Payments Dive
MARCH 12, 2019
Blockchain, cryptocurrency, bitcoin: These terms can often be highly confusing to those not in some level of the IT industry. Ray Wiley, CEO and co-founder of Hot Head Burritos and Rapid Fired Pizza helped bring some clarity to these topics during a session at the Restaurant Franchising & Innovation Summit.
Bank Innovation
MARCH 12, 2019
Identity proofing and verification startup Diro Labs won the DEMOvation Challenge today at Bank Innovation Ignite 2019 in Seattle. In addition to bragging rights, the company will receive admission to the INV Fintech Accelerator and an advertising package on Bank Innovation. Vishal Gupta, co-founder and CEO of New Dehli, India-based Diro, said his company solves […].
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PYMNTS
MARCH 12, 2019
Digital banking customers of today aren’t looking for the bank with the newest features — they’re looking for the bank that can keep their data safe. Any security mishap can send customers to one of the other digital banking apps that are ready and waiting for them. In the new Digital Banking Tracker , PYMNTS examines the ways digital banking is changing as security measures grow more stringent, and challenger banks look to amass more customers.
Bank Innovation
MARCH 12, 2019
Lisa Frazier, Head of Innovation at Wells Fargo, says the bank wants to use artificial intelligence not just to make their customers' experience smoother and more delightful, but to help them make better financial decisions as well. “It’s become easier to buy things than ever before,” she said during her Ignite Ideas talk at Bank […].
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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
MARCH 12, 2019
Innovation has always been important for community banks, but the driving force of digitization over the last decade has greatly sped up the pace, said Kevin Tweddle, chief innovation officer for the Independent Community Bankers of America ( ICBA ). That push, he noted, hasn’t come from within the financial services industry proper, but primarily from the so-called “GAFA group” of Google, Amazon, Facebook and Apple — and the many ways they’ve made doing business simpler and smoother for consume
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
MARCH 12, 2019
Money moves only as fast as payments infrastructure will allow. To that end, there’s a bottleneck. The gig economy is gaining steam, as roughly a third (more than 35 percent) of U.S. workers are participating in part-time or project-based employment, and increasingly they want to get paid when the work is done. Roughly 85 percent of the several thousand gig workers we surveyed said they would work more often if they could be paid faster.
Payments Source
MARCH 12, 2019
Our annual Most Influential Women in Payments feature, now in its seventh year, highlights the women who are creating change and opportunities in the payments industry. For the first time, the editors of PaymentsSource have also recognized one woman for lifetime achievement.
PYMNTS
MARCH 12, 2019
Online commerce solution provider BigCommerce is adding business-to-business eCommerce to its suite of services. The company said in a press release Tuesday (March 12) that, along with a slew of partners, it has launched BigCommerce for B2B to provide B2B sellers with resources to more efficiently sell online. The firm is working with several partners that offer their own B2B solutions, which integrate their tools into the BigCommerce for B2B platform.
Payments Source
MARCH 12, 2019
While a career in payments can allow a person to touch on many different aspects of payments services, PayPal's Prashanthi Ravanavarapu can say her focus has remained quite clear.
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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
MARCH 12, 2019
For proponents of open banking , the regulatory initiative seen in the U.K. and Europe is a natural progression from the surge in FinTech solutions offered to consumers, small businesses and enterprises. While policymakers target protection and customer ownership of data, one of the most prominent selling points for open banking is the ability for data to move seamlessly between once-siloed platforms.
Payments Source
MARCH 12, 2019
When it comes to finding the right talent for a position, Debra Tenenbaum knows a few things about how to set someone up for success — even when the needs of the business change.
PYMNTS
MARCH 12, 2019
Chipotle Mexican Grill has teamed up with Venmo to expand its loyalty program amid huge growth of its digital platform. The quick-service restaurant (QSR) has introduced the points-based program, called Chipotle Rewards, in select markets, CNBC reported. CEO Brian Niccol said the rewards program was what Chipotle customers had most requested, and that the company has recently been putting more energy into its digital offerings.
Payments Source
MARCH 12, 2019
To successfully create new payment forms and uses, it’s critical to have a highly functioning team developing and promoting their ideas — something Colleen Taylor has fully embraced at Mastercard.
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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
MARCH 12, 2019
Western Union (WU) is bridging small businesses (SMBs) and entrepreneurs in Puerto Rico to cross-border payment services, the financial institution (FI) said on Monday (March 11). In a press release , the company said its Western Union Business Solutions unit is collaborating with TuChequera.com in Puerto Rico, linking entrepreneurs on the island to cross-border payment services that support more than 130 currencies.
Payments Source
MARCH 12, 2019
When longtime TSYS finance executive Theresa Gongora was promoted to CFO and senior vice president of TSYS' Merchant Solutions unit last year, she was struck by the dramatic changes in the payments industry since joining TSYS 15 years ago.
PYMNTS
MARCH 12, 2019
A new study by eMarketer says more than half (51.3 percent) of U.S. households will have Amazon Prime memberships this year, a number that would equal 63.9 million households in total. Prime membership growth will be driven by lower-income households and other Prime holdouts, who will be enticed by Amazon’s payment installment plan and other offerings.
Payments Source
MARCH 12, 2019
Driving rapid consumer adoption of faster payments and the bank-run person-to-person payment network, Zelle, has been a core role for Early Warning’s Lou Anne Alexander over the past decade.
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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
MARCH 12, 2019
For physical retail, and department stores in particular, it’s both the best of times and worst of times. The headline topping the news this week was that, in 2019, more than 4,800 retail locations have or will close. Furthermore, reports of weak holiday sales results from department stores in the U.S. and U.K. certainly don’t make for compelling reading for retail executives.
Payments Source
MARCH 12, 2019
Walmart has a good grasp of where it sits among global retail giants, but its position among the financial services industry is still evolving under the guidance of Karla Allen, its senior director of payments innovation.
PYMNTS
MARCH 12, 2019
Mastercard announced Tuesday (March 12) that it has inked a deal to acquire Ethoca , a global provider of technology to identify and resolve fraud in digital commerce. Terms of the deal, which is expected to close in the second quarter, were not disclosed. In a press release , Mastercard said Ethoca enables merchants and card issuers to collaborate in real time to fight digital commerce fraud.
Insights on Business
MARCH 12, 2019
Every day, I have the privilege of working with many businesses across Europe. Most of these people have either started or are considering a change around the compensation/reward processes and tools. These organizations are looking to understand the benefit and return on investment that can be seen through automating the process. Factors such as revenue increase, cost reduction of better employee engagement are all discussed and referenced.
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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
MARCH 12, 2019
Approximately 40 million Americans move each year for a variety of reasons. While the moving industry is predicted to reach roughly $18 billion in value by the end of 2019, it still encounters payment frictions when it comes to compensating workers. Some consumers utilize marketplaces like Craigslist to find movers, who typically request payments in cash, which opens the door for both parties to disagree on how much is owed once jobs are completed.
Payments Source
MARCH 12, 2019
A good way to gauge the future is to watch where technology money goes, and that makes Janet Bannister one of fintech’s best barometers.
PYMNTS
MARCH 12, 2019
The U.K.’s efforts to inject competition in the small business banking and financial services sector have culminated in a range of initiatives, from the bank referral scheme to strengthen the position of alternative lenders in the market, to the RBS fund that sees rivals and industry newcomers securing financing to improve their services. The competitive landscape has shed light on rising demand among small businesses for digital services.
Payments Source
MARCH 12, 2019
Two years ago, Ellen Richey became Visa's vice chairman and chief risk officer, propelled to this role by over a decade of work that fundamentally changed how the average consumer makes a payment. Richey plans to retire this summer, ending a 40-year career in law and risk management.
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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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