Payments Dive
DECEMBER 10, 2019
A bitcoin aficionado who goes by the name "21isenough" has created a prototype for a Lightning ATM. The contraption allows you to send tiny amounts of bitcoin over the Internet via the Lightning Network, a second-layer protocol that works on top of bitcoin.
Bank Innovation
DECEMBER 10, 2019
Centana Growth Partners, a New York and Palo Alto, Calif.-based growth equity firm, closed its second fintech valued at $375 million this week. The firm, which closed a $250 million fund in 2015, primarily invests in business-to-business technology companies. Its portfolio includes nine firms, including digital identity companies Jumio and SheerID, workplace benefits platform Ease […].
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Abrigo
DECEMBER 10, 2019
Key Takeaways Elder financial abuse/exploitation (EFE) is under-reported although it remains on the rise. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. . The under-reported and growing crime. Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States.
Bank Innovation
DECEMBER 10, 2019
In a world reliant on smartphone apps, bank branches may no longer be Main Street mainstays, with red velvet ropes between brass stanchions herding customers to tellers behind wickets. But they’re still an important part of banking and, in Canada, the two largest lenders are beating their smaller rivals at drawing more and more revenue from physical […].
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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
DECEMBER 10, 2019
Someone turned to me the other day, mid-discussion around Facebook and their abuse of customer data, and asked: How did we get here? My answer: Because we let it happen. In the last twenty years, America has allowed big tech firms in Silicon Valley to become monolith giant monopolies of … The post Show me the money! 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.
Chris Skinner
DECEMBER 10, 2019
Things we’re reading today include … Deutsche Bank says crypto could replace cash by 2030 Would ‘getting Brexit done’ bring lots of new investment? Lloyds to reopen compensation claims for Reading fraud Victims of HBOS fraud in line for bigger payout Santander UK chief’s pension slashed by £436,000 over two … The post Things worth reading: 11th December 2019 appeared first on Chris Skinner's blog.
Accenture
DECEMBER 10, 2019
My latest trip to Phoenix gave me a preview of what’s to come in auto financing, the for-hire vehicle industry and autonomous fleet management. And, that was just on my ride back to the airport. With my travel schedule, hailing a ride to the airport using a ride sharing app is all in a day’s…. The post Will your next ride share be in an electric, self-driving car?
PYMNTS
DECEMBER 10, 2019
Nike has been awarded a patent by the U.S. Patent Office for the sneaker company’s new blockchain-compatible sneakers, which are called “CryptoKicks,” according to reports. The CryptoKicks will be attached to a system that will use blockchain to attach digital assets to the actual shoes. Nike’s plan is to be able to track the ownership and legitimacy of the item using the blockchain system.
Accenture
DECEMBER 10, 2019
Each quarter, Ryan Douglas from the Card Issuing group reports on recent developments for the US consumer credit card sector and compiles key metrics reported by the largest US banks (spend, receivables, loss rates and returns). Key themes Receivables growth of four percent YoY, slightly below the five percent YoY growth posted last quarter Purchase….
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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
DECEMBER 10, 2019
Doconomy and Mastercard are partnering to combat climate change by giving any Mastercard issuer the ability to enable their cardholders to monitor the carbon footprint of their purchases, as announced in a press release on Tuesday (Dec. 10). “Today, the first bank in the U.S. and Nordea in the Nordics announced they will join The Bank of Åland in enabling clients to track and measure their CO2 impact through the Åland Index,” noted the release. “Addressing climate change is bigger than any
Accenture
DECEMBER 10, 2019
How merchants enable and streamline payment acceptance is now at the forefront of the shopping experience. Acquiring—once a stable and steady background business helping retailers accept and process debit and credit cards at point-of-service and remotely (such as via telephone and mail)—is now a key differentiator for businesses. The more shopping behaviors change—from in-store to….
PYMNTS
DECEMBER 10, 2019
A new report from Barclays Capital about transportation in New York City says Uber and Lyft can achieve profitability in the future despite their poor initial public offering (IPO) showings this year, according to a report by Bloomberg. . Barclays analysts Jeffrey Meli, Adam Kelleher, Ryan Preclaw and Ross Sandler all said the ride-hailing apps are in a good position to eventually be profitable.
BankBazaar
DECEMBER 10, 2019
Want to take a nice winter vacation but unable to find accommodation at most tourist spots? Here are some underrated places you can consider! Nothing beats ending a year with a nice cozy winter vacation, right? The typical impulse is to drive off to a hill station and enjoy misty mornings that clear up for a beautiful view. However, one of the banes of planning a winter vacation is that most popular hill stations or holiday spots are booked way in advance.
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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
DECEMBER 10, 2019
Travel is never boring — if it is, you are doing it wrong — and that holds especially true when it comes to how travel connects to payments and the broader world of commerce. And what a time it’s been, including for cross-border payments and the travel industry — the main subject of a fresh PYMNTS interview with Peter Butterfield, chief compliance officer at Flywire , which provides global payment services.
Bobsguide
DECEMBER 10, 2019
Ripple may review its policy around publishing transaction data but not until it experiences more growth according to Marcus Treacher, senior vice president of customer success of the blockchain-based payments software firm. “We’re a very young network, it’s growing very.
PYMNTS
DECEMBER 10, 2019
American Express (Amex) said there is finally some relief from the rewards war that has been raging for the past three years, Bloomberg reported on Tuesday (Dec. 10). The battle lines were drawn when JPMorgan Chase launched the Chase Sapphire Reserve card, Amex CEO Steve Squeri said at a Manhattan Goldman Sachs conference. That move triggered the industry — including Amex — to start spending on points and perks to attract premium card customers.
Payments Source
DECEMBER 10, 2019
Traditional rules-based platforms are insufficient to protect real time payments. Using historical patterns can predict some fraud but will not prevent new evolving patterns as they emerge for the first time, says Deep Labs' Michael Lynch.
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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
DECEMBER 10, 2019
Bridge millennials’ rise is changing the retail ecosystem ahead of the 2019 holiday season, but their impacts will continue to be felt in the year ahead. Bridge millennials are consumers aged 30 to 40 whose shopping and financial preferences straddle Gen X and millennial demographics. Their average income levels resemble those of Gen X consumers — whose members have had time to establish careers and build up funds — but they more closely mirror their younger counterparts in how, where and why th
Payments Source
DECEMBER 10, 2019
PSD2 tech extends to accounting; retail-sharing startup plans first stores; and other information you need to start your day, from PaymentsSource and around the web.
PYMNTS
DECEMBER 10, 2019
Policymakers at the European Central Bank (ECB) will meet in Frankfurt on Wednesday (Dec. 11) to talk about the pros and cons of introducing their own electronic money, Bloomberg reported on Tuesday (Dec. 10), citing Eurozone sources. Members of the Governing Council anticipate informal discussions about digital currency, which will take place ahead of a Thursday (Dec. 12) policy conference with Christine Lagarde, the ECB’s new president.
Payments Source
DECEMBER 10, 2019
B2B global payments provider Payoneer is acquiring German fintech Optile to expand its services to include consumer-to-business payments acceptance.
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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
DECEMBER 10, 2019
It’s not just cars and trucks that are undergoing historic changes thanks to digital and mobile technology, and the drive toward the connected vehicle and autonomous driving ecosystems. The whole automotive culture — and that includes payments — is transforming. Proof of that comes from the U.K. There, according to TechCrunch , a company called By Miles is launching what it calls a connected vehicle policy for owners of Tesla automobiles.
Payments Source
DECEMBER 10, 2019
JPMorgan Chase & Co.’s blockchain-based information network for payments is drawing the greatest interest in Japan, a country long blamed for weak measures against money laundering.
PYMNTS
DECEMBER 10, 2019
U.S. customers can now make a donation to the Western Union Foundation when transferring money using the Western Union app, the company said in a press release on Tuesday (Dec. 10). The Western Union Foundation chose the American Red Cross’ Restoring Family Links initiative as the beneficiary of customer donations in honor of International Migrants Day on Dec. 18.
ATM Marketplace
DECEMBER 10, 2019
As cashierless shopping becomes more popular, a stark disparity is coming to light — the underbanked are getting left behind. In this blog post, Plain Green's Guy Dilger talks about the move away from cash and how some cities are fighting back.
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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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