Bank Innovation
FEBRUARY 5, 2020
While the hype around chatbots and digital assistants may have reached a crescendo years ago, banks and the technology companies serving them are now investing in the “brains” behind digital conversational assistants, which can be applied across many use cases, including chat and voice. New York-based Kasisto, a conversational AI company which developed the banking […].
Payments Dive
FEBRUARY 5, 2020
Matt Tyler, director of IoT, Wachter, discusses how the network technology integrator identifies the turnkey solution that works to address the challenges retailers face in attracting new customers.
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Bank Innovation
FEBRUARY 5, 2020
Majority, a digital banking platform aimed at immigrant communities, launched to U.S. consumers this week after a four-month beta test. To expand its reach, Majority is relying on two drivers: physical meetup spaces and brand ambassadors, since it has no branches. “If you want to build a successful business focusing on these communities, you […].
Chris Skinner
FEBRUARY 5, 2020
Things we’re reading today include … RBS’s digital bank Bo tells customers to shred their cards Starling hits 100,000 business customers as SME banking hots up UniCredit cuts further its stake in Turkey’s Yapi Kredi Barclays faces fresh investor revolt over fossil fuels What the City needs from an EU … The post Things worth reading: 6th February 2020 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 5, 2020
The U.S. central bank is studying the feasibility of a digital currency, said Federal Reserve Governor Lael Brainard. “Given the dollar’s important role, it is essential that we remain on the frontier of research and policy development regarding” central bank digital currency, or CBDC, Brainard said Wednesday in the text of a speech prepared for […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
FEBRUARY 5, 2020
As consumers increasingly expect to complete bank interactions online, a survey commissioned by Lightico indicates that creating end-to-end digital journeys continues to be a struggle for many banks. Lightico, a tech company that digitizes processes like signatures and document submission, found that bank customers are often required to go into a brick-and-mortar branch after starting […].
Chris Skinner
FEBRUARY 5, 2020
Following yesterday’s discussion of Brexit and it’s implications on financial services, there’s a little more to be said on this. For example, every year at The Financial Services Club, we are delighted to host our friend David Doyle who, with precision-based analysis, talks us through the implications of EU Regulations on … The post And even if finance gets a #Brexit deal, equivalence is not the answer appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 5, 2020
FinTechs are keeping an eye on emerging technologies at the beginning of the year — and predicting how they will impact business-to-business (B2B) payments in 2020. AvidXchange CEO and Co-Founder Michael Praeger, in one case, told PYMNTS that “AI [artificial intelligence] and machine learning have already made huge waves in the payments space, but I think we’ve yet to see their full impact, particularly as it relates to real time and cross-border payments.
Banking Exchange
FEBRUARY 5, 2020
US sector takes 5% hit – despite strong performance from J.P Morgan and Merrill Bank Performance The Economy Retail Banking Financial Trends Management Feature Customers Performance Feature3.
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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
FEBRUARY 5, 2020
Application programming interfaces (APIs) may be underutilized in business and financial sectors. Recent surveys have found that many bankers and small business (SMB) owners are unaware of how to use business-to-business (B2B) APIs securely and optimally. A survey of Hong Kong and Singaporean bankers, for instance, found that 23 percent are wary of adopting APIs because of unclear regulations.
Payments Source
FEBRUARY 5, 2020
It’s the universal travel faux pas: You arrive at a hotel, receive your luggage from the bellboy, reach into your pockets, scour your wallet, and turn up … nothing. Or, perhaps worse, a large-denomination bill you’re too embarrassed to ask them to break.
PYMNTS
FEBRUARY 5, 2020
FinTech unicorn Airwallex is partnering with Visa to introduce a borderless card for businesses, the companies announced on Wednesday (Feb. 5). The Airwallex Borderless Card is being debuted in Australia after being introduced at the innovation festival Pause Fest 2020 taking place in Melbourne Feb. 5-7. Later in 2020, the card will roll out in other locations, including the U.K. and Hong Kong.
ABA Community Banking
FEBRUARY 5, 2020
It takes a “diversity of imagination” to drive innovation in community banking, says Lead Bank CEO and Vice Chairman Josh Rowland on the latest episode of the ABA Banking Journal Podcast, sponsored by Franklin Madison. Rowland — who has been recognized as one of the most innovative community bank CEOs — explains Lead Bank’s board [.].
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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
FEBRUARY 5, 2020
After a significant partnership last year that expanded its business, Vodacom Group Chief Executive Shameel Joosub announced on Tuesday (Feb. 4) that the company will collaborate with Liquid Telecom to bring 5G mobile services to South Africa. Starting this year, the two companies will offer customers joint 5G mobile services. Mobile consumers in the country are frustrated by delays in the availability of the necessary, more robust infrastructure to allow much faster telecommunications than 4G
CFPB Monitor
FEBRUARY 5, 2020
The CFPB has issued its Fall 2019 Semi-Annual Report to Congress covering the period April 1, 2019 through September 30, 2019. The report represents the CFPB’s third semi-annual report under Director Kraninger’s leadership and continues the practice of the prior two reports of not providing aggregate numbers for how much consumers obtained in consumer relief and how much was assessed in civil money penalties in supervisory and enforcement actions during the period covered by the report.
PYMNTS
FEBRUARY 5, 2020
In finance, accounting is everything. Accounting for everything, especially when it comes to credit — in other words, taking stock and measure of where lending activities have been concentrated, where risk is and where losses may loom — is as much art as science. For lenders large and small, a new accounting rule could start to tighten lending standards, with the ripple effect of perhaps making credit a bit scarcer.
American Banker
FEBRUARY 5, 2020
The payments company is working with nonprofit organizations, law enforcement authorities, victims and others to make it harder for the criminals behind the modern slave trade to move money.
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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
FEBRUARY 5, 2020
The rise of the gig economy is inexorable. By some estimates, within this decade, about half of the U.S. workforce will be made up of self-employed individuals. With the rise in short-term ad hoc work, the very nature of how workers are paid is changing, too. For the companies that pay these workers, sometimes globally and across currencies, managing accounts payable (AP) processes is quickly becoming a complex endeavor.
Payments Source
FEBRUARY 5, 2020
Firms will need to adjust to ISO 20022 and new SWIFT rules as data protection takes center stage, says says ACI Worldwide's Craig Ramsey.
PYMNTS
FEBRUARY 5, 2020
With digital sales rocketing by 78.3 percent and accounting for 19.6 percent of sales, Chipotle Mexican Grill reported a comparable restaurant sales increase of 13.4 percent for the fourth quarter. The quick-service restaurant (QSR) company opened 80 new restaurants, with the inclusion of one relocation, and closed three locations during the quarter.
Bobsguide
FEBRUARY 5, 2020
If the heavy compliance burden wasn’t already overwhelming financial institutions and broker-dealers, the accelerating shift to near real-time reporting is tipping many over the edge. For me, this was the most striking finding from a new research report, Meeting the challenges: Compliance.
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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
FEBRUARY 5, 2020
Retailer 7-Eleven is testing a new concept: cashierless stores, according to a release. . The company has introduced the concept at its headquarters in Irving, Texas. The store is 700 square feet and currently available to employees of the company. “ Retail technology is evolving at a rapid pace and customer expectations are driving the evolution,” said 7-Eleven President and CEO Joe DePinto.
Payments Source
FEBRUARY 5, 2020
Investors have made a $10 million bet on Stori, which is pushing mobile money over a branch network to bring more consumers into Mexico's banking system.
PYMNTS
FEBRUARY 5, 2020
If pre-season estimates were correct, this holiday season was worth $1 trillion in the United States alone. And even if it doesn’t quite make it over the trillion-dollar milestone, consumer spending will certainly get within striking distance – which attests to the fact that in the U.S. and around the world, people were shopping hard during the holidays.
Payments Source
FEBRUARY 5, 2020
Inertia or resistance to change have kept small businesses from making the move to more modern systems, says Clover's Mark Schulze.
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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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