Bank Innovation
FEBRUARY 8, 2018
EXCLUSIVE – Here they are. This morning, Bank Innovation officially announced the 11 companies that will be participating in its 2018 DEMOvation Challenge. These 11 companies will present technologies and products in front of an attentive audience of fintech professionals during Bank Innovation 2018, which will take place this March in San Francisco.
Chris Skinner
FEBRUARY 8, 2018
In my blog yesterday, I talked about the technology titans being liked and potentially trusted with money, but I still don’t think they will open full-service banking. Instead, I think they will focus upon full-service information. The reason I say this is that they don’t want to be banks, it … The post The real financial plans of the tech titans (#GAFA #BAT) appeared first on Chris Skinner's blog.
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Bank Innovation
FEBRUARY 8, 2018
Brokerage TD Ameritrade has created a Twitter “chatbot” that will allow its users to initiate trades over the social media platform, the Wall Street Journal reported today. Similar to the chatbot the firm launched in August 2017 on Facebook Messenger, its Twitter bot looks through tweets to provide investment intelligence to customers, including news on […].
Chris Skinner
FEBRUARY 8, 2018
Things we’re reading today include … UK banks running out of time to apply for EU license, says ECB official Heritage Bank and the road to digital banking Race with Spain for European Bank post The power of the big banks remains as they take advantage of customer’s loyalty | … The post Things worth reading: 8th February 2018 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
FEBRUARY 8, 2018
United Kingdom challenger bank Coconut will partner with prepaid cards and services provider PrePay Solutions, or PPS, to enable the bank to deliver digital banking for freelancers and the self-employed, PYMNTs reported today. Coconut, which was only recently launched in January, is looking to provide more tailored digital financial services for the U.K.’s freelancers, which […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
FEBRUARY 8, 2018
EXCLUSIVE – Barclays U.S. or Barclaycard is looking to join Bank of America, Citi and Chase in banning cryptocurrency purchases on its Barclaycard, Bank Innovation has learned. “We are making the decision that we will likely no allow cryptocurrency purchases on the card,” Paul Wilmore, CMO at Barclays told Bank Innovation. Wilmore compared the cryptocurrency phenomenon […].
PYMNTS
FEBRUARY 8, 2018
Soon after Ripple announced a collaboration with MoneyGram, the blockchain firm revealed yet another partnership, this time in China. Reports in Blockchain News on Wednesday (Feb. 7) said Ripple announced a partnership with LianLian International, a Hong Kong-based, cross-border payments company, that plans to use Ripple’s xCurrent enterprise blockchain tool to process real-time payments coming into China.
Bank Innovation
FEBRUARY 8, 2018
EXCLUSIVE—Payment processor Visa has not changed any policies related to the purchasing of bitcoin, the company told Bank Innovation. The company still allows Visa cardholders to make cryptocurrency purchases with “credit, debit, and certain prepaid Visa products,” it said in a statement. This follows reports that Visa, alongside other credit card networks, changed how cryptocurrency […].
PYMNTS
FEBRUARY 8, 2018
Being a program manager isn’t easy. Essentially, it means handling everything other than card issuing, authorization and transaction processing. If it’s not holding money or providing a payment network, the program manager does it: AML (anti-money laundering) compliance, KYC (Know Your Customer), fraud mitigation, marketing, privacy, document review, OFAC compliance, reporting and more.
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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
Payments Dive
FEBRUARY 8, 2018
And would Satoshi Nakamoto ever emerge to save it?
PYMNTS
FEBRUARY 8, 2018
Fit Pay , a unit of NXT-ID , announced news on Thursday (Feb. 8) of the launch of Flip TM , a contactless payment device for cryptocurrency holders. According to a press release , Fit Pay said the new device will enable cryptocurrency holders to use their digital coins to pay for goods at retail locations. The device launch follows an announcement in December that the company would expand its platform to include cryptocurrencies.
Bobsguide
FEBRUARY 8, 2018
The facts. What? General Data Protection Regulation (GDPR). When? 25th May, 2018 (Adopted by European Parliament in April, 2016). By? EU’s Article 29 Working Party (and replaced under GDPR by the European Data Protection Board (EDPB)). Applies to whom? Controllers.
PYMNTS
FEBRUARY 8, 2018
Can predicting the future help retailers and other organizations avoid negative outcomes? It’s not just a thought exercise: By analyzing the past, organizations can shape the future they want to see, starting with creating the best possible user experience. Those who don’t know history are doomed to repeat it, and all that. Customer churn doesn’t have to be a total loss.
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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
Bobsguide
FEBRUARY 8, 2018
Security and data security concerns have traditionally dominated the list of reasons for lack of cloud technology adoption by banks. In a survey conducted by Forrester Research a few years ago, it found that the top five reasons why US banks were avoiding cloud technology included: 1) Security.
PYMNTS
FEBRUARY 8, 2018
ALDI , the grocery store operator, is being targeted by scammers who are installing credit card skimmers on top of point-of-sale terminals in plain sight. According to news from TechCrunch on Thursday (Feb. 8), police in Lower Pottsgrove, Pennsylvania, have pinpointed a group of thieves as the culprits. They’ve been installing camouflaged skimmers on ALDI credit card terminals right in front of surveillance cameras.
Payments Source
FEBRUARY 8, 2018
There are still regions where contactless and EMV cards are slow to roll out, and Mastercard is working to bring these markets up to speed so that they are ready for future innovations.
PYMNTS
FEBRUARY 8, 2018
Not every organization is diligent about matching purchase orders (POs) with invoices when handling supply chain payments and accounts payable (AP). A PO matching process ensures that a PO has already been established and approved for the vendor before an invoice is even received, so that, when the invoice arrives, the organization can guarantee it’s paying out the correct amount and not overspending.
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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.
Payments Source
FEBRUARY 8, 2018
The head of the World Bank compared cryptocurrencies to “Ponzi schemes,” the latest financial voice to raise questions about the legitimacy of digital currencies such as bitcoin.
PYMNTS
FEBRUARY 8, 2018
If a customer wants some red Nike running shoes in size 11, he can use his web browser or phone to navigate to Nike’s website, find the shoes, choose the color and select a size — or he can just say, “Alexa (or Google, or Siri), I want some red Nike running shoes in size 11.”. It’s clear that the natural language approach is a much faster way to get the desired result, and consumers are figuring that out: Alpine.AI CEO and Co-Founder Adam Marchick said the company’s analytics have been showing a
Payments Source
FEBRUARY 8, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: U.K. fintech investment sets record; Ripple expands in China; Venezuela pushes oil cryptocurrency; Google gets pressured on bitcoin ads.
PYMNTS
FEBRUARY 8, 2018
B2B payments are an instrumental component of global trade and of setting the stage for currencies to operate as global instruments of cross-border trade. China’s renminbi (RMB) is one global currency that is pushing its international standing, but new data from SWIFT released earlier this month found 2017 was a mixed year for the currency. RMB usage made up 1.61 percent of domestic and cross-border payments in December 2017, SWIFT found, with the company’s Head of Payments Markets, Asia-Pacific
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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.
Payments Source
FEBRUARY 8, 2018
The concept of a digital payments platform that taps into consumer bank accounts is an old one. But there are still opportunities to implement it in new ways.
PYMNTS
FEBRUARY 8, 2018
In Amazon’s Echo Look ’s first partnership with a publication, Condé Nast’s Vogue and GQ magazines have teamed up with Amazon to provide fashion recommendations in the device’s companion app. The feature will launch on Feb. 19, TechCrunch reported. As the Echo Look doesn’t have a screen, the recommendations will only be available on its companion app.
Payments Source
FEBRUARY 8, 2018
Advances in mobile technology have also permeated into other products, including point of sale hardware. With mobile point of sale devices being updated to include sophisticated software, there is more real-time capture of customer data in the store.
PYMNTS
FEBRUARY 8, 2018
Countries from the U.K. to Singapore have long been home to real-time payment schemes, but speed lagged behind when it came to America. It wasn’t until November 2017 that The Clearing House (TCH) debuted its Real-Time Payments (RTP) scheme — a system that isn’t expected to see across-the-board adoption until 2020. The service is designed to shrink transaction times from days to seconds, and some expect it will brighten business prospects when it does become more widespread.
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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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