Chris Skinner
NOVEMBER 8, 2017
I’m involved in quite a lot of start-ups, ICOs and funds these days, and recently started a mini-series of interviews with them, as I think it will be of interest to readers of my blog. In the second of this series, I’m interviewing Andrew Zimine, CEO and founder of Exscudo. Hi … The post Introducing Exscudo appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 8, 2017
Apple has launched its person-to-person payments service in the U.S. The feature lets users send and receive money through iMessage. Apple’s payments offering is now available in iOS 11.2 beta. Users will notice an Apple Pay button in their iMessage. Through iMessage, money will be transferred instantly to another user’s Apple Wallet, in the form […].
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Chris Skinner
NOVEMBER 8, 2017
I was listening to someone talking about monolith versus microservices structures recently, and they likened it to an old car versus a new one. Old cars were made of metal and welded together into a solid machine where, if any part breaks, you have to replace the whole machine. The … The post Throwing technology over the wall appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 8, 2017
EXCLUSIVE – BNP Paribas opened Chinese mobile payment service WeChat Pay to its retail partners in Europe today. The payment solution will first debut at two flagships stores owned by retail conglomerate Galeries Lafayette Group in Paris. The plan is to gradually add WeChat Pay to all its other retail partners across Europe. The idea behind […].
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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
NOVEMBER 8, 2017
When it comes to business, it’s no secret the competition is fierce. But in an increasingly interconnected world, even competing companies need to collaborate. Rival banks and financial institutions (FIs) need to work together to serve customers and transfer money between banks. Car dealers need parts from competing suppliers and manufacturers to keep repair shops and vehicles running without a hitch.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
NOVEMBER 8, 2017
Things we’re reading today include … A London startup has managed to make banking cool among hipsters Bank of Amazon? Facebook Financial? Regulator could open banking to tech giants Revolut is applying for a European banking license to become a true bank State Bank of India Launches Blockchain Technology-Based Know … The post Things worth reading: 9th November 2017 appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 8, 2017
EXCLUSIVE – Green Dot has leveraged its bank-as-a-service in deals with both Apple and Intuit. The company announced on its earnings call yesterday that it was powering the newly announced Apple Pay Cash P2P payment service, as well as offering a prepaid card to customers of Intuit’s TurboTax software. Here’s CEO Steve Streit yesterday on the […].
PYMNTS
NOVEMBER 8, 2017
Pundits prophesy a cashless society — and indeed, vast swaths of consumers are migrating to digital and mobile channels for many of their banking needs, as shown by a decline in the number of brick-and-mortar retail bank branches. Viewing account balances, paying bills or depositing checks are now as easy as tapping or swiping and a quick thumbprint scan on the consumer’s mobile device.
Bank Innovation
NOVEMBER 8, 2017
A major vulnerability was revealed in the popular Ethereum wallet Parity yesterday, but the news hasn’t stopped the meteoric rise in value of the world’s second-most valuable cryptocurrency. Parity Technologies revealed to the world that the contents of its multisig wallets could be “wiped.” The bug is the second so far in 2017 for Parity.
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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
NOVEMBER 8, 2017
While we at PYMNTS.com would never applaud crime, we do have to credit Cheyenne Amber West of Fort Pierce, Florida, with boldness for her recent attempts to scam Walmart of more than $1,800 in consumer electronics. Boldness, but not brains, because while we can’t help admitting it was gutsy of her to try and slip nearly $2,000 in merchandise past self-checkout while only actually ringing in $3.70, it really wasn’t a very well thought-out plan.
Bank Innovation
NOVEMBER 8, 2017
EXCLUSIVE— Online lender LendingClub Corp. reported revenue at an all-time high, growth in loan originations, and declining losses during its third quarter earnings yesterday, but its guidance for the fourth quarter has sent its stock plummeting. LendingClub stock fell 22% in the hours after the company’s earnings call. The decline comes after the company’s CFO, Thomas […].
PYMNTS
NOVEMBER 8, 2017
Ethereum , the competing digital currency to bitcoin , was dealt a blow on Tuesday (Nov. 7) when a vulnerability in a cryptocurrency wallet froze as much as hundreds of millions of dollars. According to a news report in TechCrunch , Parity Technologies – which makes the hugely popular wallet Parity – said an issue could cause the contents of the wallets to be erased.
Bank Innovation
NOVEMBER 8, 2017
London-based fintech Revolut is the latest European startup to apply for a banking license, the company said today. Revolut, which offers pre-paid cards to its customers, is hoping that the move will draw customers away from incumbent banks. Revolut expects to receive the license in the first half of 2018. It applied for the license […].
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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
NOVEMBER 8, 2017
Help yourself: Unattended retail just got more seamless and widespread with USA Technologies ’ acquisition of Cantaloupe Systems, Inc. The deal is expected to close by the end of this week, according to a press release by USA Technologies. The company put a total of $85 million into the deal: $65 million in cash and $20 million in stock. USA Technologies powers cashless and mobile payments in self-service retail settings — think Starbucks ordering kiosks and Home Depot key-cutting machines, for
Bank Innovation
NOVEMBER 8, 2017
EXCLUSIVE – U.S. Bank added a location service to its mobile service that will include all the bank’s credit, debit, prepaid and digital cards. The new feature is part of the bank’s larger strategy of creating a mobile banking app that is comprehensive and in tune with the customer needs and demands, Jason Tinurelli, senior vice […].
PYMNTS
NOVEMBER 8, 2017
Help yourself: Unattended retail just got more seamless and widespread with USA Technologies ’ acquisition of Cantaloupe Systems, Inc. The deal is expected to close by the end of this week, according to a press release from USA Technologies. The company put a total of $85 million into the deal: $65 million in cash and $20 million in stock. USA Technologies powers cashless and mobile payments in self-service retail settings – think Starbucks kiosks and Home Depot key-cutting machines, for example
Bank Innovation
NOVEMBER 8, 2017
Hong Kong-based mobile lender, WeLab announced that it raised $220 million in a Series B funding round today. The round included big names like Chinese e-commerce giant Alibaba, Credit Suisse and World Bank’s International Finance Corporation. This latest round of funding brings WeLab’s total to $425 million. WeLab was founded in 2013, and now has over […].
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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
NOVEMBER 8, 2017
It seems AmazonFresh is past its expiration date in certain markets. In case you missed it: The eCommerce giant announced on Friday (Nov. 3) that it would be phasing out the grocery delivery service in parts of New Jersey, Pennsylvania, Delaware, Maryland, California, New York, Connecticut, Massachusetts and Virginia. More specifically, it’s phasing out service in suburban areas.
Bobsguide
NOVEMBER 8, 2017
Late last month Swedish fintech Tink announced that secured an additional €14m in funding to scale up its financial aggregator operation and move into new markets. The major investor in the tech company, and one its early adopters, is Nordic bank SEB. bobsguide sat down with Rasmus.
PYMNTS
NOVEMBER 8, 2017
After running a three-store pilot approximately one year ago, home improvement and appliance chain Lowe’s has announced news it will partner with software-powered electronics retailer b8ta to launch its “Smart Home powered by b8ta” connected-home shopping experience. The collaboration will be available in 70 Lowe’s storefronts nationwide. Envisioned as stores-within-stores, the Smart Home shop is intended as a destination shop for gadget-enthused customers looking for ways to smarten up t
Let's Talk Payments
NOVEMBER 8, 2017
The ability to develop and adopt hi-tech has been widely attributed to the startup community rather than to corporate players. The year 2018 will be very different – corporations are.
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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
NOVEMBER 8, 2017
Ongoing struggles for toy retailer Toys R Us are peeling back the curtain on the risks of supply chain finance , some experts say. Tuesday (Nov. 7) reports in the Financial Times said the delicate balance of payments through the supply chain led to what Toys R Us called a “dangerous game of dominoes.” In September, the toy retailer’s plans for bankruptcy led suppliers to either stop shipping products to the company or demand cash on delivery.
Gonzobanker
NOVEMBER 8, 2017
Competition for information technology professionals is at an all-time high, and demand is exceeding supply. Unfortunately for banks and credit unions, the financial services industry has a reputation for being dull and boring, and many of the Generation Y and Millennial workers that bring advanced and specialized skills to the table are looking for careers in the high-tech industry, not financial services.
PYMNTS
NOVEMBER 8, 2017
Intuit-operated QuickBooks has dabbled in small- and medium-sized business (SMB) financing in the past, but an announcement made Tuesday (Nov. 7) reveals it is now going full-force into the SMB lending space. In the news release, the company said it is launching QuickBooks Capital and becoming a direct lender to small business customers in need of working capital.
Payments Source
NOVEMBER 8, 2017
Call centers are becoming a prime target for fraud due to some shockingly lax controls and the ease of social engineering attacks in an environment where employees are trained to put the customer first.
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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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