Chris Skinner
FEBRUARY 18, 2020
I bumped into a real API marketplace the other day. Just what I’ve been looking for … … but not sure why they’re opening physical stores pic.twitter.com/NaUUiyQ4lK — Chris Skinner (@Chris_Skinner) February 17, 2020 It gained a few nice comments like: “So people could stock up on spaghetti code and … The post If you’re API and you know it, block aggregators appeared first on Chris Skinner's blog.
Payments Dive
FEBRUARY 18, 2020
The London-based bank will slash 35,000 jobs worldwide, shift much of its focus to Asia and close a large number of U.S. branches, as part of a major restructuring of its global operations.
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Chris Skinner
FEBRUARY 18, 2020
Things we’re reading today include … HSBC to slash investment bank, 35,000 jobs in strategy overhaul What’s gone wrong at HSBC? The humbling of Goldman Sachs Regular savers tempted with cash prizes UK climbs ranking of tax havens, campaign group warns UK’s cash system ‘will collapse without new laws’ The post Things worth reading: 19th February 2020 appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 18, 2020
The Dow Chemical Employees’ Credit Union, which has 68,000 members around the globe and only one branch, is using in-app messaging to more efficiently reach members. “We can now reach out to [members] in a secure fashion without them having to contact us first,” COO Art Peters said. “We know when we get a message […].
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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
Accenture
FEBRUARY 18, 2020
Guest bloggers Richard Gillespie-Brown, Helen Bayliss and Nicholas Kitson explain how a bank’s centre of excellence can unlock customer and colleague value by overcoming hurdles to automating digital processes. During our frequent conversations with banking clients about automating their digital processes, we’ve found that many of them are struggling to scale up from proofs of….
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
FEBRUARY 18, 2020
Bright lights, big (and small) cities and Big Data. In the drive to modernize, scale and handle burgeoning populations, cities are harnessing the power of data collection and analytics to improve infrastructure and services. As Mastercard Executive Vice President of Enterprise Partnerships and Head of Global Cities Miguel Gamiño told Karen Webster, it’s an endeavor that demands a long-term view and collaboration.
Bank Innovation
FEBRUARY 18, 2020
HSBC, a global bank with $2.7 trillion in assets, is blazing a new path for its U.S. business as it cuts $4.5 billion in costs and reallocates capital away from underperforming units. The top-10 global bank reported Tuesday that in 2019, net profit fell 53% to $6 billion, while pre-tax profits fell 33% to $13.3 […].
PYMNTS
FEBRUARY 18, 2020
FinTech LendingClub is purchasing Radius Bancorp for $185 million in cash and stock, according to a report by CNBC. LendingClub provides personal lending online, and it wants access to funding that is more stable and not as expensive. Radius is based in Boston and has in the neighborhood of $1.4 billion in assets. The bank is one of a few smaller lenders that has teamed up with FinTechs who need services only an FDIC-regulated institution can provide.
Bank Innovation
FEBRUARY 18, 2020
Alternative investment platform YieldStreet Tuesday launched the YieldStreet Prism Fund, a closed end fund sub-advised by BlackRock. The fund offers customers a new investment option alongside other nontraditional asset classes, including real estate, shipping, marine finance, art finance and commercial loans. YieldStreet CEO Milind Mehere told Bank Innovation the product was launched in response to […].
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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
FEBRUARY 18, 2020
Quick service restaurants (QSRs) are trimming store sizes and shifting priorities onto fulfilling digital orders as quickly and smoothly as possible. Staff can better focus on preparing meals for pickup and delivery when they do not also have to spend much time on face-to-face interactions with in-store customers. Some operations like Chipotle are even rolling out store designs that feature pick-up windows to let order-ahead diners collect their items without having to enter the restaurant.
Matt Wilcox Pro
FEBRUARY 18, 2020
Crazy humans. Seems like we’re never satisfied. If you don’t believe me, ask Abraham Maslow. According to his Hierarchy of Needs, which hardly needs introduction, as soon as we satisfy basic needs like air, water, and food, we up our expectations to things like security, revenue, health, and possessions. From there we seek friendship and belonging. [.
PYMNTS
FEBRUARY 18, 2020
The PSCU company Lumin Digital has signed Bartlett, Tennessee-based First South Financial credit union to a multi-year digital banking and cloud computing agreement, Lumin announced on Tuesday (Feb. 18). First South will use Lumin Digital’s cloud-based platform as the digital solution for its 25,000 active retail and business banking and bill pay users.
Payments Source
FEBRUARY 18, 2020
The more turmoil a region's currency or financial networks endure, the more appealing an economy driven by crypto tokens and an ability to convert those to domestic currencies becomes.
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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
FEBRUARY 18, 2020
With a move that could change how shoppers buy merchandise, IKEA is allowing consumers to essentially pay with their time. IKEA Dubai is launching a campaign that will let shoppers use their time as currency by showing their Google Maps timeline to checkout workers to show how long it took them to travel to IKEA stores, Forbes reported. “Before the birth of this campaign, we realized two things: time is precious today, and many loyal IKEA customers spend a significant chunk of it visiting
ABA Community Banking
FEBRUARY 18, 2020
ABA’s advocacy successes in recent years are laying the groundwork for a return to bipartisanship on banking issues. The post Keeping Banking Bipartisan in 2020 appeared first on ABA Banking Journal.
PYMNTS
FEBRUARY 18, 2020
Europe’s biggest bank by assets, HSBC , is slashing 35,000 jobs and $100 billion in assets as it moves to streamline business functions in the U.S., mainland Europe and its investment bank, the Wall Street Journal (WSJ) reported on Tuesday (Feb. 18). At the same time, HSBC is moving to grow profits by investing in Asia and the Middle East, both rapidly-growing regions.
Payments Source
FEBRUARY 18, 2020
Fiserv completed a PIN on Mobile transaction using only an app on a consumer grade handset, and plans to pilot the technology in Europe and Asia.
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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.
PYMNTS
FEBRUARY 18, 2020
Homebuilders in America received so many orders for houses last month that the market experienced a January surge it hasn’t seen in years, according to a report by Bloomberg. Home sales surged 34 percent in January, reaching the highest point for January since 2012, according to a survey by John Burns Real Estate Consulting. Sales have been steadily rising, and they peaked in November of last year.
ATM Marketplace
FEBRUARY 18, 2020
A pair of lawsuits against Compass Group USA seek damages over the way the company collects and stores biometric information from fingerprint readers on certain vending machines.
PYMNTS
FEBRUARY 18, 2020
Digital banking and payments firm i2c is partnering with FinTech healthcare credit card SmartHealth PayCard , i2c announced on Tuesday (Feb. 18). SmartHealth PayCard is enabled with the agile processing of i2c and is offering the first healthcare-only credit card. The card is intended to help people manage high co-pays, high deductibles and expensive emergencies.
Payments Source
FEBRUARY 18, 2020
As faster payments change how quickly companies get paid, these same organizations are looking to add speed to the way they manage internal expenses.
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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.
PYMNTS
FEBRUARY 18, 2020
Software development company Credify, based in Singapore, has raised $1 million in a seed funding round from SoftBank-backed artificial intelligence (AI) incubator Deepcore, as well as Beenext, according to a report. Credify, which was founded in 2019, said it plans to use the money to expand further into Southeast Asia , to continue with product development and to push forward with live client engagements.
CB Insights
FEBRUARY 18, 2020
2019 saw fintech reach an inflection point on a global scale, pulling in $34.5B across 1,913 deals. REPORT HIGHLIGHTS: Q4’19 saw approximately $9.4B invested across 452 deals. Funding saw a boost from mega-rounds ($100M+) including a $1.7B investment to India-based One97, which was the top deal in Q4’19. Fintech startups are maturing beyond early stages.
PYMNTS
FEBRUARY 18, 2020
In the battle against fraudsters, financial institutions (FIs) must start at the beginning – literally. FIs are increasingly vulnerable as they race to become digital – and omnichannel – in a bid to offer customers as much choice as possible. This opens the door to new avenues of attack by those who wish to steal data, hijack accounts and make off with ill-gotten gains, as Eric Kraus, vice president of risk, fraud and compliance at FIS , told PYMNTS in a recent interview.
CFPB Monitor
FEBRUARY 18, 2020
The CFPB has released the Winter 2020 edition of its Supervisory Highlights. The report discusses the Bureau’s examinations findings in the areas of debt collection, mortgage servicing, payday lending, and student loan servicing that were completed between April 2019 and August 2019. Key findings include the following: Debt collection. One or more debt collectors were found to have violated the FDCPA requirements to (1) disclose in communications subsequent to the initial written communication
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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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