Bank Innovation
DECEMBER 18, 2019
Truecaller, one of the world’s largest caller-identification system, is trialing financial service products ahead of a possible stock-exchange listing. This year, the Swedish company started a pilot program to provide credit to small business owners in India and will begin offering the service to some of its 140 million users in the country early next […].
Chris Skinner
DECEMBER 18, 2019
At the end of every year I list the top 10 blog posts from The Finanser, to show what’s been of most interest. Bearing in mind there are over 200 posts a year, these are the ones that really stand out. Like most years, this year’s list includes three guest … The post The Eleven Things That Stood Out In 2019 appeared first on Chris Skinner's blog.
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Bank Innovation
DECEMBER 18, 2019
As large tech and payments companies bail on Facebook’s Libra digital currency project, Federal Reserve Governor Lael Brainard Wednesday highlighted key risks that have yet to be mitigated, including the safety and security of consumer money flowing through Libra’s transaction rails. Speaking in Frankfurt at a conference hosted by the European Central Bank, Brainard noted […].
Chris Skinner
DECEMBER 18, 2019
Things we’re reading today include … The European Central Bank’s found a way to keep the digital euro private YouTube’s top earners: Eight-year-old Ryan tops list with $26m UK banks and insurers to be tested on climate crisis response plans French farmers’ favourite makes hay in investment banking ‘Time to … The post Things worth reading: 19th December 2019 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
DECEMBER 18, 2019
With its 227-year history, State Street is pushing ahead on its digital assets strategy. This week, the bank launched a digital asset pilot to allow clients to consolidate the reporting of their digital assets serviced by Gemini, an independent digital asset custodian, with their traditional assets serviced by State Street. “[Clients] will have the custodian […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bobsguide
DECEMBER 18, 2019
Early year studies from Deloitte and McKinsey cited 2019 as the year for insurance firms to embrace new partnerships and join in the tech revolution.
PYMNTS
DECEMBER 18, 2019
Digital payments company Payrailz is teaming with Mastercard to launch a pilot of the Mastercard Bill Pay Exchange, a real-time payment solution that works directly with digital banking apps, Payrailz said in a press release on Wednesday (Dec. 18). The goal is to offer users an easy way to view, manage and pay bills. The pilot will integrate the Payrailz Smart Payments Platform with Mastercard Bill Pay Exchange , which will give customers a centralized and streamlined solution to access bills th
Tom Groenfeldt
DECEMBER 18, 2019
In a recent survey of Americans, Fidelity Investments found that while Americans are optimistic about their finances in 2020, they also plan to reduce personal debt and save more.
PYMNTS
DECEMBER 18, 2019
Singles Day started quite humbly. Before it was an international shopping festival raking in just under $50 billion in sales in a single day, it was an informal holiday in China , seen as an alternative to Valentine’s Day for single college students. But a decade ago, Alibaba decided to turn Singles Day from an informal Nov. 11 holiday celebrated on college campuses into an event — specifically, a shopping event modeled after Black Friday in the U.S.
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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
DECEMBER 18, 2019
Coinbase adds crypto donation tech; FCA may add to open banking ; and other information you need to start your day, from PaymentsSource and around the web.
PYMNTS
DECEMBER 18, 2019
What do the biggest, most successful merchant service providers (MSPs) concur is the key to their collective future? PYMNTS got that answer, among others, in our just-published The Key To Optimizing Merchant Services Report , done in collaboration with technology firm Endava. . The answer to that cliff-hanger opener, incidentally, is value-added services (VAS) — the growing assortment of benefits that MSPs provide to their merchant clients.
Ron Shevelin
DECEMBER 18, 2019
Analysis of the recent flap between PNC and Venmo is misguided. This is a risky battle, however, that may have unintended consequences.
PYMNTS
DECEMBER 18, 2019
Checks are continuing their fall from grace, but instant payments still have not risen to take the disbursements crown quite yet. The two payment methods are meeting somewhere in the middle, with check disbursements still common enough that they cannot be ignored. Both consumers and businesses appear to have a much higher preference for digital disbursement tools, however.
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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.
Payments Source
DECEMBER 18, 2019
Payrailz, a payments startup launched that leverages AI to streamline bill payments and money transfers, will integrate its platform with Mastercard Bill Pay Exchange to explore ways to enhance the consumer bill payment experience.
PYMNTS
DECEMBER 18, 2019
And now introducing: Uber Works in Miami. The ride-hailing giant is extending its relatively new service that leverages the marketplace model to connect buyers and sellers, according to reports. As the name implies, this time around the focus is on work, where the buyers are employers and the sellers are temporary workers. The launch into Miami represents the second city where Uber Works takes root, after Chicago, two months ago.
Payments Source
DECEMBER 18, 2019
Cybercrime has become harder to fight as it becomes more sophisticated. Criminals have deployed technology that can infiltrate a consumer's personal computer and copy parts of the underlying hardware and mimic typing speed, style and other computer habits of the user.
PYMNTS
DECEMBER 18, 2019
The United Kingdom will create a technology regulator next year after Brexit is completed, according to a report by the Financial Times. The regulator will police companies like Facebook and Google , and will have the authority to enforce new rules meant to curb anti-competition issues and to protect consumer data from being used and sold without permission.
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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
DECEMBER 18, 2019
The Federal Reserve’s Lael Brainard this week tossed fresh regulatory pressure on Facebook’s Libra cryptocurrency project, comments that come as central banks around the world work on digital currencies to counter the social network’s cryptocurrency project.
PYMNTS
DECEMBER 18, 2019
Supply chain FinTech startup Tradeshift is cutting cross-border supplier-buyer transaction fees by tapping the public Ethereum blockchain, Tradeshift said in a press release on Wednesday (Dec. 18). Launched in 2015, the startup is an innovation division of Goldman Sachs and has two million firms on its platform. Flow tokens – also known as tokenized IOUs – “can do for supply chain management and trade finance what Libra has been attempting to do at a consumer level with wallets and stablecoins,”
ABA Community Banking
DECEMBER 18, 2019
You spend a third of your life at work, says Jeremy Callais. "You can teach someone how to do banking. We hire people who we want to spend a third of our lives with. We tend to think that the customers like to bank with those people too.". The post Podcast: Bankers You’d Like to Spend a Third of Your Life With appeared first on ABA Banking Journal.
PYMNTS
DECEMBER 18, 2019
A Swedish regulator has opened an investigation into SEB, one of Sweden’s largest banks, over an increasingly volatile money-laundering scandal that has adversely affected the reputation of the region’s banking industry, according to a report by the Financial Times. The probe is being done by the Swedish financial supervisory authority, and on Wednesday (Dec. 18), the organization said it was looking into how the bank handled money laundering monitoring and how strong its anti-money
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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
DECEMBER 18, 2019
Grab Holdings Inc. and gaming company Razer Inc. will need to demonstrate how their millions of users can help them generate profits if the two technology firms are to win one of Singapore’s coveted virtual banking licenses.
PYMNTS
DECEMBER 18, 2019
Lendo , a peer-to-peer (P2P) lending marketplace for small- and medium-sized businesses (SMBs), wants to help them pre-finance their invoices so they can potentially get paid faster, according to a report. The company is doing its business as an alternative to regular short-term finance by borrowing money against outstanding invoices. The company allows for solutions to some of the biggest problems when it comes to the SMB financing market.
Payments Source
DECEMBER 18, 2019
While Google can certainly be trusted to create an engaging mobile interface, trust in banking goes deeper than a good digital experience, says myGini's Mehmet Sezgin.
PYMNTS
DECEMBER 18, 2019
The biggest shopping day of the year, despite the shorter holiday shopping season, will be the Saturday before Christmas, according to a report by Reuters. Recent years have shown there’s usually a surge in purchases and shopper traffic on what is being called “Super Saturday,” and sales on that day have been shown to be similar to Black Friday, which is traditionally the start of the holiday shopping season.
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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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