Tue.Sep 04, 2018

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The future of bitcoin

Chris Skinner

I sometimes find it hard to deal with our world of money these days. Everyone keeps asking should I buy bitcoin and my answer is always it’s your choice. I don’t believe in bitcoin, but I’m not one of those doom mongers who say it’s going to die. It won’t … The post The future of bitcoin appeared first on Chris Skinner's blog.

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Rabobank’s Innovation Lab Is Building Tools for Industries Beyond Financial Services

Bank Innovation

Fintech innovation at Rabobank is making itself felt in fields outside of financial services. The bank’s innovation lab has pioneered an IoT project for agriculture, and is an example of how innovation in financial services touches virtually every industry. “We ended up with a project called Movement, which is an IoT device used for tracking cattle on farms, […].

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Things worth reading: 5th September 2018

Chris Skinner

Things we’re reading today include … Deutsche Bank to Be Removed From Euro Stoxx 50 Index Danish bank scandal grows to ‘gigantic’ proportions Peer-to-peer lender Funding Circle plans £2bn flotation ING to pay €775m in money laundering case TSB chief Paul Pester steps down after IT meltdown Exclusive: Big Australian … The post Things worth reading: 5th September 2018 appeared first on Chris Skinner's blog.

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Which Fintech Companies Have Over 1 Million Customers?

Bank Innovation

Fintech startups, particularly neobanks, have long suffered from having great technology, but few customers using it. Simple and Moven had more innovative offerings than traditional peers, but that didn't translate to more customers or more revenue. What was BBVA paying for when it bought Simple for $117 million in 2014? It wasn't the customers, which […].

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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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Carrier billing in Asia: 2018 market report

Payments Dive

This market report gives an overview of the digital ecosystem and direct carrier billing landscape in South-East Asia.

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More Trending

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India’s eCommerce Market Expected to Hit $150B By 2022

PYMNTS

A new report says that India’s e-commerce market could hit $150 billion by 2022 due to rising incomes and a boost in Internet users. The report by software industry lobby group Nasscom and consulting firm PwC India — called “Propelling India Towards Global Leadership in eCommerce” — says that India’s eCommerce industry is expected to contribute 4 percent of GDP by 2022.

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The Sorry State of Contact Center Technology

Gonzobanker

Customers love digital self-service—right up until they don’t, and then they want a live person. In our work with banks and credit unions around the country, an unavoidable truth comes up again and again: Even the flashiest digital strategy falls flat without the backing of a strong contact center. Today’s contact center is the critical human voice of successful multi-channel delivery.

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Retailers Can Tap Into Mobile Stores With Self-Driving Cars

PYMNTS

Click-and-collect and delivery aren’t the only options for grocers to provide eCommerce ease to their customers: They can also let customers shop through mobile stores in front of their homes. And, with the help of self-driving technology, these vehicles can reach consumers without the need for a driver at the wheel. Companies such as AutoX are seeking to disrupt this space by bringing the grocery store experience home to customers with its self-driving vehicles.

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CFPB Provides Additional Guidance on HMDA Partial Exemption

CFPB Monitor

The CFPB recently released an interpretive and procedural rule to implement and clarify the partial exemption from the Home Mortgage Disclosure Act (HMDA) adopted in the Economic Growth, Regulatory Relief, and Consumer Protection Act (also known as S.2155). As we reported previously , the Act amended HMDA to create an exemption applicable to the new data categories added by Dodd-Frank and the HMDA rule adopted by the CFPB for insured depository institutions and insured credit unions that origina

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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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ING Group Fined For Money Laundering, Due Diligence Lapses

PYMNTS

Financial crime is drawing scrutiny — and fines — at large financial institutions. To that end, ING Group said it has agreed to pay 775 million euros — about US$900 million — to settle investigations by Dutch authorities over money laundering and other illicit activities. Drilling down a bit, Bloomberg noted that the settlement is comprised of a 675 million fine.

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Bitcoin Suspect Could Shed Light on Russians Targeted by U.S.

Payments Source

A cryptocurrency expert languishing in a Greek jail may have a vantage point on a tantalizing issue — how Russians in U.S. Special Counsel Robert Mueller’s crosshairs used Bitcoin to obscure their money trail.

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What’s the Future For Payment Cards?

PYMNTS

What does the future hold for the plastic payment card? Will it go the way of the check — still in use, but seemingly out-of-date, as more consumers use mobile devices for transactions? Or will cards with cutting-edge technology win more loyalty from shoppers? Such questions are addressed in a new PYMNTS story that features an interview with Sebastien Clamagirand, general manager of secure payment and identity at NXP Semiconductors.

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Banks and Rewards: What Price Loyalty?

Payments Source

The loyalty and rewards landscape is in a state of flux. Consumers are being bombarded with a bewildering range of options, and they are primed to jump ship when a better offer comes along – perhaps half have switched to a new credit card in the past year.

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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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Jumio On Montreal As AI Tech Hub

PYMNTS

There are many locales that come to mind in looking toward the next big thing in FinTech, in payments, in AI and beyond. London and Silicon Valley make the cut, and increasingly, so does Montreal. The Canadian city is increasingly on FinTech’s radar amid a strong academic backdrop and relatively relaxed immigration policies. Those attributes help set the stage for tech upstarts to hire the talent they need and want.

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How a VC views the bank-fintech battle (hint: banks are losing)

Payments Source

Minal Hasan, a lawyer turned prominent fintech venture capitalist, has strong views on founder dramas, cryptocurrency, and why banks need to step up their technology game.

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UK Bank Referral Scheme Yields $20M For SMBs

PYMNTS

Since the U.K. implemented its bank referral scheme, aimed at linking small businesses to alternative finance when they’re rejected for a bank loan, it has yielded less than $20 million in loans for SMB borrowers. Reports in the Financial Times Adviser on Friday (Aug. 31) said the government’s bank referral scheme has linked small businesses to less than $20 million in funding since its November 2016 launch.

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Hungary’s Giro Zrt plans national instant-payments system

Payments Source

Giro Zrt, a Hungarian financial services industry organization that operates a domestic automated clearing house payments network, is teaming with the payments service provider Nets A/S to create a national instant payments service.

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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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NXP On Plastic: There’s A Lot Of Life Left

PYMNTS

The plastic payment card is dead. Long live the plastic payment card! Forgive the whipsaw attitude, but that’s how it can feel sometimes when discussing the future of payment cards. On one hand, advances in mobile technology, biometrics and other areas tease a future that requires no consumer to reach into a purse or wallet to make a purchase. On the other hand, consumers — virtually all of them — still reach into their purses and wallets to pull out payment cards, cash or the occasional checkbo

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9.4.8 Your morning briefing

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: Paytm launches investment app; Reserve Bank of Australia suffers an outage; Virtual Cryopto Technologies launches a bitcoin ATM converter; Ipagoo joins Chaps; Adyen tests 3D Secure.

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Tapzo Shutting Down After Acquisition By Amazon

PYMNTS

Tapzo, the app aggregator acquired by Amazon Pay , announced on Tuesday (Sept. 4) that it is shutting down the mobile app. According to a report in DEALSTREETASIA , citing an email to customers, Tapzo said the app is shutting down on Oct. 31 and that the entire Tapzo balance will be credited to customers’ bank accounts. “Since we launched the app three years ago, we’ve been fortunate to serve over five million customers.

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Discovery to buy full control of card unit from FirstRand

Payments Source

Discovery Ltd. is on track to start a South African bank by the end of this year after agreeing to buy FirstRand Ltd.’s stake in a credit-card venture, a transaction which had delayed the lender’s launch.

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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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Canned Wine Sales Jump By 43 Percent

PYMNTS

While canned wine is not a new concept, the product has become increasingly popular with consumers. Beverage research firm BW 166 found that sales of canned wine jumped by 43 percent in the U.S. between June 2017 and June 2018, CNBC reported. Even so, canned wine doesn’t make up a large portion of the alcohol space: The product comprises only approximately 0.2 percent of all wine sales.

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TSB CEO quits following second IT crisis

Bobsguide

TSB Bank has announced that CEO Paul Pester is stepping down from his position after seven years. Richard Meddings, current non-executive chairman, takes on the role of executive chairman with immediate effect. "Although there is more to do to achieve full stability for customers, the.

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With Platform Embedded In 25M Vehicles, Xevo’s Putting Pedal Down On Connected Commerce

PYMNTS

The race is on to reduce commerce and payments friction in the fast growing world of connected vehicles. Automotive manufacturers , payments players and other digitally-focused firms are experimenting and competing to build, deploy and win driver loyalty from the software platforms vital to the new, emerging world of cars and trucks. Among the participants in that race is Xevo , an automotive software supplier whose technology is already deployed in some 25 million vehicles worldwide, includin

Software 101
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Google’s rebranded ‘Tez’ gives it a path become a global payment giant

Payments Source

Google has a validated and ready to roll out mobile payments model that it has developed in less than one year, writes Daniel Döderlein, CEO and founder of Auka.

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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.