Thu.Mar 28, 2019

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Blockchain is dead

Chris Skinner

I used to blog about blockchain and distributed ledger technology (DLT) almost once a week … four years ago. Today, I hardly blog about it at all. I guess it just shows what’s top of mind and what’s not at any time in FinTech and, right now, blockchain is not … The post Blockchain is dead appeared first on Chris Skinner's blog.

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Wearables may drive contactless, reduce POS time

Payments Dive

Ralf Gladis, founding director, Computop, explains why with the growing adoption of wearable devices, merchants have a clear opportunity to help improve the payments experience for merchants and consumers alike.

Payments 338
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Things worth reading: 29th March 2019

Chris Skinner

Things we’re reading today include … SEC delays disputed plan to probe exchange pricing conflicts Swedbank chief sacked amid money laundering scandal City watchdog fines Goldman Sachs £34.4m for misreporting RBS faces shareholder rebellion over chief executive’s pension Wells Fargo CEO Tim Sloan steps down Business chief calls on MPs … The post Things worth reading: 29th March 2019 appeared first on Chris Skinner's blog.

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Visa Partners With Remitly On Real-Time Global P2P

PYMNTS

Instant payments — and the ability to push funds immediately across the debit rails to consumer bank accounts — has entered something of a renaissance. The demand is there: According to the latest edition of the PYMNTS Disbursements Tracker , 75 percent of consumers expressed a preference for faster payments, and 84 percent of those consumers reported debit cards as their preferred way of receiving those funds.

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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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Conversational AI Firm Kasisto Partners with U.A.E. Digital Bank Liv

Bank Innovation

United Arab Emirates-based digital bank Liv on Wednesday launched its virtual assistant Olivia, which was built by conversational AI company Kasisto. Olivia, a play on the bank’s name Liv, can check balances and give spending insights through text and the bank’s mobile app. Liv, a digital bank geared towards millennials in the U.A.E, has 210,000 […].

More Trending

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Bank Branches Embrace New Strategies as Closures Abound

Bank Innovation

The migration of consumers to online and mobile banking options, in addition to automation and other technological forces, has helped fuel thousands of bank branch closures over the past few years. However, banks have hardly given up on figuring out new ways to transform branch banking. A net decrease of 1,947 branches in the U.S. […].

Strategy 170
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ICBA Bancard And MK Decision Team For Loan Approvals

PYMNTS

ICBA Bancard, the payments services subsidiary of the Independent Community Bankers of America (ICBA), announced a new partnership with MK Decision (MK) for its online loan-origination system. In a press release , ICBA Bancard said the partnership with MK Decision streamlines its credit card application process to make it easier for customers when shopping and applying for cards.

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JPMorgan, Nomura Job Cuts Add to Wave of Pullbacks in Finance

Bank Innovation

Automation and new technology are replacing thousands of workers at banks and asset managers around the world, just as consolidation -- including Deutsche Bank AG’s proposed merger with Commerzbank AG -- puts thousands more jobs at risk. The pressure on headcount follows bouts of volatility that roiled global markets late last year, and investors’ growing […].

Marketing 150
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Line To Expand Into Payments, FinTech To Avoid Complacency

PYMNTS

Line , the Asian messaging company majority owned by Naver, the South Korean Internet search company, is expanding its business into payments and other FinTech services. In an interview with the The Financial Times , Shin Jung-ho, the founder of the company said Line is expanding into cashless payments and FinTech in an effort to not remain complacent or stagnant.

Fintech 174
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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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Regulatory flexibility drives Asia's cryptocurrency markets

Bobsguide

Constant dialogue and regulatory flexibility is propelling Asia to the forefront of the crypto industry, while Western jurisdictions and regulators fall behind by adopting a slower “wait and see” approach, according to executives at two EU-based cryptocurrency firms. “Asia can.

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SWIFT’s gpi Gains X-Border Traction Overseas

PYMNTS

For SWIFT, gpi continues to gain traction. The global financial messaging service said last week that six Spanish banks – covering roughly 85 percent of the cross-border payments market tied to that country – have signed on to SWIFT global payments innovation (gpi for short). The new banks include Banco Sabadell, Banco Santander, Bankinter, BBVA, CaixaBank and Grupo Cooperativo Cajamar.

Apple 166
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Apple Card forces companies to view themselves as an ‘ecosystem’

Payments Source

Once Apple looked at the state of its existing ecosystem, it identified a space it could uniquely deliver on, and activated the partners needed to make it come to fruition — a perfect example of the concept of ecosystem enablement, argues Frank Kenney, director of market strategy for Cleo.

Apple 129
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Citi Releases Annual Digital Money Index Report

PYMNTS

Citi and the Imperial College Business School have released the latest Digital Money Index, a report that tracks 84 countries and their digital money readiness, Citi said in a news release. The index is in its sixth year and compares collated data from five consecutive years. The report concluded that there’s been a 5.5 percent improvement in the digital money readiness for all countries tracked.

Report 158
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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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The 10 places where the U.S. wants to mandate cash

Payments Source

U.S. lawmakers are not enthusiastic about the cashless trend being driven by the likes of Amazon Go, sweetgreen, and numerous other merchants of all sizes.

Trends 136
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Kiosks Flourish In International Markets

PYMNTS

Kiosks are gaining more power in retail, especially as it becomes ever more obvious that consumers are not quite ready to cut ties with physical forms of buying, contrary to the early fever dreams of the eCommerce age. The trend is playing out with increasing force outside the U.S., as a recent Amazon move has demonstrated. News recently emerged that Amazon wants to roll out kiosks in India that will enable consumers to purchase hardware, including its Kindle eBook reader, the Echo, its smart sp

Marketing 158
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Visa, Remitly partner on faster cross-border P2P

Payments Source

Visa and Remitly have formed a partnership enabling U.S. consumers to send cross-border remittances in real time via Visa Direct, the card network’s debit push-payments service.

Cards 114
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How An eCommerce Interior Design Platform Furnished A DTC Brand

PYMNTS

After styling rooms based on the tastes of their customers, online interior design platforms are branching out by offering their own direct-to-consumer (DTC) furniture brands. Modsy , in one case, recently launched its first furniture line called Minna Home that includes sofas as well as chairs and is based on feedback from the company’s customers. The company has eight unique styles of sofas with matching chairs that have their own names and personalities.

Branding 145
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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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5 ways gift cards got big in the U.K.

Payments Source

The U.K. prepaid gift card market is experiencing strong growth among consumers who buy them as gifts and for self-use, as well as among businesses that purchase them for customer loyalty programs and as employee incentives.

Cards 96
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DocuSign Invests $15M In Seal Software For AI Contract Analysis

PYMNTS

San Francisco-based DocuSign has invested $15 million in Seal Software , a contract discovery and analysis startup, to help with the development of artificial intelligence (AI) that can read and analyze contracts, according to reports. The two companies have a previously existing partnership in which Seal’s technology is distributed through DocuSign’s platform extension program.

Analysis 142
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U.K. pushes for smarter mobile fare payments

Payments Source

The U.K. government is consulting with train operators on smart pay-as-you-go ticketing. The goal is to enable consumers to travel across the U.K.’s entire railway network by tapping in and out with contactless cards or smartphones instead of paper tickets.

Mobile 95
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Platform Economy’s Strong Growth, Based On Trust

PYMNTS

The platform economy is global in scope, spanning countries, borders, languages and currencies. Digital meeting places, you might call them – bringing buyers and sellers together across any number of verticals, from eCommerce tied to retail to gig economy matchups that get projects done. It’s big business – and about to get bigger, as the stats show, per our latest findings in the Payments and the Platform Economy.

Policies 140
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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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Industry reacts to Apple Card: â??extremely similar to other productsâ??

Bobsguide

“Built on simplicity, transparency and privacy, and designed to help customers lead a healthier financial life” reads the opening of the Apple press release unveiling its new credit card.

Apple 94
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Why Credit Unions Crush Loyalty

PYMNTS

If there’s one lesson that credit union (CU) members took away from the 35-day government shutdown earlier this year, it’s that cooperative institutions have their members’ backs. During that time of considerable financial uncertainty, CUs stepped forward to help affected federal workers who were either furloughed or required to work without pay by offering services like deferred loan payments or zero-percent interest on 60-day loans.

Fraud 139
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How open banking enables the digital economy

ATM Marketplace

Open banking represents a huge opportunity for financial institutions. By creating ecosystems to develop new customer propositions and generate new revenue streams, banks will be better able to compete with third-party players and big tech like Amazon.

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Microsoft Expands Azure IP Program, Donates 500 Patents To LOT Network

PYMNTS

Microsoft announced Thursday (March 28) that it is expanding its Azure IP Advantage program, providing developers building Internet of Things with solutions that connect to Azure with access to thousands of patents. According to a report in TechCrunch , the Azure IP Advantage program provides access to 10,000 patents, aimed at helping the companies fight against patent trolls who launch lawsuits over patent infringement.

Regional 134
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.