Chris Skinner
JUNE 12, 2019
I just went through a conversation about my presentation for a forthcoming conference. They didn’t want to provide a prescriptive approach, and just asked what I talked about in general. That’s a challenge, as I once turned up at a conference and they said to me “you have seven hours”. … The post The logic of digital change appeared first on Chris Skinner's blog.
South State Correspondent
JUNE 12, 2019
IMPROVING BANK PRODUCT SALES A surge in alternative lenders and intense competition among banks has forced community bank lenders to further differentiate themselves and their institution. Many lenders are switching their professional focus from being a salesperson to being a trusted advisor. Recent teaching from St.
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Bank Innovation
JUNE 12, 2019
Robo-adviser Betterment is growing its enterprise business with a new product for health insurers and their customers. The New York-based company is partnering with United Healthcare and Optum Bank to launch a "simple, smart, automated" health savings account (HSA) for United Healthcare customers, CEO Jon Stein announced at CB Insights' Future of Fintech conference in […].
PYMNTS
JUNE 12, 2019
The myth of the lone (and possibly mad) scientist died out a long time ago, as the industrial age led to teams of researchers working together (or at healthy cross purposes) to enable innovation. Science and invention are collective pursuits. Imagination and epiphany still have their roles, but it’s less about “eureka moments” than the steady, data-focused march of daily progress.
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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
JUNE 12, 2019
Lending platforms are evolving to the needs of younger customers’ financial habits, a pair of fintech executives told an audience at CB Insights’ Future of Fintech conference in New York Wednesday. Max Levchin, CEO of point-of-sale lender Affirm, said roughly 67% of his company’s customer base is Generation X and younger. People of younger generations […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JUNE 12, 2019
Alexa von Tobel is bullish on the future of consumer-facing fintech. The founder of Learnvest and former chief innovation officer at Northwestern Mutual is now focusing on investments addressing the day-to-day money challenges of everyday people through her venture firm Inspired Capital, which was established earlier this year. Speaking to an audience at CB Insights’ […].
South State Correspondent
JUNE 12, 2019
Earlier this week we ran an article on the Price of Attention for Bank Marketing ( HERE ) and we were inundated with questions about how to pull some of these techniques off. Many bankers wanted to know where to begin with the most common question being - how to apply the “campaign portfolio technique” to something as crucial as loans or deposits?
Bank Innovation
JUNE 12, 2019
Sunbit, a point-of-sale lender that focuses on critical emergency services like auto repairs and dental work, has raised $26 million in Series B funding, the company confirmed today. Sunbit will use the funding to add new retailers, with an emphasis on adding more medical offices. CEO Arad Levertov told Bank Innovation that Sunbit is adding […].
PYMNTS
JUNE 12, 2019
Bento for Business, a B2B payments company, has introduced a new product called Bento Pay, a digital payments solution that “eliminates the need to write checks and gives businesses the ease and security of paying any supplier confidentially, regardless of their digital payment preferences,” according to a release by the company. Speaking at the CB Insights Future of FinTech conference, Bento for Business Co-founder and CEO Farhan Ahmad said the company’s direct-to-payee solution can handle frag
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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
Bank Innovation
JUNE 12, 2019
Bento for Business, a Chicago-based B2B payments firm, today unveiled Bento Pay, which it claims is a first-of-its-kind digital payment service for small and mid-sized businesses. The service will roll out to customers in early July. Co-founder and CEO Farhan Ahmad told Bank Innovation that Bento Pay eliminates the need to write paper checks and […].
PYMNTS
JUNE 12, 2019
Security researchers have revealed another cryptocurrency mining malware that has already installed itself on Oracle servers. According to The Next Web , the malware attacks Oracle WebLogic Servers to install a Monero cryptocurrency mining bot. It is able to stay hidden because the malicious code is obscured in certificate files, and, therefore, can go undetected by firewalls and antivirus software.
Payments Source
JUNE 12, 2019
Long gone are the days when consumers had their Social Security and driver’s license numbers pre-printed on their paper checks for faster identity verification. Consumers now understand that such precious elements of their identity need to be better protected.
PYMNTS
JUNE 12, 2019
Faster and emerging payments systems are gaining traction, as nearly half of corporates are using or interested in using new payment services. Among these new services, the top focus is real-time payments (55 percent), followed by same-day ACH (44 percent) and blockchain-based networks (35 percent), according to Bottomline Technologies’ 2019 B2B Payments Survey.
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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.
Let's Talk Payments
JUNE 12, 2019
We have seen that launching and scaling a startup continues to be a challenging journey for early-stage entrepreneurs, and we have all heard the statistics that a large number of startups fail. That is why today, IBM announced the IBM Hyper Protect Accelerator Powered by IBM LinuxONE designed to build and scale the next generation of FinTech and HealthTech companies with solutions engineered to keep their sensitive data highly secured.
PYMNTS
JUNE 12, 2019
Phone numbers, email addresses, usernames and other online signifiers have become essential to verification as the world becomes more connected. In B2B news, Visa is launching an end-to-end payments network called Visa B2B Connect , which is built on elements of distributed ledger technology and the open-source Hyperledger Fabric framework. And, in retail, firms from automakers to merchants are tapping into connected commerce technology.
Payments Source
JUNE 12, 2019
Successful digital transformations these days are done not as make-or-break moon-shots but as a continuing series of smaller projects, says Tata Consultancy Services' David Jordan.
PYMNTS
JUNE 12, 2019
Whitepages Pro has announced that it is spinning off its B2B business from the U.S.-focused direct-to-consumer operations of Whitepages.com, and is changing its name to Ekata. The company explained that the move aims to better differentiate its Software-as-a-Service ( SaaS ) tool and global B2B application program interfaces (APIs) that serve the identity verification market, which is predicted to reach $20 billion in 2022.
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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.
Let's Talk Payments
JUNE 12, 2019
To strengthen Hong Kong’s status as the leading international location for FinTech business in Asia, InvestHK has announced a significant expansion of its annual Hong Kong FinTech Week, moving to a bigger venue to accommodate a greater variety of program, business events, exhibitors, and attendees after the success of the 2018 edition. Get a glimpse of the 2018 edition here.
PYMNTS
JUNE 12, 2019
To bring their merchandise in front of millions of shoppers through eCommerce, several Goodwill regions are teaming with mobile marketplace OfferUp. More than 100 Goodwill store locations ranging from New York to San Francisco are uploading products like collectibles, clothing and furniture to the platform to drive in-store and online sales. With the tie-up, the items are listed under handles for regional Goodwill locations.
CFPB Monitor
JUNE 12, 2019
Having announced in April 2018 that it would be holding a symposia series, the CFPB has now set a date for the first symposium of the series. The first symposium, to be held on June 25, 2019 , will focus on the Dodd-Frank Act’s prohibition of abusive acts or practices, specifically the meaning of abusiveness. It will be webcast on the Bureau’s website.
PYMNTS
JUNE 12, 2019
Online universities have become common as more students seek convenient, flexible ways to earn degrees. They are particularly popular among nontraditional students, like new parents who need to take classes at their own pace or full-time professionals who need to take evening courses to advance their careers. Western Governors University (WGU), a nonprofit online university based in Salt Lake City, was founded in 1997 by 19 governors of western U.S. states to create a skilled workforce.
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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
JUNE 12, 2019
The Clearing House's Real-Time Payments hasn't grown as fast as it would like, but recent small-bank adoption is providing momentum for a network that assumes the Federal Reserve won't start its own real-time service.
PYMNTS
JUNE 12, 2019
Chinese technology company Huawei will not launch its new laptop due to restrictions put on the purchasing of U.S. parts by the American government, according to a report by The Wall Street Journal. The announcement is the first real consequence to Huawei since the restrictions were put in place. The U.S. Commerce Department banned American companies selling to Huawei over concerns of spying and espionage, something Huawei denies.
Payments Source
JUNE 12, 2019
New project models and the cloud can serve as an alternative to payment and financial services technology strategies that benefit larger banks more than small institutions, argues Vinay Prabhakar, vice president of product at Volante.
PYMNTS
JUNE 12, 2019
London calling. Much has been made in recent weeks about the rise of ride-hailing, and about the fact that red ink dominates the major players’ bottom lines (that would be Uber and Lyft ). And both firms have made mention, on earnings calls and beyond, that they expect more entrants to crowd the space. Now comes a shot across the bow, especially for Uber, this time in London.
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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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