Chris Skinner
MARCH 19, 2019
A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking. Now, I read more and more about embedded banking, contextual banking, frictionless banking and more, and I … The post The true meaning of Open Banking appeared first on Chris Skinner's blog.
Payments Dive
MARCH 19, 2019
The blockbuster acquisitions of First Data and Worldpay in recent months reflect a serious turn towards globalization in the payments industry and will likely result in continued consolidation, according to experts.
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Chris Skinner
MARCH 19, 2019
A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking. Now, I read more and more about embedded banking, contextual banking, frictionless banking and more, and I … The post The true meaning of Open Banking appeared first on Chris Skinner's blog.
Bank Innovation
MARCH 19, 2019
Alternative underwriting software provider ZestFinance today launched an AI-based tool it claims will dramatically reduce bias in lending. Founder and CEO Douglas Merrill, a former Google CIO, told Bank Innovation that ZAML Fair, an add-on to the company's existing ZAML (Zest Automated Machine Learning) platform, is a new algorithm that lenders can use to tune […].
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.
Chris Skinner
MARCH 19, 2019
I can understand why bankers can be sceptical about what technologists say. For years, technologists have been telling them that their business is threatened by technological change. They’ve been shouting that they will be disintermediated; they say that the bank must change and change fast to keep up; they argue … The post The bank CIO sees most tech firms as blah, blah, blah 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.
Chris Skinner
MARCH 19, 2019
Things we’re reading today include … Forty-year mortgages: life sentence or life raft? Lloyds faces £300m bill for SLA divorce Citi starts up post-Brexit Frankfurt trading hub U.S. bank regulator fines Citigroup $25 million for violating fair lending rules UK to lose £1tn of financial assets to Europe due … The post Things worth reading: 20th March 2019 appeared first on Chris Skinner's blog.
PYMNTS
MARCH 19, 2019
Instagram has launched a checkout feature designed to help the social media platform become a more attractive place for consumers to buy retail products, and to capture more sales via what is coming to be known as contextual commerce. The launch of Checkout by Instagram includes participation by PayPal and its retail partnership program , signaling its further expansion into eCommerce payments.
Bank Innovation
MARCH 19, 2019
Most virtual assistants are reactive, but Capital One is training its virtual assistant, Eno, to be proactive, according to Ken Dodelin, VP of conversational AI products at the bank. “Most [virtual assistants] are chasing reactive customer questions,” Dodelin told Bank Innovation. “We are doing some of that, but the biggest update in our plan is […].
PYMNTS
MARCH 19, 2019
Behind the billions of dollars — OK, make that tens and tens of billions of dollars — in deal-making that has marked the payments space in the just the first few weeks of 2019, lies, of course … strategy. And it’s grand strategy at that, with cross-border linkups that anticipate and facilitate (and, yes, spur) the move from cash to paying online or with cards.
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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
MARCH 19, 2019
Fintech-as-a-service platform Rapyd today launched Rapyd Checkout, a hyper-local payments solution allowing merchants to accept over 500 local payment types including cash, bank transfers, local cards, and e-wallets, in 100-plus countries. This follows the company’s $40 million Series B funding in February. Helcio Nobre, Chief Product Officer at Rapyd, told Bank Innovation that Checkout allows […].
PYMNTS
MARCH 19, 2019
Instagram , the photo and video sharing social media platform operator, is rolling out a trial of a new shopping program in which users can shop and check out within the app. According to a report in Digiday , the company is testing the program with more than twenty beauty and fashion brands that will include direct-to-consumer companies as well as well known companies.
Chris Skinner
MARCH 19, 2019
Things we’re reading today include … Forty-year mortgages: life sentence or life raft? Lloyds faces £300m bill for SLA divorce Citi starts up post-Brexit Frankfurt trading hub U.S. bank regulator fines Citigroup $25 million for violating fair lending rules UK to lose £1tn of financial assets to Europe due … The post Things worth reading: 20th March 2019 appeared first on Chris Skinner's blog.
PYMNTS
MARCH 19, 2019
To enhance diners’ experiences in quick-service restaurants (QSRs), managers are utilizing digital innovations, enabling everything from faster orders to more efficient kitchens. Overall, restaurant leaders have one goal: to make quick service even quicker. More than 70 percent of QSR managers see these as the main benefits of implementing technology, according to the PYMNTS Restaurant Readiness Index.
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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
MARCH 19, 2019
After years of ogling beautiful images of food, fashion and design on Instagram, people will now be able to buy things they see and like directly through the app -- providing instant gratification for the trend-obsessed and a new source of income for parent Facebook Inc. Starting Tuesday, the photo-sharing app is testing a shopping […].
PYMNTS
MARCH 19, 2019
Santander InnoVentures, Santander Group’s global corporate venture capital fund, announced Tuesday (March 19) its appointment of Chris Gottschalk as a senior adviser to lead the $200M fund’s strategic direction in the U.S. According to a Fintech Finance report, Gottschalk will be based in San Francisco and will focus on strengthening the fund via investment opportunities in the region.
Bobsguide
MARCH 19, 2019
For multinational groups, the ability to instantly appraise cash positions has long been a challenge. Selecting the right treasury management system (TMS) can be key to liquidity and the ongoing running of the business. Mubea – the German multinational automotive parts producer – chose.
PYMNTS
MARCH 19, 2019
InstaReM, the Singapore FinTech startup that enables banks and consumers to send money across borders , raised $41 million in venture funding. According to a report in TechCrunch , the four-year-old startup raised the money in a Series C round of funding. In November it raised $20 million in capital from investors. The most recent round was led by Vertex Ventures’ global growth fund and Antinum Investment in South Korea.
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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.
Payments Source
MARCH 19, 2019
Fraud attacks against online food and beverage businesses in the U.S. increased by nearly 80 percent in the past year, as fraudsters have decided that dining establishments are the perfect places to test stolen card credentials.
PYMNTS
MARCH 19, 2019
The Mississippi Attorney General (AG) revealed that his office is preparing an antitrust case against Google , accusing the tech giant of controlling a “pipeline” of data. “We attorneys general have authority under consumer protection acts to do both,” said Mississippi Attorney General Jim Hood, according to CNBC , on Monday (March 18). “So it’ll be a multifaceted suit or, hopefully, we can get a settlement if we can get some agreement with them.”.
Payments Source
MARCH 19, 2019
Even as regulations are getting tougher, criminals are getting more sophisticated and creative, writes Ron Teicher, CEO of EverCompliant.
PYMNTS
MARCH 19, 2019
When it comes to interacting with call centers, consumers have become increasingly comfortable with automation. In fact, customers are starting to chafe at traditional authentication methods: 74 percent agree that a fingerprint or voice identifier will protect their personal information better than a traditional password or PIN. To that end, call center companies are experimenting with new ways to identify customers without interrupting communication.
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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.
CFPB Monitor
MARCH 19, 2019
On March 7, 2019, the DOJ announced the largest coordinated sweep of elder fraud cases to date. Joined by the FBI and other federal and state partners, the DOJ held a press conference detailing the results of the coordinated effort. Coordinated law enforcement actions in the past year, they said, resulted in criminal cases against more than 260 defendants who victimized more than 2 million Americans, most of them elderly.
PYMNTS
MARCH 19, 2019
Welcome to The Axis, your late look at payments news from around the world. Coverage includes Xiaomi’s unveiling of its Mi Pay mobile payment service in India. In addition, the number of people making mobile payments in stores is on the move in Vietnam and more than four in 10 credit and debit transactions were processed through contactless technology in the United Kingdom last year.
Bobsguide
MARCH 19, 2019
Carlos Domingo is a senior executive, entrepreneur, investor, and currently the CEO and co-founder of Securitize. Before becoming the CEO of Securitize, Carlos co-founded and launched SPiCE VC, a fully tokenized VC fund. In order to ensure global compliance for SPiCE VC, Carlos.
PYMNTS
MARCH 19, 2019
To help provide employees with improved financial well-being, DailyPay tapped into Fiserv ’s Digital Disbursements offering to allow workers access to their earned, but unpaid, wages. The solution sends these funds quickly and securely through multiple methods instantly, the same day or the next day, according to a case study from Fiserv. “We live in a world where instant is an expectation,” DailyPay CEO Jason Lee said in the study.
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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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