Chris Skinner

OCTOBER 10, 2018

Someone asked me about getting return on investment in fintech. The discussion is about how many firms are actually delivering on their promise. So many unicorns are loss-making firms, and billion-dollar valuations on million-dollar revenues seems like a lot of hype. One article typified this feeling: High-society fintech under pressure … The post Why P2P lending works in some markets and not in others appeared first on Chris Skinner's blog.

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Bank Innovation

OCTOBER 10, 2018

Banks have been at the forefront of cybersecurity for years, investing heavily to protect some of their clients’ most valuable and sensitive information. Such heavy investment in cybersecurity is increasingly the cost of doing business in financial services, but it also presents an opportunity for banks to generate a return on that investment by earning […].

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Chris Skinner

OCTOBER 10, 2018

I was recently asked to write an essay for the Center for Financial Inclusion, as part of a series looking at the ingredients to get this right. They gave me the topic of getting the infrastructure right. Here’s what I wrote: Getting the Infrastructure Right for Financial Inclusion The world … The post Getting the Infrastructure Right for Financial Inclusion appeared first on Chris Skinner's blog.

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PYMNTS

OCTOBER 10, 2018

Bitcoin miners have around $4.7 billion in revenue in 2018 — but because of the cost of electricity, miners are failing to make a profit. TheNextWeb , citing blockchain research firm Diar , reported that based on the data, this marks the first time cryptocurrency mining businesses aren’t making money off their bitcoin mining efforts. According to the report, as it stands, bitcoin miners make 54,000 BTC each month for processing the mining blocks.

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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

Lending

Payments Dive

OCTOBER 10, 2018

Enabling merchant acceptance of digital payments is a key element of the overall development of the DFS ecosystem.

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Payments 210

Chris Skinner

OCTOBER 10, 2018

Things we’re reading today include … UBS investigates second sexual assault allegation ‘McMafia’ law: woman who spent £16m at Harrods is jailed banker’s wife Bank staff playing hide and seek spark armed robbery scare Bank of England to face MPs over rise in bullying and harassment cases FCA steps up … The post Things worth reading: 11th October 2018 appeared first on Chris Skinner's blog.

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PYMNTS

OCTOBER 10, 2018

Like most innovators, Arielle Charnas was looking to solve a problem when she launched her fashion blog – it just wasn’t a fashion problem. It was a boy problem: Namely, she was trying to impress an older guy she was seeing who had said the thing he found most appealing in a woman was entrepreneurship. Charnas, based on a tip from her sister, decided to start a fashion blog in 2009.

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Bank Innovation

OCTOBER 10, 2018

Standard Chartered and telecommunications giant Huawei announced today they've jointly developed an internet of things (IoT) solution that could change how companies communicate with banks for financing or payments. Standard Chartered, a London-based multinational banking group, said corporate clients still tend to communicate with banks though instructions on paper or by email, which can be slow and […].

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PYMNTS

OCTOBER 10, 2018

Ridesharing company Uber is considering getting back into the grocery delivery game. CEO Dara Khosrowshahi said that due to the company’s success in the delivery of food, which reached $6 billion in bookings earlier this year, it makes sense to take another look at the grocery market. “With Eats, we’re getting into the business of moving food around.

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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

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Bank Innovation

OCTOBER 10, 2018

Robinhood said today it has spent two years building its own trade clearing system from the ground up, and says it is the first such system built in the industry in the last decade. The move comes alongside the lowering of certain fees, such as bank reversals ($30 down to $9), and will certainly bring higher […].

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PYMNTS

OCTOBER 10, 2018

Now, it seems, interest rates have garnered some, well, interest. It has been barely a week since the Federal Reserve boosted interest rates by a quarter point. It’s the latest move in a series of rate hikes that have been well-telegraphed and well-choreographed. The Fed has been gradually increasing its fed funds rate over a period of a few years. The latest move took that rate, which is what is charged to banks as they lend to one another, to 2.25 percent.

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Cards Course Operations Lending 162

Payments Dive

OCTOBER 10, 2018

FSS Payment Gateway powers online holiday sales for leading acquirers and merchants globally.

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PYMNTS

OCTOBER 10, 2018

Welcome to The Axis, your look at payments news from around the world. Coverage includes The Western Union Company’s roll out of high-value digital transfers from the U.K. In addition, Gap Inc. has tapped Adyen for online and in-store payments in Europe , and the Bangalore Metro Rail Corporation in India is at work on a quick response (QR) code ticketing system.

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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.

Lending

Payments Source

OCTOBER 10, 2018

The cryptocurrency boom has encouraged attackers to expand their focus from other methods such as utilizing malware to steal data and impose ransoms or launching a disruptive DDoS attack, to employing tools and techniques to gain access to the computing power of enterprises to generate cryptocurrency payouts, writes Carolyn Crandall, chief deception officer at Attivo Networks.

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PYMNTS

OCTOBER 10, 2018

While children are sitting in schools studying the “real” three Rs (reading, writing and arithmetic), payments peeps will be looking at the local version: risk, rewards and real time. What all three have in common is being on the rise. Businesses want to get paid and get paid faster (or instantly, if possible), and are willing to go the distance to make it happen.

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Bobsguide

OCTOBER 10, 2018

Digitization is everywhere – it’s a topic for virtually every industry forum, banks are either committing to ‘digital everything’ strategies, appointing digital banking chiefs or increasing their technology budgets.

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PYMNTS

OCTOBER 10, 2018

Consumers expect to be met with technology wherever they go, and quick-service restaurants (QSRs) are no exception. When it comes to ordering meals, they want to be able to do so with as little fuss as possible. That means being able to use features, like online and mobile app ordering and self-service kiosks, that make ordering faster and more convenient.

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Innovation Customer Experience Data America 152

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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.

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Bobsguide

OCTOBER 10, 2018

Rachna Ahlawat, EVP and co-founder of Ondot Systems, expressed concerns about how Open Banking could take the one click payment process to something more cumbersome for consumers at this week’s PayExpo conference, in central London. “With the Open Banking initiative and having to.

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PYMNTS

OCTOBER 10, 2018

What’s the key to a great customer experience? For a growing group of online and mobile platforms, the answer lies in the pursuit of seamless payments. In the latest Payments Powering Platforms Tracker , PYMNTS explores the latest efforts from industry giants and platform powerhouses around the space to improve their payment experiences and make their offerings more enticing to consumers.

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Payments Source

OCTOBER 10, 2018

While the fintechs that offer merchant loans usually argue they’re lending to the ultra-small businesses that banks don't serve, competitive forces will bring the technology companies deeper into banks’ domain.

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PYMNTS

OCTOBER 10, 2018

The Travelers Companies announced Wednesday (Oct. 10) that it has teamed up with Amazon to offer smart home kits, insurance and risk management information through a digital storefront on Amazon, at Amazon.com/Travelers. In a press release , the companies said the smart home kits will be offered at discounted prices to Traveler customers, and are aimed at helping to protect homeowners from the most common causes of loss, including theft and flooding.

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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.

Compliance

Payments Source

OCTOBER 10, 2018

For all the media attention around the best options for cardholders when making transactions abroad, there's little focus on the lack of transparency on the costs involved with making a purchase in the local currencies where Visa, Mastercard and the issuers manage the conversion, argues Gino Ravaioli, chairman of the DCC Forum.

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PYMNTS

OCTOBER 10, 2018

The European Commission announced Wednesday (October 10) that it plans to provide European Union states with guidelines for handling national schemes to sell passports and residency permits to wealthy foreigners. Reuters , citing the European Commission, reported that the move comes as lawmakers and those running for office have been raising concerns about money laundering.

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Payments Source

OCTOBER 10, 2018

Natixis SA’s payments business is exploring a potential takeover of the 4 billion-euro ($4.6 billion) French fintech company Ingenico Group SA, following a string of deals in the sector.

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Payments Groups Fintech Company 68

PYMNTS

OCTOBER 10, 2018

Waze Carpool, the Google-owned app that connects people with rides, announced Wednesday (Oct. 10) that the service is now available nationwide. In a blog post , Waze Carpool said it now has 110 million monthly active users globally, and that every month, more than 12 million Waze users report over 60 million incidents. But with traffic getting worse, it has expanded its carpool service after testing it over the past few months. “We’ve all experienced that moment when you’re sitting helples

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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.

Lending