Mon.Dec 09, 2019

Trust in UK startup banks growing among all age categories, data shows

Bank Innovation

The notion that customers don’t trust non-legacy banking brands is starting to fade, at least in the U.K. A study from consultancy A.T. Kearney released this month entitled “How Convenience, Innovation, and Trust Will Shape Tomorrow’s Banking,” noted that while U.K.

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Do users care about their data?

Chris Skinner

A further discussion about data and the key issue of who should have access. During a recent lunch, we talked about how Chinese citizens allow the government to see all of their digital footprint via Tencent and Alibaba, but they do this for a number of reasons.

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Bank Innovation Ignite to focus on digital customer journey

Bank Innovation

The business of banking is reaching a critical inflection point as ‘challengers’ take market share and incumbents implement strategies to accelerate their digital transformation efforts to enhance customer journeys.

How Your Customers Want to Communicate With Your Bank

Banker to Banker

Since your bank's primary value proposition is service and you are likely striving for a superior customer experience, then it would make sense that the first stop you should make is to improve your ability to communicate with the customer.

Intelligent Process Automation: Boosting Bots with AI and Machine Learning

Across all sectors, companies are learning that they can transform their businesses by embracing Intelligent Process Automation, or IPA. With the pairing of AI and RPA, IPA adds a new layer of intelligent decision-making processes to automated RPA tasks. By automating repetitive work, and adding the ability to automate intelligent decision making, intelligent automation frees up your most valuable resources – your employees – to spend more time on higher value and more strategic work. But in order to reap the rewards of Intelligent Process Automation, organizations must first educate themselves and prepare for the adoption of IPA. In our ebook, Intelligent Process Automation: Boosting Bots with AI and Machine Learning.

Banks facing data crisis may need political help, Denmark warns

Bank Innovation

First there was the financial crisis of 2008. Then years of negative interest rates. Now, banks face what one financial regulator calls the “real game changer.”

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More Trending

With podcasts and billboard ads, Brex focuses on brand building

Bank Innovation

Corporate card and financial product startup Brex is best known as an enabling platform for businesses, with a focus on startups. The three-year-old company, which is reportedly valued at $2.6 billion, initially spread the word about its offerings through word-of-mouth referrals.

PayPal’s Schulman: Why Payments’ Biggest Innovations Are Yet To Come

PYMNTS

“Do you see PayPal as a tech company, or as a financial services company?”. Dan Schulman still vividly remembers the first question he was asked on his first day on the job as PayPal’s CEO in 2014.

Here is the Data on Bank Customer Problem Resolution

Banker to Banker

Assume for a second that your bank screws up and causes a problem. The customer comes in or calls to complain - Do you apologize? Of course, you do – but then what? For the most part, community banks are fantastic and solving problems and making customers happy.

FlexPay Snags $6M To Help Merchants Reduce False Declines

PYMNTS

FlexPay, a Montreal-based FinTech company that uses artificial intelligence (AI) and machine learning to aid merchants in recouping revenue lost from falsely declined transactions, has raised $6 million in a funding round, according to a release.

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The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

Morning Brief 12.9.19: EU regulators make a fresh push against Facebook's Libra

Payments Source

Dave & Buster's debuts a new payment app; Canadians dump cash; and other information you need to start your day, from PaymentsSource and around the web. Briefing

How Truckers Keep On Transacting

PYMNTS

Trucking is a major American job sector, as 3.5 million professional truck drivers traverse a collective 400 billion miles annually to power both brick-and-mortar and eCommerce shopping experiences. However, transporting shipments from coast to coast presents a host of challenges.

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What Fintech Bubble? How To Find The Good Fintech Investments

Ron Shevelin

Is there a fintech bubble? There are good arguments for both sides of the coin. Ultimately, one side wins out

GM Enters $2.3B JV To Further Production Of Electric Vehicles

PYMNTS

General Motors announced that it is partnering with Korea’s LG Chem to mass-produce battery cells for future battery-electric vehicles. The companies will together invest up to $2.3

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How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

The plan to turn the car into a virtual ATM

Payments Source

A former derivatives trader who spent 14 months as finance chief at Toyota’s innovation hub launched a non-profit that aims to turn cars into rolling wallets able to autonomously make and receive payments in a virtual currency. Digital payments Blockchain

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Goldman Plans To Launch Robo Adviser Next Year

PYMNTS

Goldman Sachs is planning to launch digital wealth management services to customers with as little as $5,000 in 2020.

One bank’s move to embrace transgender consumers

Payments Source

BMO Harris Bank in Chicago recently became the first financial institution to offer a Mastercard that allows transgender and nonbinary people to use their preferred names. Members of that community often experience disproportionate financial hardship, in part because of employment discrimination.

MRI Software Adds AP Capabilities For Real Estate Users

PYMNTS

Real estate accounts payable (AP) solution provider Nexus is expanding its partnership with MRI Software to integrate supplier payment functionality within MRI’s real estate solutions. In a press release issued Monday (Dec.

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Dutch success in wearable payments calls into question the role of transit

Payments Source

In many nations, transit fare payments are seen as a key first step toward the adoption of mobile and wearable payments. In the Netherlands, this wasn't the case. Wearable payments Mobile payments Digital payments The Netherlands

Fed Study: Electronic Devices Used In 24 Pct. Of Consumer Payments

PYMNTS

Cards over cash – specifically, debit cards over cash. Among the findings of the recent 2018 Diary of Consumer Payment Choice , produced through several of the U.S. Federal Reserve Banks, electronic payments are on the rise.

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Nets pilots facial-recognition payments in Denmark

Payments Source

Payments technology operator Nets’ Creation Lab has launched a pilot that uses facial recognition alone to authorized payments with one merchant in Copenhagen. Biometrics Retailers Mobile payments Digital payments Denmark

How Furniture Fuels AR And Other Retail Innovations

PYMNTS

Everyone needs furniture and home furnishings, and that need is helping to drive innovation in that sector of the retail economy. Among the latest examples is a PYMNTS interview with Beck Besecker, CEO and co-founder of Marxent , a company that sells 3D commerce technology.

How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Don’t wait around for FedNow

Payments Source

The Fed's real-time payments system won't be up and running for years, but consumers and businesses demand faster payments today. Real-time payments FedNow Faster payments Consumer banking Fintech Federal Reserve The Clearing House Association

Macy’s Spotlights Women-Owned Businesses With SoGifted

PYMNTS

Macy’s is partnering with the female-led millennial venture capital fund SoGal Ventures to launch an in-store initiative focused on women-owned businesses, Macy’s said in a press release on Thursday (Dec. The retailer is opening SoGifted shops in its flagship Manhattan store and six other locations.

Merchants need more than cards to capture digital pay in Latin America

Payments Source

The region is technologically advanced, but still has a large percentage of underbanked consumers, says PPRO's Javier Vallaure. Retailers Payment cards Underbanked Mobile payments Latin America

Why SamsClub.com CEO Says It’s A $60B Tech Start-Up

PYMNTS

Between 1983 and 1984, three retailers opened in the United States that would drastically alter the landscape by introducing a new business model to consumers. The retailers were Costco, Sam’s Club and BJ’s and the mode was wholesale club for consumers.

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.