Chris Skinner
MARCH 7, 2018
I recently wrote an article for Bloomberg’s Business Week, and thought it worth sharing with y’all here: What’s next for blockchain? Everyone got very excited a few years ago about blockchain technologies, the ledger system that was spawned by the arrival of bitcoin in 2009. It allows the recording of … The post What’s next for blockchain?
Bank Innovation
MARCH 7, 2018
EXCLUSIVE–The potential use cases of blockchain technology in banking continue to captivate bankers, but topics like cryptocurrency and Initial Coin Offerings, or ICOs, may be losing a bit of their edge. This is according to a panel on the subject during Bank Innovation 2018, which wrapped up yesterday in San Francisco. Speakers on the panel,Read More.
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Chris Skinner
MARCH 7, 2018
Things we’re reading today include … SWIFT Claims ‘Huge’ Progress on DLT Bank Pilot Ripple develops blockchain-powered payment app with 61 banks to speed up transactions in Japan Exclusive: Goldman puts some London staff on notice for German move by June – sources City of London ‘impossible’ to replicate, Hammond … The post Things worth reading: 8th March 2018 appeared first on Chris Skinner's blog.
Bank Innovation
MARCH 7, 2018
EXCLUSIVE (SAN FRANCISCO) -- Welcome back to the fintech boom. At this time last year, fintech was in a downturn. Fintech venture funding was down more than 9% year-over-year; valuations seemed stuck. But the fintech market has rebounded. In 2017, in the United States, overall VC funding -- a barometer of startup activity and appeal.Read More.
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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
MARCH 7, 2018
“If the bringing of women – half the human race – into the center of historical inquiry poses a formidable challenge to historical scholarship, it also offers sustaining energy and a source of strength.” – Dr. Gerda Lerner. On this International Women’s Day 2018 and to continue Women’s History Month , I would like to acknowledge and reflect upon some of the extraordinary, and often understated, work that women have contributed not just to this company, but to the good of
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bobsguide
MARCH 7, 2018
Bank account structure is a key aspect of treasury management but it is also one of the most complex to understand and implement for a treasurer. There are a range of options and trade-offs that a treasurer must consider; a corporate can establish a one-to-one account-to-business unit (BU) account.
PYMNTS
MARCH 7, 2018
Ripple — the blockchain company whose technology powers the cryptocurrency XRP — has created a new payment app in which transactions are settled instantly. According to news from CNBC , the new app was created with a group of 61 banks in Japan. Dubbed Money Tap, the mobile app will launch in the fall and will be initially offered through SBI Net Sumishin Bank, Suruga Bank and Resona Bank, three of the consortium partners.
Payments Source
MARCH 7, 2018
The many fintech startups that burst on the scene to compete with Western Union or MoneyGram are morphing into something else — white label providers for companies running on dated infrastructure.
PYMNTS
MARCH 7, 2018
The whirlwind of FinTech investment shows no signs of slowing. In fact, new data from venture capital (VC) analysis firm CB Insights, analyzed by global management consulting and professional services firm Accenture Financial Services, suggests FinTech startups’ VC funding hit a new high last year, with major deals in the U.S., the U.K. and India leading the charge.
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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
MARCH 7, 2018
Open source continues to transform how we architect software solutions in every industry. Black Duck’s 2017 Open Source Security and Risk Analysis of over 1000 commercial applications revealed that 96% of applications scanned utilised open source. While the rate of open source reuse has been.
PYMNTS
MARCH 7, 2018
The Federal Trade Commission (FTC) has announced that new Medicare cards will be mailed out starting next month. The new cards are being issued to protect consumers from identity theft. With that in mind, Medicare is removing Social Security numbers from its cards and replacing them with a unique Medicare number. The cards will be mailed in waves to various parts of the country from April 2018 until April 2019.
Payments Source
MARCH 7, 2018
Total System Services is implementing software at Walmart and Sam's Club locations nationwide to link loyalty rewards to health care payments, while also recognizing qualified purchases from a consumer's health plan.
PYMNTS
MARCH 7, 2018
Poetry in motion? Maybe not. Value-added data in motion? Definitely so. Ours is the Age of Information, to be sure. The information is constant — and for businesses of all stripes and sizes, it’s a deluge. How to wrap corporate arms around it all? DataTorrent ’s Jeff Bettencourt, SVP of marketing and business development, said traditional attitudes surrounding information are such that firms collect data, store it in a central location and then “extensively poke at that data to get the informati
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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
MARCH 7, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Citi and Kabbage join PSD2 forum; Central Bank of Lithuania holds contest for collectable virtual currency; China deepens crackdown on crypto; Armored car company sheds paper.
PYMNTS
MARCH 7, 2018
As Amazon competes with Walmart for low-income shoppers, the eCommerce retailer is rolling out discounted pricing of its Prime program to more people receiving government benefits. The company will now offer its Prime membership for $5.99 a month — down from $12.99 a month or $99 a year — to those on Medicaid for up to four years, The Wall Street Journal reported.
Payments Source
MARCH 7, 2018
American banks and retailers are sparring over whether financial firms should follow a new national standard to quickly notify consumers when they’ve experienced a data breach.
PYMNTS
MARCH 7, 2018
On the heels of, perhaps, a foreshadowing of more regulatory oversight, bitcoin’s price staggered again on Wednesday (March 7). Reuters reported news that the price of the marquee name in cryptocurrencies dipped as low as $9,450 in intraday trading when the Securities and Exchange Commission (SEC) announced there were “potentially unlawful” systems operating that allow the trading of cryptocurrencies.
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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
MARCH 7, 2018
As both the volume and value of digital currencies increase, so will inevitable attempts to commit fraud and theft. In this nascent stage, what is protecting cryptocurrency buyers and sellers?
PYMNTS
MARCH 7, 2018
Following a beta test in Minnesota, Target is expanding its Drive Up curbside pickup service. By the end of 2018, the retailer plans to introduce the service to nearly 1,000 of its brick-and-mortar stores, TechCrunch reported. Through the service, customers order products through Target’s app and drive to the store. When they arrive, employees deliver the goods to customers’ cars.
Payments Source
MARCH 7, 2018
Sentbe, a South Korean international money-transfer company, is expanding its payout options and market reach in a partnership with the mobile cross-border payments network TransferTo.
PYMNTS
MARCH 7, 2018
As social media companies focus on preventing harmful content from spreading across their platforms, Twitter seeks to stop cryptocurrency scams from circulating as well. But it’s not clear exactly which measures the company is taking to address the issue, Bloomberg reported. Twitter is aware of crypto “manipulation,” and the company said it’s taking steps to “prevent these types of accounts from engaging with others in a deceptive manner,” a spokesperson told Bloomberg.
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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
MARCH 7, 2018
Ripple, the U.S. digital payments company, is working with 61 Japanese banks on an application that will enable customers to settle cash transfers instantly around the clock, the latest effort to apply blockchain technology in finance.
PYMNTS
MARCH 7, 2018
Mastercard announced news on Tuesday (March 6) that it has completed its purchase of Oltio , the mobile payments technology company from Standard Bank Group. In a press release , Mastercard said it has had a longstanding relationship with Oltio; the purchase of the startup will build upon that relationship. Oltio has patents for several mobile payments and banking solutions, including an authentication technology that lets consumers authenticate Masterpass digital wallet purchases in South Afri
Payments Source
MARCH 7, 2018
House legislation to reverse a federal court decision on state interest rate caps would increase access to credit, not expand predatory lending as critics have argued.
PYMNTS
MARCH 7, 2018
Samsung , the South Korean consumer electronics company, has reportedly acquired Kngine , the artificial intelligence (AI) search engine startup. According to news from BGR , citing The Investor, Samsung acquired 100 percent of the company for an undisclosed sum. “Our research arm Samsung Research America acquired the entire stake in October last year,” a Samsung official told The Investor, according to BGR.
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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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