Bank Innovation
NOVEMBER 3, 2017
The biggest threat for the banking sector is not fintechs. No, according to a recent report by McKinsey, that would be non-banking companies such as Amazon and Alibaba. The report refers to these companies as “platform companies” and calls them the “new heavyweight competitor(s) in town,” for the banking sector. Based on information gathered from […].
Chris Skinner
NOVEMBER 3, 2017
I was thinking about this question of how to regulate global technology platforms that don’t recognise national boundaries, mainly in the context of crypto and digital currencies. How can you regulate a global currency that has no view of state or national laws? Obviously, you can only regulate it when … The post Regulating the unregulated appeared first on Chris Skinner's blog.
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Bank Innovation
NOVEMBER 3, 2017
Singapore’s DBS Bank said it launched the world’s largest API developer platform. The platform consists of 155 APIs in over 20 categories, which includes funds transfers, rewards, and real-time payments. The bank said it will continue to add more categories as demands rise. The platform already has 50 companies using it to develop solutions.
Payments Dive
NOVEMBER 3, 2017
In the weeks after Mobile Payments Today asked companies to supply information for last year’s Mobile Wallet Comparison Guide, a number of events happened in the industry that created a lot of buzz. This year? Not so much.
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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
NOVEMBER 3, 2017
EXCLUSIVE– Apple reported earnings yesterday, and tucked in among all the dollar signs and iPhone Xs was some Apple Pay news – usage is going up. From how many users to how many more users, you ask? No idea! Juniper Research estimates the service may hit 86 million users this year. In any case, an […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 3, 2017
Amazon Technologies, a subsidiary of e-commerce giant Amazon, has acquired three domain names relating to cryptocurrency: “amazoncryptocurrency.com,” “amazoncryptocurrencies.com,” and “amazonethereum.com.” Exactly why Amazon decided to register all three of these domain names, no one really knows. This has, predictably, not stopped observers from speculating about what type of grand schemes Amazon may have in the […].
PYMNTS
NOVEMBER 3, 2017
Whether a company is looking to expand its customer base by debuting a new product or into a new geographic market, sometimes it is easier to get by with help from a strategic partner. In the November edition of the mPOS Tracker™ , PYMNTS explores how mPOS technology developers have recently partnered with an eye on bringing in and converting more customers.
Bank Innovation
NOVEMBER 3, 2017
EXCLUSIVE- After just over a year in operation, what’s next for Marcus, the consumer lending platform operated by incumbent bank Goldman Sachs? During the Digital Lending and Investing Conference currently taking place in New York today, Omer Ismail, chief commercial officer of Marcus from Goldman Sachs, highlighted a few areas. Deposits, saving products, and expansion […].
PYMNTS
NOVEMBER 3, 2017
The recent Equifax data breach and a string of ransomware attacks in Europe have raised several questions around cybersecurity. And, arguably, one of the most important questions is how businesses and FIs prepare to respond to the next cyberattack. The November edition of the PYMNTS Faster Payments Tracker™ , powered by NACHA, examines the latest efforts by businesses and governments to make faster payments both more widely accessible and secure.
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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
NOVEMBER 3, 2017
Wells Fargo today announced a standalone personal finance management app, called Greenhouse, for those customers who are new to banking and need an easier way to manage their finances. The app, which is set to officially launch in the first half of 2018, enables a customer to open a bank account without walking into a […].
PYMNTS
NOVEMBER 3, 2017
Amazon has notified customers in at least nine states that the Amazon Fresh grocery delivery service will be closing in certain neighborhoods later this month. According to Recode , Amazon Fresh customers in parts of New Jersey, Pennsylvania, Delaware, Maryland, California, New York, Connecticut, Massachusetts, and Virginia have received the notices.
Bank Innovation
NOVEMBER 3, 2017
EXCLUSIVE–How should financial services build the future of digital lending? Focusing on the simple things is a good start, said John C. Schleck, senior vice president, centralized and online sales for Bank of America. Financial services should focus on “making the easy stuff really easy,” Schleck said yesterday during a panel discussion at the American […].
Bobsguide
NOVEMBER 3, 2017
The annual Money20/20 conference in Las Vegas this year explored key themes and topics shaking up the payments industry. Highlights included keynote speeches from Dan Schulman (CEO, PayPal) and Julie Sweet (CEO, Accenture North America), track sessions exploring how the payments industry requires.
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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.
Bank Innovation
NOVEMBER 3, 2017
Two speakers have joined the speaker faculty of Bank Innovation 2018 for fireside chats: Avin Arumugam, senior vice president of Internet of Things at Visa, and Adam Ludwin, CEO of blockchain startup Chain. Arumugam was previously head of next-generation payment products at JPMorgan Chase, as well as senior products manager at PayPal. Ludwin founded Chain […].
PYMNTS
NOVEMBER 3, 2017
The country’s largest banks, JPMorgan Chase & Co. , Bank of America and Citigroup, are reducing loans to retailers at a time when the industry is also facing doubts from bond investors. According to TheStreet , JPMorgan , the largest U.S. bank by assets, cut its total exposure to consumer and retail companies by 3.6 percent last quarter to $87 billion as of September 30.
Bobsguide
NOVEMBER 3, 2017
Technology is an ever-moving target. That’s how I’ve described it to my children, adding that it’s also one of the most demanding working environments, because every few weeks or months you need to understand and account for new technologies changing the nature of IT. In other.
PYMNTS
NOVEMBER 3, 2017
If there is one universal truth in payments, it’s that the easier a process feels to consumers, the more difficult it was to implement on the back end. Such is the case with EMV — the chip that allows customers to pay with a credit card by inserting or “dipping” it into a point-of-sale (POS) card reader instead of swiping the old mag stripe. Consumers have eagerly embraced the EMV chip, believing it to be more secure, but merchants have not been so quick to open their arms to the new method, eve
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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
NOVEMBER 3, 2017
The iPhone X is a very different type of smartphone, shedding much of Apple's familiar hardware design and adding new, unproven features. Here are some of the ways the iPhone X is changing mobile payments.
PYMNTS
NOVEMBER 3, 2017
The U.K. wants to help small and medium-sized businesses (SMBs) adhere to the new European Union’s General Data Protection Regulation (GDPR). The regulation comes into effect next May, and the country is deploying a helpline service as part of its effort. The U.K.’s Information Commissioner’s Office (ICO) said it launched a small business phone service this week to provide advice and guidance to SMBs on how to get ready for the new GDPR regulations, laws aimed at protecting cus
Let's Talk Payments
NOVEMBER 3, 2017
Revolutionary technology is rarely spoken of in terms of real-world returns. Rather, it is heralded for the opportunities/possibilities it opens for businesses that can perfect it in business cases and.
PYMNTS
NOVEMBER 3, 2017
Takeaway.com , the Dutch online food delivery marketplace, announced news on Thursday (Nov. 2) of a partnership with TripAdvisor , the travel site, in which it will integrate Takeaway.com’s network of over 31,000 restaurants into TripAdvisor’s desktop site, mobile website and app. Takeaway.com said in a press release that, as a result of the partnership, TripAdvisor customers will be able to order food from Takeaway.com’s restaurant partners across Germany, the Netherlands, Poland, Austria, Bel
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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
NOVEMBER 3, 2017
In the U.S., Visa Direct has emerged as one of the few go-to tools for fast payments in a market that is overdue for such options. The product's true test begins now, as Visa launches it in Europe, where faster payments options are far more plentiful.
PYMNTS
NOVEMBER 3, 2017
Cardtronics , the world’s largest ATM owner and operator, revealed that it has exceeded earnings expectations for the third quarter of 2017. The company, which is based out of Houston, TX and operates globally, had total revenues of $402 million in the quarter ending September 30, 2017 – a 22 percent increase from $328.3 million. In a press release , Cardtronics stated that the boost was driven by the DirectCash Payments and Spark ATM Systems acquisitions completed at the beginning of the year.
Let's Talk Payments
NOVEMBER 3, 2017
The world is getting smarter and the consumers are becoming increasingly impatient, especially in today’s digital age. With technology innovations happening every day, customers are looking for services which require.
PYMNTS
NOVEMBER 3, 2017
Until quite recently, small businesses (SMBs) have been stuck with their financial institutions (FIs) either providing them with sophisticated, expensive treasury management offerings or simply making do with banking services designed for individual consumers. Banks have quickly figured out that their business-to-consumer (B2C) services can’t meet all the needs of their SMB banking clients, and yet, as Puneet Malhotra, senior vice president of banking technology firm VSoft , said, small business
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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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