Chris Skinner
APRIL 17, 2019
Things we’re reading today include … Deutsche Bank faces action over $20bn Russian money-laundering scheme FCA must adapt to changing technology to regulate City, says chief Mark Carney tells global banks they cannot ignore climate change dangers Half of England is owned by less than 1% of the population Why … The post Things worth reading: 18th April 2019 appeared first on Chris Skinner's blog.
Payments Dive
APRIL 17, 2019
The annual awards honor financial institutions and fintech providers whose unique strategies and technologies are heightening the consumer experience.
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Bank Innovation
APRIL 17, 2019
Coming off the launch of a revamped mobile app and the hiring of the bank's first chief digital officer, U.S. Bank executives, during the first-quarter earnings call today, outlined a strategy to extend relationships with customers outside the Minneapolis-based bank's physical footprint. "Digital engagement with our customers is growing," Andy Cecere, chairman, president and CEO […].
PYMNTS
APRIL 17, 2019
The race to 5G retail is on. The new, faster mobile network technology is a big part of the plans for many commerce and payments operators, even though specific use cases have been only slowly emerging as the technology and the devices to support it are deployed. Recent news out of Asia serves as solid foreshadowing of how 5G could enhance retail in the coming few years.
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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
Bank Innovation
APRIL 17, 2019
Having a "frictionless" user experience (UX) is among the top three qualities that bank customers look for when picking a new bank, right after "security" and "trustworthiness," according to a new report by financial technology provider, FIS. The results came from a report released on Tuesday, titled “The 2019 Performance Against Customer Expectations,” which asked […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
APRIL 17, 2019
FSS Payment Gateway maintained a strong growth trajectory in 2018, processing 790M transactions amounting to USD 18B in value.
PYMNTS
APRIL 17, 2019
U.K. bank NatWest has announced a biometric payment technology for its commercial and business customers. The new development will allow for customers to make payments through an app using Apple’s FaceID or TouchID, CNBC reported. Once a device is registered, a customer can set up the biometric authentication, which will require a six-digit code. The new technology will be introduced to iOS users first, and then on Android and other systems in the latter part of the year.
Bobsguide
APRIL 17, 2019
In an era of digital transformation - not to mention a lot of economic and regulatory change - things are moving quickly. For many financial services organizations this means unprecedented pressure to innovate to remain relevant and competitive. And the results are starting to show: in.
PYMNTS
APRIL 17, 2019
Apple’s Q1 iPhone shipments were estimated to be between 40 million and 45 million units, but they came in under that, according to reports. The shipments totaled between 37 million and 42 million units. The estimate miscalculation was blamed on tepid demand for the company’s iPhone XS and XR devices. Apple’s Q2 shipments are also expected to be down, at between 28 and 33 million units, which is down between 21 and 24 percent on the quarter.
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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
Payments Source
APRIL 17, 2019
CV Systems’ COO Randy Schmidt, BHMI Chairman Jack Baldwin and Mickey Goldwasser, vice president of Payrailz, discuss challenges and opportunities, for faster payments, back office gaps, and cross-industry cooperation.
PYMNTS
APRIL 17, 2019
Returnly , the post-purchase payments company, announced on Tuesday (April 17) that it has raised $19 million in venture funding. In a press release , the company said the Series B round of funding was led by Craft Ventures, the venture capital fund co-founded by serial entrepreneur David Sacks. Affirm and existing investors also participated in the round of funding.
Payments Source
APRIL 17, 2019
Stripe has updated its products and made an acquisition to prep for new security standards it says will impact more than 300 million people, potentially giving Stripe the same kind of influence over European merchant technology that it enjoys in the U.S.
PYMNTS
APRIL 17, 2019
Uber announced on Wednesday (April 17) that it is adding Apple Pay to its popular Uber Eats app, according to reports. Customers who want to use the payment option can now either do so using the Face ID or Touch ID option inside the Uber Eats app. Apple Pay has previously been a payment option for the Uber ride-hailing app, but the addition to the food app is new.
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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.
Insights on Business
APRIL 17, 2019
Financial companies have always been innovators. But in this age of digital transformation, innovation in financial services is more important than ever to stay competitive. Innovation processes, traditionally limited to product development, are now spreading throughout the entire organization. Many companies, however, are not yet well-positioned to reap the benefits.
PYMNTS
APRIL 17, 2019
Even in the glory days of manual transmissions and leaded gasoline, driving was never just about driving, about getting from one point to another. Driving was about freedom, ego, escape and emotion. Now, at the dawn of the connected vehicle age, China-based Alibaba is showing what driving will mean in the 21st century. At the Shanghai Auto Show earlier this week, the eCommerce operator and digital payments provider reportedly said it is “developing apps for connected cars that will let drivers
Jack Henry
APRIL 17, 2019
In the middle of his emotional description of the horrific Hindenburg disaster , American radio journalist Herb Morrison blurted out, “Oh, the humanity!” That phrase has since become a meme used to caricature highly emotional responses to not-all-that-tragic events. During conversations with my software company peeps, I frequently refer to the humanities degree hanging on my wall to alert them to my lack of technical training.
PYMNTS
APRIL 17, 2019
Social media giant Facebook is developing an artificial intelligence (AI)-powered voice assistant in the vein of Amazon’s Alexa or Apple’s Siri, according to reports. The company has apparently been working on the assistant since the beginning of 2018, and it’s being developed by Facebook’s augmented and virtual reality division, which works on the company’s hardware, like the VR Oculus peripherals.
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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.
Payments Source
APRIL 17, 2019
When deploying connected devices, firms much balance the mix of innovation and security, writes Pip Courcoux, sales and product manager for CLIQ Systems at Abloy UK.
PYMNTS
APRIL 17, 2019
High-speed rail service Eurostar is adding Google Pay support to its service in an effort to reduce the usage of paper tickets, according to reports. With the Google Pay tickets feature, customers using Google Pay on an Android 5.1 or higher can save a ticket directly to their Google Pay account from inside the Eurostar app. Riders can use the mobile ticket to head directly to departure stations instead of having to print out a physical ticket.
Payments Source
APRIL 17, 2019
Cross-border QR code mobile payments processor, Citcon, has completed a Series B funding round that included a $5 million strategic investment from East West Bank. Citcon will also be adding Catherine Zhou, executive vice president and head of consumer banking and digital banking at East West Bank, to its board of directors.
PYMNTS
APRIL 17, 2019
Payfone announced that it has secured a $24 million funding round, led by TransUnion. The funding also included participation from existing investors Synchrony, MassMutual Ventures, Massachusetts Mutual Life Insurance Company and Wellington Management. TransUnion and Payfone have also formed a strategic partnership that will leverage their missions and capabilities.
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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.
Bobsguide
APRIL 17, 2019
Trying to collate everything manually, when detail exists in different formats across numerous data silos, is no longer sustainable. In any case, many firms lack the budgets to keep investing in new IT projects each time demands change or a new standard is issued. There must be a more sustainable.
PYMNTS
APRIL 17, 2019
Welcome to The Axis, your late look at payments news from around the world. Coverage includes OTT Pay ’s tie-up with Canada ‘s Wonderland to offer new mobile payment options. Citcon reportedly notched $5 million in Series B funding, Credit Suisse customers in Switzerland will be able to make payments through Samsung Pay and the use of mobile payments is growing in South Korea.
CFPB Monitor
APRIL 17, 2019
The CFPB has issued its Consumer Response Annual Report , which analyzes the approximately 329,800 complaints received by the CFPB between January 1 and December 31, 2018. The Report details the trends in consumer complaints across various categories and provides information about the CFPB’s process for handling complaints. Of the 329,800 complaints received in 2018, the CFPB sent approximately 80% of the complaints to companies for review and response, referred 14% to other regulatory agencies
PYMNTS
APRIL 17, 2019
Chinese peer-to-peer (P2P) lender Dianrong wants to raise $100 million in an attempt to outlast a regulatory squeeze on the industry in the country, according to a report in the Financial Times. The company has had to cut about 2,000 jobs – about a third of its workforce – and wants to raise funds from new investors as well as shareholders. These include the Asian private equity arm of Standard Chartered , Japanese financial services group ORIX and Singapore-based GIC.
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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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