Bank Innovation
OCTOBER 12, 2017
Professional services company, Accenture, has been hired by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) to develop a prototype using distributed ledger technology (DLT) for processing interbank payments. The project is in Phase 2 of an initiative called Project Ubin, which is led by MAS and ABS as […].
Chris Skinner
OCTOBER 12, 2017
I find it interesting as we move towards Open Banking and Open APIs through regulations at both the UK and EU levels. The push is for data sharing with trusted third parties with user consent. All well and good, you would think, but several surveys point to it not being … The post Don’t be so blasé about people loving FinTech appeared first on Chris Skinner's blog.
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Bank Innovation
OCTOBER 12, 2017
The People’s Republic of China will likely re-legalize cryptocurrency trading, ending its nation-wide ban on crypto exchanges from early September, as reported by cnLedger, a well-known source on cryptocurrency news in China. The report in question revealed that Xinhua News, recognized by many as the voice of the Chinese Government, published the following statement: Virtual […].
Payments Dive
OCTOBER 12, 2017
Artificial intelligence (AI) is a hot topic, and companies everywhere are exploring how this technology can help to enhance the customer experience. The banking software company Auriga has published a whitepaper to explain what the financial industry needs to keep in mind when implementing AI-powered chat bots.
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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
OCTOBER 12, 2017
EXCLUSIVE – As part of its ongoing crusade to make money manageable for the average American, PFM app MoneyLion has a new feature that will warn the user before an overdraft occurs. The new feature, launched today, works by providing push notifications on a user’s mobile when an account balance is low and is likely […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
OCTOBER 12, 2017
EXCLUSIVE— With 12% growth in mobile active customers year over year, JPMorgan Chase is quite aware of mobile banking’s growing popularity, but that doesn’t mean the bank is ready to kill its branches. Branches, according to Marianne Lake, chief financial officer, JPMorgan Chase, still matter. This is even as the bank continues to see growth […].
PYMNTS
OCTOBER 12, 2017
A significant portion of small businesses (SMBs) may not even know they have been a cyberattack victim due to a lack of understanding as to what constitutes a cyberattack, according to new research from insurance firm Nationwide. This week, the company published the results of a survey of 1,069 U.S. businesses with between one and 299 employees to understand how small firms are addressing the widespread, complex threat of cyberattacks.
Bank Innovation
OCTOBER 12, 2017
Financial services firm Finastra is bringing payments to Microsoft’s cloud platform, Azure, which will allow clients to access digital payment solutions via the cloud. Bringing payments to the Azure cloud will also enable banks and other financial service clients to more quickly make use of new upgrades or products; the cloud will also provide “streamlined […].
PYMNTS
OCTOBER 12, 2017
Everybody loves rewards. For customers, earning points and redeeming them feels like winning a prize; it makes them feel special and taps into their innate competitive nature. For businesses, offering that experience can make them stickier with consumers, as the merchant or establishment creates reasons for consumers to keep coming back — sometimes just to reach that next level of reward!
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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
Bank Innovation
OCTOBER 12, 2017
Discover has become the first major credit card company to let its customers redeem cashback rewards with Apple Pay. This is according to a release by the company yesterday, which states that cardholders can now redeem rewards after a purchase in just “two touches,” Szabolcs Paldy, vice president of e-business for Discover, said in the […].
PYMNTS
OCTOBER 12, 2017
Aiming to compete better with the likes of Amazon and Walmart, Target announced news on Thursday (Oct. 12) of a new partnership with Google in which customers can use Google Express , its home delivery service. What’s more, the retailer announced customers can shop Google Express via Google Assistant, its voice-activated digital assistant found on its Google Home devices and on Android TV.
Bank Innovation
OCTOBER 12, 2017
Los Angeles based FastPay, a fintech that specializes in providing financing to media companies, has acquired AnchorOps, an electronic payment solutions provider for media buyers. Terms of the transaction were not disclosed. According to a company statement: Combining FastPay’s focus on lending to media sellers and AnchorOps’ proficiency in payments and reconciliation for media buyers […].
Payments Dive
OCTOBER 12, 2017
Why work-life balance is important and three steps you can take to achieve it.
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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
OCTOBER 12, 2017
Banking giant JPMorgan reported results that bested Wall Street estimates on Thursday, buoyed in part by strong growth in its card business and mobile initiatives. The headline numbers show that the company’s earnings came in at $1.76, which beat the $1.65 consensus. Revenues were $26.2 billion, while the Street had pegged $25.6 billion. In the consumer and community banking segment, revenues were up 6 percent year on year to $12 billion.
Let's Talk Payments
OCTOBER 12, 2017
Financial startups have great potential to have a social impact on the population, especially in emerging economies such as Brazil. FinTech startups that received the most contributions reflect that the.
PYMNTS
OCTOBER 12, 2017
Just days after the Federal Reserve released a report highlighting the changing role of small business loans at community banks, the latest Biz2Credit Small Business Lending Index published, suggesting small and medium-sized business (SMB) lending at small banks remains strong. The Index, released Wednesday (Oct. 11), found that small business loan approval rates at small banks increased 0.10 percent in September hitting 49.1 percent.
Let's Talk Payments
OCTOBER 12, 2017
Renaud Laplanche, Co-founder & CEO of Upgrade, shares his thoughts on where online lending is today, where it is going, and how it fits the broader FinTech trends. Online Lending.
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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
OCTOBER 12, 2017
Teen spending behavior is changing, according to recent findings from investment bank and asset management firm Piper Jaffray Companies’ semi-annual “Taking Stock With Teens” survey. In this year’s edition, the results of which were announced Wednesday (Oct. 11), teens appear to have a measurable, growing interest in digital and a declining taste for traditional brands.
Payments Source
OCTOBER 12, 2017
Using an automated solution to process virtual card payments is the first step in overcoming the challenges of this payment technology, writes Ed Jordan, CFO of Billtrust.
PYMNTS
OCTOBER 12, 2017
While there are many ways to mark the start of the holiday season each year — the appearance of decorations, the sprinklings of early Black Friday sales, the radio station that only plays Christmas songs for the entire month of December — our favorite here at PYMNTS remains the annual Amazon staff-up. America’s largest eCommerce player is adding 120,000 temporary employees to work in its fulfillment centers nationwide, according to Thursday (Oct. 12) reports, a temporary workforce that wil
Payments Source
OCTOBER 12, 2017
In the digital age, a lot has changed about how businesses operate — and a lot of new data is being generated in the process. American Express is tapping into this data for instant credit decisions.
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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
OCTOBER 12, 2017
Cash Management is a term used in everyday parlance by Corporate Treasurers, CFOs and other senior financial people in most medium to larger organisations. Generally speaking they all use the term in the same context and many accompany it with the term Cash Forecasting. So, Cash Management and.
Payments Source
OCTOBER 12, 2017
Most financial institutionsl use outdated legacy systems that are siloed by factors such as lines of business and geography, writes Suresh Ramamurthi, chairman and CTO of CBW Bank.
Let's Talk Payments
OCTOBER 12, 2017
Today’s picks of interesting articles are going to be half-consistent in a good way, with one common thread – outstanding leaders working hard to define the FinServ realm. Startup Ripple.
BankNXT
OCTOBER 12, 2017
Stephen Peters offers advice to the payments industry at large, and it's a message based on removing friction from the commerce process. It’s not about the payment, it’s about the experience on BankNXT.
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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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