Bank Innovation
JUNE 27, 2017
Blockchain may finally live up to its trade finance potential — thanks to IBM and Hyperledger. A consortium of seven European banks (including Deutsche Bank, HSBC, Societe Generale, Unicredit, Natixis, KBC, and Rabobank) will build a blockchain-powered trade finance platform, built by IBM using Hyperledger Fabric. “This is not a proof-of-concept or a pilot—we are building […].
Chris Skinner
JUNE 27, 2017
I find it amusing to think about this age of self-service, where we take it for granted that it’s cheaper, easier and more personalised to your own wishes if you book it yourself. And, for most of the time, that works well. Except when you mess things up, like booking non-refundable flights on the wrong dates or ordering that big shiny outfit on eBay that turns out to be designed for your Barbie doll.
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Bank Innovation
JUNE 27, 2017
INV Fintech, this site’s sister accelerator, announced a partnership today with Shanghai-based JadeValue, an incubator and investment fund, to enhance financial technology startups in both the United States and China. INV startups will be introduced to JadeValue for investment and introduction to the Chinese market through JadeValue or its parent company, CashBUS, a Shanghai-based personal lender.
PYMNTS
JUNE 27, 2017
Wealthy countries with developed financial and payment infrastructures are most likely to have their data encrypted and held for ransom by cybercriminals, according to a recent report by global cybersecurity company Kaspersky Lab. In 2016-17, cyber attackers have set their sights on mobile users in the U.S., first and foremost, with Canada, Germany and the U.K. following closely in terms of risk.
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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
JUNE 27, 2017
Still working on that Venmo-killer app? It might be a better idea to focus on its parent company. Most millennials—more than 90%—have used or are using PayPal currently, according to the Millennial Money survey released last week by Vested. Other “innovative” banking products (i.e., those that are not attached to incumbents or traditional banking services) […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JUNE 27, 2017
The opportunity ship has sailed for personal finance management, lending, or robo advisory sectors of fintech, according to Rebecca Lynn, co-founder of venture capital firm Canvas. So where are investors looking for new opportunities? “Startups that are addressing the infrastructure issues of banking, whether it’s blockchain, or fraud prevention, or compliance,” she said during the Future […].
PYMNTS
JUNE 27, 2017
PayU , a global online payment service provider headquartered in Copenhagen, has launched a new single API integration that will allow merchants to boost their business in high-growth markets. According to GrowthBusiness.co.uk , the PayU Hub provides merchants with access to 2.3 billion potential new customers in major markets across Asia, Central and Eastern Europe, the Middle East, India, Africa and Latin America through a single integration.
Bobsguide
JUNE 27, 2017
Over the decades, crises and subsequent regulatory change has transformed the risk-led financial services sector. However, financial organisations also have had reputations as early technology adopters, some quite “wild west” in their quest for differentiation and profitability. On one.
PYMNTS
JUNE 27, 2017
Maybe. Over the course of the last few years, eCommerce has sprung up and put the brick-and-mortar side of the retail industry on notice. A growing number of eCommerce-focused merchants like Amazon have gradually increased their footprint in the physical store space. With the opening of the Amazon Go grocery store and bookstore in Seattle, Amazon is breathing innovation into the stodgy brick-and-mortar experience.
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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
Let's Talk Payments
JUNE 27, 2017
We, the LTP Team, are excited to share our traditional, collectively captured mid-year snapshot of the most interesting happenings in the year 2017. Following our traditional mid-year reviews (you can.
PYMNTS
JUNE 27, 2017
Payday loans and associated non-bank financial services are not popular products by the standard definition. Depending on which figures one uses, 3 percent to 5 percent of American consumers view payday lending or associated non-bank financial services like check cashing favorably. That, according to Americans for Financial Reform, makes those products less popular among the average American than used car salesmen or Wall Street bankers.
Let's Talk Payments
JUNE 27, 2017
On May 15, SixThirty opened the application for the Fall 2017 Seed Fund & Business Development Program. The Fall 2017 Portfolio will mark the ninth cycle of the program since.
PYMNTS
JUNE 27, 2017
As mobile devices continue to be a pervasive force in the technology arena, so does the need for forward thinkers in the field. Those that are constantly developing new ways to integrate connected experiences into people’s lives will probably be at the forefront of the tech industry. In this week’s Commander in Chief series, PYMNTS talks with mobile capture and identity verification company Mitek Systems ’ CEO James DeBello about what moves the ball for the mobile industry.
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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.
Let's Talk Payments
JUNE 27, 2017
Brazil is experiencing a boom in startups and, specifically in the FinTech segment. According to entrepreneur Bernardo Pascowitch, Director of ABFinTechs (Brazilian Association of FinTechs) and Founder of the.
PYMNTS
JUNE 27, 2017
A new survey released by accounting, payroll and payment company Sage finds Canadian SMEs are largely unaware of government initiatives that could help their businesses. Sage released the new report Monday (June 26) at its Sage Summit Toronto 2017 event. According to the analysis, 85 percent of SME respondents say they are optimistic about the future of their own companies, while 74 percent said the same about the future of SMEs across Canada overall.
Payments Source
JUNE 27, 2017
Visa Inc. is buying a stake in Swedish payments technology firm Klarna AB and forming a strategic partnership, as both companies aim to expand outside their core markets.
PYMNTS
JUNE 27, 2017
Amazon is pushing full throttle into the grocery industry, but it’s not without competitors on its heels. Central London is the next place to have its food shopping receive a boost. The U.K. grocery chain Tesco has announced the launch of its one-hour delivery service to the area. In partnership with commerce and delivery startup Quiqup, Tesco will start offering both a one-hour and a two-hour option via its Tesco Now app on both Android and iOS.
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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.
Bobsguide
JUNE 27, 2017
The European Banking Authority (EBA) has recently launched a public consultation on its draft Regulatory Technical Standards (RTS) specifying the nature, severity and duration of an economic downturn, according to which institutions shall estimate the downturn of loss given default (LGD) and credit.
PYMNTS
JUNE 27, 2017
Bitcoin — and the technology that enables it — has certainly had a rather fast trip from obscurity to mainstream awareness. In January 2009, the so-called “Genesis Block” came into existence to the delight of an extremely small but very passionate cadre of cyber currency enthusiasts. In the 8.5 intervening years, bitcoin and the blockchain technology that enables it hasn’t quite gone mainstream.
NCR
JUNE 27, 2017
I’m spending a few days this week at the Money2020 conference in Copenhagen. It’s Europe’s biggest Fintech event and, as such, it’s a great place to learn about the latest goings-on in the sector and what they mean for the industry. The opening keynote sessions focused on the future of banking, asking what services banks will be providing in the future.
PYMNTS
JUNE 27, 2017
In the tech world, launches are happening every day. From product releases to new companies and merger announcements, improvements are constantly being offered to enhance some aspect of consumer and vendor relationships. One common improvement thread among tech launches includes changes to aspects of payments or transactions. Today’s news focuses on PayU ‘s API Integration for cross-border payments, ACI Worldwide ‘s South Africa Alipay launch and GSMA ‘s successful roll o
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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
JUNE 27, 2017
Particularly at risk are service providers with high volumes of automated or customer-initiated debit payments, such as cell phone service providers, utilities, cable companies, insurance, and retailers.
PYMNTS
JUNE 27, 2017
Women’s beauty products have a long and well-established history, but the men’s side of the equation hasn’t always told the same story. Outside of deodorant, beard trimming or shaving and cologne, there haven’t been too many ways for men to take care of themselves. As a result, some men have ventured into their significant others’ beauty bag.
Payments Source
JUNE 27, 2017
Verifone is focusing more on operating an open platform in which third-party developers and financial partners could build within Verifone point of sale network parameters.
PYMNTS
JUNE 27, 2017
To help bring more customers into the chicken wing-loving fold, Buffalo Wild Wings has announced the U.S. rollout of its Blazin’ Rewards loyalty program. Any customer visiting one of the restaurant’s locations can now earn points for checking in and for every purchase totaling $10 or more. Since its pilot in markets around the country, Buffalo Wild Wings has registered over two million Blazin’ Rewards members.
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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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