Chris Skinner
SEPTEMBER 20, 2017
I’ve written a lot about legacy and the challenge of old systems, so it’s interesting to read a few press reports on said subjects. Yolanda Bobeldijk writes in the Financial News that 92 of the world’s top 100 banks still rely on IBM mainframes. Now that’s not an issue if … The post Which banks are leading digital (and who are the laggards)? appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 20, 2017
Savings fintech Raisin has made its first move into the United Kingdom savings market, acquiring customer acquisition and onboarding company PBF Solutions. The move is aimed at providing the Berlin-based Raisin a firm way forward into the United Kingdom, a market that will soon be independent from the European Union, where Raisin already operates. The […].
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Payments Dive
SEPTEMBER 20, 2017
Networld Media Group handed out awards to honor seven innovators in the ATM and mobile technology industries. The awards gala took place on Sept. 19 in conjunction with the Bank Customer Experience Summit.
Bank Innovation
SEPTEMBER 20, 2017
Blockchain and cryptocurrency startup Ripio Credit is moving forward with its plans to use the blockchain to usher in a newer, lower-friction way of banking. The Buenos Aires- based startup, formerly known as BitPagos, will be debuting its “Ripio Credit Network” in November 2017, a platform that will use the Ethereum blockchain to connect borrowers […].
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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
PYMNTS
SEPTEMBER 20, 2017
Hilton Hotels, a hotel operator , announced Tuesday (Sept. 19) that Hilton Honors loyalty rewards members will now be able to redeem their Hilton Honors rewards points on Amazon.com. In a press release , Hilton said the program has 66 million members and also announced it is the first hotel operator to offer customers the ability to redeem rewards points through Amazon. .
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
SEPTEMBER 20, 2017
JPMorgan Chase is the latest financial institution to team up with a B2B payments FinTech. Reports Tuesday (Sept. 19) announced news that JPMorgan is partnering with Bill.com to integrate its B2B payments technology into its own Chase platforms early next year. They include electronic invoicing (eInvoicing) and other cash management solutions, with JPMorgan noting that the technology could help its business customers save up to 50 percent of the time they spend manually paying bills.
Bank Innovation
SEPTEMBER 20, 2017
EXCLUSIVE — While more and more consumers are flocking to mobile banking, users are still reticent to go to mobile for more complex financial transactions, like applying for a mortgage. However, while users might not be ready for a new mobile mortgage experience, that doesn’t mean they aren’t ready for a new kind of mortgage, […].
PYMNTS
SEPTEMBER 20, 2017
For humans, the key to a longer life involves a healthy diet, exercise and a commitment to healthy living. For credit unions , the formula seems to be slightly different, although there’s still a decidedly human element to staying in business and helping members maintain financial health. It all starts with listening. While it may not be the oldest credit union around, the Boeing Employees Credit Union (BECU) of Tukwila, Washington, has been in business since the days of the Great Depression.
Bank Innovation
SEPTEMBER 20, 2017
Mexican President Enrique Peña Nieto is presenting a legislation that proposes to regulate cryptocurrency to the Mexican Senate today, according to reports. The legislation states that cryptocurrencies are not considered legal tender in Mexico, and proposes that the country’s central bank – the Bank of Mexico – should regulate firms working with these cryptocurrencies.
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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
SEPTEMBER 20, 2017
As business travel plays catchup to the consumer travel space and the technology deployed to improve the traveler experience, companies now enjoy a market saturated with choices for travel booking, expense management and traveler management. Ongoing global economic improvement, coupled with stable and improving airfares, means companies are spending big on travel.
Gonzobanker
SEPTEMBER 20, 2017
Finovate kicked off on 9/11 in New York City, a great message to the world about how The Big Apple operates 16 years later: living freely, building, dreaming, and getting stuff done. The event, well known and copied for its 7-minute, speed demo, shark tank format, didn’t disappoint this round. Time has always been the great equalizer, and it worked here for both system demos and industry analyst rants.
PYMNTS
SEPTEMBER 20, 2017
In an interview with PYMNTS’ Karen Webster, Flywire CEO Mike Massaro said the back-to-school season thus far has been a strong one, with double-digit growth seen as students in one country decide to study in another. Consider China’s 10 percent growth in international students, with 80,000 Chinese students going to study in the United Kingdom alone.
NCR
SEPTEMBER 20, 2017
Maximizing financial inclusion by making banking products and services as easily accessible as possible should be an important goal for all financial institutions. According to UK-based charity Leonard Cheshire , there are one billion people living with disabilities around the world – nearly a sixth of the global population. Four out of five disabled individuals live in developing countries, while more than 400 million live below the poverty line.
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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
SEPTEMBER 20, 2017
Marching down the aisle may eventually deliver a whole new bundle of … wait, we’re not talking about babies. We’re talking about payments. Lots of them. In a world where payment processing is slated to grow by as much as 33 percent annually over the next few years, as measured by Allied Market Research , the talent acquisition deal between Vantiv and Worldpay stands out.
Payments Source
SEPTEMBER 20, 2017
The third-party wallets don't market interoperability or share much data, frustrating the process of adding new riders.
PYMNTS
SEPTEMBER 20, 2017
Normally an email from Amazon telling you someone paid for a gift off your baby registry is good news — another need met, another dollar saved. But that feeling of good cheer is predicated on two things being true: You actually are having a baby; and you actually have a baby registry on Amazon. If, however, neither of those things are true, then the situation is somewhat less delightful and rather more menacing.
Payments Source
SEPTEMBER 20, 2017
Data breaches and payment hacks require not only tech measures, but crisis management. Had Equifax gotten out in front of the story, particularly during the slow news period of August, it would have earned kudos and perhaps mitigated some of the public scrutiny, writes David E. Johnson, CEO of Strategic Vision.
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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
SEPTEMBER 20, 2017
Deloitte is now offering a platform allowing small and medium-sized businesses (SMBs) across Canada to gain greater control of cash flow. The company’s Deloitte Private unit announced the launch of ctrl on Tuesday (Sept. 19). ctrl is a cloud-based platform providing accounting, payroll and analytics solutions for Canadian SMBs. The tool integrates bookkeeping and management of financial statements, as well as both personal and corporate tax returns, the company added, and acts as a platfor
Payments Source
SEPTEMBER 20, 2017
Consumers and merchants in a digital ecosystem are changing the way people interact with each other and machines, changing payments and requiring an updated approach to security, according to Mastercard.
PYMNTS
SEPTEMBER 20, 2017
The Consumer Financial Protection Bureau announced Tuesday (Sept. 19) that it took action against Top Notch Funding and two individuals associated with the company. In a press release , the government watchdog contended the company and two individuals lied about loan offerings to consumers who were awaiting payment from settlements in legal cases or from victim-compensation funds.
Payments Source
SEPTEMBER 20, 2017
Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: AXA uses smart contracts for flight delay payments; FCA issues PSD2 guidance; ING adds comparisons for transfer apps; iZettle draws investment.
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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
SEPTEMBER 20, 2017
Instead of adopting the retail standard operating procedure of reducing unemployment and hiring temporary extra workers for the holiday shopping season, Walmart has decided to stick with its permanent workforce and offer those employees the chance to log some extra hours and boost their salary. “These extra hours will help staff traditional roles like cashier and stocker and newly created technology-empowered positions such as personal shoppers and Pick-up associates,” Judith McKenna, Walmart’s
Payments Source
SEPTEMBER 20, 2017
Historically, the industry has placed much greater emphasis on preventing fraud at the point of transaction without doing enough to stop fraudulent account openings, writes Melissa Townsley, co-founder and CEO of GIACT systems.
PYMNTS
SEPTEMBER 20, 2017
Domestic merchandise retailer Bed Bath & Beyond’s stock took a 12-point hit after Wall Street got a look at its latest earnings report and did not much like what it saw. Same-store sales — the Street’s favorite metric for physical retail — were down 2.6 percent, according to the most recent numbers, and analysts were only anticipating a 0.7 percent decline.
Payments Source
SEPTEMBER 20, 2017
China’s crackdown on cryptocurrency exchanges raises questions about the future of digital asset innovation, a movement that some bankers view as a threat and others embrace as a boon to payments, P-to-P lending and other activities.
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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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