Thu.Aug 31, 2017

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First FitBit, Now Garmin Releases Smartwatch with Payments

Bank Innovation

EXCLUSIVE – Add another fitness focused tech wearable to MasterCard’s list. Today, wearable maker, Garmin International announced a new smartwatch, Vivoactive 3, that will have a contactless payment feature for MasterCard users. Visa is supporting payments for he device as well. The Olathe, Kansas-based Garmin announced the new smartwatch today at the International Franchise Association’s […].

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What makes DBS different?

Chris Skinner

I just had a whirlwind visit to Indonesia to support DBS in the rollout of their digibank service there. It was a very short visit, but a packed evening of presentations and discussions. Part of the time was spent with Piyush Gupta, the CEO, who I’ve been watching for some … The post What makes DBS different? appeared first on Chris Skinner's blog.

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Credibly Continues Growth With $500M Origination Milestone, BizFi Portfolio

Bank Innovation

EXCLUSIVE — Leading “fin-data” SMB lender Credibly will now be servicing the portfolio of competitor lender BizFi, adding BizFi’s $250 million portfolio and 5,200 merchants to its platform. Along with the BizFi decision, Credibly also announced today that it has hit $500 million in originations to tens of thousand of SMBs, a milestone for the […].

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EY To Use Blockchain For Auto Industry, Ride-Hailing Services

PYMNTS

Blockchain, the technology that makes cryptocurrency like bitcoin possible, is moving into the auto and ridesharing markets. According to a news report in Reuters , EY, the consulting unit of Ernst & Young Global, announced Wednesday (Aug. 30) it is launching a blockchain system that will let companies and/or individuals share vehicle ownership more easily.

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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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Amex Creates New Tools to Entice Debt-Wary Consumers

Bank Innovation

American Express has tailored new features aimed at luring more budget-conscious consumers into taking on credit card debt. The features, announced yesterday, include an option that allows users to separate bigger financial transactions from smaller, everyday purchases — separating the purchase of something like a plane ticket away from buying lunch, for instance.

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More Trending

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Royal Bank of Scotland to Open Innovation Lab in London

Bank Innovation

EXCLUSIVE- Royal Bank of Scotland will unveil an Open Experience center in London to facilitate interaction with fintech entrepreneurs, Kevin Hanley, Head of Innovation at the bank told Bank Innovation. Royal Bank of Scotland has been making a concerted effort not only to adapt to changing landscape of banking, but also to extend relationships with […].

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Carrier billing in Asia: 2017 market report by Fortumo

Payments Dive

This market report gives an overview of the carrier billing landscape of Asia covering Indonesia, Pakistan, Bangladesh, Philippines, Vietnam, Thailand, Myanmar, South Korea, Malaysia, Taiwan, Cambodia, Hong Kong and Singapore.

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Plaid Introduces New SDK Tool

Bank Innovation

Fintech company Plaid, which offers APIs to fintech companies that enables them to develop apps, is now offering a new tool that lets enterprise developers do the same. According to a report today by TechCrunch, this new Software Development Kit (SDK) allows developers in companies with no financial background to a build banking functionality into […].

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Fed’s Sapenaro On How To Forge Ahead With Payments Innovation

PYMNTS

With the financial services space shifting from a competitive nature to a collaborative spirit between traditional banks and emerging FinTechs, one major stakeholder in the payments industry has quietly been an integral part of this co-op: the Federal Reserve. With initiatives like the Faster Payments Task Force and the Secure Payments Task Force, the Fed is pushing for innovation and progress in the nation’s payments infrastructure and market.

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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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WEX Gains EU E-Payment License

Bank Innovation

Corporate payment provider WEX has secured an e-payment license from the Financial Conduct Authority, an E.U. Regulator. The license makes its possible for the company to offer payments within Europe, as well as making it a principal member of Mastercard for that market. The Electronic Money Institute or EMI license, announced by the company yesterday, […].

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Examining The Generational Differences Between Retail Consumers

PYMNTS

Retailers trying to bridge the growing gap between the shopping trends of Baby Boomers, Generation Z and every demographic in between may think they have the different generations figured out, but in some cases, operating on assumptions can lead to missed sales. While some well-worn stereotypes of these groups may have truth to them, others are completely off-base, and retailers can’t tailor experiences to shoppers if they don’t know what those shoppers want.

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Leading the API Bandwagon in APAC: The Connect2OCBC Story

Let's Talk Payments

The financial services ecosystem is evolving at a rapid pace. As banks set sail on their digital transformation journeys, the API revolution is at the core of this overhaul. Let’s.

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Apple To Let Chinese Consumers Pay For App Purchases Via WeChat Pay

PYMNTS

Tech giant Apple is embracing WeChat Pay, giving consumers in China more ways to pay for purchases. The WeChat Pay digital payment service is offered by China-based investment holding company Tencent. According to a report in The Wall Street Journal , Apple said in a statement it is “committed to offering customers across our ecosystem a variety of payment options that are simple and convenient.” .

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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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Banking the unbanked in India

Insights on Business

Banking in India is in the midst of a major reinvention, a digital reinvention to be exact. Prime Minister Narendra Modi promised in 2014 to end “financial untouchability” and launched a government campaign to reduce the forty percent of the population without access to basic banking services. Since this government program was implemented, almost 300 million households have opened formal bank accounts for the first time in the South Asian country of 1.3 billion, including a Guinness World Record

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Retail Works To Aid Harvey Victims

PYMNTS

When the going gets tough, America’s retailers and restaurants get going. Food companies nationwide have poured out assistance to those affected by Hurricane and Tropical Storm Harvey, feeding emergency workers, donating meals and working overtime to get grocery stores and restaurants open again in the greater Houston area and Southeast Texas.

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Politics, digitization will require new data models

Payments Source

Between Brexit, Dodd-Frank uncertainty and the mobile revolution, issuers and financial services companies must combine past performance data and forward-looking information to gain insight, writes Henri Wajsblat, director and head of financial services at Anaplan.

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Visa Powering Payments on New Garmin Wearable Aims to Stop ‘Sweaty Money’

PYMNTS

Keeping up with the wearables/payments/fitness players is a workout in and of itself. Add Garmin to the mix with a new device, the vivoactive3. Visa said that it is enabling payments on the smartwatch, thus allowing tap and pay functionality, similar to other devices out in the market from the likes of Samsung and Fitbit. In a release Thursday, the company said the device is the first wearable from Garmin that features Garmin Pay.

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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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How Android Pay gave itself a new identity

Payments Source

On the surface, Android Pay may not seem that different from the Google Wallet launched four years before it. Ultimately, it took the failure of multiple mobile wallets for Android Pay to find its own path.

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SMBs Gear Up For Phase Two Of Same-Day ACH Rollout

PYMNTS

September will be a big month for NACHA’s Same-Day ACH initiative. On Sept. 15, NACHA will roll out phase two of its Same-Day ACH Rule, and small businesses stand to gain significantly from the effort, according to reports at Nav.com. The publication highlighted the upcoming rollout in an article Wednesday (Aug. 30), noting that phase two offers businesses the ability to receive faster ACH debit and credit payments.

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The impact of GDPR: A new regulation for a new world

Bobsguide

The European Union’s new data protection regulation, the GDPR, gives EU citizens ultimate control over their personal data. But when did we lose control? And why? In the second of a two-article series Ben Gould, Managing Director, EMEA & APAC, Opus Global, examines how social and.

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Mastercard Brings Payments To Garmin Wearables

PYMNTS

Consumers who track their physical activity with Garmin’s Vívoactive 3 wearable device will be able to pay for items digitally, as a result of a new partnership between the brand and Mastercard. Fitness fans who use the smartwatch can tap the device at almost 6.6 million contactless terminals worldwide, according to a press release issues this morning from Mastercard.

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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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Payment apps' stickiness threatens banking's hold on consumer branding

Payments Source

PayPal is among the top non-bank financial brands, though that may soon change as other challengers gain ground, writes Hannu Verkasalo, founder and CEO of Verto Analytics.

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OfferUp And Building A Better Goods Swap

PYMNTS

Everyone has problems, and an awful lot of people are good at solving them. What separates entrepreneurs from the rest, though, is often their desire to solve a problem not just for themselves, but for everyone else who comes up against the same issue. Nick Huzar, CEO and founder of OfferUp , is a clear case-in-point. A little more than six years ago, Huzar was trying to come up with ways to get rid of some basically serviceable, but also unwanted, stuff.

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Double-Digit ATM Compromise Growth Continues in US

FICO

While data breaches and ransomware grab the headlines, we’re still seeing fraud growth due to ATM compromises in the US. The fraud growth rate has slowed down from the gangbusters surge we saw in 2015, but consumers and issuers still need to pay attention. The latest data from the FICO ® Card Alert Service , which monitors hundreds of thousands of ATMs and other readers in the US, shows a 39 percent increase in the number of cards compromised at US ATMs and merchants in the first six months of 2

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Apple Tracker: Will New iPhone Software Bar Be A Drag?

PYMNTS

Something’s different about the forthcoming iPhone 8. We can’t put our finger on it. Maybe because Apple has finally killed the last front-facing button on its smartphone and with it, TouchID authentication. Plus, hear the new voice of Siri, find out where Apple’s automotive engineers just rolled up and see which supply chain partnership the tech giant wants to forge by tomorrow – in this week’s Apple tracker.

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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.