Bank Innovation
OCTOBER 17, 2017
EXCLUSIVE–Future banking innovations aren’t going to depend on what technology financial institutions are using, but on what data is underlying that technology, according to Dave McKay, president and CEO for the Royal Bank of Canada. If banks want to continue their current innovation progress and more importantly, if they want to elevate that innovation out […].
Chris Skinner
OCTOBER 17, 2017
I finally finished writing my new book. I’m not going to say too much about, except that you should buy it when it comes out. It’s very good. But then I would say that, wouldn’t I? A key theme in the new book is financial inclusion and, to those ends, … The post The truth about Ant Financial … appeared first on Chris Skinner's blog.
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Bank Innovation
OCTOBER 17, 2017
EXCLUSIVE–Former Fed Chairman Ben Bernanke may see blockchain’s potential for payments innovation, but that innovation isn’t going to involve cryptocurrenices. This is according to remarks made by Bernanke during the Swell Ripple conference yesterday, an event that’s being taking place at same time and city (Toronto) as the SWIFT Sibos conference.
Payments Dive
OCTOBER 17, 2017
A study from JPMorgan Chase and Forrester Consulting concludes that both consumers and merchants are taking a break from adopting digital wallets as they wait for the "next wave of progress.
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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
OCTOBER 17, 2017
EXCLUSIVE — Spanish banks, along with certain Spanish telecommunication companies, have come together to establish a national network based on blockchain. The consortium is called Alastria. This non-profit consortium, which will be regulated, is being built on Distributed Ledger Technology (DTL), and will serve as a new data exchange ecosystem for the Spanish banking, energy […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
OCTOBER 17, 2017
After a tumultuous few weeks, online student lender Social Finance, or SoFi as it is better known, is withdrawing its bank license application. The decision is a direct result of the recently announced transition of many senior executives, including the stepping down of the San Francisco-based company’s former CEO and co-founder, Mike Cagney. A few weeks […].
Chris Skinner
OCTOBER 17, 2017
Things we’re reading today include … To change how you use money, Open Banking must break banks Bank of America’s Return to 1950s Style Banking Is Paying Off Virgin Money insists its credit card business is safer than the bigger banks FCA agrees to RBS report scrutiny Bitcoin gets official … The post Things worth reading: 18th October 2017 appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 17, 2017
This case study looks at how Globe has increased its revenue from its digital content through carrier billing in partnership with Fortumo: both by enabling server-to-server payments to merchants like Spotify, as well as enabling carrier billing through Fortumos turnkey products for Badoo, Viber, Game Insight and others.
PYMNTS
OCTOBER 17, 2017
Grubhub isn’t just about hungry people. It’s a hungry brand, gobbling up three different food delivery competitors in the last quarter alone: Boston-based Foodler, Groupon’s OrderUp and most recently, Yelp’s Eat24. The Eat24 deal closed last week on Oct. 10 and rounded out the company’s acquisition plans just in time for the end of Q2. Grubhub paid $288 million for the company — in cash — which Bloomberg notes is twice what Yelp paid when it acquired the smaller food delivery company two years a
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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
Let's Talk Payments
OCTOBER 17, 2017
How many FinTech startups does it take to create one comprehensive payment solution? Apparently, close to 1.5K. That is how many FinTech startups are operating in the payments segment –.
PYMNTS
OCTOBER 17, 2017
Monday (Oct. 16) news reports from QSR magazine shared that yet another well-known brand has recently been hit with a cyberattack. Quick service restaurant (QSR) pizza chain Pizza Hut has announced its own cybersecurity incident, a breach that lasted approximately 28 hours beginning on Oct. 1. QSR magazine described Pizza Hut’s cyberattack as a “temporary security intrusion.
Payments Source
OCTOBER 17, 2017
JPMorgan Chase has made several investments in financial technology startups, but its plan to buy WePay will give its 4 million small-business clients a much more direct way to adopt digital payments.
PYMNTS
OCTOBER 17, 2017
Google is among those exposed by two massive Wi-Fi security vulnerabilities revealed on Monday. The search engine giant has already rolled out patches. In better news, the company has teamed up with Target to power voice shopping and delivery via Google Express, and it’s finally getting its shot at television stardom through a deal with CBS. There’s a KRACK in the Wi-Fi System.
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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.
Let's Talk Payments
OCTOBER 17, 2017
If the history of FinTech teaches us something, it’s that unexpected things happen. Seemingly successful cases meet speed bumps, pivoting the history of the whole segment. Today’s picks are dedicated.
PYMNTS
OCTOBER 17, 2017
In B2B payments, it’s not just the movement of money that’s a pain point for companies — it’s the tracking of that payment and the ability to reconcile those transactions that can be a major headache for both payers and payees. In an announcement on Tuesday (Oct. 17), Visa said it is tackling that issue through a new partnership with accounts receivable (AR) and cash management company Billtrust.
Bobsguide
OCTOBER 17, 2017
We have previously discussed how marketing channel optimisation is contingent on two processes; data integration and attribution. The first article, on data integration, covered the importance of tracking, stitching and integrating customer data from the entire end-to-end customer journey in.
PYMNTS
OCTOBER 17, 2017
In response to growing consumer food and dining spending, on Tuesday (Oct. 17) Capital One announced news of its Savor Card , a cash back credit card that gives foodies cash back rewards on dining, groceries and general retail purchases. “When we asked people to share what matters most to them, we heard repeatedly that food and dining are an important part of their lives.
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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.
Bobsguide
OCTOBER 17, 2017
This article is the second installment in the bob’s guide to acquiring risk management systems (RMS). The previous article in this guide, looked at the five questions to determine if you need a new risk management system, and lay the important groundwork before choosing the right system for.
PYMNTS
OCTOBER 17, 2017
Designer resale retail online does not lack for options or enthusiasm. The favored trend of the moment — doubtless fueled by the excess of consumption in the fast fashion fad — is simplicity: slimming down the wardrobe to contain less trendy-by-the-minute clothes that maybe have three trips through the washing machine before they’re past their prime and more fit as dust rags.
Payments Source
OCTOBER 17, 2017
By turning itself into a pseudo payment facilitator as part of a new program, Elavon says it is in a better position to grow by offering services in a fast-growing sector.
PYMNTS
OCTOBER 17, 2017
The business advisory firm FTI Consulting has forecasted that online retail sales in the United States will top $1 trillion by 2027 , CNBC reports. The firm expects eCommerce to grow from the current figure, $445 billion, as consumers continue to move away from traditional retailers. As of 2017, online retail sales account for 12 percent of total retail transactions in the United States, but 50 percent of retail sales growth over the span of the previous year.
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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
OCTOBER 17, 2017
TSYS has added two executives to its board, including Thaddeus Arroyo, CEO of AT&T Business, and Richard Smith, who is chairman, CEO and president of Realogy Holdings Corp.
PYMNTS
OCTOBER 17, 2017
Adobe Systems has warned its users that hackers are exploiting vulnerabilities in its Flash multimedia software platform in web browsers. According to a news report from Reuters , cybersecurity firm Kaspersky Lab discovered the issue after a group it was tracking, BlackOasis, used it to plant malicious software on computers before connecting them back to servers in Switzerland, Bulgaria and the Netherlands.
Payments Source
OCTOBER 17, 2017
Chinese tourists visiting the U.S. may begin paying cab fares via Alipay this month in Las Vegas and next month in New York through an expanded acceptance deal with Verifone.
PYMNTS
OCTOBER 17, 2017
Credit card delinquencies increased for three consecutive months, adding to signs that consumers in the U.S. are having a tough time paying their debt. According to a news report in Reuters , credit card data from the likes of JPMorgan and Discover Financial Services on Monday (Oct. 16) show that the number of delinquencies is on the rise. Take JPMorgan , for starters.
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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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