Payments Dive
JUNE 1, 2018
New technology and innovation is changing the way consumers want to pay, but the increasingly rapid pace of change also creates challenges and vulnerabilities for self-service equipment providers.
Bank Innovation
JUNE 1, 2018
APIs open up a rich world of data exchange to banks, fintech startups, and consumers. Application programming interfaces (APIs) are the behind-the-scenes software that provide data to make applications work. Fintech startups and global banks alike increasingly depend on them to connect and communicate with consumers. For banks, a tremendous amount of data is exchanged […].
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PYMNTS
JUNE 1, 2018
To help retain drivers on its platform, Uber is raising its fares in cities such as Washington, D.C., San Francisco and Los Angeles. The increases have come to both “time and distance” rates as well as “booking fees,” Financial Times reported. “We have to make [being an Uber driver] more attractive because the alternatives are becoming more attractive,” Uber CEO Dara Khosrowshahi told FT.
Bank Innovation
JUNE 1, 2018
Innovation for the sake of problem-solving (rather than for its own sake) is the way U.S. Bank’s Dominic Venturo approaches his role of chief innovation officer. The bank has a comprehensive outlook on investing and researching emerging technology trends through its innovation team, Venturo said. The bank approaches its innovation plan by looking for "interesting […].
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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
JUNE 1, 2018
Estonia has shelved plans to develop its own national cryptocurrency after the idea prompted criticism by banking authorities and Mario Draghi, the Italian economist and president of the European Central Bank. Bloomberg , citing Siim Sikkut, an official who heads up the information technology strategy for the Eastern European country, reported it had planned to peg the cryptocurrency to the euro or would offer the digital tokens to all of its citizens — but instead they will be offered to foreig
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JUNE 1, 2018
Venture capital activity within the B2B realm saw a few large deals, and a subset of smaller ones. The dominant headline of the week came as Tradeshift , which serves supply chains with a focus on payments and marketplaces, said that it had raised $250 million in a Series E funding round that was led by Goldman Sachs and Public Sector Pension Investment Board (PSP Investments).
Payments Source
JUNE 1, 2018
The widely held belief that application programming interfaces are the key to banking’s future rests on the many ways early adopters are experimenting with the technology. But security and privacy concerns are still leading many in the industry to hold back.
PYMNTS
JUNE 1, 2018
Advancing its advertising efforts, Pinterest said that it plans to offer a promoted video tool, which allows marketers to gain more real estate than the platform’s typical grid-style layout, TechCrunch reported. By taking up the entire screen, Pinterest is able to help better capture the attention of users. In addition, Pinterest offers advertisers a unique audience — one that comes to its platform to discover new things: The site says that 42 million U.S. users visit in search of entertainment
Bobsguide
JUNE 1, 2018
Historically enterprise security teams have spent most of their time, human resources and money on defenses like firewalls and Intrusion Detection Systems (IDS) to protect and monitor the security of their networks. However, a quick look at these barriers suggests they are far from foolproof. With.
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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
JUNE 1, 2018
After a winter that seemed on track to last forever, summer has arrived, and with a vengeance in some parts of the United States. That means people nationwide are looking for ways to stay cool — including parents who will spend the GDP of a small nation during the summer months to keep their kids eating popsicles and Freezee ices, simply so they don’t wilt in the heat.
Payments Source
JUNE 1, 2018
Retailers often try to counter Amazon's dominance by using the e-commerce giant's strengths against it, including its reliance on search engine optimization.
PYMNTS
JUNE 1, 2018
The good news about living in a flat world is that it is increasingly connected and accessible — a big opportunity for merchants, consumers and financial institutions (FIs) alike. However, where there is opportunity, there are challenges. Consumers who get more, want more — which puts the pressure on FIs to innovate for more complex needs. Meeting those needs will require thinking out of the box (and into the sandbox ) going forward.
Payments Source
JUNE 1, 2018
Many of these attacks have been server side ransomware and other sophisticated hacks, leading companies to examine the immature security processes and technology of application security and the insufficient expertise of development, writes Jeannie Warner, the security manager at WhiteHat Security.
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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
JUNE 1, 2018
Add “ social credit ” to the list of factors that could influence the Chinese economy — and, perhaps, consumer activity in other parts of the world. By now you’ve likely read the reports: Millions of Chinese consumers denied flights, train trips and other access to normal economic activities because, in the eyes of government officials and their Big Data grading system, they are considered “discredited.
Payments Source
JUNE 1, 2018
JPMorgan Chase & Co. is boosting rewards on its credit card with United Continental Holdings Inc. as the airline seeks to strengthen its loyalty program.
PYMNTS
JUNE 1, 2018
Between 2015 and 2017, the amount of lending to small businesses by the five leading online lending providers increased 50 percent, according to a new report from NDP Analytics, a Washington, D.C.-based economic research firm. Collectively, the amount of those loans reached $3.9 billion in 2017 from $2.6 billion in 2015. The report, entitled “The Economic Benefits of Online Lending to Small Businesses and the U.S.
Payments Source
JUNE 1, 2018
There are forward-looking regulations that govern the landscape of how personal data gets collected, processed, analyzed, stored, retained, monetized, and accessed by any organization that collects data in the EU. Its goal is the protection of individual privacy and will require a multi-year strategy, according to Bassim Alkhafaji, a partner at Andra Capital.
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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
JUNE 1, 2018
As Claire’s Stores seeks to attract investors and potential buyers, the retailer has gained approval to close 37 of its brick-and-mortar stores, which are primarily located in malls, Retail Dive reported. The news comes a few months after Claire’s, which is best known for its inexpensive jewelry and ear-piercing services, won court approval to vacate 95 stores.
Payments Source
JUNE 1, 2018
Payment gateway provider Pelican Group has launched PelicanPay, a new unit of the company, to focus on providing European-wide Payment Services Directive connectivity, payments and financial crime compliance services.
PYMNTS
JUNE 1, 2018
And the award for “techiest” retailer goes to … Walmart ? The big-box retailer recently published a number of patent filings that would certainly make it a contender for “Most Futuristic Shopping Experience” if they come to fruition. Though a patent represents an idea, not a technology that has already been created (much less deployed), if Walmart develops even one of these, it could change the way consumers (and merchants) think about retail.
Payments Source
JUNE 1, 2018
Dark clouds may not yet be on the horizon, but industry executives are sending the message to investors that they know a turn in the credit cycle is coming, and they are planning accordingly.
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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
JUNE 1, 2018
A survey shows that more U.S. teens are using YouTube , Instagram or Snapchat over Facebook. A new Pew Research Center survey found that 51 percent of U.S. teens ages 13 to 17 say they use Facebook — a decline from the Center’s last survey of teen social media use in 2014-2015. Back then, 71 percent of teens reported being regular Facebook users. Now, in 2018, three online platforms — YouTube, Instagram and Snapchat — are used by sizable majorities of this age group over Facebook.
Payments Source
JUNE 1, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: PayPal makes another investment; Open Payments Cloud picks up support; Crypto firm hires Square's former compliance officer; Mastercard hires a cybercrime expert.
PYMNTS
JUNE 1, 2018
Indicating a tightening labor market, the U.S. unemployment rate dropped to 3.8 percent amid higher-than-expected payroll gains. That decrease brings the unemployment rate to its lowest point in 18 years, Reuters reported. “It’s a good report all around, it literally checks off all the right boxes,” RBC Capital Markets Chief U.S. Economist Tom Porcelli told Reuters.
Payments Source
JUNE 1, 2018
Supermarkets and other retailers reported rejected transactions after a network glitch, causing some to quickly deploy cash-only checkouts.
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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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