Tue.Jul 23, 2019

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Sustainable finance for sustainable abundance

Chris Skinner

Talking of Long Finance (see last week’s updates on sustainable finance), there’s some really interesting publications from the group that runs this program, in partnership with the Financial Services Club. This builds on the work of the Long Now. I wrote a long blog about The Long Now almost a decade ago, … The post Sustainable finance for sustainable abundance appeared first on Chris Skinner's blog.

Groups 269
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Why the insurance industry has fallen behind on the digital highway

Payments Dive

Insurance companies face some of the same challenges as incument players in the finance industry, yet have been slow to adopt to the needs of consumers in an increasingly digital-first environmnent.

Industry 268
Insiders

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MoneyLion to use $160m funding to add savings, stock trading products

Bank Innovation

Personal finance app turned challenger bank MoneyLion, which has more than 5 million users, is seeking to lock in customers through a host of new financial services. On Tuesday, the company raised $160 million to build out its platform through a high-yield savings account and stock trading platform, two products that will roll out later […].

Company 186
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Here Is How The Best Banks In Risk Management Talk About Risk

South State Correspondent

RISK MANAGEMENT You can’t be a quality banker unless you have your head straight about risk. For that matter, if you don’t have a clear view and clean language about risk, you really can’t manage risk accurately. Solid risk management starts with having a common and accurate language about risk and the risk you are willing to take. For example, “risk tolerance,” “risk appetite,” “risk target,” “risk capacity” and “risk limit” are often used interchangeably, but they mean different things.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Game on: Investment app Invstr uses Fantasy Finance to build young user base

Bank Innovation

The next generation of stock traders could be coming into the world of investing by way of gaming. Stock trading app Invstr‘s gamified approach to investing is helping it reel in millennial and Gen Z customers. According to founder and CEO Kerim Derhalli, younger generations are eager to learn the investing process and are more […].

More Trending

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Digital lenders aim for small businesses underserved by large banks

Bank Innovation

For small businesses looking to grow, access to capital is critical for success. The obstacle for many of these companies is big banks’ reluctance to approve loan applications from small businesses, particularly since the last recession. According to Biz2Credit, as of May, big bank approvals of small business loan applications sat at just 27.5%.

Capital 170
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Pivoting relationship managers to a new model (Podcast)

Accenture

Faced with advancing digitisation, rising cost pressures and increasing customer expectations, many banks serving small- and medium-sized enterprises (SMEs) are looking to transform to a new relationship management model: one that blends the efficiency and convenience of digital offerings with the “human touch” that many SME customers still crave. The key is knowing when the human connection is important for clients, when it adds value and when they will pay a premium for it—recognising this is

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Game on: Investment app Invstr uses Fantasy Finance to build young user base

Bank Innovation

The next generation of stock traders could be coming into the world of investing by way of gaming. Stock trading app Invstr‘s gamified approach to investing is helping it reel in millennial and Gen Z customers. According to founder and CEO Kerim Derhalli, younger generations are eager to learn the investing process and are more […].

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Swiss Data Watchdog Still Waiting To Hear From Facebook On Libra

PYMNTS

The Swiss Federal Data Protection and Information Commissioner (FDPIC) said it still hasn’t heard from Facebook regarding its supposed oversight of Libra, the social media giant’s proposed cryptocurrency. . The FDPIC said it is still waiting to hear back after it wrote a letter on July 17 asking for more details about the project, Reuters is reporting.

Data 161
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The State of Automation in Financial Services 2024 Report

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

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Digital lenders aim for small businesses underserved by large banks

Bank Innovation

For small businesses looking to grow, access to capital is critical for success. The obstacle for many of these companies is big banks’ reluctance to approve loan applications from small businesses, particularly since the last recession. According to Biz2Credit, as of May, big bank approvals of small business loan applications sat at just 27.5%.

Capital 170
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Tackling Late Supplier Payments From The Buyer’s Perspective

PYMNTS

Cash flow management can be a conundrum for any business, large or small. But when SMB suppliers land a contract with a large corporate buyer, they are often forced to accept whichever payment terms and habits that customer imposes upon the buyer-supplier relationship, and unfortunately, that often means delayed and even late invoice payments for a vendor.

Payments 146
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MoneyLion to use $160m funding to add savings, stock trading products

Bank Innovation

Personal finance app turned challenger bank MoneyLion, which has more than 5 million users, is seeking to lock in customers through a host of new financial services. On Tuesday, the company raised $160 million to build out its platform through a high-yield savings account and stock trading platform, two products that will roll out later […].

Company 170
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Bird Raising New Funding At $2.5 Billion Valuation

PYMNTS

The Santa Monica-based eScooter rental service Bird is being valued at $2.5 billion in a new funding round led by the venture capital firm Sequoia Capital. . The Series D funding round tips Bird’s valuation above the $2.3 billion where it was pegged last year, double the startup’s previous valuation, three people with knowledge of the deal told reporters on Monday (July 22).

Capital 146
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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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Equifax Reaches Historic $575 Million Settlement Agreement Arising from 2017 Data Breach

CFPB Monitor

Equifax has agreed to pay $575 million to settle consumer as well as state and federal regulatory claims for its 2017 data breach. This is the largest data breach settlement to date. 2017 Data Breach. At the federal level, the FTC and CFPB both filed complaints against Equifax. The FTC complaint alleges Equifax was aware of a security vulnerability in a database containing consumer inquiries about their personal credit data.

Data 99
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Mastercard, Nationwide Partner To Serve Britain’s Small Businesses 

PYMNTS

A banking service targeting Britain’s 5.6 million small businesses is being launched by a new Mastercard and Nationwide partnership. . Nationwide is gearing up for the introduction of its business accounts, while Mastercard is planning to roll out debit cards to customers early next year, the companies announced in a joint press release. . Nationwide’s new business proposition has recently benefited from £50m ($62.4 million) in the latest round of funding from the Board of Banking Competition Re

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KYC's getting harder, but it's necessary to avoid an onboarding crisis

Payments Source

New regs force financial institutions to go deeper to stop laundering, but the prize is easier overall enrollment, says NTT Data Services' Edmund Tribue.

Data 102
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US Merchants Can Now Sell On China’s Alibaba

PYMNTS

Chinese eCommerce giant Alibaba Group Holdings Ltd is welcoming small businesses in the U.S. to sell on Alibaba.com. Alibaba is hoping to become the marketplace platform of choice in the U.S. by offering smaller businesses the opportunity to sell globally, Reuters reported on Tuesday (July 23). “You get to compete and act like a multinational company in a way you’ve never had the tools or technology to be able to do,” John Caplan, head of North America B2B at Alibaba Group, tol

US 141
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Payments can't get fast until trust issues are fixed

Payments Source

Whenever we have major industry changes generating uncertainty, it’s usually a safe bet that fraudsters find ways to manipulate the situation before we know how to secure it against them, writes Monica Eaton-Cardone, COO of Chargebacks 911 and CIO of its parent company Global Risk Technologies.

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Powering eCommerce Food Brands With Plants (And Brownie Points)

PYMNTS

Entrepreneurs sometimes start companies to overcome personal culinary challenges: Coconut Whisk CEO and Founder Bella Lam, for instance, discovered it was difficult to find foods that she enjoyed after she became a vegan. One of those items was baking mixes: There wasn’t any product on the shelf that was, say, vegan, gluten-free, soy-free or dairy-free.

Branding 140
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Visa CEO: Libra agreement is “non-binding”

Payments Source

Visa’s decision on how or if it will participate in Facebook’s Libra will be based on how the social network handles the mountain of criticism and requirements that global regulators and lawmakers are heaping upon it.

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Starbucks, Uber Eats To Expand Food, Coffee Delivery Across US

PYMNTS

Starbucks has announced plans to make Starbucks Delivers available throughout the U.S. in early 2020. The coffee giant is continuing its partnership with Uber Eats to expand after launching an 11-market rollout last year. “We are driven to create new and unique digital experiences that are meaningful, valuable and convenient for our customers,” Roz Brewer, group president and chief operating officer for Starbucks, said in a press release.

US 139
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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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Can Starbucks regain mobile payments mojo with new partnership?

Payments Source

Starbucks is looking to reclaim its role as the global leader in streamlined, intuitive order-and-pay systems through machine learning technology it’s developing in-house and through a deal with restaurant-tech startup Brightloom, its new equity investment partner.

Mobile 80
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Retailers Add Adaptive Apparel To Their Brand Offerings

PYMNTS

To make the clothing industry more inclusive of children with disabilities, major fashion brands are debuting adaptive clothing lines. Tommy Hilfiger, Target and Zappos have all launched these types of lines in recent years, while Kohl’s is the latest retailer to do so, CNBC reported. Target brought adaptive apparel to its assortment for toddlers as well as kids with disabilities to its Cat & Jack line in 2017, while Zappos launched Zappos Adaptive the same year.

Branding 139
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Blockchain startups see hope in Libra

Payments Source

Libra and Facebook’s huge impact on the conversation around blockchain and cryptocurrency is giving fuel to other blockchain companies that portray their models as alternatives to Facebook’s controversial plans.

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Scammers Hawking Bogus Libra Currency, Even On Facebook

PYMNTS

Facebook’s Libra has not even officially rolled out, yet there are already fake outlets springing up. The social media giant is now compelled to address a growing number of fabricated exchanges associated with its digital asset, The Washington Post reported on Tuesday (July 23). A growing list of websites, as well as Facebook pages and groups, claim to sell Libra tokens on Facebook and Instagram.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.