Chris Skinner
JUNE 5, 2019
I’ve been finding it increasingly frustrating on my travels, thanks to one of my credit card companies. My travelling depends on two credit cards: a bank issued corporate MasterCard and American Express. The reason I carry these two is that the MasterCard works across Europe, where quite a few countries … The post Card … short for Cardbored appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 5, 2019
A fintech incubator called Silicon Fintech Bay is launching in Redwood City, California. CEO Rick Frisbie declined to say what areas the incubator will focus on, but he told Bank Innovation that selected companies will get to work with the program’s partners on problems they’ve identified. “We don’t want to go willy nilly and find […].
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Chris Skinner
JUNE 5, 2019
Things we’re reading today include … Next Bank of England governor must serve the whole of society Standard Chartered shows it’s a bank of action against illegal poaching ‘Bad bank’ repays £50bn bailout loan ‘Bad bank’ repays £50bn bailout loan The green bank for kids – set up by a … The post Things worth reading: 6th June 2019 appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 5, 2019
Global money transfer firm Western Union will implement Visa’s real-time push payments platform, Visa Direct, in an effort to speed up and bring transparency to cross-border, cross-currency money transfers, the companies announced today. Western Union, which completed more than 800 million transactions for consumer and business clients in 2018, said it can offer customers an […].
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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
Accenture
JUNE 5, 2019
Late 19th century American farmers, threatened by industrialisation, had to use new tools and techniques to innovate and survive. African-American inventor, scientist and botanist George Washington Carver, summed it up like this: “When you do the common things in an uncommon way, you’ll command the attention of the world.” Carver was certainly an innovator, having reputedly discovered three hundred uses for peanuts and hundreds more for soybeans, pecans and sweet potatoes.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JUNE 5, 2019
Intro: Consumers undeniably want all of their transactions faster – and there is a penalty to be paid for making them wai t. But fast is no substitute for safe, which means the future of speed is really all about authentication on the quick. Artificial intelligence and machine learning can do a lot of that heavy lifting, if operators are using the real deal and not something merely AI-ish.
Accenture
JUNE 5, 2019
In my previous blog, I mentioned that Europe is the battlefield for GAFA (Google, Amazon, Facebook, Apple) companies from the West and from Chinese and Japanese platforms from the East, in addition to the growing number of new, smaller players entering the banking market. Over the last 12 years, 1230 new players have entered the market, and represented 6.6 percent of total banking revenues in 2017.
PYMNTS
JUNE 5, 2019
Alipay has tripled its number of merchants in Europe to “tens of thousands” in the past year. “We’re talking about tens of thousands of merchants who are really excited about the opportunity that Alipay provides them to tap into those wealthy and middle-class consumers, who are traveling to see the world and want to buy great brands from Europe,” said Roland Palmer, head of Europe for Alipay, according to CNBC.
South State Correspondent
JUNE 5, 2019
A LOAN TACTIC TO IMPROVE REVENUE You cannot read a financial paper, business feed, or watch financial television without someone mentioning yield curve flattening and inversion. Google searches for “yield curve inversion” are at their highest level ever. What is all the fuss about, and why should bankers care? We will explain an innovative way that bankers are using the current yield curve to protect existing relationships, increase yield and generate non-interest income, and we will use a recen
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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 5, 2019
HSBC has reportedly expanded its PayMe digital wallet to startups and small businesses, marking its first foray into the business payments marketplace. According to a report in the Financial Times , the U.K. bank quietly rolled out the digital wallet in Hong Kong as a response to competition from the likes of Tencent and Alibaba. In February, reports had surfaced that HSBC was testing the wallet with business customers.
Bobsguide
JUNE 5, 2019
Financial services has found itself cut off from the technological developments of other industries, and an unwillingness to catch up will see it experience further problems, according to a panel at Money 20/20 in Amsterdam. “Banks have found themselves marooned from the main.
PYMNTS
JUNE 5, 2019
It’s not enough to just be a retailer these days, it seems. Digital ads are also part of the process — at least that’s the story coming from recent developments involving major merchants. Take Target as one example. The retail chain reportedly has been in discussions with Triad Retail Media , the retail advertiser owned by WPP PLC, to acquire it.
Payments Source
JUNE 5, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Mastercard and PayPal make moves to address PSD2 compliance and open banking; Axel debuts a new wallet; Digital ID network takes shape in Germany.
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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 5, 2019
Cards (as in prepaid, stored-value cards that consumers can use for gambling, payroll and a variety of other uses, many of them novel) are only half the battle. The real trick is to tie engaging consumer experiences to those cards, which is critical, as prepaid and reloadable cards continue to evolve — moving from plastic cards to mobile accounts that can adapt to an expanding portfolio of use cases, including payroll, online gambling or even consumer and business lending.
Payments Source
JUNE 5, 2019
Credit card issuers are wrong about why card balances are falling — fintechs are luring customers away, according to Wayne Best, Visa's chief economist.
PYMNTS
JUNE 5, 2019
The Amazon Re:MARS conference in Las Vegas has been churning out technology news for the company. First, it was the announcement that delivery drones could hit the airspace in the next few months. Now, according to reports , Amazon’s Consumer Worldwide CEO Jeff Wilke has announced a new AI-powered fashion search tool called StyleSnap, designed to help customers find clothes to buy.
Bobsguide
JUNE 5, 2019
The role of central banks in the supervision of central counterparties (CCPs) was greatly debated on a panel discussion at the FIA’s IDX in London this week. “It is a great test for a domestic marketplace, or a domestic clearing house when you can ask the question, when is a market.
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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 5, 2019
New data shows that, for the first time, U.S. adults will spend more time using their mobile devices this year than they will watching TV. According to eMarketer , the average American will spend three hours and 43 minutes on mobile devices this year, just above the three hours and 35 minutes spent watching television. Of the time spent on mobile, consumers will spend two hours and 55 minutes on smartphones, a 9-minute increase from 2018.
Payments Source
JUNE 5, 2019
Retailers can control traffic flow and simplify payments and checkout, writes Scott Reese, chief technology officer at Harbor Retail.
PYMNTS
JUNE 5, 2019
Uber confirmed to a news outlet on Wednesday (June 5) that it is merging a fully functional web version of Uber Eats into its ride-hailing app. According to the report , Uber confirmed the news after a tipster clued the publication into the move. The ridesharing company started testing the merged app at the end of April. The Uber Eats app will also remain available on its own.
Payments Source
JUNE 5, 2019
Vetting transactions has become complicated as merchants try to juggle user experience and risk. Tokenization can remove some of that complexity, argues Andre Stoorvogel, a director at Rambus.
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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 5, 2019
Apple has announced the launch of CryptoKit, a Swift API that will perform basic cryptographic functions for its iOS 13 software release, according to a report by CoinDesk. The announcement was made during Apple’s Worldwide Developers Conference. The new framework will offer key generation, hashing, encryption and exchange for developers. It will replace Apple’s previous framework, CommonCrypto, which did not have Swift support.
Payments Source
JUNE 5, 2019
JPMorgan Chase & Co., the biggest U.S. credit-card issuer, is reviving a controversial policy that forces credit-card customers to use arbitration instead of court to resolve payment disputes.
PYMNTS
JUNE 5, 2019
Walmart has announced it will be bulking up the program by which it allows full-time and part-time employees to access a college degree for $1 a day — by adding more eligible degrees, college partners and a new path for high school students to its one-year-old program offering. Joining the list are Southern New Hampshire University, Purdue University Global and Wilmington University — which will now bring the program up to offering a total of 14 associate degrees, bachelor’s and certificat
Payments Source
JUNE 5, 2019
The U.K.’s Nationwide Building Society has invested in Ordo, a fintech that protects consumers from invoice and payments fraud by allowing billers to send payment requests directly to it.
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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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