Chris Skinner
NOVEMBER 1, 2017
As Sweden was the first European country to use cash for payments back in 1661 [link] it’s unsurprising that it’s the first European country that wants to be cashless. This is why, for several years, I’ve been watching the regular speeches by Lars Nyberg, Deputy Governor of the Sweden’s central … The post Will Sweden be the first cashless country?
Bank Innovation
NOVEMBER 1, 2017
The lawsuit of a small business in Massachusetts against alternative lender Kabbage is raising questions about the role of partner banks in marketplace lending, namely, whether it’s the bank or the fintech that can be called the “true lender.” The suit filed earlier this month alleges that Kabbage, together with its partner Celtic Bank (chartered […].
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Payments Dive
NOVEMBER 1, 2017
This market report gives an overview of the mobile payments landscape of the Middle East and North Africa. Markets covered (by population): Egypt, Turkey, Algeria, Saudi Arabia, Iraq, Morocco, Tunisia, United Arab Emirates, Kuwait and Bahrain.
Bank Innovation
NOVEMBER 1, 2017
Social investing is a popular concept among millennials looking to invest, but many of this generation’s investors have yet to start such invest in a “socially responsible” manner, according to a study by Swell Investing. Released last Monday, the study found that 54% of millennial investors say that they are not investing in socially conscious […].
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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
PYMNTS
NOVEMBER 1, 2017
Two years ago, when Samsung Pay entered the mobile payments scene, it did what Apple and Android a year before it had not: It made mobile payment capabilities at the physical point of sale (POS) more or less ubiquitous right out of the gate. This new digital way to pay was made possible via technology that Samsung acquired, called “magnetic secure transmission” — MST — the very same technology that enables merchant point-of-sale terminals to accept a mag stripe card for payment.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
NOVEMBER 1, 2017
After years of doubt, financial professionals are trusting the cloud. Research released last month by Adaptive Insights found 73 percent of surveyed CFOs trust the cloud to host their financial data today. That trust has permeated the financial services industry, too, as banks begin to migrate data and apps to the cloud and FinTechs launch entirely on cloud infrastructure.
Bank Innovation
NOVEMBER 1, 2017
Shares of cross-border payments company TransferWise are set to change hands in a sale that could boost its current $1.2 billion valuation. The sale, first reported by Sky News, is part of a series of transactions by London-based venture capital company Draper Esprit. The company’s new stake in TransferWise is part of Draper’s acquisition of […].
PYMNTS
NOVEMBER 1, 2017
Small businesses (SMBs) are increasingly satisfied with their traditional financial service providers, though banks are pushing to heighten their innovation strategies and provide SMBs with the high-tech, customized services that those small businesses demand. The October 2017 PYMNTS Bank Innovation Readiness Index , developed in collaboration with i2c , found these financial institutions (FIs) are enjoying a bit of success in their efforts to digitize and innovate.
Bank Innovation
NOVEMBER 1, 2017
EXCLUSIVE – Personal banking platform, Finn.ai, will launch in Central America by the first quarter for next year, Bank Innovation has learned. “Although we cannot disclose the specific country where the product launch will happen, I can say that it will be happening either in this quarter or the next,” Jake Tyler, CEO of Finn.ai, […].
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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
PYMNTS
NOVEMBER 1, 2017
Small- and medium-sized businesses (SMBs) often lack visibility into how their traveling employees are making payments and spending company money, finds a new survey from the Global Business Travel Association (GBTA) Foundation, which was released on Tuesday (Oct. 31). Highlighting some of the key findings of its 2017 Business Travel Payments Study, which was conducted in conjunction with AirPlus International, the GBTA Foundation found that cash continues to play a significant role in how trave
Bank Innovation
NOVEMBER 1, 2017
EXCLUSIVE – Add another credit card to list, or rather add four to the ever growing list of cards. This new collection of cards are coming from American Express’ co-brand relationship with Hilton Hotels. Amex also announced today that it purchased Citi’s Hilton co-branded credit card portfolio, making it the exclusive issuer of all Hilton […].
PYMNTS
NOVEMBER 1, 2017
A small business (SMB) in Massachusetts borrowing funds via marketplace lender Kabbage has sued the platform, igniting new debate in the conversation over the definition of a “true lender,” according to reports in the National Law Review on Tuesday (Oct. 31). On Oct. 12 of this year, a small business owner sued Kabbage, Inc. and Celtic Bank in a federal court in Massachusetts.
Bank Innovation
NOVEMBER 1, 2017
Digital remittance company Remitly will raise $115 million in a Series D funding. The round of funding will be led by PayU, the fintech unit of global media company Naspers. Other investors will include Stripes Group, DFJ, and DN Capital. As a part of the transaction, which is subject to regulatory approval, PayU CEO Laurent […].
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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.
PYMNTS
NOVEMBER 1, 2017
When people talk about the eCommerce giants “getting into movies,” usually they’re talking about digital content – offering films, TV shows, and even their own exclusive content for download at whatever a la carte or subscription rate is lower than what that other eCommerce guy is charging. This time, however, Alibaba founder Jack Ma is literally getting into movies – or at least, one movie.
Insights on Business
NOVEMBER 1, 2017
Digital transformation is one of the biggest shifts in core banking fundamentals in the past few years – and for more reasons than you might realize. Before digitization, banking was done solely in the local branch. Bankers worked with their customers face to face, building relationships by learning about each individual customer and their unique life situation.
PYMNTS
NOVEMBER 1, 2017
Financial services technology firm Fiserv reported results for the third quarter that showed top line growth even as some revenue streams were pressured. Earnings missed consensus estimates. The company said that earnings were $1.27 on a adjusted basis, below the projected earnings of $1.31. The top line came in at $1.40 billion, gaining from the third quarter of 2016, where revenues were $1.38 billion.
Let's Talk Payments
NOVEMBER 1, 2017
About 10 years from now, are we going to look back and realize that banks had already missed the massive market change and were already on their way out?
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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.
PYMNTS
NOVEMBER 1, 2017
Accounts payable (AP) firm MineralTree is teaming up with Western Union to help companies pay suppliers overseas. An announcement Tuesday (Oct. 31) said MineralTree will integrate its AP solutions into the Western Union offering, enabling business customers of Western Union to pay their vendors across borders. The integrated solution also syncs with accounting and enterprise resource planning (ERP) systems, automates data capture and purchase order matching and offers several security features.
Let's Talk Payments
NOVEMBER 1, 2017
Brandwatch, in collaboration with Twitter, just released the results of a very curious study analyzing billions of conversations one of the most vibrant social media channels. “6,000 Tweets are posted.
PYMNTS
NOVEMBER 1, 2017
Mastercard came out ahead of Wall Street’s forecasts when its Q3 earnings report hit the wires before the markets opened yesterday – notching a beat on both earnings and revenue, with significant growth in transaction volume and global market share. Markets rewarded the good news with a 1.8 percent increase in share price during premarket trading. Most of those gains, however, were lost later in the day following Mastercard’s separate announcement of a potential regulatory fine from the Europea
Bobsguide
NOVEMBER 1, 2017
“In-Memory Computing for Financial Services eBook, Part 2,” published by GridGain Systems, takes a detailed look at how in-memory computing platforms such as GridGain and Apache® Ignite™ can help financial services firms leverage in-memory computing to take advantage of modern.
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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.
PYMNTS
NOVEMBER 1, 2017
Remitly, an independent digital remittance company, announced that it had agreed to raise up to $115 million in series D funding, according to Business Wire. PayU, a FinTech investment division of Naspers, will lead the investment round. Remitly investors Stripes Group, DFJ and DN Capital will also be joining the round, Business Wire reported. The CEO of PayU, Laurent le Moal, will join Remitly’s board of directors as a result of the investment.
Bobsguide
NOVEMBER 1, 2017
On May 25th, 2018, a mere eight months away, the biggest overhaul of EU data protection law will come into force for all EU Member States with the introduction of the General Data Protection Regulation (GDPR). GDPR will impose substantial financial penalties on firms who fail to meet the new.
PYMNTS
NOVEMBER 1, 2017
Mastercard came out ahead of Wall Street’s forecasts when its Q3 earnings report hit the wires before the markets opened yesterday – notching a beat on both earnings and revenue, with significant growth in transaction volume and global market share. Markets rewarded the good news with a 1.8 percent increase in share price during premarket trading. Most of those gains, however, were lost later in the day following Mastercard’s separate announcement of a potential regulatory fine from the Europea
Payments Source
NOVEMBER 1, 2017
Startups and banks have watched for years as young consumers shifted from credit cards to debit cards to, finally, P-to-P apps. But what's driving that shift may not be what the providers intended.
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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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