Bank Innovation
AUGUST 10, 2017
PayPal has big plans for its latest acquisition, small business lender Swift Financial. PayPal today announced its first acquisition since picking up TIO Networks in a $233 million deal back in February. Terms of the transaction with Swift were not disclosed. But Palo Alto, Calif-based, PayPal has high hopes for Swift, a leading provider of […].
Chris Skinner
AUGUST 10, 2017
A year ago, I wrote a piece about Fin and Tech being like Father and Son. The thing that I was noting is the chasm between bank leadership teams, who are generally men over 50, and FinTech startups, who typically have young visionaries and significant diversity. It’s a theme I’ve … The post Balancing experience and vision appeared first on Chris Skinner's blog.
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Bank Innovation
AUGUST 10, 2017
The average credit card has six attached fees, despite the increasing consumer preference for no fees at all. This is according to a study by CreditCards.com released yesterday conducted by Harris Poll, which surveyed 100 general-purpose credit cards. These cards charge a combined 591 fees, with the most common being late payment and cash advance […].
PYMNTS
AUGUST 10, 2017
Banks and FinTech companies have a complicated history. To put it mildly, the two sides have not always worked harmoniously together. Why the tension? Both types of institutions contend for the same business in the competitive financial services world. While traditional banks offer a more established and tested set of products, the offerings of newer FinTech companies — such as real-time data, streamlined payments and quick notifications — are helping these new players encroach on banks’ t
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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
AUGUST 10, 2017
Ten years ago today, in the months leading to the start of the global recession, the ‘Quant Quake’ of August 10, 2007 shook Wall Street. The Quant Quake saw some of the top quant funds in the US, including those belonging to AQR and Goldman Sachs, lose billions of dollars in a matter of weeks. Many of the funds at the time were highly correlated, and as one firm began selling its equity positions, that created a seemingly unstoppable domino effect.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
AUGUST 10, 2017
Alternative investing service NSR Invest will combine with roboadvisory LendingRobot to form a new roboadvisor platform in the alternative lending space, the companies said today. “The two companies were formed with very similar services in mind,” Bo Brustkern, CEO of NSR Invest, told Bank Innovation. “NSR was a tool for the more sophisticated investor, the […].
PYMNTS
AUGUST 10, 2017
Apple has been engaging in anti-competitive behavior in China, its largest mobile applications market, according to a lawsuit filed with regulators in that country. The antitrust suit, which comes on behalf of more than two dozen developers, was filed Tuesday by Dare and Sure, a law firm based in China. The lawsuit states that the tech juggernaut is mistreating Chinese developers through its stronghold via the iOS App Store.
Payments Source
AUGUST 10, 2017
Oracle Corp. is offering a payments application programming interface based on the ISO 20022 standard that will allow banks to more easily collaborate with fintechs and other third parties.
PYMNTS
AUGUST 10, 2017
It’s been a little over a year since our Digital Banking Tracker heralded the “ Dawn of Banking Voice Technology.” Now it’s more like the high noon of banking voice technology, with most major banks hosting their own incarnation — all with slightly different capabilities and adoption rates. Santander U.K. started the trend by launching a voice assistant within SmartBank, its mobile banking app for students, before rolling it out to the general public.
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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
Let's Talk Payments
AUGUST 10, 2017
Cash money out – phones in? As consumers remain tethered to their phones, the growth of mobile wallets has exploded, multiplying faster than bunnies in springtime. But just like any.
PYMNTS
AUGUST 10, 2017
Slow and steady doesn’t win the financial services race. If you’re not ahead, you’re behind, especially if you’re playing on the global stage. From user interface technology to security and risk management, the only constant in the financial space is that nothing stays the same for long. Those who wait until they must either invest or fold will find themselves outpaced, and catch-up is not a game that any organization wants to find itself playing.
Let's Talk Payments
AUGUST 10, 2017
On the future of business, omnichannel commerce, and the role of company culture in facilitating sustainable growth in a rapidly changing environment, the LTP Team had the pleasure of interview.
PYMNTS
AUGUST 10, 2017
Retailing giant Walmart is expanding the use of its Scan & Go mobile app, which is already being tested in around 12 stores in Arkansas, Florida, Texas and Georgia, to include ten more brick-and-mortar locations. According to a news report , some of the new locations for the technology that lets customers scan and pay during in-store shopping without the need for a cashier will be in Dallas-Fort Worth and Nashville markets.
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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
AUGUST 10, 2017
Despite Apple's attempts to keep the next iPhone's features secret until it is formally announced, developers are unearthing more clues about the handset's support for payments.
PYMNTS
AUGUST 10, 2017
After introducing itself to the market earlier this year, U.K. FinTech startup Populous has officially launched. News reports on Wednesday (Aug. 9) said Populous has raised more than $10 million and is now piloting its platform, which uses blockchain technology for invoice financing. “We’ve been getting a lot of interest from other invoice factoring firms and financial firms that are not on the blockchain wanting to join the project, including banks as well,” said Populous CEO Stephen Williams i
Bobsguide
AUGUST 10, 2017
Daniel Mayhew is the UK Country Manager at Payoneer, a financial services provider that provides simple online money transfers and e-commerce payment services. The company is currently headquartered in New York, with a new office that recently opened in London. Mayhew understands that whether you.
PYMNTS
AUGUST 10, 2017
American International Group (AIG), the insurance company based in the U.S., predicted the number of cyber insurance policies will skyrocket from Chinese companies and in other parts of Asia due to the WannaCry ransomware attack that wrecked havoc on companies around the globe a few months ago. According to a news report in Reuters, citing American International Group, the insurer said it had an 87 percent increase in inquiries for cyber insurance policies in May compared to the month earlier in
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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.
Bobsguide
AUGUST 10, 2017
Professor Paul Sheldon Foote, Ph.D, California State University. Bank security failures. Many banks around the world, large and small, continue to experience major security failures. At this year’s Kaspersky Security Analyst Summit (April 2 – 6, 2017), Kaspersky Lab analysts.
PYMNTS
AUGUST 10, 2017
Distributed ledger technology (blockchain) has made significant headway this year, and people are starting to take notice. At the beginning of 2017, the cryptocurrency bitcoin was valued at just under $1,000 and soared up to over $3,000 in May. While it took a dive over the summer, bitcoin now comfortably sits at just over $3,000. Cryptocurrencies have seen major growth in popularity, and alongside the increasing speed of eCommerce transactions, so does the demand for widespread use.
NCR
AUGUST 10, 2017
Evolution in technology has always had a big impact on how people live their lives, but this phenomenon has arguably been more pronounced in the 21 st century than at any other time in human history. As far as consumer habits are concerned, the emergence and growth of concepts such as the internet and smartphones has transformed how people shop and complete purchases.
PYMNTS
AUGUST 10, 2017
The destruction of the car rental industry? There’s an app for that. Hertz knows it. Avis too. The two car rental giants are the poster children for the way technology may be making inroads into forcing an entire business model, well, off the road. Both firms have been shown the Uber, and ride-hailing, impact. Hertz said Tuesday that losses are continuing; Avis cut its profit projections.
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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.
Payments Source
AUGUST 10, 2017
Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web: Today: Softbank's investment in Flipkart; Russian e-commerce venture gets funds; Payment vets invest in Railsbank; Fidelity collaborates with Coinbase.
PYMNTS
AUGUST 10, 2017
In real estate and in retail, location is everything. Malls operated on that theory for years: Put a few anchor stores in to draw foot traffic and the smaller ancillary stores feast on the revenue rewards of being close by. Of course the inverse effect has also been shown to be a possibility of late; the anchor stores come unmoored, that mall retail space becomes fairly useless as consumers venture out to walk their hallways less and less.
Payments Source
AUGUST 10, 2017
The ability to expedite information with payment, specifically remittances, is the real challenge, writes Mike Fortmann, vice president of Southwest Region for NVoicepay.
PYMNTS
AUGUST 10, 2017
Bank of America is getting into the high end rewards credit card battle, rolling out the Bank of America Premium Rewards credit card in September. According to a news report in The Wall Street Journal the new credit card will give card holders reward points two points for every dollar they spend on travel and dining and one and a half points per every dollar spent on everything outside of those two categories.
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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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