Chris Skinner
JULY 18, 2019
A regular question that comes up is: When will the Fintech bubble burst? My claim is that it won’t under my watch, as this is as big a restructuring of banking and finance as the internet has been for commerce and trade. The latter change is still underway after a … The post FinTech is on fire and London is burning … appeared first on Chris Skinner's blog.
Payments Dive
JULY 18, 2019
Go-Jek has evolved into a super app of sorts. It began as a ride-sharing, but now allows its customers to make online payments for food, groceries and a plethora of other services.
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Bank Innovation
JULY 18, 2019
eBay is pushing forward with efforts to move payments in-house instead of relying on PayPal. The company is taking a staged approach to its payments product launch with the goal to reach full rollout by 2020, a move that will let the company take control of the user experience, grow revenue and reduce overhead costs […].
Payments Dive
JULY 18, 2019
LG officially entered the U.S. market with its own LG Pay mobile wallet app, but faces a historically slow market for adoption and stiff competition from rival apps by Apple, Google and Samsung.
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
Chris Skinner
JULY 18, 2019
Things we’re reading today include … Bank of America CEO on the importance of digital banking Australia’s NAB turns to RBS turnaround man Ross McEwan as CEO The pound’s slide is about more than Brexit Goldman Sachs’ equities-backed earnings results may face pressure Revolut’s growing pains rumble on The future … The post Things worth reading: 19th July 2019 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 18, 2019
The second Payment Services Directive (PSD2) is changing how banks share data and interact with third-party providers and FinTechs, which are now relying on open banking information and application programming interface (API) access to build out new products. The regulation is also altering banks’ end customer interactions as new players make their way to the financial stage.
Bank Innovation
JULY 18, 2019
The GDPR bogeyman is now preoccupying bankers in the U.S. The EU’s General Data Protection Regulation (GDPR), which took effect in May of last year, gives customers the right to know what data institutions keep about them, the right to demand that institutions delete personal data and the right to be forgotten. So far, it’s […].
PYMNTS
JULY 18, 2019
Trust is important for all of payment, commerce and financial services – it is more or less the glue that holds transactions together. Without foundations of trust, no transaction can get off the runway. And when it comes to cross-border transactions, that importance increases exponentially, simply by the nature of that activity. The parties don’t know each other, and are often separated by language and time zone barriers that can make communication a tremendous challenge.
Bank Innovation
JULY 18, 2019
INV Fintech has secured BMO Harris Bank as a member of its accelerator and technology innovation platform, INV announced today. INV Fintech, the sister accelerator to Bank Innovation, fosters innovation through information sharing, relationship building and collaborations between startups and financial institutions. “We look forward to collaborating with BMO as we work with the next generation of innovators,” […].
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
PYMNTS
JULY 18, 2019
TS Eliot wrote: “Between the idea/And the reality/Between the motion/And the act/Falls the shadow.”. The same observation might apply to financial services. Depending on where you look, the chasm yawns wide when it comes to innovating with new technologies or features. In a PYMNTS interview with Karen Webster, Joe DeRosa, EVP of Global Sales at i2c , discussed the findings of the July 2019 Innovation Readiness Playbook , subtitled “Leveling the Playing Field for Different-Sized FIs.
Bank Innovation
JULY 18, 2019
BB&T isn’t worried about losing market share during its pending merger with SunTrust Banks to form Truist Financial, nor is it worried about the combined bank’s name, which has come under no shortage of scrutiny. That’s according to BB&T CEO Kelly King, who will be CEO of Truist once launched. Truist, which will be headquartered […].
PYMNTS
JULY 18, 2019
Data is where it’s at, and more credit unions (CUs) are waking up to the fact that without sophisticated analysis of customer data, they risk being left behind as financial institutions continue to adopt innovative digital technologies to please the modern consumer. The proper use of that data by CUs, in fact, can result in much stronger ties with their members.
Bank Innovation
JULY 18, 2019
BB&T isn’t worried about losing market share during its pending merger with SunTrust Banks to form Truist Financial, nor is it worried about the combined bank’s name, which has come under no shortage of scrutiny. That’s according to BB&T CEO Kelly King, who will be CEO of Truist once launched. Truist, which will be headquartered […].
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.
PYMNTS
JULY 18, 2019
In the quest to streamline B2B processes, and to move beyond the way things have always been done – especially when it comes to managing payments and cash flow – ePayables are gaining traction with financial professionals. As noted in a recent Optimization and ePayables Playbook , more than one-third of businesses are “enthusiastic” about adopting that innovation, with an eye on improving day-to-day operations.
Payments Source
JULY 18, 2019
Blockchain and cryptocurrency innovations threaten to upend mainstream remittance providers, but there are still market gaps that may be best served by a large bank footprint.
PYMNTS
JULY 18, 2019
Online bank N26 is now Germany’s highest-valued startup with a 3.5 billion valuation following a $170 million extension of Series D funding. The mobile bank now ranks among the most valuable European startups as well as being in the top ten most valuable FinTechs worldwide, N26 announced in a press release. All previous investors from the Series D funding round in January 2019 extended their investment in the company, including Peter Thiel’s Valar Ventures, Tencent, and Insight Venture Partners.
Payments Source
JULY 18, 2019
The developer of the internet-connected card Dynamics Inc. will use Sprint’s Curiosity internet-of-things service to power the over-the-air device management and intelligent data capabilities of its Wallet Card.
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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
PYMNTS
JULY 18, 2019
San Jose, California-based eBay is acquiring a 5.5% stake in eCommerce marketplace Paytm Mall in a renewed effort to gain ground in India’s fast-growing retail market. The move will make eBay’s inventory accessible to tens of millions of Paytm Mall active customers in India, eBay announced in a release. “We are deeply committed to India and believe there is huge growth potential and significant opportunity in this dynamic market,” said Jooman Park, eBay senior vice president, APAC.
Payments Source
JULY 18, 2019
Ever since PayPal took control of Venmo as part of its 2013 purchase of Braintree, it has woven Venmo into more and more of its products. Even other acquisitions aren't immune to the spread of Venmo.
CFPB Monitor
JULY 18, 2019
On July 15, the Democratic majority of the House Financial Services Committee introduced draft legislation , titled “Keep Big Tech Out Of Finance Act,” targeting Libra, Facebook’s contemplated new digital currency. As a follow up, during her July 17 opening statement before testimony from a Facebook executive, Chairwoman Maxine Waters expressed serious concerns about Libra and asked Facebook to put it on hold.
ATM Marketplace
JULY 18, 2019
LibertyX, a company that makes software that enables regular ATMs to dispense bitcoin, has partnered with independent ATM operator Desert ATM to add 90 machines to its network in Arizona and Nevada.
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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
CFPB Monitor
JULY 18, 2019
Three more bills dealing with credit reporting were passed on Tuesday by the House Financial Services Committee. Like the four bills passed by the Committee last week , none of the bills passed yesterday received any Republican votes. The bills, which are listed below, would make various amendments to the FCRA, including those described below: The “ Student Borrower Credit Improvement Act.” The bill would prohibit a consumer reporting agency (CRA) from providing a consumer report contain
Payments Source
JULY 18, 2019
Optimizing web sites to be able to accommodate more traffic must be a long-term goal, not only the special days, writes Lex Boost, CEO of Leaseweb USA.
Breaking Banks
JULY 18, 2019
Brett King hosts Bill Nelson, CEO of the Global Resilience Federation (GRF) and Bryan Sartin, Executive Director, Global Security Services at Verizon, talking cybersecurity and the hierarchy of threats that exists in the financial services landscape. Plus, we share a flashback from our 2017 interview with Boris Johnson , currently running for Prime Minister in the UK, sharing what really makes London the financial capital of the world.
Payments Source
JULY 18, 2019
For business payments, financial institutions have the trust advantage over fintechs but are not offering an easier experience, argues Steve Robert, co-founder and CEO of Autobooks.
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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.
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