Bank Innovation
OCTOBER 29, 2019
Digital banking brand Varo has 1 million customers, and is pushing ahead with plans to become a nationally-chartered bank early next year, CEO Colin Walsh told Bank Innovation Tuesday. The four-year-old company received conditional approval for a national bank charter from the Office of the Comptroller of the Currency in August, a process it initiated in […].
Payments Dive
OCTOBER 29, 2019
Uber unveiled Uber Money, a series of credit and debit producs that will provide additional benefits to drivers and incentives to encourage customer loyalty and financial wellness among employees and upping the market share game against rival Lyft.
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Bank Innovation
OCTOBER 29, 2019
Bunq, a digital-only banking brand based in the Netherlands, is on a path to grow its customer base through travel rewards and an underwriting formula for its credit card based on how much money a customer has in their account. The seven-year old company launched in the U.K. this month. Founder and CEO Ali Niknam […].
Payments Dive
OCTOBER 29, 2019
Find out how with the first year of their platform launch, Valyou saw 66% growth in their customer base, and now entering its third year of operation, has never had a moment of downtime.
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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
OCTOBER 29, 2019
The Financial Brand’s Jim Marous made some strong points in an earlier post titled, Becoming a ‘Digital Bank’ More Than Lipstick on a Legacy Pig. However, more emphasis should be placed on the urgency of the situation. Any banker who read his article and thought, “He’s right, I need to make some changes,” may already […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
OCTOBER 29, 2019
I’m acutely aware that so many people write and talk about how big banks are dumb and stupid and don’t get digital, that I try to avoid that mantra personally. People do accuse me of being a bank basher, but I’d rather say that I’m a bank challenger (not a … The post Some banks get IT appeared first on Chris Skinner's blog.
Payments Dive
OCTOBER 29, 2019
Augmented reality (AR), virtual reality (VR), and 3D product visualizations can help e-commerce retailers enhance the customer experience, increase sales and decrease returns.
Bank Innovation
OCTOBER 29, 2019
You may not have heard of the term “Silicon Alley,” but I am sure you are aware of the game-changing financial technology that is emanating from it. “Silicon Alley” was initially coined in the mid-1990s as a way to group media startups housed around the Flatiron neighborhood of Manhattan. I hope that doesn’t give you […].
Chris Skinner
OCTOBER 29, 2019
Things we’re reading today include … Lloyds Bank creates inheritance mess for hundreds of bereaved families after wills storage blunder The next Bank of England governor will face another recession – and Brexit won’t help with that PPI hit could tip Lloyds Bank into red Barclays profits plunge as … The post Things worth reading: 30th October 2019 appeared first on Chris Skinner's blog.
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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
Bank Innovation
OCTOBER 29, 2019
Citizens Bank launched a partnership with Microsoft to provide consumer financing for the tech company’s Xbox All Access program, the bank announced Monday. The program allows Xbox customers to finance the latest Xbox console and have access to games through a loan with Citizens Bank. While the partnership enables Microsoft to reach more customers, for […].
Payments Dive
OCTOBER 29, 2019
Uber unveiled Uber Money, a series of credit and debit producs that will provide additional benefits to drivers and incentives to encourage customer loyalty and financial wellness among employees and upping the market share game against rival Lyft.
PYMNTS
OCTOBER 29, 2019
Venmo, the peer-to-peer (P2P) payments platform from PayPal, is rolling out a cash-back rewards program for its Venmo Mastercard debit card at certain retailers, Venmo announced in a press release on Tuesday (Oct. 29). Venmo Rewards is now offering 5 percent cash back at Target, Sephora, Chevron and Papa Johns, and 4 percent cash back at Dunkin’, Sam’s Club and more for a limited time.
Payments Source
OCTOBER 29, 2019
Many small banks remain skeptical of the payments network because it is owned and operated by big banks and they are waiting for the Federal Reserve to launch a rival service.
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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.
PYMNTS
OCTOBER 29, 2019
Workers of the world, unite. You have nothing to lose but your blockchains. Marx makes his mark, then, in the digital age. News came this week that, as reported via CoinDesk, in China there’s a new app, tied to blockchain, that lets Communist party members attest their party loyalty. In a decentralized and immutable fashion, of course. The Communist Party of China (CPC) debuted the app, which the report said translates to “Original Intentions Onchain.
Payments Source
OCTOBER 29, 2019
U.S. banks are trying to answer a key question about open banking: Can we share our data with payment companies and other fintechs without scrapping our legacy systems? The answer is yes, with an asterisk.
PYMNTS
OCTOBER 29, 2019
The self-driving future is not exactly here yet, but it’s coming quickly, at least based on some of the most recent moves in this space – a space that will impact payments and commerce much more as time goes on. The latest news comes from Waymo, a Google sibling owned by Alphabet. According to a report from Reuters , Waymo has “begun offering fully automated rides, without attendants in the vehicle, to a few hundred early users of its robotaxi service in Phoenix.
Payments Source
OCTOBER 29, 2019
As the number of payment types and channels increase, manual processes to handle fraud can rapidly become unmanageable, says The ai Corporation's Oliver Tearle.
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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.
PYMNTS
OCTOBER 29, 2019
A decade ago, an antiques dealer with a shop in Kenya couldn’t have imagined selling to customers in the U.K., or anywhere outside the confines of the domestic market in which their shop was located. Now, with the tap of a keyboard or click of an app, selling to customers outside one’s domestic market is not only possible, but has become vital for the antique shops, jewelry makers, artists and millions of small businesses (SMBs) in developing and emerging economies that see the world as th
Payments Source
OCTOBER 29, 2019
The two companies agreed to continue to collaborate on a prepaid card program until 2027. The deal holds particular importance for Green Dot, which relies heavily on revenue generated at the discount retail giant.
PYMNTS
OCTOBER 29, 2019
The share of consumers who own voice-activated devices has doubled as of 2017, with more of them using those devices to make purchases, listen to music or check the weather than ever before. And retail is driving hard toward its future thanks to connected vehicles, as automakers innovate with new tech. European car manufacturer Skoda , for instance, will be adding a virtual assistant to its vehicles , which will be accessible via vocal commands.
Payments Source
OCTOBER 29, 2019
As consumers are increasingly moving to mobile devices to conduct financial transactions, they are enticing fraudsters to follow them into the mobile channel, according to new research from TransUnion's iovation unit.
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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.
PYMNTS
OCTOBER 29, 2019
Amazon is allocating $631 million (?4,472.50 crore) to fund its Indian bureaus – Amazon Seller Services, Amazon Pay and Amazon Retail – after cutting earlier losses, Deal Street Asia reported on Tuesday (Oct. 29). Filings with the Registrar of Companies indicated that the online giant invested roughly $480 million (?3,400 crore) into its eCommerce marketplace Amazon Seller Services.
Payments Source
OCTOBER 29, 2019
Card processor i2C Inc. has formed an alliance with Ecard, a prepaid debit card targeting travelers that's accepted on both Discover and China’s UnionPay network.
PYMNTS
OCTOBER 29, 2019
Walmart and Green Dot have announced that they are going to develop a FinTech accelerator together and call it “TailFin Labs, LLC,” the companies said in a release. The accelerator will create new products, technologies and services that exist in the meeting place of retail shopping and consumer financial services. The new FinTech accelerator will focus on integrating omnichannel shopping with technology-enabled solutions for consumers and businesses alike.
Payments Source
OCTOBER 29, 2019
Finabler’s Xpress Money cross-border transfer service has partnered with Geoswift to enable consumers in global markets to send funds in real time to Chinese bank accounts.
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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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