Chris Skinner
FEBRUARY 6, 2019
I wrote my blog about the bank branch being dead yesterday, just as a new report called for banks to stop trying to be cashless and branchless because it harms society. This is from the RSA (Royal Society for the encouragement of Arts, Manufactures and Commerce), an association founded by … The post Why banks should stop closing branches appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 6, 2019
Brex has announced that it is partnering with Mastercard to issue the World Elite Mastercard for Business, offering an enhanced rewards structure and expanded suite of travel benefits. Started in 2017 by the founders of Brazilian payments processor Pagar.me , Brex’s investors include Y Combinator Continuity, Ribbit Capital, Greenoaks, DST Global, Peter Thiel and Max Levchin.
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Chris Skinner
FEBRUARY 6, 2019
Things we’re reading today include … How much Australia’s banking and finance CEOs earn Bank royal commission insider trading claim is ‘b t’ Don’t bank on Google Bank, bank on banks becoming Google-like An Amazon Checking Account Could Displace $100 Billion In Bank Deposits (But It Won’t) UBS gets approval to … The post Things worth reading: 7th February 2019 appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 6, 2019
Jack Dorsey, billionaire tech founder and current CEO of Twitter, said he only owns bitcoin and that he supports the Lightning Network , a bitcoin network update that could make bitcoin payments speedier and less expensive, according to reports. Dorsey tweeted on Tuesday (Feb. 5): “I only have bitcoin.” Dorsey also founded payment company Square , which allows users to buy and sell bitcoin through the Cash app.
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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
FEBRUARY 6, 2019
U.S. banks accounted for 81 of the 500 most valuable and strongest bank brands around the world on Brand Finance’s Banking 500 2019 list, released this week. Led by the Industrial and Commercial Bank of China, the world’s most valuable banking brand (at $79.8 billion), Chinese banks comprised the top four banks on the consultancy’s […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
FEBRUARY 6, 2019
In 2010, when Patrick Collison founded Stripe Inc. with his younger brother John, he thought the world was headed toward ever-increasing globalization, economic stability and international commerce. Now, based on the events of the last couple years, no one holds “so Panglossian a view,” said the 30-year-old chief executive officer. “There are more headwinds to global economic […].
PYMNTS
FEBRUARY 6, 2019
American Express and Bill.com have announced a partnership to introduce an accounts payable solution to joint customers. In a press release on Tuesday (Feb. 5), the companies revealed the rollout of American Express Vendor Pay by Bill.com. The solution allows Bill.com users to pay suppliers via American Express Business or Corporate Card using virtual card technology, negating the need for companies to open a new card account.
Bank Innovation
FEBRUARY 6, 2019
For small business owners, freelancers, and gig economy workers, the minute you’re online — you’re global. Jody Perla, managing director at cross-border payments company Payoneer, told Bank Innovation this relatively new reality has led to increased customer and corporate expectations for seamless and transparent payments. “Commerce is now global by nature because of the internet […].
PYMNTS
FEBRUARY 6, 2019
In regulatory efforts tied to blockchain, the British dependency Isle of Man has debuted a hub focused on blockchain development. The advisory for the self-governing dependency has established the Blockchain Office, reported Cointelegraph , and has set up a sandbox that looks toward future regulatory frameworks. FinTech firms can join the sandbox beginning next month.
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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
FEBRUARY 6, 2019
One of the tenets of marketing and running a business is building and maintaining trust in your company. That's because if you lose the trust of customers, they are no longer your customers. One might think the current climate would induce pessimism in consumers. After all, how can one be expected to trust companies with such […].
PYMNTS
FEBRUARY 6, 2019
Mastercard has named Paul Stoddart its new president of New Payment Platforms. Stoddart, who begins his new position on March 1, will oversee the development and integration of the company’s real-time payments capabilities beyond card-based solutions, including Vocalink account-based payments, the Homesend joint venture and Mastercard Send. “Paul’s industry experience and deep immersion in the business makes him the ideal choice to drive the growth of our account-based payment activities,” Micha
Insights on Business
FEBRUARY 6, 2019
The IBM Watson Assistant team has been busy in the past year helping clients implement state-of-the-art chatbots. The financial services industry is one of the fastest adopters of this technology. As a result, at IBM Think 2019 you’ll be able to find a number of client-led sessions. IBM scores at the top in analyst ratings for chatbots. First of all, why IBM in the chatbot arena?
PYMNTS
FEBRUARY 6, 2019
From fears that automation and technology will replace the need for human accountants, what has emerged instead is an understanding that technology is forcing the accounting and corporate finance professions to adjust to a new reality: technology can handle the manual number-crunching, leaving professionals to provide more valuable, strategic advisory services to their firms.
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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
FEBRUARY 6, 2019
Cost-efficiency and an exciting roadmap - including the Corda R3 tie up - have galvanised the gpi community, a bobsguide poll conducted during a webinar this week, demonstrates. ‘A key solution to modern day payments’ was the primary priority for the webinar audience. During the.
PYMNTS
FEBRUARY 6, 2019
Bank of America announced on Wednesday (Feb. 6) the launch of Business Advantage 360, a digital dashboard aimed at helping entrepreneurs manage their business finances. In a press release , Bank of America said the new dashboard is available to business banking customers, giving them a view of their cash flow. It also offers access to real-time advice in one tool with new functionality.
Bobsguide
FEBRUARY 6, 2019
Company leverage hit a ten-year high in January, with 48% of fund managers who took part in Bank of America Merrill Lynch’s market survey believing balance sheets are overleveraged. Normally bullish wealth managers remind investors that doing nothing can often be an effective strategy. At the.
PYMNTS
FEBRUARY 6, 2019
Consumers have thousands of health and beauty brands to choose from, and that pool has only grown larger as the global economy expands. To keep up with the competition, merchants recognize the need to innovate both online and in their physical stores. What’s more, 61 percent of health and beauty merchants stated that “they would not survive” without innovation, according to the latest version of the Retail Innovation Readiness Index.
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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.
Bobsguide
FEBRUARY 6, 2019
Inadequate onboarding procedures have led to incomplete know your customer (KYC) compliance, and resulted in ongoing remediation projects to deal with the back log of accounts, according to Phil Masterson, senior vice president and managing director of SEI’s Investment Manager Services.
PYMNTS
FEBRUARY 6, 2019
In an effort to bring customers an easier and more streamlined online car buying experience, Carvana, an online-only used car dealer, has teamed up with Bank of America, according to a release from the companies. “We always want to give our customers an exceptional experience, whether they finance with Carvana or work with their own banks,” said Ernie Garcia, Carvana founder and CEO.
Insights on Business
FEBRUARY 6, 2019
Around the world, financial institutions and the regulatory bodies who govern them are awakening to the potential applications of technology in financial crime prevention. While this has long been a promise of technology providers in this area, it is now finally, coming to fruition. Join our in-depth conversation , hosted by Watson Financial Services General Manager, Alistair Rennie, as industry experts discuss: Change in regulatory perception of AI and advanced analytics.
PYMNTS
FEBRUARY 6, 2019
Fleet payments company FLEETCOR is facing criticism over fees associated with its fleet cards, according to reports in Bloomberg last week, which small businesses (SMBs) say are too high. The issue mirrors the debate over payroll card fees, and raises new concerns over fees linked to card products for businesses, including interchange fees. The publication reported late last month that FLEETCOR charges “more than a dozen fees” for professionals to use the card, including a $.10-per-
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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
FEBRUARY 6, 2019
Both banks and credit unions in fact do a lot today to better the world. Collectively, they pour billions of dollars into their communities and causes that align with their respective mission, writes Elena Pierce, COO of In/PACT.
PYMNTS
FEBRUARY 6, 2019
Brick-and-mortar retailers are reinventing their business models amid changes in consumer preferences and the emergence of the sharing economy. IKEA , which is known for selling flat-packed furniture from 276 locations in 25 countries, is experimenting with a subscription offering in Switzerland. The pilot, which is set to start “as soon as this month,” is said to encompass multiple furniture types, according to a Financial Times report.
Bobsguide
FEBRUARY 6, 2019
The Shanghai Stock Exchange’s new Technology Innovation Board is a “feeble” and “wild gamble” at creating entrepreneurial spirit, which will “crash and burn”, according to Stanley Chao, vice president of All In Consulting and author of Selling to China.
PYMNTS
FEBRUARY 6, 2019
Instacart , the delivery on demand service, is facing a class-action lawsuit over how it handles tips earned by drivers. According to a report in NBC News , last week a class-action lawsuit was filed on behalf of Sarah Lozano, a Los Angeles Instacart worker, and other Instacart shoppers, alleging that Instacart “intentionally and maliciously misappropriates gratuities in order to pay plaintiff’s wages, even though Instacart maintained that 100 percent of customer tips went directly to shop
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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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