Chris Skinner
MAY 30, 2018
For those who know me they know that I travel a lot and, in those travels, it is fairly obvious that the world is not homogenous. Whilst the Chinese leapfrog the West and move to mobile banking, Europeans are seeing a surge of new banks trying to challenge the old, … The post Digital isn’t built in a day appeared first on Chris Skinner's blog.
Bank Innovation
MAY 30, 2018
Location matters. Even in fintech. It turns out nations beyond America today are increasingly generating more significant financial technology innovation, especially in artificial intelligence. Canada is an example. “Smart, early-stage investment in AI and fintech have helped Canada become a research leader in machine learning and deep learning setting the stage for industry 4.0,” said […].
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PYMNTS
MAY 30, 2018
It’s not easy being a bank these days, and it’s often easy to overlook how many challenges traditional banking players face, on many fronts. “Banks are burdened with a lot of challenges that are not of their own making or design,” Gerhard Oosthuizen, CTO at Entersekt , said in a recent conversation. Banks, he noted, have to be compliant with a host of extremely stringent regulations, and often across multiple jurisdictions – all with different rules.
Bank Innovation
MAY 30, 2018
Citigroup has a digital-heavy, branch-light business approach that extends beyond its National Digital Bank platform (announced in March and currently in testing phase), according to Stephen Bird, CEO of Citi’s Global Consumer Banking. For starters, Citigroup doesn’t have many physical branches, and it has no plans of changing that, according to Bird, who spoke yesterday […].
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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
MAY 30, 2018
PayPal announced Tuesday (May 29) that it has acquired Jetlore , the artificial intelligence-powered prediction platform. In a blog post , PayPal said Jetlore’s platform is used by some of the leading retailers around the globe. “With Jetlore’s talent and AI-powered technology, we will enhance and accelerate PayPal Marketing Solutions, adding new capabilities that continue to expand PayPal’s value proposition for merchants beyond the online checkout experience,” wrote PayPal in its blog post.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
MAY 30, 2018
It’s an experience that almost every American adult can relate to: the holiday trip to an emergency room with an injured or sick child that becomes a half-day experience. It’s usually prompted by a just serious enough medical emergency that doesn’t quite require an ambulance, but does require a higher order of care than the typical urgent care clinic – and something that can’t wait for normal office hours the next day.
Bobsguide
MAY 30, 2018
It's no secret that new technologies have thoroughly changed the music business over the past few decades. The emergence of the open internet blindsided the traditional gatekeepers of the industry—record labels, entertainment retailers, radio stations—and unlocked access for.
PYMNTS
MAY 30, 2018
The Prime rewards are coming; the Prime rewards are coming. Such is the hue and cry set to go off in about a dozen states, as Amazon is starting to ramp up its discounting for Prime members in Whole Foods locations nationwide. The move, in some sense, is not much of a change in pace for Whole Foods — once known “affectionately” as Whole Paycheck — under Amazon’s ownership , where prices have come down in many ways.
Insights on Business
MAY 30, 2018
Innovating AI in user experience (UXD) to empower the first line of defense. Laura Polak is Head, GRC Offering Management, and Christophe Delaure is Senior Product Manager for OpenPages at IBM. In a wide-ranging interview, Laura and Christophe share insights on how innovating artificial intelligence (AI) via User Experience Design (UXD) will soon transform risk and compliance management, empower the first line of defense, and enable the business to realize the value of “owning” risk.
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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
MAY 30, 2018
A new survey shows that finance executives are optimistic about the economy, and as a result expect to spend more on travel & entertainment (T&E). “Countries and businesses globally expect continued growth through 2018, with newfound confidence in Europe adding to carryover optimism from 2017 in Asia-Pacific and North America,” according to the 2018 Global Business and Spending Outlook Survey , commissioned by American Express and conducted by Institutional Investor Thought Leadership S
Payments Source
MAY 30, 2018
Ingenico is negotiating a business combination with BS Payone that would boost its profile in parts of central Europe and allow it to counter multichannel moves by other major payment companies.
PYMNTS
MAY 30, 2018
The Consumer Financial Protection Bureau (CFPB) has announced that it is working with the Commodity Futures Trading Commission to develop a regulatory sandbox for FinTech firms. “We are … in the process of putting together, for lack of a better word … a FinTech sandbox,” said acting CFPB Director Mick Mulvaney in a speech to the Women in Housing and Finance group, according to American Banker.
Bobsguide
MAY 30, 2018
Blink and you could miss it. Commerce is undergoing a massive transformation and becoming a hot-bed of rapid revolution. It’s where you see some of the most exciting new ideas come to fruition and incumbent providers failing to innovate being replaced by players embracing new technologies.
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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
MAY 30, 2018
A few months after Nordstrom rolled out its Nordstrom Local concept in West Hollywood, the retailer is planning on adding two more locations in Southern California. The company is also open to bringing the concept to other cities, retail news source Chain Store Age reported. The 3,000-square-foot store boasts multiple features. Shoppers can access personal stylists and on-site tailoring.
Bobsguide
MAY 30, 2018
Chapter III of GDPR, Section 1 provides for some of the transparency requirements placed upon data controllers as they communicate with data subjects. It explicitly refers to several Articles 13 – 22 and Article 34. In plain English, that means: The controller has to provide certain.
PYMNTS
MAY 30, 2018
With a bevy of patent filings, Walmart is focusing on improving the in-store experience and the technology that powers its stores behind the scenes. CB Insights said the retailer has filed a little more than 1,400 patents since 2009, CNBC reported. One patent, for example, is for a smart shopping cart that is connected to a sensing device. In another filing, Walmart describes a wearable device that could keep track of a user’s activities — a technology that could help increase employee producti
Payments Source
MAY 30, 2018
In an advancing digital age, banks and merchants rarely question the data that advanced analytics and artificial intelligence can provide about their customers' financial and payments habits. But are they using data analytics to its fullest potential?
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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
MAY 30, 2018
Small businesses (SMBs) seeking loans decreased at the end of 2017, and companies felt the sting of financial challenges more acutely. Financing of all sorts was on the downswing, and SMB owners began dipping into their own piggy banks before seeking a lending agreement. That finding comes care of data gathered by 12 regional Federal Reserve banks in a survey conducted over the third and fourth quarter of 2017.
Payments Source
MAY 30, 2018
Splitit has recently begun offering point-of-sale financing with monthly installment payments for debit card purchases, targeting more budget-conscious U.S. and European consumers as well as those without credit.
PYMNTS
MAY 30, 2018
The beauty industry brought in more than $445 billion in sales in 2017, marking 5 percent growth over the year before. The industry is booming, and consumers who shop for beauty products have no shortage of brand options in stores and online. From up-and-coming players like Beautycounter and Glossier to more prominent companies like Estee Lauder and Clinique, the beauty market is increasingly oversaturated with both old and new options.
Payments Source
MAY 30, 2018
For voice to truly thrive in business and enterprise settings, the technology must handle complicated transactions, such as an order for multiple sets of tables and chairs with customized dimensions, writes Mark Bartlett, chief experience officer at FPX.
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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
MAY 30, 2018
Karim Baratov, a Canadian that has been charged with hacking Yahoo ‘s email for the Russians, has been sentenced to 60 months. Bloomberg , citing court proceedings, reported that Baratov was charged with computer fraud and is one of four people slapped with charges last year for a hacker scam that was tied to Russia’s FSB security agency. Baratov has pleaded guilty to conspiracy to commit computer fraud and identity theft in November, noted Bloomberg.
Payments Source
MAY 30, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Breach at Canadian banks; Indonesian post office offers remittance; Ripple's cross-border tech picks up speed; Fifth Third collaborates on AI to improve merchant services.
PYMNTS
MAY 30, 2018
What will it take to make Latin America more digital — in payments, commerce, FinTech or even healthcare? That longstanding question gained some fresh attention in recent weeks when Visa announced its investment in YellowPepper. According to Visa, the move will help support growing opportunities for tokenized payments, increasing access to Visa application programming interfaces (APIs) and expanding the usage of push payments via Visa Direct.
Payments Source
MAY 30, 2018
Wirecard and Enio, an Austria-based supplier of electric car charging stations throughout Europe, are collaborating to enable contactless payments at thousands of sites.
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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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