Chris Skinner
SEPTEMBER 22, 2019
Building on my recent updates on sustainable finance and such like, it is interesting the word purpose consistently appears throughout the sub-text. Banks need a sense of purpose to attract talent; banks need to shift from shareholder focus to purpose focus; banks must no longer be socially useless but socially useful, … The post The Purpose-Driven Bank appeared first on Chris Skinner's blog.
PYMNTS
SEPTEMBER 22, 2019
Ecuador ’s government has rushed a draft privacy law to Congress after the nation was hit with a massive data breach impacting more than 20 million people. The breach, according to the Financial Times , was discovered by researchers at VPNMentor , who reported that the data was found on an unsecured server owned by Novaestrat, a data analytics company in Ecuador.
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Chris Skinner
SEPTEMBER 22, 2019
The main blog headlines are … The two big issues bank CEOs have with FinTech For all the talk about how well FinTech start-ups are doing, I hear two regular laments from bank CEOs. First, why aren’t we valued like FinTechs? and second, why aren’t FinTechs regulated like us. On … The post The Finanser’s Week: 16th September – 22nd September 2019 appeared first on Chris Skinner's blog.
PYMNTS
SEPTEMBER 22, 2019
Data from the Pew Research Center shows that 52 percent of American adults live in “ middle class ” households, with the median income at $78,442 in 2016. According to Pew, the middle class is defined as adults whose annual household income is two-thirds to double the national median, after being adjusted for household size. The data found that about one-fifth of American households are considered upper class, while 29 percent are lower class.
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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
Chris Skinner
SEPTEMBER 22, 2019
Things we’re reading today include … Lloyds Bank’s fraud detection system ‘the Rat’ sniffs out scammers A bank you might like: apps’ unlikely pitch out to disrupt Australian habits Helena Morrissey tipped to succeed Carney at Bank of England A watershed moment for women as Alison Rose takes charge at … The post Things worth reading: 23rd September 2019 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
SEPTEMBER 22, 2019
In my frequent conversations with clients across the UK and Irish banking industry, one of today’s hottest topics is the rise of the challenger banks such as CYBG, Metro and AIB UK, and particularly the neo-challenger banks providing digital-only services, like Monzo, Atom and Starling. Why the intense interest in the neo-challengers? An obvious reason is the inroads they’re making into the market, both domestically and globally: recent Accenture research finds that digital-only banks operating
PYMNTS
SEPTEMBER 22, 2019
Amazon has expanded its two-hour delivery service for Whole Foods customers to almost 30 cities in an attempt to take on Walmart. The eCommerce giant launched a pilot program in August, using the purchase histories of Whole Foods shoppers who use their Prime memberships to suggest the same products on its main website with the bonus of free two-hour delivery.
Payments Source
SEPTEMBER 22, 2019
Unlike using cash in the analog world, on the Internet everybody--including hackers--leaves digital traces, says Bird & Bird's Martin von Haller Grønbæk.
PYMNTS
SEPTEMBER 22, 2019
California Gov. Gavin Newsom signed into law a controversial bill that could reclassify ridesharing and other gig economy workers as employees instead of independent contractors, The Wall Street Journal reported on Saturday (Sept. 21). Although the new law is intended to raise wages and add benefits like unemployment insurance, drivers of rideshare and food delivery companies aren’t so sure they will benefit.
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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
Matt Wilcox Pro
SEPTEMBER 22, 2019
The cashierless checkout isn’t exactly new. By contrast, the cashierless, cardless, cashless variety of checkout is relatively new. And it may already be be an endangered species. For an early example of cashierless checkout, look no further than the noble hot coffee vending machine that once graced every cafeteria. You’d drop a nickel in the coin slot [.
PYMNTS
SEPTEMBER 22, 2019
SoftBank Group is considering a gamble on Brazil and might advise high-growth firms to invest in the country, Reuters reported on Friday (Sept. 21). “We have around 40 companies that fit in Brazil,” the group’s head in Brazil, André Maciel, told the news outlet during an event at Cubo, a technological hub funded by Itaú Unibanco, the largest private bank in Latin America. .
Banking Exchange
SEPTEMBER 22, 2019
“The intent with IIN was always to develop a meaningful ecosystem of bank users" Technology Payments Financial Trends Retail Banking Tech Management Mobile Online Cards Security Feature Feature3 Blockchain.
PYMNTS
SEPTEMBER 22, 2019
The Bank for International Settlements said the world’s biggest banks are actually more resilient and pose less of a risk to the economy than before the financial crisis. According to its latest quarterly review , BIS said regulatory reforms introduced in 2011 helped make large financial institutions less of a threat to the economy by subjecting them to tougher rules and requiring higher capital cushions.
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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.
Banking Exchange
SEPTEMBER 22, 2019
".thanks to a build-up in capital buffers and a shift to more stable sources of funding." Retail Banking Lines of Business Financial Trends The Economy Deposit Trends Financial Research Feature Feature3.
PYMNTS
SEPTEMBER 22, 2019
Investors and board members are growing weary of the behavior by WeWork ’s CEO and co-founder Adam Neumann , and they are looking to force him out as the company moves toward an initial public offering (IPO), The Wall Street Journal reported Sunday (Sept. 22). SoftBank Group — WeWork’s biggest investor — is planning to meet with other stakeholders who are looking to oust Neumann as he continues to delay the company’s public offering, a source told the WSJ.
Banking Exchange
SEPTEMBER 22, 2019
Banks can provide sound advice right now that will help customers heading into 2020 Retail Banking Customers Branch Technology/ATMs Community Banking Feature3 Feature.
PYMNTS
SEPTEMBER 22, 2019
Two firms are teaming up to create a blockchain solution for the European shipping market. VAKT , a specialist in commodity post-trade processing via blockchain, revealed that it has signed a memorandum of understanding with essDOCS , a provider of paperless trade solutions, according to Coin Telegraph. The blockchain solution will initially focus on tanker barge markets in northwestern Europe, but the partners also are exploring global options.
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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.
Banking Exchange
SEPTEMBER 22, 2019
The move toward beta returns, the increasing difficulty of generating alpha Management Feature Feature3 Financial Research Financial Trends.
PYMNTS
SEPTEMBER 22, 2019
To criticize the business practices of Amazon approximately 18 months ago, a nonprofit dubbed the Free and Fair Markets Initiative (FFMI) rolled out a national campaign. While the group claimed to have grassroots support, it did not admit it has the backing of some of the main corporate competitors of the eCommerce retailer, The Wall Street Journal noted in a report.
The Paypers
SEPTEMBER 22, 2019
(The Paypers) Adam Vissing , VP Sales & Business Development at IXOPAY , elaborates on the opportunities of transaction routing as well as pitfalls during implementation
PYMNTS
SEPTEMBER 22, 2019
The Boston Federal Reserve president think that co-working spaces could ultimately hurt the economy, and even worsen the next U.S. recession. “I am concerned that commercial real estate losses will be larger in the next downturn because of this growing feature of the real estate market, which could ultimately make runs and vacancies more likely due to this new leasing model,” Eric Rosengren said in a speech at a credit markets conference at New York University’s Stern School of Business, accordi
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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 Paypers
SEPTEMBER 22, 2019
(The Paypers) A Forrester and Experian study has revealed there is a ‘confidence gap’ between how well businesses believe their fraud prevention performance is optimised and the reality.
PYMNTS
SEPTEMBER 22, 2019
Minneapolis-St. Paul-based Matchstick Ventures raised $30 million in a second seed funding round led by Foundry Group, reports said on Friday (Sept. 20). Matchstick Ventures said it will use the money to fund startups in the Rockies as well as in the northern U.S. that include, “rapidly growing, yet underserved startup ecosystems,” the company said. .
The Paypers
SEPTEMBER 22, 2019
(The Paypers) Finastra has announced its partnership with Swiss fintech, NetGuardians , which sees the two companies launching an AI-powered fraud detection solution for financial messaging.
The Financial Brand
SEPTEMBER 22, 2019
Reluctance to embrace 'open' trend hinders banks and credit unions and encourages further Big Tech inroads. Fintech partnerships would help. The post Open Banking Is Key to Relevance in Payments for Traditional Institutions appeared first on The Financial Brand.
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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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