Tue.Mar 19, 2019

The true meaning of Open Banking

Chris Skinner

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.

How Data Will Speed The Move To Cashless Payments

PYMNTS

Is there a hotter topic — a buzzier buzzword, one might term it — than cashless? Ours is swiftly becoming the age of digital payments, push payments and instant payments, done by bits and bytes rather than through the conduits of coins and bills.

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The true meaning of Open Banking

Chris Skinner

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.

PayPal Powers Instagram Checkout

PYMNTS

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 bank CIO sees most tech firms as blah, blah, blah

Chris Skinner

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.

Instagram Tests The Ability To Shop In-App

PYMNTS

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.

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Worldpay, First Data deals reflect globalization of payments space

Mobile Payments Today

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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More Trending

Things worth reading: 20th March 2019

Chris Skinner

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.

How Tech-Enabled Inventory Management Improves Cash Flow

PYMNTS

Inventory management can help cash flow, or prove to be a hindrance.

ZestFinance Launches AI-powered Tool to Reduce Bias in Lending Models

Bank Innovation

Alternative underwriting software provider ZestFinance today launched an AI-based tool it claims will dramatically reduce bias in lending.

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How QSRs Are Enhancing The Dining Experience With Digital Innovations

PYMNTS

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.

Your incentive compensation management is definitely not a mousetrap

Insights on Business

Did you ever play the Mouse Trap board game when you were a kid? Do you recall how frustrating it was when you set the contraption in motion and it failed somewhere in the middle without setting the trap?

First Data Launches Tool To Help Merchants Boost Card-On-File Sales

PYMNTS

First Data , a commerce-enabling technology and solutions company, announced Tuesday (March 19) the launch of Authorization Optimization, a digital commerce tool that optimizes card-on-file transactions to boost revenue for merchants.

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Capital One Trains Virtual Assistant Eno To Be Proactive with New Tax Feature

Bank Innovation

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

Computers Die, Databases Can’t — So Banks, What’s The Plan?

PYMNTS

One cannot run a mainframe in the cloud. No one will ever beat the speed of light. Oh, yeah — and no one wants to lose their data to sloppiness, inefficiency and/or theft.

Rapyd Launches Local Payments Solution Rapyd Checkout

Bank Innovation

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.

Grab Financial Gets In SME Lending, Insurance

PYMNTS

Grab Financial Group , the Southeast Asia FinTech company, announced Tuesday (March 19) the rollout of SME lending and micro-insurance for drivers in Singapore as part of its “Grow with Grab” roadmap.

Things worth reading: 20th March 2019

Chris Skinner

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. Reading

New Jersey Outlaws Cashless Businesses

PYMNTS

New Jersey has passed a law banning cashless stores and restaurants, according to reports. The bill was signed by Gov. Phil Murphy and it requires stores and eateries to accept cash at their physical locations or face penalties.

Instagram Gets Into E-Commerce Business With Checkout Tool

Bank Innovation

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.

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InstaReM Raises $41M To Expand Into Latin America

PYMNTS

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.

5G & The Future Of Connectivity: 20 Industries The Tech Could Transform

CB Insights

Move over, 4G — the next generation of wireless technology is here. 5G is set to enhance connectivity across networks. This is especially important as the number of Internet of Things (IoT) devices rises, along with the amount of data they generate. Get the entire 31-page What is 5g? report.

March Madness: Next Big Chance For Legal Online Sports Betting

PYMNTS

March Madness has a new flavor this year: legal online betting. The annual NCAA men’s Division 1 basketball tournament will attract an estimated $8.5 billion in bets from some 47 million consumers in the U.S., according to the American Gaming Association. Most of those bets will be illegal.

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AI Trends To Watch In 2019

CB Insights

Artificial intelligence is spreading across every industry. With new developments making headlines every day, it can be tough to sort out the essential news from the hype. Our analysts cut through the noise to identify 25 of the top AI trends to watch this year. GET the 84-page AI TRENDS report.

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The Kinder, Gentler AI-Powered Call Center

PYMNTS

When it comes to interacting with call centers, consumers have become increasingly comfortable with automation.

Tools 208

Which accounts are helping your NIM, and which are hurting?

ForwardBanker

Net Internet Margin (NIM) makes the world go ’round in banking. Most everyone in finance knows it measures the difference between the interest banks pay and the interest they receive. Last year, the average NIM for U.S. banks was 3.2 percent, which was up from a record low of 2.95 percent in 2014, but down. The post Which accounts are helping your NIM, and which are hurting? appeared first on Deluxe FS.

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Faster Payments, Faster Fraudsters

PYMNTS

Real-time schemes represent significant changes to the world’s existing payments infrastructure. Businesses and merchants can use these systems to quickly access capital and gain better financial outlooks, while freelance and gig workers can use them for faster wage access.

As AI gap widens, mid-sized banks must act now – or risk falling behind

ForwardBanker

Less than 20 percent of mid-size FIs have AI plans for 2019 Ask a banker about technology and innovation, and more than likely, you’ll hear a reference to artificial intelligence (AI). Whether it’s the promise of algorithms, the complexity of big data, or the dreaded rise of the machines, the buzz about AI makes the. The post As AI gap widens, mid-sized banks must act now – or risk falling behind appeared first on Deluxe FS.

Starbucks Upgrades Rewards Program; Opens Store No. 30,000

PYMNTS

Ahead of plans to open hundreds of locations annually in China, Starbucks hit a retail milestone by opening its 30,000 th location in the world in Shenzhen. The coffee chain opened its first store in Seattle in the 1970s and has operations in 78 markets globally, Chain Store Age reported.

If you can’t build it, acquire it

Daily Fintech

Pumped up valuations mean a growing number of fintechs will increasingly feel the pressure to show some serious revenue streams in 2019, not just user acquisition and hockey stick numbers growth. For many the only route to achieve this will be through acquisitions.

Xiaomi Unveils Mi Pay Service In India; Mobile Payment Users Rise In Vietnam

PYMNTS

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.

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Case study: Bellin and Mubea drive automotive market

Bobs Guide

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

Santander InnoVentures Deepens Its Investment Expertise In North America

PYMNTS

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.

A successful handoff: MoneyPass makes the transition to Fiserv

ATM Marketplace

Last fall, U.S. Bank sold its MoneyPass surcharge-free ATM network to Fiserv. Last month, ATM Marketplace caught up with Steve Gernes, longtime head of MoneyPass, at the ATMIA US conference in Orlando to get an update on the transition of the network and its customers to Fiserv, and the synergies that are emerging as a result

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B2B Payment Co Tipalti Upgrades PayPal Payments To Help Customers

PYMNTS

Tipalti, a B2B payments company, has upgraded its PayPal services to allow its customers to use PayPal payments with suppliers more easily, the company said in a news release. This new integration takes advantage of the newest PayPal Payouts capabilities.

How to apply predictive analytics to Premiership football to beat the bookies?

Dataconomy

A few years ago, I combined my day job as a data engineer, helping customers engineer data analytics, with my love for football and set out to beat the bookies. It’s an exciting game to play, and I have learned a lot about the merits of different predictive models that. The post How to apply predictive analytics to Premiership football to beat the bookies? appeared first on Dataconomy.

Thinking Differently On Digital Payments And Data

PYMNTS

Data breaches are a serious threat to the financial health of businesses and consumers. Is there a newer way to treat data that might also help prevent fraud?

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