Fri.Oct 19, 2018

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Keeping it personal in a digital banking world

Payments Dive

Digital channels are being widely accepted by today's consumers, but with this adoption comes the increase in impersonal transactions through online and mobile banking, drastically impacting the traditional model of building relationships

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Customer intelligent marketing is not a scary thing

Chris Skinner

I grew up as a marketing guy. My first career roles were in marketing. I was trained by Kotler and Drucker, and still hold true to first principles of marketing: the 4 P’s or, if you’re not a marketing person, product, price, place and promotion. This is the original marketing … The post Customer intelligent marketing is not a scary thing appeared first on Chris Skinner's blog.

Marketing 283
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Podcast Episode 13: The Power of Loyalty Programs & Mobile Payments

Payments Dive

Host Will Hernandez, discusses the power of loyalty programs and how they relate to mobile payments, with Zachary Goldstein, CEO of Thanx. He also discusses restaurants in the mobile space, with Shelly Whitehead, from Pizza Marketplace and QSRweb.

Mobile 277
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North Korean Hacking Group Lazarus Takes In $571M

PYMNTS

Internet hackers have pilfered $882 million of digital currency from crypto exchanges since last year, but one group in particular has netted roughly half that amount: Group-IB noted in a report that a North Korean hacking group, Lazarus, has taken $571 million through an analysis of 14 different attacks, The Next Web reported. In general, hackers turn to methods such as social engineering, malware and spear phishing to target digital currency exchanges.

Groups 198
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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PayPal Active Acounts Could Further Soar With Walmart Partnership

Bank Innovation

PayPal has added 9.1 million new active accounts surpassing 254 million net active users in 3Q18. And that number will likely grow significantly thanks to its Walmart partnership, through which PayPal will target a large portion of the underbanked audience. In the earnings call yesterday for the third quarter ended in September 30, PayPal CEO […].

More Trending

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Fed Study: Noncash Payments Fraud Outpacing Growth Overall

Bank Innovation

Noncash payments fraud in the U.S. outpaced growth in noncash payments overall between 2012 and 2015, according to a Federal Reserve Payments Study released this week. The study’s survey of depository institutions found noncash payments fraud increased 37%, from $6.1 billion in 2012 to $8.3 billion, in 2015. Meanwhile, over the same period, total noncash payments […].

Study 150
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Citi, HSBC Join Bank Group In Global Trade Finance Effort

PYMNTS

Citi , HSBC and Banco Santander are among seven major global banks that are banding together to form a cross-border trade finance network, Reuters reported Thursday (Oct. 17). Along with ANZ , BNP Paribas , Standard Chartered and Deutsche Bank , the financial institutions (FIs) have signed a Memorandum of Understanding (MOU) to make trade finance more affordable and efficient for trading companies.

Groups 191
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FSS Payment Gateway Emerges on Top at Great Indian Sale

Payments Dive

FSS Payment Gateway processed an approximate 14.7M transactions this festive season.

Payments 186
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To Fight Fake IDs And Online Fraud, Know Thy Enemy Better

PYMNTS

To really beat someone, or something, one must respect and understand that person or organization, even if they dislike or loathe them. That’s ancient wisdom — “know thy enemy” — that not only applies to martial situations, but to the biggest challenges in life. OK, enough of the generalities. Payment and commerce fraudsters are becoming terrifyingly sophisticated.

Fraud 189
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The State of Automation in Financial Services 2024 Report

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

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The buy versus build conundrum in data management

Bobsguide

It is becoming increasingly common for businesses to move away from in-house development and look to third-party vendors to provide data management solutions. The main reasons for this are economics and more predictable ROI, time-to-market and avoiding the risks that come with in-house development.

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EMVCo Releases EMV Secure Remote Commerce Specifications Draft

PYMNTS

To open its EMV® Secure Remote Commerce (SRC) specification for public comment for a 45-day period, secure payments enabler EMVCo has issued a draft version of the specification called version 0.9. The organization wants to allow merchants, payment networks and card issuers, among other payment industry participants, to contribute to version 1.0, which will be released next year, the company said in an announcement.

Security 176
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7 ways VR and augmented reality transform payments

Payments Source

As VR and AR mature, new possibilities open up for customer interaction in a virtual space.

Payments 144
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India’s RBI Wants Its Governor To Lead Payments Regulator

PYMNTS

Following the proposal of a payments regulator to be established independent of the Reserve Bank of India (RBI), the central bank has put forward a public objection. The regulator would have a chairperson chosen with input from the RBI, but the central bank objects to having the regulator outside of its control and not led by its governor, Reuters reported.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Amex deepens ties with PayPal, Amazon to get more tech-savvy shoppers

Payments Source

American Express turned its loss of its Costco card business in 2016 into a pivot to a more technology-heavy strategy, a plan that is paying off with major deals with large partners and solid earnings.

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Want To Win With Payment Terminals? Get Intimate.

PYMNTS

In a sense, the ongoing battle for point-of-sale supremacy involves intimacy. Yes, intimacy. Maybe a diner prefers to have the waiter bring the payment terminal to the table instead of disappearing with the credit card and all of its sensitive data — still common in the United States, though the famous European habit of settling the bill at the table is making inroads here at restaurants and even some upscale bars.

Payments 158
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Incumbent FIs attempt to create agile operations

Bobsguide

Many large, global financial services institutions are facing mounting pressure from new, tech-first competitors. The continued rise of fintech, the emergence of Open Banking and a desire by regulators to promote a more competitive financial services market have all led to real change in the banking.

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NEW REPORT: ChowNow CEO On Securing Order-Ahead

PYMNTS

Quick-service restaurants (QSRs) are working to draw in more mobile consumers and bring in the larger ticket orders common among mobile order-ahead purchases. Achieving this means taking a proactive approach to drawing customers to the apps — then keeping them loyal. Chipotle , for one, has launched its long-awaited rewards program, which dishes out greater rewards for app purchases than for in-store.

Security 158
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Event ATMs can address one of cash’s final bastions

Payments Source

Cash is king when it comes to community events, and event organizers know this; which is why they hire qualified, professional mobile ATM companies to manage the ATMs they have on site, writes Yonas Marcos, president and CEO of Star Financial Services.

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TRENDING: The Redbox-Inspired Approach To Keeping Cashierless Shopping Juiced

PYMNTS

The self-service market is projected to be worth $13 billion by 2023, and food merchants are angling to secure a bigger foothold in the space. Realizing that it’s not just what they sell, but also when and how they sell it, farmers and butchers are turning to vending machines to avoid the costs of selling in supermarkets, and to even capture sales after store-closing time.

Trends 156
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10.19.18 Your morning briefing

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: Pakistan reaches out to fintechs to help with payment project; Wearable tech gets more flexible; Digital pay becomes a major market; Bill and Melinda Gates invest in blockchain as a financial inclusion tool.

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Mastercard’s Lifestyle Manager Aims To Build More Effortless Consumer Journeys

PYMNTS

There are few disappointments in life quite as indelible as a long-anticipated vacation that crashes and burns because of a bad experience at a hotel. Most consumers have at least one horror story about a long-anticipated trip derailed by the sound of jackhammers all day because of a hotel renovation, or a room that smelled of mildew and cigarette smoke, or being in a hotel that also happened to be hosting an annual conference for amateur heavy metal enthusiasts who like to practice in their hot

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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Scotiabank digital transformation emphasizes 'one-bank' customer experience

ATM Marketplace

In transforming its physical network with an emphasis on a "one-bank" digital experience, Scotiabank aimed to achieve a more flexible market presence, improve customer service and eliminate some overhead costs — all while maintaining the branch as the "front man and personality" of the institution.

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eBay, Amazon And eTail’s Royal Rumble

PYMNTS

To steal a phrase from the movie Network, eBay is mad as hell, and is not going to take it anymore. The target of eBay’s ire is Amazon, against whom it filed a lawsuit in Santa Clara County, California earlier this week, alleging that Amazon has engaged in and orchestrated a long-term scheme to steal its biggest sellers. And “scheme” is not a rhetorical flourish on PYMNTS part: The word literally appears in the 18-page court filing 23 times. eBay’s essential allegation is that after being tippe

Mobile 155
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How Goldman Uses M&A to Bring in Talent for Marcus

CB Insights

Goldman Sachs introduced Marcus — its digital consumer bank — in October 2016. While Marcus is being developed in-house, Goldman has been active in M&A deals to strengthen its consumer bank. Goldman Sachs Strategy Teardown. Download the PDF to explore Goldman’s investment and M&A history, patents, forward-looking moves, and more.

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Today In Data: Finding And Minding The Digital Gaps

PYMNTS

The world is changing – in some ways highly reported, in others less so. Millennials are credited as the digital generation, leaving their parents and grandparents behind, even though a majority of consumers over the age of 60 are banking online and regularly interacting with chatbots. Up-and-coming Generation Z grew up in the information age, but a large number are nonetheless financially illiterate.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.