Chris Skinner
MAY 17, 2018
I’ve often been hired to run a workshop or presentation at a bank’s boardroom meeting. Usually, I’m hired by the frustrated digital guy who wants to convince the rest of the leadership team that it’s important. They don’t get digital, he or she will tell me, so you must make … The post What is the preference: human or digital relationships? appeared first on Chris Skinner's blog.
Payments Dive
MAY 17, 2018
Tom Chittenden, vice president and general manager of retail solutions, NCR Corp., writes about how the reinvention happening in retail is pushing more merchants towards the cashierless model.
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Bank Innovation
MAY 17, 2018
Visa doesn’t see much use for blockchain in its core business, which is transactions at scale, according to CEO Alfred Kelly. At the JPMorgan Technology, Media and Communications conference in Boston yesterday, Kelly said: Remember blockchain actually is not very good about facilitating low-value high-volume scale transactions, which is the core of what we do. […].
Chris Skinner
MAY 17, 2018
Things we’re reading today include … TSB customers complain about fraud alert failures Banks abandon interest-only home loans amid FCA scrutiny of ‘mortgage prisoners’ Germany most likely to win the World Cup, say UBS number-crunchers Expensive remittances Defusing mortgage timebomb ‘like Space Invaders’ PayPal acquires Swedish payments firm iZettle Home … The post Things worth reading: 18th May 2018 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
MAY 17, 2018
Citibank unveiled an improved mobile app experience for its Phillippines market with added features for billpay, funds transfers, and PFM. Updates include faster authentication and a feature called Mobile Snapshot, which allows users to check their balance without having to log in, one time pin or OTP for an online bank transaction, and Touch ID. The […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
MAY 17, 2018
Behavioral data about Hispanics’ use of digital payments is scarce, but the sector as a whole spends more than $1.4 trillion annually and its population growth rate significantly outpaces the mainstream, based on U.S. Census Bureau data.
PYMNTS
MAY 17, 2018
It’s happened again. Wells Fargo on Thursday (May 17) was facing accusations that its employees altered customer data, this time in a business banking unit, according to The Wall Street Journal. The paper, citing unnamed sources, reported that bank employees “improperly altered information on documents related to corporate customers.”. There is no evidence that any data involved creating fictitious accounts for retail consumers, as was the case in the scandal from about two years ago.
Bobsguide
MAY 17, 2018
GDPR outlines six principles that organizations need to abide by. These principles aren't new - they were already outlined in the 1995 directive, but GDPR has revised them slightly. We delve into each principle below: 1. Lawfulness, fairness and transparency.
PYMNTS
MAY 17, 2018
Days after iZettle said it planned to seek a listing on the NASDAQ Stockholm stock exchange, PayPal Holdings Inc. has announced that it is acquiring the Swedish payments company for $2.2 billion in cash. With the deal, which may close in the third quarter, iZettle’s co-founder and CEO, Jacob de Geer, will reportedly continue on with iZettle, TechCrunch reported.
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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 Source
MAY 17, 2018
For cryptocurrency entrepreneurs in particular, many of whom are just developing the anti-money laundering programs they are required to have under other FinCEN rules, the CDD rule is worth taking note of, writes Laurel Loomis Rimon, senior counsel at O'Melveny & Myers LLP.
PYMNTS
MAY 17, 2018
Sometime around the year 2000, small business (SMB) owners woke up one day and realized they needed a website. The case for SMBs having their own websites is so clear as to be moot today, but that wasn’t the case in the early days of the World Wide Web. Businesses could be forgiven for failing to see the value of staking a claim on their corner of the web.
Payments Source
MAY 17, 2018
Fintechs attending Consensus 2018, the annual cryptocurrency event, said they found promise for a market still trying to find a path to unified operations and wider acceptance within financial services.
PYMNTS
MAY 17, 2018
Square may be closing in on PayPal a bit, with the company’s monthly downloads of the Square Cash app increasing at a faster rate. Barron’s , citing a research report issued this week by Nomura Instinet, reported that monthly downloads of Square Cash are happening at a faster clip than PayPal’s Venmo mobile payment service. According to the Wall Street firm, Venmo’s lead has shrunk from around five million in the middle of last year to around one million since July.
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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
MAY 17, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Google brings wearable payments to more countries; Selfie pay reaches Kuwait; Bitmain invests in Circle; Use cases emerge for government virtual currency.
PYMNTS
MAY 17, 2018
As eBay ramps up its personalization efforts, the eCommerce marketplace has rolled out a feature that curates its wide selection of inventory to match the passions and styles of individual shoppers. The feature — dubbed “Interests” — uses data and algorithms to match users with hundreds of shopping themes from streetwear to sports teams, eBay said in an announcement.
Payments Source
MAY 17, 2018
Both executives have changed the cryptocurrency narrative with supportive statements, but attracting merchants to a payments market will require work.
PYMNTS
MAY 17, 2018
To get a sense of why some apps succeed while others don’t, pay some heed to Klout. Which has none – clout, that is. Or soon, it seems, operations. The app, which calculates scores based on their influence within social media circles, will close next week on May 25. Lithium Technologies, which is the company that bought Klout four years ago for roughly $200 million, has decided to shut down that site.
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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
MAY 17, 2018
PayPal is reportedly looking to acquire iZettle—often called the Square of Europe—in a move that could blunt Square’s prospects in key markets.
PYMNTS
MAY 17, 2018
Legacy systems can be a problem across the board in the payments industry, and corporate deposits are no different. Many of the remote deposit capture (RDC) systems in place today have been around for 15 years or longer. Dave Wilson, Founder and Chief Architect at DadeSystems , says even if these RDC systems are still technically functional, they offer diminishing returns as the other systems they must interface with become increasingly advanced.
Payments Source
MAY 17, 2018
Barclays hired Adam Kelleher from BuzzFeed to build a new global team of data scientists to support the company's research department.
PYMNTS
MAY 17, 2018
Just seven years after going private, BJ’s Wholesale Club has filed for an initial public offering (IPO), The Wall Street Journal ( WSJ ) reported. The deal could value the Westborough, Massachusetts-based, membership-only warehouse chain somewhere between $2 billion and $3 billion. When private equity partners Leonard Green & Partners and CVC Capital Partners took the company private in September 2011, the deal was worth almost $3 billion.
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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
MAY 17, 2018
"It was a difficult decision, but we’re at a good spot to do this,” Finch, 55, said in an interview.
PYMNTS
MAY 17, 2018
It’s being treated as victory — perhaps a mild one, but still a win — for workers in the so-called gig economy : A recent ruling from the California Supreme Court makes it more difficult to classify people as independent contractors instead of employees. The decision comes amid increasing pressure to revise how gig workers are paid, a trend that promises to shape how the companies operating in that world conduct business.
William Mills
MAY 17, 2018
– Co ntent centered on ‘Disrupting and Delivering a Better Customer Experience’ by focusing on what’s happening next in fintech – Atlanta is a leader in transactions, a processing powerhouse, and home to global fintech companies and start-ups, which makes it the ideal city to host the Technology Association of Georgia ’s (TAG) first annual FinTech South conference.
PYMNTS
MAY 17, 2018
Airlines often face a common dilemma when it comes to some of their routes: How do they fill empty seats and ensure their flights are fully booked? Rama Poola came to a possible solution after flying around the world and noticing that flights aren’t always sold out. He created a subscription service called SkyHi that provides flyers with access to deals on routes that aren’t at capacity.
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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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