Chris Skinner
MAY 8, 2018
I have several friends in the FinTech world whose views I respect, and one of those is Steve Lemon, a co-founder of Currencycloud. He recently sent me this viewpoint, which I think is worth sharing. Enjoy! Is the weak link in alternative banking cross-border payments? by Steve Lemon, VP, Corporate … The post Is the weak link in alternative banking cross-border payments?
Bank Innovation
MAY 8, 2018
Mastercard launched PromptPay, a P2P payments application, in January 2017 in Thailand. The app now has more than half of the Thai population registered — 40 million people with over 173 million transactions and 700 billion baht ($22 billion) in money transfer value, according to data newly released by Mastercard. The product comes from Mastercard’s […].
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Payments Dive
MAY 8, 2018
Mobile Payments Today is preparing the 2018 edition of the Mobile Wallet Comparison Guide. If your company provides a mobile wallet, you're eligible for a free listing in the guide.
Bank Innovation
MAY 8, 2018
Fintech startups have taken note of the vast opportunity in the SME space, which has been underserved by banks since the financial crisis. Add to this the growing number of freelancers and independent contractors, and the market becomes even more attractive. “Small businesses are extremely profitable banking customers,” Trevor Dryer, CEO of Mirador, an SME […].
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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
Chris Skinner
MAY 8, 2018
Things we’re reading today include … Recession won’t come until at least 2021, Bank of America Deutsche Bank Weighs Cutting U.S. Staff by About 20% Chinese banks are big. Too big? As Cryptocurrencies Rise, Who Needs Banks? Swedish fintech group iZettle to seek $1.1bn valuation in IPO RBS boss tells … The post Things worth reading: 9th May 2018 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
MAY 8, 2018
FSS Instant Payments is a real-time, instant, interbank account-to-account electronic fund transfer service, available 24/7/365, with secure transaction posting and immediate noti?cation features within seconds of payment initiation.
Bank Innovation
MAY 8, 2018
Zelle is not working on a point-of-sale payments solution right now. “Zelle moved $25 billion last quarter,” said Norm Marraccini, vice president of product management and marketing, digital payments at FIS. “When are we going to see Zelle at the point-of-sale?” Marraccini pointed out that Venmo’s payment volume for that quarter was less than half […].
PYMNTS
MAY 8, 2018
Drive.ai , the California self-driving car startup, announced Monday (May 7) that it is launching an on-demand self-driving car service pilot in Frisco, Texas. In a press release , Drive.ai said that starting in July — and in conjunction with the Frisco Transportation Management Association, it will offer rides to more than 10,000 people in self-driving vehicles.
Bank Innovation
MAY 8, 2018
INV Fintech, the sister accelerator to Bank Innovation, announced a partnership today with the Berlin-based Open Bank Project to provide sandbox and development services to the startup and its 13 partner companies. The sandbox will offer startups in the INV Fintech accelerator a secure digital space to access and incorporate bank data into their applications. […].
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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
MAY 8, 2018
Equifax , the embattled credit scoring company that was the subject of a massive data breach last fall, provided several congressional committees in the Senate and House with more information on the data compromised in the breach. In a press release , Equifax said the additional details do not identify additional stolen data or new customers that were impacted, nor do they require more consumer notifications.
Payments Dive
MAY 8, 2018
Control fraud, reduce friction, and enhance consumer experience.
PYMNTS
MAY 8, 2018
Small businesses (SMBs) prefer not to seek funding to finance their innovative endeavors, according to new research from BMO Wealth Management , which suggests SMBs are missing out on opportunities to drive growth. A survey of more than 1,021 small businesses in the U.S. published in BMO Wealth Management’s “ Creating Wealth through Business Improvements ” report on Monday (May 7) found that 60 percent of small businesses have never sought funding to support investment in innovation.
Payments Dive
MAY 8, 2018
Feature rich platform to enable omni channel acquiring.
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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
MAY 8, 2018
Chief financial officers (CFOs) surveyed by The Economist Intelligence Unit revealed a lack of visibility into corporate spend in a new survey released on Monday (May 7). The report, “The Strategic CFO in a Rapidly Changing World,” commissioned by corporate expense management firm Coupa , found that of more than 500 CFOs surveyed, more than 60 percent said they don’t have total visibility into company spend.
Bobsguide
MAY 8, 2018
“Political risk? SAD!” With the global economy continuing to grow steadily without evidence of a strong upsurge in inflation, recent market corrections have increasingly been driven by concerns about political developments. Whether these appear in the form of a tweet from the US.
PYMNTS
MAY 8, 2018
Elon Musk just might become the next Willy Wonka with his latest venture. It’s not exactly as ambitious as the hyperloop, but it does follow in the footsteps of other creative product ideas: Musk might be starting a candy company, Mashable reported. Musk made the business announcement through Twitter on Saturday (May 5): “I’m starting a candy company & it’s going to be amazing,” he tweeted.
Payments Source
MAY 8, 2018
The expansion of Visa Direct is designed to speed disbursements for health care patients who can receive an instant payment versus waiting several days to a week for payout.
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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.
PYMNTS
MAY 8, 2018
As a college student in the 1970s, Murray Lappe heard that his fellow students wanted to promote their organizations through a new medium. During a retreat, the students thought of having a traditional bulletin board, but Lappe had an alternate take: Why not digitize the concept? “We kicked the idea around, and it got some interest,” Lappe told kioskindustry.org.
Bobsguide
MAY 8, 2018
International treasury and fintech – what’s holding us back? In recent years, the biggest financial players with the strong, established corporate relationships have sought to adopt new technologies in the pursuit of better processes to revolutionise business performance.
PYMNTS
MAY 8, 2018
Walmart is changing its opioid policy following recommendations from the Centers for Disease Control and Prevention (CDC), limiting the length of the opioid prescriptions it will fill and only accepting e-prescriptions starting in 2020, according to CNN Money reports. On Monday (May 7), Walmart said it will only accept first-time opioid prescriptions for seven days or fewer, and will only fill 50 morphine milligram equivalents each day starting in the next two months.
Payments Source
MAY 8, 2018
January 14, 2020 seems like a long way away. But there are less than two years before the Windows 7 cut-off date hits; and time flies when it comes to ATM upgrades, writes Paul Albright, executive vice president of Outsource ATM.
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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.
PYMNTS
MAY 8, 2018
Chinese eCommerce giant Alibaba has acquired Daraz , Pakistan’s most popular online shopping destination, thus expanding its empire into South Asia. Daraz was founded by Rocket Internet in 2012 and has since expanded across five South Asian markets, including Bangladesh, Myanmar, Sri Lanka, Nepal and, of course, its home country of Pakistan. Altogether, these markets have a population greater than 460 million, more than 60 percent of which is under age 35.
FICO
MAY 8, 2018
The AI Revolution - Are You Ready? With most of the world's innovation created in just the last 150 years, human progress has occurred in what is essentially a historical blink of an eye. The steam engine created a force multiplier of human strength, transforming agriculture and manufacturing and kicking off the industrial revolution. Computers and the internet forever changed our capacity to build and access knowledge, producing everything from smartphones and wikipedia to FaceTime and Facebook
PYMNTS
MAY 8, 2018
Given that the average American checks his Facebook page some 14 times a day, the social media giant’s decision to expand into online dating is less than shocking. Some pair-ups are just predictable, after all. Mastercard and Unilever announcing they would work together to expand microlending in Kenya was less-than-easy to foresee, however, and then there are the cases in between: Credit unions wanting to compete with big banks by joining forces is probably to be expected, but how CO-OP Financ
Payments Source
MAY 8, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Apple plans to meet with Toronto transit officials; Cryptocurrency goes to the movies; Swedish startup organizes APIs; Digital billing advances in Pakistan.
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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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