Bank Innovation
SEPTEMBER 4, 2017
A recent report by Malauzai Software showed that new app growth rate among banks and credit unions has slowed down by 8% this year. This slow down is an indication that the market is saturated, according to the report. Nevertheless, this year had the highest number of mobile banking apps. The survey, which was conducted […].
Chris Skinner
SEPTEMBER 4, 2017
I’ve been spending a lot of time travelling around the LatAm markets over the past few years. In fact, I was just at the CIAB FELBAN FIBA conference in Miami that covers this geography and this year saw many firms from Nicaragua to Honduras to Costa Rica attend. But the major … The post The State of FinTech in Brasil appeared first on Chris Skinner's blog.
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Bank Innovation
SEPTEMBER 4, 2017
EXCLUSIVE — Shanghai-based online lender China Rapid Finance reported a 240% growth in consumer loan volume year-over-year and is expecting its continued focus on its target consumer base to continue that growth. The company, which last year became the second Chinese online lender to conduct a U.S. IPO, is aimed at servicing what it calls […].
PYMNTS
SEPTEMBER 4, 2017
Barclays, the U.K. financial firm, is having a tough go of it with its new DIY investment website , with customers facing all sorts of problems from not being able to log into accounts to missing transactions. According to a news report in The Financial Times , the new DIY investment website is a replacement for its stockbroking service, with it moving more than 200,000 customers over during the long weekend.
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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
Let's Talk Payments
SEPTEMBER 4, 2017
In Latin America and the Caribbean, there are 703 FinTech firms, 230 of which are in Brazil, according to a study by the Inter-American Development Bank (IDB) and Finnovista.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bobsguide
SEPTEMBER 4, 2017
bobsguide spoke to Dermot Harriss, Senior Vice President of Regulatory Solutions at OneMarketData, about how machine learning and new regulations are changing the landscape of trade surveillance, and how a balanced mix of data management via machine learning can reduce false positives and minimise.
PYMNTS
SEPTEMBER 4, 2017
The U.K. is leading contactless payments adoptions 10 years after the technology first emerged, according to a new report from Visa. The credit card company’s annual Digital Payments report, released Friday (Sept. 1) and sent to PYMNTS, found that two-thirds of the 2,000 consumers surveyed in the U.K. say they have used contactless card technology to make a payment since the technology was first launched in September 2007.
Let's Talk Payments
SEPTEMBER 4, 2017
For your right, to FinTech! I’m sure the Beastie Boys are grateful I wasn’t helping them write lyrics but, lately, FinTech – and tech generally – feels like a struggle.
PYMNTS
SEPTEMBER 4, 2017
In China, pearly whites may get you supper, at least at one KFC location in one Chinese city. Reuters recently reported customers at one of the firm’s outlets in Hangzhou will be able to pay for their meals with “Smile to Pay” biometric facial recognition technology. The payment method’s adoption is part of a movement by chain owner Yum China Holdings to bring in business from a younger consumer subset.
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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
SEPTEMBER 4, 2017
Traditional IT architecture involves segregated front-office and operational systems. Furthermore these systems can be specific to individual asset classes; equities, fixed income, derivatives and structured products. Products are increasing in complexity, and tighter regulations are requiring.
PYMNTS
SEPTEMBER 4, 2017
Instagram, the photo sharing social media network owned by Facebook, said late last week that a cyberattack impacted more people than it previously thought. According to a report in The Wall Street Journal , originally Instagram said hackers were able to steal email addresses and phone numbers of celebrity accounts but later said regular users were impacted from the security breach.
BankNXT
SEPTEMBER 4, 2017
Can regulations prevent a new world onslaught in financial services? Chris Skinner doesn't think so. Slow regulations versus fast tech on BankNXT.
PYMNTS
SEPTEMBER 4, 2017
Millions of Time Warner’s My TWC app users’ records were residing on a Amazon server in August that was not secure, according to news from Reuters. According to the report , which cited Kromtech Security Center, greater than four million records of users of the Time Warner app were found on the unsecured Amazon server in August. The files, according to the report, included information such as transaction ID, user names, MAC addresses, account numbers and serial numbers.
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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.
FICO
SEPTEMBER 4, 2017
Worried about increasing levels of fraud, particularly in remote payments, the regulators have made fraud prevention a cornerstone of PSD2. The regulated use of Strong Customer Authentication (SCA) by payment service providers (PSPs) to secure payments is laid out in the Regulatory Technical Standards for PSD2. However, the use of SCA to secure every payment over €30 could cause problems for PSPs.
PYMNTS
SEPTEMBER 4, 2017
A blockchain platform may be in the offing in India, courtesy of that nation’s central bank’s research arm. As noted by Finextra , that platform could be among tech offerings that could debut directly from the central bank. One glimpse into the timing of what might be coming down the pike comes from a report in the Hindu Business Times , where the director of the Institute for Development and Research in Banking Technology, AS Ranasastri, said at an awards event, that “We will be launching th
BankNXT
SEPTEMBER 4, 2017
Brett King, Travis Dulaney and Dan Gonzalez discuss mobile payments at the Mobile Payments Conference in Chicago. Breaking Banks at the Mobile Payments Conference on BankNXT.
PYMNTS
SEPTEMBER 4, 2017
First Data said Saturday that in the wake of the devastation of Hurricane Harvey, the company will send thousands of its Clover Go mobile credit and debit card readers to small businesses (SMBs) in Houston and the surrounding area. The devices are being offered free of charge to business owners who were hit by the hurricane, and service offerings, also free of charge, include free device installation and discounted pricing.
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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.
BankNXT
SEPTEMBER 4, 2017
Faisal Khan chats to Science Inc CEO and co-founder, Mike Jones, who talks about investing in blockchain, as well as previous business successes. Interview with Mike Jones of Science Inc on BankNXT.
PYMNTS
SEPTEMBER 4, 2017
Paying via coins is all the rage these days, thanks to the skyrocketing price of bitcoin , but paying in Chuck E. Cheese tokens is taking it a little too far. But that’s exactly what is going on at a library in Danvers, Massachusetts. According to a news report, the Peabody Institute Library is asking all patrons to refrain from paying their library fines in Chuck E.
FICO
SEPTEMBER 4, 2017
This is the third in a series of blogs on deposit pricing , focusing on price elasticity modelling approaches and challenges. The goal of any deposit price optimization solution is to make data-driven pricing decisions to manage portfolio balances and trade these off against the associated costs. These solutions should allow a pricing manager to prepare and run what-if analyses to assess the impact of pricing strategies, competitor price actions or movements in central bank base rates.
PYMNTS
SEPTEMBER 4, 2017
The recommerce trend is sweeping not just the nation, but perhaps the world. As more Americans become accustomed to buying pre-owned or returned items from other consumers or businesses, the practice is moving abroad and is growing swiftly in China. Chinese consumers have demonstrated interest in the recommerce field, but the category is still growing and doesn’t yet include a particularly large group of players.
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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.
The Banker Technology
SEPTEMBER 4, 2017
Chris Skinner was invited to join Alibaba’s annual Netrepeneurs conference in Hangzhou, China, for star sellers on Alibaba’s Taobao platform. He reports on Ant Financial, the Alibaba spin-off that operates mobile payments app Alipay.
PYMNTS
SEPTEMBER 4, 2017
Scandinavian payments processor Nets might be headed for a massive buyout. Friday (Sept. 1) reports in the Financial Times announced the company could be acquired for $5 billion, with U.S.-based private equity firm Hellman and Friedman as the current likely acquirer. Nets went public last year in an IPO that valued the company at $4.5 billion or even more, by some estimates.
The Paypers
SEPTEMBER 4, 2017
(The Paypers) Worldline ’s subsidiary, equensWorldline, has been selected by three major banks in the Netherlands as their main infrastructure provider for Instant Payments.
Bankelele
SEPTEMBER 4, 2017
The Supreme Court rules for presidential petitions were tried and tested in 2013. Virtually every Kenyan is affected by some unresolved judiciary court case, whether it’s a commercial dispute, employment, land, traffic, inheritance, bank loans and so on. Disputes between borrowers and banks should not drag on for so many years that they incur legal, […].
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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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