Bank Innovation
NOVEMBER 21, 2017
Consumers still aren’t comfortable receiving notifications like late payment reminders through social media channels, a study released today by FICO found. While more and more consumers are growing used to conducting their daily financial needs via digital channels, things like mobile or chat apps or social media remain an “inappropriate place” to send notifications for […].
Payments Dive
NOVEMBER 21, 2017
While this period brings great opportunity for retailers, it also creates considerable challenges. Retailers must respond to evolving behaviors and manage huge increases in footfall, but still deliver the exceptional in-store experience consumers demand.
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Chris Skinner
NOVEMBER 21, 2017
I spent a day facilitating a series of roundtable discussions focused upon distributed ledger technologies (DLT). I realised that there’s a lot of confusion around the subject. Hell, even I’m confused most of the time even after dedicating hours to the subject. When is a distributed ledger needed? What’s the … The post Why distributed ledgers aren’t working (yet) appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 21, 2017
Cryptocurrency startup Tether has flagged some of its tokens after announcing that hackers have snatched $31 million-worth of tokens from its “treasury wallet,” the company said today. The funds were taken this past Sunday on November 19th, according to the company. Tether, which converts fiat currency to tokens for cryptocurrency exchanges, posted a critical announcement […].
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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
Chris Skinner
NOVEMBER 21, 2017
I still talk a lot about blockchain, distributed ledgers, cryptocurrencies and more, but often feel it’s falling on deaf ears. The price of bitcoin flies around in the $7,000 a coin bracket, having risen from a tenth of that amount a year ago; and many people talk about blockchain and … The post The long and winding road … to the blockchain 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.
Payments Dive
NOVEMBER 21, 2017
Finxact's Dan McKinney believes financial institutions are finally starting to make it easier for consumers to interact with them on a smartphone.
Bank Innovation
NOVEMBER 21, 2017
Dutch asset management firm Robeco just launched a fintech investment firm. Robeco’s Global Fintech Equities, which was launched yesterday, will focus on three segments: “today’s winners,” “fintech enablers,” and “challengers.” “Today’s winners” consists of established companies that already have a competitive advantage in the market. “Fintech enablers” are companies focused on the digitization trend, while […].
Chris Skinner
NOVEMBER 21, 2017
Things we’re reading today include … EU’s Barnier Says Brexit Means Banks Lose EU Passporting Too-big-to-fail banks keep getting bigger Brexit: Banks to start shifting jobs from London NatWest admits online banking glitch as some customers struggle to log in HSBC slapped with record Hong Kong fine over sale of … The post Things worth reading: 22nd November 2017 appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 21, 2017
The Federal Reserve Bank of Cleveland has taken a report on P2P lending offline due to questions regarding the report’s underlying data. Released earlier this month, the report — which is now under revision, according to the Cleveland Fed — concluded that the P2P lending industry is similar to that of “predatory loans,” and that […].
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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
PYMNTS
NOVEMBER 21, 2017
With Europe only weeks away from PSD2 taking effect, Fiorano Software is debuting its solution for financial institutions (FIs) in the region to comply with the directive. The company revealed its new solution on Monday (Nov. 20), Fiorano PSD2, a platform for FIs across the EU to ensure compliance with PSD2, built on the company’s existing API Management capabilities and banking integration management tools.
Bobsguide
NOVEMBER 21, 2017
Chris Gledhill, CEO of Secco Aura and frequently referenced as one of the top 10 fintech influencers, speaks to bobsguide about going beyond 'incremental innovation' towards genuine, irreversible disruption. How did you get into banking? I started off on the tech side with a.
PYMNTS
NOVEMBER 21, 2017
Confido, the startup that raised $374,477 in an initial coin offering (ICO), has reportedly disappeared with the investors’ money. According to a news report in The Next Web , Confido, which said it was developing a trustless payment network for online shopping, has taken down its website and its value declined 90 percent after letting investors know that a legal issue will stop development of its project for good.
Let's Talk Payments
NOVEMBER 21, 2017
The year 2017 was the most pivotal year for wealth management – technology startups shot themselves in the foot, empowering the next wave of transformation in one of the most.
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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.
PYMNTS
NOVEMBER 21, 2017
U.K. financial institutions (FIs) have been advised to comply with the EU’s Revised Payment Service Directive (PSD2) regulations despite Brexit, but the U.K. has its own Open Banking initiatives coming into force in 2018, too. They’re a result of the Competition and Markets Authority (CMA) inquiry, which found a serious lack of innovation in the nation’s banking sector — especially when it comes to small- and medium-sized business (SMB) services.
Bobsguide
NOVEMBER 21, 2017
Derek Corcoran – Chief Experience Officer, Avoka. For years now, the largest banks in the UK and around the world have been moving – some slowly, some rapidly – to make their account opening processes accessible on digital channels. The consumer preference to initiate.
PYMNTS
NOVEMBER 21, 2017
eBay is giving its marketplace shoppers the gift of artificial intelligence (AI) this holiday season in the hopes of better connecting consumers to the things they really want. “If we know you like superheroes, there’s a world of things on eBay you don’t even realize we have,” said Bradford Shellhammer, eBay’s head of personalization and engagement, in a CNBC report published Monday (Nov. 20). eBay, though perhaps best known for its auctions, operates one of the world’s l
Bobsguide
NOVEMBER 21, 2017
Many processes have already been automated, thanks to technology, and now Robo-Advisors are gaining ground at the expense of their human counterparts. Will flesh-and-blood financial advisers become a thing of the past? The Robo-Advice industry is taking off in the U.S. and UK due to their low fees.
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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.
PYMNTS
NOVEMBER 21, 2017
Cross-border B2B payments company TransferMate announced news on Monday (Nov. 20) that it secured equity investment from Allied Irish Banks. In an announcement emailed to PYMNTS, TransferMate said it received more than $35 million, with the investment seeing Allied Irish Banks (AIB) taking a minority stake in the company as a result. TransferMate also said that AIB will join the company in a strategic partnership to link Irish businesses with international B2B payments services provided by Trans
Payments Source
NOVEMBER 21, 2017
While many companies already have a compliance officer in place, the EU's General Data Protection Regulation requires a Data Protection Officer (DPO), writes Sudeep Nadkarni, senior vice president and head of banking and financial services for NIIT Technologies.
PYMNTS
NOVEMBER 21, 2017
Daring to be different can pay dividends. And yet, even at Thanksgiving — once the start of the holiday shopping season — some consumers can already feel a little shopped out. Black Friday, though still a retail event for the most committed, has blurred into something akin to “Grey November,” as retailers spend the better part of the last 21 days racing to be first over the Black Friday line by starting their sales and promotions earlier.
Bobsguide
NOVEMBER 21, 2017
Volker Abel - Senior Manager, zeb Frankfurt, Martin Hluze - Manager, Office Vienna, Benjamin Banner - Senior Consultant, Office Munich, Fiammetta Rubinacci - Senior Consultant, Office Zurich. The regulatory treadmill of the banking industry.
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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.
PYMNTS
NOVEMBER 21, 2017
Samsung Electronics, the South Korean consumer electronics giant, and BBVA, the Spanish bank, announced Monday (Nov. 20) a new iris scanning feature that will enable BBVA customers with Samsung-compatible smartphones to log on to the bank’s mobile app simply by looking at their smartphone’s display. According to a press release , BBVA is the first Spanish bank to deploy Samsung’s biometric authentication technology.
Bobsguide
NOVEMBER 21, 2017
With 3 January 2018 fast approaching, the shots have been fired by the FCA! Last month, Merrill Lynch was fined £34.5m for failing to report transactions. The bank failed to report 68.5 million exchange traded derivative transactions from February 2014 onwards, in contravention with the.
PYMNTS
NOVEMBER 21, 2017
Brad Smith, CEO of enterprise software firm Intuit , is warning accountants that they must embrace artificial intelligence (AI) in their professions or risk falling behind. According to news from Yahoo Finance , Smith spoke at the QuickBooks Connect conference to discuss the potential for AI to disrupt the accounting field. Traditional accountants are going to struggle if they don’t adopt AI, he warned.
Payments Source
NOVEMBER 21, 2017
Until FinCEN decides to explicitly regulate transaction laundering, we will not see an organized effort at the state level, writes Ron Teicher, CEO of EverCompliant.
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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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