Chris Skinner
OCTOBER 24, 2018
I enjoyed chairing a half day stream at #Money2020 in Las Vegas focused upon breaking news and views. It actually turned out to be more around how banks are partnering with start-ups, with several sessions discussing how the partnership started and how it worked. The first session had Amazon discussing … The post #Money2020 USA: reaching FinTech 3.0 appeared first on Chris Skinner's blog.
Bank Innovation
OCTOBER 24, 2018
LAS VEGAS - The CEOs of Prosper Marketplace, Lending Club, and Social Finance Inc. all spoke to a common theme – preparing for the coming storm and choosing loans for quality, not quantity. JPMorgan Chase has predicted a 60% chance of recession by 2020, and it’s not clear how traumatic an event it will be […].
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PYMNTS
OCTOBER 24, 2018
In the blockchain space, the announcements come fast and furious. The movement to bring all sorts of data and processes to the decentralized ledger model and to blockchain platforms is an inexorable one. At the same time that press releases seem to accrue on a daily basis, earnings calls offer a bit of a progress report, where company management gives investors, analysts and observers of various industries a bit of insight into how certain initiatives are faring – and how they are contributing t
Bank Innovation
OCTOBER 24, 2018
If there’s one area that fintech companies are giving banks tough competition in the U.S. market, it’s the lending space. With easy application processes, quick decisioning and seamless movement of funds between lender and borrower, alternative lenders are becoming the go-to options for many consumers accounting for 32% of total loan originations last year.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
PYMNTS
OCTOBER 24, 2018
In many parts of the world, cash is no longer the king of currency. Fewer consumers use physical currency when making purchases, and are instead turning to more modern, digital methods of payment, particularly when making purchases online with debit cards. These cards are especially growing in popularity in Australia, Europe, the Middle East, Latin America and New Zealand, where online shopping online is quickly catching up.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 24, 2018
Rules of thumb are useful — until they aren’t. When it comes to deploying corporate resources in the battle against online fraud and account takeovers (ATOs), all too often, guiding principles fail to spot what’s really happening to a business in real time. To that end, Sift Science said Tuesday (Oct. 23) it had debuted Sift Insights, billed as a reporting suite that offers a view of how fraud hits corporate top and operating lines, and impacts customer experience.
Bobsguide
OCTOBER 24, 2018
Chris Larson, executive chairman and co-founder of Ripple, said mistakes have been made in the ways in which regulators have dealt with cryptocurrencies. “Washington is in a learning phase,” he told an audience at Money20/20. “I have to say there was a debacle with the industry.
PYMNTS
OCTOBER 24, 2018
Enterprise digitization is beginning to see a troubling trend. While executives may understand the importance of key technologies like data analytics, artificial intelligence (AI) and machine learning (ML) to improve their processes, they don’t always turn that understanding into actionable adoption of those tools. Goldman Sachs recently attributed this trend to organizations that struggle when confronting the realities of digitization: costs, failure to convince upper management of the ne
Payments Source
OCTOBER 24, 2018
The hacks keep coming — most recently to Facebook and the federal government’s health insurance sites — and consumer trust in online security systems disintegrates along with them, according to a number of recent surveys.
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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
PYMNTS
OCTOBER 24, 2018
U.K. alternative financial service (FinServ) players promising a small business (SMB) banking revolution — and a challenge to the status quo established by high-street banks — may have spoken too soon. The U.K. market has seen a surge in challenger banks and FinTech firms vowing to give small businesses a better experience, as frustration and dissatisfaction with large traditional financial institutions (FIs) loom.
Payments Source
OCTOBER 24, 2018
For hackers, ATMs serve as “welcome mats” for company networks where much customer information is stored, writes Eric Crabtree, vice president and global head of financial services for Unisys.
PYMNTS
OCTOBER 24, 2018
A saying ascribed to Woody Allen goes a bit like this: 80 percent of success is just showing up. Not in this case, it seems. News comes this week via CNN that in Belgium, a group of robbers — make that would-be robbers — were arrested after being asked by the store’s owner to come back later. CNN, reporting on findings of its affiliate RTL, said that as many as six armed individuals had come to rob an e-cigarette store on Saturday.
Bobsguide
OCTOBER 24, 2018
Since 2007, Broadridge has announced the acquisition of 29 companies, three of which have been in 2018. At Sibos 2018 in Sydney, the company announced another newly acquired solution, a next generation, SaaS global asset servicing tool. The new solution looks to leverage cloud.
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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
PYMNTS
OCTOBER 24, 2018
Commercial payments company WEX is looking to expand its offering by acquiring one of its partners, Noventis. A press release this week said WEX will acquire the company, which already uses WEX to provide virtual cards that can enable payment on the Noventis electronic payments network. In its announcement, WEX said the takeover — agreed upon for an undisclosed sum — will enable it to enhance its offering to financial institutions (FIs), accounts payable (AP) software providers and billing aggr
Payments Source
OCTOBER 24, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon Go picks a spot in Wesfield Place; HTC reveals its blockchain phone; IBM sets up open banking service; Citi invests in Ondot.
PYMNTS
OCTOBER 24, 2018
Call it the existential crisis of digital identity (ID) verification. It’s the trade-off between financial institutions (FIs) easing the consumer’s journey across banking and transactions done online, and the need to prevent fraud during new customer onboarding. To that end, Socure and Alloy said last week that they have partnered to offer financial firms a joint solution that focuses on risk scoring.
Bobsguide
OCTOBER 24, 2018
The credit crisis that tore apart the banking sector has had a lasting impact on the way the industry works with third parties, particularly within the payments space. That’s according to Jeff Parker, managing director for APAC, WorldFirst, the international payments provider. “2007.
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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.
PYMNTS
OCTOBER 24, 2018
With fears mounting over supply chain and financial disruptions as a result of Brexit, the Royal Bank of Scotland (RBS) has reportedly set aside a fund worth $2.6 billion to help small- and medium-sized businesses (SMBs) manage and mitigate the uncertainty. Reports in the Financial Times said on Tuesday (Oct. 23) that RBS will use the funds for trade finance, term finance and liquidity financing for SMBs that conduct trade with the European Union (EU) or have significant exposure to foreign exch
CFPB Monitor
OCTOBER 24, 2018
The CFPB has issued a “ Complaint snapshot: 50 state report ” that provides overall complaint data on a state-by-state basis. The report includes the District of Columbia. Last October, the CFPB issued a 50-state snapshot that was limited to student debt. In its blog post about the report, the Bureau highlights that since January 2015: The Bureau has received more complaints from consumers in California than any other state, with Florida, Texas, New York, and Georgia taking the next four spots.
PYMNTS
OCTOBER 24, 2018
Three people have been remanded in India over an alleged plot to blackmail the founder of Paytm for $2.7 million. According to Reuters on Monday (Oct. 22), Paytm’s spokeswoman, “Sonia Dhawan, her husband Rupak Jain and another Paytm employee, Devendra Kumar, were arrested on Monday following a complaint on behalf of Vijay Shekhar Sharma, the founder of Paytm’s parent [company], One97 Communications.” The three allegedly threatened to leak stolen personal data if Sharma did not pay t
Payments Source
OCTOBER 24, 2018
Grab and Mastercard have formed a partnership extending the reach of the ride-hailing app by making a prepaid card available to Grab’s 110 million users across Southeast Asia.
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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.
PYMNTS
OCTOBER 24, 2018
Amazon Go ’s New York City location will be inside Brookfield Place, formerly known as the World Financial Center, in Manhattan’s Battery Park City neighborhood. According to Recode , the Amazon Go store will be located adjacent to Brookfield Place’s Winter Garden atrium, near the security desk in front of American Express ’ office tower and an Oliver Peoples eyewear store.
Jack Henry
OCTOBER 24, 2018
Cards Come First as Payment-Of-Choice. When is the last time you used your credit card? Most likely, you used it within the last few hours – or at the very least, within the past couple of days. Consumers worldwide are depending upon and using card payments at increasingly higher rates. What’s the reason for the hike in card usage? Cards are convenient.
PYMNTS
OCTOBER 24, 2018
Grab, the ride-hailing company out of Southeast Asia, and Mastercard, the payment company, announced on Wednesday (Oct. 24) a partnership to issue prepaid cards tailored to the Southeast Asian market. In a press release, the companies said that the Southeast Asian region, which is home to more than 640 million people, has stayed largely cash-based. To overcome that, Grab, along with Mastercard, will issue virtual and physical prepaid cards directly from the Grab app.
Payments Source
OCTOBER 24, 2018
Chinese tourists visiting the U.S. and Canada will be able to use Alipay at HMSHost-operated restaurants in most major airports.
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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.
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