Chris Skinner

DECEMBER 1, 2019

Regular readers of the blog know that I’m a fanboy of Alibaba and their financial firm Ant Financial which operates Alipay, the major payments system of China. On November 11, they had their Singles Day jamboree. The equivalent in China of Black Friday, some say, but more than five times … The post China’s Singles Day is five times bigger than Black Friday … and it’s all down to Cloud and AI appeared first on Chris Skinner's blog.

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PYMNTS

DECEMBER 1, 2019

In an effort to expand access to financial institutions (FIs), the Central Bank of Nigeria is planning to license more payment providers, Bloomberg reported on Saturday (Nov. 30). . The goal is to improve Nigeria’s financial inclusion rate by 20 percent, bringing it to 80 percent by the end of 2020. “The provision of licenses to several players will help support innovation and competition as all parties work to increase their customer base,” Central Bank of Nigeria Governor Godwin Emefiele said

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Payments Source

DECEMBER 1, 2019

Visa is adding more fintechs to a platform that puts the card network in the role of a network-agnostic payment technology company to support open banking.

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PYMNTS

DECEMBER 1, 2019

If microchip supplier Qualcomm wins its case on appeal, the cost of connected cars using 5G technology will skyrocket, automakers and suppliers said in court filings on Friday (Nov. 29), Reuters reported. Judge Lucy Koh ruled in May that Qualcomm, the world’s largest supplier of mobile phone chips, is a monopoly and has to change the way it does business.

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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

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Payments Source

DECEMBER 1, 2019

While we expect growing consumer demand for biometrics, we also expect to see payments industry players move toward these types of future-proof technologies and away from legacy password-type systems, says Nuance Communications' Simon Marchand.

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BankBazaar

DECEMBER 1, 2019

Need urgent cash? Fret not! We’ve compiled a list of Personal Loans that offer zero processing fees and have a quick approval process. Read on. If you find yourself in the middle of a financial emergency, these Personal Loan offers with zero processing fees can help you turn things around in a jiffy. Check them out! Additional Reading: Personal Loan Handbook: All Questions Answered.

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PYMNTS

DECEMBER 1, 2019

The Bank of Russia has voiced its support for a ban on cryptocurrency payments, saying that “private cryptocurrencies cannot be equated with fiat money and cannot be legal tender.”. “If it is decided to ban cryptocurrencies as a means of payment at the legislative level, we consider it appropriate to support this position,” the banking authority said , adding that “we continue to believe that cryptocurrencies carry significant risks, including in the field of laundering of proceeds from crime an

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Independent Banker

DECEMBER 1, 2019

“A plethora of new digital payments offerings now must factor into business strategies.”. What does “the best” mean? It can be a tricky question, as “the best” of anything is usually subject to interpretation. What I think is the best restaurant may not fit your palate, and vice versa. But, in some scenarios, a clear winner rises to the top. For example, in sports, you have a culminating game, race or match to determine the champion, like the World Series—GO NATS!

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PYMNTS

DECEMBER 1, 2019

Germany is planning to temporarily take stakes in high-tech companies in order to stop investors from non-EU countries from acquiring them. The “national fallback” proposal, introduced by economy minister Peter Altmaier on Friday (November 29), would increase the government’s powers to scrutinize and potentially block deals. In fact, Altmaier said that ministers should be able to intervene whenever a non-EU entity tries to acquire a stake of 10 percent or more in any German company in such areas

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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

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Banking Exchange

DECEMBER 1, 2019

These loans are equivalent to legal loan sharking Community Banking Mortgage/CRE Residential Feature3 Consumer Credit Compliance Customers People Cards Fair Lending Credit Risk Feature.

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PYMNTS

DECEMBER 1, 2019

French startup Pixpay is the first challenger bank to cater to teens, offering a debit Mastercard for cashless payments, news outlets reported on Friday (Nov. 29). A Pixpay account can be opened by anyone 10 years old or above, and both parents and children can download the app together. Like competitor Kard , Pixpay wants to give teens a way to go digital and ditch cash altogether. .

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Let's Talk Payments

DECEMBER 1, 2019

If you were asked to mention one sector that has evolved rapidly, you would surely mention FinTech among your top three segments. The FinTech story has evolved from disruption to collaboration.

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PYMNTS

DECEMBER 1, 2019

EU antitrust regulators are probing Google to see how the search giant uses and monetizes the data it collects on users, Reuters reported on Saturday (Nov. 30), citing the European Commission. An EU executive told Reuters that the European Commission wanted to know what methods Google uses to mine data and the reasons behind the collection. . The EU’s investigation is centered on search data, advertising, ad targeting, login services, web browsers and more, according to a document seen by Reuter

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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.

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The Financial Brand

DECEMBER 1, 2019

Financial marketers must set Gen Z plans now or 'the kids' will bank with fintechs or big techs. Free snacks in their beloved branches helps. The post 13 Fresh Gen Z Traits to Understand Before Trying to Bank Them appeared first on The Financial Brand.

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PYMNTS

DECEMBER 1, 2019

Nasdaq and the New York Stock Exchange (NYSE), the two major stock exchanges in the U.S., are proposing an alternative for corporates looking to raise cash apart from the initial public offering (IPO). The Financial Times reported last week that Nasdaq and the NYSE are considering allowing businesses to directly list on their exchanges. The NYSE submitted its proposal to the U.S.

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The Financial Brand

DECEMBER 1, 2019

With big-tech firms looking for more partners, financial institutions should fully understand the potential conflicts before signing up. The post 5 Risks Banks and Credit Unions Face By Partnering With Google appeared first on The Financial Brand.

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PYMNTS

DECEMBER 1, 2019

An exposed database run by TrueDialog revealed millions of SMS text messages, according to published reports on Sunday (Dec. 1). Most of the text messages were sent by businesses to potential customers, with the service offering recipients the opportunity to respond to the messages so they can have two-way conversations with brands or businesses. The exposed database, which contained years of sent and received text messages, wasn’t password protected or encrypted.

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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.

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DECEMBER 1, 2019

Peer-to-peer (P2P) lender Zopa will secure a £130 million ($1.67 million USD) investment that it needs to become a challenger bank. The news comes days before its conditional banking license is set to expire on Tuesday (Dec. 3). A source told the Financial Times that Zopa will receive the funds from an entity linked to IAG Capital Partners, a U.S.-based fund, and its U.K. investment vehicle Silverstripe.

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PYMNTS

DECEMBER 1, 2019

Silicon Valley’s Figure Technologies , co-founded by SoFi Founder Mike Cagney, has raised $103 million in a Series C funding round, reports said on Sunday (Dec. 1). Cagney co-founded Figure Technologies with his wife, June Ou, who serves as the company’s COO. She was previously CTO at SoFi , where Cagney stepped down as CEO in 2017 following allegations of sexual misconduct at the company.

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PYMNTS

DECEMBER 1, 2019

Enterprise software provider Sage is expanding through the acquisition of human resources (HR) solutions provider CakeHR. On Thursday (Nov. 28), CakeHR announced on its company blog that Sage is acquiring the firm to integrate its HR offerings into Sage’s broader enterprise resource planning (ERP) and small business software tools. CakeHR noted that customers will still be able to use its solution as usual, with the takeover providing funding for CakeHR to invest in its platform.

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PYMNTS

DECEMBER 1, 2019

HSBC and Santander UK will refund the overdraft fees of more than 115,000 customers. The Competition and Markets Authority (CMA) reported that both banks failed to comply with new regulations that requires financial institutions to text customers when their accounts are close to running out of money so they can avoid being charged fees. As a result, HSBC will refund £8 million ($10.3 million) to 115,000 customers who were charged without receiving warning texts.

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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.

Compliance

PYMNTS

DECEMBER 1, 2019

India is considering a proposal to cap the commissions on app-based ride-hailing firms, such as Uber and Ola , to a total of 10 percent of the full fare, Reuters reported on Wednesday (Nov. 27), citing a draft document it reviewed. The move could reduce ride revenues by a total of 50 percent. The commission is now about 20 percent of the total fair charged, according to the 23-page document titled “Central Guidelines for Aggregators.”.

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PYMNTS

DECEMBER 1, 2019

A few major retailers experienced technical difficulties on their websites during Thanksgiving weekend —the official start of the holiday shopping season. Costco saw its website shut down entirely for a short time early on Thanksgiving Day, experiencing “intermittent slow load and transaction times” starting late Wednesday, according to website performance monitor Catchpoint.

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social media Retail Analytics Online 117

PYMNTS

DECEMBER 1, 2019

Short sellers have been betting against brick-and-mortar retailers ahead of the holiday shopping season. According to The Wall Street Journal , these investors have taken their most aggressive positions in recent months, with short positions against the SPDR S&P Retail fund hitting 441 percent of its available shares last week. “Everyone talks about the holiday season, and how retailers are doing better,” said Seth Golden, a consultant for the consumer-packaged goods industry in Ocala, Flori

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