Fri.Aug 17, 2018

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BBVA Compass App Update Allows All Customer Accounts to Be Aggregated

Bank Innovation

As head of online and mobile banking at BBVA Compass, Alex Carriles is always thinking of ways to increase customer interaction via digital channels by catering to an existing customer need, instead of creating a new one. This is what led to the addition of its latest mobile banking feature, a financial tool that lets […].

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Podcast Episode 6: Kount VP discusses Machine Learning, AI, and how the technologies help the mobile payments industry

Payments Dive

Host Will Hernandez, discusses machine learning, with Kount VP of Marketing, Don Bush. Will also chats with Cherryh Cansler, editor of FastCasual, about mobile ordering and the restaurant industry.

Industry 199
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How Crédit Agricole Staves Off Competition From Fintechs

Bank Innovation

Bank Innovation has learned that Crédit Agricole, a €1.76 trillion ($2.01 trillion) bank headquartered in France, has achieved 70% digitization of its service offerings among its worldwide network of banks throughout Europe and North Africa. A spokesperson at the bank said the financial institution network hopes to achieve 100% digitization of its services by the […].

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Best Buy Plans To Buy GreatCall For $800M

PYMNTS

To continue to tap into the connected-home market, Best Buy plans to purchase GreatCall, Inc. for $800 million. The retailer expects that the deal will close by the end of the third quarter, Bloomberg reported. GreatCall makes emergency-response systems and smart phones geared towards seniors. The firm has over 900,000 subscribers, between its wearable devices and Jitterbug mobile phones.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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NCR and Diebold’s Troubles Point to the Decline of ATMs (and Cash?)

Bank Innovation

NCR Corp. and Diebold Nixdorf Inc. reported earnings in the last few weeks, and it wasn’t pretty. “Hardware revenue was down 16% in the quarter and margins were down 400 basis points,” said NCR’s CFO Bob Fishman. (It’s not all bad for NCR, which also owns the digital banking software provider Digital Insight — software […].

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More Trending

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Machine learning may find fraud victims before the scammers do

Payments Source

Financial institutions are hoping to get ahead of the growing and seemingly insurmountable problem of payment card fraud not just by looking at who cyber-attackers are going after currently but who they are likely to defraud in the near future.

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Bots Enter The Uncharted Territory Of Accounting Compliance

PYMNTS

Bots are marching steadily into the corporate accounting department as professionals feel more comfortable handing tasks to a machine. Since automation technologies have taken some of the burden of monotonous activities away from accountants, the profession has exchanged some of its anxiety about robots replacing their jobs with support for enhanced functionality and efficiency — though, not entirely.

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Should payments businesses become consumer brands?

Bobsguide

A recent Intrapay study into consumers’ ecommerce experiences revealed the key conundrum facing payment processors; the challenge of providing simpler payments while offering optimum security. Some 90% of the 650 respondents to the study reported that security is the most important aspect.

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TRENDING: Making Mobile Order-Ahead Appealing To App-Weary Customers

PYMNTS

Not every consumer wants to add yet another app to their mobile phone. In fact, smartphone users aged 35 to 54 delete their existing apps more frequently than they download new ones, according to a recent report. That’s a problem for fast-casual and quick-service restaurants (QSRs), which are betting on apps to boost mobile ordering. In the August Mobile Order-Ahead Tracker , PYMNTS explores how restaurants and service providers alike are working to find new ways to reach app-weary customers, in

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The State of Automation in Financial Services 2024 Report

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

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8.17.18 Your morning briefing

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: Google Pay adds more banks; Diebold Nixdorf scores a win in patent fight; Ant dominates Asian fintech investment; California may allow cryptocurrency political donations.

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Walmart, Home Depot And Macy’s Beat Q2 Earnings Expectations

PYMNTS

After what feels like years writing about the ongoing retail apocalypse, it is just a touch surprising to see retail do so well this week — especially physical retail. But, much like the the dog days of summer, physical retail has been undeniably on fire as earnings results have started to roll in. The people, it seems, are a spendin’ — and they are even going to the stores to do it.

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How an anticipated ATM hack netted $13 million from India’s Cosmos bank

Payments Source

After warnings of an impending major ATM cash-out had bank security teams working overtime last weekend, crooks made off with over $13 million over the weekend in a double attack on India’s venerable Cosmos bank.

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letgo CEO: How AI Helps Reinvent The Secondhand Marketplace

PYMNTS

What’s old is new again, kind of — or how about secondhand goods and first-rate funding? Funding of $500 million is affirmation, it seems, of a marketplace that underpins the buying and selling of used goods. Online firm letgo , which brings sellers who want to unload secondhand items to interested buyers, said this month that it closed a $500 million funding round from Naspers , a South Africa-based internet and media firm.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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How finger vein payments are catching on in the U.K.

Payments Source

To date, payments companies have feared common biometric methods such as fingerprint or iris scanning are unreliable and susceptible to hacking. However, there’s growing evidence that finger vein ID could prove more palatable.

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CITCON Rolls Out Cross-Border Payments At Mall Of America

PYMNTS

To help Mall of America merchants engage with Chinese consumers, CITCON has teamed up with the shopping complex to offer stores a cross-border mobile payments system. The feature will be offered in merchandise shops, Nickelodeon Universe and guest services, CITCON said in an announcement. “Chinese consumers have become accustomed to the idea of doing everything on mobile,” CITCON Founder and CEO Chuck Huang said in the announcement. “Accepting the familiar and preferred mobile payme

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Payments' new diversity will falter without innovative gateways

Payments Source

Installing a modern payment gateway, for example, makes the checkout process more convenient, speeding up order processing while offering alternative payment methods, saved customer information and location-specific options, writes Amit Bhaiya, co-founder and CEO of DotcomWeavers.

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Bank Of China And China UnionPay Unveil Blockchain Partnership

PYMNTS

To look into blockchain payment applications, Bank of China (BOC) is teaming up with China UnionPay. The tie-up was fueled by regulatory requirements as well as market demand, and provides opportunities for cross-border payments, Cointelegraph reported. The two companies are seeking to look into distributed ledger and big data technology to update products for mobile banking.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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The pros at cons

Matt Wilcox Pro

Popular movies like American Hustle, Dirty Rotten Scoundrels, The Sting, and Catch Me If You Can show that audiences like a good con artist story. The films even manipulate—con?—us into rooting for the bad guy, our consciences somehow assuaged by marks who deserve or at least can afford the loss. The deserving-mark trope entertains, but in real life cons hurt [.

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Coinbase Snares Patent To Help Secure Bitcoin Transactions

PYMNTS

Coinbase, the cryptocurrency exchange, has snagged a patent that looks to bring a measure of security to payments done over bitcoin. As reported by several media outlets, including ones focused on cryptocurrencies such as CoinDesk , Coinbase’s efforts were published in a filing earlier this week. The overarching theme of the patent is one where a payment portal would foster bitcoin payments done directly, as CoinDesk notes, from digital wallets.

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5 key characteristics of a digital banking mindset

ATM Marketplace

Every consumer is a digital consumer, and to be in banking means you have to be in digital banking. Frankly, digital is no longer an expense; it's a necessary investment that can deliver real returns for the financial institution.

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Blockchain, Energy Use Draws Senate Attention

PYMNTS

Blockchain gets scrutiny on all sides, and in one looming examination, the United States Senate will examine the impact blockchain has on the energy ecosystem — specifically, how it affects the use of electricity. Cointelegraph reports that the Committee on Energy and Natural Resources is set to hold a hearing next Tuesday (Aug. 21), on the “Energy Efficiency of Blockchain and Similar Technologies.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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Walmart Patent Wants You To Shop At Home Using Virtual Reality

CB Insights

Instead of getting into your car and driving to a Walmart store, what if you could just slide on a headset and step into one? Two new patent filings published yesterday reveal that the retail giant may be considering building up virtual reality storefronts. The patents describe a virtual reality headset paired with sensor-laden gloves that would allow consumers to interact with a Walmart store in a virtual world.

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Bitcoin Daily: Bitfinex Sees Bets Against Bitcoin Double, Thai Watchdog Reviews Crypto License Application

PYMNTS

Thailand’s financial watchdog has published the names of seven firms that have applied for a license to operate in the cryptocurrency space within the country, Cryptovest reported. Trading sites such as Coin Asset, TDAX, Bitcoin Co. Ltd., Bitkub Online and Cash2coins have filed for a license with Thailand’s Securities and Exchange Commission (SEC). And two dealers, Digital Coin and Coins TH, have put in applications through the agency.

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Announcing TRANSFORM

CB Insights

Most companies believe innovation is important, but few are pursuing transformational change. That’s why we’re launching TRANSFORM , a CB Insights Conference, December 4-5 in NYC. Drawing on the experience of successful executives from today’s top companies and the latest research on technology, growth and innovation, TRANSFORM will cut through the fog about the coming digital revolution with a focus on how to conceive, execute and scale growth strategies.

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Five At Five: Does Walmart Have A Secret Weapon?

PYMNTS

Welcome to Five at Five, your late look at today’s payments and commerce news. Today’s coverage includes discussion of an edge that Walmart may have on Amazon, along with big funding news in the world of last-mile logistics. Best Buy wants to make a major acquisition, China has the lead in a hot consumer product and there is a new mobile accounting tool for SMBs.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.