Sun.Jan 05, 2020

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Welcome to 2020: What’s new?

Chris Skinner

Welcome to 2020. It’s a new day. It’s a new year. It’s a new decade. And yes, I’m feeling good. 2020. This is a year all of us futurists have looked forward to for over two decades as, back in 2000, it became popular to talk about a 2020 vision. … The post Welcome to 2020: What’s new? appeared first on Chris Skinner's blog.

US 367
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Two more groups submit Singapore digital banking license bids

Bank Innovation

Two more consortiums said they submitted bids for digital banking licenses in Singapore as companies, ranging from a massage chair maker to a property giant and Chinese fintech firms, joined forces to go for the sought-after permits. Beyond Consortium, led by one of Asia’s largest massage chair makers, V3 Group Ltd. and stored-value card company […].

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First Of 40 Burger King Venezuela Locations Now Accepts Bitcoin

PYMNTS

Burger King is letting people pay their way in Venezuela with a new bitcoin partnership that enables cryptocurrency purchases, CoinTelegraph reported on Saturday (Jan. 4). Confirmed in a Dec. 30 tweet by @cryptobuyer, a Panama-based crypto platform, there is one Burger King in the Sambil area of Caracas that accepts coin payments from bitcoin, Ether, Litecoin, Binance Coin, Dash and the stablecoin Tether.

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Majority is building a financial toolkit for new immigrants to the US

Bank Innovation

Digital banking brand Majority, which is aimed at reaching immigrants who lack credit history, is on pace to launch across the U.S. this year. Majority is a membership-based digital banking service that costs $5 per month. It gives immigrants a platform to manage their money, send funds home to their families and carry out long-distance […].

US 273
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Amazon Eyes Germany For Brick-And-Mortar Locations

PYMNTS

Germany — Amazon’s second-biggest market after the U.S. — could be getting physical stores, Reuters reported on Saturday (Jan. 4). Amazon ’s German head was quoted in a local newspaper as saying the eCommerce giant is aware that its customer base has needs that go beyond what is presently offered. “The fact is that we know that customers shop offline and that they like variety,” Ralf Kleber told German newspaper Welt am Sonntag , according to Reuters.

Atlanta 133

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Alphabet-Backed Healthcare Startup, One Medical, To IPO

PYMNTS

One Medical , a conglomerate of technology-driven primary care offices backed by Google’s Alphabet , has filed an initial public offering (IPO), One Medical announced on Friday (Jan. 3). . The San Francisco-headquartered startup runs membership-based healthcare clinics and was launched by internal medicine doctor Tom Lee, who served as the company’s chief executive officer until 2017.

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Banks Looking to Recruit More Staff to Check for Money Laundering in 2020

Banking Exchange

Qualified candidates are few and far between, demand is high Compliance BSA/AML Operational Risk Compliance Management Compliance/Regulatory Big Data Feature3 Human Resources Feature Management AML & Fraud.

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UK Government Awards Contract Despite Contractor’s Bad Credit

PYMNTS

The U.K.’s Crown Commercial Service (CCS) announced that Britain’s biggest construction company Balfour Beatty would be hired, even though it was among major construction firms that were recently punished for failing to pay suppliers on time, according to The Construction Index. Balfour Beatty was suspended from the Prompt Payment Code in April 2019.

Payments 131
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Next Best Action is the Next Best Move for Mid-Sized Banks

Banking Exchange

The focus needs to shift to what customers want to buy Community Banking Customers Revenue Core Systems Branch Technology/ATMs Big Data Bank Performance Feature Management Financial Trends Lines of Business Feature3.

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The State of Automation in Financial Services 2024 Report

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

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Bookkeeping Platform Receipt Bank Raises $73M

PYMNTS

Digital bookkeeping platform Receipt Bank notched approximately $73 million in equity and debt in a Series C funding round, according to an announcement by global investment bank Harris Williams. The funding round was led by Insight Partners, which was joined by Augmentum Fintech, with participation from existing investors Canadian Imperial Bank of Commerce (CIBC) and Kennet Partners.

Fintech 131
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BBVA teams with Amazon to sell … aprons and chocolate?

Payments Source

Europe's PSD2 data-sharing mandate is inspiring banks such as BBVA to form unconventional alliances.

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Changes To Business Lending Underway At India’s PSU Banks

PYMNTS

India’s state-owned banks are going through changes that could mean an overhaul in business lending, The Economic Times (ET) reported on Friday (Jan. 3). . For decades, public sector undertaking (PSU) banks have largely been responsible for handling the working capital loans that many firms need for daily operations. Based on net current assets, the system for corporate borrowers was considered flawed, having loaned too much money to some businesses and too little to others. .

Lending 130
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Social messaging is the new frontier for phishing

Payments Source

Traditional phishing attacks on email are easier for most users to spot, causing crooks to migrate to new venues, argues The ai Corporation's James Crawshaw.

Fraud 75
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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India’s InMobi Ad Platform Sees 53 Pct. Increase In YOY Losses

PYMNTS

Indian unicorn startup InMobi reported a net loss of ?54 crore in the fiscal year ending in March of last year, which is a year-on-year increase of 53 percent compared to the previous one, according to Deal street Asia. InMobi offers advertising services to businesses. According to its finance data, InMobi also reported a 20 percent jump in revenues, going from ?

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The rise of the invisible bank

American Banker

Digital banking will become less visible because it will be embedded in other daily activities with the help of AI, voice interfaces and other emerging technologies.

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P&G Enters The Connected CPG Device Market

PYMNTS

Product giant Procter & Gamble made its first appearance in 2019 at the annual Consumer Electronic Services showcase in Las Vegas. It is back again this week with more smart technology-enhanced household items. The company’s devices revealed at the influential tradeshow so far include smart toothbrushes, fragrance diffusers, baby care items, razors, and facial skincare devices.

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6 takeaways from bank M&A in 2019

American Banker

Though there were several high-profile mergers of equals among bigger banks, deal activity rose only slightly, and the vast majority of transactions involved the smallest of institutions. Here's an overview of those trends and others that stood out in bank dealmaking last year.

Trends 62
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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How to Avoid Irrelevance in the New Decade

The Financial Brand

Bank and credit union managers have no choice but to embrace sweeping industry change if they, and their institutions, wish to move forward. The post How to Avoid Irrelevance in the New Decade appeared first on The Financial Brand.

How To 38
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Bitcoin Daily: SEC Demands Telegram’s ICO Allocations; Coinbase CEO Expects To See 1B Blockchain Users By Decade’s End

PYMNTS

Venkata S. Meenavalli , CEO of the cryptocurrency firm Longfin, has agreed to settle with the Securities and Exchange Commission (SEC) and pay $400,000 in disgorgement and penalties, the SEC announced on Friday (Jan. 3). The SEC charged that Longfin and Meenavalli falsified more than 90 percent of Longfin’s reported revenue for 2017 and made up other details in the company’s IPO paperwork, the SEC said in public filings. .

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Why Fintech Challengers May Not Conquer Banking After All

The Financial Brand

The catch: Many legacy banks won't win either, says Accenture's bank lead. The new era is all about multilateral partnerships and open data. The post Why Fintech Challengers May Not Conquer Banking After All appeared first on The Financial Brand.

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Financial Marketers Must Dig Deeper to Fathom Gen Z Before It’s Too Late

The Financial Brand

Community banks and credit unions may already be losing their chance at serving this generation because mobile makes first accounts stickier. The post Financial Marketers Must Dig Deeper to Fathom Gen Z Before It’s Too Late appeared first on The Financial Brand.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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Financial Marketers Must Decode Gen Z Before It’s Too Late

The Financial Brand

Community banks and credit unions may already be losing their chance at serving this generation because mobile makes first accounts stickier. The post Financial Marketers Must Decode Gen Z Before It’s Too Late appeared first on The Financial Brand.