Bank Innovation
AUGUST 8, 2018
Digitizing the lending process is still incomplete for banks of all sizes. A recent survey from the lending platform Lendtech, provides further evidence that banks and lending platforms must digitize the loan application and servicing process to capture today’s borrowers. LendTech, a member of the current cohort of this site’s sister accelerator INV Fintech, conducted a […].
Chris Skinner
AUGUST 8, 2018
I know I’ve written a lot about China and the Chinese internet giants for the past couple of years, whilst leaving out much of what’s happening in the USA. It’s not to say the USA is boring, but it’s not innovating at the speed, rate or scale of the Chinese … The post Venmo’s growing pains and the rise of Zelle appeared first on Chris Skinner's blog.
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Bank Innovation
AUGUST 8, 2018
Banks are backing Zelle in the P2P arms race, but it’s not other digital payments that are the enemy — it’s cash and a lack of innovation. So says Mark Ranta, head of digital banking solutions at ACI Worldwide, a company that works with 18 of the Top 20 global banks. “At the end of the day […].
Chris Skinner
AUGUST 8, 2018
Things we’re reading today include … Facebook wants you to do banking on its Messenger app Bank by bank, here’s where the hiring and firing will happen now Is Barclays Opening Crypto Trading? Activist investor Ed Bramson steps up Barclays battle with push to influence next chairman choice Lending Club: … The post Things worth reading: 9th August 2018 appeared first on Chris Skinner's blog.
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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
AUGUST 8, 2018
Starbucks brewed up a swirl of cryptocurrency intrigue last week. The coffee chain said it is among the companies that will work with Intercontinental Exchange’s planned digital asset company, Bakkt , “to create an integrated platform that enables consumers and institutions to buy, sell, store and spend digital assets on a seamless global network.”.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
AUGUST 8, 2018
Warnings from the Federal Bureau of Investigation have enterprises worried about cybersecurity — specifically, concerns about ransomware attacks. Business Email Compromise scams continue to grow and steal more corporate money than ever before. Phishing emails — 93 percent of which include ransomware, according to ITProPortal — should by no means be ignored.
Insights on Business
AUGUST 8, 2018
IBM RegTech Innovations. Nearly two years ago Lloyd Blankfein, CEO of Goldman Sachs, predicted that the demand for compliance analysts to meet the institution’s regulatory obligations would soon be leveling off : This has a Y2K feel about it – that is, we have to hire additional people because we have to get ourselves up to speed. I think once we catch up and once automated, we probably will be able to reduce that headcount in some of these costs.
PYMNTS
AUGUST 8, 2018
Successful innovation is all about operationalization. The good news is that the path to operationalizing innovation looks remarkably similar for all financial institutions (FIs). Whether FIs are big or small, operationalizing innovation comes down to executing on the same four key tenets , starting with making innovation a mindset. FIs must take this mindset and bring it into every aspect of their processes, operationalizing it to align with a tangible business agenda and inform the other thre
Payments Source
AUGUST 8, 2018
Earlier this year, the Central Bank of Ireland announced plans to launch a fintech innovation hub, with the intention of engaging with all firms that are delivering innovation across the financial services sector, says Billy Hanley, senior development adviser for Enterprise Ireland.
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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
AUGUST 8, 2018
Use cases are growing with blockchain, and while the headlines may focus on large-scale government initiatives and where distributed ledger technology (DLT) might be headed, the fact remains that smaller projects are gaining traction. Looking on a case-by-case basis, state initiatives (or local ones outside the U.S.) are showing some possibly novel ways that DLT may — at least, according to its advocates — help transform everyday activities.
Bobsguide
AUGUST 8, 2018
Would the 2008 financial crisis have occurred if the original Dodd Frank had been in place? This was one such question posited by the audience in yesterday’s live webinar, looking ahead at how the proposed adjustments to the Dodd Frank Act will shape bank strategy and in turn, fintech.
PYMNTS
AUGUST 8, 2018
As eCommerce and delivery companies fight an increasingly tough battle to streamline costs and compete for customers, a number of firms are moving to take control over logistics and distribution, as the cost savings and efficiencies can help accelerate growth and lower the expense of making final delivery to the customer. Domino’s , the world’s largest pizza delivery chain, said the company needed to accelerate investments in supply chain centers, as domestic volume has risen 50 percent over the
Payments Source
AUGUST 8, 2018
The onset of artificial intelligence and machine learning could serve as the safety net some companies need, providing a different and more thorough twist on traditional underwriting and credit checks.
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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
AUGUST 8, 2018
There are brands that claim to take the customer experience to the max — and then there are brands that redefine what exactly the max means. Chubbies is among the latter. Chubbies takes its customer community seriously, and it makes it very clear that this is well beyond a marketing ploy. When one teenaged customer wrote to the brand to complain about his beloved Chubbies shorts, which had been pilfered from his locker by a local bully, Chubbies sprang into action.
Payments Source
AUGUST 8, 2018
After a slow start, order-ahead payment services will begin to achieve more widespread adoption in U.K. corporate catering, encouraging the transition to the high street in the near future.
PYMNTS
AUGUST 8, 2018
Global tech startup Beam Wallet is ready to launch a new mobile payment solution, which will link smartphones and blockchain technology to enable faster and simpler retail payments. “There are examples where adoption has been less slow,” said Beam Co-founder and CEO Serdar Nurmammedov, according to VentureBeat. “In China, 90 percent of consumers use WeChat as payment for offline purchases.
Payments Source
AUGUST 8, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Microsoft adds Masterpass; A global fintech sandbox takes shape; Shaq invests in gig economy app; Fast EMV processing gets faster; Blockchain tackles mobile payments.
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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
AUGUST 8, 2018
Less than a year from now, more data — and the “smart” gear that collects and transmits it — will come to European roadways, part of an effort to increase the safety of truck driving. Specifically, the technology that will start deploying in June 2019 is called the “smart tachograph,” and the general idea behind it is to encourage better enforcement of highway and driving rules, make it harder for drivers to bypass those rules, and potentially use data to otherwise bring more efficiency and safe
CFPB Monitor
AUGUST 8, 2018
A Texas federal court has denied the motion for reconsideration filed by the trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule). The motion asked the court to reconsider its June 12 order granting the stay of the trade groups’ lawsuit challenging the Payday Rule that the trade groups had sought in a motion filed jointly with the CFPB but denying the stay of the Payday Rule’s August 19, 2019 compliance date that was also requested in the joi
PYMNTS
AUGUST 8, 2018
As malls as retail hubs are passing out of favor in an increasing number of locations, it seems yet another plan to repurpose them is springing to the forefront. Malls may soon be the new workspaces for Americans. As malls are dying off in some areas, crushed by empty storefronts, and big-box stores become fallen giants (think old Toys R Us locations), creative property managers and landowners are looking for some new, and perhaps unexpected, tenants to revitalize the spaces.
Payments Source
AUGUST 8, 2018
MakeCents uses a distributed blockchain platform to digitize and decentralize fiat currency. For existing stakeholders, the incentives to cede some control in favor of a blockchain are lower costs, faster transactions and greater volume.
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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
AUGUST 8, 2018
Amazon and Whole Foods Market announced Wednesday (August 8) the launch of curbside grocery pickup in Sacramento and Virginia Beach. In a press release , Amazon said the service will come to more cities throughout the remainder of the year. With curbside delivery, Prime members can shop at Whole Foods Market online and pick up their order in thirty minutes without having to get out of their car.
Payments Source
AUGUST 8, 2018
Visa has continued to establish a more complete B2B offering, working through its Visa B2B Connect blockchain payments service to help companies establish application interfaces and platforms to handle business transactions more efficiently.
PYMNTS
AUGUST 8, 2018
Jeans have been around — and popular — since the late 19th century, so it can be a bit strange to contemplate adding cutting-edge technological innovation to their production because, well, they’re jeans. They’re the most old-school of the old-school fashion items. But, thanks to the good people at Levi Strauss , jeans are getting a high tech — and environmentally sound — upgrade, thanks to the magic of lasers.
Payments Source
AUGUST 8, 2018
The cryptocurrencies join more than 60 different payment methods across 200 counties on Flow’s cross-border e-commerce platform, which includes Visa, Mastercard, PayPal, Alipay, WeChat Pay, Union Pay and many more.
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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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