Bank Innovation
OCTOBER 16, 2017
Russian Minister of Communications and Mass Communications Nikolai Nikiforov has announced that the Russian state will “quickly” issue its own cryptocurrency, called the “CryptoRuble,” as reported by the Russian publication AIF. One segment of Nikiforov’s statement, according to CryptoCoinsNews, reads as follows: I so confidently declare that we will launch the CryptoRuble for one simple […].
Chris Skinner
OCTOBER 16, 2017
I recently stumbled across a marketing campaign being run by UBS, which tries to answer the hardest questions in the world. The questions cover everything from equality to politics and, to illustrate what they are debating, here are a few examples: Why is there such a big gap between the richest … The post Answering the hardest questions in the world appeared first on Chris Skinner's blog.
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Bank Innovation
OCTOBER 16, 2017
EXCLUSIVE— IBM is continuing its momentum in fintech this time with a focus on international payments and distributed ledger technology, by launching a solution for global payments on the blockchain today. “We are launching a controlled production pilot of a cross-border platform, it provides [money] movement in near real-time, all on the same network,” Jesse […].
Chris Skinner
OCTOBER 16, 2017
Things we’re reading today include … A Bank of England rate hike would be ‘extraordinary’ step for Britain’s Brexit economy As the quartet breaks up, central banking leadership flux looms Lloyds shareholders’ court case over HBOS takeover set to begin Can the UK make the most of sukuk, the Islam-compliant … The post Things worth reading: 16th October 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
OCTOBER 16, 2017
EXCLUSIVE -Payment card issuing platform Marqeta will be launched in Canada next month and Europe in 2018, Marqeta’s CEO, Jason Gardner told Bank Innovation. Based in Oakland, Calif., Marqeta uses open API technology to process payment cards, virtual cards and mobile authorization products. Its platform allows developers to issue digital cards, load and lock them, […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
OCTOBER 16, 2017
Fintech Deals in Q2 this year are on a rise compared to Q1 and an overall slow 2016, according to recent report by KPMG. According to the latest KPMG Pulse report, the second quarter saw a total of $8.4 billion in global investment in fintechs, a number that is nearly double the amount in the […].
PYMNTS
OCTOBER 16, 2017
From an acronym known mostly by programmers in the early 2000s to something thousands of innovators have embraced to ignite numerous innovative solutions, it’s been an electric journey for the application program interface (API). According to David Koch, chief commercial officer at financial services provider FI.SPAN — a company that build an API-based platform to connect FinTechs and corporate customers to financial institutions (FIs) — APIs have unleashed an incredible number of opportunities
Bank Innovation
OCTOBER 16, 2017
Multinational tech mogul IBM is working with blockchain startup Stellar to establish a cross-border payment system, which will allow banks to use the technology. By using this technology, banks will be save both time as well as costs on the transfer process. With its own cryptocurrency, called Lumen, Stellar uses blockchain technology to connect fiat […].
PYMNTS
OCTOBER 16, 2017
In South Africa, where cash still reigns and there are few signs of merchants and consumers moving away from paper and coin payments, small- and medium-sized businesses (SMBs) face several payments dilemmas. Many are unable to accept credit cards, and many cannot afford the mainstream point of sale (POS) terminals and solutions — which can also take a very long time to procure.
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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
OCTOBER 16, 2017
Digitization is very topical at the moment, it has triggered many conversations and its impact in banking has been hotly debated. Financial services seem to be ripe for disruption by the new breed fintech companies for a number of reasons including rapidly evolving customer preferences, declining.
PYMNTS
OCTOBER 16, 2017
Facebook has officially announced a new feature allowing its U.S. users to order food from local restaurants through the Facebook app. According to TechCrunch , the social media giant has decided not to compete directly with other food ordering services. Instead, Facebook is partnering with several industry players, including EatStreet, Delivery.com, DoorDash, ChowNow, Olo, Zuppler and Slice, as well as restaurant chains like Jack in the Box, Five Guys, Papa John’s, Wingstop, TGI Fridays, Denny’
Gonzobanker
OCTOBER 16, 2017
The card processing landscape experienced significant changes in 2017, and this shift in players will impact financial institutions well into the future. What follows is a list of the vendors Cornerstone sees in 85% of our card selection projects. PSCU and Jack Henry Card Processing Solutions (JHA CPS). JHA had been searching for a processing partner for over a year because its platform was lacking in product innovation.
PYMNTS
OCTOBER 16, 2017
Venmo has a new creative campaign, but if you like it, don’t rave about it — just _ them. That’s how the FinTech’s new creative content is structured. It’s called the “Blank Me” campaign. According to Venmo’s Head of Marketing, Kasia Leyden, the idea is to put users’ stories front and center, making the money transfer company the only brand that can fill the blank in whatever occasion they’re sharing.
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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
OCTOBER 16, 2017
Panel discussion: Helping your clients manage changes in the payments industry. Moderator Edmund Esch, Managing Director and Head of Strategy at BNY Mellon, quizzed panellists on how global initiatives can modernize the payments industry. He kicked off the discussion by asking panellists Tomas.
PYMNTS
OCTOBER 16, 2017
Last week, P2Bi announced the rollout of a new partnership program that enables community banks to participate in its small business loan marketplace. Community banks are typically a better bet for small businesses in search of a loan, with approval rates higher than those at larger financial institutions. But the latest data on SMB lending in the U.S. suggests a shift is ahead.
Let's Talk Payments
OCTOBER 16, 2017
McDonald’s, globally one of the most visible brands, has more than 36,000 restaurants in 120 countries and revenues of more than $24 billion. While we may ridicule the gastronomical sophistication.
PYMNTS
OCTOBER 16, 2017
JPMorgan’s CEO Jamie Dimon is at it again – he’s slamming bitcoin, the popular digital currency, just weeks after receiving flack for calling it a fraud. During an Institute of International Finance conference late last week, Dimon was asked a question about bitcoin and responded by saying, “If you’re stupid enough to buy it, you’ll pay the price for it one day.” This came just one day after Dimon said on an earnings conference call that he was no longer going
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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.
Let's Talk Payments
OCTOBER 16, 2017
Shane Williams, Co-founder of UBS SmartWealth, shares the experience of launching a robo-advisory service inside a large bank, covering choices between build or buy, in or outside the organization (setting.
PYMNTS
OCTOBER 16, 2017
Grubhub , a mobile food ordering and delivery platform, is expanding its range of delivery and catering options once again, this time by announcing news of a partnership with another national leader in food services: BJ’s Restaurants and Brewhouse. BJ’s Restaurants, Inc., operates a nationwide chain of casual dining restaurants offering a diverse range of menu items.
Bobsguide
OCTOBER 16, 2017
Key takeaways. Traditional banks will survive digitisation in some form, but have to adapt and in some cases specialise. Some banks will adapt faster and better, meaning that the banking landscape will be more diverse with different banks taking different roles. Technologies such as cloud.
PYMNTS
OCTOBER 16, 2017
Rent the Runway is test-driving an updated version of their fashion subscription program, which will give their customers access to a lower price point plan to experiment with a variety of new looks. The updated clothing rental program will give customers a chance to subscribe for $89 a month — as opposed to $139 (the price on the plan rolled out about a year ago) — and will give them access to four items of women’s fashion, excluding some designers.
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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
OCTOBER 16, 2017
In one of the livelier panel discussions on Day One of Sibos 2017, Stefan Dab, Senior Partner and Managing Director at The Boston Consulting Group led a conversation examining the future of correspondent banking, and specifically the pain points corporate treasurers face in their cross-border.
PYMNTS
OCTOBER 16, 2017
[link]. Tokens are nothing new. PCI tokens, encrypted card credentials held in vaults by processors, have been part of payments for years. But version 2.0 of the EMVCo ’s Payment Tokenization Specification, announced last month, is out to change that. Call it an upgrade, perhaps, as it focuses on eCommerce and is geared toward reducing fraud associated with primary account numbers (PANs), Rambus’ CTO Chakib Bouda explained in the latest Topic TBD.
Payments Source
OCTOBER 16, 2017
The information you need to start your day, from PaymentsSource and around the Web: Equifax may lose its IRS contract; A cheaper smart contract; Reseller Meesho draws funds; London's fintech status holds for now.
PYMNTS
OCTOBER 16, 2017
It appears that retailer Nordstrom will remain on the public markets after all, as members of the Nordstrom family have informed the board they have suspended efforts to take the retailer private for the remainder of the year. According to reports from CNBC, Nordstrom shares were down 5 percent in premarket trading following the news. The Nordstrom family directly controls 31.2 percent of the 116-year-old retail firm and has been seeking an avenue to take the chain private since June, CNBC repor
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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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