Mon.Jul 03, 2017

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The way we bank is radically changing too

Chris Skinner

The British Bankers’ Association released their The Way We Bank annual report last Thursday. It was interesting. Here are the key highlights: Over the past five years customers’ activity on banking apps rocketed by 354%, with apps now an increasingly popular way to access current accounts rising from 21% of access in 2012 to 61% by the start of 2017.

Mobile 286
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Despite Financial Literacy Push, the Underbanked Are Still Underbanked

Bank Innovation

The rise of fintech startups and financial services companies espousing financial literacy programs, good financial health practices, and budgeting tools for consumers hasn’t changed one crucial fact: underbanked U.S. households are still underbanked. “I have seen a lot of [new] people in credit, but relatively little at the lower end,” Marla Blow, CEO and founder of […].

Tools 278
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Your next accounting client wants paperless, mobile services

Abrigo

Accountants looking for another reason to justify technology investments in their firms should consider this: The firm’s next generation of business clients are likely to require accounting services that are all or mostly digital. Moreover, younger business owners, in particular, expect accounting services that are in the cloud and accessible on mobile devices.

Mobile 150
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Breaking Banks: Removing Mystery of Money Movement

Bank Innovation

Why does it cost so much to move money? If every record is computerized, if all the movement is recorded electronically, then why are there fees to get money out of a different bank’s ATM? Why are there fees to spend your money in another country? Is it that expensive to move money, and does […].

ATM 223
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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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Retail Loyalty In The Age Of Laser Focus

PYMNTS

Loyalty programs are about more than loyalty. Now they are about personalization and speed and giving back to consumers that go well beyond the confines of luggage or other tangible goodies. In our latest Topic TBD, Bob Legters, SVP and chief product officer of Global Retail Payments at FIS , told Karen Webster that the big picture of loyalty amid a changing retail landscape is colored by small considerations, calibrations, speed and, of course, data.

Retail 113

More Trending

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How Payments Make Online Travel Sites Worth The Trip

PYMNTS

Summer might mean vacation for you, but for travel agents, it’s crunch time, adding volume to what can already be a very delicate equation. Even in the quiet seasons, the online travel market is susceptible to the trade winds, and they don’t always blow in agents’ favor. It can be buffeted dramatically by shifts in the global economy, emerging technologies and even factors as arbitrary as the weather.

Online 112
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All You Need to Know About OCC’s Innovation Office Hours

Bank Innovation

Who said regulators can’t be innovative? The Office of the Comptroller of the Currency (OCC) announced its Office of Innovation will host Office Hours for financial institutions and fintechs, to be held from July 24 to 26, at the OCC’s district office in New York City. Companies can request a slot by July 5. The OCC held its […].

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LendingPoint CEO On Medical Payments ‘Last Mile’ Problem

PYMNTS

It’s getting harder and harder for consumers to get the healthcare they need. Even when a person has insurance, and even when their policy covers a medically necessary procedure, most are forced to pay a high deductible. A $5,000 deductible might keep down costs for employers who offer health coverage, but it can be a real obstacle for consumers without financial means to get the care they need.

Payments 107
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Innovation in Capital Markets Technology – A Research Report by MEDICI

Let's Talk Payments

As subsets of financial markets, capital markets are integral parts in producing monetary output in economies globally, through which debt or equity-backed securities are bought and sold. Capital Markets are.

Capital 108
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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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Kaspersky CEO Offers To Give US Government A Peek At His Source Code

PYMNTS

Eugene Kaspersky, CEO of the Russian cybersecurity firm Kaspersky Lab, has publicly affirmed that he is willing to allow the government of the United States to inspect his firm’s source code to quell any questions and trust issues about Kaspersky’s antivirus and cybersecurity products. Kaspersky’s invite comes after round upon round of sparring between the U.S. and Russian governments over potential election hacking.

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Exclusive Interview With Josh Bottomley, Global Head of Digital, Retail Banking and Wealth Management, HSBC

Let's Talk Payments

The FinTech industry continues to grow at a rapid pace. Startups can rise quickly, appearing on the market with new technologies, platforms, and services that could improve our experience in.

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And Now, Uber By Boat

PYMNTS

By land, yes, and now by sea. Even amid turmoil at the top of its executive ranks and competitive pressures by the likes of Lyft, Uber is taking to other modes of transport. Beyond the open roads and now to the waves. Reuters reported that the ride-hailing company has debuted its speedboat service in Croatia as of this past Friday (June 30), and this is an effort to connect tourist locales that dot the Adriatic coast — with an operational timeframe that embraces the current summer tourist season

Miami 101
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The role of cash in budgeting and money management

NCR

Cash plays a number of important roles in the financial system. It contributes to financial inclusion, for example, and provides maximum convenience and usability for consumers and the smallest businesses. One of the lesser-discussed advantages of cash is its potential to help people budget and manage their money. Fiscal responsibility is something that businesses should be encouraging in our post-financial crisis world, so should banks be making a special effort to highlight the benefits of cas

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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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Is Russia Behind Ukraine Cyber Attack?

PYMNTS

In looking at just where the cyber attacks that hit the Ukraine and spread around the world last week may have originated, the Ukraine has pointed a finger at Russia. That assessment comes from the Ukraine’s state security apparatus, known as the SBU. The SBU also claimed that the Russian hackers were the same ones who had been behind a December 2016 attack on the country’s power infrastructure, and the sentiments were echoed by several of Ukraine’s politicians.

Security 100
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As Amazon fear widens, one U.K. retailer is fighting back

Payments Source

Retailers are worried about the online giant’s move into bricks-and-mortar retailing. For example, Amazon's $13.7 billion acquisition of Whole Foods Market Inc. wiped $17 billion off the value of Walmart.

Retail 64
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Target Debuts Four New Private Label Brands In Apparel, Home Goods

PYMNTS

Target is looking toward apparel and home goods in an effort to bring new items to stores later this year under the umbrella of four new brands, The Wall Street Journal reports. The financial publication states that the fall debut of the new brands — Project 62, A New Day, Goodfellow & Co. and Joylab — represents a bit of reinvention. The quartet is part of a strategy to bring an even dozen new brands — on the heels of successful ones such as Cat & Jack — to private label Target offering

Branding 100
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Small banks deemed ill-prepared for coming payments revolution

Payments Source

Though they face an array of competitive threats — from digital currencies to peer-to-peer payment apps — the vast majority of community banks do not have a payments strategy, according to a recent survey.

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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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Money2020 – the clue is in the name

BankNXT

The generous Money2020 Europe organisers provided a feast, says Leda Glyptis, but how many participants went home still hungry? Money2020 – the clue is in the name on BankNXT.

Fintech 73
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7.3.17: Your morning briefing

Payments Source

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web.

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Why omnichannel is the buzzword of the year

Bobsguide

George Zirkel is Senior Vice President and Head of Global Payments Strategy at Transaction Network Services, a worldwide provider of solutions for the payments, financial and telecommunications services. He has a wealth of experience in the payments industry, and has held senior leadership roles.

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Military-grade security can help fight data breaches

Payments Source

Military and intelligence agencies around the world have grappled with data breach challenges for years, and have relied on Secure KM (Keyboard/Mouse) switches to manage the risk.

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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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The Fintech 250: The Tech Startups Redefining The Financial Services Industry

CB Insights

Missed out on the Future of Fintech conference? Sign up to download the presentation and slides. CB Insights unveiled the Fintech 250 — a list of 250 of the most promising private companies applying a mix of software and technology … Continued.

Fintech 73
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Nets confirms takeover approach

Payments Source

U.S. private equity firm Hellman & Friedman LLC is among the companies to have shown interest in Nets, which is working a financial adviser to review options after getting inbound interest.

Company 60
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What’s so small about business banking?

BankNXT

Daryl Wilkinson talks about the potential for the role of the relationship manager in small business banking. What’s so small about business banking? on BankNXT.

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Ingenico appoints former CEO of Visa Europe as top strategy exec

Payments Source

At Ingenico, Nicolas Huss will help lead omnichannel payments strategy. Huss led Visa Europe starting in 2013, and in 2015 Visa announced plans to reunify the unit it had spun off a decade earlier.

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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.