Wed.May 15, 2019

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Lessons from leaders: Satya Nadella, CEO, Microsoft

Chris Skinner

Twenty years ago, I was doing a lot of work on business transformation and business process re-engineering (BPR). Most of the firms didn’t do transformation and viewed it as too risky. Instead they went for BPR for BPI … business process improvements. Incremental benefits rather than radical results. That was … The post Lessons from leaders: Satya Nadella, CEO, Microsoft appeared first on Chris Skinner's blog.

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Do You Really Want To Lend Below A 10% Debt Yield?

South State Correspondent

PROFITABLE BANK LENDING Commercial lenders should be aware of the important factors that drive customer behavior to borrow funds. Our clients borrow from us when they refinance debt, or purchase equipment, real estate, or finance working capital. However, there are three key elements that make debt especially appealing for borrowers. Commercial lenders that understand these three elements can better position themselves for success. .

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Things worth reading: 16th May 2019

Chris Skinner

Things we’re reading today include … World’s Largest Banks 2019: U.S. Takes Aim At Chinese Dominance A false rumor on WhatsApp started a run on a London bank Payday lenders face sharp criticism as complaints rise 130% Buffett’s Berkshire unveils $861 million Amazon stake Mel Gibson says new film ‘Rothchild’ … The post Things worth reading: 16th May 2019 appeared first on Chris Skinner's blog.

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What Just Happened At Finovate Spring 2019

South State Correspondent

Last week, Finovate Spring 2019 took place in San Francisco in which over 270 banks watched more than 60 companies each have seven minutes to impress you with a demo of their technology. This is speed dating for financial technology, and it is a fantastic way not only to look for new partners but to help your bank hone what is important to its vision.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Lyft, Mastercard Partner to Offer Instant Payment, Banking for Drivers

Bank Innovation

Lyft drivers will now be able to get paid immediately and plug into a broader banking and personal savings ecosystem. The ride-hailing service is working with Mastercard and payments company Payfare on a co-branded debit card called Lyft Direct Debit. Through it, drivers can be paid immediately regardless of the ride cost. They'll also be […].

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Finastra Hires Mark Miller as CFO

Bank Innovation

Banking technology giant Finastra has hired Mark Miller as chief financial officer. He replaces Rob Binns, who recently stepped down from the role. Miller previously served as chief financial officer at Marketo, a marketing automation software company that was acquired by Adobe in October 2018. He brings nearly 25 years of experience in tech, finance and […].

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Bitcoin Daily: Ripple’s XRP Rises To Top-Performing Crypto; Samsung To Bring Blockchain To Budget Smartphones

PYMNTS

Ripple’s XRP added more than 21 percent overnight to become the best-performing asset in the top 10 of coins, reaching $0.38. This has led some to predict that the digital coin could soon return to prices above $0.50. The surge comes after the announcement that XRP is now available to New York residents, which has brought in a new influx of funds. Despite its gains, some people are skeptical because XRP does not run a decentralized blockchain, and that it allows the potential reversibility of tr

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Wealthbox CRM Integrates with SS&C in Effort to Save RIAs Time

Bank Innovation

Wealthbox CRM, a web-based customer relations management company, believes it has the tools to save financial advisors precious time. “CRM in the wealth sector has been overly complex, and there’s money to be made around that complexity,” Wealthbox CEO John Rourke said in an interview with Bank Innovation. "From CRM classroom and software training to […].

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Is Social Banking The Key To FIs Capturing Gen Z?

PYMNTS

Persuading customers to choose one bank over another is never an easy task, and it’s only become more challenging in the saturated digital banking space. Today’s customers expect more features and support from their mobile and digital banking tools, and coming up with the right customer service and engagement has become essential for banks and FinTech firms looking to grow their user bases.

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The State of Automation in Financial Services 2024 Report

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

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Compliance Concerns Remain an Obstacle to Tech Upgrades, Study Finds

Bank Innovation

Despite the importance bank executives place on innovation, a significant number believe their banks lack the technology to invest in disruptors. Indeed, in a study released by Fenergo, the client lifecycle management software company, one of every five C-suite executives don’t think their bank’s technology allows them to invest in disruptive innovation.

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Fixing Some Of The Big Problems In Payments And Commerce

PYMNTS

Cyber fraud can be a corporate killer if complacency sets in – but there’s an answer for that. There are also fixes in the works when it comes to business travel expense management. Artificial intelligence is set to fuel all kinds of innovations, and Visa is certainly making its plans. Meanwhile, fresh PYMNTS research takes a deep dive into trade credits and what could be improved in that area.

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Why We Need Bank Innovation Build

Bank Innovation

There is a revolution going on inside banking. And that’s not just a cheap cliche. It is this revolution that has led us to present Bank Innovation Build, our newest conference, on Nov. 6-7. Allow me to explain: A few days ago, Dana Maor, a senior partner at McKinsey, wrote that the consultancy believes “that […].

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Call Centers Get Smarter — Thanks To AI

PYMNTS

Call centers are experiencing increasingly greater volumes, with more than 55 billion agent-assisted calls being handled each year in the U.S. alone. Any business with a call center needs an efficient way to respond to this high volume of customer inquiries. To maximize call centers’ capabilities and efficiency, operators are turning to a host of tools and technologies, including voice recognition and artificial intelligence (AI).

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Using Single- and Multi-Channel Fraud Detection to Prevent Elder Financial Abuse

Abrigo

May 15 is National Senior Fraud Awareness Day , and while it is crucial to have a date to call attention to the nefarious actors that target the elderly, it is even more critical to make sure your institution is catching all forms of fraud that affect your customers or members, no matter their age. Your fraud detection software needs to use single- and multi-channel fraud detection to ensure certain types of fraud are not going undetected , costing your institution and customers/members hundreds

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To Optimize Supply Chains, Big Data Must Have The Need For Speed

PYMNTS

Supply chain management strategies are top of mind for many organizations at a time when Brexit, trade disputes, tariffs and an overall sense of geopolitical volatility have businesses recognizing the need for resiliency through operations and business partners. In this environment, blockchain has surfaced as a technology heralded by many as the disruptive force that can address some of the modern threats to supply chains, from cyberattacks to vendor risks.

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ETFsâ?? liquidity under question

Bobsguide

Despite disagreement over the liquidity level of exchange traded funds (ETFs) thanks to the volume number of funds that are traded off-exchange, ETFs remain liquid, said Deborah Fuhr founder of ETFGI at a conference in London this week. However, not everyone agrees. Europe’s Market in.

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Staring Down The Sharing Economy’s Big Trust Moment

PYMNTS

One of the more interesting – and perhaps even amusing – parts of human nature comes from the assumptions we attach to examples of growth and success. Once someone proves himself a winner, or something proves itself a winning proposition, many of us, despite knowing better, give into assumptions that growth and success will keep on flowing with relatively minimal effort.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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A blockchain startup seeks to duplicate Amazon's control of payment data

Payments Source

A Brooklyn startup predicts a mix of blockchain and AI can give retailers a referral and conversion model like Amazon and eBay, but the merchants will have to cede some data control.

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Retail Sales Seesawing In 2019

PYMNTS

Retail sales in the U.S. declined in April, according to the latest figures released by the Commerce Department. Retail sales were down 0.2 percent in April, following an unexpectedly large 1.7 percent jump in March (an upward revision of the 1.6 percent increase originally reported). It is the latest of conflicting economic data points that have reportedly left economists struggling to explain the mood of American consumers in 2019.

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T2/T2S Consolidation: Can digital transformation be an opportunity for liquidity management?

Bobsguide

The Eurosystem project to consolidate TARGET2 and T2S and to meet changing market needs by enabling a truly real-time 24x7 settlement infrastructure for cash, securities and collateral aims at increasing efficiencies and optimising liquidity management across all TARGET Services. The go-live is.

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WeWork Announces $3B Fund To Invest In Its Own Rentals

PYMNTS

WeWork , which recently renamed itself The We Company, has built a multibillion-dollar valuation with its business model of renting out spaces. The company now wants to expand into owning the buildings as well, according to a report from CNBC. The company is starting a “global real estate acquisition and management platform” to purchase stakes in buildings that it plans to lease, according to a press release.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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Artificial intelligence is the final straw for B2B checks

Payments Source

While in its infancy in influencing B2B payments, AI ultimately will change the way businesses of all sizes run their financial operations, writes Rene Lacerte, CEO of Bill.com.

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American Express To Acquire Resy

PYMNTS

To build on its growing suite of digital-first benefits that go beyond rewards and points, American Express announced on Wednesday (May 15) that it has inked an agreement to acquire the Resy reservation platform. The deal, which is expected to be completed this summer, is part of the company’s aim to become an essential part of the digital lives of card members and merchants, the company said in an announcement.

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Firms yet to grasp legal tech in Libor transition

Bobsguide

A lack in resources due to pressure from upcoming regulations, and failure by regulators and associations to come to a consensus on how to navigate the transition away from Libor means firms should ensure they have the legal technology ready to survive the next couple of months, both lawyers and.

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Taking The Chaos Out Of Lunch With B2B Delivery

PYMNTS

Lunch can be a surprisingly inefficient time of day for office workers, or at least for the restaurants that serve them. In an era when it is easy for everyone to order a meal and have it delivered, a lot of workers choose that option. And while everyone doesn’t order from the same restaurant, there is certainly a lot of overlap, and therefore the possibility for many redundant trips.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.