Chris Skinner
FEBRUARY 16, 2020
Over the years, a few people have likened me to the Yoda of banking. Yoda is one of the most likable characters in the Star Wars franchise, but I’m not sure if I like the comparison. Yoda is seriously old, speaks in riddles and is tiny and wrinkled. Nevertheless, I … The post Bank Wars, Episode XX: The Rise of FinTech appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 16, 2020
Digital bank Stori, which is based in Mexico City, aims to reach customers with minimal access to financial services. Recent research highlights the problems the bank is attempting to solve. According to data from CB Insights, less than 3% of the poorest Mexicans have access to a credit card, as opposed to more than 15% of the country’s highest earners.
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Chris Skinner
FEBRUARY 16, 2020
Things we’re reading today include … China disinfects banknotes and quarantines them for 14 days Brexit: Britain and EU ‘will rip each other apart’ in trade talks Former Morgan Stanley president slams Europe’s capital markets Climate change could make premiums unaffordable: QBE Insurance UK digital bank Monzo plans to hire … The post Things worth reading: 17th February 2020 appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 16, 2020
MoneyGram is upgrading its digital capabilities beyond international cash pickup services with FastSend, a new feature that allows customers to send money to recipients’ accounts via mobile phone numbers instead of account numbers. The feature rolled out earlier this month. “We’re trying to address [pain points] with a fintech startup mentality and a very convenient […].
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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
Accenture
FEBRUARY 16, 2020
In their quest for growth, Australia’s financial services (FS) firms spent decades acquiring and merging with a range of businesses to become one-stop shops. The aim? To drive efficiencies with services spanning the FS value chain, from product design and development to advice, distribution and servicing. It ended badly, culminating in a sales-first culture that….
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
FEBRUARY 16, 2020
SoftBank will add $1 billion this year to its $5 billion Latin America Fund introduced in 2019, adding to last year’s $1.6 billion, Bloomberg reported on Friday (Feb. 14). Its investment in Latin America this year will target eCommerce, healthcare, FinTech and other industries, as it looks at about 650 firms in the region. SoftBank has so far earmarked $100 million to $150 million to fund 17 companies and two venture capital firms. .
Qudos Bank
FEBRUARY 16, 2020
Buying a new home is extremely exciting, but it’s also something that needs to be approached with a level head to ensure you’re making the right decision. Your aim is to end up with a home you love at a price you can afford, without any buyer’s remorse after you move in.
PYMNTS
FEBRUARY 16, 2020
Swiss chocolatier Barry Callebaut ’s Mona Lisa design studio has developed personalized 3D printed chocolate at scale, the company announced Friday (Feb. 14). Mona Lisa teamed up with a pastry chef, Jordi Roca, so he could add his creative touch to 3D chocolate. His Flor de Cacao depicts the flower-like opening of the cocoa bean when it comes into contact with hot chocolate sauce.
BankBazaar
FEBRUARY 16, 2020
The novel Coronavirus that originated in Wuhan has now spread around the world and killed more than 2,000 people. Will your insurance cover this pandemic? Let’s find out. . The novel Coronavirus that emerged in central China last year is now spreading rapidly to other parts of the world. According to latest figures, COVID-19 has claimed more than 2,000 lives.
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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
FEBRUARY 16, 2020
Rakuten , the Japanese eCommerce conglomerate, has sold billions of dollars’ worth in shares, including the entirety of its stake in Pinterest. The shares were from the company’s technology holdings, according to Rakuten, and the sheer amount of them raised concerns among analysts about overvaluation in the sector. Rakuten’s sales come on the heels of its operating loss of 40 billion yen, or $360 million, last quarter.
American Banker
FEBRUARY 16, 2020
Compared with incendiary fights elsewhere in the capital, deliberations among the banking agencies tend to be more banal. But on issues from the Volcker Rule to CRA reform, disagreements lately between officials have grown sharper.
PYMNTS
FEBRUARY 16, 2020
Binance Holdings has applied for an operating license in Singapore under the country’s new payments legislation, which aims to be a comprehensive regulatory agency for digital currencies. Binance o-founder and CEO “CZ” Zhao Changpeng said they applied “pretty fast” and that the local Singaporean authorities they dealt with were known for being fair.
The Financial Brand
FEBRUARY 16, 2020
7 steps for transitioning from traditional marketing channels to a modern menu of digital promotion that reaches today's banking consumers. The post Digital Marketing Strategies for Community Financial Institutions appeared first on The Financial Brand.
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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
FEBRUARY 16, 2020
The U.S. Federal Trade Commission (FTC) is investigating acquisitions made by big tech firms in the past 10 years and has a special focus on Google ’s $1.1 billion purchase of mapping app Waze , Bloomberg reported on Friday (Feb. 14). In June 2013, the FTC approved Google’s acquisition of the Israeli company behind the crowdsourced navigation app Waze.
PYMNTS
FEBRUARY 16, 2020
A warm January led to utilities dropping 4 percent for the month as Americans reduced their reliance on heat, according to The Wall Street Journal. Overall, industrial production, which is measured in factory, mining and utility output, was down 0.3 percent last month, adjusted for the season. Business investment declined in three out of four quarters in 2019.
PYMNTS
FEBRUARY 16, 2020
Berkshire Hathaway ’s new investment in Kroger sent shares soaring Friday (Feb. 14), CNN reported. Billionaire investor Warren Buffett is chairman and CEO of Berkshire. Shares of the country’s biggest grocery store chain went up 6 percent on the news of Buffett’s purchase of 19 million shares during the fourth quarter. Berkshire Hathaway is now among the 10 biggest shareholders of Kroger’s stock, according to its 13F filings.
PYMNTS
FEBRUARY 16, 2020
Google might launch its own news aggregation service as a way to compete with rival Apple News+. The Wall Street Journal reported that Google has been discussing the issue with several publishers, talking about paying a license fee to use content in an upcoming project. While not much information is readily available yet, the company could be working with publishers outside the U.S., reported CultOfMac.com.
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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
FEBRUARY 16, 2020
China’s coronavirus is having a negative impact on the eurozone’s already-sluggish economy, and no one is confident that the U.S. Fed will leave interest rates alone until the end of the year. In addition, the outbreak of coronavirus brought copper’s rally to an end. Copper — sometimes seen as the bellwether for the global economy — took a dive, the Financial Times (FT) reported on Sunday (Feb. 16).
PYMNTS
FEBRUARY 16, 2020
Rakuten , the Japanese eCommerce conglomerate, has sold billions of dollars’ worth in shares, including the entirety of its stake in Pinterest. The shares were from the company’s technology holdings, according to Rakuten, and the sheer amount of them raised concerns among analysts about overvaluation in the sector. Rakuten’s sales come on the heels of its operating loss of 40 billion yen, or $360 million, last quarter.
PYMNTS
FEBRUARY 16, 2020
Small and medium-sized businesses (SMBs) in Australia are being reminded by the country’s tax office that owing money to the agency is not OK, Broker News reported Friday (Feb. 14). The national business funder Scottish Pacific said in a press release Thursday (Feb. 13) that SMBs will soon face new risks for holding off on tax payments and using the Australia Tax Office (ATO) “as a bank.”.
PYMNTS
FEBRUARY 16, 2020
Facebook is something in between a newspaper and a telecommunications company, said CEO Mark Zuckerberg , and he wants it to be regulated accordingly, The Wall Street Journal reported. Speaking before a conference of government and security officials at an annual security conference in Munich, Zuckerberg made the case that his website is different from a traditional news outlet where the content would be more heavily scrutinized and he’d be held accountable.
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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.
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