Chris Skinner
JUNE 13, 2019
I annoy a lot of people. I don’t mean to. But anyone with a description of ‘troublemaker’ is going to annoy someone. What’s interesting is the different reactions I get from start-ups, technology firms, banks and internet giants. In general, the ones who seem to get most irritated by me … The post A bank CEO should be better appeared first on Chris Skinner's blog.
Payments Dive
JUNE 13, 2019
As companies use technology to manage their accounts receivables and payables, they need to take a hard look at several factors regarding the solutions they choose to employ.
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Bank Innovation
JUNE 13, 2019
The peer-to-peer payments race is now more than a duel between bank-backed Zelle and Paypal-owned Venmo. According to a report released Thursday from Nomura Instinet analyst Dan Dolev, Cash app downloads grew by 2.2 million in May, up from 2 million in April. Meanwhile, Nomura reported that new downloads of Venmo were up 1.7 million […].
Chris Skinner
JUNE 13, 2019
Things we’re reading today include … Britain’s wildly popular Monzo banking app is coming to America Meet the British Banks showing the US how it’s done Truist will soon be one of America’s biggest banks Digital technology will strengthen America’s biggest retail banks Facebook hires UK bank lobbyist ahead of … The post Things worth reading: 14th June 2019 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
Payments Dive
JUNE 13, 2019
Retailers are increasingly incorporating Internet-of-Things devices into store operations, but delivering on the value proposition requires dependable connectivity.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
JUNE 13, 2019
The deadline has been extended to submit award entries for the annual BCX Summit for banks and fintechs in several important categories.
Bank Innovation
JUNE 13, 2019
Australian point-of-sale lending company Afterpay is quickly expanding its reach among U.S. retailers. It's promoting its products as a means to grow its customer base and increase purchase volume. As of May, Afterpay had 1.5 million U.S. customers and 3,300 merchants using its platform, including Anthropologie, Levi’s and Urban Outfitters. The company said 1,100 more […].
PYMNTS
JUNE 13, 2019
Cybersecurity is one of the main tasks in the world of digital commerce and payments, and it’s a task that is getting more attention from consumers, companies, regulators and others. But there’s a big problem in this realm — a shortage of cybersecurity experts, the people with the training and expertise to defend retail and payments from increasingly sophisticated online criminals.
Bank Innovation
JUNE 13, 2019
According to U.S. Securities & Exchange Commission commissioner Robert Jackson, technology can help solve lingering problems in the capital markets, such as high fees that are a result of low competition. “I think a lot of the issues that plague our capital markets today can be solved and will be solved by technology,” he said […].
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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
Payments Dive
JUNE 13, 2019
A new global study by TNS explorers consumers attitudes toward making payments on wearables, mobile apps and cashless systems as well as the role of cash in the payments mix. Download this report now to discover differences in opinion across geographic locations, age groups and gender.
PYMNTS
JUNE 13, 2019
Visa and Mastercard each made headlines in the payments infrastructure and cross-border realms, eyeing digital payments and B2B payments. As reported earlier in the week, Visa launched B2B Connect , a network focused on enabling financial institutions (FIs) to help their clients make B2B payments across borders. As reported, the launch covers 30 markets globally.
Payments Dive
JUNE 13, 2019
Only one day remains to submit award entries for the annual BCX Summit for banks and fintechs in several important categories.
PYMNTS
JUNE 13, 2019
In early May, Mastercard , in partnership with SEDESSON, the Mexico state agency for social benefits, and Edenred Bank, announced a first-of-its-kind test in Mexico’s Sonora state – the first regional test of biometric card technology in national history. It was a launch supported by background efforts in developing biometric cards that have been three or four years in the making, as Mastercard’s Executive Vice President of Identity Solutions Bob Reany told Karen Webster in a recent conversation
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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.
Abrigo
JUNE 13, 2019
Business borrowers really like credit unions – when they use them. In fact, credit unions have some of the highest business-borrower satisfaction rates among all types of lenders, according to the Federal Reserve’s latest Small Business Credit Survey. Satisfaction with credit unions was 76% among applicants for new credit — higher only for businesses that had applied at small banks (at 79%).
PYMNTS
JUNE 13, 2019
For blockchain technology, the crux of many of its purported benefits for the enterprise is its decentralized nature, which, proponents of distributed ledger technology (DLT) have said, promotes visibility and makes it more difficult for data to be manipulated. The security benefits of decentralization make blockchain an attractive fit in corporate finance.
CFPB Monitor
JUNE 13, 2019
For some time the mortgage industry, without success, has asked the US Department of Housing and Urban Development to provide a clear answer to the question of whether Deferred Action for Childhood Arrival (DACA) recipients are eligible for FHA loans. HUD finally provided a clear answer in responding to an inquiry from Representative Pete Aguilar (D-CA): “DACA recipients remain ineligible for FHA loans.”.
PYMNTS
JUNE 13, 2019
Retail is getting more visual, and that stands to be the case for locally-focused merchants as they compete for attention and consumer dollars with the likes of Amazon and Walmart. Indeed, augmented reality is among the tools that local retailers look ready to adopt for further use. According to one recent report , augmented reality, or AR, “has lots of implications for local commerce.
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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.
Insights on Business
JUNE 13, 2019
Before becoming a sales consultant, I spent nearly twenty years working in healthcare. You might think that with a master’s degree, a specialty in cardiovascular diseases, and training in the scientific method, my approach to sales effectiveness would be worlds apart from that of SalesGlobe founder, Mark Donnolo, who uses design thinking methods. After all, I come from a science background and Mark, as you may know, cut his teeth in art school, majoring in design.
PYMNTS
JUNE 13, 2019
Three percent of, well, anything is not a lot. It seems an especially low number when considering this stat: Only 3 percent of companies meet customer demands for instant business-to-consumer (B2C) payments. How about a bigger number, though equally disquieting? As much as 80 percent of firms still rely on paper checks when it comes to making business-to-business (B2B) payments.
Payments Source
JUNE 13, 2019
A huge portion of European companies will not clear PSD2's regulatory hurdles for digital connections between banks and payment apps, but that hasn't slowed down some companies that see value in open banking and payments.
PYMNTS
JUNE 13, 2019
The new 5G mobile network technology is getting its first deployments, but that’s not the only communications game in town. A technology that tracks lost scooters people rent could play a role in the coming years in digital retail and payments, at least going by recent reports. The innovation — and potential disruption — stems from a company called Helium , which describes itself as a peer-to-peer wireless network.
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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.
Payments Source
JUNE 13, 2019
Distributed ledgers are already revolutionizing international transactions and trade finance. The added stability will bring about even greater adoption, argues Neutral's Matt Branton.
PYMNTS
JUNE 13, 2019
Facebook has been removed from a list of companies that are indexed by S&P Dow Jones Indices as socially responsible, according to a report by CNBC. The decision for the ousting, which was made on Thursday (June 13), stems from Facebook’s continued privacy issues. The list in question is called the S&P 500 ESG Index, which keeps track of companies that practice responsible social, governance and environmental practices.
CFPB Monitor
JUNE 13, 2019
To mark the first six months of Kathy Kraninger’s tenure as CFPB Director, the CFPB issued a press release providing highlights of the Bureau’s activities during that period. The activities highlighted are those in the areas of consumer financial education, supervision, enforcement, and rulemaking. The takeaway from the press release is that the Bureau continues to be very active under Director Kraninger’s leadership.
PYMNTS
JUNE 13, 2019
As Walmart works to integrate Jet.com into its business, the retailer is eliminating Simon Belsham’s role as Jet president. As a result, Jet team leaders will now report to Kieran Shanahan, who’s been overseeing Walmart’s food, consumables and health-and-wellness divisions online. “Bringing together talent from Jet and Walmart into joint teams has created more opportunity for our business and our people,” said Marc Lore, co-founder of Jet.com who now serves as president and CEO of Wa
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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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