Chris Skinner
APRIL 30, 2018
Everywhere around the world, I find politicians and bankers in dodgy practices. It’s because power and money go together. We’ve seen this clearly in EU and USA with LIBOR, CDOs, PPI, bribes, parties, prostitutes and more, and I was reminded of it when seeing a presentation the other day by … The post Banks charged dead people fees for a decade appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 30, 2018
EXCLUSIVE— As open banking sweeps through Europe with the launch of PSD2, GDPR, and other regulations focused on transparency, North American financial institutions might want to consider looking to blockchain or artificial intelligence for their own compliance challenges. This is according to Richard Arundel, general manager, North America for financial technology provider Currencycloud, who noted […].
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Chris Skinner
APRIL 30, 2018
I just got a report from J Walter Thompson on the future of money and there’s some interesting facts and stats. Here are my headlines: 76% of millennials are looking for new forms of banking 40% of people in their twenties have downloaded a money management app 80% of millennials … The post The future of money (research report) appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 30, 2018
EXCLUSIVE- The genesis of Bill.com, a cloud-based cash flow management software for SMBs, came to René Lacerte when he was still leading his digital payroll services company PayCycle. “Payroll and B2B payments is a huge painpoint for small and medium sized businesses,” Lacerte told Bank Innovation. “The idea behind creating a Bill.com was to address […].
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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
APRIL 30, 2018
Benjamin Franklin is best remembered as a signer of the Declaration of Independence in 1776 and a prolific inventor who created the lightning rod after flying a kite with a key on it in a thunderstorm. A little known fact, perhaps, is that Franklin is credited with inventing two things that almost every person has used — or will — at some point in their lifetime: swimming fins and bifocals.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
APRIL 30, 2018
Things we’re reading today include … Lloyds, Halifax and Bank of Scotland customers locked out of online accounts Music downloads can gauge consumer vibe – Bank of England ‘We’re on our knees’: Inside the totally avoidable TSB crisis TSB CEO and chair to face grilling by MPs over IT chaos … The post Things worth reading: 1st May 2018 appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 30, 2018
EXCLUSIVE— While the debate over whether cryptocurrencies are actually currencies, securities, or somehow a mix of the two drags on, there’s another question crypto enthusiasts should ask: does it matter? The question of whether to consider cryptos securities flared to life again last week, after former U.S. regulator Gary Gensler noted that in his mind, […].
PYMNTS
APRIL 30, 2018
Ripple has announced that five new customers across Europe and Asia will use xVia to power payments over RippleNet, its blockchain network. The companies partnering with Ripple are FairFX (U.K.), RationalFX (U.K.), Exchange4Free (U.K.), UniPAY (Georgia), and MoneyMatch (Malaysia). xVia is an API solution enabling payment originators (those sending a payment on behalf of a customer, but not actually processing and paying it out) to access RippleNet.
Bank Innovation
APRIL 30, 2018
Many Americans have doubts about cashless payments. That’s because they don't think it is a secure method. A new report commissioned by eWallets-focused startup GATE titled, “The Future of Payments Report: Cash is No Longer King,” showed that 43% of Americans don’t believe cashless payment methods to be secure. Then, 38% of Americans worry about […].
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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
Payments Dive
APRIL 30, 2018
TNS' Terminal Management Service has helped a firm with 15,000 POS terminals realize cost savings of 30% over its incumbent provider. Read our case study to find out more.
PYMNTS
APRIL 30, 2018
Get ready for a shift in the meal kit landscape, according to Chef’d CEO Kyle Ransford. In the latest Topic TBD with PYMNTS’ Karen Webster, which explored the preparation and delivery of food rendered as a service, Ransford predicted that “I think the subscription meal kit as it’s been known will be vastly diminished in the next two years. It won’t be something that you hear a lot of or get marketed to a lot.
Insights on Business
APRIL 30, 2018
The countdown clock to GDPR – the General Data Protection Regulation of the European Union (EU) – is being closely followed by business leaders in Europe and around the world as it moves towards its May 25, 2018 deadline. While this harmonized data protection law was designed to give EU citizens more control over their personal data, there is no doubt that GDPR is having a more widespread effect due to the fact that many corporations are global in nature.
PYMNTS
APRIL 30, 2018
Going too slow these days is a costly error to make, as consumers don’t have the patience to wait for their merchants to catch up. If a purchase takes too long to complete, customers will migrate to another site where things move more smoothly, according to this month’s Checkout Conversion Index. And while it’s an exaggeration to state that customers are all turning to Amazon , the eCommerce giant’s latest earnings release indicates a lot of them are.
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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.
Bobsguide
APRIL 30, 2018
The financial sector, while forging ahead in other areas of digital transformation, has been relatively slow to adopt the cloud and there has been good reason for it: banks have to deal with highly sensitive data, so sharing data storage and computer resources with others may in some cases not even.
PYMNTS
APRIL 30, 2018
With a threefold increase in the number of corporates who had been hit by a ransomware attack in the last year compared to a year prior, corporate treasurers have been forced to swallow the large, uncomfortable pill of the threat of cyberattacks and fraud on their organizations in a short amount of time. But Strategic Treasurer , which highlighted that statistic in its latest Treasury Fraud & Controls survey report sponsored by Bottomline Technologies, found an impressively high level of opt
Payments Source
APRIL 30, 2018
Given the scant use of cryptocurrencies for payments relative to their use for investment, some companies are rooting for the kind of government oversight and monetary policy that used to be considered an assault on the alternative currency movement.
PYMNTS
APRIL 30, 2018
National Small Business Week is this week in the U.S., and finance experts are celebrating with new data on the state of the entrepreneurial community. The verdict, overall, is quite good: Small business optimism is, again, at new heights. But analysts from Bank of America, Square, Navcom and the National Association for the Self-Employed warn that challenges for some SMBs have reached new heights, too.
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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.
Payments Source
APRIL 30, 2018
Younger adults who regularly use mobile payments are more likely to take financial risks and rack up fees, according to a new financial literacy study by the George Washington University School of Business.
PYMNTS
APRIL 30, 2018
The deadlines for compliance with new European data regulations are right around the corner, and the impact of these changes won’t be limited to the European Union. According to Ethoca, neither should preparations for the shift. The General Data Protection Regulation (GDPR) goes into effect on May 25 of this year. Additionally, the strong customer authentication (SCA) mandated by the second Payment Services Directive (PSD2) goes into effect in September of 2019 — and yes, that too counts as “rig
Independent Banker
APRIL 30, 2018
“The future is ours for the taking. We own what will happen next.”. Rebeca Romero Rainey, president and CEO of ICBA. As I pen my first column for the newly revamped Independent Banker as ICBA’s president and CEO, I’m filled with a tremendous amount of pride and optimism. I am proud of what ICBA has accomplished over its 88-year history and optimistic about what the future holds for community banks.
PYMNTS
APRIL 30, 2018
Home shopping used to mean something quite different in the United States than it does today. In the pre-digital, pre-web and pre- Amazon world, shopping at home meant shopping from the couch — from TV channels like QVC or HSN , but a similar model no matter which way one went. Each program would feature a genial host hawking directly to consumer wares, perhaps some “Diamonique” jewelry.
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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.
Payments Source
APRIL 30, 2018
A Delaware company's plotting to use blockchain to blow the lid off of supply chain inefficiencies and be the main catalyst behind Asia's burgeoning open markets and electronic payments initiative.
PYMNTS
APRIL 30, 2018
Startup Amaryllis made an appearance at TRANSACT 18 in Las Vegas April 16 through 19 – the company’s first 10-by-10 booth at a major conference, noted CEO Mark Bishopp , and an experience that was right in line with the startup’s goal to make 2018 “the year of getting the word out” about Amaryllis. According to the Electronic Transactions Association (ETA), TRANSACT brings together all parts of the payments ecosystem – from ISOs/VARs to ISVs and large financial institutions to technology compani
Bobsguide
APRIL 30, 2018
National and regional interests have helped to determine the shape of financial regulations in recent years, but politicians and regulators have acknowledged the need to consider the global nature of markets when constructing them. It could be good news for financial technology providers.
PYMNTS
APRIL 30, 2018
Earlier this month, the world watched as Facebook CEO Mark Zuckerberg faced an intense barrage of questions from U.S. lawmakers about how his company can better protect its users’ data following the Cambridge Analytica breach. The social media platform has admitted the incident may have impacted as many as 87 million users. During the exchange, lawmakers raised the specter of regulating Facebook — which boasts more than 2.2 billion worldwide users — including legislation that would require it to
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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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