Payments Dive
JULY 19, 2018
The combination of mobile banking and biometric security in our smart devices will enable consumers to have more confidence regarding their personal security and will be far safer than it has ever been.
Bank Innovation
JULY 19, 2018
Posting $10 billion in revenue for Q2’18, up 9% from the same quarter last year, American Express‘s post-market earnings call reveals a battle for a strategic partnership, which Amex won against JPMorgan Chase. A question was fielded from Donald Fandetti, managing director, Wells Fargo on competitive intensity: Could you talk a little bit about the […].
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Chris Skinner
JULY 19, 2018
Things we’re reading today include … The cashless society is a con – and big finance is behind it Why You Should Bank Without a Branch The Australian bank customers who lost everything HSBC’s Global Head Of Digital Says The Bank Is “Cautiously Looking” At Crypto Use Cases How easy … The post Things worth reading: 20th July 2018 appeared first on Chris Skinner's blog.
Bank Innovation
JULY 19, 2018
Fintech partnerships paid off for Fifth Third Bank this quarter. The largest gains came from the bank’s ownership stake in the payment processing company Worldpay, formerly Vantiv. The sale of five million shares of common stock of Worldpay resulted in a $205 million pre-tax gain. As of June 30, the earnings report notes, Fifth Third owns 3.3% of […].
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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
PYMNTS
JULY 19, 2018
American Express has filed for a blockchain-based proof of payment technology, and Santander U.K. entered into an agreement with Infosys Finacle. Traditional banks and other financial institutions are undergoing tremendous pressure right now to compete in an environment where they are faced with enormous scrutiny from government regulators looking to mitigate risk.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 19, 2018
It’s a phrase that can cause several types of jobsite headaches — stepping away from a project to hit a hardware store with petty cash, for instance, or calling the boss to gain approval to go over a card spending limit. “ Spend management ” is hardly the sexist buzzword in payments and commerce, but the practice is developing to a point where many of those headaches are being reduced — a process that can also lead to more revenue.
Bobsguide
JULY 19, 2018
A new report has found that only one in 10 fintech startups succeed, with seed/angel investment dropping by 57% between 2010 and 2017. In 2010 average seed funding was $6.84m, a figure that fell to just $3m despite total funding rising from $205.3m to $851m, reinforcing the growing.
PYMNTS
JULY 19, 2018
It’s no secret that banks and FinTechs are collaborating at a rate faster than ever before. Where once traditional finance companies viewed tech-driven service firms with caution and even a bit of skepticism, the realization more recently has been that joint efforts can reap dividends. There’s the long-term lure, of course, of increased customer headcount and cross-pollination of new revenue streams.
Bobsguide
JULY 19, 2018
Once an unsexy, compliance-driven, back-office function, enterprise risk management has risen to the halls of c-suite offices. ERM’s value proposition is not just in quantifying risk, but also in identifying potential opportunities and strategic thinking from the top down. When selecting an.
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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
JULY 19, 2018
Coinbase says that it hasn’t received approval from two U.S. watchdogs for three acquisitions, Cryptovest reported. The firm reportedly told Bloomberg that it had received approval from the Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission (SEC). However, Coinbase VP of Communications Rachael Horwitz told Bloomberg that “Coinbase has discussed aspects of its proposed operations … on an informal basis with several members of SEC staff.”.
Payments Source
JULY 19, 2018
India's regulatory approach shows it's serious about supporting myriad international payment technology plays, in contrast to China's doing the bare minimum to satisfy international pressure for openness.
PYMNTS
JULY 19, 2018
TheStreet may have been focused on top-line shortfalls, but beyond the headline numbers, American Express (Amex) posted results for the second quarter that showed double-digit percentage growth across a number of key metrics, including card-billed business and the company’s lending business. The headline numbers, then: Total revenues gained 9 percent to $10 billion, just shy — by $50 million — of Street expectations.
Payments Source
JULY 19, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: It's Fed chair Powell's turn to criticize bitcoin; Blast rounds up payments for consumer savings; Crytpomining malware spikes; Singapore bank launches e-commerce for baby care.
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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
JULY 19, 2018
Despite being home to Africa’s biggest mobile phone market, Nigeria is seeing a decline in banked adults in the country. According to a report in Bloomberg , financial inclusion in the African country has declined close to 4 percentage points from 2014 to 2017, now standing at 39 percent at the same time that the Sub-Saharan African average of banked people increased more than 8 percentage points to 43 percent.
Payments Source
JULY 19, 2018
U.S. Bancorp reported record net income of $1.7 billion for the second quarter on record net revenue of $5.6 billion, and corporate payments growth stood out as a key driver.
PYMNTS
JULY 19, 2018
Change typically brings confusion and some level of chaos, and that’s true for merchants trying to win over foreign shoppers and master cross-border payments — achievements that can provide a revenue edge as eCommerce continues to grow across the world. And digital technology’s ongoing work of tying together global markets, combined with the spread of FinTech , is leading to the problem of payment fragmentation.
Payments Source
JULY 19, 2018
American Express has spent years developing new marketing alliances and acquiring programs to shed its reputation as a card for the elite. But its success still hinges on premium cardholders.
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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
JULY 19, 2018
Consumers have a seemingly endless range of entertainment choices in the libraries of big-name streaming services like Netflix , Amazon Prime and Hulu. But for consumers who are fans of specific genres, extensive libraries can feel superfluous. That’s why, in recent years, several genre-specific subscription streaming services have emerged to help fans narrow their content search.
Payments Source
JULY 19, 2018
The Fort Worth, Texas, company will be competing in a segment of the U.S. card market that has grown more competitive in the last few years.
PYMNTS
JULY 19, 2018
The summer season is here, and while most of us tend to associate that with spending on sunblock, grilling meats and bathing suits, the reality, particularly for American parents, is that summer is also the time to start spending for the next school year. While by the end of July school is a distant memory for most children, by early August parents have not only been thinking (or daydreaming) about their beloved children returning to school, they’re almost halfway through their shopping fo
ATM Marketplace
JULY 19, 2018
From settling disputes to cementing loyalty, video monitoring systems offer any number of benefits to an ATM deployer. However many there might be besides the eight listed here, they add up to one overall benefit for both the provider and the end user: peace of mind.
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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
JULY 19, 2018
The Federal Trade Commission Chairman Joseph Simons told lawmakers Wednesday (July 18) that he will look at the European Union’s move to fine Google $5 billion for antitrust violations pertaining to the Android mobile operating system. Reuters , citing comments Simons made during a hearing in front of lawmakers, reported the FTC head said he spoke with European Competition Commissioner Margrethe Vestager about the fine earlier in the week.
ATM Marketplace
JULY 19, 2018
Read this INETCO and Fiserv whitepaper to explore of how customer centricity and profitability are redefining the scope of ATM and self-service channel Availability.
PYMNTS
JULY 19, 2018
Amazon raked in $4.2 billion from shoppers during this year’s Prime Day event, which is an increase of 33 percent from last year’s Prime Day. Bloomberg , citing an analysis from Wedbush Securities analyst Michael Pachter, reported that based on company-released information such as that it shipped more than 100 million products during the 36-hour event and that small and medium-sized business sold more than $1 billion of products on the platform, he came up with the $4.2 billion estimate.
ATM Marketplace
JULY 19, 2018
Read this guide to help your organization identify scenarios where better access to real-time transaction data will help you improve return-on-investment (ROI).
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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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