Bank Innovation
DECEMBER 14, 2017
EXCLUSIVE—Should banks acquire or partner with smaller, more agile fintechs? Well, that depends if the end goal of the bank is to further financial innovation, Derrick Walton, EVP of global financial networks for Hyperwallet, told Bank Innovation. “There’s a difference in culture, in what the goals tend to be,” Walton said, who is responsible for […].
Chris Skinner
DECEMBER 14, 2017
Taking of moving from the concept of a Universal Basic Income to money without government to tokens to credits, I’ve been reading a fascinating book recently on Star Trek’s economics called Trekonomics. Released in 2016, I thought it would be some frivolous Trekkie’s drooling over the wonder of the Federation’s … The post The economics of our future world appeared first on Chris Skinner's blog.
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Bank Innovation
DECEMBER 14, 2017
EXCLUSIVE – Financial crime detecting platform QuantaVerse has added a new AI-based service to allow its financial institutions and banking clients better detect fraud and other crimes through audit investigations, as these crimes continue to be a major concern for banks and non-banks alike. The new CAE (Chief Audit Executive) Checkup service unveiled today uses […].
Payments Dive
DECEMBER 14, 2017
These areas present great opportunities, but also significant challenges.
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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 14, 2017
The central banks of the United Arab Emirates and Saudi Arabia are launching a pilot to use cryptocurrency to facilitate cross-border payments between the two countries. While the two governments have not issued an official statement unveiling the pilot, there has been plenty of coverage on the matter by local news organizations. The UAE has […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
DECEMBER 14, 2017
Finiata, a finance platform developed for SMEs, freelancers, and “Self-employed” consumers, has raised $21 million (or €18 million) in new funding for its platform, the company reports. Founded by Sebastian Diemer, a fintech veteran who also co-founded credit scoring firm Kreditech, the company is focused on invoice financing for smaller companies or entrepreneurs with individual, […].
Chris Skinner
DECEMBER 14, 2017
Things we’re reading today include … Fed raises interest rates, keeps 2018 policy outlook unchanged China’s central bank raises interest rates after Fed rise The Old Lady in danger as Bank of England ditches gendered language Banks set to move fewer than 4,600 City jobs over Brexit South Africa whistleblower … The post Things worth reading: 14th December 2017 appeared first on Chris Skinner's blog.
Bank Innovation
DECEMBER 14, 2017
IBM has signed 12 companies up for early access to its developing quantum computing system, including the banks JPMorgan Chase and Barclays, the organization announced today. Alongside additional companies, like technology companies Samsung and several automakers including Honda Motor and Daimler, the banks will receive access to IBM’s resources and quantum computing power as the […].
PYMNTS
DECEMBER 14, 2017
Banks and FinTechs may have had frosty relations in the past , but new open API ecosystems are now enabling former competitors to collaborate and grow their respective businesses. While collaboration is often seen as the more appealing approach, an open banking ecosystem invites its own challenges for traditional banks. Specifically, these financial institutions (FIs) must learn how to collaborate and innovate at a considerably faster pace.
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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
Bank Innovation
DECEMBER 14, 2017
Walmart, one of the nation’s largest employers, is allowing its 1.4 million employees to take advances on their pay, according to the New York Times. The move comes in the holiday season, when many Americans struggle to keep up with bills and extra expenditures. Instead of waiting for their biweekly paychecks, Walmart employees can get […].
PYMNTS
DECEMBER 14, 2017
Three computer hackers behind the Mirai botnet, which kicked websites offline last year in cyberattacks, have pleaded guilty to cybercrime. Citing court documents, Reuters stated on Wednesday (Dec. 13) that former Rutgers University student Paras Jha pleaded guilty in federal court in New Jersey to charges, including writing code that enabled him to infect and control devices.
Bank Innovation
DECEMBER 14, 2017
EXCLUSIVE—Should banks acquire or partner with smaller, more agile fintechs? Well, that depends if the end goal of the bank is to further financial innovation, Derrick Walton, EVP of global financial networks for Hyperwallet, told Bank Innovation. “There’s a difference in culture, in what the goals tend to be,” Walton said, who is responsible for […].
PYMNTS
DECEMBER 14, 2017
Not innovating is not an option. Perhaps in the early days of digital banking and mobile apps, innovative technology was a “nice to have,” but that is no longer the case. Today, it is a must-have for financial institutions (FIs) — that is, if they want their payment products to be the first one for which customers reach at the point of sale, whether physical or digital.
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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.
Bobsguide
DECEMBER 14, 2017
This past year has seen a number of significant changes in the payments industry. From new transfer methods to the PSD2 push, the demand for faster, smarter, and safer transactions has reached a fever pitch. Still, 2017 seems almost like it was a primer, setting the stage for the game-changing.
PYMNTS
DECEMBER 14, 2017
Arguably, the internet’s premier destination for auctions is eBay, which is not an unfair statement, given the sheer volume of said auctions going on via its website at any given moment. But as massive and instantly associable as auctions are, eBay has spent the last several years growing up, and growing past its old model. In fact, eBay is one of the web’s largest online marketplaces — with an estimated 168 million buyers in total — Customers eBay has spent much of 2017 trying to convince not t
Bobsguide
DECEMBER 14, 2017
In the Canadian market, both consumers and banks have been early adopters when it comes to banking innovation, whether it is mobile, desktop or behind the scenes technology.
PYMNTS
DECEMBER 14, 2017
Amazon Prime may have had the best Prime Day ever this past summer, but Morgan Stanley warned there are signs that its Prime growth is starting to slow. According to news from CNBC , Morgan Stanley said in a research report this week that based on a survey of 1,000 adults in the U.S. during the third quarter, 40 percent of consumers in America already have Prime memberships, which matches the same level that was seen in the fourth quarter of last year.
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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.
Let's Talk Payments
DECEMBER 14, 2017
FinTech startups are innovating across broad categories — in core banking, new financial services, insurance, and investing. What’s driving this change? And how do these startups successfully attack and compete.
PYMNTS
DECEMBER 14, 2017
Forget presents under the tree. DoorDash is bringing Americans what they really want this holiday season: hot, fresh Wendy’s takeout delivered directly to their doors (or cold, fresh Frosties, if they so desire — DoorDash’s thermal bags can keep deliveries either hot or cold as needed). Wendy’s and DoorDash announced earlier this month that they were expanding their partnership following a successful pilot program at 135 restaurants across Columbus, Ohio, and Dallas, Texas.
BankNXT
DECEMBER 14, 2017
Some people describe the digital era as fluffy, says Leda Glyptis, but they're missing the UX revolution that's happening right in front of them. The banking UX revolution happened when you weren’t looking on BankNXT.
PYMNTS
DECEMBER 14, 2017
On Thursday (Dec. 14), Overstock.com CEO Patrick Byrne revealed that within the next three months the company should have a deal to sell or reorganize its retail business to focus on blockchain. In the interview with CNBC , Byrne said, “my goal is [within] 60 to 90 days we walk away from this,” noting he has an “ethical obligation” to focus on his new De Soto joint venture for the next five years.
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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.
Let's Talk Payments
DECEMBER 14, 2017
Governing authorities in the Middle East did not lose time in 2017, setting up innovation labs, Sandboxes, and establishing strategic partnerships with international institutions in order to turn the region.
PYMNTS
DECEMBER 14, 2017
When a company is as massive as any one of the Frightful Five, the bad news is it’s inevitable that some things will slip under the radar. Apple and Amazon learned that the hard way this week as partners called them out on fake apps and hubcaps for sale on their platforms. The good news, though, is that it’s never all bad news when you’re as big as the Frightful Five.
Payments Source
DECEMBER 14, 2017
As Mastercard, Discover and American Express all plan to drop signature authentication at the point of sale, Visa is largely mum on the topic. But does it really need to weigh in?
PYMNTS
DECEMBER 14, 2017
Thanks to early boosts from Black Friday and Cyber Monday sales, the holiday season is poised to be a merrier one for retailers, as Americans are upping their online and in-store spending, according to news from The Wall Street Journal on Thursday (Dec. 14). In fact, in-store, online and restaurant spend increased 0.8 percent in October, per reports from the Department of Commerce, beating economist estimates of 0.3 percent.
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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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