Payments Dive
JUNE 8, 2018
Gen Z is on the scene and ready to leave their own mark on banking and payments. This latest generation, born after 1999, view the world completely differently than those who have gone before.
Bank Innovation
JUNE 8, 2018
PREMIUM - When was the last time you went to your bank branch to deposit money? Still thinking? That's because most of the daily banking activity has shifted from branches to the smartphone. But that's not to say people don’t use bank branches at all. They do, but not for the same reasons as they […].
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Chris Skinner
JUNE 8, 2018
I got called out in one review of my new book Digital Human calling it a “futurist’s wet dream”, which I thought was a bit much. The reviewer doesn’t work in finance, didn’t like my views on science fiction becoming science fact, didn’t buy into the revolutions of humanity and … The post I found a troll! appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 8, 2018
What is the state of banking innovation today? Each year, we poll the industry to find out. Bitcoin mania has died down in the fintech world, and the conversation has shifted to technologies like voice banking, payments, and alternative credit scoring. This year, the pressure for banks to innovate is high, as banks no longer […].
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.
Chris Skinner
JUNE 8, 2018
Things we’re reading today include … TSB chief under pressure to quit after rebuke from MPs London Stock Exchange trading opens hour late after ’embarrassing’ blackout Ant Financial valued above Goldman Sachs in $14bn funding MPs gun for under-fire TSB chief after IT fiasco SocGen executives ordered Libor rigging, US … The post Things worth reading: 8th June 2018 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bobsguide
JUNE 8, 2018
Many organizations are making the move to cloud-native platforms as their strategy for digital transformation. Cloud native allows companies to deliver fast-responding, user-friendly applications with greater agility. However, the architecture of the data in support of cloud-native transformation is.
PYMNTS
JUNE 8, 2018
Sun Tzu might approve. As every general and C-suite pseudo-warrior knows, the ancient Chinese military theorist advised that every battle is won before it is ever fought — a saying that highlights the importance of preparation prior to any fight. The recent news that Goldman Sachs is the first financial institution (FI) to sign up with U.K.-based Immersive Labs for its cyber security war games demonstrates the enduring appeal of that adage.
Payments Source
JUNE 8, 2018
Only the collective efforts of cardholders, issuers, merchants and acquirers will significantly impact payment fraud, writes Stephanie Ericksen, vice president of identity and risk products for Visa.
PYMNTS
JUNE 8, 2018
Clarity , a startup that offers small businesses (SMBs) a way to manage their data , announced plans for a token sale before its official launch. Reports in Cointelegraph on Thursday (June 7) said Clarity will sell $50 million worth of its tokens to raise funds before its debut on the market. The company provides a platform for SMBs to manage their own data with added analytics, file sharing, benchmarking and third-party verification services.
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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
Bobsguide
JUNE 8, 2018
In the new economy, the endgame for financial services is becoming clearer. Accessibility will be the norm, the app store is the new high street and the financial app the vehicle that will deliver a financial future in which Open Banking will become the norm for all. ‘Changing consumer.
PYMNTS
JUNE 8, 2018
To verify payment cards at the point of sale (POS), Mastercard is looking into blockchain technology. In a filing with the U.S. Patent and Trademark Office (USPTO), the company said it has devised a process to send and retrieve payment credentials through a “publicly accessible blockchain,” CoinDesk reported. Through a two-way method, the system encodes an encrypted payment card image that is stored on the blockchain with a private and public key.
Payments Source
JUNE 8, 2018
The information you need to start your day, from PaymentsSource and around the Web: Mastercard gets a blockchain patent; A cryptocurrency for pot may sponsor Dennis Rodman's trop to the Singapore summit; The networks and XRP team on a wallet toolkit; ABN Amro gamifies technology hiring.
PYMNTS
JUNE 8, 2018
The Amazon -effect is back at it again in the B2B world. With eCommerce now a mainstay for consumers, B2B eCommerce is quickly coming into the fold, too. There is a lot of money to be earned. Statistics estimates that retail eCommerce sales will hit $4.5 trillion by 2021, a more than 246 percent increase from 2014. B2B eCommerce, on the other hand, is already estimated to enable $7.7 trillion in online sales — about 235 percent more than B2C’s current sales volume.
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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
JUNE 8, 2018
Financial institutions can improve monitoring of suspicious activity and potentially risky customers using algorithms, but they need to treat this new technology with caution.
PYMNTS
JUNE 8, 2018
Since the dawn of the age of computers, human beings have wondered what will happen when the machines eventually learn how to “think” like humans do. The consensus among science fiction writers is “nothing good.” Whether they rise and destroy humanity outright, or insert our consciousness into a giant simulation of the late 1990’s to turn us into biomechanical batteries, depends on the creative imaginations and special effects budget of whoever’s telling the s
Payments Source
JUNE 8, 2018
With increasing numbers of alternative providers gaining licenses to provide payment services aimed specifically at businesses, Beck predicts the pressure on the banks to offer faster and cheaper services is going to substantially increase.
PYMNTS
JUNE 8, 2018
Dueling headlines show that when it comes to the gig economy, differing data tell different stories. Citing findings from the Bureau of Labor Statistics (BLS), The Washington Post noted that the share of U.S. workers in the gig economy has fallen to 6.9 percent of workers at the end of last year from 7.4 percent in 2005. Based largely on that headline, the assumption is that firms in the gig economy, namely marquee names such as Uber and Lyft, have not rendered the sea change that had been expec
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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
JUNE 8, 2018
Payroll needs can be tricky — especially on the open seas, where cruise staffers often have to go through several expensive steps to cash out their paychecks.
PYMNTS
JUNE 8, 2018
Wells Fargo was fined $185 million in 2016 for opening millions of potentially fake accounts, prompting the Office of the Comptroller of the Currency (OCC) to perform a months-long industry-wide review. However, the U.S. regulator has concluded that the practice of creating fake customer accounts isn’t a sign of a broader issue for the financial industry.
Payments Source
JUNE 8, 2018
The cashierless Amazon Go store is barely more than an experiment — it's live in only one location in Seattle, with plans for a handful of stores to follow this year — but it has already sparked a race to put similar models in place.
PYMNTS
JUNE 8, 2018
The Indian government’s effort to demonetize has hit some speed bumps — namely, a lack of preparedness and an unwillingness among the country’s citizens to fold up their cash. It issued a ban on the nation’s higher denomination 500- and 1000-rupee notes in November 2016, essentially deeming 86 percent of its currency invalid. Though the ban was intended to shift India into the digital economy fast lane, improve tax revenues and crack down on corruption, cash continues to play a strong role in In
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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
JUNE 8, 2018
When asked if other banks were being sued, USAA said the lawsuit names only Wells Fargo because the bank is one of the biggest adopters of remote mobile deposit capture and has failed to license the technology.
PYMNTS
JUNE 8, 2018
Human capital management company Ceridian HCM Holding announced on Thursday (June 7) a new feature of its Dayforce HCM solution that can help business users address issues with employee retention. Ceridian announced Dayforce Flight Risk, a solution that uses predictive analytics to forecast when an employee may be ready to quit. According to the company, employees are more likely to switch jobs and careers in an era of record-low unemployment.
Payments Source
JUNE 8, 2018
Two factions that have taken on the card networks on separate fronts are combining their might in the latest effort to pressure Visa and Mastercard.
PYMNTS
JUNE 8, 2018
A group of investors in Canada and France has announced a partnership to launch a transatlantic fund aimed at facilitating investment in small businesses (SMBs) in Quebec and France. A press release on Thursday (June 7) said the fund closed its first financing round to the tune of $92.3 million. Announced at the French embassy in Ottawa, the fund is co-managed by Siparex Groupe , a French private equity investor, and Desjardins Capital , a Quebec-based asset management firm.
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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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