Bank Innovation
AUGUST 3, 2017
INV Fintech, this site’s sister accelerator that is run in association with Fiserv, is announcing three new members of the current class. These companies are joining at the Associate level, and will go through a slightly less intensive program than the class’s full members, but will still interact with Fiserv, the partner financial institutions, and […].
Payments Dive
AUGUST 3, 2017
Initially hailed as innovative, it appears that Visa's 'war on cash' is in reality a war on merchant profitability and customer payment choice. However, a 'war on plastic' is a promising business case that could actually be sold to merchants.
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Bank Innovation
AUGUST 3, 2017
Payworks is bringing Chinese payment service AliPay to the European point-of-sale. The POS payment gateway provider has partnered with Ant Financial in order to integrate the AliPay service with European acquirers, the companies announced today. This marks an expansion for AliPay in Europe. It first arrived on the continent in 2015. With the partnership, AliPay will […].
Chris Skinner
AUGUST 3, 2017
I had an interesting experience in Lebanon recently, where the accepted currency is the Lebanese pound or the US dollar. In fact, the US dollar is preferred as, since the civil war in the country, they Lebanese pound has been tied to the US dollar at 1500 Lebanese pounds per … The post The US dollar is no longer American appeared first on Chris Skinner's blog.
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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
AUGUST 3, 2017
Square is competing with friends and family, not financial institutions, to grow its lending arm, Square Capital. The payments processing startup grew loans at Square Capital by 68% year-over-year this quarter, according to CEO Jack Dorsey on the company’s earnings call yesterday. This figure represents $318 million in loans to almost 50,000 sellers on the […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
AUGUST 3, 2017
The Office of Comptroller of the Currency, which held office hours through its Office of Innovation in New York last week, might be in over its head. The office received a large volume of meeting requests, but could conduct meetings with only a fraction of those applicants. “It seemed that the OCC was surprised with […].
Abrigo
AUGUST 3, 2017
The FDIC paper The Entry, Performance, and Risk Profile of De Novo Banks published in April 2016 reports that the number of de novo bank failures and acquisitions annually has drastically declined since 2010, primarily due to the fact that new bank formations have become nearly inexistent. Cheryl Monk, a writer in New York, reviews the de novo environment in her article published in the July 2017 issue of Independent Banker.
PYMNTS
AUGUST 3, 2017
For years, we’ve seen suburban shopping malls build up and expand out. A favorite pastime for many teenagers growing up in the ’70s, ’80s and ’90s was known as “mall ratting,” in which parents drop kids off to hang out. For hours on end, these teens would roam the mall in search of new clothes or spend time with friends in the food court. With big department stores, which are the backbone of most malls, like J.C.
Let's Talk Payments
AUGUST 3, 2017
PSD2 is the directive that is deeply changing the financial system, especially in the payment services segment. It not only affects banks and payment service providers but also companies that.
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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
AUGUST 3, 2017
Fraudsters are good at what they do. Payments got faster, but so did criminals. Banks built more defenses, and bad guys jumped over them with glee. But Uri Rivner, BioCatch co-founder, head of cyber strategy and vice president of business development, said in a recent webinar with PYMNTS’ Karen Webster that things are getting better — and the U.S. has a chance to learn from the U.K.’s mistakes.
Let's Talk Payments
AUGUST 3, 2017
About 20 years ago, when Jeff Bezos took Amazon public, he told his shareholders that delivering the best customer experience was his primary objective – even if it came at.
PYMNTS
AUGUST 3, 2017
The faster payments get, the less tolerable waiting becomes for customers, businesses and other financial players. But in late July, one of the biggest waits in the payments industry came to an end. The August Faster Payments Tracker™ , powered by NACHA , highlights notable news and developments from across the faster payments landscape, including coverage of the long-awaited release of the Federal Reserve’s Faster Payments Task Force report on how to improve the U.S. faster payments system, ef
Bobsguide
AUGUST 3, 2017
bobsguide sat down with Anders La Cour, CEO of Saxo Payments, to discuss the key takeaways from the company's latest whitepaper Cross Border Payments for Cross Border Merchants – An Internationally ‘Local’ Future, which was published at Money20/20 Europe.
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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
AUGUST 3, 2017
New data from insolvency firm Begbies Traynor may set off alarm bells: The number of U.K. businesses considered to be in “significant” financial distress has spiked. A report released from the company this week found a 25 percent year-over-year increase in the number of companies categorized as being in significant financial distress in Q2, the largest yearly increase the firm has seen in three years, it said.
Payments Source
AUGUST 3, 2017
Global Payments hasn't hesitated to shell out huge dollars if it provides a quick-strike opportunity to pair technology with multichannel payments in markets where such marriages remain rare.
PYMNTS
AUGUST 3, 2017
Retail is undergoing a transitional time and merchants are starting to implement more innovative ways of attracting consumers. One of the latest companies looking to take a new approach to reaching consumers in a more convenient fashion is Japan-based clothing retailer Uniqlo with the launch of its vending machines. What makes this offering unique is that these vending machines will dispense clothing items for those on-the-go consumers looking for las- minute items to help with unexpected weathe
Payments Source
AUGUST 3, 2017
Four months after partnering with linked2pay's Bank Centric Payments platform, ICBA Bancard says it will support real-time posting of payments for community banks and their small business customers.
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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
AUGUST 3, 2017
Volvo USA — in partnership with the international payments experts at Flywire — is announcing a new program that will, among other things, make it easier for international students studying abroad in the States to lease (and pay for) a new vehicle to drive. The agreement between the firms will make it easier for the Volvo USA sale organization to support international receivables from said global students.
Payments Source
AUGUST 3, 2017
Shopping and paying for goods with a smartphone or tablet has been a staple of modern consumerism for years, but mobile wallet adoption is just at its early stages, writes Lisa Stanton, president of InAuth.
PYMNTS
AUGUST 3, 2017
Accounts payable company MineralTree just gave a big show of support for commercial cards when it announced this week it is partnering with American Express (Amex) to offer companies an integrated platform to support supplier payments via virtual commercial card. But cards are a rarity in B2B payments, and even rarer in accounts payable (AP) compared with other segments of the space like corporate travel.
Payments Source
AUGUST 3, 2017
A popular person-to-person payments app in Italy is getting the backing of Intesa Sanpaolo Bank to become an option at the point of sale in more than 150 retail stores in Milan, Rome and Turin.
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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
AUGUST 3, 2017
Due to regulatory uncertainty, Standard Chartered will not restart dividend payments. The U.K. bank made the announcement this week while reporting on its half-year finances. According to India-based Standard Chartered, the bank saw an 82 percent increase in H1 profits, but it wasn’t enough to encourage the bank to begin paying its investors. “Unfortunately the capital certainly has not improved,” said Bill Winters, chief executive at Standard Chartered, according to news repor
Payments Source
AUGUST 3, 2017
Germany-based Payworks is the latest to partner with Ant Financial’s Alipay as it works to expand the base of merchants capable of accepting the popular Chinese online and mobile payments app in Europe.
PYMNTS
AUGUST 3, 2017
Robotics have been a reality in corporate America for decades, but can the same robotic arm that helps assemble appliances in a factory build your next burger? And, do you really want your burger built ? David Zito, co-founder and CEO of Miso Robotics, thinks so. The company is the creator of Flippy, a line of robotic, AI-enabled kitchen assistants that does what its name suggests — flip burger patties.
Payments Source
AUGUST 3, 2017
Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Politics may impact Ant/MoneyGram deal; First Data extends sports branding; Singapore forms payments committee; Ransomware's severe impact on small business.
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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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