Bank Innovation
AUGUST 7, 2017
A bank buying a fintech company is newsworthy, but a fintech startup buying a bank means the industry may be changing. It’s happened before — Green Dot bought Bonneville Bank back in 2011, and there have been a few others, but it’s far from a trend — yet. But that kind of change is what […].
Chris Skinner
AUGUST 7, 2017
Just over a year ago, it was predicted that the skies would fall, the earth would open and fire and brimstone would rain down all over Britain if we voted to leave Europe. Our people ignored all the dire warnings – what do experts know? – and a year later, … The post Banks bloody battle over Brexit appeared first on Chris Skinner's blog.
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Bank Innovation
AUGUST 7, 2017
The Consumer Financial Protection Bureau (CFPB) wants the U.S. consumer “to know before you owe” banks overdraft fees. So how much do consumers owe? Try $15 billion, which according to the Bureau’s report last week is the amount U.S. consumers paid in overdraft fees in 2016. Although regulations require banks to get the consent of a […].
Chris Skinner
AUGUST 7, 2017
You may be aware that I am a Non-Executive Director of 11:FS. If not, have you not been awake for the past year, and the success the guys are having? Not only have they won some of the biggest digital bank transformation projects in Europe – beating the likes of … The post Sam Maule joins 11:FS 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
Accenture
AUGUST 7, 2017
Five themes are driving change in payments today. Individually they have a significant impact on the way we pay. Combined, these effects are amplified, creating a powerful force on the payments landscape, which, if you like, we can call Payments^5. Firstly, banks across Europe are preparing for PSD2 inJanuary 2018, much of it focused on building open API capability.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
AUGUST 7, 2017
Vantiv Integrated Payments — a Vantiv company and provider of payments technology and processing services for small and medium-sized businesses (SMBs) — announced news on Monday (August 7) that triPOS Cloud, a cloud-based API for easier and faster real-time payment processing, is now live. The company said the API is available for all independent software vendors (ISVs) and merchants to process point-of-sale (POS) transactions.
Abrigo
AUGUST 7, 2017
A national benchmarking report shows that professional staff turnover rates exceed 20 percent in 1 of every 5 accounting firms generating more than $75 million in annual revenue. With this in mind, it is no surprise that recruiting and staffing are major issues for firms trying to grow their advisory services. Indeed, Jeff Phillips, CEO of online staffing firm Accountingfly, is routinely told by accounting and consulting firms that they are struggling to recruit and hire.
PYMNTS
AUGUST 7, 2017
When it comes to earnings, a bit of accounting can make all the difference. The way Wall Street looks at earnings, and the way the average person might count earnings, though, are two different things. Let’s take the second scenario — what an individual might consider when examining the bottom line: money comes in, expenses are paid and what is left over is what is earned.
Let's Talk Payments
AUGUST 7, 2017
One of the top 10 insurance companies in Italy – BNP Paribas Cardif – is building tomorrow’s insurance on this new paradigm: innovate to prevent, assist and protect. At its.
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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
AUGUST 7, 2017
Bitcoin, the leading cryptocurrency, jumped more than 16 percent on Saturday (August 6) to an all-time high of $3,360.87 before hovering around $3,303, propelling market capitalization to more than $54 billion. According to a news report in CNBC , the virtual currency has more than tripled in value since the start of the year and is up 15 percent in the early days of August.
Let's Talk Payments
AUGUST 7, 2017
A moment of ‘weakness’ turned into an opportunity Financial technology startups can undoubtedly be credited with accelerating the pace of innovation adoption in the financial services industry, and wealth management,
PYMNTS
AUGUST 7, 2017
Traydstream, one of the trade finance industry’s newest entrants, has already struck partnerships only a month after launching. The company announced news on Friday (Aug. 4) that it is partnering with Fujitsu subsidiary PFU and Lloyd’s List Intelligence. PFU will provide its scanning technology to Traydstream to integrate scanning services into its offering.
NCR
AUGUST 7, 2017
As contactless card transactions become increasingly common in markets such as the UK and on public transit globally, it seems inevitable that there will be growing concerns around the potential for fraudsters to exploit this form of payment. Past trends in the financial services industry have shown that criminals waste no time in finding weaknesses in new technologies to commit fraud.
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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
AUGUST 7, 2017
Many innovators end up in the business of commerce or technology because they are trying to solve a problem — usually their own. This is often a good or service they find they need, and that the market doesn’t offer, which sets off a light bulb and begins the cycle of innovation. Gerry Kelly didn’t have a problem so much as he had an interesting pair of pants.
Payments Source
AUGUST 7, 2017
Under PSD2, banks are expected to admit all vetted comers, but how they will connect to them is up to the individual parties, writes Raz Rafaeli, CEO of Secret Double Octopus.
PYMNTS
AUGUST 7, 2017
Apple has been having a tough go of it in China, but with the upcoming launch of the iPhone 8, there are hopes that it may be able to boost smartphone sales in the country. The Wall Street Journal , citing analysts, reported news that thanks to a growing population of affluent Chinese consumers, there will be demand for the high-end iOS device in the country.
Bobsguide
AUGUST 7, 2017
Last year, Wells Fargo surveyed CFOs and treasury executives and more half (55 percent) of the respondents identified foreign exchange (FX) as a primary concern. This concern stems – at least in part – from the fact that most CFOs now operate in environments where their MBOs.
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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
AUGUST 7, 2017
United Arab Emirates (UAE) regulators are setting out to establish a framework to guide the small business (SMB) crowdfunding market, news reports on Sunday (Aug. 6) said. The Dubai International Financial Center (DIFC) and its regulator, the Dubai International Financial Services Authority (DFSA) are reportedly looking to regulate the SMB alternative finance space as the UAE market grows and matures.
Payments Source
AUGUST 7, 2017
Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Amazon's limits; Fiserv offers more for Monitise; Capital One's budget app's closing; Shopify pushes voice tech.
PYMNTS
AUGUST 7, 2017
Overdraft fees cost U.S. consumers $15 billion in 2016, according to news from the Consumer Financial Protection Bureau (CFPB), the government watchdog that is out with a new report on the impact of bouncing checks in American finance. Overdraft fees increased 2.2 percent last year from 2015, with $11.41 billion going to U.S. banks, reported CNN. All told, the CFPB estimates $15 billion was charged by large banks, small ones and credit unions.
Payments Source
AUGUST 7, 2017
Unless security systems are implemented thoughtfully and provide a comprehensive view of an organization’s end-to-end security position they’re little more than a distraction, writes Luis Rojas, vice president of product management for cyber fraud and risk management at Bottomline Technologies.
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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
AUGUST 7, 2017
From pioneering the infinite social News Feed to breaking down consumers’ psychological barriers around privacy to driving politics and news (and fake news), there’s no denying that Facebook has transformed the virtual world, for better or for worse. The physical world? Not so much, though not for lack of trying. Facebook has tried the hardware thing a number of times to no avail, but that hasn’t stopped the social media giant from pursuing another new hardware venture — this time, a home smart
Payments Source
AUGUST 7, 2017
Bangladesh-based Bank Asia has partnered with global money transfer services via Englewood, Colo.-based Western Union, enabling consumers to send and receive funds via a network of 1,250 bank agents located in throughout Bangladesh.
PYMNTS
AUGUST 7, 2017
Icon Solutions announced news last week it had begun testing connectivity between its Instant Payments Framework (IPF) and U.S.-based limited liability company The Clearing House’s new faster payments infrastructure. The launch of a TCH gateway signals the information technology firm’s latest step in pushing for faster payments for banks.
Payments Source
AUGUST 7, 2017
With clients seeking a faster way to reimburse employees for expenses, Shoeboxed turned to payments technology provider Dwolla to help create Fetch.
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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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