Bank Innovation
DECEMBER 3, 2019
When two Irish brothers started Stripe Inc. together in 2010, there was little question about where they should put their headquarters. It had to be California. Now, though, Stripe is leaving the tech mecca of San Francisco, awash in tech talent and investor cash, and is in the process of moving its main office about 10 […].
Payments Dive
DECEMBER 3, 2019
A record holiday shopping performance on Cyber Monday was driven by heavy use of mobile by retailers looking to take advantage of the short holiday season.
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Chris Skinner
DECEMBER 3, 2019
I’ve noted that the bitcoin swings and roundabouts tend to often cycle around the hope and expectation of the US SEC giving approval to a bitcoin ETF … only to find that they never do and so it goes around. In an interesting article by Dave Weisberger on Coindesk, there … The post The Case for a Bitcoin ETF appeared first on Chris Skinner's blog.
Bank Innovation
DECEMBER 3, 2019
Banking technology company Finastra is enhancing the rollout of its customer data strategy as clients face new competition. As part of this effort, the London-based company hired Lisa Fiondella as its first-ever chief data officer in November. Her mandate is to help client banks and institutions use customer data more effectively, allowing them to build […].
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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
Accenture
DECEMBER 3, 2019
Guest bloggers Alex, Devon, Eliza and Reagan – from Accenture’s Emerging Leaders Program – wrap up their two-part series on how a consortium model can help regional retail banks keep up with the tech acquisition capabilities of larger banks. How regional banks can best get the innovation boost and growth value they need from participating…. The post Consortium model for fintech investment: The recipe to play appeared first on Accenture Banking Blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
DECEMBER 3, 2019
Google CEO Sundar Pichai will take over as the new CEO of Alphabet , as well as retain his job at Google, according to a blog post by Founders Larry Page and Sergey Brin. “Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet’s investment in our portfolio of Other Bets,” the post said.
Payments Source
DECEMBER 3, 2019
Piggy banks start to fade; A U.S. citizen is charged with helping North Korea use crypto; and other information you need to start your day, from PaymentsSource and around the web.
PYMNTS
DECEMBER 3, 2019
FinTech firms are aiming to serve the payment needs of marketplaces with technology that helps funds flow both in and out of their accounts — a process that meets many challenges when dealing with so many payment services globally, or even in just one country. Modo , in one case, has filled out a product around checkout, which it calls /checkout, to focus on how money arrives at an organization.
Payments Source
DECEMBER 3, 2019
Paytm and Walmart are each offering credit in India to obtain a competitive advantage in an environment that's typically more welcoming than that of China.
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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
DECEMBER 3, 2019
Robots and artificial intelligence haven’t taken over — yet. But machines still have human-like needs, needs that, when fulfilled, can improve payments and commerce and, according to some, usher in what’s sometimes being called in smart circles a new industrial revolution. The key to that future is emerging 5G mobile network technology. Sure, retailers, healthcare providers and other operations with firm footing in the digital economy are seeking, finding and crafting use cases for 5G, which, ab
Payments Source
DECEMBER 3, 2019
First Horizon Bank has chosen to utilize FIS’ Relationship Rewards white label solution to provide faster rewards payouts that focus on the entire bank-customer relationship and not just individual transactions.
PYMNTS
DECEMBER 3, 2019
Google CEO Sundar Pichai will take over as the new CEO of Alphabet , as well as retain his job at Google, according to a blog post by Founders Larry Page and Sergey Brin. “Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet’s investment in our portfolio of Other Bets,” the post said.
BankBazaar
DECEMBER 3, 2019
Here’s a simple financial checklist to help you easily figure out if you’ve got your financial commitments in place. Read on. Are you on top of your game when it comes to your finances? As we are nearing the end of another year, it is time for us to review our financial standing. Wondering how to go about it? Well, here’s a simple financial checklist to help you easily figure out if you’ve got your financial commitments in place.
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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
DECEMBER 3, 2019
Real “hockey-sticking” ignition is a fairly rare phenomenon. Lots of innovators come to market claiming they’re ready to explosively disrupt the status quo, but the number of products that actually do manage that kind of up-and-to-the-right adoption pattern are far fewer in number. In the recent past, there is probably only one technology that has inarguably shown that kind of adoption pattern: the smartphone.
CFPB Monitor
DECEMBER 3, 2019
As previously reported , the authorization for National Flood Insurance Program was scheduled to expire on November 21, 2019. Congress recently once again extended the Program , this time until December 20, 2019.
PYMNTS
DECEMBER 3, 2019
It’s been a wild ride for payment and merchant services in 2019. Big mergers have changed the landscape, instant and same-day payments are gaining ground, and integrated services and point-of-sale (POS) systems are reshaping transactions and even some business operations. What’s happened in those areas, and what’s to come, was the subject of a recent PYMNTS podcast that featured Karen Webster and Neil Randel, CEO at First American Payment Systems.
Payments Source
DECEMBER 3, 2019
Asia's lone payments association has agreed to work with financial innovators to promote the benefits of an API platform that would serve the continent's payments community.
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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
DECEMBER 3, 2019
Four federal agencies, in conjunction with state bank regulators, clarified the legal status of hemp-related businesses and the applicable edicts under the Bank Secrecy Act (BSA) for financial institutions (FI) offering services to those businesses, the Office of the Comptroller of the Currency (OCC) said in a joint agency press release on Tuesday (Dec. 3).
Payments Source
DECEMBER 3, 2019
The CFPB has promised an equal-access rule for small-business lending for nearly a decade. But Apple’s recent discrimination inquiry into its credit card could force the agency’s hand.
PYMNTS
DECEMBER 3, 2019
Control is one of the hottest topics in the world of payments and financial services — and it seems poised to have a major impact on the world of banking going into the new year and decade. PYMNTS research , in fact, finds that 89 percent of people who use banking apps want more control, especially over things like setting login requirements (93 percent) and adding transaction-specific authentication requirements (87 percent).
ATM Marketplace
DECEMBER 3, 2019
A bitcoin aficionado who goes by the name "21isenough" has created a prototype for a Lightning ATM. The contraption allows you to send tiny amounts of bitcoin over the Internet via the Lightning Network, a second-layer protocol that works on top of bitcoin.
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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
DECEMBER 3, 2019
The We Company , the parent of WeWork , uses a cash-flow metric called the “contribution margin,” which showed that its core services were profitable, Bloomberg Tax reported on Tuesday (Dec. 3). The contribution margin — also used by Lyft and Peloton — ignores fixed and startup costs, and highlights core service revenue. The use of the metric raised red flags from analysts, though, and got the attention of the Securities and Exchange Commission (SEC).
Payments Source
DECEMBER 3, 2019
In some ways, the moves are natural for tech startups with financial ambitions. Despite the growing success of fintech upstarts hailing from San Francisco, Wall Street institutions remain on top of the financial world.
PYMNTS
DECEMBER 3, 2019
The results of a new survey found that most people – around 77 percent – plan on returning some of their gifts this holiday season, according to reports. About 20 percent of those surveyed said they would probably return upwards of 50 percent of their presents. Of those returning gifts, 32 percent said they would use the mail, while 65 percent said they would return in-store.
Payments Source
DECEMBER 3, 2019
Apple has launched its contactless Apple Pay Express Transit Mode, which does not require authentication such as Touch ID, for the Transport for London mass transit services.
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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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