Bank Innovation
JANUARY 3, 2019
Acquisitions, partnerships and the roll-out of various new products and services made 2018 a very active year in banking and fintech. But was it all just setting the scene for an even busier 2019? Here are Bank Innovation's 5 companies to watch this year, selected by editors' choice, in no particular order: PayPal This payments […].
PYMNTS
JANUARY 3, 2019
The new year brings time for reflection and projection. To that end, any number of analyses are coming in the blockchain arena. According to an article via the MIT Technology Review , this will be the year that blockchain becomes “boring,” with innovative projects that will “bear fruit” this year even amid the declines seen last year in the sector, and in cryptocurrencies.
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Bank Innovation
JANUARY 3, 2019
Half of Spanish Bank BBVA's customers transact through digital channels, the bank tweeted today. Derek White, BBVA’s global head of client solutions, said in a company blogpost: Despite having known this milestone was coming for a while, it is a tremendous validation of our transformation strategy and for our colleagues to have reached it. Passing […].
PYMNTS
JANUARY 3, 2019
Once upon a time — about a decade ago — there was this QSR executive who observed the rise of online retail, but figured those changes would never apply to his businesses. He would never ship a hamburger, he thought. Nor would the basic processes of fast food change — people would still line up before a cashier, or take their place in the drive-thru, recite their order, pay and then take their food.
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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
Insights on Business
JANUARY 3, 2019
For financial institutions, the benefits of moving away from legacy in-house systems to the cloud are obvious. A cloud environment offers financial institutions greater speed and agility than their current environments. But while mobile devices give us great power and convenience, they also create new security and privacy challenges. Financial institutions face a similar dilemma – while moving to the cloud makes sense for a number of reasons, it also presents a new set of challenges.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
JANUARY 3, 2019
A digital exchange opening next week will enable investors to trade in companies including Apple Inc., Facebook Inc. and Tesla Inc. outside of the U.S. even when the stock markets are closed.
PYMNTS
JANUARY 3, 2019
The ongoing battle between Apple and Qualcomm continued on Thursday (Jan. 3), with the latter striking a decisive blow over the copyright infringement suit it brought against the American tech giant. Qualcomm, a telecommunications and chip making company, said it posted security bonds amounting to $1.52 billion to start the enforcement of a court order from a German court.
Payments Source
JANUARY 3, 2019
The payments process isn’t about just checking a box or signing a check anymore; it’s about cultivating genuinely beneficial relationships for all involved that build trust and drive growth, writes Ravi Thakur, senior vice president of business acceleration at Coupa.
PYMNTS
JANUARY 3, 2019
It’s an annual tradition come early January — people everywhere pulling back from their resolutions, finding some wiggle room in the certainty of change that seemed so absolute only a week or two ago. You can be sure that one area of regression involves social media. New research, in fact, supports that idea — specifically, the high value that consumers attach to Facebook , and the high cost it would take to make them leave the social media platform.
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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
Bobsguide
JANUARY 3, 2019
In this Fintalk podcast, Transact Payments, W2 Global Data and Global Processing Services (GPS) discuss the challenges of launching a prepaid e-money programme. Listen to the podcast or read the full transcript below. Transcript. Hello and welcome to this Fintalk podcast. Today.
PYMNTS
JANUARY 3, 2019
Overstock , the online retailer and blockchain company, announced Thursday (Jan. 3) that it will pay a portion of its state business taxes in Ohio in bitcoin, becoming the first major U.S. company to pay state taxes in bitcoin. In a press release , Overstock said it plans to pay its commercial activity taxes (CAT) in Ohio this coming February using the state’s recently launched OhioCrypto.com platform, which lets taxpayers pay state business taxes with bitcoin.
Payments Source
JANUARY 3, 2019
By adopting faster payments, businesses have more flexibility to make last-minute payments and emergency payrolls, or gain a larger window for early-payment discounts.
PYMNTS
JANUARY 3, 2019
Live by the Chinese consumer, die by the Chinese consumer. Apple , of course, is getting cored, on the heels of a surprise announcement that, in hindsight, should not have been a surprise. At this writing, shares of the tech giant are down 9 percent in intraday trading, as on Wednesday (Jan. 2), CEO Tim Cook said via letter to shareholders that revenues will be lighter than expected, at $84 billion for the quarter and down from a range of $89 billion to $93 billion.
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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.
Bobsguide
JANUARY 3, 2019
Despite significant rules designed to unbundle research costs within the asset management industry - which came into force under the second Markets in Financial Instruments Directive (Mifid II) - many of the behaviours undertaken before the directive have continued, says Chris Turnbull,
PYMNTS
JANUARY 3, 2019
Well, let’s start with the bad news first, even at the risk of robbing some of the joy and optimism that comes with the new year. As bad as one might think the risks of cybercrime are (fraud, hacking, data breaches , customer and revenue loss, lawsuits and fines), the reality is probably worse. That’s because those threats are relatively localized, and don’t take into account the risk of hackers (especially those backed by organized militaries and nation-states) taking down key infrastructures.
Bobsguide
JANUARY 3, 2019
Financial services are struggling with a customer blind spot that’s hampering innovation, says Steven Gates, head of design transformation at InVision, the company behind the design function of airbnb, Uber and Netflix. “Innovation has become very happenstance and bogged down, because.
PYMNTS
JANUARY 3, 2019
Amazon saw the number of skills made for Alexa lodge huge growth in the U.S., U.K. and Germany in 2018. According to a report in voicebot.ai, the number of Alexa skills more than doubled in the U.S., increased 233 percent in the U.K. and grew 152 percent in Germany during last year. The rate at which skills were made for Alexa picked up in the second half of last year in all three countries, with a big increase coming in November and December.
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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.
Payments Source
JANUARY 3, 2019
Banks, retailers and technology companies have spent years relentlessly working to replace cash with plastic, digital or mobile alternatives. And cash has hit back hard.
PYMNTS
JANUARY 3, 2019
BitTorrent introduced a digital token that enables its users to receive faster downloads on the file-sharing platform, Venture Beat reported. The BitTorrent Foundation-issued cryptocurrency will let users earn rewards for sharing their computer power. At the same time, users can use the tokens toward speedier downloads on the company’s network. BitTorrent CEO Justin Sun, who is also the founder of TRON, said in an announcement , “In one giant leap, the BitTorrent client can introduce blockchain
Bobsguide
JANUARY 3, 2019
Insurance renewal rules by the UK’s Financial Conduct Authority (FCA), which were created to encourage consumers to shop around as contracts approach expiration, have failed to have any significant impact according to Phoebe Hugh, CEO of insurtech, Brolly. “The biggest challenge for.
PYMNTS
JANUARY 3, 2019
To encourage diners to skip the line and order ahead, quick-service restaurants (QSRs) have offered their customers rewards, discounts and other incentives. Their aim is to help turn one-time buyers into return customers and encourage them to spend more at their restaurants — and visit more often. Taziki’s Mediterranean Café , for instance, has seen its online and to-go orders increase by 200 percent over the past three years.
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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
JANUARY 3, 2019
Last year, Microsoft Corp.’s Azure security team detected suspicious activity in the cloud computing usage of a large retailer: One of the company’s administrators, who usually logs on from New York, was trying to gain entry from Romania. And no, the admin wasn’t on vacation. A hacker had broken in.
PYMNTS
JANUARY 3, 2019
Consumers in the digital age don’t really embark on commerce journeys anymore, so much as they find themselves always on one. This is a situation that Chief Marketing Officer Devon Watson at Diebold Nixdorf calls the “constant stream of commerce,” which means consumers are bombarded with content of all kinds from brands and merchants, all constantly vying for their attention.
Payments Source
JANUARY 3, 2019
While the gig economy has become more prevalent in recent years, the traditional banking market has provided few innovations for tackling the various payment-related challenges faced by businesses which utilise these workers.
PYMNTS
JANUARY 3, 2019
A new study has revealed that retailers will lose around $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023. Juniper Research’s new report, Online Payment Fraud: Emerging Threats, Segment Analysis & Market Forecasts 2018-2023 , explained that complex cross-channel fraud will become the “new normal” in the coming years — and retailers are simply not prepared to fight against 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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