Bank Innovation
NOVEMBER 27, 2017
Fintech lenders are making significant gains in the personal loan space, according to a recent TransUnion report, which follows the staggering growth of fintech lenders in the market over the past few years. The report, called Fact versus Fiction: FinTech Lenders, was released last week during the Digital Lending + Investing Conference in New York, […].
Chris Skinner
NOVEMBER 27, 2017
The world feels fairly surreal sometimes. I watch the relentless rise in price of bitcoin, ether, litecoin and brethren, and feel it’s just a truly weird moment we’re living in. I’ve never seen assets rising 1000% of, in ether’s case, 5000% in a year. It’s crazy. Alongside this, I see … The post The Circle of Crypto appeared first on Chris Skinner's blog.
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Bank Innovation
NOVEMBER 27, 2017
EXCLUSIVE—Digital shopping is expected to hit a high today during Cyber Monday, and most consumers should be ready for it: especially considering that a good number of them even did their Black Friday shopping on digital channels. This year’s Black Friday saw a startling 24% increase in digital shopping from last year, according to a […].
Chris Skinner
NOVEMBER 27, 2017
I wrote about the fact that digital transformation does not create greater shareholder value … yet … and then DBS announce that they are the first bank in the world to demonstrate the link between digitization and shareholder value creation on November 17. Interesting, as I blogged about this on November … The post Proving digital transformation works for shareholder returns appeared first on Chris Skinner's blog.
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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
NOVEMBER 27, 2017
The Bank of England spent £3,000 on a Snapchat geofilter in September of this year, but when asked for justification for the expense, the bank had no response. The money went towards promoting the new £10 Jane Austen note, with the filter overlaying images of the bank note over a user’s face. It was rolled […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 27, 2017
Two and a half years after its launch, fintech startup Revolut has reached an important milestone: the digital banking startup now has one million customers across Europe. The majority of the London-based startup’s users are based in the United Kingdom, but the fintech also has over 150,000 users in France, and more than 50,000 users […].
Accenture
NOVEMBER 27, 2017
Connecting more than 8,000 decision makers and thought leaders across the industry, Sibos 2017 in Toronto was once again the platform where the global financial community explored the disruptions and opportunities in payments driven by innovation, technology and new business models. Each year we report on the themes we observe at Sibos to help readers keep on the pulse of the payments industry.
Bank Innovation
NOVEMBER 27, 2017
Sberbank of Russia acquired a 25% stake in a biometric startup, the bank announced today. The startup is called VisionLabs, and focuses on facial recognition. Terms of the transaction were not disclosed, but Sberbank’s total stake in the company comes out to 25.07%. The company’s founders, along with VC Sistema_VC, own the remaining stake. In […].
Bobsguide
NOVEMBER 27, 2017
This interview was originally published on our sister website PaymentEye. James Anderson is Executive Vice President of Digital Payment Products at Mastercard. Based in New York, he leads his multi-national team to redefine the way the business examines the emerging payments.
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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
NOVEMBER 27, 2017
EXCLUSIVE – British payments network, Earthport Plc expands to Bangladesh by partnering with local bank BRAC Saajan Exchange Ltd. The partnership between the two now enables inbound payments into Bangladesh through Earthport’s payment network. The partnership also marks Earthport’s entry into the South Asian country. Hank Uberoi, CEO of Earthport, said in a Monday statement: […].
PYMNTS
NOVEMBER 27, 2017
With another Small Business Saturday in the books, small- and medium-sized businesses (SMBs) are still kept on their toes by the yearly spike in sales this time of year. For many, that means seeking external financing to fund an increase in business. The latest data on small business finance suggests entrepreneurs luckily have a range of options when it comes to seeking working capital as large institutional lenders continue to increase their SMB loan application approval rates.
Let's Talk Payments
NOVEMBER 27, 2017
We have a historical basis for establishing that money – fiat, commodity or otherwise – is a state-backed utility. And for good reason! What is more important is the understanding.
PYMNTS
NOVEMBER 27, 2017
It’s time to shift gears when it comes to a commonly held perception about millennials and vehicle ownership. After years of believing millennials were disavowing the practice, recent studies indicate the millennial generation is kicking the tires on the concept of owning or leasing their own set of wheels after all. But, is the automotive market ready to offer a car shopping experience millennial consumers will embrace?
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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
NOVEMBER 27, 2017
Pressure continues to weigh heavily on the shoulders of the financial services industry, with increased regulation, the high cost of cross border payments, and the correspondent banking system becoming even less effective as banks retrench from foreign markets. Added to that, financial tech.
PYMNTS
NOVEMBER 27, 2017
Shoppers looking for something sparkly this holiday season for someone special (or themselves) can now browse jewelry on Snapchat — as Kay Jewelers will be using the social media platform to showcase its products via augmented reality. The retailer has launched a custom “world lens” on Snapchat’s mobile app designed to allow users to “try on” several Kay Jewelers styles.
Payments Source
NOVEMBER 27, 2017
The information you need to start your day, from PaymentsSource and around the Web: Ripple's blockchain push; U.K.'s PSD2 preparations; Interac's global expansion; and more.
PYMNTS
NOVEMBER 27, 2017
IBM X-Force, the cybersecurity intelligence and research unit of IBM, has reportedly discovered a cybercriminal ring operating out of Ukraine targeting Canadian businesses. Recent reports in Security Intelligence said the criminals are deploying custom phishing attacks against business customers of Canadian banks to gain access to their bank credentials, passwords and authentication codes.
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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.
Bobsguide
NOVEMBER 27, 2017
The second part of the 'Influencer interview' with Chris Gledhill looks at the specificities of how Neural Network AIs will change the financial landscape, whilst Chris also takes a shot at mapping how PSD2 will pan out. Will the neural network AIs replace the human doing the.
PYMNTS
NOVEMBER 27, 2017
What do you give the person who has everything? It’s an age-old question — or one that is at least as old as the Hallmark era — which has made gifting opportunities out of not only birthdays but also Mother’s Day, Father’s Day, Grandparents’ Day, Valentine’s Day and other, more traditional holidays like Christmas and Hanukkah. With so many gift-giving scenarios on the calendar, it can be hard to come up with something unique for each one.
Payments Source
NOVEMBER 27, 2017
Black Friday is making headway with bargain-hunting U.K. consumers, but their 3 billion pounds ($4 billion) in spending is doing nothing to help Britain’s troubled retail centers.
PYMNTS
NOVEMBER 27, 2017
The pre-Black Friday narrative was not entirely sunshiny, with an evolving consensus that the day – though perhaps symbolically important to consumers – is no longer quite the bellwether for holiday shopping that it once was. Instead, it seems that Black Friday has given way to Grey November and Dealcember. But consumers, as it turns out, had a few surprises in their shopping carts, translating to surging sales online, department stores squeaking out a bit of a comeback and even brick-and-mortar
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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.
Payments Source
NOVEMBER 27, 2017
By David Gurteen It's a while since I last talked about what I call conversational conferences - February 2013 to be exact. I am now starting to pull some of that old material into my blook and updating it. I do wish conference organizers would make their events more participatory - making conference conversational is not the full answer but is a simple enough, low cost step.
PYMNTS
NOVEMBER 27, 2017
Black Friday online shopping hit an all-time high this year, growing 24 percent year-over-year, according to data from Salesforce’s retail intelligence unit. Fortune reported news that 42 percent of Black Friday orders were placed on a smartphone, while 49 percent were placed on a desktop or laptop computer, marking the first year that computers generated less than half of all online orders.
Payments Source
NOVEMBER 27, 2017
Caixa Bank and its partners in Spain's first cross-industry collaboration to advance payments technology have officially launched their research lab in Barcelona.
PYMNTS
NOVEMBER 27, 2017
More bad news for Uber : After revealing that it paid hackers $100,000 to keep quiet about stealing the personal information of 57 million customers and drivers , the company is now facing at least three potential class-action lawsuits. According to The Wall Street Journal , Uber is also under investigation by the attorneys general of New York, Missouri, Massachusetts, Connecticut and Illinois.
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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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