Bank Innovation
JUNE 5, 2018
The cashless society we’ve been promised is still years away, and in the meantime, ATM innovation continues. A new venture between Mastercard and Diebold Nixdorf, a global ATM provider, sits at the intersection of mobile transactions and cash. Mastercard Cash Pick-up, announced yesterday, enables users to have cash dispersed without a bank account or even […].
Payments Dive
JUNE 5, 2018
Apple Pay, Google Pay and Samsung Pay aren't going anywhere, but U.S. consumers are not enthusiastic about using them at the physical point-of-sale. But the industry could do some things to help bump adoption and incentivize merchants to accept NFC-enabled mobile payments.
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Bank Innovation
JUNE 5, 2018
Businesses produce data every second, while some of it can help an organization make data-backed decisions about business activities, much of it will sit in data warehouses never to be seen again. But some companies have become data masters and found ways to use data not just to innovate but create change within their industry. […].
Chris Skinner
JUNE 5, 2018
My second and last day at Money2020 Europe was packed with networking, meetings, panel discussions, private events and more. Throughout the day, the themes of the first day kept bubbling over. I guess it was typified with the comment that the CEO of TransferWise announced how happy they are to … The post #Money2020Europe Day Two: Don’t mess with my data appeared first on Chris Skinner's blog.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Bank Innovation
JUNE 5, 2018
Security breaches continue to be an ever-present threat for financial institutions. Defending against attacks and authenticating customers without creating undue friction is something financial institutions have not yet completely solved. Consumers seem to be willing to use more secure methods to access their accounts, but not necessarily give up on ease and speed of transacting. […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JUNE 5, 2018
Card-issuing platform Marqeta sees a lot of potential in working with challenger banks across Europe, and to fuel this opportunity, the Oakland, Calif.-based company took in $45 million in funding, Jason Gardner, founder and CEO, told Bank Innovation. Investors in this funding round include VC firm ICONIQ Capital and Goldman Sachs. The new round, announced today, […].
PYMNTS
JUNE 5, 2018
Millennials are finally moving out of mom and dad’s house and creating their own households, which has increased demand in the housing market. At the same time, supply has taken a hit due to a shortage of skilled labor. Rising mortgage rates and lumber prices are only compounding the problem. This imbalance of supply and demand is proving to be a perfect storm for home improvement chains.
Bank Innovation
JUNE 5, 2018
The German challenger bank N26 surpassed one million users, the bank announced yesterday -- a significant feat for any neobank. The bank has doubled its customer base since last August. To put this in perspective, U.K.-based challenger bank Revolut, which just last month reached unicorn status thanks to a $250 million series C funding, claims […].
PYMNTS
JUNE 5, 2018
The first baby born on the blockchain is expected to enter the world at a small clinic in rural Tanzania this week. What does that mean – to be born on the blockchain? Has the world finally gone too far with its distributed ledger obsession? Just the opposite, Niall Dennehy, COO of AID:Tech would argue – more like it’s finally found a use case that is more practical and more noble than cryptocurrencies.
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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
Insights on Business
JUNE 5, 2018
When you think of technologies that are changing the way the banking industry conducts business, is your first thought chatbots? Many people think it’s cognitive computing or artificial intelligence, but when was the last time you walked into a bank; waited in line to ask your favorite bank teller a question; and grabbed a yellow lollipop pop on your way out?
PYMNTS
JUNE 5, 2018
McDonald’s has not had an easy road. It had to continually rebrand itself to keep up with changing consumer sensibilities around health. It has also had to shift strategies to keep up with competition from other QSRs — which is no longer just about the “burger wars” between McDonald’s, Burger King and Wendy’s , but has expanded to the breakfast hour as more chains crowd into the category that — for a while at least — set McDonald’s apart.
Bobsguide
JUNE 5, 2018
On the sidelines of Money20/20, held in Amsterdam this week, bobsguide caught up with Nick Cook, head of regtech and advanced analytics at the UK’s Financial Conduct Authority (FCA). What’s on the FCA’s agenda at the minute, concerning technology capabilities? All of the.
PYMNTS
JUNE 5, 2018
Citi is the first corporate bank to enroll in the U.K.’s Open Banking Directory in an effort to enhance payment and collection services for business clients, the FI said Monday (June 4). Citi announced it is joining the Directory as a Payment Initiation Service Provider (PISP), enabling the bank to pilot payment and collection services for its corporate customers. “We see open banking as a significant development in the banking landscape in Europe and increasingly in other regions, a
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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
JUNE 5, 2018
One thing is clear: This outage, however brief, undermines the card networks' ability to market themselves as the fundamental platforms for a new era of payments technology.
PYMNTS
JUNE 5, 2018
Blockchain probably won’t solve all the world’s financial problems, as devoutly as innovators and enthusiasts may hope and believe that it can. At any rate, it’s not going to solve all of them at once with the technology available today. Esther Pigg, SVP Product Strategy of FIS , says blockchain’s potential benefits will instead be discovered gradually, and will change the industry even more gradually.
Payments Source
JUNE 5, 2018
Incumbent bank wires and checks, for example, carry slow settlement times and poor exchanges rates, while some newer fintech alternatives lack the interoperability with one another to scale and sometimes prioritize speed over security, writes Peter Shore, general manager of Transpay.
PYMNTS
JUNE 5, 2018
After launching its CitiConnect application programming interfaces (APIs) last year, Citi ‘s Treasury and Trade Solutions (TTS) continues to expand the platform. Since its rollout, Citi has processed more than 18 million API calls for account balance inquiries, payment initiation and payment status, the company said in an announcement. Through the API, CitiConnect offers information on account statements, direct debits and FX rates, among other data.
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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
JUNE 5, 2018
Geoswift has launched an inbound P2P money transfer service in China — offering the flip side of its core services supporting tuition and other corporate payments for Chinese students, workers and tourists who are outside of their home country.
PYMNTS
JUNE 5, 2018
It won’t be medicine — or manufacturing, human resources, commerce or logistics. No, when it comes to the biggest immediate impact that artificial intelligence (AI) will have upon the world, financial services will likely take that honor — a looming prize that provides fresh opportunity to consider how machines will overcome bias. Anyone who reads the news or follows science fiction knows how important AI is becoming to business, and how much change it will almost certainly bring to civilization
Payments Source
JUNE 5, 2018
Marqeta Inc. may never be a household name, but its behind-the-scenes payments services have attracted plenty of attention. The fintech startup announced Tuesday that it is raising $45 million from investors including Iconiq Capital, the family office with investors including Jack Dorsey and Mark Zuckerberg, and Goldman Sachs Group Inc.’s investment bank.
PYMNTS
JUNE 5, 2018
Consumers who want to hire a home services professional to, say, fix a broken air conditioner, are sometimes faced with a dilemma: Who do they call for a repair? When on-demand home services platform Lula debuted in 2015, there weren’t a ton of options, but the market has since changed. Large companies, such as Facebook , are now forging partnerships with platforms to bring home service providers onto their marketplaces.
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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.
Bobsguide
JUNE 5, 2018
Founded in 2010, Metro Bank has seen rapid growth in its 8 years of existence, gathering some 1.5m customers. Young enough to be called a challenger yet using a business model more closely aligned with the high street banks of old, Metro Bank is in limbo between both camps in the great.
PYMNTS
JUNE 5, 2018
With SunTrust Robinson Humphrey projecting that Amazon ’s private label business could see revenues of $25 billion by 2022, SunTrust analyst Youssef Squali said the venture could send shares up more than 21 percent over the next year. As a result, he increased his price target from $1,900 to $2,000 a share, CNBC reported. “As strong an eCommerce platform as Amazon has become over the last 20 years, we believe that the best has yet to come,” Squali wrote in a note on Monday (June 4).
Payments Source
JUNE 5, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Citi embraces open banking for U.K. business; Ripple invests in blockchain studies; Paysafe's iPayment acquisition closes; Singapore and India will share fintech innovation.
PYMNTS
JUNE 5, 2018
After committing $5 billion to investments in India, Amazon reportedly wants to increase its investment by $2 billion. With the additional capital, the eCommerce retailer could better compete with Walmart in India, CNBC reported. “Amazon has had its eyes and ears firmly on the ground and has been carefully planning its strategy,” an unnamed source told CNBC affiliate CNBC TV-18.
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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.
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