Bank Innovation
SEPTEMBER 19, 2017
EXCLUSIVE — Standard Bank Group, the largest bank in Africa, has joined the INV Fintech accelerator program as a partner, INV announced today. INV is the sister accelerator of Bank Innovation. Standard Bank, headquartered in Johannesburg, South Africa, joins several financial services companies as INV partners. Partners participate in accelerator activities, including consider startups in […].
Chris Skinner
SEPTEMBER 19, 2017
I just got this commentary from a banker and thought it worth sharing … Bitcoin – Desperately seeking Satoshi Nakamoto By John Wyn-Evans, Head of Investment Strategy at Investec Wealth & Investment All the ingredients for life on earth were available in the primordial soup, but it took some unknown … The post A banker’s view of bitcoin appeared first on Chris Skinner's blog.
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Bank Innovation
SEPTEMBER 19, 2017
Americans are open to investing in, or at least learning more about bitcoin. However, a number of consumers are also growing more open to using the cryptocurrency as, well, currency: that is, using it for transactions and to make purchases, according to a survey conducted by LendEDU. The attractiveness of bitcoin as a currency varied […].
Chris Skinner
SEPTEMBER 19, 2017
I mentioned the Lego Bank not built by Lego recently. It’s all about the Open Marketplace of apps, APIs and analytics, and I said that the idea was illustrated well by firms like Solaris, Clear.bank and Bud. Just to follow on from that, here is a series of video interviews we … The post The Open Finance Marketplace in Action (six video interviews) 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 19, 2017
London-based direct debit provider GoCardless is having a good year. On top of transaction growth and expansion to new markets, the fintech has closed a new round of $22.5 million in new funding. The Series D, which was made of previous investors including Balderton Capital and Accel, doubled the fintech’s total equity, bringing it up […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
SEPTEMBER 19, 2017
Matt McGinty, chief revenue officer, Fiksu DSP, provides insight on why targeting shoppers via mobile, based on their shopping habits, can improve the consumers' relationship with the brand.
PYMNTS
SEPTEMBER 19, 2017
There’s one thing banks and FinTechs can agree on: Those old-fashioned merchant onboarding processes take way too long. But nimble FinTechs have been able to move much faster to address that compared to their lumbering legacy competitors, and that has often left traditional banks to watch as merchants turned to the FinTechs instead. Singaporean startup Jewel Paymentech is on the banks’ side.
Bank Innovation
SEPTEMBER 19, 2017
Google unveiled its mobile payment service, Google Tez, in India on Monday. Google Tez, is a Unified Payments Interface (UPI) app available on both iPhone and Android. According to NDTV, one the features that makes the app unique from other competitors in the market is its “Cash Mode” option, which lets users send money without […].
PYMNTS
SEPTEMBER 19, 2017
In restaurant news, the people have spoken and, apparently, they have had enough chorizo. That is the takeaway from Chipotle’s latest corporate decision , in which it chose to ax chorizo from its menu to make room for its new queso. The new offering rolled out nationally on Sept. 12. “When we decided to move forward with the national rollout of queso, we opted to replace chorizo on the line with queso, so chorizo is going away,” Chris Arnold, spokesman for Chipotle, told CNBC via email.
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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 19, 2017
Swiss financial regulator the Financial Market Supervisory Authority, or FINMA, has shut down the providers of a cryptocurrency known as “E-Coin,” which the regulator dubbed as “fake.” The currency was shut down as they did not have the proper bank license. FINMA told Reuters in a statement: This activity is similar to the deposit-taking business […].
Bobsguide
SEPTEMBER 19, 2017
Average car insurance premiums have gone up by 11 percent in the past year, according to recent data from the Association of British Insurers (ABI). Insurance has always been a grudge purchase, but with prices soaring, consumers are questioning the value for money they’re getting with their.
Bank Innovation
SEPTEMBER 19, 2017
EXCLUSIVE – Now that same day ACH debit payment has kicked off, National Automated Clearing House Association (NACHA), the steward of Automated Clearing House (ACH), is in the final phase to implement its same-day payment vision for ACH. That phase 3, which consists of mandatory credit availability before 5PM, is set to happen on March […].
PYMNTS
SEPTEMBER 19, 2017
Time is money in business. Waste one, you waste the other. The adage holds true in payments, especially, and manual processes are to blame. Jon Burrell, vice president of operations at international payments platform Currencycloud , takes PYMNTS through the ways firms in B2B and beyond can keep customers happy and the coffers full — even when operating across borders, and all while the clock is ticking.
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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.
Payments Source
SEPTEMBER 19, 2017
Same-day and real-time payment products are designed for basic transfers that don't meet the more complex needs of Lyft's ride-sharing service, contends Ashwin Raj, Lyft's vice president of payments.
PYMNTS
SEPTEMBER 19, 2017
While non-bank financial institutions (FIs) and FinTechs may be keeping traditional banks on their toes, banks still have the largest piece of the corporate banking pie. The latest report from Finastra , the FinTech conglomerate recently formed through the merger of Misys and D+H, and financial research firm Celent finds that banks are poised to see a 4 percent growth rate in corporate banking revenue through 2020, double the growth rate seen between 2010 and 2016.
Let's Talk Payments
SEPTEMBER 19, 2017
Customer-centricity, simplicity and scalability, cost efficiency, the absence of the need to protect existing business, and lack of regulatory burden along with legacy IT systems/branch networks – these are just.
PYMNTS
SEPTEMBER 19, 2017
Physical retail has had its share of problems recently, and consumers are finding it increasingly easy to shop digital and save themselves the trip. The resultant fall in foot traffic has pushed retail bankruptcies up 30 percent year over year, as Gymboree, RadioShack, Payless ShoeSource, Gordmans, Wet Seal, The Limited and (as of today) Toys “R” Us have all slid into bankruptcy.
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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
SEPTEMBER 19, 2017
In the post-demonetization and post-GST era, the FinTech industry has come to play an imperative role in the way people deal with their finances. Recognizing the industry’s potential growth, CNBC-TV18.
PYMNTS
SEPTEMBER 19, 2017
The retail death spiral drags on, and this week we have a new victim: Toys “R” Us. The eponymous toy store has filed for Chapter 11 bankruptcy protection as of Sept. 18 and hopes to begin a restructuring that will allow it to revamp its long-term debt. And it is a lot of debt: $5 billion at last count. The debt load came care of a 2005 $7.5 billion buyout by private equity investors KKR, Bain Capital, and Vornado Realty Trust.
Bobsguide
SEPTEMBER 19, 2017
With the activation of PSD2 regulation beginning in January 2018 for all EU countries, third parties will get access to financial data of banking customers under the condition that those customers gave their explicit consent. While this new legislation will open up the payment space for new.
PYMNTS
SEPTEMBER 19, 2017
Pasadena, California-based startup Miso Robotics is ready to introduce Flippy, the automated fast-food burger-flipper — and, according to many, the beginning of the end for burger boys and maybe even for low-skill laborers in general. Flippy is slated to roll out to 50 CaliBurger restaurants around the world over the next two years. Miso’s burger bot can flip burgers twice as fast as a human using its singular arm, and it is powered by deep machine learning — meaning it can use feedback loops to
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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 19, 2017
Seeing the successful “private label” debit programs at Target and Cumberland Farms has inspired more merchants to launch their own initiatives, writes Adam Frisch, CEO of Buy It Mobility Networks.
PYMNTS
SEPTEMBER 19, 2017
In data that will likely surprise anyone who has avidly watched retail over the last few years, the market is trending strongly toward same-day delivery. According to the “2017 Digital Commerce Benchmark Survey,” conducted by Boston Retail Partners (BRP), some 65 percent of retailers will offer same-day delivery within the next two years. As of today (Sept. 19), the numbers are fairly impressive.
Bobsguide
SEPTEMBER 19, 2017
Buying a new printer from ISIS is probably not how many people envision their stationary shopping to proceed. But it was only a month ago that the FBI announced that it had found a senior Islamic State (ISIS) official sent money to an alleged operative based in the US via a global financial network.
PYMNTS
SEPTEMBER 19, 2017
Online lender and tech startup Social Finance (SoFi) made recent news when its chief executive officer, Mike Cagney, stepped down following a lawsuit regarding claims of sexual harassment. According to a news article published by The New York Times , Tom Hutton, executive chairman of Social Finance’s board of directors, will serve as interim CEO. “The business is strong, stable and well-positioned,” Hutton said in a statement.
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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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