Chris Skinner
SEPTEMBER 9, 2019
I was talking with a senior banker, who told me that he was in charge of the Artificial Intelligence program in the bank. I was impressed as he is part of the executive leadership team of the bank and not the CIO. We have invested widely across the board in … The post Where the AI rubber hits the banking road appeared first on Chris Skinner's blog.
PYMNTS
SEPTEMBER 9, 2019
Starting on Oct. 6, Target reportedly plans to bring its revamped loyalty offering nationwide. The Target Circle program offers birthday rewards as well as other personalized coupons, CNBC reported. The company noted that over two million people enrolled in the program over an 18-month period and have made over 14 million transactions. (The offering does not require a person to have a Target credit card or pay a membership fee.
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Bank Innovation
SEPTEMBER 9, 2019
When customers walk into one of Academy Bank’s new branches, a banker will guide them to a screen where they can video chat with a specialist at Academy’s headquarters in Kansas City. Through the use of video terminals, the bank can serve more customers in less time and, according to CEO Paul Holewinski, video banking […].
PYMNTS
SEPTEMBER 9, 2019
MoneyGram and Visa Direct have formed a strategic partnership to roll out a new debit card deposit service, the companies announced in a Sept. 9 press release. The person-to-person (P2P) money transfer option offers U.S. consumers a way to send money domestically through MoneyGram to a recipient’s eligible debit card. . “We strive to create the best possible experience for sending and receiving money, and this new product offering empowers our customers by giving them yet another way to send mo
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
SEPTEMBER 9, 2019
For Personal Capital, the path to scale is to go broad. As a result, the Redwood Shores, Calif.-based hybrid adviser, which has $10 billion in assets under management, is bringing together investing, banking and personal finance management for the largest possible swath of users regardless of portfolio size. This includes digital investment products, a Mint-style […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
SEPTEMBER 9, 2019
Things we’re reading today include … Why are people shopping online late at night? Eurofi: inside the think-tank at the heart of the EU Former PM’s Brexit negotiator joins Goldman Sachs Deutsche Börse’s Eurex makes fresh euro clearing push ahead of Brexit Bank of America’s push to turn around investment … The post Things worth reading: 10th September 2019 appeared first on Chris Skinner's blog.
PYMNTS
SEPTEMBER 9, 2019
Microsoft President Brad Smith is concerned about how thieves are weaponizing tech, and he is berating Facebook for allowing it to fester on its network, The Washington Post reported on Sunday (Sept. 8). Smith said social media companies should not make money from “hatemongers posting vile content” and then duck liability. “Digital technology has become both a tool and a weapon, and we need to address that head-on,” Smith said in an interview with the WP.
Abrigo
SEPTEMBER 9, 2019
Imagine buying a new engine for your car. Your car, however, happens to be 8 years old, with tread-worn tires, and a window that won’t roll up. You could buy that engine and get some good use out it, but the car would be a lot better if you also added a set of new tires and fixed the window at the same time. The same is true of financial institutions when they consider technology investments to transform their lending and credit operations.
PYMNTS
SEPTEMBER 9, 2019
The cybersecurity world is witnessing a potentially new, dangerous threat: according to insurance firm Euler Hermes, one of its corporates fell victim to cyber fraud after attackers used sophisticated artificial intelligence (AI) technology to impersonate the firm’s chief executive officer by mimicking his voice on the phone. Though the tactic is unusual, cybersecurity experts warn the strategy could signal an increasing use of so-called “deepfake” technology to infiltrate systems and stea
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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
SEPTEMBER 9, 2019
Credit Sesame, which recently raised $43 million, allows users to access their credit scores and gain insights into how they can improve those scores. Users also can get third-party credit cards and loans through Credit Sesame’s platform, and the company is trying to make the process of applying as seamless as possible. The goal is to […].
PYMNTS
SEPTEMBER 9, 2019
David Watson, the former managing director and head of cash management for Deutsche Bank in the Americas, as well as the head of global digital cash products, has joined SWIFT as the new strategic relationship director in North America, according to a release. Watson will be in charge of SWIFT’s strategic direction as well as the organization’s growth in North America.
Ron Shevelin
SEPTEMBER 9, 2019
Banks no more need an AI-first strategy in 2019 than they needed a COBOL-first strategy back in 1959.
PYMNTS
SEPTEMBER 9, 2019
The global economy is more interconnected than ever, with more companies doing business abroad than at any time in recorded history. On one hand, this brings opportunity, with businesses reaching more customers in more markets. On the other hand, it also means they must learn to navigate a highly fragmented and complex international payments ecosystem.
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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
SEPTEMBER 9, 2019
The large payment processor mergers were meant to give bigger companies a better way to compete against the nimble startups that were luring their customers away for digital services such as mobile point of sale. And post-merger, Fiserv and First Data have fired their first salvo.
PYMNTS
SEPTEMBER 9, 2019
The eCommerce brand Shopify is expected to pass eBay and become the second largest platform in the world in terms of sales volume behind Amazon , according to a report by CNBC. Stock in the company has been roaring in the past year, going up 150 percent and passing eBay’s market cap. R.W. Baird wrote on Monday (Sept. 9) that if it continues on its current course, Shopify will surely pass eBay.
Payments Source
SEPTEMBER 9, 2019
It's not on consumers to fix this problem, says NuData Security's Justin Fox, who argues organizations must get more cooperative and proactive to improve authentication.
PYMNTS
SEPTEMBER 9, 2019
Hurricane Dorian may be officially over, but for those in the Southeastern United States and the Bahamas, the rebuild is just getting started. According to the experts, the damage Dorian left in its wake was massive – and costly. Insurers estimate it will cost them as much as $25 billion. Settling the tens of thousands of claims and paying out those funds to all the consumers and businesses who need them will present a series of operational challenges over the next several weeks and even months,
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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
SEPTEMBER 9, 2019
Brexit, the U.S.-China trade war, and warning signs of a recession are pressuring cross-border supply chains, accelerating the impetus to streamline payment processing for transactions that are still relatively large, recurring and paper-based.
PYMNTS
SEPTEMBER 9, 2019
The insurance industry has a reputation for slow procedures and even slower payments, and the claims process still often requires customers to deal with depositing physical checks. But such services are becoming more digital than ever as customers become less keen on paper-based systems and their accompanying wait times. Insurers are still playing catch-up when it comes to offering the speed and convenience consumers want, however.
Payments Source
SEPTEMBER 9, 2019
Donald Wetzel, the man who devised the first U.S. cash dispenser, says automated tellers will always exist — even as they evolve beyond their initial purpose.
PYMNTS
SEPTEMBER 9, 2019
Some people build from the background, by design or default, working on seemingly small and mundane things that nevertheless have a great impact on the lives of millions upon millions of people. Think, perhaps, of all those World War II and post-war era mathematicians, physicists and computer scientists who created, via one relatively obscure innovation or another, the digital infrastructure of today’s internet, the basis for today’s payments and commerce industries.
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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
SEPTEMBER 9, 2019
Static fraud prevention has no place in the current digital world, says Accertify's Stuart Mann.
PYMNTS
SEPTEMBER 9, 2019
A popular earworm rock song that hit the North American charts back in the 1990s assured the object of the narrator’s affection that he would walk 500 miles — and even 500 miles more — to “fall down at your door.” The song, from The Proclaimers (Is that chorus back in your brain now?) is not only a message of focused, determined desire — as it turns out, it says something about loyalty and rewards in the quick-service restaurant (QSR) space, at least if you use your imagination a bit.
Payments Source
SEPTEMBER 9, 2019
MoneyGram has partnered with Visa to leverage debit push payments for P2P transfers in the U.S., with plans to eventually expand the service internationally.
PYMNTS
SEPTEMBER 9, 2019
Accountants and bookkeepers have a new reality with their small business clients: machines can do number-crunching and calculations, and these professionals are now forced to examine how to elevate their role with SMBs to continue to provide value. Today, evolving the job of a small business accountant means not being replaced by technology, but tactfully using it.
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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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