Chris Skinner

NOVEMBER 18, 2019

In the last month, there’s been a wave of announcements from Facebook, Apple, Google and Amazon about banking. We’ve seen Facebook’s major activities in trying to create a digital currency called Libra, and Apple’s move into finance with a credit card from Goldman Sachs which, in just a month, offered … The post Google, Facebook, Amazon and Co are NOT offering banking, so stop saying they are appeared first on Chris Skinner's blog.

Google 412

Google Apple Cards Digital Banking 412

Bank Innovation

NOVEMBER 18, 2019

The bank of the future will cease to be about specific products and services. Instead, it will offer embedded “experiences” based on data the institution has on its customers, according to a report released by HSBC this month. Entitled “Banking of the Future: Finance in the Digital Age,” the study was developed for HSBC by […].

Data 273

Data Study Report Innovation Strategies 273

Chris Skinner

NOVEMBER 18, 2019

Things we’re reading today include … How To Succeed As A Challenger Bank Ant Financial May Join Race for Singapore Virtual Bank Licenses ‘Why economists get things wrong’ Sexist and biased? How credit firms make decisions Jayne-Anne Gadhia: ‘People joke I have a way with bearded billionaires’ The Indian payments … The post Things worth reading: 19th November 2019 appeared first on Chris Skinner's blog.

How To 179

How To Payments 179

Bank Innovation

NOVEMBER 18, 2019

Facebook is adding a digital payment method to its platform, a move which will facilitate retail transactions, and ultimately encourage customers to stay within its ecosystem. Facebook Pay, which was announced last week, will link to most credit cards and debit cards, much like Amazon Pay and Venmo. Users will have the option of donating […].

Payments 225

Payments Cards Retail Marketing 225

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.

US

South State Correspondent

NOVEMBER 18, 2019

NEW PRODUCT DEVELOPMENT In past articles, we have talked at length about using agile methodology for application development, for technical product innovation, and for your risk processes. We are fans of forsaking the traditional “waterfall” approach for new products whenever possible and getting to marketing in a pilot program as quickly as possible so you can learn and iterate to success.

Lending 170

Lending Innovation Marketing 170

South State Correspondent

NOVEMBER 18, 2019

BANK WEBSITE MARKETING While last week we focused on bank mobile app usage, in this article we take a look at how mobile and online usage compares to see what insights we can glean for bank marketing and customer experience management. Because your phone is always close-at-hand, mobile banking usage tends to be more stable and regular throughout the week and day.

Customer Experience 170

Customer Experience Mobile Online Marketing 170

Bank Innovation

NOVEMBER 18, 2019

Germany has a message for big tech companies: Get ready to be regulated if you want to offer banking services. “It’s really, really important” to ensure a level playing field between banks and new competitors, Deputy Finance Minister Joerg Kukies said at a conference in Frankfurt on Monday. “That means the big tech firms also […].

Conference 170

Conference Regulation Company Innovation Strategies 170

Abrigo

NOVEMBER 18, 2019

Key Takeaways Cannabis-related businesses operate in high cash volumes, creating a public safety concern. The SAFE Banking Act looks to create a safe harbor for institutions looking to bank legitimate CRBs. The SAFE Banking Act does not remove marijuana as a schedule 1 drug on the Controlled Substance Act. Why is the SAFE Banking Act important? As differences continue to exist in state and federal law around the cannabis industry, it creates a growing gray area for financial institutions around

Regulation 150

Regulation Community National Operations 150

PYMNTS

NOVEMBER 18, 2019

It’s a cliché (but a true one) to say that the automotive world, and the culture attached to it, is undergoing a massive, historic change — thanks to digital and mobile technology, and a shift in consumer preferences. Cars and trucks are becoming rolling centers of commerce and payments. Ridesharing and other programs are changing the concept of what it means to be a driver, rider and user of transportation in general.

Meeting 163

Meeting Mobile Technology Industry 163

Advertisement

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

Lending

BankBazaar

NOVEMBER 18, 2019

Need cash urgently? Now, get a loan of up to Rs. 20 lakhs credited to your bank account in just 3 seconds with ICICI pre-approved Personal Loan. Here’s everything you need to know. Gone are the days when getting a Personal Loan used to be a time-consuming affair that included going to the bank, talking to bank officials, filling up long forms, doing tedious paperwork and then waiting for days to get the loan approval.

Management 110

Management 110

PYMNTS

NOVEMBER 18, 2019

U.S. Bancorp subsidiary Elavon is acquiring U.K. payments gateway Sage Pay for $300 million, according to reports on Monday (Nov. 18). The deal comes as Sage Pay’s parent company Sage Group said in September that it was seeking “strategic alternatives for the payments business.” The company had more recently been focused on accounting, people and payroll software.

Maine 160

Maine Groups System Software 160

Payments Source

NOVEMBER 18, 2019

As deployments accelerate it's hard to ignore the validity of cryptocurrency. But there's still work to do, says Polyient Labs' Brad Robertson.

cryptocurrency 122

cryptocurrency Bitcoin Retail Payments 122

PYMNTS

NOVEMBER 18, 2019

Chinese startup Byton announced Monday (Nov. 18) that it has secured a distributor license from California, bringing it one step closer to bringing its first electric SUV, Byton M-Byte, to the United States. The company, which was launched in 2017 by Future Mobility Corp, plans to roll out its electric SUV in China in 2020 before moving into the U.S. and the European Union in 2021, according to Reuters.

US 155

US California United States Retail 155

Advertisement

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

Report

Ron Shevelin

NOVEMBER 18, 2019

Challenger banks need product--not just user experience--differentiation. Oh, and a marketing budget.

How To 104

How To User Experience Marketing 104

PYMNTS

NOVEMBER 18, 2019

Cybersecurity experts are warning that the next year, and beyond, will continue to present an elevated threat level to businesses at risk of payments fraud — and governments are taking steps to react accordingly. In Ireland, police are sounding the alarm on the threat of B2B payments fraud after multiple businesses lost hundreds of thousands of dollars to business email compromise (BEC) scams.

Fraud 129

Fraud Payments Report Groups 129

Payments Source

NOVEMBER 18, 2019

Zazu Limited, a Zambian fintech, has partnered with Mastercard to launch a mobile wallet that supports a prepaid account instantly issued from the app to any local consumer — with or without a bank account.

Fintech 73

Fintech Mobile Cards Payments 73

PYMNTS

NOVEMBER 18, 2019

For real-time payments, the infrastructure is there, and now comes the demand. To that end, according to Craig Ramsey, head of real-time payments at ACI Worldwide , the real-time payments focus in the United States through the present day has been on consumer propositions — sending money instantly between parties for groceries, restaurant bills and other expenses.

Course 124

Course Payments Cards Examples 124

Advertisement

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.

Lending

Payments Source

NOVEMBER 18, 2019

Apple Pay supports new dApp payments; Digital ID advances in Singapore; and other information you need to start your day, from PaymentsSource and around the web.

Payments 75

Payments Apple 75

PYMNTS

NOVEMBER 18, 2019

With Open Banking business models inspiring FinTech innovators to explore other use cases for data integrations, the B2B financial services market has seen a swath of collaboration between traditional financial institutions and FinTech firms — and between FinTech firms themselves. Though not a new technology, application programming interfaces (APIs) are having a moment in the spotlight, thanks to Open Banking initiatives and their ability to break down data silos in the back office.

Software 121

Software Data Fintech Operations 121

CFPB Monitor

NOVEMBER 18, 2019

The Subcommittee on Consumer Protection and Financial Institutions of the House Financial Services Committee has scheduled a hearing entitled “ An Examination of Regulators’ Efforts to Preserve and Promote Minority Depository Institutions ” on November 20, 2019. In its first hearing on minority depository institutions, the Subcommittee examined the unique challenges facing MDIs and the communities they serve.

FDIC 68

FDIC Regulation Resources Community 68

PYMNTS

NOVEMBER 18, 2019

The People’s Bank of China (PBOC) and the Shanghai Municipal Financial Regulatory Bureau have announced that they will be inspecting companies that conduct cryptocurrency trading, token sales, and distributions of tokens from overseas initial coin offerings (ICOs). Once these businesses are identified, they will be reported and ordered to shut down.

Bitcoin 117

Bitcoin cryptocurrency blockchain Groups 117

Advertisement

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.

Lending

Matt Wilcox Pro

NOVEMBER 18, 2019

At least one astrology website says Libras are cooperative, diplomatic, gracious, fair-minded, and social. Like most zodiac descriptions, it’s broad enough so that just about anyone can say, “Yep, that’s me.” But the other Libra—Facebook’s recently announced cryptocurrency—seems to be garnering a less positive image. Not that Facebook has given up hope.

cryptocurrency 68

cryptocurrency 68

PYMNTS

NOVEMBER 18, 2019

American Express, which has long lagged behind rivals like Visa and Mastercard in terms of business acceptance, has been aggressively pushing to close the gap, offering some businesses thousands of dollars in sign-up fees as well as other incentives, according to a report by The Wall Street Journal. Some payments even approach the half-a-million-dollar range, and can start from under $10,000.

Meeting 113

Meeting Payments Industry Company 113

CB Insights

NOVEMBER 18, 2019

Globally, fintech deals rebounded slightly in Q3’19, but will likely fall short of 2018’s record. This short-fall is due in part to the continued pull back in early-stage investing. Early-stage deals (seed/angel and Series A) fell to an eleven-quarter low, and funding hit a seven-quarter low. In our Q3’ 2019 report, we cover macro trends across global geographies and regions within the United States. .

Fintech 77

Fintech Report United States Regional 77

PYMNTS

NOVEMBER 18, 2019

UPS-owned Ware2Go, which connects merchants with logistics and fulfillment services, is integrating small business financing to the platform through a collaboration with Fundera. In a press release issued on Monday (Nov. 18), Ware2Go said its partnership with the small business online financing marketplace will allow joint merchant customers to access logistics and financing options in the same place, with offerings that include inventory financing, bank loans and commercial credit cards. “

Tools 109

Tools Cards Resources Compliance 109

Advertisement

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.

Compliance