Chris Skinner
NOVEMBER 19, 2018
Emmanuel Macron faced protesters across France during the weekend, in a country where he has been dubbed The President of the Rich. What interests me is that title. The President of the Rich. Are not all governments, the governments of the rich? Isn’t that why we have the 99% for, … The post The 1% will always get richer appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 19, 2018
The number of financial technology companies is on a rise, and every year many of these new companies as well as established ones choose to situate themselves in cities that are not San Francisco or New York. In some cases, the establishment of one powerful player in a region automatically turns a place into a […].
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PYMNTS
NOVEMBER 19, 2018
Smartphones are now more ubiquitous than laptops and desktops. As many as 86 percent of modern consumers own a smartphone, and 23 percent of them shop on their mobiles. Many eTailers are looking to cash in on the smartphone’s ubiquity by optimizing their mobile sites, making it easier for consumers to navigate, find and pay for items. For bottom-performing merchants, mobile checkouts are an even higher priority.
Insights on Business
NOVEMBER 19, 2018
Artificial intelligence is changing the game. According to Stanford professor Andrew Ng , AI is the “new electricity,” already generating billions in value as it transforms industries such as IT, health care — and now financial services. Both fintech firms and traditional enterprises are on the brink of significant disruption as companies leverage the rapid insights generated by AI in banking to drive demonstrable outcomes in customer experience, risk management and cost efficiency.
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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
NOVEMBER 19, 2018
Cargill is a big name in turkeys in the United States: when Americans sit down for Thanksgiving dinner later this week, there’s approximately a one-in-four chance they will be digging into a Cargill bird. The Minnesota-based firm is a an old-school kind of company; founded in 1865, it sells a pretty old-school product, as Americans have been eating turkey on Thanksgiving Day since the 1800s.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
NOVEMBER 19, 2018
Snap, the maker of the disappearing messaging app Snapchat, announced Monday (Nov. 19) a partner program aimed at making it easier for brands to use and pay for augmented reality (AR) lenses. According to a report , the launch of this program to help advertisers find certified AR shops to create the digital product placements marks the first move after Snap opened up its lenses to outside developers nearly a year ago.
Payments Source
NOVEMBER 19, 2018
In the past few years the Chinese government has loosened restrictions on foreign travel, enabling millions of its citizenry to visit foreign lands. Along with a greater ability to travel is the enhanced prosperity Chinese consumers have reaped at home — and now bring with them on vacations to purchase foreign goods.
PYMNTS
NOVEMBER 19, 2018
During the holiday shopping season, countless consumers will use digital payments and commerce technology to buy gifts from distant companies — some overseas, some just in neighboring time zones — and have them shipped seamlessly to their destinations. But the same technology that enables those transactions also can bring the benefits of consumer intimacy to small and medium-sized businesses (SMBs) that are often struggling to win more market share in a retail world dominated by the likes of Ama
Bobsguide
NOVEMBER 19, 2018
The race to market domination is well and truly underway as fintechs rub elbows with established banks in the payments space. And the ideal conditions for fintechs seem to be converging to label 2019 a make or break year for the banks. From the regulators, a year on from PSD2, fintechs are.
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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
NOVEMBER 19, 2018
The bitcoin bust continued Monday (Nov. 19), with the price of the cryptocurrency falling to $4,905 by mid-afternoon, a decline of at least 12 percent. Over the past week, the price of bitcoin has declined some 20 percent — and at least 60 percent since January. “Bitcoin futures also hit their lowest levels since their introduction in December 2017, with Bitcoin CME November futures down to $4,855 and bitcoin contracts on the CBOE down at $4,878.10,” reads one report from Monday.
Bobsguide
NOVEMBER 19, 2018
According to a recent Europol report, combatting global money laundering continues to be a challenge. “The banks are spending $20bn a year to run the compliance regime … and we are seizing one percent of criminal assets every year in Europe”, Rob Wainwright, director of Europol.
PYMNTS
NOVEMBER 19, 2018
Walmart’s Q3 earnings last week was a story of strong digital sales and 16 consecutive quarters of same-store sales growth. Consumers, executives said, continue to walk into Walmart stores and add more things to their shopping baskets. That’s a lot of feet – belonging to some 140 million consumers globally (100 million or so in the U.S.), who each week walk into one of those physical stores, in addition to the 100 million who are said to shop one of the retailer’s online channels.
Payments Source
NOVEMBER 19, 2018
Part of the issue is that in the U.S., contactless cards didn't pave the way for mobile as they did in other regions. Without widespread acceptance of contactless cards, merchants were put in the position of being asked to upgrade their terminals for mobile without any promise that the investment would pay off.
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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
NOVEMBER 19, 2018
NACHA’s Payments Innovation Alliance released a report with details from its first formal in-person meeting of the Faster Payments Playbook Project Team. Launched in June 2018, the Faster Payments Playbook Project Team is comprised of nearly 60 volunteers made up of a diverse set of participants including financial institutions, technology providers, associations, networks and businesses.
CFPB Monitor
NOVEMBER 19, 2018
The CFPB has filed an amicus brief in the U.S. Supreme Court in support of the respondent/law firm defendant in Obduskey v. McCarthy & Holthus LLP, et al., a Tenth Circuit decision that held that a law firm hired to pursue a non-judicial foreclosure under Colorado law was not a debt collector as defined under the Fair Debt Collection Practices Act.
PYMNTS
NOVEMBER 19, 2018
Thanks to affordable mobile internet, the internet economy in Southeast Asia is expected to surpass $240 billion in 2025, according to a new study conducted by Google and Temasek Holdings of Singapore. According to the study — which looks at ride-hailing, eCommerce, online media and online travel in Singapore, Indonesia, Malaysia, Vietnam, Thailand and the Philippines — the internet economy will end this year with a market value of about $72 billion, which is 37 percent higher than a year earli
Bobsguide
NOVEMBER 19, 2018
On November 12, a prefix leak resulted in Google’s IP addresses being redirected to ChinaTel, according to a bobsguide source. “While this is a redirection of IP addresses of Google’s data for search and cloud services, it would have been a different story if it had affected.
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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
NOVEMBER 19, 2018
The World Blockchain Trade Consortium (WBTC) officially launched this week in Singapore with the aim to utilize blockchain technology to lower costs, reduce risk and increase funding to SMEs. According to Crowdfund Insider , WBTC was created by a group of non-bank financiers and an insurance firm, including National Credit Insurance Brokers (Australia, New Zealand, Singapore), Incomlend (Singapore), GTR Ventures (Singapore, Hong Kong, U.K.) and Portal Finance (Chile, Colombia, Mexico).
Payments Source
NOVEMBER 19, 2018
B2B transactions are still heavily reliant on checks, and a lot of fintechs hope businesses are ready to break the habit. Silicon Valley fintech Coupa’s part of the parade of innovation, offering a virtual card and a payments-as-concierge approach.
PYMNTS
NOVEMBER 19, 2018
Payment services providers and financial institutions are beginning their work in helping people recover from the California wildfires — with those disaster responses informed by experiences in previous wildfires and recent hurricanes. Visa , for instance, has launched its “ Back to Business ” tool in areas hit by the California wildfires , which as of Monday morning (November 19) were blamed for 77 deaths (with about 1,000 people still missing).
Payments Source
NOVEMBER 19, 2018
AI-driven analytics can help both pure-play and brick-and-mortar brands understand the frustrations of their users at an elemental level — which buttons remain unclicked, which form fields make them leave, and which customer paths are dead ends, writes Jonathan Cherki, CEO and founder of ContentSquare.
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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
NOVEMBER 19, 2018
Subscription commerce stands as one of the hotter parts of retail, with companies such as Lyft launching subscription plans and other firms expanding their existing subscription services. But news involving lingerie retailer Adore Me shows how the model, if not handled properly, could lead to angry consumers and declines in brand reputation. In a CNBC story on Monday (Nov. 19), customers who didn’t realize that they had signed up for Adore Me’s monthly subscription plan talked about overdrafts a
Payments Source
NOVEMBER 19, 2018
Data from real-time payments creates powerful opportunities for upselling and cross-selling because it reveals what, when, and how people and businesses actually consume, writes Michael J. Alfonsi, senior vice president of digital solutions and strategy at Exela Technologies.
PYMNTS
NOVEMBER 19, 2018
To help customers find toiletries that are ready to take flight, eCommerce retailers are rolling out kits and a la carte offerings designed with the jetsetter in mind. Ben Lido Co-founder and CEO Drew Rayman, however, sees his company through a wider lens: “ We’re a readiness company. We’re a prep company,” Rayman told PYMNTS in an interview. Rayman makes sure each of his bags has a handle so his customers can grab their supplies and embark on their journeys.
Payments Source
NOVEMBER 19, 2018
Starbucks has established itself as a model for mobile payments among coffee drinkers, but Barclays is partnering with a U.K. coffee chain to take it a step further by bringing the coffee cup itself into play.
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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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