Chris Skinner
DECEMBER 15, 2019
The UK implemented Open Banking in January 2018 and now, almost two years later, you would think it’s doing really well. This is why the momentum is building. The Open Banking Implementation Entity (OBIE) shared figures that show there are 49 million data sharing requests monthly, doubling in just seven … The post Why is Open Banking so scary?
PYMNTS
DECEMBER 15, 2019
Visa has announced in a release that cybercriminals are employing new tactics to steal credit card information from around the U.S. While most are familiar with “skimming” attacks at gas stations, where criminals install a physical piece of scanning technology on an actual fuel dispenser, the new attacks are more complicated and require more technical knowledge. .
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Chris Skinner
DECEMBER 15, 2019
Things we’re reading today include … Bank accidentally puts $37MILLION into woman’s account Meet the biggest bank you’ve never heard of Sustainable investors face squeeze as larger firms move in Goldman Sachs to stop financing new drilling for oil in the Arctic Nuns take on BlackRock over climate change UK … The post Things worth reading: 16th December 2019 appeared first on Chris Skinner's blog.
PYMNTS
DECEMBER 15, 2019
A German labor union for two Amazon logistics centers is calling for a strike ahead of Christmas demanding higher pay, Reuters reported on Sunday (Dec. 15). The labor union Verdi, in an effort to force Amazon to recognize collective bargaining agreements that apply to other retail employees, is calling on employees to demand better working conditions. .
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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
BankBazaar
DECEMBER 15, 2019
Good financial habits are easy to cultivate provided you start early. Here are some pointers that can help you reflect on your lifestyle and gauge its impact on your financial life. While there are obvious factors to determining your financial future, it’s often the subtle things that sculpt our ways with money; the things that we sometimes don’t even consider to be things.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
DECEMBER 15, 2019
French marketplace payment processor Lemon Way has raised €25 million from Toscafund Asset Management to help banks compete with the likes of Adyen, Paysafe, and Stripe in the fast-growing marketplace sector.
PYMNTS
DECEMBER 15, 2019
A hacker reportedly took tokens worth $6.7 million from the VeChain Foundation, which is the group behind the VeChain public blockchain platform construction, Yahoo Finance reported. VeChain, which was started in 2015 in Singapore, showcases a lending platform based on the blockchain that aids clients in assessing the quality of items purchased via supply chain analysis.
Payments Source
DECEMBER 15, 2019
The age of PINs and passwords are sadly not yet gone, but new devices and digital services will need more advanced authentication, says Fingerprints' Maria Philstrom.
PYMNTS
DECEMBER 15, 2019
Some disavow clutter; others enjoy simplicity. Either way, more Americans are said to be holding a quiet position against materialism. More consumers are creating their own gifts, opting for experiences, gifting and receiving used goods, asking for charitable contributions, or asking for nothing during the holiday season , The New York Times reported.
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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
Payments Source
DECEMBER 15, 2019
While the road to API connectivity has not been smooth, solid progress is being made in connecting banks to third parties, says Token's Todd Clyde.
PYMNTS
DECEMBER 15, 2019
The U.S. Department of Justice (DOJ) is looking into Google ’s online shopping conduct as part of its broader antitrust probe , Bloomberg reported Friday (Dec. 13). Richard Stables, the CEO of London-based online shopping comparison site Kelkoo Group , said he spent time with DOJ officials to talk about how Alphabet — Google’s parent company — allegedly damages his business.
American Banker
DECEMBER 15, 2019
While the banking industry has applauded regulators’ effort, community groups say the proposal needs to be reworked or it will hurt those the law was meant to help.
PYMNTS
DECEMBER 15, 2019
South Korea’s Woowa, the startup behind the Baedal Minjok app — commonly known as Baemin — was offered $4 billion by Berlin-based Delivery Hero, Bloomberg reported on Friday (Dec. 13). Before the deal is sealed it must undergo an antitrust review since Delivery Hero also owns Yogiyo, which is Baemin’s biggest rival. Delivery Hero acquired a majority stake in Yogiyo in 2014.
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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.
The Banker
DECEMBER 15, 2019
The Banker recently assembled an expert panel to give their reaction to the US Federal Reserve's latest batch of regulations, issued in late 2019. Silvia Pavoni reports.
PYMNTS
DECEMBER 15, 2019
Probes into financial institutions in the U.K. are up for the first time since 2015 due in part to an increase in both white-collar and money laundering crimes, the Financial Times reported Sunday (Dec. 15). The latest data shows regulators have ordered 51 “skilled persons’ reports” in the 2018-19 financial year, a 16 percent increase over last year.
The Financial Brand
DECEMBER 15, 2019
Here are some of the advanced features that can have a big impact on bank and credit union success, including examples of actual apps. The post 16 Must-Have Mobile Banking Features that Raise the CX Bar appeared first on The Financial Brand.
PYMNTS
DECEMBER 15, 2019
Payments company Ixaris has teamed up with travel industry company Sabre to expand into new European markets, with plans to eventually reach the Americas and Asia Pacific markets, according to a press release. Ixaris’ payments system will now be available through Sabre Virtual Payments , and it will let travelers who use the Sabre Virtual Payments offering streamline payment processes, as well as protect their own margins when paying for travel or accommodations.
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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.
The Financial Brand
DECEMBER 15, 2019
New channels and challenges are forcing bank and credit union marketing leaders to seek new talents for posts that didn't exist 5 years ago. The post Skills Financial CMOs Will Hire for in 2020 (and Beyond) appeared first on The Financial Brand.
PYMNTS
DECEMBER 15, 2019
Great Hill Partners , a growth-oriented private equity firm, has announced that it’s going to acquire VersaPay, a company that provides cloud-based invoice-to-cash solutions, according to a release from the companies. Great Hill is going to acquire “all of the issued and outstanding common shares of (VersaPay)” through a statutory plan of arrangement.
PYMNTS
DECEMBER 15, 2019
The Royal Bank of Scotland (RBS) is reimbursing 40 million pounds ($53 million) to about 730,000 customers after workers at the bank were found to be manipulating foreign money transfers to get more money for the financial institution, according to a report by The Guardian. The bank has been slowly trying to rebuild its reputation after a number of issues it has dealt with regarding customers since the financial crisis.
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