Mon.Oct 30, 2017

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BankMobile to Seek Fintech Partnerships After ‘Merge’ with Flagship Bank

Bank Innovation

EXCLUSIVE—Mobile-first U.S. bank BankMobile will look to add new features to its platform through partnerships with fintechs after its merge with Flagship Bank is finished, the company told Bank Innovation. “We want to be able to partner with the best in breed, partner with other fintech companies,” Luvleen Sidhu, co-founder and president of BankMobile, told […].

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E-COMMERCE: Control Your Mobile Destiny

Payments Dive

Mobile marketplace aggregators can provide consumers with a great overall experience, but only if partners can offer the same level of service.

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Westpac First Large Australian Bank to Create its Own Wearable Devices

Bank Innovation

Australian bank Westpac has created its own line of wearable devices, under the name ‘PayWear,’ to enable ‘tap and pay’ payments for its customers. Westpac PayWear, a wrist band, does not rely on Apple or Samsung Pay, or other mobile wallets, but is rather a range of devices made by the bank itself. The devices […].

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Things worth reading: 31st October 2017

Chris Skinner

Things we’re reading today include … Wall Street falls on political uncertainty How would Catalonia go about creating its own currency? HSBC says it will wait as long as possible before moving jobs out of UK Assets of the world’s rich to hit $145 trillion by 2025 as an aging … The post Things worth reading: 31st October 2017 appeared first on Chris Skinner's blog.

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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

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The Allure of Credit Card Rewards and Cash Back

Bank Innovation

EXCLUSIVE – October saw a plethora of new credit cards. From traditional banks such as HSBC releasing its Premier World Elite Mastercard Credit Card, to ride-share app Uber’s first foray into the market, it seems like everyone is interested in launching a new credit card promising to deliver what the other doesn’t. The distinction each […].

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Japanese Regulator Warns of ICO Risks As Bitcoin Tops $6,000

Bank Innovation

Japan is the latest country to express concern over initial coin offerings and cryptocurrency, with its regulatory body the Financial Services Agency, or FSA, sending out a statement on the risks of ICOs to potential investors. The statement, which was released on Friday, October 27th, warned that investors should be aware that “the price of […].

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Apple Engineer Fired After Revealing iPhone X Details

PYMNTS

An Apple engineer was reportedly fired last week after his daughter posted a video of the iPhone X before it was released, reported the Verge. According to the news report , the engineer’s daughter, Brooke Amelia Peterson, visited Apple’s campus to see her father and recorded a video of the iPhone X. She then published a vblog that included the trip to Apple.

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Nordea’s Massive Job Cut Is Not the Last of Its Kind for the Banking Industry

Bank Innovation

Nordea Bank AB’s massive job cut is just the beginning of what might become of the banking industry, according to the bank’s CEO Casper Von Koskull. In an exclusive interview with Bloomberg released Sunday, Koksull said: If somebody says, where are we, or where are banks, 10 years from now, banks could easily have half […].

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Finding The Right Loot For A Rarified Audience

PYMNTS

They say it’s the golden era of the American geek. There’s a new Star Wars scheduled to be released every year between now and the end of eternity, super hero movies are now the fall alternative to the ponderous think pieces that seek out Academy Awards and streaming services exist to feed the geek need for media. And, in an environment where geek taste is ascendant, there is Loot Crate , the subscription service meant to keep geeks well-supplied with the nerdy memorabilia and specialty items t

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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

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The Disruption Hypothesis

Let's Talk Payments

M-commerce, given its relatively one-dimensional nature involving the consumer and a provider, is relatively easy to figure out. After years of trial and error, some of the challenges related to.

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Millennial Entrepreneurs’ Optimism Is Booming — Here’s Their Top Concern

PYMNTS

As millennials continue to grow their presence in the small business (SMB) community, the dynamics of SMB finance are also changing. According to some experts , millennial small business owners no longer accept mediocre or sub-par services from their financial providers. They demand technology and an all-around better banking experience. Whether financial institutions are ready or not, the millennial entrepreneur is a rising force in their customer base.

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How regtech is creating new relationships between global service providers and technology firms in the search for revenue

Bobsguide

On a recent flight home after a client meeting, I found myself thinking about what is really motivating global financial services companies in their decision-making around technology and regulatory compliance. In the highly competitive third-party administrator space, I think one of the primary.

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Chicago Developer Tries To Lure Amazon With Its Own Stadium

PYMNTS

Sterling Bay, a Chicago developer, is throwing in a sports and concert stadium into its proposal for Amazon’s second U.S. headquarters , in an effort to outbid the other cities vying for the project. According to a news report in the Chicago Tribune , the developer’s Lincoln Yards project includes the ability for Amazon to have a stadium at its headquarters.

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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.

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Quantifying Decentralization: Bitcoin vs. Ethereum [Video]

Let's Talk Payments

Can we actually quantify decentralization? Balaji Srinivasan, CEO & Co-founder of 21.co, a company that allows you to replace your public email with an inbox that pays you, makes an.

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Bank Bailouts Haven’t Spooked Russian Corporates From Staying Local

PYMNTS

Russian companies are providing the nation’s banks with much-needed support amid a time of turmoil for the industry, according to news from Reuters last week. Central bank data analyzed by Reuters suggests corporate deposits at Russia ’s top 10 banks held strong as of Oct. 1 compared to a month earlier, despite the Central Bank of Russia (CBR) taking control of two major financial institutions (FIs), B&N Bank and Otkritie Bank.

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Old technology encourages confusing payment fees

Payments Source

It’s vital to work with a payment processor that fully discloses its pricing approach on its merchant statements, writes Jeff Zimmerman, COO of Clearent.

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Toys R Us Rolls Out Chain-Wide AR App

PYMNTS

Toys R Us , the nation’s largest toy retailer, is rolling out an augmented reality (AR) mobile app for smart devices, according to news from Chain Store Age. The application was tested in 23 locations earlier this month. Back in September, the company filed for bankruptcy in the hopes that it would be able to restructure its more than $5 billion in debt.

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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.

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What will the biggest challenge for treasurers be in 2018?

Bobsguide

Today’s treasuries face a raft of new hurdles and opportunities. We asked four leading treasurers to explain what they believe will be the biggest challenges in the year ahead. Tim de Knegt is the manager for strategic finance and treasurer for the Port of Rotterdam – the largest.

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AMEX’s CEO To Have Earned $370M Over The Past 17 Year

PYMNTS

Kenneth Chenault, the long-running chief executive at American Express, stands to have made more than $370 million during his years at the helm. According to a report in the Financial Times , citing data provided to the newspaper by Equilar, the pay consultancy firm, the longest-running CEO for a Dow Jones Industrial Average company will pocket $150 million in stock options and at least $104 million in shares.

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Southeast Fintech Venture Conference Announces Pitch Lineup

Let's Talk Payments

Major FinTech Hubs in the Southeast Represented Charlotte, NC – The inaugural Southeast Fintech Venture Conference Committee has selected the first batch of companies to pitch on November 20th. The.

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Things To Know: The Industries Getting Subscription Commerce Right (And Wrong)

PYMNTS

Subscription services are profitable for merchants. Making a one-time sale means receiving a one-time payment, but subscriptions mean that original sale results in months — sometimes even years — of consistent, regular revenue. The market for subscription services is increasingly competitive, however, and consumer experience is key for any merchant looking for an advantage in the space.

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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.

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PCI aims to keep up with fraud without falling behind innovation

Payments Source

Payments technology changes rapidly, and cybercriminal techniques have no trouble keeping pace. Against that backdrop, the Payment Card Industry Security Standards Council must set new rules without hindering development.

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Google CEO Responds To Burger Imbroglio

PYMNTS

Google’s cheese placement is stirring up a bit of controversy, according to news from CNN. Apparently, the tech firm’s version of a burger emoji displays the cheese slice placed below the meat patty, rather than on top. Writer and media analyst Thomas Baekdal called attention to the culinary gaffe in an Oct. 28 tweet that quickly went viral. “I think we need to have a discussion about how Google’s burger emoji is placing the cheese underneath the burger, while Apple puts it on top,” he wrote.

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European payment rules push banks to collaborate or perish

Payments Source

Relevance to the consumer is the challenge for banks in the post-PSD2 era and partnerships hold the key, writes Maikki Frisk, Executive Director of the Mobey Forum.

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China Tightens Oversight Of Online Financing Firms

PYMNTS

China is increasing regulations on websites that offer cash loans, amid growing concerns about lax regulation in the fast-growing market. According to Reuters , citing a report from China’s Caixin, Ji Zhihong of the central bank’s financial markets department said that the bank – along with other authorities – has created a special regulation for controlling financial risk on the internet.

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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.