Sun.Apr 21, 2019

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Afghanistan Turns To Bitcoin To Boost Economy

PYMNTS

Afghanistan is looking to boost its ailing economy with bitcoin. At the annual Spring Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund in Washington, Khalil Sediq, governor at the Central Bank of Afghanistan, told The Asia Times that Afghanistan might issue a sovereign crypto bond that uses blockchain technology.

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In faster payments, technology sprints ahead of demand

Payments Source

The reasons for banks to not embrace faster payments schemes are quickly dwindling. But many are still watching from the sidelines.

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JPMorgan To Expand Blockchain Use For Payments

PYMNTS

JPMorgan Chase is planning to expand its use of blockchain technology to improve the banking industry’s payment system, as well as get FinTechs to experiment on developing the platform. The platform allows banks to quickly resolve compliance issues that can delay payments by weeks. Last year, more than 75 of the world’s biggest banks became members of the Interbank Information Network ( IIN ) to fight off threats from payment startups.

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The government's set a steep learning curve for crypto compliance

Payments Source

The SEC and other regulators are taking a closer look at ICOs and mergers involving cryptocurrencies and distributed ledgers, which requires careful diligence for payment companies and dealmakers, according to Will Turner, a partner in the blockchain and cryptocurrency practice at Steptoe & Johnson.

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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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PayPal Eyes Credit To Monetize Venmo

PYMNTS

Venmo, the digital payments company, is reportedly considering launching credit cards as a way to profit from its large customer base. According to a report in The Wall Street Journal citing people familiar with the matter, executives at the company have been having talks with banks since the end of 2018 about issuing a Venmo-branded credit card. Venmo, which is owned by PayPal, is reportedly settling on Synchrony Financial to issue the Venmo credit card.

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Uber Lands $1B To Fund Advanced Technologies Unit

PYMNTS

Uber announced late last week that it landed a $1 billion investment from Toyota, DENSO and the SoftBank Vision Fund. On Twitter , Uber Chief Executive Dara Khosrowshahi announced the investment, saying the companies are jointly working toward “the future of mobility.” In a press relase , the companies said they are investing $1 billion in Uber Technologies’ Advanced Technologies Group or Uber ATG.

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Becoming a ‘Digital Bank’ Requires More Than Technology

The Financial Brand

The biggest challenge in the quest to become a digital banking organization is not technology or strategy, it is culture. The post Becoming a ‘Digital Bank’ Requires More Than Technology appeared first on The Financial Brand.

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Zillow Sues Competitor Compass Over IP Theft

PYMNTS

Zillow has filed two lawsuits against Compass , accusing its rival of stealing Seattle-based Zillow’s intellectual property, as well as hiring employees who violated their non-compete agreements. The suits, filed in Washington state court and federal court, state that three Zillow employees — Robert Chen, former head of machine learning; Michael Hania, a former enterprise sales executive; and Chester Millisock Jr., a former software engineer — were hired by Compass, despite the fact that they h

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Digital Banking Transformation Requires Cultural Reboot

The Financial Brand

The biggest challenge in the quest to become a digital banking organization is not technology or strategy, it is culture. The post Digital Banking Transformation Requires Cultural Reboot appeared first on The Financial Brand.

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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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Square Capital Expands SMB Loan Access To Third Parties

PYMNTS

Invoice2go and Square Capital announced late last week they inked a partnership in which Invoice2go customers can access funding from within the Invoice2go app. In a press release, the companies said the partnership marks the first time Square Capital, the small business loan program developed by Square, has inked a partnership in which customers get embedded access to business loans via a mobile app.

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Google’s AI Fact-Checker Will Scrutinize Banking Sites for Supportive Data

The Financial Brand

The "fake news" epidemic has driven Google to roll out an automated fact-checker to ensure website information is reliable and credible. The post Google’s AI Fact-Checker Will Scrutinize Banking Sites for Supportive Data appeared first on The Financial Brand.

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Prosper Fined $3M By SEC For Overstating Returns

PYMNTS

The Securities and Exchange Commission announced late last week that Prosper , the online lender, has agreed to pay a $3 million fine for misleading retail and other investors via statements it made. In a press release the SEC said it charged Prosper with “miscalculating and materially overstating annualized net returns to retail and other investors.

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Apple FCU Spoofs Big Banks in Funny ‘PC vs. Mac’ Homage Videos

The Financial Brand

Apple Federal Credit Union's tribute to the famous Macintosh ad campaign hits larger rivals with funny jabs. The post Apple FCU Spoofs Big Banks in Funny ‘PC vs. Mac’ Homage Videos appeared first on The Financial Brand.

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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.