Bank Innovation
NOVEMBER 28, 2017
Which banking advertisement will you remember best from 2017? Here at Bank Innovation, we have our picks: as we do annually, we have ranked the top banking ads of the year. The 15 videos below were not chosen based on the number of viewer impressions or any other form of data-driven measurement, but were selected […].
Chris Skinner
NOVEMBER 28, 2017
For many years we have had discussions about bank branches and a branchless future. I personally don’t believe in a branchless future, but many do. And yes, there are many branches disappearing, much to the annoyance of those who lose that physical store. For example, America still has a large … The post We still need bank branches appeared first on Chris Skinner's blog.
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Bank Innovation
NOVEMBER 28, 2017
French bank Société Générale will be closing 300 of its branches as it expands it digital banking capabilities and moves to cut costs, the bank announced yesterday. The plan, which will take place over a three year period, will shutter 15% of the bank’s branch network, as well as cut 900 jobs. The move comes […].
Payments Dive
NOVEMBER 28, 2017
Verifone North America President Joe Mach shares insight on what retailers are doing, the big trends in play with customer experience and how consumers are spurring trends and retail customer experience strategies.
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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
NOVEMBER 28, 2017
The search term “buy bitcoin with credit card” is around a historic peak as the cryptocurrency races towards a $10,000 value. This is according to Nick Colas, the co-founder of Data Trek Research and former Wall Street analyst. The search term is clearly on the rise, according to Colas, though it only makes up approximately […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 28, 2017
Consumer lender PayBright today launched an instant consumer financing for online purchases feature in Canada, just in time for the holidays. PayBright started out this new financing solution as a three-month pilot. Following a successful trial, PayBright said it has already approved over $5 million per month in credit for consumer shopping. The feature is […].
Accenture
NOVEMBER 28, 2017
With the introduction of the revised payment services directive (PSD2) in January 2018 just around the corner, banks face a new and potentially disruptive era. Open APIs and PSD2 will, in time, disrupt traditional banking. It’s no surprise, then, that the majority of global banks are planning to invest heavily in open banking initiatives by 2020, as revealed in a recent Accenture study.
Bank Innovation
NOVEMBER 28, 2017
EXCLUSIVE – Kiwibank launched a new mobile feature for its business customers today, joining the list of many other fintechs and banks that have unveiled similar merchant-focused apps and features. Today, the New Zealand bank unveiled Kiwibank QuickPay. This mobile solution lets its merchant customers receive “on-the-spot” payments — peer-to-peer payments in realtime.
PYMNTS
NOVEMBER 28, 2017
India’s Axis Bank has launched its instant, cross-border payments solution less than a year after announcing a collaboration with blockchain technology firm Ripple. The bank announced news on Monday (Nov. 27) that its global payments service, which uses Ripple’s blockchain infrastructure, is now up and running. Retail customers can receive payments from the UAE’s RAKBANK using the platform, while corporate clients in India can receive payments from Singapore’s Standard Chartered Bank in real-tim
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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
NOVEMBER 28, 2017
U.K.-based PFM mobile app Chip wants to apply for a banking license. And for that it wants to raise £2.4 million ($3.2 million) in a crowdfunding campaign. Funds from the campaign will be used for the banking license application process. Launched in 2016, Chip uses an AI-powered algorithm to calculate a specific savings amount for […].
PYMNTS
NOVEMBER 28, 2017
It seems individuals will always find a way to get the most out of things, be it expecting innovative technology that will solve their problems or understanding the long-term value involved in a hefty purchase price. Today in PYMNTS’ data, employees have admitted to stealing billions of dollars from employers, biometric software with facial recognition is growing in proliferation, Americans are having trouble keeping money in their savings accounts, businesses are working with month-old data and
Bobsguide
NOVEMBER 28, 2017
Along with most industries that rely on technology, the insurance industry faces great challenges and opportunities. Technology-powered capabilities, such as online and mobile apps, smart contracts, Robotic Process Automation (RPA), and telematics, offer new ways to engage customers, streamline.
PYMNTS
NOVEMBER 28, 2017
Retail email offers aren’t as effective as they should be, according to a Monday (Nov. 27) article published by the Wall Street Journal , and personalization is key to turning that around. “Nearly 90 percent of organizations say they are focused on personalizing customer experiences, yet only 40 percent of shoppers say that information they get from retailers is relevant to their tastes and interests,” said Brendan Witcher, a principal analyst at Forrester Research Inc.
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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.
Gonzobanker
NOVEMBER 28, 2017
“I put a dollar in one of those change machines. Nothing changed.” —George Carlin. It’s November. Normal people think about the holidays, the new necktie/fruitcake/gift certificate that will no doubt be under the tree, and maybe winding down the year. At Cornerstone Advisors , we think about payments. (Right. We know.). Payments represent 10% to 30% of a bank’s net income.
PYMNTS
NOVEMBER 28, 2017
Gone are the days of bandits terrorizing banks in the Old West – but that doesn’t mean banks are safe in the modern age. Online fraudsters pose threats that those bank robbers couldn’t possibly fathom, with the power to potential affect hundreds of thousands of consumers’ accounts – if not more. And now, new financial institutions are relying on technology to find ways to stop increasingly sophisticated cybercriminals in their tracks.
Bobsguide
NOVEMBER 28, 2017
Open Banking is a general term that describes two pieces of regulation: the Competition and Market Authority’s ‘Open Banking remedy’ and the European Payment Services Directive 2 (PSD2). (This whitepaper by Barclays is a very readable resource about this.
PYMNTS
NOVEMBER 28, 2017
Tokenization. It’s not just for payments. In fact, the concept of protecting an underlying credential through substitution has been around for a while. In an interview with PYMNTS, David Worthington, vice president of strategic business development for semiconductor and IP products provider Rambus , weighed in on the ways tokenization offers a tailored method to secure payments and sensitive data as they transverse devices, channels and cyberspace — particularly in instances in which consumers
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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
NOVEMBER 28, 2017
Annual worldwide AI revenue is projected to grow from $644 million in 2016 to $37 billion by 2025, with top use cases including algorithmic trading strategy performance improvement; static image.
PYMNTS
NOVEMBER 28, 2017
In today’s fast-paced business environment, the mad dash at the end of every month to close the books is hardly beneficial to today’s entrepreneur – or her accountant. According to Kurt Rathmann, CEO and founder of SMB accounting firm ScaleFactor , the month-end close may be the traditional way of doing things, but it forces small business owners to examine data that, by the time a financial report is completed, is too old to be of much use. “In the simple accounting environmen
Insights on Business
NOVEMBER 28, 2017
In a recently blog, I wrote about the pressures on financial institutions to offer immediate payments processing to their customers. “ “Banks should plan for a real-time everything in the future – more than just a payment type, real-time will underpin everything digital that a bank does,” states Gareth Lodge, senior analyst at Celent.* ”. Understanding the complexity of this task, IBM has been actively working with The Clearing House and the Zelle network to figure out how to help customers mana
PYMNTS
NOVEMBER 28, 2017
In somewhat surprising news, given the retail brand’s struggles over the years, the Gap has been crowned the “winner” of the Black Friday shopping weekend, according to Wall Street. While mall and department store shopping in general was more robust that analysts were expecting, the Gap and Old Navy were particularly big shockers. “Traffic and conversion appeared solid on Black Friday, despite sales continuing to be dispersed throughout the entire weekend and an ongoing migration of Black Friday
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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
NOVEMBER 28, 2017
Nearly half of the cardholders in the U.S. have had at least one card reissued in the past year, with those experiencing fraud multiple times saying they have had nearly five cards reissued.
PYMNTS
NOVEMBER 28, 2017
In the wake of success for online firms like Amazon, grocers are cracking down on late shipments to ensure items are restocked quickly and to keep customers coming back. They’re also attempting to win back some of the $75 billion lost each year to unavailable or out-of-stock retail products. According to news on Monday (Nov. 27) from The Wall Street Journal , grocers like Walmart and Kroger have levied fines against food suppliers for late deliveries, charging 3 percent and $500, respectively, f
Payments Source
NOVEMBER 28, 2017
Paytm Payments Bank is targeting to become the world’s largest digital bank with 500 million bank accounts and aims to turn into an integrated financial services company that offers everything from wealth management to share trading.
PYMNTS
NOVEMBER 28, 2017
Some of the most notable recent changes to the automotive market include the rise of electric-only vehicles , advancements in autonomous vehicle technology , the growth of rideshare companies and built-in vehicle payment tools that enable motorists to use their wheels to pay for parking or gas. While some of these innovations are on the horizon and others are currently in place, it’s clear the automotive industry is camped in the disruptions fast lane and barreling toward a reinvention without t
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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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