Chris Skinner
JUNE 20, 2019
Looking at the world of the future, we all wonder what will happen to work. Will we still have jobs? Will all the dumb jobs disappear so we no longer have call centres (replaced by chatbots and avatars); accountants and auditors (replaced by AI algorithms); Uber drivers and hotel check-in … The post Slave to the machine or free for a dignified life?
Payments Dive
JUNE 20, 2019
The payments industry needs to make adjustments based on the needs of their customers, whether related to age, geography or other factors.
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Chris Skinner
JUNE 20, 2019
Things we’re reading today include … Global financial bodies not fit for purpose, John McDonnell says Lost wallets more likely to be returned if they contain large sum of money, scientists find Why has Facebook coined their new cryptocurrency Libra? Mark Carney clears the path for new digital currency providers … The post Things worth reading: 21st June 2019 appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 20, 2019
Citizens Bank is generating one-third of its mortgage applications online, thanks to a suite of tools the company rolled early this year and a partnership with San Francisco-based fintech firm Blend. Citizens' suite of digital mortgage tools is part of an effort to improve user experiences for mortgage customers and grow customers relationships, according to […].
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
JUNE 20, 2019
Facebook ’s cryptocurrency initiative grabbed its share of attention this past week, of course. The business model of offering the digital wallet Calibra to back Libra, and tie it all to real assets (along with the Libra Association), shone the spotlight on crypto’s role in eCommerce. However, beyond that deluge of headlines were ripples (literally) and continued cross-border, digital payment efforts from other firms.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JUNE 20, 2019
To offer “surveillance as a service,” Amazon earned a U.S. patent for an “unmanned aerial vehicle.” It was granted on June 4 after its filing approximately four years ago on June 12, 2015, Quartz reported. An “unmanned aerial vehicle” is drone’s technical terminology, according to the report. It “may perform a surveillance action at a property of an authorized party” as well as “image the property to generate surveillance images.
Accenture
JUNE 20, 2019
I am pleased to once again have managing director Tim O’Donnell’s unique perspective and experience for this blog series. The squeeze on revenue to the consumerization of corporate services are rewriting the playbook for competitiveness in commercial payments. Payments executives surveyed in our 2019 Global Payments Survey cite customer experience as a top driver of customer disintermediation. ¹ Competitiveness in corporate payments is now about moments of truth that make the bank a customer’s b
PYMNTS
JUNE 20, 2019
Apple has expanded the test phase of its credit card with Goldman Sachs to its retail employees, according to a report by Bloomberg. The company, which has tens of thousands of retail workers, launched an internal beta program for the Apple Card, and it is the first major trial for the upcoming product, set to launch publicly in the summer. The group using the card, despite the size of the workforce, will be a controlled one, and the workers were asked to not talk about the card, even though the
Payments Source
JUNE 20, 2019
Facebook’s Libra shows technology companies are a far greater threat to a bank than other banks, argues Token.io’s Marten Nelson.
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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
JUNE 20, 2019
Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. Between data breaches exposing customer details and card information and the rise of card-not-present fraud as operations move online, digital businesses are challenged to stay abreast of payment security trends — and fraud is a massive issue for firms large and small.
Payments Source
JUNE 20, 2019
Large U.S. banks and merchants are finally working together to support contactless payments. But two of retail's biggest chains, Walmart and Kroger, aren't on board, and for good reason.
PYMNTS
JUNE 20, 2019
News of the launch of Facebook cryptocurrency Libra has highlighted how the U.S. government will respond to the introduction of new digital currencies. The Wall Street Journal is reporting that the Federal Reserve and the Senate Banking Committee will both closely scrutinize the implementation of Libra. On Wednesday (June 20), Fed chairman Jerome Powell said that the country’s central bank has “significant input into the payments system,” which is the eCommerce system that Libra will affect.
Payments Source
JUNE 20, 2019
Hackers are flocking to loyalty and rewards programs, pushing marketers to embed extra fraud technology to stem financial losses.
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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
JUNE 20, 2019
The last thing that anyone wants to hear in almost any financial organization is that the people tasked with risk management is feeling less than fully confident about their ability to actually do that job — because they aren’t sure if their data is good. If the risk experts aren’t feeling confident — it is hard to know how anyone else in an organization is going to.
Payments Source
JUNE 20, 2019
Bill Ready, the former CEO of Braintree who helped PayPal build its digital strategy over the past six years, announced plans to leave the company.
PYMNTS
JUNE 20, 2019
The U.S. Faster Payments Council ( FPC ) has chosen industry expert Kimberly Ford as the organization’s first executive director. Ford, who used to work with the First Data Corporation, will start on June 24 (Monday), the company said in a release. “Having the right person at the helm of the FPC is critical to the organization’s success. The search committee reviewed more than 400 applicants, conducted numerous phone screenings and in-person interviews, and collectively chose Kim for the positio
Payments Source
JUNE 20, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Microsoft joins Hyperledger; A global summit for crypto rules; Fintechs build new mPOS in Europe; Paytm rebrands its gaming unit.
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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
JUNE 20, 2019
By 2023, 73 percent of all offices across the U.S. will have remote workers that eschew the traditional commute to an office setting. Though they may work as far as the other side of the world, remote workers still expect the same level of security, trust and speed in payments. Employers are, therefore, more heavily reliant on digital tools and technologies to accommodate this new online workforce.
SWBC's LenderHub
JUNE 20, 2019
There’s no shortage of scams affecting consumers and financial institutions alike when it comes to credit card fraud. According to the Federal Trade Commission , scammers ripped off Americans to the tune of $423 million last year through wire transfer fraud. Surprisingly, younger people, ages 20-29, reported losing money to fraud at an alarmingly higher rate than their 70-80+ counterparts—43% compared to 15%, respectively.
PYMNTS
JUNE 20, 2019
Complaints about healthcare will never cease. After all, the industry is one where illness combines with significant bills and payments, two things that are pretty much a negative for everyone who needs medicine or medical care. However, one must admit that the delivery of healthcare is becoming more convenient — thanks to online and mobile technology services, and the disruption and innovation of multiple players within that industry.
Payments Source
JUNE 20, 2019
Amazon’s move pressures other merchants to add speed to e-commerce delivery while adding a few more steps to vet payments, writes Monica Eaton-Cardone, COO of Chargebacks911 and CIO of its parent company Global Risk Technologies.
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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
JUNE 20, 2019
Mexican antitrust regulators blocked Walmart’s plans to buy delivery app Cornershop, according to a report by Reuters. Cornershop Co-Founder Oskar Hjertonsson said on Twitter that the officials stopped the deal earlier this month. Walmart planned to buy the app for $225 million, to try and give its eCommerce operations in Mexico a shot in the arm. It also wanted to position itself to compete with Amazon.com.
Breaking Banks
JUNE 20, 2019
Brett King and Chloé James host an all star cast on to the show to discuss the launch of Facebook’s new crypto Libra, a financial inclusion app and blockchain (sort of) with Brian Roemmele , early Bitcoin and VoiceFirst evangelist, returns along with Brian Solis (bestselling author of LifeScale ), Sankar Krishnan ( Capgemini ’s EVP for Banking and Capital Markets), regular contributor John Best ( Best Innovation Group ), author of Breaking Digital Gridlock , and Anna Irrera (Fintech Corresponden
PYMNTS
JUNE 20, 2019
Commercial cards account for only a portion of corporates’ overall spend, as checks stick around and ACH gains ground. However, their market share is on the rise as card issuers develop more robust rewards programs, and the ability to integrate card spend into back-office spend management and analytics platforms. Yet, the issue of vendor card acceptance remains the often-cited hurdle hampering the commercial card from gaining deeper traction.
Payments Source
JUNE 20, 2019
Community bank executives, payments officials and others said Libra faces an uphill battle amid heavy competition and regulatory scrutiny.
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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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