Thu.Sep 07, 2017

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Square to Create Industrial Bank, Square Financial Services Inc

Bank Innovation

Mobile payments processor Square is filing an application to create an industrial loan company with the Federal Insurance Corporation. The move, which will reportedly take place today, will allow Square to own and operate an industrial bank without being subject to regulatory requirements of a bank holding company. Most notably, as an industrial bank, Square […].

Industry 312
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An interview about digital

Chris Skinner

I recently was interviewed for a conference in Miami, and thought you might enjoy the Q&A so sharing … Your book “Digital Bank” published in 2014 included extensive guidance and background on the digital revolution in banking that was taking place. Are changes going at the speed and in the … The post An interview about digital appeared first on Chris Skinner's blog.

Miami 258
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U.S. Bank Announces Amazon Alexa Integration

Bank Innovation

EXCLUSIVE- U.S. Bank has become part of a select group – banks that allow customers to access their accounts via voive with Amazon Alexa. The Minneapolis-based bank ran an employee pilot over the summer and initiated work on the Alexa skill earlier in 2017, said Gareth Gaston, executive vice president and head of omnichannel banking at U.S. […].

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TNS Report Reveals Significant Global Variations in ATM Usage

Payments Dive

A new report being published today by Transaction Network Services (TNS) has revealed that consumers in the US, UK and Australia exhibit different behaviors when using ATMs.

ATM 170
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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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Mambu Enters Retail Banking Space with N26 Collaboration

Bank Innovation

EXCLUSIVE – SaaS banking engine, Mambu announced its first major step into the retail banking space through its collaboration with German mobile bank N26. On Thursday, Mambu announced that N26 is using Mambu to migrate all of its customers over to the bank. The move serves Mambu’s growth strategy, not only because N26 is one […].

Retail 281

More Trending

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Payment Processor Vantiv’s Latest Digital Issuing Product

Bank Innovation

EXCLUSIVE – Payments processor Vantiv is gearing up to reveal a new digital issuing product early next year that will allow users to download a digital credit card within minutes of opening a bank account. While many of the product details are still under wrap, Mick Oppy, vice president of financial institution products at Vantiv, […].

Payments 247
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Puretta And Disrupting The Toothbrush

PYMNTS

Generally speaking, the merits of brushing teeth are not a hard sell for must humans and have not been for the last 5,000 or so years. Because yes, brushing one’s teeth is a shockingly old tradition. The first “toothbrushes” appeared in 3,000 BCE, making the invention of proper oral hygiene roughly contemporary with the invention of written language.

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MoneyGram MobilePass Expands to 35k Locations

Bank Innovation

Money transfer service MoneyGram is expanding MobilePass, its mobile money transfer product, to include all of its U.S. locations. The product allows MoneyGram customers to first initiate a transaction via mobile before completing it in person at one of the company’s locations. MoneyGram started piloting MobilePass in 2016. Today’s expansion means the capability is now […].

Mobile 207
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Mastercard Engage Brings Together Digital Vendors

PYMNTS

Mastercard announced news that it is expanding its Digital Vendor program with the launch of Mastercard Engage. The company’s Digital Vendor program is a list of vendors serving issuers around the globe to help them bring to market their Masterpass digital wallets and tokenize payment credentials in an easy and quick manner. The directory lists both global and regional vendors and provides information about each vendor’s digital payments offering and geographical presence.

Training 128
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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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Capital One Looks to the Cloud to Power Innovation Efforts

Bank Innovation

EXCLUSIVE—Cloud infrastructure and data analytics are becoming more and more integral to financial services, and Capital One is one bank ahead of the curve. “We are a very data-driven company, we want to bring the bank to the customer,” Linda Apsley, vice president of data engineering at Capital One, said of the bank’s use of […].

Capital 207
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Veem Links Xero Users To X-Border Payments

PYMNTS

Cross-border B2B payments company Veem is integrating with cloud accounting platform Xero. Veem announced Thursday (Sept. 7) that a partnership with Xero means joint corporate users will have access to global payments capabilities, with companies able to sync invoices from Xero into Veem to pay bills. Users can now pay their bills directly from within the Xero platform, the companies said, with support for multiple currencies and payments to more than 60 countries.

Payments 126
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Project Stella Concludes DLT Not Ready for Large-Scale Applications…Yet

Bank Innovation

After months of research on the application of distributed ledger technology by the Bank of Japan and European Central Bank, the two central banks determined that DLT is not advanced enough for large-scale applications like real-time gross settlement (RTGS) systems. The two banks combined forces last December on “project Stella,” whose purpose was to figure […].

System 170
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Google Assistant Comes To Home Depot

PYMNTS

Google has added a new partner to its Google Home voice ordering portfolio. Home Depot announced Thursday (Sept. 7) it is the newest retailer to team up with Google as it looks to expand its digital sales horizon. Home Depot has confirmed it will now begin selling products on Google Home devices as well as via the Google Express commerce portal online and on mobile.

Google 126
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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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Mobile Payments Today: August's best reads

Payments Dive

It's time for a look back at August's most-read articles and blog posts on Mobile Payments Today.

Mobile 150
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Fed Looks To Keep Momentum Going On Payments Improvements

PYMNTS

It’s been more than two years since the Federal Reserve issued its Strategies for Improving the U.S. Payment System paper, in which the Fed outlined initiatives for the payments industry and its stakeholders to promote progress. For the Fed, progress means improving the speed, security and efficiency of the payments system, and to focus on international payments capabilities and promote collaboration within the field.

Payments 124
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FinTech Lending: A Trojan Horse for Small Businesses?

Let's Talk Payments

Lending business has steadily been one of the most lucrative in FinTech for almost every party involved – virtuous investors and talented teams alike. In fact, lending is one of.

Lending 110
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Guardian Of The Analytics Galaxy

PYMNTS

Think the life of a vice president of analytics is all about the numbers? Think again. There’s data, to be sure — reams of it. But in an interview with PYMNTS, Massy Najafi , who serves in that role at Guardian Analytics , shed light on more than a few other aspects of the job. There’s interaction with marketing and customer service teams, an eagle eye on data fraud — oh, and no small amount of effort devoted to innovation.

Analytics 116
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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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Mobile payments can overcome mobile marketing challenges

Payments Source

Targeting customers and linking mobile marketing to in-store sales is a challenge for retailers, but mobile payments can make a difference, writes Marissa Tarleton, chief marketing officer for RetailMeNot.

Mobile 73
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Visa And BillDesk Bring Bharat QR To More Than 300M Consumers

PYMNTS

Payment processor company Visa and BillDesk, an India-based electronic payments provider, announced Wednesday (Sept. 6) they had successfully enabled 50 large service providers for the Bharat QR payments acceptance platform. In a press release, the companies said the achievement occurred in a month, extending the digital payment facility to potentially more than 300 million consumers.

Examples 116
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Tesco changes mobile payment app name, promises new features

Payments Source

The institution launched the PayQwig digital wallet in 2015 and made the mobile app available earlier this year to link a mobile wallet to Tesco shoppers' Clubcard to earn points each time it was used.

Mobile 69
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Coming Soon: Same Day ACH Phase 2 – Debits

PYMNTS

A common problem with Hollywood movie sequels is they usually do not quite live up to the impact of their predecessors. Apologies to any Iron Man 3 devotees reading this, but follow-ups just typically don’t have the Jaws of, well, the original. And, come on — four Chipmunks movies? Hollywood metaphor (almost) aside, there’s another industry near and dear to the Faster Payments Tracker ’s heart, and it’s also producing sequels these days.

Regional 113
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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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Insurtech’s big ticket items – machine learning on the blockchain

BankNXT

In insurance, blockchain just makes sense, says Chris Skinner, and machine learning is becoming a significant trend. Insurtech’s big ticket items – machine learning on the blockchain on BankNXT.

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Gap Announces 200 Brick-And-Mortar Store Closures

PYMNTS

American clothing and accessory retailer Gap Inc. announced news on Wednesday (Sept. 6) that it would close approximately 200 brick-and-mortar Gap and Banana Republic storefront locations over the next three years, according to reports by USA Today. Gap Inc. is the parent company for the Athleta, Banana Republic, Gap, INTERMIX, Old Navy and Weddington Way brands.

Retail 108
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Regulatory sandboxes can help states advance fintech

Payments Source

States must recognize how their patchwork of different regimes stifles innovation, but they also have an opportunity to help maintain U.S. competitiveness in the global fintech marketplace.

Fintech 64
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Veridium Rolls Out Fingerprint Verification Pilot In Developing Countries

PYMNTS

Veridium , a leader in identity access management solutions using biometrics as the primary authenticator, announced news that it has been awarded a grant from the Digital Financial Services Innovation Lab to develop and field test biometric authentication technology on unmodified Android smartphones, which can improve the way people in developing countries access and enroll in financial and government programs.

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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.