Bank Innovation
DECEMBER 15, 2017
If it feels like innovation has been one of the hot themes of 2017 in the financial world, it’s because its true. A new report shows that despite many companies struggling to maintain a culture of innovation, financial services companies are among the top three industries getting it right. One of the factors helping them […].
Chris Skinner
DECEMBER 15, 2017
I often talk about faster horses and how banks think digital is doing banking cheaper and faster. It’s all about efficiency and effectiveness. So, I was asked the other day: where is the car? After all, it’s easy to call out banks for doing banking as usual but, if I … The post Look East for innovation appeared first on Chris Skinner's blog.
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Bank Innovation
DECEMBER 15, 2017
Here comes the world’s first virtual transit card in Android Pay, well at least according to Google and Portland’s public transport operator TriMet, who teamed up to unveil the Hop Fastpass. TriMet announced today that a group of TriMet C-Tran and Portland Streetcar beta testers can now load this virtual card into Android Pay and […].
Payments Dive
DECEMBER 15, 2017
Mobile Payments Today takes a look back at the top features on the site throughout the past year.
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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
DECEMBER 15, 2017
EXCLUSIVE—While the U.S. is unlikely to ban token sales outright, those looking to raise funds with an ICO (or Initial Coin Offering) should make sure they’re paying close attention to risk. This is according to Joshua Ashley Klayman, co-head of the blockchain and smart contract group, Morrison & Foerster. “It doesn’t look like [regulators] are […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
DECEMBER 15, 2017
Another digital banking startup has raised funding this week, this time to expand a current account offering aimed at students and millennials. Loot, a startup begun in 2014 by founder Ollie Purdue — who was finishing up school at the time of the company’s founding — has raised £2.2 million, or about $2.9 million, in […].
PYMNTS
DECEMBER 15, 2017
It looked great in the store, but it didn’t look so great when it got home. It’s a problem all consumers face, and it isn’t that big of a deal for most objects. Thinking better of a buy is an easily solved problem generally handled by finding a receipt and returning to the store to trade in a wrong purchase. But, as easy as that is when the item in question is, say, a t-shirt, the mechanics of buyer’s remorse become a good deal more complex when the thing that didn’
Bank Innovation
DECEMBER 15, 2017
A federal judge has ruled on a New York lawsuit set against the Office of the Comptroller of the Currency’s decision to begin offering fintech charters, stating that the suit was ‘premature’ as the OCC has yet to receive applications for these fintech charters. Judge Naomi Reice Buchwald noted that the complaints listed in the […].
PYMNTS
DECEMBER 15, 2017
Life is full of complexity. Life for a small- to mid-sized business (SMB) scaling operations into new countries? Complex on so many levels, especially when it comes to payments and, more specifically, invoicing, where demands for payment are tracked through paper and electronic means. On a good day, managing the ebb and flow of supply chains, accounts receivable and accounts payable can be challenging; on a bad day, juggling all those spinning plates becomes a nightmare.
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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
Bank Innovation
DECEMBER 15, 2017
Smart card Edge has bought the remaining assets of Plastc, which folded in April. Yes, smart cards are still around — sort of. The idea behind many of them was that multiple cards could be loaded by mobile app, and deployed as the situation demanded, based on rewards or merchant offers. The most famous smart card, […].
PYMNTS
DECEMBER 15, 2017
After announcing a deal to help Ford sell electric vehicles in China, Alibaba has unveiled how they plan to sell them: Car Vending Machines that look like futuristic buildings. According to Tech Crunch , customers simply use Alibaba’s Taobao app to scan a car that they want to test drive. Once the system recognizes the vehicle, it allows users to pick a color, and once they enter basic information and snap a selfie, arrange for a test-drive if the vehicle is available.
Bobsguide
DECEMBER 15, 2017
Over the last few decades, big banks have treated transactional data as any old tit and tat to be crammed and forgotten into the landing cupboard; they just didn’t know what to do with it. Now the fintechs are demanding access, not only to stack it neatly, but to find value there.
PYMNTS
DECEMBER 15, 2017
In this space we have highlighted the need to “Kill the Check” through a number of interviews with Ingo Money CEO Drew Edwards. And driving a nail into the paper coffin has some real benefits — the most obvious one would be the literal abandonment of paper, where processing costs are as high as $10 a check. That’s money out the door for companies just to send money out the door.
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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
DECEMBER 15, 2017
What do card issuing banks and eCommerce merchants share in common? The ever-growing burden of card-not-present fraud. Both sides respond with sophisticated arsenals of multi-layered fraud tools that aim to reduce losses, prevent damage to the customer relationship and control operational.
PYMNTS
DECEMBER 15, 2017
A Japanese internet service provider (ISP) is reportedly readying to pay employees in bitcoin. According to news from Bitcoin Magazine on Thursday (Dec. 14), GMO Internet Group, which provides internet services for consumers and businesses, is introducing an option for employees to receive part of their salary in bitcoin. The publication noted that while cyrptocurrency companies have been using bitcoin for payroll for some time, the move by GMO Internet Group suggests mainstream, traditional co
Let's Talk Payments
DECEMBER 15, 2017
With demand comes supply, and the old truth proved to be working in 2017 when we saw a significant proliferation of Initial Coin Offerings (ICOs). Regulatory bodies have come through for.
PYMNTS
DECEMBER 15, 2017
A new survey from Citizens Bank explores how mid-market CFOs in the U.S. are anticipating new technologies and market trends for the year to come, with these professionals signaling interest in real-time and electronic payments. In an announcement Thursday (Dec. 14), Citizens Commercial Banking released the results of its newest survey, which examines input from 300 CFOs at companies with between $25 million and $2 billion in annual revenue.
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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.
Let's Talk Payments
DECEMBER 15, 2017
Developments in blockchain technology have taken a leap to a whole new level – the first license for FinTech firms using blockchain distributed ledger technology has been introduced by Gibraltar’s financial.
PYMNTS
DECEMBER 15, 2017
Google is helping travelers using Google services find better rates on trips, flights and hotels by expanding its booking features. These new features will now tell users the best time to buy an airline ticket or to determine when room rates are higher, among other things. “A recent study we did indicated that travelers are most concerned about finding the best price for their vacations – more than with any other discretionary purchase,” Google wrote in a blog post.
NCR
DECEMBER 15, 2017
Biometric technologies hold huge potential for the retail banking industry. By allowing consumers to verify their identity with a fingerprint scan or a spoken word, biometrics could eliminate the need for passwords and unique user IDs – removing one of the weakest links in the security chain. However, it’s important that financial institutions (FIs) are also aware of the risks associated with biometrics.
PYMNTS
DECEMBER 15, 2017
By now, the alternative lending market is hardly new, and investor appetite for startups in the space seems to have waned. But every few weeks, the industry roars back with an impressive investment streak. This week, alternative finance companies raised more than $77 million in venture capital funding, accounting for nearly 70 percent of total funds raised by B2B FinTech startups this week.
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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
DECEMBER 15, 2017
As shopping habits evolve, e-commerce and m-commerce methods such as in-app and one-click ordering are becoming increasingly popular. In addition, the exponential growth of the IoT is introducing a wealth of new payment use-cases, such as connected cars, writes André Stoorvogel, Director, Product Marketing in the Payments Group at Rambus.
PYMNTS
DECEMBER 15, 2017
A bad quarter has sent fashion retailer H&M scrambling to adjust its strategy. The Swedish group said that strategy now includes closing more stores and opening fewer new ones, as well as beginning to sell its brand’s offerings on Chinese eCommerce platform Tmall. Shares in H&M, the world’s second-largest fashion retailer, fell 13 percent this quarter, Fortune reported Friday.
Payments Source
DECEMBER 15, 2017
More retailers are accepting mobile wallets, but few agree on what that entails. Many stores are coming up with their own wallets by building on past successes or burying payments deep under the surface of their mobile channel.
PYMNTS
DECEMBER 15, 2017
Credit card services provider TSYS announced Friday that it has extended its existing agreement with Capital One Financial Corp. Under the terms of that pact, TSYS will continue to provide processing services for Capital One’s North American roster of accounts, a list that spans both consumer and commercial credit card accounts. The agreement is being extended across “multiple years,” TSYS noted.
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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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