Tue.Jan 09, 2018

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Banking as usual is NOT an option

Chris Skinner

I’ve blogged quite a bit about adapting to change lately, and will continue to do so as banking-as-usual (BAU) is not an option. It’s similar to standing in the middle of the road. If you stand there for long enough, you’ll get run over. This is as true in banking: … The post Banking as usual is NOT an option appeared first on Chris Skinner's blog.

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TransferWise to Open ‘Borderless’ Accounts and Debit Cards

Bank Innovation

British money transfer TransferWise will officially launch its “borderless” account product this year, complete with linked debit cards, the company announced. The “borderless” service allows customers to use just the one account to hold up to 28 currencies, TransferWise said. The accompanying debit cards allow users to spend in their local currency across the globe, […].

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A 2018 resolution: Smoother mobile payments

Payments Dive

Today's mobile payments experience has too many potential cracks in the system waiting to form that put a snag in the potential of a smooth ride start to finish. The industry should work to prevent such issues as much as possible.

Mobile 297
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Mobile Payments Needs to Move Past ‘Chicken-and-Egg’ Syndrome for Higher Adoption

Bank Innovation

While mobile banking has become normal for the majority of Americans, mobile payments remain less ubiquitous in the U.S. To change that, merchants and consumers are going to have to find a way out of the “chicken-and-egg” syndrome that is slowing adoption, a report released last week by Federal Reserve Bank of Boston found. While […].

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Things worth reading: 10th January 2018

Chris Skinner

Things we’re reading today include … After 12 years at the helm, two bank CEOs ponder the future Which Brexit for the financial industry? Road to bitcoin ETF paved with red tape Alibaba founder says will “seriously consider” HK listing Brexit: EU ‘surprised’ at UK no-deal planning concerns CES 2018: … The post Things worth reading: 10th January 2018 appeared first on Chris Skinner's blog.

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More Trending

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Eastman Kodak Launches Photo-Focused Cryptocurrency

PYMNTS

Following in the footsteps of companies seeking to get in on the cryptocurrency craze, Eastman Kodak Co. is launching its own digital currency, Bloomberg reports. The cryptocurrency, which the company is calling Kodakcoin, will be “a photocentric cryptocurrency to empower photographers and agencies to take greater control in image rights management.”.

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German Startup Smava Will Use $65M Funding to Expand Across Europe

Bank Innovation

Berlin-based startup Smava has raised $65 million in funding to expand its loan platform outside of Germany, the company announced yesterday. The startup will use the capital to grow its loan portal, where consumers can search for and take out loans. Smava originally started out as a P2P lender, matching borrowers with willing individual lenders […].

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Consumers Are Increasingly Researching Purchases Online

PYMNTS

It appears that 2017 was a good year for omnichannel shopping, particularly according to the eCommerce Foundation’s recently released “United States Ecommerce Country Report” that covered eCommerce data from the last year. That data strongly indicates 88 percent of consumer pre-research their buys online before making a purchase either online or in-store.

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Alibaba Group May Be Listed on Hong Kong Stock Exchange, Jack Ma Says

Bank Innovation

Jack Ma, founder of e-commerce company Alibaba Group is seriously considering listing the company on Hong Kong’s exchange, he said. Alibaba’s $25 billion IPO on the New York Stock Exchange in 2014 was the largest in history. Yesterday, when Ma was asked by Hong Kong Chief Executive Carrie Lam at the inauguration ceremony of the […].

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The State of Automation in Financial Services 2024 Report

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

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August Access Expands In-Home Delivery Beyond Walmart

PYMNTS

An expanded delivery platform from Assa Abloy ’s smart lock startup will now allow merchants to offer in-home deliveries to their customers, TechCrunch reports. Months after a test with Walmart, August Home is rolling out August Access with its courier partner, Deliv. Available to those with a smart lock from August, Emtek or Yale, the service will appear as another delivery option for merchants that participate in the program.

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Backing the right horse: Factors for success in transformation investments

Insights on Business

When it comes to digital transformation, how do you manage investments to accelerate results? For banks, the three elements for transformation success are: Security. Culture. Enterprise integration. In this episode of the Boardroom Advisory Series, we discuss the importance of each of these three elements. Here’s the preview: Watch the video. Security.

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Community Banks Aim To Amplify Competitive Edge With FinTechs

PYMNTS

With big banks pulling back from small and medium-sized business (SMB) lending in the wake of the global financial crisis, the market was ripe for someone else to fill the credit gap. Enter: alternative lenders. While marketplace lending platforms and alternative finance players first surfaced to compete with traditional financial institutions (FIs), many large banks have now realized that collaborating with these companies is the way to better service SMBs — and without the added investment in

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Putting the Tech Back in FinTech – SeedPlus Session

Let's Talk Payments

The advent of FinTech has led to many FinTech-oriented conversations focused on aspects other than technology – regulatory, sales, business, ecosystems, etc. The role of “Tech” has been somewhat dimmed.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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PayPal’s Schulman Not A Bitcoin Fan

PYMNTS

Digital payment company PayPal is not betting on bitcoin as of now. In an interview with TheStreet.com, PayPal chief executive officer Dan Schulman said that while PayPal is focused on innovating in the payment market, it’s not focused specifically on the digital currency. “I think right now, and we’re seeing this maybe more than ever, the volatility of the cryptocurrency makes it actually unsuitable to be a real currency that retailers can accept,” Schulman said in the interview.

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Account takeover is costly, but it can be contained

Payments Source

Account takeover's harder to quantify than payment fraud because it has so many elements and downstream impacts, writes Kevin Lee, trust and safety architect at Sift Science.

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Bitcoin Parody Dogecoin Hits All-Time High: $2 Billion

PYMNTS

In the crypto world, everyone knows you are a dog (meme). So it was with Dogecoin, originally created as a parody of crypto…and now as buoyant as some of the real deal. The alternative crypto inspired by a dog meme now has a $2 billion market cap, as noted by Business Insider and other sources. The currency features a dog, and even founder Jackson Palmer has said he worries about market froth.

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Can Amazon's Alexa ever pivot to advertising?

Payments Source

The access Alexa gets by being built into users' home speakers and tablets is a delicate trust; if Amazon oversteps its boundaries, it might find Alexa gets muted or locked down.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Ripple Leads Cryptocurrencies Lower

PYMNTS

Cryptocurrencies led by real-time gross settlement (RTGS) system Ripple’s XRP fell in trading Monday (Jan. 8) as investors bet its stock surge was a bubble. . According to a report in CNBC, Ripple was down 10 percent while bitcoin fell 7.6 percent, and lifecoin dropped 6.4 percent. Ethereum bucked the declining trend Monday trading up 4.7 percent, however.

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Dimon says he regrets bitcoin comments, calls blockchain 'real'

Payments Source

Jamie Dimon, the JPMorgan Chase chief executive officer who earlier called the cryptocurrency a "fraud," said Tuesday he wishes he hadn't dismissed the technology in such broad terms.

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UnionPay Enables Cross-Border B2B Payments For Yiwu Market

PYMNTS

UnionPay International is expanding its support for cross-border B2B payments through an integration with wholesale eCommerce market Yiwu Market, based in China. According to a press release issued on Monday (Jan. 8), UnionPay’s Cross-Border B2B Payment Service Platform is now linked into the official Yiwu Market website, enabling corporate buyers outside China to pay for goods on Yiwu using UnionPay cards issued overseas.

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The ATM is dead â?? long live the ATM!

Bobsguide

It has been well-documented that last year was the 50th anniversary of the first ATM installation in London. Tabloid newspapers across the world have speculated over the future of this self-service device, debating everything from integration with AI and robotics down to whether there really is a.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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What’s Old Is New Again: Surge Pricing

PYMNTS

It’s every Uber rider’s worst nightmare: A ride that costs hundreds of more dollars than expected. In October, an Illinois woman hopped out of an Uber after a 100-mile ride to discover she had been charged nearly a thousand dollars. The ride — from a Chicago suburb to O’Hare International Airport and back — would normally cost $120. But, due to the ridesharing giant’s “surge pricing” strategy, the ride cost nearly eight times higher.

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Alliance Data to launch Ikea co-branded, private label credit cards

Payments Source

Alliance Data Systems is developing a co-branded credit card and a private-label credit card program with Sweden-based Ikea’s U.S. furniture store operations.

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Bringing The Video Store Back In The Age Of Netflix

PYMNTS

Seeing a movie at the Alamo Drafthouse is a unique cinematic experience — which is saying something, given that movies are a fairly stereotyped affair. Customers go to the theater, purchase their tickets, buy popcorn and retreat to a large, dark room to watch a film on a massive screen with amped up surround sound. There have been changes to the model on the margin.

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01.09.18 Your morning briefing

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: Toyota demos driverless delivery; Venezuela plans oil cryptocurrency; Bango teams with Netflix in Mexico; Vermont may tax cryptocurrency.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.