Chris Skinner
JULY 2, 2019
An interesting report came out this week saying that UK consumers would access mobile banking apps more often than branches in the next two years. It got covered on the BBC, Sky News and lots of other media, but I was thinking in the next two years? It just shows … The post Mobile first is a no brainer, but what is digital first? appeared first on Chris Skinner's blog.
Payments Dive
JULY 2, 2019
The chaos surrounding the looming Brexit deadline is causing some fintechs and digital banks to take precautionary steps.
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Bank Innovation
JULY 2, 2019
Digital lender Kabbage, which offers small businesses lines of credit up to $250,000, has secured a four-year revolving credit facility to fuel further growth. The funding, provided by an undisclosed “leading life insurance company,” is the longest period of committed debt capital for the 10-year-old company and a major boost for its business model as […].
Chris Skinner
JULY 2, 2019
Things we’re reading today include … The rise of the CEO as social justice warrior | Jill Priluck Wall Street looks to earnings after strongest June in decades Breakdown of global trading system is looming, Australian economist warns Japan payment systems: paper qualifications Why Facebook’s Libra currency gets the thumbs … The post Things worth reading: 3rd July 2019 appeared first on Chris Skinner's blog.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Bank Innovation
JULY 2, 2019
As mobile banking encompasses an ever-increasing number of features, banks are navigating how not to lose the customer in the process. Initially, mobile banking was a way for customers to check account balances on their phones, but most banks have added personal finance, investments and check deposit features in recent years. Banks are trying to […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JULY 2, 2019
British banking startup OakNorth is growing its consumer deposits base through a partnership with robo-adviser Moneybox in an effort to offer a savings account geared at millennials. The Cash Lifetime ISA, available via the Moneybox app, has an interest rate of 1.4%, which OakNorth and Moneybox claim is market-leading. The account is meant to help customers […].
Abrigo
JULY 2, 2019
The following article is based on the whitepaper, The Ag Lender’s Survival Guide by Rob Newberry, SVP of Credit Risk Services at Abrigo. To download the whitepaper, click here. Today, most of farmers’ cash reserves that were built up in 2012-2014 are at, or nearing, depletion. If that trend continues, operating costs will begin outpacing revenue for many farms, and demand for ag financing will grow for community financial institutions.
PYMNTS
JULY 2, 2019
Real-time payments (RTP) is a global initiative that’s been a decade in the making and counting, one that has gained momentum over the last several years. More than 50 countries are actively pursuing, piloting or already live with real-time payment programs. Just last week, the Nordic region — an area that includes Denmark, Sweden, Norway and Finland — took real-time payments up a level through an initiative led by the P27 Nordic Payments Platform , which is owned by Danske Bank, Handelsbanken,
Payments Source
JULY 2, 2019
Seamless transactions are the key to engaging and holding onto consumers, something Amazon, Dunkin', and other companies like ExxonMobil do very well, says Tim Tynan, CEO of Bank of America Merchant Services.
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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
JULY 2, 2019
Thanks to the digital economy and its supporting technology, we can say we are in the “golden age” of this and that. The golden age of delivery and quick fulfillment. The golden age of product reviews and price comparisons. What about the golden age of age verification? No, that doesn’t sound as exciting as the rest, and conjures up memories of those sloppy fake IDs in high school and college, or having that ne’er-do-well uncle agree to buy minors a 12-pack.
Payments Source
JULY 2, 2019
Cloud computing has boosted P2P and makes it easier for developers to build new businesses and payment technology, says Demetrios Zamboglou, BABB's chief operating officer.
PYMNTS
JULY 2, 2019
In a reported leak of billions of user records in a smart home data breach, researchers have found that a database that belongs to Chinese firm Orvibo has been left open without a password for protection. The database is said to encompass over 2 billion logs that include a range of information from account reset codes to user passwords, Forbes reported.
Payments Source
JULY 2, 2019
FamilyMart and 7-Eleven Japan are using mobile payment technology to compete with each other and attempt to manage the country's labor shortage.
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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
JULY 2, 2019
Financial applications have been making inroads in banking services — as far-flung as Asia and the U.S., in uses that embrace corporate activities and consumer lending. In South Korea, Woori Bank said this past week that it has debuted an online platform geared toward FinTech startup entrepreneurs and engineers who develop digital services, according to The Korea Times.
Payments Source
JULY 2, 2019
Seamless transactions are the key to engaging and holding onto consumers, says Tim Tynan, CEO of Bank of America Merchant Services.
PYMNTS
JULY 2, 2019
In investing, information is king. And the markets, according to some observers, digest info quickly, and stock prices discount that information with haste. Earnings season comes four times a year, and beyond the vagaries of stock movements, the commentary offered by management alongside the earnings numbers can be of special value in road-mapping what’s next for commerce, for the consumer and – thus by extension – for payments.
Payments Source
JULY 2, 2019
The rush to hold hearings in both the House and the Senate reflects broad skepticism across the political spectrum about the social network's plan to develop an alternative payment system.
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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
JULY 2, 2019
The 2008 global financial crisis forced traditional banks to pull back from small businesses (SMBs) considered too risky and unprofitable to finance, leaving a gap in the market for alternative lenders and FinTech firms to fill. In the years since, alternative lenders, FinTech firms and digital-first challenger banks have been working to capture the small business demographic.
Payments Source
JULY 2, 2019
It’s too early to measure the market effect of New York City's contactless payment acceptance pilot launched barely a month ago, but many merchants in the immediate area may not be ready if demand spikes.
PYMNTS
JULY 2, 2019
Bitcoin has dropped in value again to under $10,000 after a recent high of around $13,900, according to reports. The cryptocurrency’s loss means it pulled down the value of other premium coins with it, and none of them showed any rises at all. Value in bitcoin and other digital currencies surged recently after the announcement of Facebook’s Libra, a stablecoin tied to real currency.
Payments Source
JULY 2, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Paytm says it's not charging "convenience fees"; Flux adds restaurant technology; Austin upgrades transit pay; Revolut rounds up for donations; A new blockchain collaboration in Singapore.
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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.
PYMNTS
JULY 2, 2019
The Financial Supervisory Authority (FSA) in Norway has fined Santander, a Spanish bank, $1 million for violating Norwegian anti-money laundering (AML) statutes, according to a report by Reuters. The violations were found at the Santander Consumer Bank in Norway and involved a failure in an electronic monitoring system meant to check for money laundering.
ATM Marketplace
JULY 2, 2019
The sixth edition of the ATM Future Trends report, which includes the results of an extensive survey and industry insights from ATM thought leaders, is available.
PYMNTS
JULY 2, 2019
Supply chain payments firm Tradeshift is expanding capabilities for companies to manage employee spend with Tradeshift Go 2.0, the company announced Monday (July 1). Tradeshift said in a press release that its new “team version” of Go 2.0 is now live with enhanced functionality that expands visibility into employee spend and enables managers to connect their employees with virtual cards on demand.
Payments Source
JULY 2, 2019
Payoneer, which developed a platform to facilitate cross-border payments, hired FT Partners to explore options for expansion, including a private funding round, according to a person familiar with the matter.
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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.
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