Fri.Feb 19, 2021

A note from the editor

Mobile Payments Today

This isn't an ending: it's a whole new beginning

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BitPay CEO: Institutional Activity Creates New Era For Bitcoin

PYMNTS

We’ve seen it all before, right? Bitcoin at $20,000 seems so … 2020. We’re at $50,000 now and counting, and 2021 is barely a month and a half old. And next month, it may drop. The month after that, it may swing up again.

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This Week in Fintech ending 19th February 2021

Daily Fintech

This week our experts brought you the following insights based on their experience as investors, entrepreneurs & executives.

Bitcoin Smashes New Records With Valuation Topping $1 Trillion

PYMNTS

The cryptocurrency craze has topped new records, with bitcoin’s market valuation surpassing $1 trillion, according to a CNBC report on Friday (Feb. Bitcoin traded at almost $54,000 per coin on Friday, up more than 3 percent over the previous day and more than 350 percent over the past six months.

Realizing the Benefits of Automated Machine Learning

How are organizations using machine learning and artificial intelligence (AI) to derive business value? Renowned author and professor Tom Davenport explains the rise of automated machine learning, its benefits, and success stories from businesses that are already using it.

Google Pay uses Maps and transportation to keep consumers in-app

Payments Source

Transit and parking draw new users to mobile wallets, and Google is expanding both features to add use cases for its payment app. Mobile payments Google Pay Apple Pay Mastercard

More Trending

Fintech seeks ILC to be one-stop banking resource for startups

Payments Source

Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider. FDIC ILCs Fintech Licenses and charters

JP Morgan: Bitcoin Escalation Not Sustainable 

PYMNTS

The recent price escalations of the digital currency bitcoin make it a shaky long-term investment, J.P. Morgan said in a memo, Reuters reported on Friday (Feb.

Bitcoin climbs above $52,000 as Musk backs crypto over cash

Payments Source

Billionaire Elon Musk defended Tesla Inc.’s billion Bitcoin investment on Twitter, calling the cryptocurrency a “less dumb” version of cash. Digital payments Bitcoin Cryptocurrencies

No Remittance Data Means Lots Of B2B Payments Friction

PYMNTS

For all of the talk of accelerated digitization and modernization of the enterprise over the past year, corporates still face plenty of friction in their business-to-business (B2B) payment workflows.

Data 195

The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

WeChat Pay parent Tencent raises $8.3 billion

Payments Source

Twelve banks joined the Tencent financing deal, which initially had a $6 billion size. Tencent China WeChat

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AI: The Glue That Binds FIs' Fraud Prevention Systems

PYMNTS

Digital fraud has been on the upswing as the global health crisis continues, with losses due to pandemic-related scams like fraudulent Paycheck Protection Program (PPP) loans or the impersonation tax officials topping $100 million by August alone.

Fraud 195

The pandemic has made supply chain agility job one

Payments Source

The uncertainty and changeable environment requires lots of options, says Ivalua's Arnuad Malarde. Banking Risk Digital payments B-to-B payments

Robinhood Retail Stock Trade Surge Spotlights Need For Digital ID Verification

PYMNTS

If there’s one trait that most business executives share, it’s a love of predictability. Volatility is an enemy of most banking professionals, but they sure have their share of it these days.

Retail 192

How to Choose an AI Vendor

This report explores why it is so challenging to choose an AI vendor and what you should consider as you seek a partner in AI.

NCR Acquires Terafina – So What?

Gonzobanker

Acquisition of digital origination provider Terafina reads like a good add for NCR. The pandemic continues to grow demand for digital self-service capabilities.

Q4 2020 eCommerce Sales Rose 32 Pct Over 2019

PYMNTS

Fourth-quarter eCommerce sales in 2020 topped out at almost $207 billion, a 1.2 percent drop from the third quarter, but up 32.1 percent compared to the same period in 2019, the Census Bureau of the Department of Commerce reported on Friday (Feb.

Report 186

Coming clean about money laundering

ATM Marketplace

Money laundering is a profitable game for criminals but what can financial institutions do to combat it?

ATM 87

ReverseLogix Secures $20 Million To Ease The Pain Of Returns For eRetailers

PYMNTS

The last mile can often be the most taxing — and in logistics, customers' expectations continue to intensify when it comes to shipping and delivery.

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Should You Be Choosing A Home Loan Balance Transfer?

BankBazaar

If you’re planning to do a Home Loan balance transfer, here are a few factors you should bear in mind before you arrive at a decision. A Home Loan can certainly make your dream of buying a house easier but it involves taking on a financial commitment that will last for at least 15 years.

Taxes 78

Today In Payments: J.P. Morgan Says Bitcoin Escalation Not Sustainable; UK Uber Drivers Are Entitled To Benefits, PTO

PYMNTS

In today’s top news, J.P. Morgan analysts say bitcoin’s price escalations do not represent a sustainable investment, and a ruling says Uber must treat its U.K. drivers as employees, not gig workers. Plus, Stripe is said to be valued at $115 billion. Morgan: Bitcoin Escalation Not Sustainable.

Fintech seeks ILC to be one-stop banking resource for startups

American Banker

Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider. FDIC ILCs Fintech Licenses and charters

Report: Request For Payment Seen By Banks As Real Time Payments Game Changer

PYMNTS

Businesses waiting to get paid can face significant financial struggles, but immediate payment methods have helped cut out delays that saw firms waiting for checks in the mail or for funds to settle into bank accounts.

Report 166

MLOps 101: The Foundation for Your AI Strategy

Machine Learning Operations (MLOps) allows organizations to alleviate many of the issues on the path to AI with ROI by providing a technological backbone for managing the machine learning lifecycle through automation and scalability.

Santander’s CRA rating upgraded to ‘outstanding’

American Banker

The Boston-based bank said the Office of the Comptroller of the Currency gave it the highest grade possible on its most recent Community Reinvestment Act examination. Santander had received a “needs to improve” grade in 2017 and had a “satisfactory” rating in 2018. OCC Santander CRA

Today In Digital-First Banking: Bank Of America Inventors File Record Number Of Patents; Klarna Teams With Crypto Exchange Safello

PYMNTS

In today’s top digital-first banking news, Bank of America inventors filed a record number of patents, while Klarna is collaborating with cryptocurrency exchange Safello. Plus, Deutsche Bank has introduced a modern payment system for its Thailand customers to support local collections.

Bankers plead for answers from SBA on forgiving big PPP loans

American Banker

The Small Business Administration wants to vet Paycheck Protection Program loans of $2 million or more, but lenders have grown tired of waiting for months with no updates. Coronavirus Small business lending Paycheck Protection Program

Uber, Other Platforms' Changing Business Models Meet Regulatory Buzzsaw

PYMNTS

The evolution – and revolution – of the platform economy has been one where individuals find work when and where they need it. For the companies themselves, creating new, digital-first markets while keeping costs (relatively) low can streamline efforts to scale worldwide.

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.