Thu.Sep 19, 2019

article thumbnail

Greed is good … and my bonus is better

Chris Skinner

I was a bit agog and aghast at the recent announcement from 192 US CEOs, who said that stakeholders are now more important than shareholders. This focus upon stakeholders has been an emerging trend for over the past quarter century and here’s what these great US leaders said: Statement on … The post Greed is good … and my bonus is better appeared first on Chris Skinner's blog.

Trends 303
article thumbnail

ID2020 Alliance Unveils Digital ID Program

PYMNTS

At its annual summit in New York , the ID2020 Alliance announced the roll out of a digital identity program with the Government of Bangladesh ; Gavi, the Vaccine Alliance; and new partners in academia, government and humanitarian relief. “Digital ID is being defined and implemented today, and we recognize the importance of swift action to close the identity gap,” said Dakota Gruener, executive director of ID2020, in an announcement.

New York 280
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Decred aims to deliver decentralized future

Payments Dive

Blockchain began as a tool for Bitcoin to deliver a decentralized future for the financial industry. Since then, Bitcoin has largely turned into a speculative investment and blockchain is increasingly being adopted by large financial institutions looking to boost efficiency. Some companies are still aiming to keep its decentralized message alive.

Bitcoin 236
article thumbnail

SellersFunding acquires AmzLenders in a bid to reach more Amazon sellers

Bank Innovation

SellersFunding, a Ridgewood, N.J.-based SME lender, has acquired AmzLenders to broaden its reach among e-commerce sellers. Terms of the deal, which closed on Wednesday, were not disclosed, but SellersFunding CEO Ricardo Pero told Bank Innovation that the objective is to reach a wider group of clients. With AmzLenders, a two-year-old company focused on Amazon sellers, […].

Groups 199
article thumbnail

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

article thumbnail

Things worth reading: 20th September 2019

Chris Skinner

Things we’re reading today include … Changing weather could put insurance firms out of business Brexit/City jobs: iffy on the Liffey U.S. stock exchange competition to heat up in 2020 with new entrants FCA attacked by research houses over Mifid II reforms Two British bankers are on trial in Germany’s … The post Things worth reading: 20th September 2019 appeared first on Chris Skinner's blog.

193
193

More Trending

article thumbnail

Deutsche Bank Takes Stake In Open Banking FinTech

PYMNTS

Deutsche Bank has acquired a 4.9 percent stake in the German-based FinTech Deposit Solutions, according to a Deutsche Bank press release on Thursday (Sept. 19). Deposit Solutions provides open banking technology that allows more than 100 banks across 18 countries to offer their customers products from third-party banks. Deutsche Bank has had a relationship with Deposit Solutions since 2017 with a savings product called ZinsMarkt.

Fintech 188
article thumbnail

United Trust Bank is using selfies for identity verification

Bank Innovation

United Trust Bank is using facial recognition technology to speed up its mortgage application process. The bank, which launched the service this week through a partnership with technology firm Nivo Solutions, is trying to eliminate the customer pain point of verifying identity, a requirement for mortgages in Britain. United Trust claims that identity verification is […].

article thumbnail

Stripe Reaches $35B Valuation With Latest Funding Round

PYMNTS

FinTech Stripe is raising $250 million in its latest funding round and has reached a pre-money valuation of $35 billion, according to a release on Thursday (Sept. 19). . General Catalyst, Sequoia and Andreessen Horowitz all participated in the round. Stripe said it’s going to use the funding to continue growing its product suite, extend its enterprise capabilities and continue to grow internationally. .

America 182
article thumbnail

Stripe becomes third most valuable startup in the US

Bank Innovation

Payments platform Stripe became one of the most highly valued startups in the world on Thursday, after it announced a new funding round at a $35 billion valuation. In the U.S., only vaping giant Juul Labs Inc. and the troubled We Co. are more valuable. Stripe raised $250 million in funding in the new round, which […].

US 150
article thumbnail

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

article thumbnail

What Brexit Uncertainty Will Mean For Ireland’s FinServ Future

PYMNTS

The Brexit saga is a case study in uncertainty ever since then-British Prime Minister David Cameron stepped down June 24, 2016, the day after the referendum vote unexpectedly ruled in favor of leaving the European Union. The last few weeks, although eventful, have not been particularly clarifying. With Brexit’s Oct. 31 deadline rapidly approaching, the same basic set of questions remains: Will there be a Brexit deal?

article thumbnail

OCC can't claim victory despite dismissal of fintech charter suit

Payments Source

A federal judge blocked state regulators from suing the agency over its new charter, but it’s still unclear whether fintechs would even apply.

Fintech 102
article thumbnail

Cross River To Provide Clients With Real-Time Payment Ability

PYMNTS

Cross River, a company that provides banking services for technology companies, will join The Clearing House’s (TCH) RTP network, according to a release. By joining the network, Cross River will be able to give its clients the ability to send, settle and clear payments instantly, along with messaging capabilities, while ensuring compliance. “Since inception, Cross River has been an early adopter of new technology to provide our partners with the latest, most innovative tools to align with their

Payments 173
article thumbnail

Morning Brief 9.19.19: Starbucks unwraps pen payments in Japan

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: Starbucks extends IoT play in Japan; ECB board member calls for collaboration to counter Libra; Contactless transit pay reaches Rome; North Focals debuts web pay for techie glasses.

article thumbnail

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.

article thumbnail

Can Amazon Bring More Climate Action To Retail And Payments?

PYMNTS

So goes Amazon, so goes most of the rest of the retail world, with the eCommerce operator’s influence also extending to payments. That’s been the general situation for a decade or more. But will that hold true when it comes to climate change? We might soon find out. That’s because Amazon CEO Jeff Bezos on Thursday (Sept. 19) unveiled the company’s plan to tackle climate change – a plan designed to meet goals set by the Paris climate agreement, but a decade ahead of schedule.

Retail 168
article thumbnail

Making Amazon work for smaller issuers

Payments Source

Vibrant Credit Union sees great value in converting its members to mobile and digital payments. And days like Amazon Prime Day can be critical for its digital wallet strategy.

article thumbnail

The Impossible Burger To Make Its Grocery Debut

PYMNTS

Once only available in restaurants, The Impossible Burger will be available for sale in grocery stores this week. Shoppers will be able to buy the meat-free burger at 27 Gelson’s Markets locations in California, and Impossible Foods reportedly plans to bring it to additional grocery stores later in the month, The Verge reported. The Impossible Burger will come in 12-ounce packages priced at $8.99 apiece.

article thumbnail

25 Personal Finance Habits You Must Follow

BankBazaar

How good are you with your finances? If you’re one among the many who follow these 25 habits, then you’re sorted. Personal finance management isn’t as complex as they make it to be. It all boils down to practising some good financial habits and you’re sorted. So, how good are you when it comes to managing your finances? We hope that you have quite a lot of good personal finance habits.

Taxes 79
article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

article thumbnail

Aussie FinTech Douugh Introduces ‘Savings Jar’ With Mastercard Debit

PYMNTS

Australian consumer FinTech company Douugh is kicking off its visual “Savings Jar” feature as it widens the availability of its artificial intelligence (AI)-assisted bank account with a Mastercard debit card, Mastercard said in a press release on Thursday (Sept. 19). The Savings Jar component is structured to assist Douugh users with picturing and pursuing their savings goals.

Fintech 148
article thumbnail

Diebold top exec boasts ATMs are market's 'most secure'

ATM Marketplace

At Diebold Nixdorf's recent DN Intersect event in Los Vegas, ATM Marketplace sat down with the company's director of systems security to talk about how the new DN Series is tackling security issues.

ATM 81
article thumbnail

How Banks Are Using AI, ML To Fight Account Opening Fraud

PYMNTS

The threat of a data breach is now an ever-present part of life for customers and the banks that serve them. A reported 3,813 data breaches across a number of industries — collectively exposing 4.1 billion customer records — occurred in the first six months of 2019, for example. This has become a larger problem for FIs as they must not only deal with protecting customers from fraud, but also guard against bad actors armed with 4.1 billion stolen credentials.

Fraud 144
article thumbnail

Real-time payments: Are we halfway there?

Payments Source

The promise of real-time payments and the reality of the market are often at odds. That’s not a bad thing — it’s a sign there are pockets of demand that weren’t originally foreseen.

article thumbnail

Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

article thumbnail

Oracle Expands Supply Chain Cloud With Digital Assistant

PYMNTS

Oracle is expanding its Supply Chain Management (SCM) Cloud solution with a range of new features, including integration into a business network and the addition of a digital assistant, the company said on Wednesday (Sept. 18). The launch of the Oracle Business Network connects business users of the supply chain management solution with their B2B partners, either directly or via third-party networks like eInvoicing or logistics platforms.

article thumbnail

Cross-border e-commerce will sink without payment diversity

Payments Source

Selling to international markets is the name of the game for online merchants, which face a threat to their relevance if they can't match the distinct transaction preferences of individual markets.

article thumbnail

Google Rolls Out Google Pay, Integrated Payments In India

PYMNTS

Google for India recently launched new features and updates to several products, including enhancements to Google Assistant, Pay, Lens and Search, Android Central reported on Thursday (Sept. 19). India is an important market for Google, with Android users making up of 98 percent of smartphone users. Google said it handles 918 million transactions a month in India.

Google 141
article thumbnail

Cloud POS services push traditional acquiring to the sunset

Payments Source

Revel noticed its point-of-sale customers were similar to most consumers who don't take advantage of the vast capabilities of their computers or smartphones, or don't even realize what tools exist.

Tools 69
article thumbnail

2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.