Chris Skinner
OCTOBER 30, 2018
I got this headline today: Most banks will be made irrelevant by 2030 – Gartner Within 12 years time, 80% of financial firms will either go out of business or be rendered irrelevant by new competition, changing customer behaviour and advancements in technology, according to forecasts by Gartner. And it … The post Gartner: you’re better than this appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 30, 2018
Sean Kennedy, president of Cowboy Chicken, and Modern Market Technology Director Brian Anderson shared insight and tips on crafting a digital experience strategy at the Fast Casual Executive Summit.
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Bank Innovation
OCTOBER 30, 2018
In preparation for the future of digital banking, Temenos, the Switzerland-based banking software provider, appears to be putting its money on artificial intelligence. The company announced this month the launch of the Centre of Excellence for Artificial Intelligence to serve as its “innovation engine.” Emily Steele, president for North America at Temenos, told Bank Innovation […].
Payments Dive
OCTOBER 30, 2018
Not only do card fraud losses take a dollar-for-dollar toll on bottom line profitability, card fraud blights the customer experience—undermining consumers' trust and collectively costing issuers millions annually in lost business.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Chris Skinner
OCTOBER 30, 2018
Things we’re reading today include … Monzo now worth more than £1 billion Michael Jordaan’s Bank Zero prepares to shake up the banking system In two sessions, $200 billion of FANG market cap up in smoke Reserve Bank warns of looming global threats to Australian economy BNP Paribas suffers fixed … The post Things worth reading: 31st October 2018 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
OCTOBER 30, 2018
Digital technology is transforming banking, says everyone from bankers to consultants to vendors, and certainly, the surge in the number of mobile banking apps indicates customers are on board this change as well. Digital banking means many things, but the focus for the consumer is on faster access to his financial information, money, and advice. But […].
PYMNTS
OCTOBER 30, 2018
Corporate cybersecurity is an ever-increasing focus of government entities, with the U.S. Federal Trade Commission (FTC) the latest to place emphasis on the importance of safeguarding data and systems. Late last week, the FTC rolled out a series of informational resources for nonprofits and small businesses (SMBs) to heighten awareness and understanding of cybersecurity threats and how to mitigate them.
Payments Source
OCTOBER 30, 2018
As the gift card market grows and becomes increasingly digital, so has the product's utility.Thus, many consumers are shifting their habits and buying gift cards for themselves either due to an incentive program or to help with budgeting.
PYMNTS
OCTOBER 30, 2018
A consumer’s sense of security and trust can be a funny, even unpredictable thing, especially when it comes to payments, banking and commerce. Maybe it’s the reputation of a brand that lowers the mental resistance to inputting payment and personal details on a mobile device to complete a transaction. Maybe it’s more about convenience and the back-of-mind knowledge that fraudulent purchases would be refunded.
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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
Payments Source
OCTOBER 30, 2018
Margaret Keane discussed Synchrony's investments in technology, including how the card issuer plans to use customer data to help retailers create targeted ads, during an appearance Tuesday in New York,
PYMNTS
OCTOBER 30, 2018
Coinbase, the cryptocurrency exchange operator, has raised a fresh round of funding that gives it a valuation of more than $8 billion. According to a Coinbase blog post , the company raised $300 million in a Series E round of funding led by Tiger Global Management, with participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others.
Bobsguide
OCTOBER 30, 2018
The problem is that the financial services industry is hobbled by behemoth legacy systems that make transformation difficult. Data is more often than not stored in silos — disparate, disjointed, and disorganised systems. If upgrading these legacy systems or migrating data was easy, digital.
PYMNTS
OCTOBER 30, 2018
Strength in global consumer spending — along with double-digit cross-border gains and traction in B2B payments — marked third-quarter Mastercard results released Tuesday (Oct. 30), as management eyes digital checkout and other high-tech payments initiatives in the U.S. and beyond. In terms of headline numbers, Mastercard’s revenues of $3.9 billion, up more than 14.7 percent year on year, edged analysts’ estimates slightly, though management noted that revenue on a currency-neutral basis, and exc
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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
Payments Source
OCTOBER 30, 2018
Customers can access personalized offers through the banking provider’s app, which means every time they earn rewards, find new deals and receive a helpful reminder of a bargain they do not want to miss, writes Mehmet Sezgin, CEO and Founder of MyGini.
PYMNTS
OCTOBER 30, 2018
Paper checks are still the norm when it comes to B2B payments — and companies aren’t happy about it. After all, paper checks are neither easy to use, nor convenient. Twenty percent of companies surveyed by PYMNTS said they dislike using checks for B2B payments because of fraud concerns, while another 18 percent said checks are too expensive. Yet, almost half of the businesses surveyed use checks to send or receive payments on a daily basis.
Payments Source
OCTOBER 30, 2018
They’ve kept tabs on the movement of cash into their till and into their bank accounts but have missed the wealth of data by not monitoring the path and treatment of cash within their organization, according to Rory Herriman, executive vice president and CTO for Software and Digital Systems at SUZOHapp.
PYMNTS
OCTOBER 30, 2018
In the melding of tech and banking services, the goal is an ambitious one: to create a private banker in digital form — a chatting, knowledgeable persona that interacts with the consumer, using twin high-tech engines of machine learning (ML) and artificial intelligence (AI). The ideal digital banker knows (seemingly magically so) about the consumer’s individual situation — whether they’re starting a family, for example, and might be mulling buying a home.
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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.
Bobsguide
OCTOBER 30, 2018
There is satisfaction in swiping a flashy, eye-catching credit card to purchase goods. One of the first to break into mainstream usage, digital challenger banks have followed Monzo’s neon-coloured cards.
PYMNTS
OCTOBER 30, 2018
Most Americans don’t know all that much about tires. According to the U.S. Tire Manufacturers Association (USTMA), 35 percent of American drivers can’t tell if their tires are bald — a problem since cars with worn-out tires are far more likely to crash. . In case you’re wondering, tire treads should be deeper than 2/32 inches; if the tire has less tread than that, it is time to replace it. .
Payments Source
OCTOBER 30, 2018
The information you need to start your day, from PaymentsSource and around the Web: Today: Hitachi takes a stake in the State Bank of India; Alibaba makes a move into luxury retail; PayPal invests in emerging markets; David Sacks invests in B2B cannabis company.
PYMNTS
OCTOBER 30, 2018
It’s never easy being a mom-and-pop merchant, or a similarly small retailer, given the resources of the bigger rivals out there, along with the pace of commerce and payments technology development. However, that also provides endless business opportunity for payment and commerce service providers, of course. AEVI , a FinTech player that says it brings acquirers closer to their merchants, has launched an AppFlow software development kit , a product designed to boost the consumer checkout experien
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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.
Payments Source
OCTOBER 30, 2018
After Rooam's initial launch of its nightlife payment app in its home base of Washington, D.C., the company has agreed to acquire a similar payment app provider to pave the way for its launch in Chicago.
PYMNTS
OCTOBER 30, 2018
Ethos, a startup that claims to process life insurance applications in minutes, has raised $35 million in venture funding. CNBC, citing the company, reported the round of financing was led by Accel and included participation by Google’s venture capital arm. CNBC reported that with the latest capital raise, the total funding for Ethos stands at $46 million and the startup is now valued at greater than $100 million.
Payments Source
OCTOBER 30, 2018
Four years after introducing Apple Pay, the company is going neighborhood by neighborhood trying to get U.S. retailers and consumers to use the service—no easy task.
PYMNTS
OCTOBER 30, 2018
The growing digital fitness market indicates that wearable fitness devices, like smartwatches and fitness bands, are becoming more than just a fad. Recent data found that 40 million fitness trackers were sold in 2017, and 71 million smartwatches shipped this year. Based on current trends, the market is projected to reach $27.4 billion by 2022 — a sign that consumers are fully embracing the 24/7 insight into their personal health.
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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.
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