Payments Dive
OCTOBER 1, 2019
The changing nature of consumers in recent years is raising major questions regarding privacy, loyalty and perceived value in the banking industry, according to a panel of experts at the 2019 Bank Customer Experience Summit.
Chris Skinner
OCTOBER 1, 2019
I don’t get The Financial Times editorials these days. Last month, they published a ridiculous article about challenger banks eating the banker’s lunch – which I covered here as being the crumbs off the table of the banker’s lunch – and this month, they publish a totally contrary view that the … The post Are challenger banks winning or losing?
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Bank Innovation
OCTOBER 1, 2019
Gulf Capital Bank, Houston’s first new bank to launch since 2009, will open its doors by early next year. It confirmed on Monday that it received conditional approval from the Texas Department of Banking and the Federal Deposit Insurance Corporation. Ed Jones, chairman and CEO, told Bank Innovation that the new institution will focus on […].
Payments Dive
OCTOBER 1, 2019
This paper describes the innovation and best practices the financial sector has deployed across technologies, processes, and people in their contact centers.
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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
Chris Skinner
OCTOBER 1, 2019
Things we’re reading today include … Visa, Mastercard reconsider backing Facebook’s Libra: WSJ Too big to lend? JPMorgan cash hit Fed limits, roiling U.S. repos ‘Depressing’ gender pay gap widens in fund management firms UBS economist reinstated after China ‘pig’ comments Credit Suisse rocked by suicide as spy scandal deepens … The post Things worth reading: 2nd October 2019 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 1, 2019
In the next 10 years, as robots and other tech bring about the “greatest transfer from labour to capital” the industry has witnessed, per a report by Wells Fargo analysts, U.S. banks will slash over 200,000 jobs. Veteran Wall Street Analyst Mike Mayo noted that cuts of such magnitude would comprise over 10 percent of total bank jobs, and pave the way for a “golden age of banking efficiency,” the Financial Times reported.
Payments Dive
OCTOBER 1, 2019
This whitepaper highlights 5 myths frequently encountered in the context of self-service strategies and implementation.
PYMNTS
OCTOBER 1, 2019
With “URGENT/11” possibly introducing risks for medical devices and hospital networks if exploited by a remote attacker, the U.S. Food and Drug Administration is informing patients, manufacturers and IT staff in health care facilities about the cybersecurity vulnerabilities. URGENT/11 impacts multiple operating systems that then may affect medical devices connected to a communications network in addition to other connected equipment, the agency said in a press release.
Bank Innovation
OCTOBER 1, 2019
As challenger banks target Generation Z, Dallas-based Southwest Airlines Credit Union is looking to members’ children to promote digital financial literacy. In July, it rolled out the Ace Jr. app, which lets parents set up accounts for their kids and teach them personal finance basics. Since it launched the app, the credit union has seen […].
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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
PYMNTS
OCTOBER 1, 2019
There are many ways a firm can measure the value of instant payments, and determine how much of a return on investment (ROI) it can expect to reap. A firm can look at it in terms of how much it will save by stepping away from the costly and inefficient world of paper checks, or it can evaluate in terms of the auxiliary services and features it will be able to offer to its customers, and potentially monetize in the future.
Bank Innovation
OCTOBER 1, 2019
Ally Bank has confirmed the completion its acquisition of Health Credit Services, a Charlotte-based tech company that partners with medical providers to offer patients financing for products and services that aren’t covered by insurance. The bank acquired the company for $190 million, according to Ally. The move is of two-fold importance for digital-only Ally: it […].
PYMNTS
OCTOBER 1, 2019
Fifty-four faster payment schemes — and counting. Real-time payments are on the radar for most banks, and the opportunity is there to grow top lines and cement customer relationships. To that end, said Craig Ramsey, head of real-time payments at ACI Worldwide , in an interview with PYMNTS, the approach a financial institution (FI) takes toward faster payments at the beginning, and at the highest strategic level, matters — quite a bit.
Payments Source
OCTOBER 1, 2019
Mastercard has developed a service called Threat Scan to help card issuers get ahead of fraudsters by running scans on their card authorization systems based on the latest evolving global card scams.
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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.
PYMNTS
OCTOBER 1, 2019
EMV seems to be that payments issue that just won’t go away, but not in the U.S., where at least one vital and robust sector of commerce has yet to adopt the global security standard en masse. We are talking about gas stations and convenience stores, with their EMV liability shift pushed back to Oct. 1, 2020 — at one point, the deadline was in 2017.
Payments Source
OCTOBER 1, 2019
overnments use varying methods for tracking the flow of money in and out of the country in order to deter fraud and money laundering, writes Nvoicepay's Alyssa Callahan.
PYMNTS
OCTOBER 1, 2019
More than a year after Fitch Ratings raised concerns about a “loophole” allowing corporates to obtain supply chain financing without classifying it as debt, Moody’s has issued its own warning over the financing solution. In a recent announcement , Moody’s Investors Service concluded that supply chain finance, also known as reverse factoring, has the potential to weaken liquidity and limit visibility for investors and shareholders.
Payments Source
OCTOBER 1, 2019
Tennessee-based Tractor Supply Co. originally sold farming tools by mail, but digital technology has put the expanding 81-year-old company at the forefront of loyalty marketing.
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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.
PYMNTS
OCTOBER 1, 2019
The global threat of fraud shows no signs of slowing down. Losses related to fraud are valued at $14.7 billion, according to the most recent DataVisor Fraud Index Report. As fraudsters become increasingly aggressive, new global regulations and solutions are being deployed to keep consumers, merchants and banks safe. In the latest Digital Fraud Tracker, PYMNTS highlights the fraud trends and patterns that regulators are closely monitoring, as well as the solutions — including artificial intellige
Payments Source
OCTOBER 1, 2019
The information you need to start your day, from PaymentsSource and around the web. Today: Instagram extends shopping technology; Amazon Go considers movie theaters; J-Coin adds retailers; France releases e-invoice rule; Drive through worker snaps debit card pics.
PYMNTS
OCTOBER 1, 2019
A new report by the Federal Trade Commission (FTC) has revealed that millennials are 25 percent more likely to report losing money to fraud than consumers ages 40 and over. The FTC’s latest Consumer Protection Data Spotlight shows that millennials (ages 20-39) are twice as likely to report losing money to online shopping fraud than their older counterparts.
Payments Source
OCTOBER 1, 2019
A shared cart that carries a consumer’s preferred form of payment throughout their purchase journey, regardless of which channel they begin and end with, can be a real differentiator for retailers.
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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.
PYMNTS
OCTOBER 1, 2019
The Federal Aviation Administration (FAA) announced that the United Parcel Service (UPS) has won the first-of-its-kind air carrier and operator certification to an unmanned aircraft system (UAS, or drone) delivery company, UPS Flight Forward. “This is a big step forward in safely integrating unmanned aircraft systems into our airspace, expanding access to healthcare in North Carolina and building on the success of the national UAS Integration Pilot Program to maintain American leadership in unma
Payments Source
OCTOBER 1, 2019
Oak HC/FT is the lead investor in a $100 million round in Rapyd, a company that’s designed to serve a complex international supply chain.
PYMNTS
OCTOBER 1, 2019
If you really want to understand human nature — really gain a deep sense about how people operate, and where they want to go — you could do worse than to study maps. They can show how people thought about the world, and how they pushed at the frontiers of known lands. Maps can teach us about how we live now and what changes are in store. All you need is the proper mapping technology, enough knowledge and a reasonable dose of imagination — maps will show you much, much more than how to get from p
Payments Source
OCTOBER 1, 2019
Some bank customers would consider switching banks for the status of having a metal card in their wallet. Others are willing to compromise by converting their cards to metal on their own.
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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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