Chris Skinner
NOVEMBER 25, 2019
I picked up a few innovative changes taking place this week within banks. In fact, I should point out that banks are not static beasts, as many claim. They are changing all the time, doing things all the time, adapting all the time. The question is: are they adapting in … The post Are banks adapting in the right way? appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 25, 2019
Personal finance, banking and investment platform MoneyLion has named Samantha Roady chief operating officer as it makes moves to expand its customer base. Roady, who has been on MoneyLion’s board of directors since 2016, was previously a founding partner at GAIN Capital and president of its global retail brokerage business. She told Bank Innovation that her […].
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Chris Skinner
NOVEMBER 25, 2019
Things we’re reading today include … Women savers are ‘more loyal to their bank than men’ Bank of America CEO: People still want regulation, security amid tech competition ‘Bank of Mum’ helped fund Prince Andrew’s £13m Swiss chalet Charles Schwab agrees to buy TD Ameritrade for $26bn TSB to close … The post Things worth reading: 26th November 2019 appeared first on Chris Skinner's blog.
Payments Dive
NOVEMBER 25, 2019
Open banking represents a huge opportunity for financial institutions. By creating ecosystems to develop new customer propositions and generate new revenue streams, banks will be better able to compete with third-party players and big tech like Amazon.
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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
NOVEMBER 25, 2019
The Clearing House this month rolled out a data-sharing legal agreement model for banks to use when partnering with third-party technology companies. The draft agreement is intended to streamline the operational implementation of data-sharing arrangements. The template, which The Clearing House calls the Model Agreement, is intended to decrease “screen scraping,” or providing third parties […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 25, 2019
Toronto-Dominion Bank sees “significant value” from Charles Schwab Corp.’s purchase of TD Ameritrade Holding Corp. — but that will only be realized if the Canadian lender opts to unload its minority stake in the combined entity, according to one analyst. Schwab agreed Monday to buy the U.S. discount broker that’s 43% owned by Toronto-Dominion in […].
PYMNTS
NOVEMBER 25, 2019
Sweden-based Detectify, a crowd-based online security company that incentivizes “elite hackers” to help developers stay abreast of security issues, has raised €21 million in a funding round, according to a report. The funding round was led by London-based VC firm Balderton Capital, with participation by Paua Ventures, Insight Partners and Inventure.
Bank Innovation
NOVEMBER 25, 2019
India’s digital payments pioneer Paytm announced new funding from existing shareholders like SoftBank Group Corp.’s Vision Fund and new investors, as competition in the country’s finance sector heats up. Though the company did not disclose details, it raised $1 billion in equity at a $16 billion valuation, according to a person familiar with the matter. […].
PYMNTS
NOVEMBER 25, 2019
This past year has been difficult for Chinese banks, and the country’s central bank, People’s Bank Of China, said that about 13 percent of the country’s financial institutions were considered “high risk,” according to Bloomberg. . People’s Bank Of China ran a report — its 2019 China Financial Stability Report, published on Monday (Nov. 25) — and found that about 586 banks and financial institutions were highly risky, and in need of some sort of change.
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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
Abrigo
NOVEMBER 25, 2019
Key Takeaways A dynamic asset/liability management (ALM) process can inform sound decision-making in both strategy and risk – but not many FIs approach ALM this way. Most FIs outsource their ALM model, rather than using a self-run model. Both have their pros and cons. The majority of FIs report being asset sensitive for earnings and value at risk. Why aren't more FIs using ALM as a decisioning tool?
PYMNTS
NOVEMBER 25, 2019
Nike is offering 3 percent cash back to Apple Card users when a Nike product is purchased using Apple Pay , TechCrunch reported Monday (Nov. 25). The deal applies to all Nike products when purchases are made using the Apple Card through the Nike website, retail stores, Nike Training Club and more. Nike joins Uber/Uber Eats, Walgreens/Duane Reade, and T-Mobile stores in offering the top-tier cash back of 3 percent.
Abrigo
NOVEMBER 25, 2019
Key Takeaways Optimizing loan deal flow involves more than number crunching and processes; don't overlook the human component. Some questions may help identify loan types, industries, and even co-workers who contribute to bottlenecks. Other questions can highlight changes to the work setting that might encourage more efficiency. The human component of optimizing deal flow.
PYMNTS
NOVEMBER 25, 2019
After using their accounts to log into specific Android apps downloaded from the Google Play store, Twitter and Facebook noted that the personal information of hundreds of users might have been accessed improperly. The tech firms received a report from researchers who came across the oneAudience software development kit (SDK) that provided third-party developers with access to personal information, CNBC reported.
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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.
Bank Innovation
NOVEMBER 25, 2019
The startup and venture capital ecosystem may profess to be colorblind, but a look at where funding dollars are going presents a different picture. According to recent research, there have been two quarters since 2009 where the proportion of venture dollars going to female founders exceeded 17%. What’s more, according to RateMyInvestor and DiversityVC, 77.1% […].
PYMNTS
NOVEMBER 25, 2019
Make sure to bring more than your appetite when you dine out in the 2020s, especially at a quick-service restaurant (QSR). You might end up ordering or paying with your face via facial recognition technology. Payments are changing so rapidly that they can sometimes be hard to keep up, and that certainly holds true for QSRs. In a new PYMNTS interview, Andrew Robbins, co-founder and president at Paytronix Systems Inc., discussed the emerging payments coming to the QSR world, and what’s on tap for
Payments Source
NOVEMBER 25, 2019
Grab pays a fine for high fares; VC flows to e-commerce logistics; and other information you need to start your day, from PaymentsSource and around the web.
PYMNTS
NOVEMBER 25, 2019
The wholesale car financing arm of JPMorgan Chase is putting together a plan to finance the creation of a blockchain-based automobile inventory system, The BlockCrypto reported on Friday (Nov. 22). The inventory system would digitize floor plan financing using the company’s patent-pending ledger-based floor planning methods. The plan also aims to bring greater efficiency to the commercial lending process.
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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.
Payments Source
NOVEMBER 25, 2019
Fraudsters have access to vast quantities of personal identifiable information and can look very authentic. Therefore, it is better to diversify and utilize multiple sources of data to help protect your business.
PYMNTS
NOVEMBER 25, 2019
India’s mobile payments startup Paytm said on Monday (Nov. 25) that it secured $1 billion in new funds from Japan’s SoftBank and China’s Alibaba affiliate Ant, The New York Times (NYT) reported, citing a source. The deal values Paytm’s parent company, One97 Communications , at $16 billion. Other investors include Discovery Capital and T. Rowe Price.
Matt Wilcox Pro
NOVEMBER 25, 2019
Well, that didn’t take long. Your Visa credit card is once again welcome at Kroger-owned Food Co and Smith’s Food & Drug stores. Kroger, it seems, was the first to blink. It was only in March of this year that Kroger announced that its 142 food stores and 108 fuel centers operating in seven states under the [.
PYMNTS
NOVEMBER 25, 2019
Amazon Web Services (AWS) announced on Monday (Nov. 25) the launch of Amazon Rekognition Custom Labels, a new feature allowing customers to train their custom model to identify database and inventory items. In a blog post , Anushri Mainthia, senior product manager on the Amazon Rekognition team and product lead for Amazon Rekognition Custom Labels, explained that Rekognition users will be able to train a model using a small set of labeled images to detect items in an inventory without any machin
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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.
Ron Shevelin
NOVEMBER 25, 2019
Google’s “announcement” that it plans to launch a checking account turns out to be a whole pile of nothing.
PYMNTS
NOVEMBER 25, 2019
Shifting away from paper-based accounts payable (AP) practices could be a game-changer for many organizations. AP professionals must first be willing to take the first step to embrace automation, but some firms are wavering over whether they are prepared to do so. Many AP professionals who are holding out on investing in automation are unsure of what kind of return on investment (ROI) these services can offer.
BankBazaar
NOVEMBER 25, 2019
Haven’t quite had a great financial year so far? Fret not. Here’s how you can still end the year on a good note. It isn’t uncommon for a financial plan to not shape up as you might have wanted it to. There are several factors that can contribute to the failure of a financial plan, and there are more than a handful of articles that speak about how you can create a solid financial plan, so let’s set that aside for now.
PYMNTS
NOVEMBER 25, 2019
As data breaches and ransomware hacks escalate, cyber protection is becoming one of the fastest-growing insurance industry sectors, a Financial Times special report indicated. The cyber insurance sector expected to reach a $7.5 billion valuation by the end of the decade, with small medium-sized businesses (SMBs) a rising customer demographic. Following high-profile cyberattacks two years ago at WannaCry and NotPetya , many companies became certain protection was necessary because data breaches a
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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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