Bank Innovation
JANUARY 6, 2020
Pagaya, a fintech firm which uses artificial intelligence to manage institutional money, has topped $1.2 billion in assets under management, on the heels of the close of $200 million in asset-backed securities in December. “We have a team of data scientists and artificial intelligence specialists who are focused on analyzing the millions of data points […].
Abrigo
JANUARY 6, 2020
Key Takeaways The most popular BSA/AML and fraud blog posts in 2019 related to staying on top of regulatory changes. BSA and compliance officers wanted to read about SARs, risks tied to cannabis-related businesses, and preparing for CAMS exams. Regulatory change in focus. Bank Secrecy Act (BSA) and compliance officers at financial institutions in 2019 remained focused on staying on top of all of the regulatory changes occurring in the space, and it showed in the articles on Abrigo’s blog that we
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Bank Innovation
JANUARY 6, 2020
Jack Henry, the banking technology provider that specializes in community and regional banks, is expecting banks to increase their human-digital approaches in 2020. It’s a nod to growing number of community and smaller institutions that see the human element as a differentiator in competing with digital-only startups and well-heeled large companies that are pitching digital-only […].
Chris Skinner
JANUARY 6, 2020
Things we’re reading today include … The rise of the invisible bank Singapore Digital Bank Licenses Draw 21 Applications Few Bank Failures Could Be a Warning Sign for U.S. Financial System Digital Banking Have You Befuddled? Top bosses earn annual wage of average worker by end of today Ex-Barclays banker … The post Things worth reading: 7th January 2020 appeared first on Chris Skinner's blog.
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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 6, 2020
Citigroup Inc. plans to recruit 2,500 programmers this year for the unit that houses its traders and investment bankers, bulking up on coders and data scientists as technology reshapes the business. Roughly three-quarters of the company’s trade orders last year were electronic, according to Stuart Riley, global head of operations and technology for the bank’s […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 6, 2020
Singapore has received “strong interest” in its effort to open up the banking industry to fresh competition after 21 groups made bids for digital licenses, the financial regulator said. A “diverse group” lodged applications, including e-commerce, technology and telecommunications companies, the Monetary Authority of Singapore said in a statement on Tuesday, without identifying the parties. […].
PYMNTS
JANUARY 6, 2020
Ten years ago, the world of payments and commerce was in a very different place. ISOs sold terminals and card processing, mostly to brick-and-mortar merchants. Square was a newbie, largely written off as a wrought-with-fraud business model that would never survive and scale. The Collison brothers had founded Stripe, but it would be a year before it would be in-market.
Bank Innovation
JANUARY 6, 2020
For Eric Byunn, partner at Centana Growth Partners, tech innovation that supports an intuitive and personalized banking experience of the future has room to grow. Byunn will speak at Bank Innovation Ignite in Seattle on March 2-3, on a panel entitled “Embedded Finance: The Automation of Everything Financial.” He will explore the evolution of product […].
PYMNTS
JANUARY 6, 2020
A typical episode of TLC’s “Say Yes To The Dress” can offer one the basic sketch of the drama that is buying a wedding dress. Though the details change somewhat episode to episode, the story pretty much always follows the same arc: The bridal party enters, the bride explains her vision, dresses are tried on, fights break out, bitter tears are shed, the right dress is found, the price tag is seen, more bitter tears are shed, the bride says yes to the dress and everyone drinks champagne by minute
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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
Ron Shevelin
JANUARY 6, 2020
What are moats? Did banks ever have them? Are fintech startups really building them? And are moats even worth building in today’s environment?
PYMNTS
JANUARY 6, 2020
To supply pizza delivery services from 3,600 restaurants in Canada and the United States, Little Caesars Enterprises Inc. will team with DoorDash Inc. Little Caesars, which is said to be the third-biggest pizza chain in the world, had never offered delivery until now, Reuters reported. The quick-service chain will not require customers to make minimum purchases to receive deals and will not restrict discounts to carry-out orders.
Payments Source
JANUARY 6, 2020
The economic outlook for the next year has been a moving target, but business payment companies are certain organizations are losing patience with the speed of transactions.
PYMNTS
JANUARY 6, 2020
PayPal has completed a $4 billion deal — its largest to date — to acquire the shopping rewards platform Honey Science Corporation , PayPal announced Monday (Jan. 6). With Honey, PayPal is striving to revamp the shopping journey for its customers while upping eCommerce sales and shopper engagement for its merchants. Founded in 2012, Honey has grown from an eCommerce price-tracking tool to an expanded suite of services that include a shopping assistant and rewards program.
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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.
Bobsguide
JANUARY 6, 2020
“The only thing worse than training your employees and having them leave, is not training them and having them stay,” said Henry Ford, founder of the Ford Motor Company. The financial landscape is shifting at a rapid rate, barely recognisable from half a decade to the next, so.
PYMNTS
JANUARY 6, 2020
At the onset of Industry 4.0 , the drive toward supply chain digitization is fueling massive investments in Internet of Things (IoT), smart sensors and connected devices. The technology is often considered a game-changer for supply chain management and logistics operations, able to both elevate the efficiency of operations while connecting corporates to real-time data for deep business intelligence and analytics.
Banking Exchange
JANUARY 6, 2020
Now offering their institutional clients real-time settlements for digital trades without transaction fees Technology Lines of Business Financial Trends Management Customers Online Commercial Blockchain Feature3 Feature.
PYMNTS
JANUARY 6, 2020
ExxonMobil and Fiserv have teamed up to let people pay for gas with Alexa at the pump, according to a release. People with cars that are Alexa-enabled, or who use Echo Auto or other Alexa-enabled devices, will simply be able to say “Alexa, pay for gas” when they go to fill up. The new service is expected to roll out at more than 11,500 Exxon and Mobil gas stations around the country later this year.
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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.
CFPB Monitor
JANUARY 6, 2020
The House Financial Services Committee has announced that it will hold the following hearings this month: On January 14, the Subcommittee on Consumer Protection and Financial Institutions will hold a hearing entitled, “The Community Reinvestment Act: Reviewing Who Wins and Who Loses with Comptroller Otting’s Proposal.” (On January 29, from 12 p.m. to 1 p.m.
PYMNTS
JANUARY 6, 2020
A newly revealed massive leak by defunct data firm Cambridge Analytica has been exposed via internal documents, showing voter manipulation in at least 68 countries, according to reports on Monday (Jan. 6), citing former Cambridge Analytica employee and self-proclaimed whistleblower Brittany Kaiser. Cambridge Analytica and its parent company, SCL Elections, first made international headlines when it was discovered in 2018 that Cambridge Analytica stole information on some 87 million Facebook user
Matt Wilcox Pro
JANUARY 6, 2020
Some thieves take on smart ATMs with high tech gadgetry. Others, you could say, have a shorter fuse. The United States Department of Justice recently sent notifications to 2,000 residents in my home state of Utah. Recipients are presumed victims of one Alexandru Cosmin Licsor, freshly extradited from Romania. The purpose of the letter was to inform [.
PYMNTS
JANUARY 6, 2020
Celebrity Gwyneth Paltrow’s company Goop , an array of lifestyle products and more, will partner with Sephora in 2020. “I’ve always thought of Sephora as a real innovator in the beauty space,” Paltrow told CNBC on Monday (Jan. 6). “We’ve been wrestling with the idea of if we should have a wholesale partner or if we should keep it all direct-to-consumer.
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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.
Payments Source
JANUARY 6, 2020
Amazon is starting the new year with a major payment technology deployment at more than 11,500 gas stations, providing the e-commerce giant with an added leg to its rapidly expanding payments network ranging from checkout-free stores to Whole Foods to its own planned grocery chain.
PYMNTS
JANUARY 6, 2020
Consumers have become accustomed to being offered insurance coverage with their purchases of electronics, home appliances and other big-ticket items from brick-and-mortar retail locations. Insurance provides a financial fallback in case the purchases break or prove defective, saving consumers from wasting large portions of their hard-earned cash. But what would consumers think about being offered insurance coverage for eCommerce purchases and how would it affect spending habits?
Payments Source
JANUARY 6, 2020
More groups said they submitted bids for digital banking licenses in Singapore as companies, ranging from a property giant to Chinese fintech firms, joined forces to go for the sought-after permits.
PYMNTS
JANUARY 6, 2020
The highly anticipated American Dream Mall (ADM) in New Jersey will hold its last opening day celebration in March with almost 100 percent of its 3.3 million square feet fully leased out to retail, food and entertainment tenants, Bloomberg reported on Monday (Jan. 6). . The mall’s third developer, the Triple Five Group of Canada, held three partial openings — Oct. 25 with Nickelodeon Universe and an ice skating rink; Nov. 27 with Dreamworks Water Park; and Dec. 5 with the indoor ski and snowboar
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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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