Chris Skinner
JANUARY 23, 2020
Although most businesses fail in their first year, it is quite incredible just how many start-ups there are around the world doing something interesting with technology. According to Embroker: In 2016, 69% of U.S. entrepreneurs started their business at home. In 2018, there were 145 “active unicorns” in the U.S. collectively … The post It’s a start-up world appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 23, 2020
MoneyGram has partnered with Suez Canal Bank to let customers send money right into Egyptian bank accounts, according to a press release. The deal will expand MoneyGram’s presence in Egypt and give it access to Suez Canal’s large network of correspondent banks around the globe. The bank will also connect with MoneyGram’s platform and offer customers new deposit services to give customers an enhanced experience.
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Chris Skinner
JANUARY 23, 2020
Things we’re reading today include … Executive at Portuguese bank co-owned by Isabel dos Santos is found dead JPMorgan board raises CEO Dimon’s pay to $31.5 million Andrew Bailey to be quizzed on regulator’s role in LC&F scandal John Stumpf: Ex-Wells Fargo boss pays $17.5m to settle charges Why equivalence … The post Things worth reading: 24th January 2020 appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 23, 2020
Visa is launching a program to expand access to cash for rural and low income communities in the U.K. amid reduced access to branch banking and ATM coverage. The program gives incentives to retailers to provide cash back to customers.
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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 23, 2020
Amid the digital upheaval in our industry, one thing hasn’t changed: regulatory compliance. In fact, given digital transformation, it is even more important that institutions maintain their compliance with federal, state and local laws and regulations. To understand how bankers view the regulatory landscape heading into 2020, CSI, a leading provider of fintech solutions, polled […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 23, 2020
Bank Innovation has hand-selected 10 companies to participate in its DEMOvation Challenge at Bank Innovation Ignite, which runs from March 2-3 in Seattle. The companies focus on a variety of use cases including customer acquisition, loan underwriting technology, conversational AI, fraud prevention, and other digital capabilities. The competing companies are listed below.
PYMNTS
JANUARY 23, 2020
The New York City Council on Thursday (Jan. 23) passed a ban on cashless food and retail stores. The ban was reportedly spearheaded by Councilmember Ritchie Torres. After the decision, Stuart Appelbaum, president of the Retail, Wholesale and Department Store Union (RWDSU), praised the Council for doing away with cashless stores , saying that forcing customers to use only credit or debit is “discriminatory” and serves as a disadvantage for low-income customers, people of color, undocu
Bank Innovation
JANUARY 23, 2020
Ally Financial this week reported it’s continuing its winning streak in deposit growth. In a third-quarter earnings report, the bank reported total deposits of $119.2 billion, up 18% year over year. Meanwhile, the bank’s customer retention rate stands at 96%, a level it characterized as “stable and strong.” Ally revealed that it has 1.94 million […].
PYMNTS
JANUARY 23, 2020
Mastercard and digital personal finance company SoFi have teamed up on a suite of products and experiences to benefit SoFi’s nearly one million customers, the companies announced in a release. The partnership starts with the SoFi Money debit card, an offering that will exist exclusively on the Mastercard network. SoFi’s card will provide an additional way for customers to spend with their SoFi Money cash management accounts.
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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 23, 2020
Invoicing and accounts payable company AvidXchange has raised $260 million in equity funding, which co-founder and CEO Michael Praeger said would help grow the company’s sales, marketing, product development and engineering teams. According to Praeger, AvidXchange has seen eight consecutive years of 40% growth, and the new funding should help the company continue that growth […].
Accenture
JANUARY 23, 2020
Accenture’s ground-breaking 2019 Global Financial Services Consumer Study has seen four mindsets emerge from the data: Pioneers, Sceptics, Traditionalists and Pragmatists. In this series of blog posts, we’ll look at each type in the Australian context.¹ The global view Pragmatists are evenly distributed across ages and geographies—unlike Traditionalists, who are generally older, or Pioneers, who….
Bank Innovation
JANUARY 23, 2020
Consumer credit reporting agency TransUnion has been named as the primary data provider for Payfone, which provides mobile and digital identity authentication solutions to top U.S. financial institutions. The partnership will enable Payfone to use TransUnion’s algorithms to strengthen the accuracy of its fraud detection capabilities. “Payfone has seen great value in leveraging TransUnion’s data resources and incorporating more of [TransUnion’s] data into our existing solutions,” Payfone CEO Rod
PYMNTS
JANUARY 23, 2020
Former Wells Fargo CEO John Stumpf has been banned from ever working in the banking industry again by the U.S. government, according to a report by CNBC. He will also have to pay $17.5 million for his role in a scandal at Wells Fargo involving millions of fake accounts created to meet the bank’s sales quotas. The Office of the Comptroller of the Currency (OCC) said that there will also be a number of other individuals selected for punishment involving the fake accounts scandal, including other e
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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.
Bank Innovation
JANUARY 23, 2020
The early registration deadline for Bank Innovation Ignite ends tomorrow, Friday, January 24. Bank Innovation Ignite, which will take place at the Grand Hyatt Seattle, March 2-3, 2020, is an exclusive invitation-only event presented by Bank Innovation. Don’t miss out on your chance to secure your spot at the lowest rate for the event designed […].
PYMNTS
JANUARY 23, 2020
As more accounts receivable (AR) and accounts payable (AP) solution providers consider the other side of a B2B transaction, businesses increasingly discover that payment methods are an important part of finding middle ground between buyers and suppliers. This week’s look at the convergence of AR and AP finds service providers exploring the use of payment tools to meet AR and AP needs.
Bank Innovation
JANUARY 23, 2020
The early registration deadline for Bank Innovation Ignite ends tomorrow, Friday, January 24. Bank Innovation Ignite, which will take place at the Grand Hyatt Seattle, March 2-3, 2020, is an exclusive invitation-only event presented by Bank Innovation. Don’t miss out on your chance to secure your spot at the lowest rate for the event designed […].
PYMNTS
JANUARY 23, 2020
Evolution is the hallmark of everything that survives over a long period of time — and so it should come as no surprise that unattended retail has evolved, too, over more than a century since the first coin-operated vending machines made their debut in the late 1800s. Since then, we’ve moved on from dollar bills and dimes to digital payments at the machine and the kiosk — and along the way, the very definition of unattended retail has changed.
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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 23, 2020
While the size of the global remittances market may ebb and flow with the global economy, one thing is clear – it’s massive, at over $700 billion in payments each year and growing.
PYMNTS
JANUARY 23, 2020
More than 4.1 billion consumer accounts fell victim to data breaches during the first half of 2019 — to the tune of $4 million in lost revenue per breach. This comes to approximately one hack every 39 seconds, and affects a wide range of businesses and customers. Many of these data breaches are the result of phishing, which dupes victims into giving up login credentials or other sensitive information that is either used for account takeovers or sold on dark-web marketplaces.
BankBazaar
JANUARY 23, 2020
Using a mobile app to track your spends and yet ending up spending recklessly at the end of the month? Here’s a novel way to rein in those mindless spends: the Kakeibo saving method. Spending and saving money can seem like mutually-exclusive concepts that are often at loggerheads with each other, but they both can actually go hand in hand. This does not require painstaking calculations or spending a bomb on financial advisers.
PYMNTS
JANUARY 23, 2020
The European Union’s long-anticipated 5th Anti-Money Laundering Directive (5AMLD), which modernizes security rules to reflect the needs and threats facing today’s economy, took effect in mid-January, and its impacts are already being felt across the payments space. 5AMLD’s impacts include strengthening anti-money laundering (AML) and counter-terrorist financing (CTF) regulations in the cryptocurrency space — something that has not pleased all the affected crypto companies. 5AMLD requires them to
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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.
Matt Wilcox Pro
JANUARY 23, 2020
Originally posted October 10, 2017 How the U.S. government helps hackers When you email or visit a website, your computer leaves behind a calling card in the form of its IP address. Short for “Internet Protocol,” the IP address helps devices locate and recognize each other, thus speeding communication. People, too, can identify senders and visitors by [.
PYMNTS
JANUARY 23, 2020
The world is getting smaller — people have been saying that for decades. And retail and commerce-related payments are certainly a big part of that trend. It’s not just the direct selling of products to consumers that matters when it comes to cross-border retail. Logistics, for instance, is a big area, as you can probably imagine. And that’s why news was recently made when, just a few weeks ago, it was announced that Flow, a logistics startup that helps companies with cross-border eCommerce solut
Bobsguide
JANUARY 23, 2020
Card schemes will control all payments in the next 10 to 15 years, according to a panel of payments advisors at the Westminster Business Forum’s Payments policy and regulation conference today in London. The panel, which also included spokespeople from Visa, UK Finance, and Lloyd’s.
PYMNTS
JANUARY 23, 2020
Cryptocurrency went from dark-web danger to high-tech investment opportunity seemingly overnight, and, as more consumers seek to use digital currency, more businesses are stepping into the space. The adoption of cryptocurrency among small- and medium-sized businesses (SMBs) may be larger than one might think. According to a recent survey by specialty insurer Hartford Steam Boiler ( HSB ), as much as one-third of SMBs in the U.S. currently accept cryptocurrency as payment, and even more have purc
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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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