Chris Skinner
OCTOBER 2, 2019
I walked into a grocer’s store the other day. The store was resplendent with fruits of all colours and continents. There were red, yellow and green peppers; carrots, courgettes and cauliflowers; oranges, apples and bananas of both large and small; watermelons, honey melons and mangoes; green grapes, red grapes and … The post Banks are product not customer focused appeared first on Chris Skinner's blog.
Bank Innovation
OCTOBER 2, 2019
To Varo, a digital-only banking startup which has more than 750,000 users, an inclusive user experience is its passport to growth. Varo is looking to other digital-only financial players along with big-tech platforms like Google and Amazon for inspiration. The company’s chief design officer, August de los Reyes, was pulled from that ecosystem, with prior […].
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PYMNTS
OCTOBER 2, 2019
Money transfer company MoneyGram announced that it is expanding its loyalty program to customers in France, Italy, Germany and Spain. “We have seen a positive response and strong adoption rates from our loyalty program in the U.S., resulting in increased customer transaction frequency and retention rates,” Alex Holmes, MoneyGram chairman and CEO, said in a press release.
Bank Innovation
OCTOBER 2, 2019
The advent of social payment platforms like Alipay and WeChat are causing ripple effects within China’s banking sector. In September, Bank of China launched an innovation lab through a contract with IBM to fend off competition from these platforms, which function as hubs for e-commerce, banking and social media. According to Likhit Wagle, general manager […].
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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
OCTOBER 2, 2019
Uber coughed up over $3 billion to get its hands on Dubai’s ride-hailing startup Careem, the Financial Times reported on Wednesday (Oct. 2). Founded in 2012, the ride-hailing unicorn – which is valued at over $1 billion – was the premier tech startup in the Middle East and North Africa. Uber paid $3.1 billion to take ownership. The deal is expected to close in January of 2020.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 2, 2019
Trucking is a difficult and vital job. It’s not only the long, often-lonely hours, but the anxiety — as well as the lost time and money — that comes from inefficient dispatching and last-minute (perhaps unwanted) loads, among other points. Stress can run high for both drivers and trucking companies, especially those still stuck in the analog era, or those with digital capabilities that haven’t advanced in a decade or more.
Bank Innovation
OCTOBER 2, 2019
There are few things more frustrating than being let down by the very technology in which we’ve invested to make our lives and our jobs easier. Financial services, telecommunications, manufacturing and energy lead the list of industries with a high ‘cost of recovery’ and ‘repetitional damage’ for every minute of IT downtime. This ‘cost of […].
South State Correspondent
OCTOBER 2, 2019
The last quarter in the year is typically a suboptimal time to generate commercial loans. Most bankers have met their annual goals factoring the existing pipeline of credits. Furthermore, banks that have not met their goals for the year are likely to price and structure more aggressively, thereby depressing profitable opportunities for more disciplined lenders.
PYMNTS
OCTOBER 2, 2019
Olo has announced that it is integrating its rails platform with Google so that customers can order directly from restaurant brands across Google Search, Maps and Google Assistant. The integration allows Olo’s network of more than 70,000 restaurant brand locations to be enabled on Google’s platforms so that consumers can order directly on Google from Search and Maps.
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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
Payments Source
OCTOBER 2, 2019
Recent reports that counterfeit card fraud is markedly down in the U.S. since the introduction of EMV chip cards in 2015 is fantastic news, except for retailers that also sell goods sells online. In that case fraud has merely moved from an in-store payment attempt to a card not present (CNP) one. For e-commerce only stores the rise in payments fraud attempts has been a deluge.
PYMNTS
OCTOBER 2, 2019
The co-founder of a cryptocurrency hash power broker has been arrested in Germany over charges in the United States that he is one of several hackers who stole millions of dollars. Hard Fork reported that Matjaz Skorjanc, the co-founder of NiceHash, was reportedly taken into custody on Monday (Sept. 30). He is accused of setting up and operating Darkode, a black marketplace that operated between 2008 and 2013, as well as creating and deploying Mariposa, one of the largest botnets.
Payments Source
OCTOBER 2, 2019
The key is that FedNow will provide speed, equal access and an infrastructure that enables the private sector to build cross-platform solutions, says BillGo's Kelly Seidl.
PYMNTS
OCTOBER 2, 2019
Believe it or not, bitcoin is no longer the most used cryptocurrency, with data from CoinMarketCap.com revealing that the token with the highest daily and monthly trading volume is Tether. While its market capitalization is more than 30 times smaller than bitcoin, Tether’s volume has consistently exceeded it since early August at about $21 billion per day.
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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.
Jack Henry
OCTOBER 2, 2019
Do you ever feel like you are caught up in a whirlwind? That happens every so often, when there is so much change that it is challenging to absorb it all. It is hard to know what is meaningful and attention-worthy, and how to distill the important nuggets into strategic decisions that best position you for the near term and beyond. The payments world is experiencing one of those whirlwind periods: fintech innovation, mega-mergers, ramped up competition from non-financial brands, and new payment
PYMNTS
OCTOBER 2, 2019
It’s not exactly high time for legal online gambling yet – that comes in early 2020, with the Super Bowl and then the NCAA college basketball tournament – but the betting season is certainly heating up on more ways than one. And that new fuel comes as the legal online and mobile gambling industry in the U.S. is still in the process of finding a firmer footing.
Payments Source
OCTOBER 2, 2019
The information you need to start your day, from PaymentsSource and around the web. Today: Amazon's supermarket takes shape; Payment companies push India on fraud prevention; NAB boosts digital receipts; Google Pay adds restaurant technology.
PYMNTS
OCTOBER 2, 2019
A new survey suggests that Netflix users won’t jettison the service when new offerings from Apple and Disney launch in the next few weeks, and if anything, users may add multiple services and spend less on traditional TV. CNBC is reporting on a survey by Piper Jaffray, which has a glowing forecast for the streaming service’s stock. The company said that concerns over competitors might not be as serious as initially thought. .
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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
OCTOBER 2, 2019
As cryptocurrency global payment options expand, Ripple wants to assure it stays at the forefront with its XRP token through the creation of a developer platform for third parties that will fuel new products using XRP.
PYMNTS
OCTOBER 2, 2019
As payments giants like Visa and Mastercard shift the innovation spotlight onto B2B transactions, developers of new accounts payable solutions are ushering in a growing trend: designing payment tools not just for the payer, but for the B2B supplier as well. It’s a shift that may have risen out of the B2B payments industry’s commercial card conundrum.
Payments Source
OCTOBER 2, 2019
Amid the fallout from the catastrophic collapse of Carillion last year, the U.K. government has been getting tough on late payments.
PYMNTS
OCTOBER 2, 2019
Getting to the finish line is one thing. But getting a good start is another matter entirely, and that holds true for the all-important issue of healthcare payments. Patients, hospitals and medical services providers that fail to get a good handle on costs, bills and payments at the start of the care process increase the risk that payments will go uncollected, among other problems.
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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
OCTOBER 2, 2019
Facebook is not the only global megabrand tied to the Libra cryptocurrency project, and with a steady drip of rumors about the partners bailing, pressure on Facebook is rising while partners weigh missing out on the initiative’s addressable market.
PYMNTS
OCTOBER 2, 2019
The travel market is changing and companies are evolving to meet consumer expectations. Once upon a time, Airbnb meant renting a cheap room in a stranger’s apartment. With the introduction of its Luxe product earlier this year, Airbnb is now offering stays in Tuscan farmhouses and villas in Bali, a marked step up from couch-surfing. Travel companies are also placing more emphasis on experiences and adventure, which is intended to appeal to millennials who prefer experiences over things.
Payments Source
OCTOBER 2, 2019
Fleet and fuel card company FleetCor is adding to its business lines, a strategy that includes an acquisition of Travelliance that will open a lane into airline lodging program management.
PYMNTS
OCTOBER 2, 2019
With the recent news that some of Libra’s backers are, at least for now, shying from vocal support for the Facebook cryptocurrency project, it’s worth taking stock of Libra’s vital signs. The patient may not be dead, but the breathing is getting a bit labored. Stepping back a bit, headlines on Wednesday (Oct. 2) seem to imply that all proceeds apace.
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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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