Chris Skinner
AUGUST 23, 2017
Following on from the discussions of The Wizard of Oz being a political allegory and rally cry against Wall Street and capitalism, did you realise that the boardgame Monopoly is the same, as in a game meant to illustrate the evils of capitalism? If not, then this article by Kate Raworth, … The post Monopoly was invented to demonstrate the evils of capitalism appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 23, 2017
A representative of Fosun Group, which, at $13.1 billion, is China’s largest private investment conglomerate, has confirmed that it has invested “tens of millions of yuan,” or multi-millions of US dollars, into a Shanghai-based startup responsible for a local blockchain technology platform. This company, known as Onchain, was founded in Shanghai in 2014.
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PYMNTS
AUGUST 23, 2017
Being connected via modern technology is something that’s becoming an expectation among consumers. From groceries to home buying, back-to-school shopping and more, there doesn’t seem to be many facets of everyday life that aren’t intricately connected to help provide an enhanced experience for consumers. One of the latest industries to start exploring in connected technologies are banks.
Bank Innovation
AUGUST 23, 2017
EXCLUSIVE— Contactless, cashless payments are on the rise in retail, driven forward as payment companies like Mastercard and Visa increase support for these solutions. This is according to Steve Herbert, CEO and Chairman for USA Technologies during the company’s most recent quarterly earnings, reported yesterday. USA Technologies, a payments company, has a market capitalization of […].
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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
Abrigo
AUGUST 23, 2017
“When considering member business lending and the consumer portfolio where many credit unions focus, change management to prepare for CECL can be even more difficult with a credit union,” says Danny Sharman, risk management consultant at Sageworks during a recent CECL webinar – Data Quality for Credit Unions. “The first thing credit unions can do to prepare is begin collecting data on multiple segmentations.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
AUGUST 23, 2017
The Emerging Markets Payment Index is intended to be used by digital media companies, web and game developers for benchmarking their revenue in markets with high smartphone growth and low credit card penetration.
Bank Innovation
AUGUST 23, 2017
Artificial intelligence is making its way into the messy world of account receivables for those corporates processing large volumes of payments, thanks to Bank of America Merrill Lynch and fintech startup, High Radius. The “Intelligent Receivables” solution is designed to streamline the receivables process, using AI technology developed by High Radius to fill in the […].
PYMNTS
AUGUST 23, 2017
The restaurant industry is a notoriously difficult market to crack, not least of all because of narrow margins, among other factors. With that in mind, you may think restaurants would be slow to adopt new technology, but in today’s market, it’s quite the opposite. Kristi Turner, chief marketing officer of Compeat , a company that provides back-office management software for the restaurant industry, says it’s actually quite rare that restaurants today would not be using some type of restaurant ma
Bank Innovation
AUGUST 23, 2017
It’s the 21st century marketing mantra: Never underestimate the power of ‘smart.’ We have ‘smart’ phones, ‘smart TVs’, a ‘smart’ doorbell and yes, even a ‘smart’ dishwasher. What about ‘smart’ authentication? Multifactor authentication strategies, while rising in popularity continue to be dogged by the tradeoff of usability and security. In other words, if authentication solutions […].
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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 23, 2017
Millennials get a bad rap for everything from being unable to commit to a job to jeopardizing the cereal market. But, here’s a bit of good news coming out of travel and expense management company Concur: Businesses that have millennials in their workforces may actually save money — at least when it comes to business travel. A recent report from Concur, published last week, analyzed $36 billion worth of travel spend across dining, entertainment and hotel expenses.
Bank Innovation
AUGUST 23, 2017
China Citic Bank and search engine Baidu got the greenlight to go forward with their joint online banking venture. The venture received regulatory approval from the Chinese authority Tuesday. The digital bank, which is called aiBank, will offer deposits and loans to individuals and small businesses. The bank will be exclusively online, according to reports, […].
PYMNTS
AUGUST 23, 2017
As Australia continues its probe into small business banking, reports this week said small- and medium-sized businesses (SMBs) may have scored a win as banks agreed to cut unfair terms from their contracts. The Sydney Morning Herald reported Wednesday (Aug. 23) the Australian Securities and Investments Commission (ASIC) and the Australian Small Business and Family Enterprise Ombudsman have proposed rules for the country’s banks, and the banks have accepted.
Bobsguide
AUGUST 23, 2017
Madhur Jain, Global Head, Pre-Sales at SunTec Business Solutions, is one of the fintech industry’s most insightful analysts on the subject of digitalization of banks and the shift to omnichannel retail banking solutions. Madhur sat down with bobsguide last month to speak about the need for.
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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 23, 2017
When PYMNTS spoke to Orit Hashay, Israeli startup Brayola’s CEO and founder, she explained how she came to have a very unique vision in the world of commerce. After all, she’s responsible for building something that’s been called both “the OkCupid of bra shopping” and “the world’s first social network for boobs.”. Now, of course, when it comes to the “world’s first social network for boobs,” you can fill in your own joke — trying 4chan was our suggestion at the time
Payments Source
AUGUST 23, 2017
With the right focus and a little bit of pre-work, many companies can leverage ISO 20022 as the new global standard, writes Kate Risch Choi, a senior product manager for treasury and payment solutions at BMO Harris Bank.
PYMNTS
AUGUST 23, 2017
You there, corporate decision-maker. Are you ready to respond to a cyber threat? How confident do you feel in your ability to handle and mitigate the situation? If the answer is “not very,” you’re in good company. Recent research by San Francisco-based cyber security company RiskIQ , aggregated in the company’s 2017 State of Enterprise Digital Defense Report , shows 68 percent of corporate decision-makers have little to no confidence in this area.
Insights on Business
AUGUST 23, 2017
In the wake of the 2007-2008 financial crisis, analysts were quick to point out that compensation plans which rewarded employees for taking excessive risk were among the many factors that lead to the financial crisis. To avoid a repeat of similar economic downturns, regulators are taking a close look at excessive risk taking in the financial sector, requiring key players to provide transparency around employee compensation.
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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 23, 2017
Business intelligence company CubeLogic has announced its support for Trade Credit Insurance as part of an overall risk mitigation strategy. The company recently reported news it had rolled out the latest version of its RiskCubed platform, version 6.0. RiskCubed supports Trade Credit Insurance, a tool CubeLogic said is growing, especially for players in the energy space.
Let's Talk Payments
AUGUST 23, 2017
As a FinTech and startup aficionado, we already know the three Chinese giants, most commonly referred to as BAT: Baidu, Alibaba, and Tencent. All of us have read about the.
PYMNTS
AUGUST 23, 2017
Since 1962, Walmart has been the de facto discount grocery chain of choice for many across the United States. While the retailer’s tagline was “Always Low Prices” for decades, it changed it to “Save Money. Live Better” in 2008. This change in messaging was likely to help the retailer transform itself to be more competitive with eCommerce companies like Amazon.
Let's Talk Payments
AUGUST 23, 2017
MEDICI now! Startup Stories highlights the companies that are shaping the new financial technology industry. Keep an eye out each week for new stories! If you or someone you know.
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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 23, 2017
Cloud-based software firm Tulip Retail , which provides a mobile app suite for store associates in retail settings, has raised $40 million in its latest funding round. The round was led by American venture capital firm Kleiner Perkins Caufield & Byers. During its four years in business, Toronto-based Tulip has grown its client list to include retail chains such as Saks Fifth Avenue , Toys “R” Us and Coach , among others.
Bobsguide
AUGUST 23, 2017
Ian Hermon, Product Marketing Manager, Thales e-Security. Last month, the British Retail Consortium (BRC) revealed debit card purchases had overtaken cash for the first time, with more than half of retail transactions now being made on our favourite pieces of plastic. Thanks to more and more.
PYMNTS
AUGUST 23, 2017
Retailer Kohl’s will boost both its brick-and-mortar and eCommerce capabilities this year by adding four small-format, brick-and-mortar locations to its roster of stores and a fifth eCommerce fulfillment center. The firm expects to have these new outlets up and running by the third quarter as part of its plan to optimize select retail locations nationwide.
Payments Source
AUGUST 23, 2017
Mobile wallets and digital payments apps are erasing the distinction between credit and debit, but many issuers still cling to old practices that treat those audiences differently. SunTrust is working to change that.
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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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