Chris Skinner
MAY 20, 2019
Another few articles I’ve picked up this week have focused upon the new generation of consumer: Gen Z. I would call them the iGen but that’s too branded, so marketers call them Gen Z. Who are the Z Gen? As of 2019, the breakdown by age looks like this: Baby … The post Are you focused on the right customer? appeared first on Chris Skinner's blog.
South State Correspondent
MAY 20, 2019
BANK EMAIL BENCHMARKS Send a bank marketing email out, and chances are 15% never reach the prospect’s inbox. That is not bad considering that it used to be above 25% just a couple of years ago. Bankers have been working hard at collecting email addresses and managing the distribution list. The work is starting to pay off. Email is one of the most effective forms of marketing we do, and the plan is to do more of it in the next year.
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Chris Skinner
MAY 20, 2019
Things we’re reading today include … Bank Stress Tests Are Getting Less Stressful ABN AMRO signs on Accenture and ING Bank for its blockchain inventory platform London is still the UK’s golden goose – and that needs to change | Jack Brown Wirecard document points to reliance on 3 partners … The post Things worth reading: 21st May 2019 appeared first on Chris Skinner's blog.
South State Correspondent
MAY 20, 2019
More Accurate CRE Underwriting Whenever your bank is looking at underwriting commercial real estate (CRE), you are probably looking at a variety of macro factors such as rent and occupancy trends, absorption, and capitalization rates. However, since we see hundreds of underwriting packages a month from a variety of banks across the country, it is rare that we see banks, and even borrowers, adjust rents for new construction.
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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
MAY 20, 2019
Mobile commerce might just be the key to saving brick-and-mortar stores. Consumers use their smartphones to shop for everything, everywhere – including using them to help them shop in-store. What’s more, consumers who use their smartphones while shopping in-store visit them more often than consumers who don’t. As much as 81.5 percent of consumers who do say they visit brick-and-mortar shops every day or every week.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
MAY 20, 2019
Vending machines, increasingly, are ditching the dollar bills in favor of payments rendered in bits and bytes. Kiosks are increasingly becoming part of the retail landscape. As reported in the latest Unattended Retail Tracker , done in partnership between PYMNTS and WorldNet Payments, unattended retail is gaining traction worldwide, on the heels of growth in consumer demand and as employers look to increase their operating profits.
Bank Innovation
MAY 20, 2019
Business banking startup Azlo and digital lender Kabbage are teaming up to offer loans to small business customers, including those underserved by the big banks. The two companies inked the partnership, called Mission Street Capital, late last week. Their pitch is a fully digital tool that offers access to working capital for gig economy business […].
PYMNTS
MAY 20, 2019
Large U.S. banks are seeing a deterioration in commercial lending portfolios for the first time in three years, according to a report by the Financial Times. The news is making some investors worried about whether it’s the start of a trend, considering the relatively strong state of the economy. Ten of the biggest commercial lenders saw non-performing loans rise 20 percent in Q1, or about $1.6 billion.
Bank Innovation
MAY 20, 2019
Cross-border B2B payments provider TransferMate announced today that Wells Fargo will use its Global Invoice Connect platform to provide the bank’s U.S.-based commercial banking clients the ability to receive payments in U.S. dollars from their global customers. TransferMate, founded in 2010, collects funds from customers located in more than 50 countries around the world through […].
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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
MAY 20, 2019
The number of ATMs installed during 2018 declined by 1 percent on a worldwide basis, found RBR, the research firm. In a press release , RBR said the number of ATMs stood at 3.24 million at the end of 2018 and that the decline was due to branch closures and growing popularity of mobile payments. In RBR’s new Global ATM Market and Forecasts to 2024 report, it found the number of ATMs declined in four of the five largest markets last year.
Payments Source
MAY 20, 2019
While the European Union positions itself as one common, homogeneous market, the reality is that the European e-commerce market is very diverse with both leaders and laggards.
PYMNTS
MAY 20, 2019
NCR, the payments company that makes self-service kiosks, point-of-sale terminals and automated teller machines, among other payment devices, has reportedly tapped Bank of America Equities to find a buyer. Seeking Alpha , citing a DealReporter story, reported that Warburg Pincus has been in discussions with NCR during the past few weeks about a deal.
Ron Shevelin
MAY 20, 2019
While Starbucks may lead all retailers in terms of mobile payment adoption, more consumers now have the Walmart on their smartphones than the Starbucks app.
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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
MAY 20, 2019
The idea for an Apple Credit card, which made a splash when it was introduced at the March Apple event, has been around since at least 2004, when Steve Jobs was running the company, according to reports. Former creative director at Apple, Ken Segall, revealed the news in a blog post on Monday (May 20). “The year was 2004, when Apple was a very different company.
Payments Source
MAY 20, 2019
Visa’s recent green light from U.K. regulators to complete its Earthport acquisition was more than just the clearing of a regulatory hurdle — it was a revealing look at how important it has become for the card networks to diversify.
PYMNTS
MAY 20, 2019
According to the European Union Chamber of Commerce in China, incidences of European companies being “forced” to transfer technology in China are on the rise. That’s despite the denials of Chinese officials and executives that such transfers – where companies wind up transferring their tech and know-how in order to do business in that country – are not a problem.
Bobsguide
MAY 20, 2019
Financial services firms are pulling together data from silos to create a holistic view of their clients, having been emboldened by new technological capabilities and regulatory nudging from rules like the general data protection regulation (GDPR), says Steve Elliot, managing director of LexisNexis.
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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
MAY 20, 2019
As 5G deployments start, retailers and other companies and organizations around the world are striving to find what works. One of the latest such projects combines the new mobile network technology with facial recognition and vending machines — a possible glimpse of the 5G future. The effort reportedly involves China-based UTStarcom and China Mobile Group, and a “refrigerated vending machine” called goBox.
Payments Source
MAY 20, 2019
Universal standards such as the nonprofit nexo can support card payment acceptance stakeholders through a portfolio of implementation specifications and messaging protocols that harness the power and interoperability potential of the ISO 20022 standard.
PYMNTS
MAY 20, 2019
Amazon has won a lengthy fight against eight Latin American countries for the provisional ability to use the.amazon domain name, according to a report by the Financial Times. The dispute has gone on for about seven years. The Internet Corporation for Assigned Names and Numbers (ICANN) sided with Amazon over the Amazon Cooperation Treaty Organization (ACTO), a coalition of governments in Latin America that argues the name “Amazon” refers to their own geographic region and should be theirs.
Bobsguide
MAY 20, 2019
While many in the industry are lobbying for a delay in initial margin requirements for non-cleared derivative trades, Patrick Pearson, head of the financial market infrastructure and derivatives unit at the European Commission says the regulation is inevitable and smaller firms must accelerate their.
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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
MAY 20, 2019
Wagestream, a U.K. startup, has raised $51 million (£40 million) to help U.K. workers who only get paid once a month but need to draw funds from their wages, according to a report. About 85 percent of all paychecks in the country are disbursed monthly, and the trend continues to rise in popularity as employers deal with rising payroll costs. Wagestream works with employers to allow workers to pull out a percentage of their income for a flat fee of £1.75 per withdrawal.
Bobsguide
MAY 20, 2019
Financial services firms are pulling together data from silos to create a holistic view of their clients, having been emboldened by new technological capabilities and regulatory nudging from rules like the general data protection regulation (GDPR), says Steve Elliot, managing director of LexisNexis.
PYMNTS
MAY 20, 2019
TransferMate Global Payments, the cross-border B2B payments provider, announced Monday (May 20) it inked a deal with Wells Fargo to deliver its Global Invoice Connect platform for U.S. based international businesses. In a press release , TransferMate said its Global Invoice Connect Platform enables U.S. businesses to receive payments from global customers for a lower cost.
Bobsguide
MAY 20, 2019
The role of client and counterparty risk management has assumed greater strategic importance over the last few years in light of heightened regulatory scrutiny and the introduction of new rules around AML/KYC, ultimate beneficial ownership, global data privacy and investor protection rules. With the.
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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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