Tue.Nov 20, 2018

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Cyber crime seen as major risk to mobile shopping during holiday season

Payments Dive

As cyber attackers develop more sophisticated methods of attacking online sites, security experts and retailers are increasingly focused on protecting mobile shopping and payment platforms to ensure a safe holiday season.

Mobile 370
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Are you really ‘doing digital’?

Chris Skinner

I’m regularly asked why I don’t think banks are doing digital yet, and my answer consists of a series of steps. First, does the banks’ leadership team talk about digital, digital banking, digital investment and digital transformation? Invariably, all bank people tell me yes. OK, second, has the bank actually … The post Are you really ‘doing digital’?

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Carrier billing in the Nordics: 2018 market report

Payments Dive

This market report gives an overview of the mobile payments landscape in the Nordic countries: Sweden, Denmark, Finland and Norway.

Report 239
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What Does ‘Operational Efficiency’ and ‘Pragmatism’ Mean for Innovation?

Bank Innovation

Signs point to more difficult economic times ahead. The future is always uncertain, but banks must prepare now, and this may spell trouble for innovation teams. Wells Fargo & Co. recently notified about 1,000 employees in its Consumer Banking and Payments, Virtual Solutions and Innovations groups of the bank’s plans to eliminate their positions.

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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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Bitcoin Fails To Take Off As Payment Method

PYMNTS

Bitcoin’s use as a form of commercial payments has declined during the year, at the same time that the digital token appears to be stabilizing. According to a report in Reuters , citing Chainalysis, the blockchain research firm, the value of bitcoin handled by payment processors declined close to 80 percent this year ending in September, signaling that bitcoin is still having a tough time moving away from being a speculative asset.

Bitcoin 189

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Sub-Prime Lending’s Late-Year Bounce

PYMNTS

According to the latest Q3 2018 TransUnion’s Industry Insights Report the back half of 2018 has been a good year for sub-prime borrowers looking for access to credit. In the year between Q2 2017 and Q2 2018, sub-prime consumer loan originations grew 28 percent between Q2 2017 and Q2 2018 across the categories of auto loans, mortgage loans and credit cards.

Lending 188
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Making private bankers more productive

Bobsguide

The transition to the use of digital tools in private banking is drawn by inefficiencies experienced by private bankers. If not dealt with, they will likely impact client satisfaction aside from making the private banker less productive. At the outset, qualified and experienced private bankers are.

Tools 127
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NEW DATA: Gas Apps And The $22B Opportunity For C-Stores

PYMNTS

About 48.5 million Americans will be hitting the road this week for the Thanksgiving holiday, according to AAA. A fair share will be stopping at gas stations to refuel their tanks, and roughly half of these consumers will be using mobile apps to find the cheapest gas and get directions to the station. Of course, no road trip is complete without snacks and refreshments.

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How to keep mobile shopping from becoming a gift for fraudsters

Payments Source

Black Friday and Cyber Monday up the ante for payment crime, but there are steps retailers and payment companies can take, according to OneSpan’s Will LaSala.

How To 87
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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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Businesses Want Real-Time Payments — What Will It Take To Get There?

PYMNTS

Real-time payments: It’s one of those changes that everyone seems to agree on, but could still use some push. That’s the idea behind the recently launched Faster Payments Council (FPC), a group of payment industry participants with the goal of providing a ubiquitous payment system with near-immediate funds availability anywhere. New PYMNTS research painted a detailed picture of how the market is seemingly ready for such transactions.

Payments 175
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Open Banking: infrastructure firms â??invisibleâ?? as incumbentsâ?? appetite varies

Bobsguide

"Critical" work conducted by infrastructure organisations – which provide aggregating services for Open Banking protocols – is being overlooked, says Iain McDougall, Stripe’s UK & Ireland country manager. It comes at a time when parts of the banking community.

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Department Of Justice Accuses Globvision CEO Raul Gorrin Of Bribery

PYMNTS

The U.S. Justice Department has accused Raul Gorrin, the owner of Globvision, the Venezuelan television channel and Seguros La Vitalicia, the insurance firm, for bribing officials in the country. According to a report in Reuters , citing an unsealed indictment in federal court in West Palm Beach, Flordia, Gorrin was charged with violating anti-corruption laws in the U.S. in an effort to win contracts to engage in currency exchange operations for the government.

Florida 161
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Bitcoin-rigging criminal probe is said to home in on Tether

Payments Source

As Bitcoin plunges, the U.S. Justice Department is investigating whether last year’s epic rally was fueled in part by manipulation, with traders driving it up with Tether — a popular but controversial digital token.

Bitcoin 79
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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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Amazon Makes Bid For All Of The 22 Regional Sports Networks Disney Is Unloading

PYMNTS

Amazon.com, the eCommerce giant, is reportedly making a bid for all of the 22 regional sports networks that Disney purchased as part of its Twenty-First Century Fox deal. CNBC , citing sources familiar with the matter, reported Amazon is teaming up with an unknown sovereign wealth fund and the Yankees to bid for the YES Network. YES, the New York network could be sold separately from the other networks, reported CNBC.

Regional 155
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Fraud detection’s slow speed and silos can’t keep up with emerging threats

Payments Source

Using machine learning to analyze payment data, the latest technology automates workflow and decisions, making fraud detection quicker and more efficient, writes Steven Goddard, product manager for risk at The ai Corporation (ai).

Fraud 75
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Careem Aims To Raise As Much As $200M From Chinese Investors

PYMNTS

Careem, the leading ride-sharing rival to Uber in the Middle East, is aiming to raise between $100 million and $200 million. According to a report in Reuters , citing a source with direct knowledge of the matter, Careem is aiming to raise the funding via Chinese investors, with investment bank China International Capital Corp. advising the ride-hailing startup on its capital raise.

Capital 151
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SoftBank to invest $2 billion in Korean e-commerce site Coupang

Payments Source

SoftBank Group Corp.’s Vision Fund will invest $2 billion in South Korea’s Coupang, giving the e-commerce giant funds to accelerate development of new shopping and delivery services.

Groups 70
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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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Plastiq Lands Funding For Tool Broadening SMBs’ Use Of Cards

PYMNTS

FinTech startup Plastiq has announced a $27 million venture capital funding round for its solution that lets businesses and consumers make payments with their payment cards, regardless of if cards are accepted. Investors at Kleiner Perkins led the Series C funding round, according to a press release issued by Plastiq on Monday (Nov. 19), while DST Global also participated.

Tools 151
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Paytm Canada partners with Paysafe

Payments Source

Paysafe has partnered with Paytm Canada, the Toronto-based division of Indian mobile payments juggernaut Paytm, to improve the capabilities of Paytm's Canadian app, which currently supports utility and bill payments.

Mobile 70
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Italian Certified Email Accounts Targeted In Cyberattack

PYMNTS

The government of Italy was hit with a major cyberattack, violating data privacy by exposing thousands of Italian certified email accounts, including around 9,000 magistrates, as well as members of a top inter-governmental security agency. “This was the worst attack we have had since January this year and it has had important repercussions, but … the situation is under control,” said Roberto Baldoni, who is in charge of state cybersecurity, according to Reuters.

Fraud 142
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Why the digital generation is shopping in stores

Payments Source

Millennials may have earned the reputation for doing all of their shopping on smartphones and tablets so they can pay from wherever they are, but a growing body of research suggests that most prefer shopping in brick-and-mortar stores.

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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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AUrate’s Vision For Curated Fine Jewelry

PYMNTS

When Bouchra Ezzahraoui and Sophie Kahn went into the jewelry business with their startup AUrate , they had a clear problem in mind they wanted to fix – the market for fine jewelry wasn’t really designed to cater to the people who wear most of the nation’s jewelry: women. Historically, they found the marketplace was built to cater to men, and the two founders described themselves as “fed up with what we were seeing in terms of offers in the jewelry industry.

New York 140
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11.20.18 Your morning briefing

Payments Source

The information you need to start your day, from PaymentsSource and around the Web: Monday's crypto crash; Plastiq's latest funding; Amazon adds Skype; and more.

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Travelers Expands Amazon Smart Home Program

PYMNTS

The Travelers Companies announced 11 new states where eligible customers can receive a smart home kit discount via the insurance firm’s first digital Amazon storefront. The discounts — along with a free Amazon Echo Dot — were first available to Travelers home insurance customers in California, as well as its Quantum Home 2.0 customers in Colorado, Missouri and Wisconsin.

Idaho 139
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Regional payment networks face new threats from global rivals

Payments Source

New payments technology and rising demand for services are expanding the scope and reach of most of the world’s leading domestic payment schemes. But challenges from Visa and Mastercard loom large.

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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.