Payments Dive
NOVEMBER 9, 2018
A session at the recent Money20/20 conference in Las Vegas attempted to clarify the roles that technology companies are playing in financial services and how traditional financial institutions are working with them.
PYMNTS
NOVEMBER 9, 2018
B2B cryptocurrency payments company BitPay announced this week that Rolf Haag is joining the company to lead its business solutions unit. In a press release , BitPay said Haag will spearhead the company’s B2B and mass payments operations. He comes to BitPay after working for both Western Union as its former director of global mass payments, and PayPal as its former head of mass payment global disbursements.
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Bank Innovation
NOVEMBER 9, 2018
Bank-backed payment service Zelle crossed $32 billion in transactions in the last quarter, almost twice that of Venmo, but the P2P provider is not as omnipresent among banks as one would expect it to be. “P2P payments are significantly up this quarter, like 250% up,” Robb Gaynor, general manager of digital banking for Malauzai, a […].
PYMNTS
NOVEMBER 9, 2018
Overstock may be best known as an eCommerce business, but these days its CEO and Founder Patrick Byrne is much more interested in talking about the power of cryptocurrency and blockchain, and how it will be the real future of both the firm and the economy in general. Suffice to say, Byrne remains one of blockchain’s bigger boosters. But things in the eCommerce business also showed signs of strength.
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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
NOVEMBER 9, 2018
PrecisionLender was a fintech before fintechs were cool. Co-founder and CEO Carl Ryden told Bank Innovation his applied banking insights company is no disruptor, but, rather, an enabler of banks. He said PrecisionLender found its opportunity in the white space between departments at banks involved in the process of pricing commercial loans and making deals, […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 9, 2018
Bank-backed payment service Zelle crossed $32 billion in transactions in the last quarter, almost twice that of Venmo, but the P2P provider is not as omnipresent among banks as one would expect it to be. “P2P payments are significantly up this quarter, like 250% up,” Robb Gaynor, general manager of digital banking for Malauzai, a […].
PYMNTS
NOVEMBER 9, 2018
With a new commerce deal for the soccer world, Ant Financial’s Alipay has partnered with Europe’s UEFA to bring its platform to events sanctioned by the organization’s men’s national team. Terms of the arrangement, which is said to have a duration of eight years, were not made public, CNBC reported. “I think the future of football as future in principle is in digitalization, and we are in Europe quite far behind concerning that, so we got a proper partner for that, and I
Bank Innovation
NOVEMBER 9, 2018
PrecisionLender was a fintech before fintechs were cool. Co-founder and CEO Carl Ryden told Bank Innovation his applied banking insights company is no disruptor, but, rather, an enabler of banks. He said PrecisionLender found its opportunity in the white space between departments at banks involved in the process of pricing commercial loans and making deals, […].
PYMNTS
NOVEMBER 9, 2018
While living paycheck to paycheck is often associated with low-salary or part-time workers, the data tells a different story. As it turns out, the white-knuckled wait for payday is something that affects consumers up and down the economic ladder, something a glance at the PYMNTS Financial Invisibles Report quickly confirms. There’s a fairly large swath of college-educated consumers earning an excess of $60,000 a year who reported that they frequently fall behind on bills, and regularly use plac
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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
Bobsguide
NOVEMBER 9, 2018
Many industries have begun experimenting with blockchain—independent of Bitcoin. In fact, the World Intellectual Property Organization handed out 406 blockchain patents in the last year alone. And while the fate of cryptocurrency is uncertain, the tech underlying it seems to have some.
PYMNTS
NOVEMBER 9, 2018
It’s not your father’s customer loyalty anymore. The ascent of eCommerce and the digital tools that support it have made it easier — in both theory and practice — for retailers to not only see how consumers browse and what they buy (to analyze the entire path to purchase), but to get to know them in the same ways as those old-time general store operators who served small towns.
Payments Source
NOVEMBER 9, 2018
American Express' progress with local officials in China regarding card payments provides a potential early advantage against rivals like Mastercard and Visa. But building a market in China has never been easy for a global card brand.
PYMNTS
NOVEMBER 9, 2018
Silver Miller — America’s leading cryptocurrency investor law firm — announced it has filed lawsuits against AT&T and T-Mobile on behalf of crypto asset holders who were allegedly victims of “SIM swapping.” The suit alleges that by leaving holes in their security protocols, and failing to train and monitor employees adequately, the phone providers assisted criminals in remotely taking over smartphone SIM cards, allowing them to access financial records and account informa
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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.
Payments Source
NOVEMBER 9, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: New ATM attacks from North Korea; Cryptocurrency emerges for financial inclusion; Hong Kong upgrades federated ID; U.K. fintech expands donation technology.
PYMNTS
NOVEMBER 9, 2018
Bottomline Technologies posted fiscal first quarter results that showed subscription and transaction revenue growth of double digits as management pointed to opportunities and gains in the B2B payments space. The company said in earnings details reported Thursday that it saw growth of 20 percent in its established products segment, where transaction and subscription revenues were $54.1 million.
CFPB Monitor
NOVEMBER 9, 2018
With the August 19, 2019 compliance date for the CFPB’s small dollar lending rule drawing nearer, industry anxiety is growing as to the CFPB’s plans for delaying the compliance date and what changes will be proposed. In this episode, we review what the rule’s ability to pay and repayment provisions would require and why those provisions are problematic.
PYMNTS
NOVEMBER 9, 2018
Barclays is rolling out an electronic invoicing solution for its U.K. small business customers. Reports in Verdict on Thursday (Nov. 8) said Barclays now allows small and medium-sized businesses to access a mobile eInvoicing tool, including invoice generation and submission. The solution is available within the Barclays mobile business banking app for both Android and iOS devices.
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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.
Payments Source
NOVEMBER 9, 2018
To make commercial cards more viable, stakeholders in the B2B payments ecosystem need to break down traditional constructs and dynamically price card transactions so that they complement the commercial relationship between buyers and supplier, according to Dean Leavitt, CEO of Boost Payment Systems.
PYMNTS
NOVEMBER 9, 2018
Two Singapore-based FinTechs are combining their services to create a unified supply chain financing tool. Reports in Vulcan Post on Thursday (Nov. 8) said that eProcurement platform SESAMi and alternative and invoice financing firm Capital Match are merging their companies to roll out a “fully integrated supply chain financing solution to corporates and their suppliers,” the companies said in a joint announcement.
CB Insights
NOVEMBER 9, 2018
After the success of Corporate Innovation Theater , we wanted to issue a more comprehensive guide to corporate innovation. Something actionable and easy to digest. Given the importance of innovation to drive the longevity, growth, and competitiveness of large corporations, here are 19 bulletproof strategies you can use to look innovative. Note: We’ll be revealing data on the effectiveness of accelerators, how not to F up M&A, and whether having a Chief Digital Officer drives better sto
PYMNTS
NOVEMBER 9, 2018
A new poll shows that Americans believe Facebook to be the least trustworthy of all the major technology companies as far as protecting user data. According to a new national Fortune poll , only 22 percent of Americans “trust Facebook with their personal information,” compared to Amazon at 49 percent, Google at 41 percent, Microsoft at 40 percent and Apple at 39 percent.
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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
NOVEMBER 9, 2018
PNC is piloting IDEMIA’s motion code card which offers a dynamic CVV2 security code for its commercial clients in an effort to combat card not present fraud.
PYMNTS
NOVEMBER 9, 2018
MoneyGram shares sank as much as 25 percent during intraday trading on Friday (November 9), as the company reported results that reflected the impact of new compliance rules to stop fraudulent transactions, which has hurt top line momentum — and which will continue. And, as previously reported, the company has disclosed that it has agreed to pay $125 million as part of settlements with the Federal Trade Commission and the Justice Department tied to fraud allegations.
Payments Source
NOVEMBER 9, 2018
A new group aims to foster collaboration between fintechs and state and federal officials in the fight against crime — without hindering legitimate business innovation.
PYMNTS
NOVEMBER 9, 2018
It was another busy week for B2B FinTech startups, with globally and vertically diverse companies securing new funding for their enterprise-targeting tools. The big news of the week comes from TripActions , a corporate travel solutions provider that secured unicorn status with its latest fundraise (the largest in this week’s breakdown). Other notable rounds included a $60 million investment in a logistics software firm, as well as several investments in the alternative small business (SMB)
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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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