Bank Innovation
SEPTEMBER 25, 2017
The United Kingdom is one of the largets fintech hubs of Europe, so it is only fitting that U.K. businesses are taking advantage of the benefits the industry has to offer. One of those major benefits is cutting costs. According to a survey conducted by London-based business finance company MarketInvoice, released today, U.K. businesses that […].
Chris Skinner
SEPTEMBER 25, 2017
My good friend Slava of Life.SREDA has just written a book called The First Fintech Bank’s Arrival. You can buy it for 9,99$ on Amazon or download for free on www.ariv.al. He’s also shared a chapter with me, and I thought it interesting so here is to sharing. Fintech for the … The post Fintech for the Snapchat generation appeared first on Chris Skinner's blog.
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Bank Innovation
SEPTEMBER 25, 2017
EXCLUSIVE – E-money app, deVere Vault, today added the Australian dollar and 21 other currencies to its growing repertoire of now 27 currencies, as the fintech continues to expand its products and customers since its launch a few months ago. Among the other currencies added are the Canadian dollar, Chinese yuan, Japanese yen, Mexican peso, […].
Chris Skinner
SEPTEMBER 25, 2017
Things we’re reading today include … J Coin: Japanese banks’ virtual currency without the volatility City firms urge free trade agreement for financial services after Brexit Bank of England warns of ‘pockets of risk’ to growing £200bn consumer debt pile Redundancy payout nightmare after bank transfer error sends stranger money … The post Things worth reading: 26th September 2017 appeared first on Chris Skinner's blog.
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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
SEPTEMBER 25, 2017
Even after shutting down dozens of bitcoin exchanges and banning bitcoin executives from leaving its borders, the“mouthpiece” for the People’s Bank of China, Financial News, published an article declaring that Beijing should “accelerate the process of launching a digital currency after it curbed the risks of [en]cryptocurrencies.” Furthermore, last week, China’s Ministry of Information and Technology […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
SEPTEMBER 25, 2017
EXCLUSIVE — Automating the simple process of consumer payments took years, and automating the complexities of business-to-business payments (including getting rid of the paper check) could take decades. With a new B2B platform for electronic invoicing and payments, JPMorgan Chase and Bill.com are hoping to give that innovation a jump start. “The fact is that […].
PYMNTS
SEPTEMBER 25, 2017
While there has been lots of talk about robots stealing jobs and prompting layoffs of American retail workers, most people probably weren’t thinking accountants would be first on the chopping block. But, as it turns out… Sam’s Club has announced news that it is cutting 700 back-office retail positions at its U.S. brick-and-mortar locations as the company attempts to gain more control over costs and improve efficiency in its operations.
Bank Innovation
SEPTEMBER 25, 2017
Alternative lending startup Prosper raised new funding in a Series G last week, with the $50 million round bringing its equity funding. However, the new capital — driven by Hong Kong-based FinEx ASIA and LPG Capital — brought the company’s valuation to $550 million, a sharp step down from the P2P lender’s previous valuation. Prior […].
PYMNTS
SEPTEMBER 25, 2017
WeChat, the Chinese messaging app owned by Tencent, confirms it provides information about users to the Chinese government. According to a news report , the company has released an update informing users that all the private information of customers will be disclosed to authorities in China. With more than 662 million users, WeChat is the leading app in the country and one of the largest around the globe.
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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
SEPTEMBER 25, 2017
Publicly traded Danish payments processor Nets on Monday received a 33.1 billion Danish crown ($5.3 billion) takeover bid from U.S. private equity firm Hellman & Friedman. If the bid is accepted, the transaction will mark one of the largest PE takeovers in Europe in recent years, according to Reuters. For the offer to be accepted, […].
PYMNTS
SEPTEMBER 25, 2017
And just like that, there will be no new ownership structure for Facebook. Several financial news outlets, including CNBC , released news that a new class of stock will not be issued that would have let CEO Mark Zuckerberg maintain voting control of the company. That proposed ownership, according to reports, would have changed in the wake of Zuckerberg’s sale of millions of shares in the recent past to help fund his philanthropic efforts.
Bank Innovation
SEPTEMBER 25, 2017
Australia has become the second largest market for alternative lending due to the country’s favorable regulations for lenders. This is according to new data by financial regulator KPMG, in tandem with the Australian Centre for Financial Studies, which shows that the market grew over 50% within the last year. It’s now following close behind China, […].
PYMNTS
SEPTEMBER 25, 2017
Lyft, the Uber rival, is eyeing the London market, holding talks with Transport for London (TfL) and City Hall officials over the past year. According to a news report in The Telegraph citing freedom of information records, while the talks don’t state Lyft is getting into the U.K. market, they do show it has an interest in that market and in the city’s transport policy.
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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.
Let's Talk Payments
SEPTEMBER 25, 2017
Debt collection is definitely not the sexiest segment in the financial services industry. To be honest, the experience just straight-forward sucks for everyone involved in this horrendous process – lenders.
PYMNTS
SEPTEMBER 25, 2017
According the National Retail Federation (NRF), Halloween this year will see record-breaking shopping numbers. More people will be celebrating, which will mean bigger spend on Halloween costumes, candy and pumpkins in 2017 than in previous years. The NRF is forecasting the whole shebang will cost approximately $9.1 billion, up 8.3 percent from last year’s previous record of $8.4 billion.
Let's Talk Payments
SEPTEMBER 25, 2017
Japan FinTech Summit Week “Fin/Sum,” organized by FSA (regulator), banks, Nikkei, and the FinTech Association of Japan, was great learning for me – I met some great people. Japanese people are.
PYMNTS
SEPTEMBER 25, 2017
Alipay , China’s leading third-party online payment solution, has partnered with Norway’s tourism promotion agency to provide better services to Chinese tourists traveling in the Nordic country. Norway is just the latest country to offer Chinese tourists the convenience of using Alipay, which is owned by China’s Alibaba Group. The mobile payment service boasts more than 500 million registered users and plans to grow that number to exceed 2 billion within the next 10 years.
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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
SEPTEMBER 25, 2017
Cross-border trade represents one of the biggest business opportunities available to merchants from around the globe. Recent estimates have the cross-border market growing from $401bn in 2016 to $994 billion in 2020. Nearly two-thirds of cross-border business will come from high growth markets such.
PYMNTS
SEPTEMBER 25, 2017
The era of price adjustments and price matching has ushered in an uncontestable series of wins for consumers. Instead of searching a few dozen sites to make sure someone else doesn’t have an item for a lower price, or having to wait a few days in case a big sale is around the corner, consumers can hit “buy” with confidence, relying on the fact that retailers are increasingly willing to match a competitor’s price or refund money back if a big sale comes up within a certain time window (usually 14
Bobsguide
SEPTEMBER 25, 2017
The age-old debate of buy vs build passionately divides many in the asset management industry. There is, and always will be, a time and a place for both. But in today’s fast paced global market, the case for innovative and security managed investment technology solutions is becoming even more.
PYMNTS
SEPTEMBER 25, 2017
Add the Consumer Financial Protection Bureau to the list of federal agencies expected to punish Equifax for the massive security breach that exposed the personal data of around 143 million Americans. According to a Reuters news report, the consumer finance watchdog, created after the 2008 financial crisis, will utilize the wide-ranging powers it has used with Wall Street to come down on Equifax.
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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
SEPTEMBER 25, 2017
TSYS has announced the resignation of Pam Joseph, less than 17 months after she joined the Columbus, Ga.-based company as president and chief operating officer.
PYMNTS
SEPTEMBER 25, 2017
Amazon has announced news that it is investing in Shoppers Stop, Ltd. , an Indian retail firm looking to boost revenue and increase its store count by 25 percent. In exchange, Amazon gets to broaden its in-nation reach to smaller Indian towns as it attempts to influence commerce in the second most populated nation on Earth. The investment — worth 1.8 billion rupees ($28 million) — will leave Amazon with a 5 percent stake in the retail company.
NCR
SEPTEMBER 25, 2017
With PSD2 just around the corner, the financial services sector in Europe could be on the brink of a new era of choice for consumers and competition between providers. In the UK – which has been one of the markets taking the lead in the drive towards open banking – the Financial Conduct Authority (FCA) has made proposals for banks to publish key pieces of information about their services.
PYMNTS
SEPTEMBER 25, 2017
While for many adults, fashion is a passion, for teenagers, fashion can be a way of life. UsTrendy wants to support their lifestyle. The eCommerce fashion marketplace is, by its own description, “the world’s largest independent and boutique clothing site.” A quick click on that link demonstrates that the fashion on display absolutely lives up to the “Girls just wanna have fun” motto that greets visitors to the website.
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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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