Sun.Jul 07, 2019

Two weeks to pay someone? Luxury!

Chris Skinner

Being raised on Monty Python, an old sketch popped into my head (The Four Yorkshire Men) and led to a thought. A grandfather and grandson are at the dinner table … Grandfather: Ah, when I was a lad, life was very different. Grandson: In what way, grandad?

Lawmakers Push To Fast-Track Crypto Regulation

PYMNTS

Are new bitcoin rules coming? According to The Wall Street Journal , “the Internal Revenue Service is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers.

The Finanser’s Week: 1st July – 7th July 2019

Chris Skinner

The main blog headlines are … How can you be AI with DD? No, I don’t mean Attention Deficit Disorder, which would be ADD, but I mean Artificially Intelligent with Dumb Data.

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More Grocery Stores Try Cashierless To Blunt Amazon Effect

PYMNTS

Cameras reportedly are taking a more important place in the world of grocery, perhaps to the detriment of cashiers.

What would the Benjamin Franklin think of Bitcoin?

Daily Fintech

The Currency acts of 1751 and 1764 were very unpopular in the colonies and Benjamin Franklin lobbied for their repeal when visited England in the 1760s. Some argue that taking away from colonists the right to issue their own money was important enough to go to war.

Apple Launches Beta Version Of Sign-In With Apple

PYMNTS

Apple continues to make progress with biometrics and facial recognition for device sign-in purposes.

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Banks push for greater relief on foreign bank regs, living wills

BankThink

The industry is urging federal regulators to go further in streamlining oversight of foreign banks and resolution-planning requirements. Critics warn that the proposals could weaken post-crisis safeguards.

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Credit bureaus seek partners to keep up with fintech wave

Payments Source

Much as the fintech wave has sparked investments and deal-making among legacy bank technology vendors and payment processors, Experian, Transunion and Equifax are entering partnerships and making investments. Credit scores Investments Payment processing Fintech

Google Keeps Gmail Purchase History

PYMNTS

A new report has found that Google is still keeping a record of a user’s purchase history indefinitely.

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Swedish neobank PFC receives EUR 5 mln investment from Nordea

The Paypers

(The Paypers) Fintech startup PFC has raised EUR 5 million in funding, in a significant investment from Nordea, which operates in 20 countries around the world

Hackers Make Off With $500K From 7-Eleven Japan App

PYMNTS

7-Eleven Japan had to suspend the mobile payments feature on its 7Pay app due to a security flaw that affected around 900 people. The payments feature, which was launched on July 1, allowed customers to scan a barcode with the app and charge a linked credit or debit card.

How To Open A Sukanya Samriddhi Yojana Account

BankBazaar

Here’s everything you need to know about Sukanya Samriddhi Yojana Account. Read on. Sukanya Samriddhi Yojana (SSY) is a government welfare saving scheme that allows you to build a sizable fund for your daughter’s future education and marriage expenses.

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Bitcoin Daily: Bank Of Japan Pushes Back On Cryptocurrencies; Venezuela President Demands Consumer Access To Petro Crypto

PYMNTS

European Central Bank (ECB) Executive Board Member Benoit Coeure has asked financial regulators to create a framework for crypto projects ahead of Facebook’s launch of its own digital currency, Libra. “It’s

Holes in the data life cycle hinder payment digitization

Payments Source

Once a dataset’s data and life-cycle events are in a known state with lineage, new and exciting opportunities are possible, writes David Levine, head of data product strategy for PeerNova. ISO and agent Data management Payment processing Digital payments Risk

News Streaming Service Coming To Firefox

PYMNTS

A new subscription service for news is in the works from Mozilla , according to a report. It said that Mozilla had previously “announced an upcoming collaboration with Scroll aimed at finding a way to help fund news outlets.

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California bill capping consumer loan interest rates moves closer to enactment

CFPB Monitor

AB 539 was cleared by the California Senate’s Banking Committee on June 26. The bill would change several aspects of the California Financing Law (CFL), including by setting new interest rate caps, imposing new rules governing loan duration, and prohibiting prepayment penalties.

Revolut Brings On Ex-Goldman Exec As Board Member

PYMNTS

A former Goldman Sachs executive is joining FinTech Revolut’s board. Michael Sherwood, who left his position as vice chairman of Goldman Sachs in late 2016 after more than three decades with the company, is joining Revolut as a non-executive director next week.

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Culture, Not Technology, Key to Digital Transformation Success In Banking

The Financial Brand

A digital bank requires more than just new technology. It requires a culture that empowers employees and encourages innovation. The post Culture, Not Technology, Key to Digital Transformation Success In Banking appeared first on The Financial Brand.

Lawmakers Push To Fast-Track Crypto Regulation

PYMNTS

Are new bitcoin rules coming? According to the Wall Street Journal , “the Internal Revenue Service is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers.

Culture, Not Technology, Key to Digital Transformation Success In Banking

The Financial Brand

To become a digital bank takes more than just new technology. It requires a culture that empowers employees and encourages innovation. The post Culture, Not Technology, Key to Digital Transformation Success In Banking appeared first on The Financial Brand.

GM’s Self-Driving Co. To Get $2.25B From SoftBank

PYMNTS

self-driving company Cruise revealed that a U.S. national security panel has approved a $2.25 billion investment by Japan’s SoftBank.

Lagging Banks & Credit Unions Can Still Catch Up with Digital Disruption

The Financial Brand

Don't panic! Three intensive steps taken immediately can get banking players back into the financial action before it's too late to win. The post Lagging Banks & Credit Unions Can Still Catch Up with Digital Disruption appeared first on The Financial Brand. Culture & Leadership

Diversity Insight: Varied numerators, common denominator

CU Insight

I’m a past chapter president for a well-known international women’s organization, The Links, Incorporated.

Why Chase’s Dimon Loves Branches, Admires Bezos & Questions Libra

The Financial Brand

A little-known trip to Seattle to visit a growing 'book company' is just one thing you don't know about America's top banker. The post Why Chase’s Dimon Loves Branches, Admires Bezos & Questions Libra appeared first on The Financial Brand. Culture & Leadership Featured Content

How to navigate the Federal Register

CU Insight

As credit unions seek answers to an unclear rule or further clarification on a regulation, NAFCU’s Brandy Bruyere compiles a quick guide to navigate the Federal Register in a post this week on the Compliance Blog.

May MCUEs show loan growth slowing, savings up 1.3%

CU Insight

CUNA’s Monthly Credit Union Estimates for May 2019 shows a continuation of slowing loan and membership growth: credit union memberships increased just 0.31%, the slowest May increase since 2014.

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