Payments Dive
OCTOBER 31, 2019
Artificial Intelligence (AI) in banking can be used to establish more meaningful conversations with customers by solving real problems and managing finances.
Bank Innovation
OCTOBER 31, 2019
Digital financial services from lending to asset management are expected to generate at least $38 billion of annual revenue across Southeast Asia by 2025, more than tripling from $11 billion in 2019, according to a new study by Bain & Co., Google and Temasek Holdings Pte. Online lending will comprise about half that total for […].
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Payments Dive
OCTOBER 31, 2019
Graham Mott, head of strategy at Link, which oversees the U.K.'s network of ATMs, believes that contactless cards are behind the globe's shrinking reliance on cash.
Chris Skinner
OCTOBER 31, 2019
My children are big fans of The Gruffalo. If you’re not familiar with The Gruffalo, it’s the story a mouse who might get eaten by threatening creatures like a Fox, an Owl or a Snake, but makes up a fictional character who could actually eat them instead. The fictional character, … The post The Gruffalbank appeared first on Chris Skinner's blog.
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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
OCTOBER 31, 2019
San Francisco-based credit startup Zero is taking its debit-style credit model to Android. Bryce Galen, CEO and co-founder of Zero, told Bank Innovation the launch is evidence of the growing demand for “financially responsible” credit cards. The company launched an iOS app earlier this year. The card is made possible through partnerships with WebBank, Evolve Bank & […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
OCTOBER 31, 2019
The Clearing House launched its real-time payments (RTP) network two years ago with the goal of bringing instantaneous payments to financial institutions in the U.S. So far, more than half of the transaction accounts in the U.S. are on it. The goal is to reach all accounts by 2020. But news that a real-time payments […].
Accenture
OCTOBER 31, 2019
In recent years, we’ve seen competition intensify across virtually all areas of the UK and Ireland banking industry. But—in my view—wealth management is one of the areas in which these competitive pressures are really reshaping the industry. This trend partly reflects the rising number of players in the market. Incumbent financial institutions are seeking out….
Abrigo
OCTOBER 31, 2019
CECL | 6 minute read Key Takeaways The FASB affirmed plans to extend deadlines for CECL implementation; a final vote is expected in November. The board will monitor whether it has divided the two adoption-date buckets in the most appropriate way. FASB staff reported on implementation workshops underway. . The current expected credit loss, or CECL, effective dates have been extended for all but the larger SEC filing institutions, correct?
PYMNTS
OCTOBER 31, 2019
iPhone growth continues to look sluggish, but Apple’s earnings report was a mostly story about growth once one got away from the figures on the firm’s flagship product. Particular areas of strength were Apple wearables and the services business line. On the whole, Q4 was a strong enough showing that investors were satisfied and Apple stock price was up slightly in after-hours trading.
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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
CFPB Monitor
OCTOBER 31, 2019
In this podcast, we are joined by Scott Ferris, CEO of Attunely, a provider of machine learning (ML) and artificial intelligence (AI) technology to the debt collection industry. We look at how changes in consumer behavior have impacted collections, technology’s role in collections, state law’s/GDPR’s impact on ML/AI and compliance strategies, how ML/AI can improve profitability, and perceived impediments to adopting ML/AI.
PYMNTS
OCTOBER 31, 2019
Seven years ago, when Visa first started working on bringing contactless payments to London’s Mass Transit system, the landscape for tap and go cards looked very different. The technology, Visa’s Global Head of Urban Mobility Nick Mackie told Karen Webster in a recent conversation, was still in its most nascent stages of deployment — outside of Europe the contactless cards essentially didn’t exist, and within Europe 1 out of every 400 payments in Europe made via contactless.
Independent Banker
OCTOBER 31, 2019
“A plethora of new digital payments offerings now must factor into business strategies.”. As Winston Churchill said, “To improve is to change; to be perfect is to change often.” That sentiment rings true for digital payments. Today, community bankers hold a place at the digital payments table, both as drivers of change and as witnesses to the flurry of activity.
PYMNTS
OCTOBER 31, 2019
A new survey from J.D. Power suggests small businesses have begun to embrace mobile banking and are satisfied with the service. Released on Thursday (Oct. 31), the J.D. Power 2019 U.S. Small Business Banking Satisfaction Survey found an 8 percent year-over-year increase in the percentage of small businesses that use their bank’s mobile banking app (61 percent in 2019, compared to 53 percent in 2018).
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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.
Insights on Business
OCTOBER 31, 2019
In the continued evolution of the IBM Governance Risk and Compliance (GRC) product line, I am pleased to announce that effective today, Algo FIRST (FIRST) is rebranded to IBM FIRST Risk Case Studies. Algo FIRST was acquired by IBM as part of the Algorithmics acquisition which took place in October 2011. During its time at IBM, FIRST has become closely aligned and integrated with IBM OpenPages.
PYMNTS
OCTOBER 31, 2019
In the flurry of payments innovation, it can be difficult to remember that legacy tools remain commonplace, especially in corporate payments. Take the lockbox, for example. It’s a service designed around the ubiquity of the paper check, and with checks still a popular payment tool in B2B transactions, lockbox services remain in high-demand. One of their biggest benefits for users is not only its ability to offer a secure location in which to receive paper checks; the lockbox is also critical to
Insights on Business
OCTOBER 31, 2019
How do compliance professionals manage more than 57,000 regulatory alerts in one year? IBM OpenPages with Watson recently had the opportunity to join host Thomson Reuters for a morning of regulatory compliance thought leadership to explore this very topic. The day began on the 29 th floor of Thomson Reuters client center bringing together more than 70 compliance and risk professionals from the Toronto financial services community.
PYMNTS
OCTOBER 31, 2019
Proposed bipartisan legislation wants to make sure that search engines disclose the algorithms they use to determine what content to share, as well as enable consumers to opt for unfiltered searches if desired. The Filter Bubble Transparency Act, filed by Sen. John Thune (R-S.D.) and co-sponsored by a bipartisan group of lawmakers, would aim to bring more transparency to the way search engines filter results for individual searches.
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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.
Insights on Business
OCTOBER 31, 2019
In the continued evolution of the IBM Governance Risk and Compliance (GRC) product line, I am pleased to announce that effective today, Algo FIRST (FIRST) is rebranded to IBM FIRST Risk Case Studies. Algo FIRST was acquired by IBM as part of the Algorithmics acquisition which took place in October 2011. During its time at IBM, FIRST has become closely aligned and integrated with IBM OpenPages.
PYMNTS
OCTOBER 31, 2019
Brothers Ross and Jesse Harding were best friends growing up in Omaha, but they ended up growing apart when life took them to other places. When Jesse moved to California and Ross went to the University of Virginia, they were connected in the sense that they posted on one another’s Facebook walls or liked each other’s photos. But they didn’t talk on the phone much and they only saw each other once or twice a year around the holidays.
Insights on Business
OCTOBER 31, 2019
How do compliance professionals manage more than 57,000 regulatory alerts in one year? IBM OpenPages with Watson recently had the opportunity to join host Thomson Reuters for a morning of regulatory compliance thought leadership to explore this very topic. The day began on the 29 th floor of Thomson Reuters client center bringing together more than 70 compliance and risk professionals from the Toronto financial services community.
PYMNTS
OCTOBER 31, 2019
Uber is not going to build a $40 million safety and support center in Colombia after all, citing regulatory restrictions. Reuters is reporting that the center was going to be the ridesharing company’s third in Latin America. Uber is also illegal in the country, even though it is widely used. The company has been fined hundreds of thousands of dollars for its obstruction of a 2017 regulatory visit.
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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.
Insights on Business
OCTOBER 31, 2019
How do compliance professionals manage more than 57,000 regulatory alerts in one year? IBM OpenPages with Watson recently had the opportunity to join host Thomson Reuters for a morning of regulatory compliance thought leadership to explore this very topic. The day began on the 29 th floor of Thomson Reuters client center bringing together more than 70 compliance and risk professionals from the Toronto financial services community.
PYMNTS
OCTOBER 31, 2019
Small- and mid-sized businesses (SMBs) lack the financial buffers of their larger corporate counterparts and so are especially vulnerable to cash flow interruptions. These smaller players find it especially important to be sure they are paid on time and have the most efficient accounts receivable (AR) practices they can. The slow, expensive process of handling print invoices is a barrier to smooth cash flow, and SMBs can make their operations run smoother by tapping AR tools for digital payments
Payments Source
OCTOBER 31, 2019
Currencycloud plans a multi-currency feature; Jack Dorsey invests in crypto startup; and other information you need to start your day, from PaymentsSource and around the web.
PYMNTS
OCTOBER 31, 2019
The U.K.’s Commonwealth Trade Bank is planning to overhaul its trade finance infrastructure and has announced a new partner to support the initiative. A press release this week said Intellect Design Arena will connect Commonwealth Trade Bank to its Intellect Digital Core Solution, IDC 19.1, which Intellect said would help the financial institution (FI) to promote its digitization efforts.
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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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