Bank Innovation
JULY 10, 2018
Consumers want to engage with banks on an omnichannel level, and right now, the mobile channel seems to be the most popular. The percentage of “mobile-dominate” customers, who prefer to bank from their smartphones, has increased from 10% to 15% of consumers YoY, according to a June 2018 report published by Price Waters Cooper. Mobile […].
Chris Skinner
JULY 10, 2018
I find it quite surprising to see statistics around ICOs, such as the fact that $13.7 billion has been raised by ICOs so far this year alone. $13.7 billion! In what? Well, the 10 biggest ICOs this year are: Telegram: $1.7 billion Dragon: $320 million Huobi: $300 million Bankera: $150.9 … The post Want a slice of an ICO? Watch out! appeared first on Chris Skinner's blog.
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Bank Innovation
JULY 10, 2018
If there is one way to describe Umpqua Bank’s innovation plans it would be “digital human,” according to the bank’s new CEO, Cort O’Haver. Digital human, as O’Haver explained, is the marriage of digital innovation with the physical retail banking experience. (Coincidentally, it’s also the title of a Chris Skinner book.) O’Haver is not talking […].
Payments Dive
JULY 10, 2018
The former head of narrative and partnerships at Lowe's Innovation Labs is scheduled to give a keynote address at Networld Media Group's CONNECT: The Mobile CX Summit in Chicago next month.
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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
Bank Innovation
JULY 10, 2018
“Innovation” is a term that is frequently used to describe fintech businesses, whether it’s an innovative culture, an innovative product, or how they’re creating innovation within the industry. With the fintech space dominated by startups it isn’t surprising that innovation is thriving, after all, it’s much easier for new businesses with a small team, developing […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JULY 10, 2018
Google Pay took another step closer to P2P rivals Venmo, Zelle, and Square Cash by introducing a bill-sharing and splitting service today. The new feature, one among several, arrived as Google combined its P2P app (Google Pay Send, which is no more) with Google Pay, its general payments app. Google has shuffled its payments apps several […].
PYMNTS
JULY 10, 2018
Entrepreneurs are, as a rule, pretty excited about their ideas. They almost have to be, since the journey from idea to instantiation is arduous under the best circumstances. Only a true believer is likely to ever make it across the finish line, as the less convicted and committed are more than likely going to be worn down and out by the process itself.
Payments Source
JULY 10, 2018
A lack of standardization increases costs and complexity at each bank, opens the door to insecure solutions and hinders adoption by software developers that only have bandwidth to write to one or two open APIs, according to Steve Kirsch, CEO and founder of Token.
PYMNTS
JULY 10, 2018
With consumers demanding more choices, experts say that the unbundling of media – such as music, newspapers and television programming – is the future. At the same time, services like Zelle use a consumer’s mobile phone number to route funds , and platforms like Ingo Money allow companies to send funds to consumer accounts in real time. And, in retail, J.Crew ‘s smaller sister brand, Madewell , is growing because of its ability to think small to generate very large effects.
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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
Bobsguide
JULY 10, 2018
Over the past few years, financial market participants have come to rely more and more on third party tech vendors for a list of reasons. From risk management to trading to treasury and compliance, few financial firms don’t find themselves reliant on the expertise of the fintech community. But.
PYMNTS
JULY 10, 2018
Mastercard and EU FinTech Strands are collaborating on a cash management and corporate payments platform for banks, designed to address small business (SMB) needs. A press release on Monday (July 9) said the companies are deploying artificial intelligence (AI) technology, Strands Business Financial Management ( BFM ), to develop the solution, enabling small businesses to forecast cash flow, analyze finances and gain personalized recommendations on services from their banks.
Bobsguide
JULY 10, 2018
Regulatory changes and technological innovations lead banks to transform their business models to better manage risk, enhance client service and thus remain competitive, flexible and agile. In particular, the financial services organisations need to deploy a framework to support Basel III (for.
PYMNTS
JULY 10, 2018
Car dealers and auto groups want to put their vehicles on the information superhighway – and for good reason: According to a report from Bain & Company , nearly half of car buyers begin their process online. And consumers may prefer car dealerships that offer eCommerce options: Seven out of 10 consumers are more likely to choose a dealership that offers online car buying, according to car buying platform Roadster.
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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.
Payments Source
JULY 10, 2018
Once regarded as a safer option for consumers, BOPIS (buy online and pick up in store) has now joined the ranks of targets that cybercriminals are learning to exploit. It comes down to correctly identifying the shopper, writes Ryan Wilk, vice president of customer success at NuData Security.
PYMNTS
JULY 10, 2018
Following a positive reception from customers , Nordstrom Local announced two more Los Angeles locations for its hyperlocal retail concept. One store will be 1,200 square feet and located in Brentwood, while another will be a 2,200-square-foot store in the city’s downtown area. The concept may also expand to New York City, Fast Company reported. “We’ve got a young customer base that’s very engaged with our brand,” Ken Worzel, Nordstrom’s chief digital officer and Nordstrom.com president, told F
Payments Source
JULY 10, 2018
Companies of all sizes have attempted to serve kids and teens with prepaid cards or digital wallets with parental controls, but there are very few success stories. GoSave's twist is that it doesn't make a card or an app the focus of its experience.
PYMNTS
JULY 10, 2018
Google Pay is rolling out new features that, among other things, let users send and request money, through the merging of the Google Pay and Google Pay Send apps. In a blog post on Tuesday (July 10), Product Management Director Gerardo Capiel said that a slew of updates, which have just started rolling out, allow users in the United States to send and request money using the Google Pay app, a feature that will soon debut in the United Kingdom.
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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.
Bobsguide
JULY 10, 2018
Property and banking are intimately entwined, yet it is remarkable how little impact fintech has had on the property market - until now. With home ownership in England now at its lowest in 30 years and the average age of a first-time buyer now 32, it is no surprise that millennials have been.
PYMNTS
JULY 10, 2018
Order has returned to the universe, balance has returned to the force and the world makes sense again. The International House of Pancakes is back, as the experiment of International House of Burgers has come to an end. The restaurant, famous for its breakfasts, flirted with becoming IHOB as an attempt to promote its burger offerings. But thankfully for eaters of the most important meal of the day, the experiment/publicity stunt has drawn to a close.
Payments Source
JULY 10, 2018
Brexit's implications for the U.K.'s technology industry are deepening political fractures, with no clear answer as to how startups fintechs and challenger banks can operate in the U.K. after it leaves the European Union.
PYMNTS
JULY 10, 2018
Emailage , the online fraud prevention startup that uses email addresses to assess risk, is expanding its operations in the Canadian market. The company recently brought Julien Phipps onboard as a senior business development director. Phipps said that the expansion is “an opportunity for us to leverage the work that we’ve been doing with email at [the] core of our solution.”.
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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
JULY 10, 2018
FundKite executives watched the small-business lending sector evolve — and determined that the trend of mobile point of sale providers offering loans and cash advances was limiting the market.
PYMNTS
JULY 10, 2018
On Tuesday (July 10), L Catterton Asia, the Asian unit of consumer-focused private equity firm L Catterton , and Chinese retailer JD.com announced a strategic partnership with Secoo Holding Limited, one of Asia’s online integrated upscale products and services platforms. Through the partnership, L Catterton Asia and JD will invest $175 million in Secoo, the companies said in a press release.
Payments Source
JULY 10, 2018
When GDPR went into effect in May, it was expected that the European law would touch a lot of U.S. payment companies because of their international scope. Now it's clear that even purely domestic U.S. firms will have to adhere to some version of the data-privacy law.
PYMNTS
JULY 10, 2018
Now that Whole Foods is part of the Amazon family , it probably comes as no surprise that it is joining the Prime Day party. In addition to the tiers of savings Whole Foods has been rolling out to Prime members over the last several months, a new addition is coming to the Prime goodie bag. This year, in celebration of the shopping holiday that Amazon invented, Prime members will get a $10 Amazon gift card for shopping at Whole Foods during the 36-hour shopping extravaganza.
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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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