Chris Skinner
OCTOBER 31, 2018
Artificial Intelligence (AI) is moving at a pace, creating a really interesting online debate the other day about its applications. Specifically, the question was raised about self-driving cars and how they make decisions. For example, when a self-driving car crashes, who should die? This is a question explored in depth … The post AI is only as good as the people who program it appeared first on Chris Skinner's blog.
Bank Innovation
OCTOBER 31, 2018
There have never been more opportunities – or more challenges – in digital marketing, especially for financial services. With a plethora of channels and corresponding metrics, how do marketers decide which ones to prioritize? And in a digital landscape that’s constantly changing, how can marketers efficiently drive bottom-line impact?
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PYMNTS
OCTOBER 31, 2018
Commercial fleet payments solution provider Fleetcor once again beat Wall Street expectations when it reported its 2018 third quarter earnings data Tuesday (Oct. 30) evening, coinciding with the announcement of a new contactless payment partnership with McDonald’s in Brazil. Total revenues were up 7 percent year over year to $619.6 million, which included a $28 million impact from the adoption of the new revenue recognition standards, ASC 606.
Bank Innovation
OCTOBER 31, 2018
Digital gifting can be drab and cold, arriving without commentary, not even a "Here's 50 bucks, enjoy it." Niche startups such as Ballooning Nest Eggs are taking this on, but the day-to-day, peer-to-peer platforms are still offering bare-bones payment experiences, though PayPal-owned Venmo will give you emojis. But Zelle, the digital payment service operated by the […].
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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
OCTOBER 31, 2018
HSBC, Standard Chartered and 10 other banks launched a new blockchain -based trade finance program in Hong Kong on Wednesday (Oct. 31) aimed at increasing the efficiency of international trade. According to a report in Reuters citing HSBC, the platform, dubbed eTrade Connect, enables it to reduce the time it takes to approve a trade loan to four hours.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 31, 2018
WEX released its third-quarter 2018 earnings data on Wednesday morning (Oct. 31), beating analyst expectations in posting $382.7 million total revenues, an 18 percent year-over-year increase, with earnings at $2.19 per share. Fleet payments, WEX’s flagship focus, grew with a 7 percent increase in total fuel transactions processed during the quarter compared to Q3 2017, with a 22 percent increase in fuel prices accelerating value for the company.
Bobsguide
OCTOBER 31, 2018
Insurtech entered common vernacular in the market towards the end of 2015, but it’s been slow to take off compared to disruption in other areas. A report last year by the European Insurance and Occupational Authority (EIOPA) said that digitisation had not yet reached the point of truly.
PYMNTS
OCTOBER 31, 2018
Augmented reality (AR) has long been associated with games like Pokémon Go and Zombies, Run! However, AR is now rewriting the rules of the retail game. A growing number of retailers are leveraging the technology to entice customers with a “try before you buy” shopping experience, having already been adopted by several big names in retail, including the likes of Walmart and Target.
Bobsguide
OCTOBER 31, 2018
There is no doubt that the Asia Pacific (Apac) region now dominates the global banking landscape, with 43% of total global bank profits generated in the geography. It’s also a highly competitive segment of the corporate banking sector, with the largest corporate clients in APAC often working.
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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
OCTOBER 31, 2018
Monzo , the U.K. mobile-only bank, now has a valuation of $1.3 billion, pushing the startup into unicorn status. Reuters , citing Monzo, reported the mobile bank said Wednesday (October 31) that it raised 85 million pounds — and as a result, has a valuation of more than $1 billion. Proceeds from the round of fundraising is going to double its headcount, noted Reuters.
Gonzobanker
OCTOBER 31, 2018
Conversations about customer channel migration, branch sales and growth are gaining momentum. But while customers are evolving and adopting less traditional ways of banking, many branches are stuck in a time warp and continue to operate as order takers versus consultative advisors. For years, banks have focused on deposits for driving low cost funds to support commercial lending, but in today’s banking landscape, deposits are making a resurgence as the priority.
PYMNTS
OCTOBER 31, 2018
Ford Motor Company and Baidu, the Chinese technology company, announced Wednesday (Oct. 31) the start of a two-year joint self-driving vehicle test project, under which the two will further advance the development and on-road testing of self-driving cars in China. In a press release , the companies said the collaboration is part of Ford’s plan to promote and further advance autonomous vehicle technologies.
Payments Source
OCTOBER 31, 2018
While volatility is back in global financial markets, only about one in four Bitcoins that weren’t freshly mined moved between the anonymous online addresses holding them in the last six months.
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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
OCTOBER 31, 2018
Yum! Brands beat Wall Street’s expectations when its earnings were released Wednesday, as an assortment of new menu offerings were successful in drawing more foot traffic into its Taco Bell and KFC locations this quarter. According to reports, pickle-fried chicken and nacho fries were big draws. Pizza Hut , on the other hand, didn’t look quite so strong.
Independent Banker
OCTOBER 31, 2018
“Innovation will be the key to sustaining and growing our businesses.”. Here at ICBA, we’re in full innovation mode, so it’s only appropriate that this issue be dedicated to technology. This year, you’ve probably heard me say that ICBA is focused on three pillars: community bank advocacy, education and innovation. In particular, innovation will be the key to sustaining and growing our businesses.
PYMNTS
OCTOBER 31, 2018
Cloud Elements , a platform offering application program interface (API) integration solutions, secured an investment from the venture capital (VC) arm of American Express (Amex), the company said in a press release issued Tuesday (Oct. 30). American Express Ventures made a strategic investment in the company alongside existing backers: Harbert Growth Partners, Rally Ventures, Access Ventures and Grotech Ventures.
CFPB Monitor
OCTOBER 31, 2018
The CFPB recently issued a revised version of the Home Mortgage Disclosure (Regulation C) Small Entity Compliance Guide to reflect a partial exemption to Home Mortgage Disclosure Act (HMDA) requirements made by the Economic Growth, Regulatory Relief, and Consumer Protection Act and a related interpretive procedural rule issued by the CFPB. Pursuant to the partial exemption, depository institutions and credit unions are exempted from the new HMDA reporting categories added by Dodd-Frank and the H
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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
OCTOBER 31, 2018
It was more than a month ago that eBay started managing payments on its U.S. marketplace platform, and on Tuesday (Oct. 30), the first results of that effort were in. The eCommerce operator, which released its third quarter 2018 results , said it has intermediated $38 million of gross merchandise value (GMV) so far. The amount of those intermediated payments barely represent a trickle of eBay’s $22.7 billion of GMV during Q3, roughly 0.17 percent of GMV.
CFPB Monitor
OCTOBER 31, 2018
As part of an investigation launched earlier this year into allegations of redlining in the Philadelphia area, the Pennsylvania Attorney General Josh Shapiro recently called on mortgage borrowers and home loan applicants in the Philadelphia area to file complaints with his office “if they believe they may have been victims of redlining or experienced irregularities when looking for a mortgage or home loan.”.
PYMNTS
OCTOBER 31, 2018
Brex, the corporate card for startups company, announced earlier this week that it has overhauled its credit card rewards system to give more awards to its startup customers. In a press release , Brex said it rebuilt the credit card rewards system to include points earned and points back for services and products that startup companies use regularly to fuel growth.
Payments Source
OCTOBER 31, 2018
FleetCor’s Brazilian electronic toll unit, operating under the brand name Sem Parar, is partnering with McDonald's to its enable its customers to make contactless purchases at the drive thru window.
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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
OCTOBER 31, 2018
Samsung Electronics smartphone sales will increase in the holiday shopping season, with the general trend lasting into 2019, the company said when announcing its Q3 results. But competition and marketing expenses will cut into profits, and mobile revenue declined about 12 percent year over year. That news comes as Samsung better positions itself for the coming of 5G mobile technology — in mid-October, Samsung said it had bought Zhilabs to further enhance its 5G capabilities.
Payments Source
OCTOBER 31, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Visa and Mastercard comply with India's data regs; FCA plans cryptocurrency crackdown; :Adyen expands in Canada; Google Pay adds more markets.
PYMNTS
OCTOBER 31, 2018
Foreign exchange (FX) brokerage solutions provider Leverate is rolling out a cryptocurrency solution aimed at promoting crypto adoption among brokers and businesses. Reports in Finance Magnates on Tuesday (Oct. 30) said Leverate announced the launch of Terrexa Pay, providing a cryptocurrency payments gateway platform that enables users to streamline their transactions made with bitcoin and other cryptocurrencies.
Payments Source
OCTOBER 31, 2018
Everyday we’re opening the door to new services, devices and institutions, trading off a little bit of “us” for greater convenience, writes Lina Andolf-Orup, a global product marketing manager at Fingerprints.
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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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