial stability through services and systemic risk surveillance. Central to the UK Financial Conduct Authority’s (FCA) agenda is their.
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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 30, 2018
It’s not always easy to tell the difference between the meaning of integrations and interoperability: Integrations are systems connected in the same way, while systems that are interoperable work together, but remain different. If Modo Payments ’ founder and CEO, Bruce Parker, sent you an email, for example, how the message was sent is not at the forefront of your mind.
Insights on Business
JULY 30, 2018
When describing the financial services industry, you often hear words like “transformation” or “evolution.” These words were commonly said during the rise in popularity of secure internet browsing, voice recognition, or mobile devices and apps. While these now ubiquitous technologies are used by practically everyone across the industry and beyond, there still is evolving to do in the financial industry.
PYMNTS
JULY 30, 2018
Cybersecurity investments are soaring. Unfortunately, for many corporates, vulnerabilities in their systems — even with the latest technology — won’t be discovered until they’re taken advantage of by cyber attackers. It’s why attack simulations have emerged as a critical component of a holistic enterprise security strategy. Cybersecurity software firm Rapid7 recently published a report on its efforts to find these vulnerabilities before hackers do.
Bobsguide
JULY 30, 2018
Time and again, the legitimacy and value of the spreadsheet to business, and in particular to the finance department is questioned, given the numerous times spreadsheet errors have caused significant issue for organisations. But the reality is that for all its shortcomings, this humble tool remains.
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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 30, 2018
For many companies, 2018 is a year of regulatory change: In Canada, for example, there are proposed changes to the Canadian Payments Act that could result in the creation of a non-bank associate member role for Payments Canada. The move is significant, as the only members at the moment are financial institutions (FIs). As a result, the proposed change could open new doors for companies that are not FIs.
Payments Source
JULY 30, 2018
In a post-Equifax world, independent sales organizations, acquirers and payment processors are under much more scrutiny over merchant account applications and underwriting.
PYMNTS
JULY 30, 2018
The pop-up store , in an era where retail is resetting rapidly all around, has become a popular option for all types of businesses, including eTailers looking to put feelers out into physical commerce without a big commitment, or even physical retailers trying to test-drive an expansion into a new market. They’ve become so popular, in fact, that permanent stores have actually started incorporating them into their design with an eye toward drawing customers back in with a new and exciting experie
Payments Source
JULY 30, 2018
Kroger Co., the largest U.S. supermarket chain, said a California subsidiary will stop accepting Visa credit cards beginning next month in a dispute over swipe fees.
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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 30, 2018
Toshiba Global Commerce Solutions, the global retail electronic point of sale (EPOS) technology company, announced on Monday (July 30) that it has grown its worldwide self-checkout (SCO) market share by 46 percent, according to research and consulting company RBR. In a press release , Toshiba said its overall market share in the SCO market stands at 21 percent, according to RBR’s Global EPOS and Self-Checkout 2018 report.
Payments Source
JULY 30, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Chinese E-commerce challenger Pinduoduo scores a huge IPO; Moviepass runs out of money; Japanese printing company launches a payments project; SafeWallet offers cryptogifts.
PYMNTS
JULY 30, 2018
A visit to a local bookshop (or to Amazon , more realistically for many of us) and a brief perusal of the self-help section will give one access to hundreds of options for improvement. That is unless the shopper is online, in which case they might find themselves picking through 100,000 options. Though all claim to the best and hold the true secret to a life, there is only one book that has sold over 30 million copies on the topic : Dale Carnegie’s How to Make Friends and Influence People
Payments Source
JULY 30, 2018
As smaller screens and internet-of-things devices become more prominent, credit providers will have to find a way to accept personal information without the convenience of a terminal and keyboard.
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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 30, 2018
Grubhub ’s announcement last week, that it will acquire mobile ordering and payments platform LevelUp , is the most recent reminder that software and technology is eating the restaurant vertical, no pun intended. The market reaction to the news underscored that view: Grubhub’s stock price surged by a staggering 25 percent, analysts said, on the news of the acquisition.
Payments Source
JULY 30, 2018
For the millions of consumers who file auto insurance claims every year, many of whom use digital tools such as mobile apps to submit them, the process grinds to a halt when it comes time to receive their payment.
PYMNTS
JULY 30, 2018
India is mulling the idea of requesting eCommerce and social media companies to only store customer data locally, which could impact the likes of Amazon and Facebook and its WhatsApp messaging service in the country. According to a report in Reuters , the plan was laid out in an updated Draft National Policy. A source told Reuters the draft policy was floated around last week, and calls for more scrutiny of mergers in eCommerce so that even small deals are reviewed by India’s anti-trust re
Payments Source
JULY 30, 2018
In its push to compete more directly with Amazon, Walmart has partnered with American Express, enabling its customers to earn and burn Amex’s Membership Rewards points for e-commerce purchases on Walmart.com.
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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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