Chris Skinner
MAY 29, 2019
So my snarky little friend Ron Shevlin wrote a piece on Forbes claiming that Americans don’t want a digital bank. As the guy who wrote the book Digital Bank you might think I would take offence to such a statement, but no. I agree with his content, just not his … The post Customers don’t want digital banking appeared first on Chris Skinner's blog.
Bank Innovation
MAY 29, 2019
SAFE Credit Union, through a partnership with NCR Digital Banking, is using geofencing technology as a trigger for push alerts to its customers. The credit union uses the tool to get feedback from customers as they leave the branch and to inform customers of potential rewards when they attend certain events or perform certain tasks. […].
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Chris Skinner
MAY 29, 2019
Things we’re reading today include … Scam victims to be refunded by banks NatWest most complained about bank for fraud claims Emirates NBD builds AI-enabled bank with AWS The digital banking revolution is here. So why are so few people putting their salaries into app-only bank accounts? European Central Bank: … The post Things worth reading: 30th May 2019 appeared first on Chris Skinner's blog.
South State Correspondent
MAY 29, 2019
CREDIT MANAGEMENT No doubt, you hear all about how your competitors are winning deals because they are more aggressive when it comes to underwriting. While banks must always ask if they are taking the right risks and the right amount of risk, it is probably the competitors that you are not watching that is causing you the greatest risk. In this short article, we explore one often overlooked aspect of competitor surveillance and how this one technique can help protect your bank.
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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
MAY 29, 2019
One year after the launch of Bank of America's AI-powered digital assistant Erica, customers are starting to get comfortable turning to it for reports on their spending activity and for day-to-day tasks like paying bills and peer-to-peer payments. In fact, the bank said Erica's user base surpassed 7 million users this week. With Erica, Bank […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
MAY 29, 2019
Fintech startup Plaid Inc. is expanding its footprint into the U.K., a region it believes could eventually match the U.S. in terms of revenue, despite political uncertainty. Founded in 2012, San Francisco-based Plaid helps customers and banks transmit data back and forth. The service has caught the attention of major investors, including Andreessen Horowitz and […].
Payments Dive
MAY 29, 2019
What are the factors contributing to the rise of CNP Fraud? What are some of the real-time use cases for fraud prevention? How are authentication technologies evolving? How does FSS Secure 3D benefit issuers. And what’s new?
PYMNTS
MAY 29, 2019
A European Central Bank ( ECB ) official is throwing his support towards wholesale central bank digital currencies (CBDCs). In fact, Vitas Vasiliauskas, a member of the Governing Council of the ECB and chairman of the board of the Bank of Lithuania, said the real issue at play is whether CBDCs should be retail, wholesale, or a combination of both. While a retail CBDC would be available for the general public, wholesale would serve a limited circle, primarily banks.
Abrigo
MAY 29, 2019
For some people, going on vacation is a necessary break. For BSA professionals, it can be nothing but major stress. The compliance department is already one of the most understaffed areas of the institution and when staff turnover occurs or an employee goes on vacation or family leave, it can be cause for panic. What about seasonality with your alerts?
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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
MAY 29, 2019
Western Union has expanded its services into Thailand and launched a brand new international money transfer service in the region, the company said in a release. “Customers in Thailand can now connect with their families and loved ones around the world, (24 hours a day, 7 days a week), via the Western Union mobile app or transactional Westernunion.com/th.
South State Correspondent
MAY 29, 2019
THE DATA ON NIM Data visualization is the presentation of data in a pictorial or graphical format. It enables decision-makers to see analytics more easily, grasp difficult concepts, identify new patterns, and explain outliers.
PYMNTS
MAY 29, 2019
The Treasury Department announced Wednesday (May 29) in a report to Congress that of the 21 major U.S. trading partners, only nine need further scrutiny because of their currency practices. Reuters, citing the semi-annual report, reported that the Treasury Department added Ireland, Italy, Malaysia, Singapore and Vietnam to a watch list that already includes China, Germany, Japan and South Korea.
Bobsguide
MAY 29, 2019
Payments markets are changing drastically, forced by the hand of national and regional regulators as well as a technological advances driving at an incredible pace. Banks and other financial institutions are sitting up to take note. Here, bobsguide speaks with Mohammed Kateeb, group chairman and.
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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
MAY 29, 2019
It’s not often that one gets to see a new form of retail emerge, but that’s what’s happening with, of all things, legal recreational cannabis. So far, this retail is taking a form that is big, feminine and even a bit luxurious. The big comes from the apparent rise of the so-called cannabis “superstore,” the hotbed of which is reportedly — and understandably — Las Vegas, one of the world’s main adult playgrounds.
Payments Source
MAY 29, 2019
Banks and governments around the world have invested in systems that seek to instantly transfer money between accounts, moves that could put pressure on the sprawling debit-card business at the world’s largest payments network. But Visa Inc. Chief Executive Officer Al Kelly isn’t too worried.
PYMNTS
MAY 29, 2019
More than half of all Americans now subscribe to digital news or entertainment streaming services, and such offerings are already beginning to crop up in new industries, like cars and financial services. Companies are developing new subscription boxes, tiers and perks to retain customers’ loyalty in the face of rising competition, too. Retailers, like Walmart , are using related retail packages to compete with rivals such as Amazon , while digital services like Spotify and Apple Music continue t
Payments Source
MAY 29, 2019
Top executives from banks, card brands, credit unions, fintechs and more weighed in on the major issues and innovations for the payments industry.
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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
MAY 29, 2019
Apple Pay is coming to New York City thanks to a partnership with the Metropolitan Transportation Authority or MTA. The Verge , citing Apple Pay, reported that on May 31st, people can use Apple Pay for public transportation in the sprawling metropolis. According to TheVerge, the rollout of Apple Pay is part of the MTA’s One Metro New York initiative in which it’s testing new payment methods for fares.
Insights on Business
MAY 29, 2019
People make mistakes in all aspects of life; it’s not exactly headline news when it happens. If you have ever hit “reply all” by mistake, forgot to set an alarm for an early morning flight, or as I did last week, misjudge your sporting prowess and end up with a bang to the head, you will know in an instant and with complete certainty that you have made an error.
PYMNTS
MAY 29, 2019
With better-than-expected revenues and earnings, DICK’S Sporting Goods ’ eCommerce sales jumped 15 percent in the first quarter. The company’s overall reported quarterly earnings beat estimates of analysts as the company increased its outlook for the full year, CNBC reported. The retailer reported net income of $57.5 million or 61 cents for each share.
Payments Source
MAY 29, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Singapore pushes digital ID; Walmart hires an innovation chief; A French youth payment app raises funds; Coinbase expands PayPal support to Canada.
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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
MAY 29, 2019
A group of investors has acquired Sureswipe , a South African payments company, for an undisclosed amount. The investors were led by Apis Partners LLP and FinTech investor Crossfin Technology Holdings. Sureswipe will be consolidated under the newly-formed Crossfin Transactional Services (CTS), along with Innervation Pan African Payments and Emerge Mobile’s iKhokha.
Bobsguide
MAY 29, 2019
Technology products will predominately suffer if the trade war between the US and China starts to impact global supply and production chains, Olli Rehn, European Central Bank (ECB) governing council member and governor of the Bank of Finland told a conference in London this week. “The main.
PYMNTS
MAY 29, 2019
Robinhood Markets , the operator of a free mobile trading app, is close to garnering a valuation of $7 billion or more. CNBC , citing two people familiar with the deal, reported Robinhood has raised a minimum of $200 million in a recent late-stage fundraising round that will give it a valuation of between $7 billion and $8 billion. The round, which includes mainly existing investors, hasn’t closed yet — which means it could raise more than $200 million.
Payments Source
MAY 29, 2019
While advanced push payment fraud has dominated the headlines in recent years, another type of scam has been costing U.K. businesses millions — even though many companies are completely unaware of it.
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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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