Fri.Sep 15, 2017

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SMB Expense Management Provider Bento Snags Major Partnership with The Brink’s Compnay

Bank Innovation

EXCLUSIVE – The Brink’s Company and expense management provider Bento for Business introduced a new Travel & Expense Debit Card at Finovate in New York. The partnership is a major win for Bento, who launched only two years ago with a prepaid card for SMBs. “The Brink’s T+E card is different from our core product […].

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Bankers see faster horses; technologists imagine cars

Chris Skinner

I was chairing a conference on blockchain and distributed ledgers the other day. The audience were a mixture of start-ups and banks, and the speakers were talking about how they viewed the world of distributed ledger developments. Many of the banks had successfully complete proofs of concept projects and were … The post Bankers see faster horses; technologists imagine cars appeared first on Chris Skinner's blog.

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China Closes Bitcoin Exchanges as Prices Continue to Fall

Bank Innovation

The price of bitcoin continues to teeter today, with the cryptocurrency having lost a third of its value in the last week. Bitcoin’s sharp drop comes after rising uncertainty in the Chinese market, with two major Chinese currency exchanges, China BTC and ViaBTC, having announced that they will halt trading by the end of this […].

Bitcoin 290
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C-Speak: How merchants can protect their business from growing CNP fraud

Payments Dive

Mobile Payments Today sat down with Kount CEO Brad Wiskirchen and COO Rich Stuppy to talk about this year’s results, and about trends that are influencing the market now.

Fraud 191
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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CFPB Reassures Fintechs with Upstart Network ‘No-Action’ Letter

Bank Innovation

Online lending service Upstart Network has received a “no-action” letter from the Consumer Financial Protection Bureau, the first letter in this program to be issued by the office. The letter acts as reassurance that the CFBP will not pursue regulatory action against Upstart, which uses alternative data for lending applications, should the lender issue new […].

Lending 275

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Google’s New Payment App “Google Tez” to Launch in India

Bank Innovation

Internet giant Google will release a mobile payment service in India, according to reports. The Unified Payments Interface (UPI) app is called Google Tez, according to The IndianExpress. ‘Tez,’ in Hindi (India’s national language) means fast. The app will be launched as a part of the “Make in India” government initiative, which aims to encourage […].

Google 247
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The Beginning Of The End For Bitcoin?

PYMNTS

Bitcoin has been riding a bit of a rollercoaster in the past few weeks since hitting an all-time high of more than $4,800 per digital coin on Aug. 31. To continue the rollercoaster analogy, the cryptocurrency’s value has been on a steep climb all year, and it stands to reason that bitcoin’s skyrocketing value must eventually slow and reverse. What goes up must come down, as they say, and many are predicting that bitcoin’s time has come (or at least they’re hoping that’s the case).

Bitcoin 177
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The Future of the Financial WorkStation is Mobile, says Samsung

Bank Innovation

EXCLUSIVE—Do bank employees, Wall Street traders, or other financial professionals really need a desktop computer anymore? Samsung says, no. Rather, financial professionals should focus on the mobile phone, which is why Samsung is taking a mobile-first approach to its solutions for finance. The company demoed just such a solution that allows a user to move […].

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Three Considerations for Including Industry in Risk Rating

Abrigo

Credit analysts assign risk ratings with a focus on whether the lending institution will get its money back in full and on time. This forward view is the reason analysts will downgrade on expectations and upgrade on performance. Borrowers do not operate in a vacuum, however, and their environment is often impacted by things beyond their control. “Industry” sums up the factors of supply and demand, competition and substitution that will influence a borrower’s performance.

Industry 150
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The State of Automation in Financial Services 2024 Report

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

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Smarter Homes And Offices

PYMNTS

OK, Google. Listen up, Alexa. Playtime’s over. It’s time to step outside the smart home and begin to build the smart office. The same tools that make life easier and more efficient in people’s personal lives could just as well be applied in a work setting. There are the obvious customer service applications in retail and call centers, and these are what most people are talking about.

Google 170
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In Depth: Payments industry was (mostly) quiet this summer

Payments Dive

Mobile Payments Today takes a look back at the top stories from the past three months.

Industry 210
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Amazon Takes Territory In US And Beyond

PYMNTS

Amazon’s empire just keeps getting bigger, and although it’s conquered much digital territory, we’re actually talking about its geographical empire this time. In addition to the second headquarters Amazon plans to build in whichever U.S. city extends the best offer, it’s also got new offices and warehouses in the works both domestically and abroad. Concord.

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No-touch Banking

Insights on Business

The earliest forms of banking date back to 2000 BC , while in the United States, the first bank was established in 1791 in the city of Philadelphia. You could say that banks have had a lot of practice knowing what their customers want and how to provide it to them. Banks today are looking to banking automation in the form of cognitive computing for a ‘no touch’ automated solution for frequent and routine requests, and to carry them out mistake-free.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Accountants Reveal Small Businesses’ Biggest Financial Mistakes

PYMNTS

In a survey of more than 500 small and medium-sized business (SMBs) accountants and bookkeepers, business and financial software company Intuit found a few factors that frustrate the profession. Reports Thursday (Sept. 14) said Intuit’s report found a lack of proper record-keeping landed at the top spot of the list of the biggest frustrations for small businesses’ accountants, with nearly three-quarters of professionals surveyed saying this was the most common problem they saw.

Survey 154
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Editorâ??s picks: How Big Data and AI are changing banking

Bobsguide

How business intelligence is revolutionising banking. Ilan Hertz, Head of digital marketing at Sisense. In the early 1990's, the increasing popularity of automated teller machines (ATM's) revolutionised banking, lowering the number of tellers required for each branch and allowing.

Big Data 119
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DoorDash To Acquire Rickshaw

PYMNTS

In a recent TechCrunch article, on-demand restaurant delivery service DoorDash announced it is acquiring Rickshaw to boost same-day delivery offerings. Rickshaw is a Y Combinator graduate startup that helps businesses make same-day deliveries happen by pairing them with courier networks and managing the logistics of the last delivery mile. DoorDash had been working on a similar solution called Drive, a platform which was designed to provide users with access to its delivery network apart from it

Meeting 152
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Preventing consumer e-commerce fraud in the age of EMV

NCR

After years of lagging behind many other developed nations, the US market is rolling out EMV technology. While the transition is still in process, and has in many cases been a bumpy, road to adoption, it will go a long way towards tackling some of the most common types of fraud. Keep in mind, the US market had the most cards to re-issue and the most POS devices to replace, it was a costly initiative, but in the long run, can save substantial costs associated with fraud.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Nestlé Expands Into Coffee Market, Acquires Blue Bottle

PYMNTS

California coffee chain Blue Bottle has just been slurped up by Nestlé, the world’s largest food and drinks company, based in Switzerland. The Blue Bottle café and roastery chain has a value of more than $700 million, according to a report by Financial Times. Nestlé paid $500 million for a 68 percent majority stake. The Swiss food and drink giant is staking out more territory in the U.S. by adding Blue Bottle to its holdings, a robust portfolio including the Nespresso coffee capsule and Nescafé

Marketing 139
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Editorâ??s pick: Regulations, how to comply and thrive

Bobsguide

MiFID II countdown: FCA clarity is still needed before implementation. Cosmo Wisniewski, Principal Consultant, Citisoft plc. While relaxing on a sun lounger in the heat-haze of a distant shore, it is perhaps easy to forget that back in the UK, the Financial Conduct Authority (FCA) has recently.

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NEW REPORT: Helping Beauty Professionals Tame The Cash Flow Beast

PYMNTS

Time is money. And for contractors in the beauty industry, time wasted by no-show customers cuts right into the bottom line. But new payment tools are now available to help these gig workers enforce fees for late and no-show customers, giving them access to more control over a steady cash flow. The September edition of the PYMNTS.com Disbursements Tracker™ , powered by Ingo Money , showcases the latest developments in the payment disbursement space and how recent developments are giving consumer

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Opportunities for FinTech Startups in Brazil: Interview With Manoel Lemos, Managing Partner at Redpoint eventures

Let's Talk Payments

Redpoint eventures, a venture capital company worth $130 million, is one of the most reputable technology entrepreneurs in Brazil. This company is so popular that it received more than a.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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Target Team Switches From Apple To Android

PYMNTS

Three years ago, retailer Target officially outfitted employees with Apple gear for stocking and other sales floor-related duties — specifically, iPod Touches in red plastic shells. But, according to reports in Gizmodo, Target is making a switch. Coming soon, the company will be replacing those Apple iOS devices with Android ones. The Zebra TC51, which runs Android 6.0 Marshmallow, has become the confirmed device of choice for “the new MyDevices for store team members chain-wide,” according to a

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Consumer gift card purchases follow retail slump

Payments Source

After five years of steady growth, U.S. consumers are pulling back on buying all types of prepaid cards — including retail gift cards — due to a combination of economic and consumer shifts.

Retail 68
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Today In Data: Same Day ACH

PYMNTS

In a recent interview with PYMNTS’ Karen Webster, Jane Larimer, chief operating officer at NACHA, said the financial services industry has done much preparation in terms of enhancing systems and processing, in tandem with significant testing, after a smooth Phase 1 of Same Day ACH debuted last September. “We’re seeing robust use of same-day ACH credits,” said Larimer.

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7 pre-iPhone X uses of facial ID in payments

Payments Source

Apple's Face ID is turning heads, but it is far from the first use of facial biometrics in payments. Here are several implementations that pre-date it.

Apple 73
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.