Chris Skinner
APRIL 3, 2018
I’m launching the new book Digital Human in New York on the evening of April 12. If you would like to get a signed copy of the book, just register here. BTW, I’ve also heard a lot of people have been frustrated that Amazon cancelled their pre-orders of the new … The post Digital banks are 35+ times more productive than traditional banks appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 3, 2018
BitPay, a blockchain payments company, closed a Series B of $40 million yesterday, the company announced. The money, as previously mentioned by the startup, will go towards expanding its international operations. The first stop for this expansion will be Asia. BitPay named either Hong Kong or Singapore as its next potential market, as reported by […].
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Payments Dive
APRIL 3, 2018
Keith McAuliffe, the general manager of the financial services sector for Solace, believes it's necessary for providers to to cultivate the right experience for individual audiences.
Bank Innovation
APRIL 3, 2018
Open Banking is a buzzword — among bankers, anyway. Most customers have never heard of it, though they do want access to their bank account in other products, like the iTunes Store, Amazon, or Mint.com. Ron Shevlin noted on Twitter: I bet if I surveyed consumers and asked “Do you want “#OpenBanking?” a decent % […].
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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
Chris Skinner
APRIL 3, 2018
Things we’re reading today include … Jeweler to the Stars Flees as India Seethes Over Bank Fraud A Top JPMorgan Blockchain Executive Is Leaving the Bank Canada’s TD Bank Wants US Patent for Blockchain Point-of-Sale System Commonwealth Bank online glitch wipes ‘credit card balances’ Bank of America says Facebook is … The post Things worth reading: 4th April 2018 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
APRIL 3, 2018
Small business (SMB) banking is in need of an overhaul. Between the threat of FinTechs and small business owners’ increasing willingness to switch banking providers, financial institutions are waking up to the demand for better SMB services. But an increased focus on innovation means the path to understanding what actually constitutes “better” is unclear.
Bank Innovation
APRIL 3, 2018
JPMorgan Chase will be continuing its exploration of blockchain technology with new head Christine Moy, the bank said. Moy is a senior product manager in the bank’s Blockchain Center of Excellence, and will assume the leadership role after Amber Baldet announced her departure yesterday, Reuters reported. Baldet will go on to start her own venture, […].
PYMNTS
APRIL 3, 2018
Experts say an employee phishing scam is likely to blame for the data breach affecting millions of Saks Fifth Avenue and Lord & Taylor payment cards. Reports in The New York Times on Sunday (April 1) said experts believe a notorious ring of cybercriminals implanted software into the retailers’ register systems, allowing them to access card data for a year.
Bank Innovation
APRIL 3, 2018
EXCLUSIVE— A financial institution’s innovation is only as good as its partners, and more and more, FIs are finding the key to their next project or technology in what’s becoming a staple of open banking: the startup marketplace. Generally built via APIs with a fleet of tools, third-party providers and applications, these marketplaces allow participating […].
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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
APRIL 3, 2018
Panera revealed the data of millions of customers for eight months or more before removing it from the bakery restaurant’s website Monday (April 2), reported KrebsOnSecurity. According to KrebsOnSecurity, the data, which includes names, email and physical addresses, birthdays, loyalty card numbers and the last four digits of credit card numbers, was visible in plain text on the Panerabread.com website for anyone that was signing up to place online food orders from the website for pickup or deliv
Bank Innovation
APRIL 3, 2018
EXCLUSIVE - There is a lot to be said about keyboard applications and their untapped potential in the payments space. Hoping to bridge that gap is Aditya Haripurkar, who founded HitKey last June, and is currently looking to raise seed funding to scale the app. Based in city-state Singapore, HitKey provides white label keyboard software […].
PYMNTS
APRIL 3, 2018
How to bring mobile banking to the realm of the spoken word – beyond the mere recitation of account data, beyond call and response? Fiserv VP of digital banking Scott Domach says the robust voice banking experience embraces everything from bill payment push alerts to fraud alerts, but one thing rules above all: The principle of natural speech. Banking is, of course, about more than account balances.
Bank Innovation
APRIL 3, 2018
The Durbin Amendment to the Dodd-Frank legislation largely did way with debit reward programs (pour one out for PerkStreet.) Dodd-Frank is now under assault from all quarters in Washington, but looking fairly strongly entrenched. Still, debit rewards programs are making a comeback with the release of GoBank‘s Uber Visa debit card, announced today.
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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
APRIL 3, 2018
The industry and public were still reeling from the data breach that hit Saks Fifth Avenue and Lord & Taylor last week when another major breach stole the spotlight, this time at Panera Bread. Krebs on Security reported Monday night (April 2) that the fast-casual bakery/café chain had been leaking names, emails, addresses, birthdays and partial credit card numbers (the last four digits) from its website for at least eight months.
Bobsguide
APRIL 3, 2018
In a recent bobsguide article we discussed the changing role of the buy-side middle office. An increasingly critical middle office function is delivering accurate and timely position data to the front office and ensuring redundancy with outsourced back-office services. This article discusses the.
PYMNTS
APRIL 3, 2018
“Blame Amazon” may not be an entirely legitimate excuse for failing businesses, according to new research from Insureon and small business (SMB) directory firm Manta. Reports in The Motley Fool on Monday (April 2) found Amazon — despite being blamed for lower mall traffic, business downturn at mega-retailers like Toys R Us and heightened competition against small businesses — may actually be more beneficial than harmful for SMBs.
Bobsguide
APRIL 3, 2018
SWIFT gpi has taken the correspondent banking world by storm with about 11,000 banks in the SWIFT network. However, Ripple is said to offer superior technology and data to SWIFT. While many argue it is not a case of SWIFT versus Ripple, but a matter of which technology better serves clients, others.
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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
APRIL 3, 2018
In what The Wall Street Journal described as a form of nagging, Apple is prompting users of its iPhone to enroll in Apple Pay, which has created a mixed reaction from the public. Critics said the strategy may give rivals some opportunity against the tech giant. The prompts to enroll in Apple Pay are tied to the iPhone’s most recent operating system update, yet they’re subtle, reported the WSJ.
Bobsguide
APRIL 3, 2018
Imagine a world where you have to walk a long and winding road of complex, interlinked informational requirements just to optimize tax. A world where failure to tackle those stringent demands in the right way could result in fines and lawsuits for abuse of treaty or tax arbitrage.
PYMNTS
APRIL 3, 2018
With Facebook under intense criticism following the Cambridge Analytica data scandal, the company’s Chief Executive, Mark Zuckerberg, is pushing back against criticism from Apple CEO Tim Cook. CNBC , citing remarks Zuckerberg made during “The Ezra Klein Show” podcast, said the CEO argued that Tim Cook’s recent comments criticizing Facebook’s handling of the scandal with Cambridge Analytica and his questioning of the practice of monetizing user data on social media were “extremely glib.”.
Payments Source
APRIL 3, 2018
Employees still fall for phishing attacks, but there is technology that can remove the offending code before employees even view emails, writes Aviv Grafi, CEO of Votiro.
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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
APRIL 3, 2018
Lending FinTech GreenSky has confidentially filed paperwork for an initial public offering (IPO). The Wall Street Journal reported that the Atlanta-based company, which enables retailers, health-care providers and home contractors to offer loans to their customers, could go public as soon as this summer. Sources also said that GreenSky could attempt to raise $1 billion, which would be a rare feat.
Payments Source
APRIL 3, 2018
The timing is right, both for the technology and for Amazon, which has already demonstrated excellence on required customer journey points like a widely adopted Amazon app, writes Chris Ventry, a director for BRG Corporate Finance.
PYMNTS
APRIL 3, 2018
In a world that values sameness, doing something different is a risky proposition. But when it works, the rewards can be impressive. It’s why Walmart seems to be edging toward becoming a healthcare company and Coupa is preaching the gospel of crowdsourcing intelligence in organizations. Thinking creatively can make the world a better place — or at least one with warmer feet.
Payments Source
APRIL 3, 2018
The threat that mobile would displace plastic never came to be. But the new technology — often developed by retailers and other nonbanks — nevertheless forced issuers to take stock of their own offerings.
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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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