Fri.Nov 17, 2017

article thumbnail

Garmin Goes Live with Contactless Payment Feature for Latest Smartwatch

Bank Innovation

EXCLUSIVE – Contactless payment capabilities are now available on wearable maker Garmin International’s latest smartwatch. Today Garmin International, along with payment technology provider FitPay, said that its payments feature, called Garmin Pay, is now live on Garmin’s smartwatch Vívoactive 3. Whether the announcement, which comes just in time for Black Friday, will help lure buyers […].

Payments 278
article thumbnail

Deciphering the value of cryptocurrencies

Payments Dive

Understanding the potential of blockchain and decentralized applications begins with asking the right questions about what they're for and what gives them value.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Kabbage Gets $200 Million from Credit Suisse

Bank Innovation

Small business lender Kabbage received $200 million in revolving credit from Swiss financial institution, Credit Suisse. The funds will used by the Atlanta-based Kabbage to scale and expand its lines of credit with longer terms to its existing customer base, as well as some of the larger small businesses. Kabbage now has a total debt […].

Atlanta 223
article thumbnail

Old John Cryan had some code, AI, AI, Oh!

Chris Skinner

There are two big tech topics in banking these days, namely Artificial Intelligence (AI) and Blockchain. These two tech titans are changing the back office of banks into intelligent shared structures that will be mind-blowing a decade from now. In fact, they’re not far off that today. I’ve written a … The post Old John Cryan had some code, AI, AI, Oh!

article thumbnail

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

article thumbnail

PFM Startup NerdWallet Lays Off 11% of Its Workforce

Bank Innovation

Personal finance management startup Nerdwallet laid off 53 people yesterday, after failure to meet its profitability goals. The 53 people represent about 11% of Nerdwallet’s workforce, according to a report by TechCrunch, and is the first step of a restructuring effort by the company. That effort will fold Nerdwallet’s sales and partnership teams into its […].

Meeting 223

More Trending

article thumbnail

Will Ally’s CurrenSee Alexa Feature Entice More Millennial Users?

Bank Innovation

EXCLUSIVE—How does a bank change how users think about their spending? This is one of the questions Ally Bank asked before the launch of their new Alexa skill, which was released earlier this week. The skill comes equipped with a variety of ways to help users manage their banking needs and spend, including a feature […].

article thumbnail

Community Banks, Where Moving Beyond Interest Income Is In The (Credit) Cards

PYMNTS

Think of banking and you might think of lending and deposits, where firms make money on the spread between what they pay savers and what they take in from borrowers. But banks cannot live on interest alone. Additional financial products and services must round out traditional banking activities. And yet, sometimes community banks, opt to stick to their lending knitting, forfeiting the potential to earn non-interest revenue and cementing their ties with both individual and corporate customers.

article thumbnail

PayPal Sells Consumer Loans to Long-Time Partner Synchrony Financial

Bank Innovation

Payments company, PayPal will sell its U.S. consumer loan portfolio to Synchrony Financial. Yesterday, the San Jose, Calif-based PayPal said it agreed to sell $5.8 billion in consumer credit receivables to Stamford, Conn-based Synchrony Bank, a unit of Synchrony Financial. Synchrony Bank has been PayPal’s banking partner since 2004. In addition to selling its credit […].

San Jose 199
article thumbnail

Singles’ Day Sizzles, IPOs Fizzle And Mt. Gox Brings (More) Pain

PYMNTS

Sizzle. Singles’ Day is for Lovers (of Global eCommerce) : The record set last year for Alibaba’s Singles’ Day gets crushed with this year’s $25 billion in transactions (1.4 billion of them). That the tally is up 39 percent year over year is nothing to sneeze at. But the larger sizzle here is eCommerce, truly transacted across borders, stretching through the U.S., Australia and Germany.

Bitcoin 109
article thumbnail

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

article thumbnail

Virgin Money to Launch SME Savings Account in 2018

Bank Innovation

UK challenger bank Virgin Money has plans to step into small business banking with an SME account to be launched in 2018, according to the bank. The account will be launched in January of the new year, bank CEO Jayne-Anne Gadhia said yesterday, adding that the account will “enable us to start developing relationships with […].

US 170
article thumbnail

Samsung’s Biometrics Being Used Across Thomson Reuters Products

PYMNTS

Samsung and Samsung Electronics America announced news on Thursday (Nov. 16) that they inked a deal with Thomson Reuters to use its Samsung SDS Nexsign biometric solution in several of its mobile and web-based apps. In a press release , Samsung said Thomson Reuters is currently deploying Nexsign into production in a number of applications. The company will include it in some of its flagship products, with the user able to minimize the use of a password by enrolling their biometrics.

Samsung 108
article thumbnail

Why better serving business customers is in banksâ?? interest

Bobsguide

What if Jonathan Ive was your bank manager? Chances are, a bank run by Apple’s design chief would be simple, effective and do one thing exceptionally well. So why do so many of us feel working with our business bank provider is anything but straightforward? Complaints about banking.

Apple 94
article thumbnail

Apple Delays HomePod Until 2018

PYMNTS

Apple announced today (Nov. 17) that it’s delaying the launch of its HomePod voice-activated smart speaker until early next year. “We can’t wait for people to experience HomePod, Apple’s breakthrough wireless speaker for the home, but we need a little more time before it’s ready for our customers,” Apple said. “We’ll start shipping in the U.S., U.K. and Australia in early 2018.”.

Apple 105
article thumbnail

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.

article thumbnail

Why Functionality Over Expansion Is The Right Move

Let's Talk Payments

In the remittance world, expansion isn’t everything. While there’s value in moving your business into new markets or regions, far more important is offering a compelling product to the markets.

Regional 100
article thumbnail

How Sezzle Wants To Help Millennials Without Sizzling Credit

PYMNTS

The average American carries 2.6 credit cards, but averages can be a bit misleading. For example, that figure includes a full 30 percent of Americans who don’t carry or use a credit card at all. Exclude those folks, and the figure looks very different. The average credit card-wielding American carries about four different cards (3.7 to be exact). But using that more accurate-seeming figure obscures another imbalance: The “average” changes very much by demographic of American.

article thumbnail

The First Investment Fund in Nordics Places Bets in the Hands of AI [Curated Content]

Let's Talk Payments

2018 spotlight: ML/AI GS was among the pioneers to replace human traders with AI. At its height back in 2000, the US cash equities trading desk at Goldman Sachs’s New.

US 94
article thumbnail

Voice-Enabled Tool Via Poshmark Connects Buyers And Sellers In Real Time

PYMNTS

Online marketplace Poshmark — which focuses on the sale and sharing of clothing — has debuted Stylist Match, a voice-enabled offering that the company will use to help connect buyers and sellers in real time, and which works with Amazon’s voice assistant Alexa. Chain Store Age reported news on Friday (Nov. 17) that Stylist Match can ask Alexa a command such as, “Alexa, ask Poshmark to style me,” and the Amazon voice assistant will choose the event for which the consumer will be styled, such as

Tools 101
article thumbnail

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.

article thumbnail

The “War on Cash”(A Report from the Front)

Matt Wilcox Pro

DON’T THROW AWAY your cash just yet. If the International Currency Association (ICA) has its way, cash will never be found on the abandoned products pile next to the likes of eight-track tapes, dot matrix printers, and 16 ounces of coffee for under six bucks. The ICA, which came into existence last year and sometimes [.

Report 60
article thumbnail

After Its Big ICO, Tezos May Be In Serious Trouble

PYMNTS

Troubling times over at Tezos — the blockchain company that made headlines in July when it snapped up $232 million through its independent coin offering. The firm has been hit with not its first — but its second — class action lawsuit in under 4 weeks against the firm and husband-wife founding team Arthur and Kathleen Breitman. The Breitmans promised a new blockchain — with governance better than bitcoin’s and built to withstand the kind of strike that has made bitcoin something of a bouncing ba

article thumbnail

How to design a modern bank card

BankNXT

Why you should pay more attention to card designs. A story about the humble bank card, and how they're still important, by Benedict Shegog of 11:FS. How to design a modern bank card on BankNXT.

How To 65
article thumbnail

Williams-Sonoma Jumps On The AR Bandwagon

PYMNTS

Williams-Sonoma is making a big acquisition to give its brand a big digital upgrade. New from Recode indicates that the home furnishings retailer will be buying San Jose-based startup Outward for $112 million in cash. Outward’s area of specialty is detailed 3D imaging for physical products; it is particularly useful for visual merchandising on websites or in mobile apps.

San Jose 101
article thumbnail

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.

article thumbnail

Managing ATM networks in the age of disruption: Head, not hype

ATM Marketplace

Issues such as falling cash demand and branch closures could present a challenge to ATM deployers. They'll need to use their heads to sort out the real-world problems from the exaggerated predictions and come up with a sound approach to fleet management.

ATM 55
article thumbnail

Walmart Crushes Q3 Earnings By Crushing Digital

PYMNTS

Walmart shareholders got an early holiday gift this year, in the form of a stock price that jumped 10 percent shortly after the market opened today. This came as the nation’s largest retailer by sales managed to notch solid beats across the board in revenue, comparable sales and eCommerce sales growth. “We have momentum, and it’s encouraging to see customers responding to our store and eCommerce initiatives,” CEO Doug McMillon said in a statement “Existing customers have

Online 101
article thumbnail

Asian ATMs boosted by financial inclusion efforts

NCR

The Asia-Pacific market is currently one of the most exciting parts of the globe for financial services innovation, with some of the world’s fastest-developing economies offering huge potential for forward-thinking financial institutions. The push to encourage greater financial inclusion in the region has also been helping bring many more people into the formal financial system.

ATM 56
article thumbnail

Amazon Launches Trucker-App Relay To Make Warehouse Pick-Ups Faster

PYMNTS

As part of Amazon’s unending quest to optimize its supply chain for efficiency, Amazon has stealthily dropped Relay — an app meant to make the pick-up process for truckers at warehouse facilities that much smoother and faster. With Relay, drivers can use the app to enter cargo information — which in turn lets them check in with a QR code to get through the security gate, as opposed to the more time-intensive process of badging in.

Maine 101
article thumbnail

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.