Payments Dive
MAY 4, 2018
Real-time payments infrastructure officially arrived in the U.S. with the launch of The Clearing House RTP system in November. Will the technology ultimately prove to be, as predicted, "one of the most important payment transformation efforts in our industry"?
Bank Innovation
MAY 4, 2018
Crowdfunding is on the rise. A recent report by Statista Digital Market Outlook shows that by 2022, crowdfunding could grow to $57 billion globally, with China being the leader in this area. To put the number in perspective, in 2017 $14.5 billion was raised by crowdfunding. So, $57 billion in a span of four years would […].
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PYMNTS
MAY 4, 2018
FLEETCOR Technologies , a provider of commercial payment services, reported a data breach as the company announced on Thursday (May 3) a 17 percent year-over-year revenue increase for the first quarter of 2018, beating analyst expectations. In its earnings statement, FLEETCOR said that on April 26, it “identified suspicious activity primarily on systems involving the company’s Stored Value Solutions gift card business.
Bank Innovation
MAY 4, 2018
With global remittances expected to grow by more than 4% this year, providers are utilizing mobile and other digital technologies to ensure sending money between countries is easier than ever. China, the world's most populous country, has citizens all over the world, and huge amounts of money are flowing back and forth, which should make […].
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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
MAY 4, 2018
Amazon Business is introducing a new invoicing feature that could impose cash flow pressure on sellers, according to AuctionBytes. The blog posted excerpts from an email reportedly sent by Amazon Business to U.S. sellers on the B2B eCommerce platform, advising them of the launch of Pay by Invoice. The feature, which requires no action or onboarding on the part of the vendor, enables corporate buyers to make invoiced purchases.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
MAY 4, 2018
To find companies that may be using software to fix prices, EU regulators may create their own algorithms. European Competition Commissioner Margrethe Vestager said that it’s now easy for price collusion to occur, Reuters reported. “It is a hypothesis that not all algorithms will have been to law school,” Vestager said at an event on Friday (May 4).
Bobsguide
MAY 4, 2018
It's no secret that the payment industry has come a long way. From 1997, when Authorize.net started it all by collecting transactions by fax and email, the developments have been extraordinary. Today, we are looking at a rapidly evolving industry, from instant payments, thousands of payment.
PYMNTS
MAY 4, 2018
Cheers to the up-and-comers: the new and emerging forces that are transforming how people around the world think about payments and commerce. They can be found in the B2B scene, in the explosion of the P2P market and in the rapid expansion of the gig economy — m ore and more companies are going global and trying to figure out how to make their funding motion match.
Payments Source
MAY 4, 2018
Payment collections will never be easy, but the availability of so much data and the means to make meaningful sense out of it with AI and advanced analytics is helping collections firms be more efficient and smart about their interactions, writes Scott Kendrick, vice president of marketing at CallMiner.
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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
MAY 4, 2018
In a distributed denial-of-service (DDoS) attack this week, the website of a county election commission in Tennessee went offline during a mayoral primary. Despite the disruption, Knox County reported that the cyberattack did not impact the results of the election, TechCrunch reported. “Tonight, our web servers suffered a successful denial-of-service attack,” Knox County wrote on Twitter on Tuesday (May 1).
Payments Source
MAY 4, 2018
The plaintiff, investor Ryan Coffey, is seeking unspecified damages and a declaration that Ripple Labs and Chief Executive Officer Bradley Garlinghouse sold unregistered securities. Coffey is seeking to proceed on behalf of all purchasers of Ripple tokens.
PYMNTS
MAY 4, 2018
No doubt you’ve heard of Moore’s Law. The premise put forth by Gordon Moore states that the number of transistors per square inch on integrated chips double every year. That’s held true over decades, and now the length of time is about one and a half years. The trend is slowing inexorably, indicating that the speed of those processors will not double at that 18-month rate.
Payments Source
MAY 4, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Instagram adds payments; Alipay introduces money market funds for spare change; Ireland plans a fintech census; Reddit will resume bitcoin payments; California gets more cyrptocurrency ATMs.
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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
MAY 4, 2018
Amazon U.K. released its latest survey of small business (SMB) sentiment in the country, finding an increase in confidence the company attributes to greater technology adoption. Reports in Business Leader covered the SME Growth Tracker published last week, conducted quarterly by Capital Economics and commissioned by Amazon U.K. and Enterprise Nation.
Bobsguide
MAY 4, 2018
On average the populations of major Western societies are getting older. In the UK, in less than two years, the number of consumers aged 65 or over will rise by over a million and in little over 20 years one in seven people will be over 75 years of age. While this will bring challenges for the.
PYMNTS
MAY 4, 2018
With MoviePass ’ booming movie ticket subscription success, it’s unsurprising a competitor is looking to steal away some of their cinema-enthused customers. Sinemia launched four years ago in Europe and is now offering up some very low-cost options for movies tickets. For $4.99 per month, a user can get one ticket per month; for $6.99 per month, the amount goes up to two tickets per month; $9.99 per month nets two tickets per month, including 3-D, 4-D and IMAX showings; and finally, $14.99 per m
Payments Source
MAY 4, 2018
There are lot of PINless debit transactions available to capture, and First Data's migration to dual messaging on Star supports any method a consumer may choose at the point of sale.
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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
MAY 4, 2018
The U.S. dollar may not be a universal currency, but there are some who would prefer to be paid in the currency anyway, even if it’s not the coin of their home country. That’s because some developing economies are so unstable that workers are losing money by accepting and keeping their earnings in local currencies. “People in certain countries around the world can’t preserve their wealth because they’re trapped in a money system where the local currency is always losing its value,” Ruben Galindo
NCR
MAY 4, 2018
For every financial services provider operating today, digital technologies and channels are a key part of the mission to deliver the highest possible standard of customer experience. Digitization brings huge opportunity, not only to maximize availability and convenience for the consumer, but also to streamline processes, reduce costs and enhance efficiency for the bank.
PYMNTS
MAY 4, 2018
Walmart is far along in discussions with Flipkart for a controlling stake in the Indian eCommerce marketplace, but Flipkart ’s board hasn’t yet firmed up the deal. However, a source close to the matter said a resolution could happen in a matter of days, Reuters reported. Flipkart’s board agrees with engaging with Walmart “in principle,” but a few other issues, such as taxation, need to be ironed out before a deal can be made.
FICO
MAY 4, 2018
Thames Water , the UK’s largest provider of water and wastewater services, is using FICO collections systems to provide customer-centric collections. In the first seven months of using FICO® Debt Manager ™ solution and FICO® Risk Intervention Manager , Thames Water collected £10 million using these services, and has accelerated payments from customers for Thames Water at a lower cost.
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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
MAY 4, 2018
Regulators and analysts in the U.K. have brought attention to the nation’s plight against late supplier payments, but a new report from Euler Hermes warns this is a global issue — one that is worsening and raising the insolvency risk. Reports in The Financial Times on Thursday (May 3) said Euler Hermes, a trade credit risk insurance provider, found the average number of days it takes a company to pay a supplier (Days Sales Outstanding, or DSO) has reached 66 days around the world, an increase o
Bobsguide
MAY 4, 2018
Today's editor's picks looks at the Open Banking picture: how the industry is currently managing the initative, how they are reacting to PSD2's fallout and what provisions they are taking for a future driven by Open Banking. Barclays PayPal pact goes beyond Open Banking.
PYMNTS
MAY 4, 2018
Virginia is suing one of the largest online lenders in the U.S. after reportedly charging Virginians millions in interest and fees. In a lawsuit, the state alleges that NetCredit lent more than $47 million in illegal high-interest loans, The Daily Press reported. According to the lawsuit, NetCredit provided loans to over 47,000 Virginians going back to 2012.
Payments Source
MAY 4, 2018
The hackers gained entry to affected systems through a client-access portal and the company’s internal monitoring systems detected the intrusion.
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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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