Bank Innovation
OCTOBER 11, 2017
EXCLUSIVE— It’s no secret that banks don’t move all that fast when it comes to new innovations, but most are starting to match fintechs at the customer experience level, according to Verizon, which provides software and internet connectivity to much of the industry. But the internal systems of traditional financial institutions are a different story. […].
Chris Skinner
OCTOBER 11, 2017
I blogged about the FinTech themes that came out of the Celero conference the other day and forgot to mention that I recently joined a one-day retreat at Payments International in London, as a facilitator. I don’t do such intimate work very often, where I sit with a few people … The post Five more FinTech themes … appeared first on Chris Skinner's blog.
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Bank Innovation
OCTOBER 11, 2017
Insurtech Lemonade has opened its platform “to the world,” as stated by company co-founder Shai Wininger. The company, which provides quick and easy home insurance via mobile, will now allow developers to access their platform through the Lemonade API. This will allow developers to add Lemonade Insurance alongside their main products, according to the company. […].
PYMNTS
OCTOBER 11, 2017
Based on the activity of the past few weeks, it seems API-based solutions are becoming more at home on mobile devices as various companies launched several app-based solutions to expedite cash flows in different global markets. These developments could offer help to consumers, executives, entrepreneurs or freelancers as they conduct their own types of business.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Bank Innovation
OCTOBER 11, 2017
A majority of American consumers want to do their banking online, and think that physical financial institutions are moving to their end as well as agree that larger banks don’t innovate fast enough for new customer needs. But, that majority still won’t leave their bank for a younger fintech model, according to the 2017 Annual […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
OCTOBER 11, 2017
EXCLUSIVE – A new partnership with pan-European payment infrastructure provider EBA Clearing will help push financial services company SWIFT forward in its expansionary goals for its instant payment network provider, SWIFTNet Instant. On Tuesday, SWIFTNet announced that users of EBA Clearing’s instant payment system, RT1 will be able to access the system using SWIFTNet Instant.
PYMNTS
OCTOBER 11, 2017
A survey of business travelers conducted by the Global Business Travel Association suggests administrative tasks are only half the battle of taking a business trip. The GBTA released the results of its survey Tuesday (Oct. 10), and while administrative tasks like approvals and expensing were certainly on the list, the number-one pain point for business travelers is the time spent in transit, cited by 61 percent of 630 survey respondents as a top-five challenge.
Bank Innovation
OCTOBER 11, 2017
Danske Bank said Wednesday that it will shut down its MobilePay app in Norway and instead use rival DNB Bank’s Vipps service. Vipps started gaining momentum over MobilePay after a February deal between DNB and 100 local banks to acquire a 48% stake in the mobile payments services and then spin it off as an […].
PYMNTS
OCTOBER 11, 2017
Think you can’t teach an old finance dog new tricks? Think again. Diebold has been around since 1859, when it was founded as a manufacturer of safes, vaults and locks. In those early years, the company’s safes were some of the only ones to withstand the Great Chicago Fire of 1871, and the company was commissioned to build the world’s largest safe for Wells Fargo’s San Francisco branch in 1874.
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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 11, 2017
Despite the growing popularity of cryptocurrencies like bitcoin, there is evidence that younger investors are still more drawn to traditional methods of investing and trading, at least according to Vlad Tenev, co-founder of Robinhood. Robinhood allows users to trade stocks via mobile, a proposition that has proved particularly engaging for younger investors: 78% of the […].
PYMNTS
OCTOBER 11, 2017
Though digital and contactless payments are on the rise worldwide, cash usage is still a reality. In fact, a recent survey of approximately 50,000 convenience stores in the U.K. found cash to be the dominant payment method in the region, with more than 75 percent of all transactions there still paid in cash. And Europe, in general, seems to be following that trend.
FICO
OCTOBER 11, 2017
Note: This is an edited version of an article I wrote for RT Insights. I’m convinced we are entering the Golden Age of artificial intelligence (AI); with so much promise and potential in front of us, I am feeling a little like Neo in The Matrix as he swallows the red pill. (Alert: more Matrix analogies ahead.). However, rather than science fiction, my recent work at FICO to make AI better has drawn upon my background in theoretical physics to create what we call defensive AI.
PYMNTS
OCTOBER 11, 2017
JPMorgan Chase & Co and Temasek Holdings are reportedly the lead investors in a funding round that raised $100 million for Bill.com. According to a report in Reuters , citing Bill.com — a firm which helps businesses make digital payments — existing investors also participated in the round. The company plans to use the proceeds to expand its distribution, Reuters reported. .
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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 11, 2017
Billy Bosworth, CEO of DataStax, sat down with bobsguide to talk about the past, present and future of data challenges and how a bit of forward thinking can stave off the worst of regulatory compliance. How did you come to work for DataStax? 25 years ago, I started out with a computer.
PYMNTS
OCTOBER 11, 2017
Even with the growth of contactless and digital payments in Western and Eastern Europe, cash continues to cut itself a lion’s share of the payments pie — at least, when it comes to retail transactions. With 75 percent of POS transactions being powered by cash, consumers clearly know what they like. But does that mean cash will forever continue to be atop the wallet heap?
Let's Talk Payments
OCTOBER 11, 2017
In October, in addition to its resident startups, the Google Space Campus São Paulo will house a group of FinTech startups selected for the first edition of Campus Latam Exchange.
PYMNTS
OCTOBER 11, 2017
Small business (SMB) lending is big business for community banks , which are a popular destination for small business borrowers, thanks to strong approval rates on loan applications. But new analysis from the Federal Reserve has identified a reversal in community banks’ position in the small business lending market. The “ Community Banking in the 21st Century ” report, released by the Federal Reserve and the Conference of State Bank Supervisors last week, surveyed more than 600 community banks a
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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.
Let's Talk Payments
OCTOBER 11, 2017
It appears I haven’t fully realized that the future is here until the news on EEG being applied to reinvent shopping popped up. While it’s still early – experimental –.
PYMNTS
OCTOBER 11, 2017
Tipalti has caught a few bad guys lately — 7,400 of them, to be exact. The San Mateo startup recently announced the addition of a new fraud monitoring module, Tipalti Detect, to help eliminate accounts payable fraud risk. Tipalti Detect stopped those 7,400 payments throughout its six-month beta phase and first week live, eliminating an estimated $4 million in fraud losses for Tipalti’s customers, according to reports from Rob Israch, the startup’s CEO, during his October check-in with PYMNTS.
Let's Talk Payments
OCTOBER 11, 2017
In an age where collaboration is key for success in the financial services industry, banks and technology providers are looking to build deeper relationships with FinTechs. The task at hand.
PYMNTS
OCTOBER 11, 2017
As if it wasn’t enough to deliver packages to millions of consumers’ homes, Amazon is now reportedly working to deliver packages to shoppers’ cars. According to a news report in CNBC citing a source with knowledge of the deal, Amazon is in advanced discussions with Phrame, the maker of smart license places, to ink a partnership that would enable the eCommerce giant to deliver packages to customers’ trunks.
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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.
Bobsguide
OCTOBER 11, 2017
One of the many conveniences of banking today is that it’s largely self-service. Customers manage a growing number of transactions at an ATM, use their phones to check balances, pay bills, move money and organise their finances, all without having to go into a branch or interact with a.
PYMNTS
OCTOBER 11, 2017
The Independent Community Bankers of America (ICBA), the trade group for community banks, is calling on the Federal Deposit Insurance Corporation (FDIC) to deny a federal deposit insurance application by payment terminal company Square. In a press release announcing the news, the trade group contends, in a letter to the FDIC, that Square ’s application as an industrial loan corporation, or ILC, aims to get around legal prohibitions and restrictions under the Bank Holding Company Act.
Payments Source
OCTOBER 11, 2017
Ripple announced several new customers Tuesday. The startup says its software, designed to compete with Swift, allows banks and others to send cross-border payments more quickly, transparently and cheaply.
PYMNTS
OCTOBER 11, 2017
Cross-border payments aren’t easy. They can be costly, time-consuming and fraught with risk. Banks that power international payments must satisfy the regulations and standards on both ends of the transaction, but while also protecting the transacting parties and the funds moving between them. Toronto-based technology startup nanopay aims to make the whole process easier — and more secure.
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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.
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