Bank Innovation
JANUARY 2, 2020
As banks and startups on both coasts compete for new graduates, Fishers, Ind.-based First Internet Bank is using an internship program to keep talent in the Midwest. The program, which lasts a few months, sources talent from local universities. Participants are expected to take a hands-on approach and effect change at the institution. “When […].
Payments Dive
JANUARY 2, 2020
The top 10 most-read articles of 2019 addressed a range of issues, including the wave of merger activity in U.S. payments, the rise of digital banking, the transition to PSD2 in Europe and the growing crisis in cash access.
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Bank Innovation
JANUARY 2, 2020
Billionaire Jack Ma’s Ant Financial has applied for a digital banking license in Singapore, as China’s largest online financial platform steps up efforts to expand outside the mainland. Ant submitted an application to the Monetary Authority of Singapore for a wholesale license, which would allow it to serve corporate clients, the company said. “We look […].
Payments Dive
JANUARY 2, 2020
It’s clear that consumers want more payment choices. And this extends to paying at the fuel pump. But while merchants, including gas station owners, are keen to give their customers new ways to pay, there are a number of challenges they need to overcome.
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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
JANUARY 2, 2020
While large banks may not feel threatened by personal finance apps or digital-only challengers, they can learn from them on the digital onboarding front, a recent Gartner study observed. Gartner’s Digital IQ Index for 2019 surveyed 80 banking and financial brands, including national banks, regional banks, online banks and fintech startups. It examined 1,200 data […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 2, 2020
U.K.-based payments startup Curve launched a cross-border in-app money transfer feature, with hopes of making a dent in the lucrative remittance market. The cross-border payments sphere, currently dominated by Western Union, is a field in which startups like TransferWise and WorldRemit are making inroads. Now, London-based Curve wants to attract more digital-native customers with an […].
PYMNTS
JANUARY 2, 2020
It’s going to be a very vocal year when it comes to retail. Voice is the killer app of the connected commerce experience, according to the How We Will Pay: 2019 Edition study. For the third consecutive year, the use of voice-enabled devices and assistants to enable purchasing has increased faster than any other type of connected commerce. About 31 percent of consumers now own voice-activated devices, up from 27 percent in 2018 and 14 percent in 2017.
Bank Innovation
JANUARY 2, 2020
For Betterment, the upcoming year will see the continuation of its trajectory from an investment platform to a place where customers can carry out all of their financial activities in one place. Dan Egan, managing director of behavioral finance and investing at Betterment, told Bank Innovation the company plans to broaden its reach this year, […].
PYMNTS
JANUARY 2, 2020
As diners can order a wide range of cuisines from their smartphones, mobile order-ahead continues to become more popular — and quick-service restaurants (QSRs) are taking note. The technology is changing the design of restaurants, as some coffee chains are rolling out pick-up only locations while others are refreshing stores with pickup windows. Large chains like Dunkin’ and Starbucks were among the first to embrace mobile order-ahead technology.
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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
Bank Innovation
JANUARY 2, 2020
Wall Street’s focus on Silicon Valley has helped lift shares of Citigroup Inc., Bank of America Corp. and JPMorgan Chase & Co. to new highs and is likely to keep fueling gains for the biggest bank stocks, according to analyst Mike Mayo. “I’m living in my hoodie” as long as tech keeps boosting banks’ revenue […].
PYMNTS
JANUARY 2, 2020
The Financial Accounting Standards Board (FASB), which establishes accounting standards in the U.S., has released new guidance on computing costs for cloud computing to take effect for public businesses in 2020. It also provides a new standard for companies that struggle with the implementation of the technology, according to a report by Compliance Week.
Payments Source
JANUARY 2, 2020
The winner of this next phase of development won't be an app. Instead, it will be almost invisibly woven into the DNA of the internet of things.
PYMNTS
JANUARY 2, 2020
The downside of data sharing has come full circle as JPMorgan Chase strives for enhanced protection by blocking FinTech apps from accessing customers’ passwords, The Financial Times (FT) reported on Tuesday (Jan. 2). As a way to get users’ passwords “out of the system,” the lender will disburse tokens to third parties, embedded with limited data, Bill Wallace, Chase’s head of digital, told FT. .
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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.
ABA Community Banking
JANUARY 2, 2020
Whether it’s buying a mortgage division in 2009 or building a diversified product set in an age of nichification, community bank CEO Luanne Cundiff zigs when pundits say to zag. The post The Community Bank Contrarian appeared first on ABA Banking Journal.
PYMNTS
JANUARY 2, 2020
It wasn’t very long ago that nearly every banking-connected function required a trip to the local branch. Even the simplest tasks like changing the PIN on a debit card required a command appearance. Today, CO-OP Financial Services Chief Technology Officer Pam Brodsack said, a customer can do that — and a whole lot more — from within the confines of their mobile app from just about any place on earth due to the power of application programming interfaces (APIs). .
ATM Marketplace
JANUARY 2, 2020
The growing phenomenon of direct, digital banking and Silicon Valley's entry into the payments business pose a series of challenges to traditional banks. NCR's Doug Brown explores the landscape for 2020 to determine how these trends will impact the global banking business moving forward.
PYMNTS
JANUARY 2, 2020
Samsung has introduced a new refrigerator that’s the latest addition to its Family Hub lineup, with artificial intelligence (AI) and features that can plan meals and connect with Samsung devices around the home, according to a report by VentureBeat. The cameras inside are powered by the company’s AI ViewInside technology which scans items, identifies them and sends updates when new or old items are out. .
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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
JANUARY 2, 2020
In its proposal to obtain one of the full digital banking licenses Singapore will award later this year, online gaming company Razer has laid out the gaps between what traditional banks offer and young adults need.
PYMNTS
JANUARY 2, 2020
The former head of technology at Barclays, Mark Hipperson, is launching a digital bank called Ziglu that will serve both crypto and fiat accounts, according to a report by Cointelegraph. In addition to working at Barclays, Hipperson was the former CTO at Starling, a U.K. challenger bank. The accounts at Ziglu will be free and able to have multiple currencies, and people will be able to easily exchange them.
Banking Exchange
JANUARY 2, 2020
Both sides have been taking a fresh look at partnering to build on their strengths and hunt together Technology Feature3 Fintech Feature Financial Trends Retail Banking Customers Branch Technology/ATMs People Performance Mobile Online Cards Community Banking.
PYMNTS
JANUARY 2, 2020
Chinese smartphone firm Xiaomi is planning to pump over ¥50 billion ($7.18 billion) into artificial intelligence (AI) and 5G technologies over the next five years, Reuters reported on Thursday (Jan. 2). The announcement was made by Xiaomi Chief Executive Lei Jun, who posted a letter on the company’s social media account. “We need to turn our continuous advantage we have in AIoT [artificial intelligence of things] and intelligent life into absolute victory in intelligent full scene, and completel
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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
JANUARY 2, 2020
One of the biggest untapped areas of payment innovation is in consumer bill payment, which makes up 30% of U.S. consumer spending, with banks currently playing a shrinking role in the $4 trillion segment.
PYMNTS
JANUARY 2, 2020
To boost the bottom line and get consumers interested, actively engaged and ready to spend, retailers have increasingly been turning to advanced technologies such as artificial intelligence (AI) and machine learning to fine-tune businesses — in real time. That’s especially true with unattended retail, where consumers have become more comfortable with self-service.
Payments Source
JANUARY 2, 2020
Billionaire Jack Ma’s Ant Financial has applied for a digital banking license in Singapore, as China’s largest online financial platform steps up efforts to expand outside the mainland.
PYMNTS
JANUARY 2, 2020
Approximately 50.8 million students are enrolled in K-12 public schools nationwide, according to the latest figures from the Department of Education, and as these students pursue their educations, some schools are learning new lessons on how to more effectively manage funds through faster payment solutions. Students often receive their educations in places beyond the classroom, such as on trips to museums, historical locations and concerts.
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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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