Bank Innovation
JULY 6, 2017
What do mortgage lending and music streaming have in common? More than one would think. In fact, mortgage lenders could stand to learn a few lessons from how music services such as Spotify interact with consumers, according to Vishal Garg, founder and CEO of Better Mortgage. Better, an online mortgage lender utilizing machine learning to […].
Payments Dive
JULY 6, 2017
The retail landscape is evolving rapidly as emerging technologies and trends are changing expectations of the in-store experience. As retailers look to find their place in this brave new world, many are now seeing payments as an opportunity.
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Chris Skinner
JULY 6, 2017
Last week was Money 2020 Europe week. This year a gathering of 6,000 odd people – and I mean ODD – assembled in Copenhagen to talk all things FinTech and stuff. That’s 50 percent up on last year’s first outing and, due to the numbers and a few brown envelopes from the Dutch, the whole shindig moves to Amsterdam next year. I had various duties during the week, including hosting a panel on the challenge of large banks replacing their core systems.
Bank Innovation
JULY 6, 2017
In this episode, the show highlights four of many Fintech fighters that are working to make the system better, smarter, faster, cheaper, and more honest. First up is Neobank hero Norris Koppel, the founder of Monese, which was started out of his own need to open a bank account as an immigrant. Like many heroes, […].
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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
PYMNTS
JULY 6, 2017
API technology is opening new doors for the world of financial services, a trend that cultivates cooperation and collaboration between FinTechs and banks, once considered competitors. With the speed of payments accelerating and Same Day ACH initiatives continuing to roll out, NACHA has pulled together a group of industry experts to explore API standardization as a way to facilitate faster payment speeds and greater transaction security, among other use cases.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
JULY 6, 2017
It’s been more than six months since the National Credit Union Administration (NCUA) issued its revised member business lending (MBL) rule in January 2017. Among other things, the new MBL rule further defines the difference between commercial and member business loans and states that non-member loans do not count toward the statutory MBL cap. With the new rule in effect, the NCUA has received several questions regarding its implications.
PYMNTS
JULY 6, 2017
The world’s not ready for the Internet of Things (IoT). Oh, consumers are excited, and they have embraced connected commerce with both thumbs — and their voice. People have embraced smart technology such as the Apple Watch, Amazon Echo, Fitbit and even connected scales and blood pressure monitors by Withings. PYMNTS’ study in collaboration with Visa, “ How We Will Pay ,” quantifies just how many people are on board.
Abrigo
JULY 6, 2017
The 2017 Risk Management Summit presented by Sageworks is heading to the "Mile High City". The conference features consultative presentations, panels and peer discussions on topics related to the full life-of-the-loan. Why You Should Join Us The Summit offers actionable insights that apply across the whole institution, spanning business development through portfolio risk management in a CECL world.
PYMNTS
JULY 6, 2017
U.K. startup Previse, an artificial intelligence (AI)-powered invoice financing platform, has announced new seed funding. Recent reports said Previse raised $2.58 million in funding from Hambro Perks, which led the round, as well as Founders Factory. Previse uses artificial intelligence and Big Data to assess the likelihood a company will pay its invoices, then provides that assessment to financiers through its platform.
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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
Let's Talk Payments
JULY 6, 2017
The modern business landscape has evolved. The core business focus has moved from operational excellence to innovation. The customer is now at the center of the pyramid, around which processes.
PYMNTS
JULY 6, 2017
While the eCommerce frontrunner is taking further steps into solidifying its position, Amazon is getting a run for its money. In this edition of Today in Data, we look at Walmart’s rising marketplace numbers alongside Amazon’s Christmas in July offers and significant India investment. Here are the numbers: 92 million | Number of unique visitors per month for Walmart’s Marketplace. 69 percent | Growth of total gross merchandise sales by Walmart after its 2016 marketplace tech vendor partnership
Let's Talk Payments
JULY 6, 2017
Yesterday’s news of the prospective $9.9 billion-dollar merger between acquirers Vantiv and WorldPay may be just more noise in the cacophony of FinTech M&A. But we FinTech geeks want to.
PYMNTS
JULY 6, 2017
With the vast number of bankruptcy filings and department store closure announcements over the past year, it’s safe to say the retail industry has taken a hit in the digital age. As the retail revolution continues to undergo its transition in today’s eCommerce-driven era, shopping malls are getting the brunt of the financial impact. Big box retailers like Macy’s and Sears are closing at various locations, and mall owners are filling their voids with expensive upgrades.
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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.
Bobsguide
JULY 6, 2017
We’re at something of an inflection point in the payments landscape. It’s pretty clear that the arrival of PSD2 and Instant Payments will significantly disrupt retail payments, and the media has been awash with the “what ifs” However, the debate has lacked any concrete data.
PYMNTS
JULY 6, 2017
A new United Nations (U.N.) survey on cybersecurity found Singapore is taking a close to perfect approach at the same time that rich countries have a lot of gaps in their security defenses when it comes to defending against cyberattacks. According to a news report in Reuters , citing the results of the survey, the U.N. also found that some of the world’s poorer countries are showing their richer counterparts how security should be approached when safeguarding computing systems.
Let's Talk Payments
JULY 6, 2017
Following the announcement of the Open Talent Identity champions, the world’s biggest challenge for FinTech startups – BBVA Open Talent 2017 – unveiled the finalists for its 2017 Open Talent.
PYMNTS
JULY 6, 2017
As the saying goes — in sports, mob movies and for just about every other endeavor where competition and jockeying for top dog are part of a day’s work — Go big or go home. So it is, was and seemingly will be with U.S. card processing giant Vantiv’s acquisition of Worldpay, which is based in the United Kingdom, in a deal that is worth about $10 billion.
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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.
BankNXT
JULY 6, 2017
Life insurance incumbents shouldn't underestimate the innovation potential inherent in smart contracts, say Oliver Bussmann and Florian Herzog. Blockchain and life insurance – ripe pickings on BankNXT.
PYMNTS
JULY 6, 2017
Omise, a fintech startup headquartered in Thailand, has raised $25 million in new financing via a coin offering. According to a report in TechCrunch , the financing came via a so-called token sale, otherwise known as ICO. With the round of fundraising, the report noted, it is the most established technology company to raise money in that way. An ICO is a initial coin offering in which the company trades future cryptocoins for cryptocurrencies that can be liquid immediately.
Payments Source
JULY 6, 2017
The new ATMs cut fraud risk by minimizing password-exposure, but it’s unclear whether large numbers of consumers are ready to change five decades of inserting a plastic card to get cash.
PYMNTS
JULY 6, 2017
Breaking mobile order ahead news: it’s not just for food anymore. Walmart is now letting customers place orders on its website and pick them up at a designated Pickup Tower in select stores. The Tower holds, retrieves and dispenses online orders by scanning a barcode displayed on the customer’s smartphone screen. It requires no employee direction at all and, of course, no in-store shopping.
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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.
Bobsguide
JULY 6, 2017
Patrick Tans, Senior General Manager, Banking Products, at KBC Bank was a panellist at The European Payment Summit 2017, and stated that banks were facing the biggest upheaval to their industry for over 600 years. But how does the industry feel about the shift in regulation? We spoke to senior.
PYMNTS
JULY 6, 2017
While the retail industry is undergoing a digital revolution, many merchants are feeling financial pressure. One of the latest retailers to file for Chapter 11 bankruptcy protection is high-end denim company True Religion Apparel. The premium denim retailer recently announced plans to file in the District of Delaware U.S. bankruptcy court, and also signed a restructuring agreement with most of its lenders.
Payments Source
JULY 6, 2017
Long wait times and improved marketing are a couple of reasons retailers should consider their own apps, writes André Stoorvoge, director of product marketing for payments at Rambus.
PYMNTS
JULY 6, 2017
Can Walmart give Amazon a run for its eCommerce money? Probably not. But it can keep the eCommerce giant from gaining an eMonopoly, at least as an online marketplace. “Online shopping is all about where people are going,” said Frank Poore, president and CEO of CommerceHub, which helps retailers and brands sell online. Brands “don’t want to have too much concentration in any one channel,” he said; they like to diversify to protect themselves.
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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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