Payments Dive
SEPTEMBER 27, 2019
Banks have been in the transactional business for far too long, says Jeremy Balkin, head of Innovation at HSBC Bank USA. "We are in the financial services business; service is an experience — and that's not easy for banks to wrap their heads around.
Bank Innovation
SEPTEMBER 27, 2019
New York City-based business banking startup Novo is growing its partnership model to attract and retain customers. This week, digital-only Novo integrated with money transfer service TransferWise to allow its clients to send money across borders through Novo’s mobile banking platform. To Novo, which was founded in 2016 and so far has signed on “a […].
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PYMNTS
SEPTEMBER 27, 2019
This week, along with Amazon’s announcement about new Echo devices and Alexa’s celebrity voices, came news of Amazon Sidewalk , a new wireless protocol that uses low bandwidth to extend the distance at which IoT devices can be controlled and requires less power than Wi-Fi. This seemingly small move signals Amazon’s faith in the growth of the Internet of Things (IoT), however.
Bank Innovation
SEPTEMBER 27, 2019
JPMorgan Chase this week announced a $25 million commitment to tech tools that help underserved consumers. The contribution will go towards the nonprofit Financial Health Network’s Financial Solutions Lab, a development program that supports fintech startups that help consumers save money, reduce debt and meet long-term financial goals. According to the Financial Health Network, the […].
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
SEPTEMBER 27, 2019
Crypto startup RSK will buy Spanish social media network Taringa in a bid to expand and to gain access to the platform’s 20 million users, according to a report by Forbes. RSK, a subsidiary of IOVLabs, is self-described as the “first open-source, smart contract platform secured by the bitcoin network.”. The partnership will encourage Taringa users to share content and receive cryptocurrency rewards in return.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
SEPTEMBER 27, 2019
As WeWork looks to reduce its costs and refocus, the co-working company’s two new co-CEOs reportedly committed in a message to workers to “strengthen our core business” following the ouster of Chief Executive Officer Adam Neumann. That process began by selling Neumann’s private airplane, Bloomberg reported. We Co., WeWork’s parent, is selling the Gulfstream G650 that the company purchased in 2018 for Neumann’s use for meetings as well as travel per an unnamed source in the report.
Bank Innovation
SEPTEMBER 27, 2019
Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, September 27, 2019. In this episode, Suman Bhattacharyya, deputy editor, and Rick Morgan, associate editor, discuss the following news developments: How large banks like Wells Fargo and U.S. Bank are integrating with data aggregators to allow third-party apps to securely […].
PYMNTS
SEPTEMBER 27, 2019
Unilever has revealed that its sales on Amazon are only a small piece of its pie since most of its products sold on the website are priced below $10. “People are surprised that our Amazon business is only a couple of hundred million,” Unilever Chief Financial Officer Graeme Pitkethly said at the Bernstein conference in London, according to Reuters. He noted that his company generated less than 200 million pounds ($246.32 million) in sales from the eCommerce giant last year.
Bank Innovation
SEPTEMBER 27, 2019
Wells Fargo named Charles Scharf chief executive officer, marking a new era in the bank’s efforts to turn itself around after a series of scandals claimed two previous CEOs in the past three years. Scharf, the CEO of BNY Mellon, will take over on Oct. 21, replacing interim chief Allen Parker, the San Francisco-based bank […].
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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
SEPTEMBER 27, 2019
The association meant to manage and handle the debut of Facebook’s proposed cryptocurrency Libra has been dealing with some setbacks involving its acceptance, especially from Germany and France, who say they won’t allow the currency to move forward. Reuters is reporting that despite the opposition, the association is still talking to European Union regulators in an attempt to release the currency by next year.
Payments Source
SEPTEMBER 27, 2019
In the payments world, Scharf is best known as the CEO of Visa Inc. from 2012 to 2016, where his strategies for faster payments, fintech partnerships and other key issues may shed light on what Scharf has planned when he becomes CEO of Wells Fargo.
PYMNTS
SEPTEMBER 27, 2019
A summer lull in B2B venture capital appears to have given way to an impressive start to the fall season. This week, two massive deals landed with B2B payments innovators at Fundbox and Tipalti, but they were far from the only players to have secured new funding. Below, PYMNTS breaks down how more than $420 million in funding landed with B2B startups.
Payments Source
SEPTEMBER 27, 2019
Visa is leaning more heavily on its Issuers’ Clearinghouse Service to help banks combat the rise of synthetic fraud, which it attributes in part to a security measure adopted by the Social Security Administration years ago.
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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
SEPTEMBER 27, 2019
To bolster its subscription business, San-Francisco-based Recurly has notched $19.5 million in funding led by F-Prime Capital along with participation from Polaris Partners, Silicon Valley Bank and Greycroft. The new funding brings its total raise to almost $40 million after raises in the past totaling $19.6 million, VentureBeat reported. “The subscription commerce market is undergoing a dramatic shift as consumer purchasing behaviors are quickly evolving to expect flexible, pay-as-you-go models
Payments Source
SEPTEMBER 27, 2019
The information you need to start your day, from PaymentsSource and around the web. Today: Uber's new loyalty; Ant and Monsanto team on blockchain; McKinsey opens demonstration store in the Mall of America; U.K. improves breach fight.
PYMNTS
SEPTEMBER 27, 2019
It’s not easy to stay caught up with the payments and commerce landscape when it seems to make big changes by the hour, but the price of failing to do so can be quite high – as illustrated by the drama at eBay this week. But beyond the big examples, there is plenty of evidence that the race goes to the swift, particularly when it comes to embracing data tech to make transactions both more secure and more seamless for consumers and businesses.
Payments Source
SEPTEMBER 27, 2019
Congress should consider acting quickly or companies could treat the Golden State's new data privacy restrictions as a national standard.
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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
SEPTEMBER 27, 2019
Criticism of the world’s correspondent banking network continues to mount — and at the same time, the number of correspondent banking relationships is on the decline. The Financial Stability Board released analysis last year that found SWIFT interbank payment messages reflected a 4.1 percent decline in correspondent banking activity in 2017. A look at Deutsche Bank offers the industry a glimpse into at least some of the forces behind this shift.
Payments Source
SEPTEMBER 27, 2019
Charlie Scharf’s most immediate priorities will be mending fences with regulators and getting the bank out from under a Fed-imposed asset cap. But he also must come up with strategies for spurring revenue growth and reining in expenses.
PYMNTS
SEPTEMBER 27, 2019
As New York City ’s vacancy rate has skyrocketed by nearly 50 percent, a report released by City Comptroller Scott Stringer showed that the amount of empty retail space in the city has doubled in the last 10 years or so. The vacancy rate reached a high of 5.8 percent in 2017, up from 4 percent in 2007, according to Retail Dive. Stringer noted that eCommerce – or what he dubs “ the Amazon effect ” – has been a significant contributor to the situation.
Payments Source
SEPTEMBER 27, 2019
Scharf next month will become the fourth leader at Wells Fargo in three years. Meanwhile, Bank of New York Mellon has named Thomas P. "Todd" Gibbons as acting chief executive.
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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.
PYMNTS
SEPTEMBER 27, 2019
The sharing economy continues to grow and expand as it takes on a heavier load of digital payment and commerce. In fact, it is now reaching into places that can be considered forms of childhood paradise, underscoring the scope and appeal of this business model. The latest evidence comes from a company called Swimply , which offers to help consumers “find beautiful pools near you.
BankBazaar
SEPTEMBER 27, 2019
What is a pre-approved Personal Loan offer? Should you avail this offer? We’ll be answering these and more in this article. If you’ve ever shopped for a Personal Loan , it is likely that you’d have come across pre-approved offers. We’re certain that most of you are aware of what exactly a pre-approved Personal Loan is. However, if you aren’t or you only have a vague idea about this, then this article is a must-read for you.
PYMNTS
SEPTEMBER 27, 2019
Mark Cliffe, chief economist at Dutch financial service firm ING, said central banks around the globe will have “fully fledged” cryptocurrencies in a matter of just two to three years, according to reports. . Cliffe said Facebook’s Libra has lit a fire under banks around the world in terms of the need to stay ahead of the curve in this new wave of digital currencies.
ATM Marketplace
SEPTEMBER 27, 2019
In this ATM Marketplace podcast, host Suzanne Cluckey talks to David Tente, ATMIA's executive director, USA and Americas, to get his thoughts on the future of cash and what it means for the ATM industry.
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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.
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