Fri.Mar 16, 2018

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India’s Embrace of The Startup

Bank Innovation

The startup culture in India is beginning to heat up. INV Fintech, Bank Innovation’s accelerator arm, has seen an increase in applications from India, and currently has two Indian companies in its accelerator. To facilitate the creation of an entrepreneurial and innovative ecosystem, the Government of India, through its premier policy Think Tank called the Niti.Read More.

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Payments companies make it easier for consumers, merchants to embrace cryptocurrencies

Payments Dive

While most consumers today likely view bitcoin, bitcoin cash and alternatives such as Ethereum and Litecoin as assets, some payments companies in the past couple of months have announced plans for consumers to more easily use cryptocurrencies as payment, and merchants to accept them.

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If you are struggling with debt, here’s some good advice

Chris Skinner

I’ve seen several friends suffering with mental health issues. Much of it is caused by stress with work but, equally, I’ve noticed that a lot of it has to do with stress with money. Someone loses their job and only have savings that cover them for the shortest time. I‘ve … The post If you are struggling with debt, here’s some good advice appeared first on Chris Skinner's blog.

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How Do You Drive Customer Value with Mobile? [VIDEO]

Bank Innovation

Mobile payments may not be mainstream in the United States quite yet, but it’s growing to be a more popular payment method as new smartphones, devices, and features make their way across the consumer stage. The varied mobile payment platforms that are now vying for consumer interest will have to make sure that their platform.Read More.

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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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Amex Files Blockchain Faster Payment Patent

PYMNTS

American Express has reportedly filed a patent related to faster payments and blockchain technology, reports in CoinDesk said. The U.S. Patent and Trademark Office released the patent application filed by American Express Travel Related Services Company, the payment technology firm’s travel unit, which outlines the use of blockchain technology to accelerate payments between two parties.

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How Analytics Can Help Fashion Brands And Retailers

PYMNTS

What does it take for a fashion brand to stay on top of the trends? A lot of market data. But not all brands excel at crawling the web for information relevant to their businesses. “A lot of brands are having a hard time keeping up with the pace of consumer changes,” StyleSage ’s Director of Marketing and Digital Strategy Elizabeth Shobert told PYMNTS in an interview.

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Fintech Robinhood Could Reach $5.6B Value After Newest Funding Round

Bank Innovation

Silicon Valley startup Robinhood is set to hit a $5.6 billion valuation after its newest funding round, expected to reach $350 million, it was reported yesterday. This would represent a “fourfold increase in just one year” when it comes to the startup’s valuation, the Wall Street Journal reported, and would make Robinhood one of the.Read More.

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Cascade To Power Crypto Card Loading

PYMNTS

This time last year, if a customer asked Cascade about cryptocurrency loading, the startup had to tell them, “We don’t do that.” Its partner banks weren’t supporting the feature, so neither could Cascade. But as more and more people started asking about it, Founder and CEO Spencer Schmerling began to recognize the big opportunity in front of him. That’s why Schmerling said the startup is now launching a crypto loading capability, among other new services and API enhancements.

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Through New Oracle Partnership, Baton Systems is Bringing the Cloud, APIs, DLT to Banks

Bank Innovation

EXCLUSIVE—The legacy infrastructure of most banks leaves something to be desired, and payments technology provider Baton Systems wants to use the cloud, APIs, and distributed ledger technology to help. The company, which just won the Bank Innovation 2018 DEMOvation challenge, has partnered with financial technologies provider Oracle, a move that will allow its technology to.Read More.

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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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Retailers See A Future For Drones Beyond Delivery

PYMNTS

Ever since 2013, when Amazon CEO Jeff Bezos said the eCommerce giant was working on a 30-minute drone delivery program called Prime Air, people have been saying that delivery is the big retail use case for drone technology. Domino’s furthered the point by delivering a pizza by drone in 2016. Regulatory red tape has so far kept either delivery program from becoming a reality, but the technology was there and the value proposition was clear, as retail and logistics companies worldwide struggle to

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Why understanding the voice of the customer reaps long-term dividends

Bobsguide

Over the last few years the financial services sector has made significant improvements in the decisions it makes that affect customers. The major fines that resulted in big newspaper headlines a decade ago have dwindled, but at the same time customers still lack trust. A YouGov poll last year found.

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Lyft Takes A Page From Netflix, Tests Monthly Subscriptions

PYMNTS

Ride-hailing company Lyft is reportedly testing the availability of monthly subscription plans for customers who use the service a lot. Citing comments Lyft Chief Executive Logan Green made at a press event this week, The Verge reported Lyft could take a page from Netflix and Spotify by bringing a subscription-based model to the transportation market.

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How banks can use data effectively | editor's picks

Bobsguide

This editor's picks is all about the sexy world of data solutions and specifically how banks can get ahead using data correctly. Since 2015, we've seen many data enrichening technologies mature into mainstays in the banking technology landscape. 2018, as well as 2017, will be equally as.

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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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To Improve Treasury Tech, Target The Developers

PYMNTS

The financial services industry’s sudden support for application programming interfaces (APIs) has people talking about the power of data sharing. Certainly regulations like PSD2 and the U.K.’s Open Banking initiative encourage API development and adoption, with industry players acknowledging the technology’s ability to efficiently comply with data sharing rules.

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Crypto's naysayers dismiss the currencies' social impact

Payments Source

To take Bill Gates’ anti-cryptocurrency comments at face value is to dismiss out of hand a $500 billion cryptocurrency market and the thousands of traders, scientists, engineers, academics, business people, and media professionals it employs, writes Rob Viglione, co-founder of ZenCash.

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Aussie Accountants Brace For Industry Disruption

PYMNTS

Australia’s Institute of Public Accountants (IPA) is urging its members to “future-proof” their businesses as the industry heads toward disruption. Reports in Money Management on Thursday (March 15) said the IPA’s Vice President, Sam Zervides, issued a statement encouraging accountants to collaborate and explore value-added services, particularly for small businesses (SMBs).

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7 setbacks for wearable payments

Payments Source

There are signs that the wearable payments market is starting to come into focus. However, that doesn't necessarily mean it's destined for success.

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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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Not All Consumers Are Willing To Use Amazon Key

PYMNTS

While almost 64 percent of Americans trust Amazon , only about 31 percent are willing to use Amazon’s in-home delivery service, InsuranceQuotes.com reported. The willingness of Americans to use the service, which is known as Amazon Key, differs by factors such as gender. While 40 percent of men are willing to use the service, only about 24 percent of women are willing use it.

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How one retailer fights goliaths like Amazon by minimizing payment costs

Payments Source

It's hard to build an online marketplace when the same products can be found just as easily on Amazon and eBay. But Reverb has found success in fine-tuning the way it handles data and payments.

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Alibaba Partners With Qupital For SMB Financing

PYMNTS

Alibaba is enhancing its relationship with invoice financing company Qupital , reports in AsiaOne on Thursday (March 15) said. Their partnership means Alibaba small business sellers that are members of the platform’s Gold Supplier program will be linked to invoice financing via Qupital. The initiative follows Alibaba’s earlier investment in the alternative lender last May, marking Alibaba Entrepreneurs Fund’s first investment in a Hong Kong company.

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Biometrics is primed to be a security mainstay

Payments Source

While building consumer trust in these new payments methods will undoubtedly take time, the possibility of freeing consumers from physical payment objects – cash, cards, phones – would be transformative, writes Beatta McInerney, business development manager for payments at ScanSource.

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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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NEW DATA: Smart Tech Makes Street Parking Smarter

PYMNTS

When the parking meter made its grand debut in 1935, it allowed municipalities to collect money in exchange for vehicles to be parked for a set amount of time. Simultaneously, it created the inconveniences of forcing motorists to locate change wedged in between seats to feed the meter, while also keeping track of time to avoid a parking ticket. Thankfully, today’s parking kiosks have moved beyond coin-operated solutions to accept dollar bills, credit and debit cards, mobile wallet and mobile app

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Is fragmentation holding back mobile payments in the US?

NCR

Mobile payments are quickly becoming the standard way of completing point-of-sale transactions for a growing number of people, and this is a trend that’s being seen around the world. In China, for example, more than half of smartphone users are expected to use proximity mobile payments by 2020, according to figures from Capgemini’s World Payments Report 2017 , while in Europe, Forrester estimates usage will triple by 2021.

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Supply Chain, Linked and Billed Via Blockchain

PYMNTS

Even at its smoothest, supply chain management is never the easiest of endeavors. Transparency is key, but often is lacking – in part because of far-flung parties, which include both sides of a transaction (buyer and seller, of course) that may be operating across time zones, languages and currencies. Frequently, there are intermediaries involved with financing.

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Same Day ACH hits its third phase, mandating 5 p.m. availability of funds

Payments Source

Nacha has completed the third and final phase of the faster payments launch, requiring banks and credit unions to make Same-Day ACH funds available to depositors by 5 p.m. in local time.

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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.