Chris Skinner
JANUARY 17, 2019
I found it interesting to hear that many of the banks focused upon digital are studying, visiting, talking to and hiring people from the Big Tech firms. People with experience at Netflix, Alibaba, Amazon and Tencent are in strong demand, especially those who can code. I always remember the comment … The post Digital banks look more like Big Tech and vice versa appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 17, 2019
U.S. e-commerce retailers need to overcome their concerns about selling across borders, as many of the concerns about engaging in the international market are based on common misconceptions.
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Bank Innovation
JANUARY 17, 2019
The tide is turning, says Pagaya CEO Gal Krubiner. The idea that investors need to look their asset managers in the eye is going away, just as visits to the bank branch are on the decline. This will happen in asset management, Krubiner says, because the proof will be in the returns. Pagaya uses data science […].
Chris Skinner
JANUARY 17, 2019
Things we’re reading today include … Another thing you may not know about Bitcoin: it’s killing the planet | Ethan Lou JPMorgan board raises Dimon’s compensation to $31 million Citi appoints veteran banker as new Emea chief End of subscription traps as Mastercard plans ‘end of free trial’ warnings Demand … The post Things worth reading: 18th January 2019 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
JANUARY 17, 2019
There is a lot going on in fintech and digital banking around the world, not just the U.S., where Bank Innovation is based. The editorial team is compiling a biweekly list of three events that we believe will make waves in the fintech and digital banking landscape. Malaysia switches to realtime payments Malaysian banks went live […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 17, 2019
The country's largest banks are still shutting down branches, despite claiming to be investing in them. Each of the four largest banks closed at least two dozen branches during the fourth quarter of 2018 alone. Bank of America closed 44 branches during the quarter ended on December 31, based on its financial report released yesterday. […].
PYMNTS
JANUARY 17, 2019
Apple Pay, in a move that will let users in Australia skip credit card fees at places that support EFTPOS (electronic funds transfer), now has support for dual-network debit cards, according to reports. Previously, the default Visa payment option had users pay a fee they otherwise wouldn’t have had to fork out if they were using a physical card. The feature, called “Choose Payment Option,” allows an Apple Pay user to decide whether they want to use Visa or EFTPOS on a dual-network card.
Bank Innovation
JANUARY 17, 2019
JPMorgan Chase & Co. remains the clear leader among the largest U.S. consumer banks in terms of mobile banking use, fourth quarter earnings released this week show. The bank has counted the most active mobile users of the big four U.S. banks for years, and there are no signs of that changing. With 11% year-over-year […].
PYMNTS
JANUARY 17, 2019
Traditional eCommerce and brick-and-mortar merchants aren’t the only organizations that market luxury goods like handbags. ShopGoodwill.com , an eCommerce auction platform that was created by Goodwill of Orange County and is still operated by the organization, offers the same kinds of items on its site. Over 120 Goodwill organizations nationwide put items on the site.
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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
JANUARY 17, 2019
U.S. regulators have taken a greater interest over the last year in technology startups promising to reinvent finance. This newfound attention is compelling the biggest names in fintech to prioritize a part of their business that’s often ignored. Several financial-technology companies are looking to staff up in regulatory compliance, according to job posting data reviewed […].
PYMNTS
JANUARY 17, 2019
Tim Cook, Apple’s chief executive who has emerged as a powerful privacy advocate, has called on the U.S. Federal Trade Commission (FTC) to put in place a new framework to increase the transparency of companies that handle user data. According to a report in CNBC , in an op-ed piece for Time Magazine published Wednesday (Jan. 17), Cook said consumers should be able to track where their data is going and delete any information on demand.
Payments Source
JANUARY 17, 2019
The numbers behind Fiserv's deal to acquire First Data are huge, particularly considering each company's existing tonnage still makes consolidation the best play when faced with nimble fintechs and mobile startups.
PYMNTS
JANUARY 17, 2019
You know your stature by the enemies you make, right? That’s the old saying at least. Well, “enemy” might be too strong a term — business is not war — but Square this week found itself a target of First Data and Fiserv , two big payments players merging in a $22 billion deal that will result in a consolidated organization called Fiserv. When talking about the deal, Fiserv CEO Jeffery Yabuki described Square as a threat to traditional banks.
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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.
Payments Source
JANUARY 17, 2019
In sectors such as health care and B2B, digital communication is rapidly shoving paper processes to the side, according to David Yohe, vice president of marketing at BillingTree.
PYMNTS
JANUARY 17, 2019
Netflix, which recently announced its largest price increase in more than a decade, said Thursday (Jan. 17) that it added 8.8 million memberships in the fourth quarter of 2018 — 1.5 million in the U.S. and 7.3 million internationally. Those additions came as the streaming content service severs sign-up ties with the Apple App Store — a move that promises to add to Netflix’s coffers while dealing a significant blow to the iPhone maker.
Payments Source
JANUARY 17, 2019
The Fiserv-First Data deal, valued at about $22 billion, will combine two of the financial services industry's largest technology and processing companies.
PYMNTS
JANUARY 17, 2019
The evolution of payroll is all about pushing back against the notion of one-size-fits-all. As innovative technologies move down stream, small and medium-sized businesses are poised to benefit significantly from being able to customize a flexible payroll and human capital management (HCM) program. Employees and a shifting talent landscape have introduced the demand for payroll flexibility.
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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.
Insights on Business
JANUARY 17, 2019
IBM will be hosting IBM Think 2019 from February 12-15 this year at a new location in San Francisco, CA. And the conference holds an impressive line up of education and activities for financial leaders focused on: Reshaping the customer experience with new business models supporting an integrated ecosystem-based marketplace. Digitally transforming operations, operating models and technologies to compete in a changing industry structure.
PYMNTS
JANUARY 17, 2019
Chief executives across the globe are bracing for a recession on the horizon, but when it comes to CEOs in the U.S., cybersecurity ranks higher as a concern. According to a new survey by The Conference Board, U.S.-based CEOs ranked cybersecurity as their No.1 external concern for this year. That compares to China, where it ranked 10th in terms of external worries.
Insights on Business
JANUARY 17, 2019
Regardless of how hard you try to design and implement the annual sales compensation plans, there is a risk that your compensation plans will not drive the right sales behaviors, motivate the sales team with clear priorities, help retain sales people, and improve high sales satisfaction for the long-term. These all can be seen as pillars that are in the best interest of the sales organization, the business, and the year ahead.
PYMNTS
JANUARY 17, 2019
Square announced Thursday (Jan. 17) the Square Card, a business debit Mastercard aimed at helping businesses manage cash flow. In a press release , the payments company said Square Card users get a 2.75 percent instant discount on purchases made at other Square sellers. “As sellers make crucial spending decisions, we know that fast access to funds – and the ability to put proceeds from sales to use immediately – can help with overall cash flow management,” said Alyssa Henry, seller lead at Squar
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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.
Bobsguide
JANUARY 17, 2019
Banks risk taking a “retrograde step” and irritating customers if they attempt to implement secure customer authentication (SCA) “in a technically easy, but not particularly consumer-friendly way,” according to Envestnet Yodlee vice president for EMEA, Matt Cockayne.
PYMNTS
JANUARY 17, 2019
Financial technology services company WEX is going to acquire Discovery Benefits (DBI) , an employee benefits administrator, the company announced on Thursday (Jan. 17). DBI has more than one million consumers in 50 states, and with its account administration tech and services, it’s a key player in the consumer-facing healthcare system. WEX ’s health division has been partnered with DBI for more than 10 years, and DBI has used WEX’s healthcare tech platform to oversee a large slice of its
Payments Source
JANUARY 17, 2019
For the U.S. to move forward, education will be required to teach users how to utilize new technology to manage their finances, says Katy Gibson, vice president of product applications at Envestnet Yodlee.
PYMNTS
JANUARY 17, 2019
General Electric ‘s divestiture of GE Capital assets continues as MUFG Union Bank announced plans to acquire GE Capital’s Trade Payable Services (TPS) operations. In an announcement on Wednesday (Jan. 16), MUFG Americas and GE Capital said MUFG Union Bank will acquire GE Capital’s supply chain finance platform for an undisclosed sum. “The acquisition of this world-class platform accelerates MUFG’s growth trajectory in supply chain finance, and broadens our presence
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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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