Bank Innovation
OCTOBER 24, 2019
Over the past 10 years, the landscape of the financial services industry has dramatically evolved. Technology and the rise of fintechs have called into question almost every traditional banking model, requiring banks to either adapt or be left behind. In today’s digital age, some banks have been slow to innovate or to create a more […].
Payments Dive
OCTOBER 24, 2019
Facebook chairman and CEO Mark Zuckerberg endured withering and often painful questioning as he tried to convince House members that the effort to develop Libra into a global digital currency could provide significant benefits to millions of underbanked consumers.
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Bank Innovation
OCTOBER 24, 2019
Despite the vast improvements banks have made to online account opening processes, most consumers are still turning to branches to open new accounts, a recent Forrester Research study observed. According to a Forrester Research study released Wednesday, 71% of U.S. adults who use the internet regularly still went into a branch to open a checking […].
Chris Skinner
OCTOBER 24, 2019
Following on from the discussion of payments in the cloud, I was recently asked by Volante Technologies to consider what being a digital bank means for a commercial bank’s payments and treasury services and identified three areas of focus: moving payments to the cloud; fast-tracking real-time / instant payments adoption; … The post The Digital Corporate Bank, Part Two: Real-time Payments appeared first on Chris Skinner's blog.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Bank Innovation
OCTOBER 24, 2019
When it comes to opening new bank accounts, customers still tend to trust the branch over digital channels, according to a new study from Forrester Research. While digital tools are areas of emphasis for major banks, the study points to the ongoing importance of a human touch. Seventy-one percent of U.S. adults who regularly use […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
OCTOBER 24, 2019
Digital banking and stock trading app Revolut, which boasts 8 million customers, is in the midst of a global expansion effort. The U.K.-based company, which operates in Europe and Australia, announced two major milestones this week: a tie-up with Mastercard that will help fuel a planned U.S. rollout, and a launch in Singapore. The company’s […].
PYMNTS
OCTOBER 24, 2019
We might all be in the middle of one of the greatest — and most vital — cat-and-mouse games of all time. That’s the sense one gets when considering efforts to prevent fraudsters from exploiting digital payments and commerce, efforts taking on more importance as the global economy continues to grow — and which keep getting smarter, thanks to machine learning and artificial intelligence (AI) tools.
Bank Innovation
OCTOBER 24, 2019
Ping An Insurance wants to be valued more like a technology company. Its executives have yet to convince investors their planned $22 billion spend on everything from artificial intelligence to block chain will work. While Ping An’s Hong Kong-traded stock has risen 36% since January, it trades at 9.7 times projected earnings over the next […].
PYMNTS
OCTOBER 24, 2019
London-based FinTech firm Revolut partnered with Visa to roll out a multi-currency travel debit card in Singapore, Visa said in a press release on Wednesday (Oct. 23). . The new card offers users the ability to spend overseas in over 150 currencies at the real exchange rate and without hidden fees. . A YouGov survey commissioned by Visa showed that people in Singapore are open to the idea of using neobanks and want a debit product.
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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
Payments Source
OCTOBER 24, 2019
Transit tech advances in Australia; Hostile nations attack U.K. payments; Klarna teams with Wayfair; and other information you need to start your day, from PaymentsSource and around the web.
PYMNTS
OCTOBER 24, 2019
Zuckerberg Tells Congress That Libra Fills A Global Payments Void. Facebook CEO Mark Zuckerberg went before the U.S. House Committee on Financial Services on Wednesday (Oct. 23), to both promote and defend proposed cryptocurrency Libra. He faced lawmaker skepticism over a range of Libra’s stated ambitions, but he reiterated his position: Libra is not meant to replace sovereign currency, and it will aid the unbanked population of the world.
Payments Source
OCTOBER 24, 2019
PayPal announced a record-breaking quarter on multiple fronts including overall growth in total payment volume , yet one issue still dogs PayPal — it loses money on the majority of Venmo users.
PYMNTS
OCTOBER 24, 2019
The popular Cash app, owned by Square, now has the ability for users to buy and sell stocks. CNBC is reporting that customers who use the San Francisco-based app can even buy fractions of a stock, an option that isn’t available for rivals like the Robinhood app. For example, stocks like Berkshire Hathaway class A shares were trading for $315,000 on Thursday, but customers can buy a portion of them for as little as $1.
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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
Payments Source
OCTOBER 24, 2019
The online platform lender Kabbage is making the move beyond just providing working capital loans to small businesses, putting it in direct competition with alternative acquirers and payment companies.
PYMNTS
OCTOBER 24, 2019
So far, the young life of the Apple Card has turned out pretty — perhaps even spectacularly — good, depending on the source. However, the real tests are yet to come, as is the case for anything new and popular. The recent news about Apple Card includes a big thumbs-up from Goldman Sachs CEO David Solomon. The investment bank is hardly an unbiased observer when it comes to Apple Card — Goldman is the bank behind the payment method, after all.
Payments Source
OCTOBER 24, 2019
Ravi Menon says that Facebook's bid to create its own digital currency has laid bare shortcomings in cross-border payments and financial inclusion that banks and regulators must address.
PYMNTS
OCTOBER 24, 2019
Cross-border payments still present challenges , but the landscape is changing rapidly. . Swift recently announced that its gpi service can integrate with domestic real-time systems to facilitate rapid cross-border transactions. A trial of the service included one test in which it delivered a payment from Singapore’s FAST scheme through 17 banks and seven countries within 13 seconds.
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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.
Payments Source
OCTOBER 24, 2019
One more company has officially jumped on the free stock trading bandwagon. Over the next few weeks, Jack Dorsey’s Square Inc. will start allowing customers to buy and sells stocks for free on its cash payments app.
PYMNTS
OCTOBER 24, 2019
Andres Vallejo worked as a tennis instructor through his college years before starting Tennis Trunk. And, as a lifelong tennis player, Vallejo told PYMNTS in an interview, he was very familiar with the industry and the needs of consumers “not only from a product level but also from a service level.” Beyond giving lessons, Vallejo hosted tournaments and clinics.
Payments Source
OCTOBER 24, 2019
The Federal Trade Commission should look into whether Amazon’s failure to secure its services “constitutes an unfair business practice,” which would violate federal law, Sens. Elizabeth Warren and Ron Wyden wrote the agency's chairman.
PYMNTS
OCTOBER 24, 2019
American Express has announced that it has reimagined its American Express Green Card to include new benefits and features. Now called Green from Amex, the card allows users to earn triple membership rewards points when eating out, commuting or taking a trip, according to a press release. In addition, card members can receive up to $100 in statement credits per calendar year toward the purchase of CLEAR membership, as well as up to $100 in statement credits per calendar year toward purchases wit
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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.
Payments Source
OCTOBER 24, 2019
Responding to the fast pace of payments technology and its impact on privacy and data security, Mastercard plans to recruit a range of companies, educational institutions and agencies to produce a set of best practices.
PYMNTS
OCTOBER 24, 2019
As it expands in New York City, Nordstrom opened the doors to its first-ever flagship store for women and children on West 57th Street across from the new Nordstrom Men’s Store that debuted last April. The new flagship store occupies the base of the Central Park Tower, which the company says is the tallest residential building in the world, according to an announcement.
Payments Source
OCTOBER 24, 2019
As requirements change, open standards can help governments feel confident that solutions are agnostic, flexible and safe from vendor lock-in, says the OSPT Alliance's Luiz Guimaraes.
PYMNTS
OCTOBER 24, 2019
Financial services company Fiserv has released a new system called CheckFree Next that will enable companies to provide automated and personal bill paying experiences for customers, according to a release on Thursday (Oct. 24). “Electronic bill payment has become an intrinsic part of many people’s daily lives, however, features that were once cutting-edge are now status quo,” said Tom Allanson, division president of enterprise payment solutions at Fiserv.
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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.
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