Tue.Mar 12, 2019

How Wells Fargo Uses AI, Biometrics To Fight Money Laundering


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.

BI Ignite 2019: ID Verification Startup Diro Wins DEMOvation Challenge

Bank Innovation

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.

Helping Community Banks Turn On The Innovation Switch


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 ).

Using Data Meaningfully on the To-Do Lists of Banks and Fintechs Alike

Bank Innovation

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

BigCommerce Takes On B2B eCommerce


Online commerce solution provider BigCommerce is adding business-to-business eCommerce to its suite of services.

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Transforming SPM at the IBM Sales Performance Management Summit London

Insights on Business

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.

Mastercard Buys Ethoca To Boost Fraud-Fighting Chops


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.

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More Trending

Chipotle And Venmo Link Up For Loyalty Program


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.

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Capital optimization for desk restructuring under FRTB

Insights on Business

Earlier this year the Basel Committee published its final of the final (until further notice?) review of the capital requirements for market risk regulations, namely the Fundamental Review of the Trading Book (FRTB).

Amazon Prime To Top Half Of All US Households This Year


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.

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Things worth reading: 12th March 2019

Chris Skinner

Things we’re reading today include … Wells Fargo’s CEO says the bank has changed.

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MoviePass Unsure Of Subscriber Count


The company that owns MoviePass admitted on Tuesday (March 12) they are unsure of how many paying subscribers are using the service. Bloomberg reported that in a filing, Helios & Matheson Analytics Inc. said it made a mistake in reporting $5.9 million in revenue from suspended subscriptions.

Fame, feeling and fluency are the weapons to SME banking mass-market domination

Daily Fintech

According to an Adaptive Labs research report , 55% of SMEs would definitely pay more for banking services that were simple and easy enough to use, to free them up to get back to doing the bits they love, and a further 34% would consider it.

PayPal’s Path To Instant Money In The Bank


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.

Meet Marta Czerep, a FICO Data Scientist in the DataIQ 100


One of the leading data scientists in the UK is Marta Czerep, a senior manager in the EMEA Analytic Consulting Team for analytic software firm FICO, who has been named one of the DataIQ 100 for 2019.

How Disbursements Are Moving Movers Toward Professionalism


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.

AfDB 2019 Annual Meetings set for Malabo, Equatorial Guinea


The African Development Bank, the leading development finance institution on the continent, has announced that it will hold its 2019 series of annual meetings from 11 to 14 June in Malabo.

Pan European Regulator: Key Weapon In Money Laundering War?


Among the latest headlines swirling in FinTech: Digital bank Revolut, based in the United Kingdom, has taken on an adviser, along with filling new positions, to bolster compliance teams at the firm.

The Most Influential Women in Payments, 2019

Payments Source

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. Women in Payments Mobile payments Digital payments Faster payments Payment processing Cross border payments Retailers U.S. Canada U.K. France

InComm To Enter Lottery Industry With Linq3 Acquisition


Payments technology company InComm has acquired Linq3 Technologies with the purpose of entering the lottery industry, the company announced on Tuesday (March 12). Linq3, founded in 2007 in Atlanta, develops, builds and markets traditional and digital lottery products.

Janet Bannister, Real Ventures

Payments Source

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. Women in Payments Venture funding Venture capital Digital payments Canada

For Omnichannel, The Revenge Of Brick-And-Mortar


To lift a few lines from T.S. Eliot, “between the idea and the reality … life is very long.” That sentiment is a good place to start when thinking about commerce, specifically omnichannel — an idea that has come, and perhaps keeps coming, and where the reality has yet to catch up to that promise.

Change is coming: Are you ready for Windows 10?

ATM Marketplace

Although some financial institutions have implemented the transition already, many have decided to wait it out. But with Microsoft set to end support for Windows 7 in less than a year, there's no time like the present to make the switch and avoid ATM service delays

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US Treasury: Taxes On Digital Companies Are Discriminatory


A U.S. Treasury official said a French tax plan targeting American digital companies is discriminatory against American businesses. Reuters reported that Chip Harter, the U.S.

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Risks never sleep – Be a Risk Keeper

Perficient Financial Servies

Nothing is too low for a bear. A bear doesn’t probably love to chase and hunt their prey. They are fond of any sorts of flesh and easily pick you when you are asleep. Bears can be predators even though they don’t have many enemies.

Stash Launches Mobile Bank With Stock-Based Rewards


Stash, the FinTech aimed at simplifying how people save and invest, announced Tuesday (March 12) the launch of its mobile-first banking service that comes with a rewards program, enabling customers to invest as they spend.

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Mastercard to buy Canadian fraud-detection firm Ethoca

Payments Source

Mastercard is bringing Ethoca—a fraud solution powered by collaboration between banks and merchants—in-house. Fraud detection Fraud prevention Payment fraud M&A Mastercard Ethoca Canada U.S.

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AliExpress To Let Shoppers Use M-Pesa; CreditDigital Notches £2 Million Investment


Welcome to The Axis, your late look at payments news from around the world. Coverage includes Safaricom ’s deal to let shoppers pay for goods on AliExpress.com through the M-Pesa mobile payment service, denominated in Kenyan shillings.

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Case Study: How Founders Federal Credit Union Uses ATM Trackers

ATM Marketplace

In this case study, you will explore the different challenges Founders Federal Credit Union they have faced, how they use ATM Trackers to thwart thieves, and the results they are experiencing utilizing 3SI's tracking technology

How SMB FinTech Firms Boost Data Sharing Without Open Banking


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.

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Plane Perspectives: Ethiopian Flight ET302 and the Boeing 737 MAX


Air crashes are always surprises, but the news, from the Prime Minister of Ethiopia’s twitter account, that Ethiopian Airlines Flight ET 302 flying from Addis Ababa to Nairobi on the morning of Sunday, March 10 had gone down, was particularly shocking.

UPI, NIBank Partner For Latin American Payment Solutions


UnionPay International (UPI), a cross-border payments company based in China , has signed an agreement with Latin American bank NIBank to bring payment solutions, including prepaid cards, to the region.

Swift's message to banks on dual standards: Do both

Payments Source

Ideally, Swift would like to see its worldwide bank network fully adopt its Global Payments Innovation initiative as well as the ISO 20022 messaging standard for cross-border payments. Network rules Cross border payments SWIFT

Instacart Expands Alcohol Delivery Across The U.S.


Instacart, the online grocery company, announced Tuesday (March 12) it has expanded alcohol delivery for customers across the U.S. In a press release , Instacart said customers in 14 states, as well as Washington D.C.,

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PayPal expands Instant Transfer to bank accounts

Payments Source

PayPal is expanding its Instant Transfer service beyond debit cards, establishing a service for instant money movement from PayPal accounts to bank accounts. Real-time payments Online payments PayPal

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Western Union Links Puerto Rico Entrepreneurs To Cross-Border Payments


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.

Forget cash, this debit card offers 'stock back'

Payments Source

The rewards card offered by the fintech Stash will let users accumulate stock of companies at which they frequently shop. The company said Tuesday that it has raised $65 million from investors and will offer the card in partnership with Green Dot. Debit cards Payment cards Loyalty and rewards Fintech Stocks Green Dot

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