Payments Dive
JULY 26, 2019
Fiserv is on track to close its massive $22 billion acquisition of First Data as it reported solid earnings during the second quarter. The company sees solid gains in its P2P business and expects contactless to gain acceptance with banking customers.
Bank Innovation
JULY 26, 2019
Dave Girouard, CEO and founder of Upstart, testified before Congress’ Task Force on Financial Technology for its hearing on the use of alternative data in loan underwriting and credit scoring. Girouard spent eight years as the president of Google Enterprise, where he presided over Gmail and Google Docs. In 2012, he founded Upstart, a company […].
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PYMNTS
JULY 26, 2019
Despite some hiccups along the way with Goldman Sachs, the Apple credit card is on track for an August release, according to a report by Bloomberg. The collaboration between the two companies was sometimes tense and the stakes were high if it wasn’t successful. The Apple Card could be launched as early as the second half of August, which would meet its originally scheduled date for release when the card was announced in March.
Bank Innovation
JULY 26, 2019
OceanFirst Bank is seeing more consumers and businesses choosing to interact with the bank via video and, as a result, it is preparing for a future when bankers will be comfortable working in that channel. The Toms River, N.J.-based community bank recently trained all 538 of its customer-facing employees in digital banking with a seven-week […].
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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
PYMNTS
JULY 26, 2019
A Japanese FinTech company is applying for a banking charter in the United States, according to a report by American Banker. The eCommerce firm Rakuten currently runs a shopper rewards program in the States, and said would file the necessary paperwork on Friday (July 26) with Federal Deposit Insurance Corp. (FDIC) and the state of Utah for an industrial loan company (ILC) charter.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 26, 2019
Following a year-long pilot, WhatsApp is now officially introducing a payments utility in India. The Facebook-owned messaging app is responding to the increased demand for digital payments in its largest market, Reuters reported on Friday (July 26). “It’s a regulatory approval question in India at this point,” Facebook Chief Executive Mark Zuckerberg said on Thursday (July 25) during the company’s earnings conference. .
Bank Innovation
JULY 26, 2019
Welcome to the latest episode of our weekly wrap video series, for the week ending July 26, 2019. In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news developments: How Presidential candidate Elizabeth Warren and other lawmakers are advocating for the U.S. government to play a bigger role in payments, particularly […].
PYMNTS
JULY 26, 2019
U.S. lawmakers submitted a bill to Congress Wednesday (July 24) in an effort to reauthorize the nation’s Export-Import Bank for the next decade. Politico said Thursday (July 25) that a bipartisan bill is proposing a reauthorization of the trade finance provider before its charter expires at the end of September. The legislation, proposed by Kevin Cramer (ND) and Kyrsten Sinema (AZ), was submitted to the Senate following the decision by House Financial Services Chairwoman Maxine Waters (CA) to sh
Payments Source
JULY 26, 2019
As the e-commerce channel expands its share of total retail sales worldwide, it’s often thought that credit and debit cards are the primary beneficiaries. However, cash still remains a viable payment option for e-commerce transactions — with the help of a third party to handle the payment.
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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
JULY 26, 2019
The modern-day financial services landscape has a need for speed, and one of the slowest areas of the market can be seen in cross-border payments. Remittance and peer-to-peer payment technologies have accelerated transaction speeds for consumers tired of waiting days for money to move across borders. Increasingly, the financial services industry is targeting sluggishness in corporates’ cross-border payments, too, through technologies like blockchain and the development of faster payment rails ar
Payments Source
JULY 26, 2019
Early Warning's Zelle P2P network processed $44 billion in payment volume over 171 million transactions during the second quarter of 2019, a growth of 56% in volume and 71% in transactions year-over-year.
PYMNTS
JULY 26, 2019
While alcohol and tobacco sales were already prohibited on Marketplace, Facebook is now extending the policy: Sales of those products will not be allowed any longer between users on Facebook or Instagram, CNBC reported. A spokesperson for Facebook said in an emailed statement, per the report, “We are updating our regulated goods policy to prohibit the sale of alcohol and tobacco products between private individuals on Facebook and Instagram.
Payments Source
JULY 26, 2019
Most agencies use electronic benefit transfer to deliver funds to prepaid cards, but recipients who need access to cash are often caught in a bind, with fewer convenient or free ATMs available in an increasingly digital payments landscape.
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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
JULY 26, 2019
Uber is talking to European supermarkets about partnering up for a potential grocery delivery service to compete with rivals like Deliveroo and Amazon, according to a report by Bloomberg. . The company was in talks with the second largest grocery chain in the U.K., Sainsbury’s, which announced a recent partnership with Deliveroo this month to deliver hot pizza to homes in four U.K. cities. .
Payments Source
JULY 26, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Salesforce and Alibaba team up; VC funds for Standard Cognition; WeChat adds airborne payments; Cannabis bank gets off the ground; Elavon hires a top exec for Europe.
PYMNTS
JULY 26, 2019
The Internal Revenue Service (IRS) is going to send letters to about 10,000 cryptocurrency holders warning them about the penalties they will face if they don’t report their income or pay taxes on the transactions, according to a report by The Wall Street Journal. There are three versions of the letters, which are expected to be mailed out by the end of next month.
Payments Source
JULY 26, 2019
A stronger U.S. economy paved the way for Toast and other companies like it, such as Bolt and Due, to find their own niche against PayPal, Stripe and Square when it came to serving small restaurants or coffee shops with point-of-sale hardware and software.
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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
JULY 26, 2019
Cigarette company Imperial Brands has invested in Canadian cannabis company Auxly Cannabis Group to the tune of £75m ($93.2M USD), according to a report by the Financial Times. The deal, which was announced on Thursday (July 25), will let Imperial convert the investment into a 20 percent stake in Auxly over a period of three years. The cigarette giant will also get positions on Auxly’s board, and Auxly will get access to its vaping arm, Nerudia.
BankBazaar
JULY 26, 2019
Starting this year, there is a slight tweak in the process of claiming your tax refund. Let’s find out more. From changes in ITR forms to making e-filing of IT returns mandatory, starting this year, the Income Tax department has introduced a slew of measures that will facilitate easy and hassle-free filing of IT returns for the average man. The IT department has also made a slight tweak in the process of claiming tax refunds.
PYMNTS
JULY 26, 2019
Automated solutions could help smooth onboarding frictions, yet many AP departments still rely on old-school techniques and are perfectly satisfied with them. The latest Payables Friction Playbook analyzes the ways businesses onboard new suppliers to see where digital methods excel (and potentially fall short). AP departments are still very much analog operations; 80.8 percent of AP departments still pay suppliers using paper checks , while 45.2 percent rely on cash.
Payments Source
JULY 26, 2019
Forgeries. Imposters. Counterfeit documents. You can’t afford to let fake identities slip through the cracks and put your company—and your customers—at risk. Learn how to detect the 7 most common types of ID fraud, and how advanced identity verification technology can turn things around.
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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
JULY 26, 2019
Alphabet , Google’s parent company, easily topped the Street as core advertising business rebounded from previously sluggish growth rates amid a continued shift to mobile search. YouTube and cloud offerings helped push results. In terms of consolidated top line, revenues of $38.9 billion were up more than 19 percent year on year and were $730 million above consensus, and adjusted EPS of $14.21 were $2.75 better than the Street.
Payments Source
JULY 26, 2019
In an all-digital world, ID theft is everywhere and is holding companies back. Companies in every industry are seeing a very real and significant impact on their goals. ID fraud isn’t just a nuisance; it’s a true threat to the business. Read the ebook to learn more.
PYMNTS
JULY 26, 2019
Delivery has been successful for Starbucks in China, and it made up 6 percent of the company’s sales in the country last quarter, according to a report by CNBC. The company is pointing to the model as an example of how fruitful delivery can eventually be in America. Shares in the company surged 6 percent on Friday (July 26), and reached $97.22 a share.
Payments Source
JULY 26, 2019
By offering Prime subscribers one-day shipping instead of the standard two, Amazon saw a dramatic change in shopping behavior — and a corresponding rise in costs.
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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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