Thu.Nov 22, 2018

article thumbnail

What banks can learn from British Airways

Chris Skinner

Something happened to me this week that made me think of big bank friends. It’s a different industry and one that, last month, I said we could learn from:the airlines. So, here’s a sobering, learning lesson. I’m a gold member of most airline networks, having flown Star Alliance and One World for … The post What banks can learn from British Airways appeared first on Chris Skinner's blog.

Industry 347
article thumbnail

Sweden’s Cashless Drive Hits A Speed Bump

PYMNTS

In Sweden, the move to a cashless society has been marked by a quickened pace. Might there be speed bumps ahead, though? The New York Times said cash is being left by the wayside, in favor of digital payments, so quickly that the government is reportedly “recalculating the societal costs of a cash-free future.”. The reconsideration comes, according to the Times , as half of Sweden’s retailers have said they will stop accepting hard currency within the next few years.

ATM 201
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ten chairs: how to change the bank

Chris Skinner

I was in the middle of a conversation about how to change the bank, when we started talking about the boardroom issue. As many of you will know, I often reference the fact that, according to research, over nine out of ten bank boardroom members have never had a job … The post Ten chairs: how to change the bank appeared first on Chris Skinner's blog.

How To 290
article thumbnail

Is India’s ATM Disappearing Act A Digital Payments Boon?

PYMNTS

In India, get ready for new lines. News came this week that as many as half of the ATMs that dot the country’s landscape may be shuttered by March of 2019. The estimate is courtesy of the Confederation of ATM Industry (CATMi), which focuses on the domestic ATM industry. The number is a significant one, as there were more than 2.2 million ATMs across India, per data from the Reserve Bank of India (RBI).

ATM 187
article thumbnail

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

article thumbnail

Things worth reading: 23rd November 2018

Chris Skinner

Things we’re reading today include … Monzo and Starling are making banks take mental health seriously Deutsche Bank shares hit record lows as German bank dragged into money laundering scandal Goldman Sachs offers London staff emergency nannies Exclusive: Visa, Mastercard offer tourist card fee cut in EU antitrust probe – … The post Things worth reading: 23rd November 2018 appeared first on Chris Skinner's blog.

Cards 192

More Trending

article thumbnail

BIN sponsorship: how to get it right

Bobsguide

Banking Identification Number (BIN) sponsorship is a quick shortcut for many companies looking to get their proposition to market both domestically and overseas. BIN sponsorship allows firms to process payments through an intermediary that is a direct scheme member. Why not go direct? Direct.

How To 74
article thumbnail

Thanksgiving Innovation 101: The Turkey

PYMNTS

According to the National Turkey Federation (which really does exist) roughly 85 percent of Americans plan to eat turkey for Thanksgiving. That amounts to something like 45 to 50 million turkeys sold and 700 million to 800 million pounds of turkey meat eaten today — and the days to come as leftovers. The average turkey weighs 16 pounds and costs $22.03.

article thumbnail

EU and US banks facing escalated risks

Bobsguide

There has been a significant increase in credit risk in the EU this year, while US banks face increased regulatory risk in the months ahead. That’s according to research and credit specialists at S&P Global Market Intelligence, speaking at an event this week in London. “Across.

US 68
article thumbnail

As March Looms, Brexit Impact On Financial World Still Uncertain

PYMNTS

A singular event in Europe, a spark, then a conflagration. Empires and economic systems are transformed and borders redrawn, with global impact. The legacy of World War I? Well, yes. But the seismic changes above just as easily refer to Brexit years after the historic 2016 vote marking a thumbs up to a historic divorce. The March deadline flashes before the financial world as the U.K. prepares to leave the European Union.

Fintech 156
article thumbnail

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

article thumbnail

Why Account Management Scores Matter – in Russia and Beyond

FICO

Many lenders in markets outside the US use FICO® Scores to assess the risk of consumers applying for loan, but don’t continue to monitor those consumers’ risk using the FICO Score. In this post, I will share analysis that shows why using account management scores is equally important. I will share recent analysis done in Russia, where more than half of the top Russian banks use FICO Scores delivered by NBKI, but most are only using the scores for Account Origination.

article thumbnail

Xiaomi Will Have 5K Stores In India By End Of Next Year

PYMNTS

Chinese tech giant Xiaomi plans to have 5,000 of its stores open in India by the end of 2019. “It’s been over a year since we started offering our products through offline retail, and we have seen strong growth there,” said Manu Jain, Xiaomi vice president and managing director for India, according to CNBC. “Offline retail is a huge segment in our country, with nearly 40 percent of the offline market focused in rural regions, and all of this should increase our offline sa

Retail 140
article thumbnail

Global ecommerce adoption reaches peak

The Paypers

(The Paypers) Ecommerce adoption by consumers has reached its peak in 2018, according to the latest Pitney Bowes global ecommerce study.

Study 50
article thumbnail

Facebook Fights UK Fine For Cambridge Analytica Scandal

PYMNTS

Facebook plans to appeal a fine issued by the U.K. ’s data watchdog in response to the social media site’s Cambridge Analytica scandal. An estimated 1 million U.K. residents were affected by the scandal, which impacted 87 million Facebook users. Though there was no evidence that any of the U.K. users’ data was shared by third parties, the company was still hit last month with a $644,600 fine in the U.K. after the Information Commissioner’s Office (ICO) ruled that the social media network

article thumbnail

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.

article thumbnail

B2B payments warning: accounts payable fraud on the rise

The Paypers

(The Paypers) Business-to-business payment fraud has been increasing, with accounts payable fraud on the rise, according to Association for Financial Professionals (AFP) reports.

Fraud 39
article thumbnail

Durable Good Orders Decline The Most In 15 Months

PYMNTS

Orders for durable goods in the U.S. declined the most in 15 months in October as demand for transportation equipment suffered a sharp decline, the Financial Times reported. According to a report in the Financial Times , at the same time that durable goods declined, the underlying data points to a continuation of the strong economy in the U.S. Citing the U.S.

Capital 130
article thumbnail

Dutch payment method iDEAL exceeds 2 billion payments

The Paypers

(The Paypers) iDEAL , a Netherlands-based online payment method, has registered more than 2 billion online payments as of early November 2018.

article thumbnail

NRF Survey: 164M Shoppers This Thanksgiving Weekend

PYMNTS

Thanksgiving will see as many as 164 million shoppers spending their way through the holiday weekend and into Cyber Monday. That’s according to data released by the National Retail Federation (NRF) and Prosper Insights & Analytics. The data is part of the annual survey released ahead of the holiday. Of the 7,516 consumers surveyed, 21 percent state they will shop on the actual day of Thanksgiving, and Black Friday, the choice of 71 percent of shoppers, will be the biggest day of the Thank

Survey 124
article thumbnail

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.

article thumbnail

Zwipe, Smart Technology partner to develop biometric payment cards

The Paypers

(The Paypers) Zwipe , a biometric technology company, and production equipment manufacturer Smart Technology Services (STS) have teamed up to test and launch biometric payment cards.

article thumbnail

Braintri and iCompass announce merger plan

The Paypers

(The Paypers) Braintri and iCompass , two Poland-based fintechs servicing banks and payment institutions, have begun to merge and prepare an offer for the financial sector.

Fintech 28
article thumbnail

Intesa Sanpaolo to offer Apple Pay to its customers

The Paypers

(The Paypers) Intesa Sanpaolo has announced it is bringing its customers Apple Pay , available on credit cards, prepaid cards, and XME Card debit cards issued by the group.

Apple 28
article thumbnail

FICO selected by Banco Original to launch digital platform

The Paypers

(The Paypers) Banco Original, a Brazilian bank that aims to offer a fully digital checking account, has chosen FICO as its strategic partner to launch its digital platform.

28
article thumbnail

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.

article thumbnail

Visa supports Asia Pacific through fintech fast-track program

The Paypers

(The Paypers) Visa has expanded of its fast-track program to support Asia Pacific-based fintechs that are developing the next generation of digital payment solutions.

Fintech 28
article thumbnail

Small businesses take on the big brands this Black Friday, Ingenico study shows

The Paypers

(The Paypers) A study on customer behaviour by Ingenico Group and YouGov has uncovered the fact that small businesses are taking on the big brands this Black Friday.

Study 28
article thumbnail

China expands retail policies for cross-border ecommerce

The Paypers

(The Paypers) China has shared plans to expand and improve policies on retail imports and exports via cross-border ecommerce to unlock the potential of consumption.

article thumbnail

Cloudleaf to offer digital supply chain services in MENA region

The Paypers

(The Paypers) US-based IoT and digital transformation company Cloudleaf has teamed with Bahwan CyberTek to offer digital supply chain solutions in the MENA region.

article thumbnail

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.