Tue.Feb 20, 2018

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Cash is Vanishing so Fast Sweden is Worried

Bank Innovation

Cash is disappearing so quickly in Sweden that government officials are now worried about the effect its cashless society could have on the banking infrastructure. This is according to a report on Bloomberg, published yesterday, where several banking and government officials in the country expressed concerns about the rapid disappearance of cash in the region. […].

Regional 273
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Everything you need to know about bitcoin

Chris Skinner

I’m often asked how bitcoin works, where to buy them and how does it relate to blockchain and differ from ethereum, etc, etc. I was going to write a blog about it but Daniel over on Invest in blockchain beat me to it. He has also kindly let me republish his blog … The post Everything you need to know about bitcoin appeared first on Chris Skinner's blog.

Bitcoin 251
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With Realtime Payments Comes Realtime Fraud — and Banks Need to Prepare

Bank Innovation

EXCLUSIVE—As banks begin to implement faster payment networks, they have to be ready to react to new cases of fraud in higher numbers, Genevieve Gimbert, head of fraud management consulting for financial consultancy PwC told Bank Innovation. “Faster payments has created new payment networks that have increased the competition between services,” Gimbert told Bank Innovation. […].

Fraud 256
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Zelle 'scam' reveals the need for consumer responsibility

Payments Dive

Bottom line: don't do business with people on Craigslist unless you meet them in person.

Meeting 320
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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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Google Pay for Android Goes Live Today [Video]

Bank Innovation

Google has been on a mission to bring all its payment tools under the Google Pay brand, and today that includes Android Pay. Google said today that it has launched Google Pay for Android. According to the announcement, the app on Android will have all the existing features of Android Pay plus some additional ones, […].

Google 239

More Trending

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UK Challenger Bank Tandem Issues First Product: A CashBack Card With No Fees

Bank Innovation

Tandem, a challenger bank based in the United Kingdom, has officially launched its first consumer product: a credit card that offers cashback on purchases, and does not charge exchange fees when users spend their money abroad. Tandem, which gained notoriety for acquiring British bank, Harrods Bank in 2017, is seeking to become the center of […].

Cards 231
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Nike Teams Up With Snapchat For In-App Air Jordan Presale

PYMNTS

Marking the first time that a brand other than Snap has allowed consumers to purchase a product directly through Snapchat, Nike pre-released its Air Jordan III “Tinker” sneakers on Snapchat with same-day delivery, TechCrunch reported. The sale was only available to attendees of a Monday (Feb. 19) afterparty following the NBA All-Star game and through a collaboration between Snap, Nike’s Jordan brand, Darkstore and Shopify.

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SnapCheck CEO Ken Kruszka to Speak at Bank Innovation 2018

Bank Innovation

EXCLUSIVE – Founder and CEO of fintech startup SnapCheck Ken Kruszka has joined the speaker faculty for Bank Innovation 2018. Bank Innovation 2018 will take place March 5-6 in San Francisco. Based in San Francisco, Calif., SnapCheck is a B2B platform that vendors and suppliers can use to send faster payments electronically while reducing their fraud […].

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SMBs Financed Via Personal Debt Less Likely Thrive, Study Finds

PYMNTS

Small and medium-sized businesses (SMBs) that take on debt actually perform better than those that don’t, according to a new report, though analysts warned that companies taking on personal loans rather than small business loans aren’t seeing the same benefits. Reports in Forbes Monday (Feb. 19) said research from finance professors Rebel Cole at Florida Atlantic University and Tatyana Sokolyk at Brock University found a correlation between higher revenues and small business loans.

Study 116
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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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Shift4 Payments continues acquisition streak with CurvePay

Payments Source

Payments processor Shift4 Payments has acquired CurvePay, an independent sales organization focused on the taxi industry, the latest in a string of recent acquisitions.

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UK’s FCA Inks FinTech Collaboration With CFTC

PYMNTS

The Financial Conduct Authority (FCA) and the U.S. Commodity Futures Trading Commission (CFTC) announced Monday (Feb. 19) that they had inked a deal to collaborate and support FinTech initiatives called the Cooperation Arrangement on Financial Technology Innovation (FinTech Arrangement). According to a press release , the two organizations will support each other’s efforts via the FinTech initiatives LabCFTC and FCA Innovate.

Fintech 115
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Payment companies aren't taking advantage of AI's testing strength

Payments Source

By investing in next generation strategies and shifting their mindsets about testing, organizations can better safeguard and control the payments process, providing a more reliable customer experience and better protecting one of their most important assets—their reputations, writes Steve Gilde, a director at Paragon Application Systems.

Company 78
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Friendly Fraud: The Latest Front In The Fight Against Chargebacks

PYMNTS

When most people hear about online fraud, they tend to think about what Noa Kalechstain, Riskified ’s head of chargeback recovery, calls “classic fraud,” she explained in a recent conversation with PYMNTS. That classic fraud entails a thief swiping a card or buying a card number off of the Dark Web and using it to make a variety of online purchases.

Fraud 112
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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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Artificial intelligence is pushing the boundaries for customer experience

Payments Source

AI technologies can satisfy the growing demand for real-time, self-service experiences in a variety of ways, from supporting more voice-enabled payments and transactions to automating complex decision making and product recommendations, writes Marc West, Chief Technology Officer at Fiserv.

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Even Financial Reports $3M Financing Round

PYMNTS

Even Financial announced news on Tuesday (Feb. 20) that it received $3 million in a strategic investing round, with participation from American Express Ventures, the strategic investment unit of American Express. The financial services company said Amex was joined by Plug & Play and Arab Angels in the investment. With the $3 million in hand, Even Financial will boost its team and technology, which it said in a press release will allow financial institutions (FIs) and other customers to scale

Report 108
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The 2018 Fintech conferences not to miss

Bobsguide

Conferencing is a key part of the fintech industry and the only way to stay up to date with the ever quickening pace of technological change in your sector. This list provides you with all the dates, prices and event bios all in one, handy place. Be sure to bookmark this page as we will.

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International Payments Group Champions Faster Cross-Border Payments

PYMNTS

Individual jurisdictions around the globe are pressing for both faster and more efficient cross-border payments. China’s central bank, for instance, took steps last month to boost the efficiency of cross-border transactions involving Chinese parties by lengthening its clearing window time span. In the U.S., Same Day ACH became a reality in 2017 after the National Automated Clearing House Association (NACHA) introduced its faster payments infrastructure to the market.

Groups 108
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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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FinCEN Final Rule: Four data management challenges

Bobsguide

The Final Rule brings with it a raft of regulatory compliance challenges for financial institutions. While its intention is to promote “uniformity and consistency” to “strengthen the system as a whole by further limiting opportunities for inconsistent application of unclear or.

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Entersekt Joins Forces With ForgeRock ID Network

PYMNTS

Entersekt , the mobile-first authentication and eCommerce enabling company, announced news on Tuesday (Feb. 20) that it has joined the ForgeRock Trust Network as a principal technology partner. In a press release, Entersekt said its mobile app security, authentication and digital signing technology is now available to ForgeRock’s customers. ForgeRock, said Entersekt in the press release, is a provider of identity and access management solutions to a wide range of industries, including financial

America 108
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Google Pay plants roots for a much-needed social element in Android Pay

Payments Source

Google launched its Google Pay app for Android devices Tuesday, probably confusing millions of people globally who already used Android Pay. But the change is more than just in the branding.

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What The Climbing Debt Defaults Really Mean For The Economy

PYMNTS

By many measures, the economy looks strong. The stock market — despite a fairly steepWh correction a week ago — is still well ahead of where it was a year ago and is trending up. Unemployment is at historic lows, wages are rising given the tight labor market and consumer spending has been keeping pace. Dig in a bit deeper, however, and the numbers become a bit less confidence-inspiring, since the bulk of that consumer spending is being done on credit, as household debt is skyrocketing.

Lending 105
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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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After years of securing data, Rambus eyes mobile payments

Payments Source

Rambus has provided the data technology under the hood of Nintendo and PlayStation games since the 1990s, and later became a global token service provider. The next logical progression is mobile payments.

Mobile 65
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STACK Taps i2c For Mobile Payments

PYMNTS

To enable payments through its app and prepaid Mastercard, STACK has tapped i2c as its payments processor. The move will help STACK build and scale its personalized payments functionality, i2c said in an announcement. By using i2c’s payments processing platform, STACK will allow its members to make purchases anywhere Mastercard is accepted, including in stores and online.

Mobile 102
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02.20.18 Your morning briefing

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: London's mayor lobbies for soft Brexit; Ingenico goes contactless to boost charities; Swiss regulator updates authentication rules; A new cryptohack attacks Ethereum.

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UK Watchdog Wants Banks To Change Push Payments Fraud Strategy

PYMNTS

U.K. consumer watchdog Which? is calling for better protections against push payment scams, according to reports. A press release by Which? issued Monday (Feb. 19) warned that Authorized Push Payment (APP) fraud is on the rise. The watchdog is calling for change in how banks handle this type of crime when it affects their customers. Push payment fraud occurs when a business or individual is coaxed into sending money for seemingly legitimate invoices when a scammer requests payment.

Fraud 101
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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.