Chris Skinner
FEBRUARY 21, 2019
Another interesting nuance of the FinTech Bank is the integration of business and technology. I’ve referenced this a few times, but wanted to be explicit that these banks think technology is business and business is technology. This is clearly demonstrated in their microservices team structures and agile thinking. Auditors, compliance, … The post Technology is business appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 21, 2019
Keeping your money in a bank is common sense at this point, but online banking is – unfortunately – not something many people have grown accustomed to, yet. There are many benefits to explore in this area, and it’s not a bad idea to check out what some online banking services can do for you […].
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Payments Dive
FEBRUARY 21, 2019
In Part II of a blog series, Steve Villegas addresses how payments fraud impacts cross-border ecommerce.
Chris Skinner
FEBRUARY 21, 2019
Things we’re reading today include … HSBC banking head to quit months after scathing memo Cryptocurrency companies use ‘backdoor’ listings to ease into mainstream Labor will allow bank victims to reopen cases and lift claims cap to $2m Barclays pledges to return more money to shareholders Bankrupt businessman set fire … The post Things worth reading: 22nd February 2019 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
FEBRUARY 21, 2019
Green Dot, a Pasadena-Calif.-based financial services company with a banking license, is making no secret of its success and broader ambitions with banking-as-a-service. CEO Steve Streit mapped out a six-step plan for growth in 2019, in which the BaaS platform loomed large, during the company's 4Q18 earnings call on Wednesday. The company plans to design, develop and […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
FEBRUARY 21, 2019
Core processor Jack Henry & Associates might have signed a deal with Zelle's parent company Early Warning in 2016, but it won't be deploying the P2P service until 2020, at earliest, Bank Innovation has learned. In fact, the core processor only started beta testing Zelle for Symitar this year. Jack Henry has begun certification testing […].
PYMNTS
FEBRUARY 21, 2019
The U.K. government’s mandate that the Royal Bank of Scotland (RBS) allocate about $1 billion for a fund intended to give a financial boost to industry competitors has hit roadblocks that could spark controversy as the first of the funds are issued. Reports in the Financial Times on Wednesday (Feb. 20) said that Banking Competition Remedies, which was established to manage the RBS fund, is preparing to announce the first three winners of the money.
Chris Skinner
FEBRUARY 21, 2019
Things we’re reading today include … HSBC banking head to quit months after scathing memo Cryptocurrency companies use ‘backdoor’ listings to ease into mainstream Labor will allow bank victims to reopen cases and lift claims cap to $2m Barclays pledges to return more money to shareholders Bankrupt businessman set fire … The post Things worth reading: 22nd February 2019 appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 21, 2019
Every industry has its nomenclature. And sometimes, terms get thrown about interchangeably — when, really, they refer to very different things. Such is the case in financial services, where “ FinTech ” is often used to describe financial technology vendors. “A firm that offers financial technology is not necessarily a FinTech,” said Provenir Managing Director Paul Thomas, who thinks the distinction between the two needs to be clearer.
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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
Chris Skinner
FEBRUARY 21, 2019
Another interesting nuance of the FinTech Bank is the integration of business and technology. I’ve referenced this a few times, but wanted to be explicit that these banks think technology is business and business is technology. This is clearly demonstrated in their microservices team structures and agile thinking. Auditors, compliance, … The post Technology is business appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 21, 2019
Financial technology firm Green Dot , which made its name on its prepaid debit card solutions, is ramping up its focus on Banking-as-a-Service (BaaS) after posting $14.3 million in net income for the fourth quarter of 2018. Green Dot revealed a 17 percent year-over-year revenue increase for Q4, according to the firm’s earnings data released on Wednesday (Feb. 20).
Bank Innovation
FEBRUARY 21, 2019
It would be “odd” for Apple Inc. to offer a jointly developed credit card with Goldman Sachs Group Inc. and not with Synchrony Financial, MoffettNathanson analyst Lisa Ellis said, since Synchrony dominates the market for co-brand offerings. “Goldman must be offering Apple a very good deal,” Ellis said by email. She added that the Goldman […].
PYMNTS
FEBRUARY 21, 2019
By 2020, there will be an estimated 26 billion Intelligence of Things (IoT)-connected devices active around the world. As the IoT market grows, however, developers and consumers alike are growing more vigilant to protect any potential weaknesses of devices that rely on constant connectivity. While consumers are connecting with more IoT devices than ever, from the wearable IoT fitness band to the connected smart oven to the voice-activated smart speaker, this oversaturation is also creating more
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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.
Ron Shevelin
FEBRUARY 21, 2019
Delinquent car loans hit record highs. Seven million people are now 90+ days delinquent on their auto loan. It's not the problem some are making it out to be.
PYMNTS
FEBRUARY 21, 2019
Ever since Amazon turned its gaze to healthcare, questions about the eCommerce operator’s plans and intentions have outnumbered answers. That’s still true, and may remain so for the time being, but this week new details emerged that, at the least, is shedding light on Amazon’s healthcare vision. Okay, enough teasing. Here’s the scoop, courtesy of court testimony: Amazon wants to, in the words of The Wall Street Journal , “redesign health insurance.
Payments Source
FEBRUARY 21, 2019
By using the dark web as a cybersecurity tool, instead of an ungovernable threat, financial institutions can intercede and interdict compromised card data post-breach, pre-fraud, writes Ted Kirk, vice president of strategic partnerships for Advanced Fraud Solutions.
PYMNTS
FEBRUARY 21, 2019
Apple and Goldman Sachs, through joint efforts, will issue a credit card that links with the iPhone, the Wall Street Journal reported on Thursday (Feb. 21). The new card is aimed at helping consumers with money management, and bringing the companies into new areas of business. As reported, the card will be first tested by employees through the next few weeks.
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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.
Payments Source
FEBRUARY 21, 2019
Immigration restrictions are a threat to London’s status as a fintech hub, enough for Revolut CEO Nikolay Storonsky to demand the U.K.’s government take special steps to prevent the technology talent from going elsewhere.
PYMNTS
FEBRUARY 21, 2019
With a move toward cashless societies growing around the world, new legislation in the U.S. could force retailers and restaurants in a number of states to accept cash as a payment method. According to a report in The New York Times citing legislation being worked on around the country, the New Jersey Legislature and Philadelphia City Council have backed laws that would ban cashless stores.
Payments Source
FEBRUARY 21, 2019
Modern, global merchants need comprehensive, integrated frameworks that reduce costs, manage risk and exposure, provide direct connectivity and redundancy to optimize reliability and keep control over the customer experience closer to the merchant, according to Eric Rosenthal, managing director of the Americas at Rapyd.
PYMNTS
FEBRUARY 21, 2019
SalesTrip , a new corporate travel expense management firm, is launching its product this week in the U.K. The company has integrated a travel booking and spend management solution that it says is the first to operate on Salesforce , reports in Realwire said on Wednesday (Feb. 20). Designed for corporate users of Salesforce, the tool targets enhanced spend visibility and analytics. “With the business travel market set to reach $1.7 trillion by 2023, we want company leaders to have greater
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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.
Bobsguide
FEBRUARY 21, 2019
With the long-delayed implementation of the European Union’s Securities Financing Transaction Regulation (SFTR) finally looming on the horizon, those in the securities and repo markets must prepare now. Firms have had plenty of time to prepare for SFTR: the European Commission published its.
PYMNTS
FEBRUARY 21, 2019
The small business (SMB) banking sector continues to endure seismic disruption from many angles. In the U.K., regulators are cracking down on big bank misconduct against small firms, while simultaneously exploring ways to inject competition into the sector via initiatives like the RBS fund. At the same time, small businesses are caught in the crosshairs of wanting digital services while continuing to value in-person interactions at the bank branch.
Payments Source
FEBRUARY 21, 2019
Banks and Apple Pay have not always had easy partnerships, but a hot market for co-branded cards gives Goldman Sachs a chance to advance its consumer ambitions and Apple an opportunity to offset slumps in device sales.
PYMNTS
FEBRUARY 21, 2019
The U.K.’s Housing, Communities and Local Government Committee is calling on internet retailers to pay higher taxes to help struggling offline retailers in the country’s shopping districts. According to a report in Bloomberg, the U.K. government agency called out Amazon , Asos and Boohoo Group , arguing they should pay more taxes since traditional retailers are losing business to them.
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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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