Chris Skinner
OCTOBER 8, 2018
Another lively discussion followed my meeting with the FinTech communities in Asia. It was interesting as we had a chat about all aspects of what was happening in South-East Asia, and the overwhelming message that came back to me was that the regulatory sandboxes had become sandcastles. What I mean … The post From sandbox to sandcastle appeared first on Chris Skinner's blog.
Bank Innovation
OCTOBER 8, 2018
Not even a month has passed since Julie Demarigny, a veteran in digital entertainment industry having served Warner Bros. and Sony Music, has joined West Coast focused Union Bank as its head of digital banking. In her new role, Demarigny will lead all digital strategy for the bank and its savings-only platform PurePoint Financial as […].
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Chris Skinner
OCTOBER 8, 2018
I keep seeing headlines about Amazon opening a bank, challenger banks pulling the crown off the incumbent banks heads, the end of old banks, the disruption of the system and the end of all traditional financial services. I guess some would say that I fall into this camp and, on … The post Are challenger banks challenging? appeared first on Chris Skinner's blog.
PYMNTS
OCTOBER 8, 2018
The latest rundown of small business (SMB) finance research uncovers key areas for improvement: Younger small business owners are more often relying on personal credit cards for business purchases, paper remains a staple in the finance department, and, while small business loan delinquency rates overall remain stable, research showed several industries in which they rose last month.
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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 8, 2018
Today the Swedish retailer H&M announced a $20 million investment in the payments company -- and as of June 2017, a fully licensed bank -- Klarna, which is also based in Sweden. The move underscores the growing importance of a smooth payments experience and is expected to radically alter the payments experience at H&M both online and in-store.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Matt Wilcox Pro
OCTOBER 8, 2018
No sooner did direct marketers commence salivating at targeting opportunities posed by that newfangled Internet thing … than the United States Congress and various regulatory bodies set about passing laws to hamper them. Or, at least, that was the idea. Many rules are so plastic as to allow for a good deal of wiggle room—and marketers have [.
PYMNTS
OCTOBER 8, 2018
There is much to be shocked by in the unfolding Danske Bank money laundering scandal, such as the simple amount laundered through the Estonian branch of the Denmark-based bank — $234 billion at current count, roughly the size of the entire Danish economy — or the fallout from the event, including the bank’s CEO Thomas Borgen stepping down in connection with the scandal and investor confidence evaporating.
Payments Source
OCTOBER 8, 2018
Despite the real-world use cases being found around blockchain and distributed ledger technology, banks are being warned to be cautious about committing to any such projects.
PYMNTS
OCTOBER 8, 2018
Understanding who one is doing business with is the first step to mitigating a myriad of risks, including non-compliance, non-payment, violated contracts and more. For decades, business partners have gathered at in-person meetings, conferences and networking events to do business, with the physical business card hand-off as a vote of confidence in a potential new client, service provider or vendor.
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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
Bobsguide
OCTOBER 8, 2018
The payments community is well used to the abundance of acronyms that has become its legislation of late, but less so to the grey overlaps between various directives and standards - least of all Strong Customer Authentication (SCA) within the online and e-commerce payment experience. But Payment.
PYMNTS
OCTOBER 8, 2018
Whether they’re shopping on their phones or the web, consumers want to be able to do so in a fast, easy way. So, when it comes to accessing their accounts to shop online, the way they are authenticating needs to be a footnote at best. That’s not to say consumers don’t want top-notch security, according to the PYMNTS Digital Identity Lifestyle Capsule , a Socure collaboration.
Payments Source
OCTOBER 8, 2018
Emotional connections can make a difference when consumers have many different ways to shop and pay, according to Tom Caporaso, CEO of Clarus Commerce.
PYMNTS
OCTOBER 8, 2018
The headlines come fast and furious — the numbers are staggering. The drill is well-known now, with a litany of familiar names amid data breaches. Equifax and the 143 million victims of a massive hack here in the States stands as a landmark. Card data stolen from millions of department store customers? A story told too often. And, of course, Facebook is now a household name in a less than savory field: data harvesting.
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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.
ABA Community Banking
OCTOBER 8, 2018
Of the most influential sectors are customer service, financial services, and fraud detection Technology Feature3 Fintech Bank Performance Management Financial Trends Customers Cyberfraud/ID Theft.
PYMNTS
OCTOBER 8, 2018
In Venezuela, citizens reportedly now need to use the country’s new Petro digital currency to pay for passports, Coindesk reported. A new passport will now come at the cost of two Petros, which is equivalent to 7,200 of the country’s bolivar currency. President Maduro Petro officially rolled out the Petro last week, but the cryptocurrency had been available for pre-sale earlier this year.
Bobsguide
OCTOBER 8, 2018
A few weeks ago, I sat on a webinar panel discussing the concept of Request for Pay (RfP) and what the implications will be for the US market when it is made available as part of The Clearing House’s Real-Time Payments (RTP) network. I was joined by my esteemed partners Keith Gray from the.
PYMNTS
OCTOBER 8, 2018
The impact of Europe’s General Data Protection Regulation ( GDPR ) continues to take shape roughly five months after taking effect, and Facebook could be on the hook for billions of dollars in fines tied to a data breach of about 50 million user accounts. As reported, the social media giant was hacked through a vulnerability in the Facebook source code, which gave the attackers the ability to steal access tokens, which they in turn used to keep Facebook subscribers logged in.
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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 8, 2018
Across the globe, firms of different shapes and sizes have always struggled with cash and working capital management. Modern businesses – and their finance and treasury departments – constantly aim to effectively manage their debt ratios, with the aim of efficiently using cash as a.
PYMNTS
OCTOBER 8, 2018
B2B payments company TransferMate Global Payments has announced a partnership with AccountsIQ , which will enable its customers to access preferential FX rates for payments through an automated solution within the AccountsIQ system. TransferMate, which is partly owned by AIB and ING Group , has built one of the largest portfolios of payment licenses in the world, partnering with banks, FinTech firms and software providers to offer its clients better exchange rates, lower bank charges and improve
Bobsguide
OCTOBER 8, 2018
The potential impact and role of Artificial Intelligence (AI) is undeniable. We increasingly see highly repetitive tasks moving from human manual labour, to machine-based automation. Fraud prevention is often labelled as one of the ‘quick wins’ for AI, and there is no dispute that the.
PYMNTS
OCTOBER 8, 2018
IBM announced on Monday (Oct. 8) that there is growing adoption of its food supply chain network, IBM Food Trust. The blockchain-based cloud network provides participating retailers, suppliers, growers and food industry providers with data from across the food ecosystem to enable greater traceability, transparency and efficiency. In a press release , IBM said that global retailer Carrefour announced it will use the IBM Food Trust blockchain network to strengthen its food excellence steps.
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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.
Bobsguide
OCTOBER 8, 2018
The age-old problem with treasury reporting is that setting up reports takes time and money. Large Excel files with flexible data capturing features need to be prepared and sent to subsidiaries in order for these to enter the necessary data. The next challenge is to collect the data, identify and.
PYMNTS
OCTOBER 8, 2018
H&M and Klarna announced Monday (October 8) that the two have inked a partnership in which they will further integrate H&M’s physical and digital stores. In a press release , the companies said that with the deal customers will get a more personalized shopping experience, whether that’s in a physical store or online. Under the deal, Klarna will power H&M’s Club payment program, provide an omnichannel customer payment offering, give customers a streamlined post-purchase service
ABA Community Banking
OCTOBER 8, 2018
Have we learned our lesson from the 2008 financial crisis? How do we ensure it doesn’t happen again? Technology Feature3 Management Risk Management Risk Adjusted Operational Risk Credit Risk.
PYMNTS
OCTOBER 8, 2018
Microsoft, the software giant, is expected to win antitrust approval for its $7.5 billion acquisition of GitHub , the coding website. Reuters , citing two people familiar with the matter, reported on Monday (Oct. 8) that the European Union will approve the deal with no conditions. Marking its largest acquisition since it acquired LinkedIn in 2016 for $26 billion, Microsoft is acquiring GitHub to increase its cloud computing business so it can better take on rival Amazon with its Amazon Web Servi
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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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