Mon.Oct 09, 2017

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Five FinTech Themes from 2017

Chris Skinner

Following on from talking around the big ten tech themes last Friday, I thought I would follow up with five FinTech themes for right now. This came out of a keynote speech I gave at Celero’s 9th annual technology conference in Canada last week. It was fun with the CEO, Bob … The post Five FinTech Themes from 2017 appeared first on Chris Skinner's blog.

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bitFlyer Launches Bitcoin Visa Prepaid Card

Bank Innovation

Japan’s largest bitcoin exchange, bitFlyer, announced on Friday that it has launched a yen-dominated bitcoin Visa prepaid card, bringing Japanese consumers one step closer to being able to use bitcoin for their daily purchases. Users will be able to load their card with bitcoin via their bitFlyer accounts, and then use the card to purchase […].

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O, Canada’s Open Banking Collaboration

PYMNTS

When sea change comes to payments, some ride the waves, others get queasy – and still others reach for life preservers. Open banking looms in many corners of the world, mandated in some areas (think PSD2) while driven by market forces in others (here in the United States). Last week, the Canadian Bankers Association said in a release that the government should evaluate open banking a bit more carefully before fully committing to the concept.

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BBVA Mobile Customers Pass 15M

Bank Innovation

Spanish bank BBVA now has over 15 million mobile active users, a growth rate of over 40% within the past year as the bank adds more services to mobile. This MAU growth comes as more and more consumers have begun adopting mobile banking as the norm. Aside from the addition of new customers in this […].

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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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The atomization of payments: Part two

Accenture

In part one of my blog on atomizing payments, I explained how payments volumes are likely to expand 25 times or more in the future, resulting in trillions of new payments. In part two, I explain a precedent for this atomization and its implications, and how the payments industry needs to prepare. Precedent and Implications. Atomization of communication is a precedent.

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More Trending

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How FIs Can Train Human And AI Employees To Work Together

PYMNTS

Whether in banking, security, or retail, there is a clear trend regarding artificial intelligence (AI) and machine learning: they’re on the rise, and their proponents are fiercely in favor. Indeed, there is a lot of good that can come out of AI. In the area of fraud detection, for instance, it is much faster and more thorough than humans when weeding out fraud attempts from millions, even billions, of daily transactions that live employees would never have time to sort by hand, handing over only

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EU Conducts Antitrust Probe of Polish, Dutch Banks

Bank Innovation

The European Commission concluded two unannounced “raids” against banks in Holland and Poland to make sure the institutions were not restricting consumer data access to third-party providers such as fintechs. The inspections were conducted to make sure the FIs were in compliance with EU antitrust rules, which now prohibit banks under that jurisdiction from banning […].

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Richard Thaler Gets The ‘Nudge’ For Nobel Prize In Economics

PYMNTS

The Nobel Prize in Economics was awarded on Monday to economist Richard Thaler, whose research has centered on how markets are shaped by human nature and behaviors. In awarding the prize, the Royal Swedish Academy of Sciences said Thaler, a University of Chicago Booth School of Business professor, has worked across the economic and psychological spheres and has “given us new insight into how human psychology shapes decision-making,” The Wall Street Journal reported.

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Virtual Cards: The B2B Payment Method of the Future

Let's Talk Payments

When it comes to payments in the B2B world, customers are looking for more convenient ways to pay their bills. With the latest technological advancements, their options are expanding. As.

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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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Costco Sees Shares Fall, Announces Two-Day Delivery

PYMNTS

Bulk goods retailer Costco saw its shares fall 6 percent on Friday (Oct. 6) following the company’s reported decline in quarterly gross margins , according to a Reuters news article. Costco cited competition from new grocery delivery services as the catalyst for the revenue dip. The company’s Thursday (Oct. 5) announcement revealed Costco had “scraped past estimates,” according to Reuters, though its post-results call also shared news of its rollout of two-day grocery delivery services, which ma

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What is GDPR?: The implications you need to know

Bobsguide

The facts. What? General Data Protection Regulation (GDPR). When? 25th May, 2018 (Adopted by European Parliament in April, 2016). By? EU’s Article 29 Working Party (and replaced under GDPR by the European Data Protection Board (EDPB)). Applies to whom? Controllers and processors of.

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RIP Windows Phone

PYMNTS

Goodbye Windows phone. According to a recent article posted by TechCrunch, the head of the Microsoft Windows division has confirmed reports that the Windows Phone project is shutting down. The process has been long and painful, and Microsoft has announced it will no longer roll out new versions of the Windows Phone. TechCrunch reported the company will continue to update the phones that have already been released — including security enhancements and bug fixes, among other elements — but nothing

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The Advantages of Decentralization (Video)

Let's Talk Payments

Most of us are well aware of the concept of decentralized systems. However, amidst the hype over applications, we may not dive into the contextuality of those applications.

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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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Today In Data: The Evolution Of Commerce Intermediaries

PYMNTS

Though commerce intermediaries have been around for centuries and date back to the Ottoman Empire — the first Grand Bazaar was held in Istanbul, Turkey, in 1460 — the overall concept of such a marketplace has not changed much in 557 years. Merchant guilds organized trade in the Grand Bazaar, licensed the rules of engagement for merchants, limited what type and how many of each seller would be able to participate and standardized both pricing and operating hours.

Data 101
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Banking on Blockchain for Increased Trust

Insights on Business

In my 20 years as a banker and working with bankers, I’ve lived by the maxim that trust is like an eraser. It gets smaller with every error. That’s why I read with interest the 2016 Edelman Trust Barometer, in which the financial services industry scored only 51 percent, the lowest of eight industries in the survey. There may be any number of factors that affect trust, including residue of the global financial crisis, poor customer experiences, rising fees, or a bevy of other possibilities.

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Analyst Warned Of Equifax’s Lax Cybersecurity Last Year

PYMNTS

Financial company MSCI had warned Equifax a year before its massive data breach that there were signs it wasn’t protecting the data of its millions of customers. According to a news report in The Wall Street Journal , MSCI reported in August of last year that Equifax wasn’t equipped for the “increasing frequency and sophistication of data breaches.” After poring over the Equifax records, the company said it found zero evidence that the credit scoring company conducted regular cybersecurity audit

Data 101
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Hyper-connected corporate banking and the drive to digitise

Bobsguide

There is a widening gap between the winners and losers in corporate banking. Three principles guide the highest performers: a focus on connecting platforms and ecosystems, the desire to embrace innovation and an obsession with the customer. To increase the corporate wallet share, digital corporate.

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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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Apple Investigates Swelling iPhone 8 Batteries

PYMNTS

Apple is looking into a small number of reports that the iPhone 8 Plus case cracked open due to an expanding battery, with as many as six separate incidents being reported. According to a news report in CNET , the six reports spanned five countries. Meanwhile, late last week, ThePaper.cn , a Chinese state-backed website, reported a consumer in China received a new iPhone 8 Plus with the side cracked open.

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Retailers that don't innovate to erase checkout lines may disappear

Payments Source

It’s not a question of "if" mobile contactless and camera-based payments will become the norm – it’s a matter of "when," writes Julian Wallis, East Kilbride, U.K.-based sales director in the payments group at Rambus.

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Despite Natural Disasters And Late Payments, SMBs Remain Encouraged

PYMNTS

A hurricane-sized hiccup in U.S. small business hiring, a generational gap in SMB optimism and a slew of stubborn U.K. small firms: These are a few of the takeaways from this week’s B2B Data Digest, which examines the state of small businesses both in the U.S. and in the U.K. Overall, the numbers are pretty encouraging, with small business owners reporting positive outlooks despite some serious challenges, from natural disasters to a culture of late supplier payments.

Payments 101
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A heightened demand for payments leads Appetize to target health care

Payments Source

In an enclosed campus like a college or hospital, people are eager to simply pay for their food and get back to their business. But streamlining the payment process isn't always easy.

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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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Can Subscription Commerce Revive Floundering Movie Theaters?

PYMNTS

In the 1970s, a date night at the movies was a relatively cheap affair. For just an easy $4 and some loose change, moviegoers could have two tickets and practically eat their weight in popcorn. Okay, perhaps a slight exaggeration there. But, fast forward to 2017, and the good old-fashioned movie date is now unequivocally anything but cheap, with couples easily spending more than $30 on tickets, butter held.

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The must have 2015 CFI Code for MiFID II

Bobsguide

Not just here and now, but now and then. Reg data transformation and history. Here and now… EMIR reporting for listed derivatives required the use of the ISO standard Classification of Financial Instruments or CFI code and following its 2015 update under ISO 10962, its use is further.

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NAB Cuts The Jargon From Small Biz Loan Contracts

PYMNTS

As Australia’s financial services industry faces continued pressure from the Australian Small Business and Family Enterprise Ombudsman to improve small business lending practices, National Australia Bank (NAB) said it is overhauling its existing SME and SMB loan contracts. The bank announced on Friday (Oct. 6) that 130,000 small business owners will be affected by the initiative, which aims to shorten and simply contracts, writing them in “plain English.

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FinTech Week in Review: A Case of the Mondays

Let's Talk Payments

The FinTech Week in Review just got a case of the Mondays – but in a good way! We were cheating you, our dear readers, of one whole day of.

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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.