Chris Skinner
JUNE 25, 2018
For some time now, I’ve been reflecting on a conversation about Monzo. It relates to my write-up the other day on new bank thinking, and that Monzo are clever with data. Using Google Map APIs and other services, they enrich my transaction statement so I know when, where and what … The post Banks are losing the data war appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 25, 2018
PREMIUM - The digital and innovation strategy behind Fifth Third, one the largest regional banks in the country, is simple: build, buy, partner. That strategy has worked well for the bank.The company told Bank Innovation that it has invested $100 million in fintech over the past 22 months and that it expects to make about […].
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PYMNTS
JUNE 25, 2018
Marry tech and talent, then risk management can pay dividends, notes an upcoming PYMNTS webinar. However, for many financial services firms, RegTech’s (Regulatory Technology) potential is limited by any number of causes. The technical capabilities can be dizzying and dazzling, of course, spanning the gamut from machine learning to artificial intelligence (AI), to predictive modeling.
Bank Innovation
JUNE 25, 2018
PREMIUM- P2P payments app, Venmo, has launched its debit card, Venmo Card, and it is powered by Mastercard. When Venmo first launched its card in beta last September, it was backed by Visa. After 10 months of trial, the PayPal-owned Venmo notified its users that they can get a Venmo debit card through a link on […].
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
PYMNTS
JUNE 25, 2018
My plan on Friday evening was to write a hard-hitting piece on a services segment with incredible marketplace friction. Then I went to Whole Foods on the North Shore of Boston Saturday morning to do some grocery shopping. There, right inside the front door, was a nice, young Whole Foods team member, who let me know that the store would soon be offering special discounts to Amazon Prime members who shopped there.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JUNE 25, 2018
From music royalties to airline vouchers, there are many reasons organizations may need to push payments to individuals in various amounts, currencies, forms and frequencies, including real time. For instance, say that a flight has been delayed and all its passengers will need accommodations for the night before catching the rescheduled flight in the morning.
Insights on Business
JUNE 25, 2018
FinTech is undeniably transforming banking and financial industries. Everyday there is a new hot topic or a new application of an existing technology that is reshaping the industry. But while the industry was first focused on disparate projects to quickly implement new technologies, recently there has been a shift to construct new business architectures and bring these technologies into an ecosystem.
PYMNTS
JUNE 25, 2018
SoftBank , the Japanese company, is gearing up to list its wireless carrier unit on the Tokyo Stock Exchange as soon as July. According to a report in the Nikkei Asian Review , the move is aimed at raising capital so it can continue on its path to become a technology investment company. The unit, which will have the SoftBank name, could debut on the Tokyo Stock Exchange by the end of the year with the parent listing a partial stake in the unit.
Bobsguide
JUNE 25, 2018
These are challenging times for many fund managers. Regulators in key jurisdictions across the globe have started to place fees and charges under a microscope, introducing tough new legislative hurdles in a bid to improve transparency for clients. Yet this shifting regulatory landscape has.
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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
JUNE 25, 2018
The world’s startups are having a good year. In the first quarter of this year, KPMG said in a recent report that there were five $1 billion-plus mega-venture capital rounds, and analysts say venture capitalists (VCs) are diversifying their investment targets as emerging focuses, from artificial intelligence (AI) to healthcare, build excitement.
Payments Source
JUNE 25, 2018
American Express prevailed Monday in an eight-year antitrust battle with the government. Here’s a look at how other card networks, banks, retailers and consumers will be affected.
PYMNTS
JUNE 25, 2018
JD.com ‘s annual 618 Shopping Festival was a big success for the Chinese eCommerce player, raking in $24.6 billion, according to new data from Coresight Research. In a report , Coresight Research said that the shopping festival, which ran from June 1 through June 18, saw a year-over-year increase of 37 percent. Mobile phones, PCs, air conditioners, digital products, and food and beverages were the leading categories.
Bobsguide
JUNE 25, 2018
Calypso Technology have been developing blockchain solutions for capital markets for the past two years, cooperating with leading industry technology companies and end-users. Significant progress has been made, and Calypso have an aggressive product roadmap to expand the solution.
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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
JUNE 25, 2018
Are consumers shifting the way they make direct payments to billers? A new report suggests so, but there remain questions about the effectiveness of direct billing plans. The news peg? According to a new report from Aite , 73 percent of U.S. online bill payments made by consumers in 2016 were conducted via biller-direct sites — up from 62 percent in 2010.
Payments Source
JUNE 25, 2018
The Supreme Court is tossing a wrench into online payment processing at a time when tariffs are already threatening popular cross-border e-commerce and online marketplaces.
PYMNTS
JUNE 25, 2018
Bank profits are up. Consumers are shifting, en masse, to mobile devices and home speakers as conduits used in their daily financial lives. However, as in so many other areas of life: For the traditional financial institutions, (FIs), things could be better. That’s a bit tongue in cheek, of course, but only a bit. The fact remains that FinTech upstarts are making strides, and any number of tech juggernauts — from Apple to Amazon — are nibbling around the edges of financial services.
Bobsguide
JUNE 25, 2018
Blockchain isn’t a disruptive technology, but a foundational one. Innovative technologies will be built upon it, just as bitcoin, the first cryptocurrency was. With blockchain we could build better supply chains, create better health care systems, and make more efficient payment systems.
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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
JUNE 25, 2018
MetLife was charged with making false statements to investors on Monday (June 25) by the securities regulator in Massachusetts. According to news from Reuters , citing Massachusetts Secretary of the Commonwealth William Galvin, MetLife allegedly provided false statements to investors about its failure to pay out pension benefits to retirees that it treated improperly as presumed dead.
Payments Source
JUNE 25, 2018
South Asian remittance firm InstaReM has launched its cross-border P2P and B2B digital money transfer service in the U.K. and the EU as it prepares for an IPO in 2021. It also expects to become profitable by then.
PYMNTS
JUNE 25, 2018
Google announced last week it is overhauling its privacy and security settings service — dubbed Google Account — to make it more secure and easier to use. In a blog post , Jan Hannemann, Product Manager, Google Account said that the new Google Account experience includes features so users can more easily navigate their account, more security and privacy options that are prominently displayed and detailed summaries of information associated with it such as personal information, devices, payment
Payments Source
JUNE 25, 2018
Gromit Unleashed 2 will be incorporating contactless donation points along the art trail to aid the Bristol Children’s Hospital — a project that is as much a necessity as it is an innovation in the U.K.'s aggressively contactless environment.
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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.
PYMNTS
JUNE 25, 2018
Zillow , the online real estate company, disclosed Monday (June 25) that the Consumer Financial Protection Bureau (CFPB) dropped a previously disclosed investigation into the company. In a Securities and Exchange Commission (SEC) filing, Zillow said that, in February, it received a Notice and Opportunity to Respond and Advise (NORA) by the CFPB, with the letter alerting Zillow that the bureau was considering whether or not to recommend legal action against the company.
Payments Source
JUNE 25, 2018
The U.S. Supreme Court threw out a government lawsuit that accused American Express Co. of thwarting competition by prohibiting merchants from steering customers to cards with lower fees.
PYMNTS
JUNE 25, 2018
And so, the two-sided market lives on. In a ruling Monday morning (June 25), the Supreme Court of the United States ruled that American Express , the third-largest card network in the U.S., did not violate federal antitrust laws with business practices — known as anti-steering — that prohibit merchants from, in turn, dissuading consumers from using American Express cards.
Payments Source
JUNE 25, 2018
The warning doesn't touch on blockchain's nonfinancial applications, where it is making more of an impact, contends Joseph Thompson, CEO and co-founder of AID:Tech.
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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.
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