Fri.Mar 30, 2018

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Midsize Banks Need To Have Technology Innovation to Stay Relevant

Bank Innovation

Banks need to update their legacy systems and modernize their technology, no surprise there. But just how many operational leaders at banks think their institution’s survival depends on it? That would be 79% of operations leaders in North America banks, according to a recent report by Accenture. That’s four out of five banks. The report […].

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Mobile Payments Today: March's best reads

Payments Dive

It's time for a look back at last month's most-read articles and blog posts on Mobile Payments Today.

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Trending Sources

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Messaging App Telegram Raises $1.7B in ICO

Bank Innovation

The messaging app Telegram has raised more money with its initial coin offering, logging another $850 million, the SEC reported yesterday. This brings the total amount raised via the offering to $1.7 billion, making it the largest initial coin offering in history. This follows the company’s raise of $850 million in February with its first […].

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UK Bank Industry Trade Group Launches Review Of SMB Mistreatment

PYMNTS

UK Finance , an industry trade association, is launching an independent investigation into the way the market’s banks treat small businesses (SMBs), according to Reuters reports on Thursday (March 29). The group appointed Simon Walker to lead the review, which will specifically look at the way banks handle complaints filed by small business borrowers.

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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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Barclays Shuts Down Online Banking Services on Easter Weekend

Bank Innovation

Barclays customers across Europe will not be able to use their mobile banking app this weekend. The major U.K. bank said it will be switching off access to 24 million customers as the bank restructures itself as required by national regulation. These changes were established by the Bank of England in 2011, and is referred […].

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More Trending

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Australian NeoBank Judo Capital Will Focus on SME Banking

Bank Innovation

Melbourne-based challenger bank Judo Capital will be focusing its efforts on small business banking in Australia, according to banking plans unveiled by the challenger yesterday. Judo, which is run by former head of National Australia Bank’s business sector Joseph Healy, has also applied for a full banking license with the Australian Prudential Regulation Authority, Healy […].

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Whole Foods May Test 10 Percent Prime Discount

PYMNTS

It’s possible that Amazon Prime members may see more discounts at Whole Foods. The grocer reportedly displayed signs that advertised 10 percent discounts for prime members at a store in Texas, CNBC reported. The signs were reportedly placed in a store in Austin on Wednesday (March 28). But the signs had apparently been removed by Thursday (March 29).

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Bitcoin’s Worst Quarter Yet as its Value Plummets below $7K

Bank Innovation

Bitcoin has reached a new low today, dropping below the $7,000 mark. This drop, represents a 51-day low, marking the most well-known cryptocurrency’s worst quarter yet, according to reports. In fact, a report by CNBC says this price-drop has shaved off as much as $114 billion off its value. Currently, as of 10.00 AM ET […].

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Payroll Cards Get A Jump-Start On Faster Payments

PYMNTS

When it comes to faster payments, B2B payments aren’t necessarily chomping at the bit for the capability. According to NACHA statistics on Same Day ACH, nearly 2 million debits were made in just the first 11 days of service, accounting for a combined $1.5 billion in funds. The vast majority of that volume and value, however, was in the form of business-to-consumer payments, while B2B transactions accounted for just 6 percent of this activity.

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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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Banks Need to Think of Their Customer Service in Terms of Seconds, Not Minutes, Regions Bank Says

Bank Innovation

EXCLUSIVE—Consumers are impatient, and growing less and less inclined to fill out the long forms necessary to apply for a loan, mortgage, or other financial service. This is why banks need to use their treasure troves of data to make sure they don’t need to, Andy Hernandez, executive vice president and head of digital banking […].

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Walmart In Talks To Buy Humana In What Would Be Its Largest Deal Ever

PYMNTS

Walmart is reportedly in early-stage talks to acquire Humana, the insurance company, in a deal that could mark Walmart’s largest acquisition ever. Citing people familiar with the matter, The Wall Street Journal reported that it’s not clear what the deal terms being negotiated are or if a deal will end up happening. But if something is reached, it would likely be on the large side — given Humana has a market value of around $37 billion.

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ATM Marketplace: March Top 5

ATM Marketplace

This year, March roared in not so much like a lion as it did like a bear, on the heels of weak earnings reports in February from NCR, Diebold and Cardtronics. Happily, though our most-ready stories of the month offered a more optimistic view to carry us into spring.

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Bitcoin Daily: China Plans Crypto Crackdown, Mail Chimp Blocks Crypto And ICO Marketing

PYMNTS

Bitcoin fell below $7,000 on Thursday (March 29) – and analysts expect sales of bitcoin and other cryptos to increase as the April U.S. tax deadline approaches, CNBC reported. The price of bitcoin was $6,826.68 as of 11:13 p.m., according to CoinDesk. And, in China, the country’s central bank is planning on cracking down on cryptocurrencies this year, Reuters reported.

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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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Sip ‘n’ ‘Search: Official Research Pairing Guide

Filene

Like craft beers and rescue pets, Filene's research reports come with many rich flavors and complex personalities to provide you with one-of-a-kind experiences. We realize you have a lot of choices for how to spend your free time on weekends, but we know many of you enjoy digging deep into Filene's research library. We want to make your leisure reading this Sunday even more enjoyable , so Filene has created an official pairing guide for you.

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Under Armour Breach Exposed 150M MyFitnessPal Accounts

PYMNTS

Under Armour has revealed that it’s suffered one of the biggest hacks in history after data from 150 million users of its MyFitnessPal diet and fitness app was compromised in February. According to Reuters , Under Armour shares were down 3 percent in after-hours trade. “On March 25, the MyFitnessPal team became aware that an unauthorized party acquired data associated with MyFitnessPal user accounts in late February 2018,” the company wrote in a statement.

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Consumers ready to switch from passwords to biometrics, Visa finds

The Paypers

(The Paypers) Consumers are ready to leave the password behind and adopt biometrics, according to the results from a survey commissioned by Visa.

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US B2B Startups Dominate $337 Million Worth Of Funding

PYMNTS

Combined, more than $337 million in funding will fuel growth for an array of B2B startups that revealed their latest funding rounds this week. U.S.-based startups dominated, with investors focusing on cybersecurity solutions and on startups that aim to streamline back-office functions. PYMNTS breaks down the latest deals below. Cybersecurity. PreVeil.

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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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Is community bank small business lending eroding?

ABA Community Banking

Fed’s Quarles traces evolution of big bank and fintech competition Risk Management CSuite Credit Risk Community Banking.

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How Hershey’s Reached Consumers In Grocery Stores With Mobile Ads

PYMNTS

Jerky isn’t just a generic product available on the shelf of the local gas station or convenience store for hungry travelers. It has evolved into a lean, protein-filled snack for active, health-conscious consumers and athletes. KRAVE Jerky , for example, has expanded this culinary-inspired niche within the broader jerky category. And, by doing so, the brand was able to open the door for premium jerky that is now available in the aisles of premium markets.

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Tech ever-widening domain for community banks

ABA Community Banking

Looking beyond traditional means and traditional vendors Technology CSuite Community Banking.

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Snap To Fire 100 Engineers In Its Latest Layoff Round

PYMNTS

Snap , the parent company and creator of disappearing messaging app Snapchat , is laying off around 100 employees in order to focus on advertising. According to news from Bloomberg, citing people familiar with the matter, the additional layoffs represent the last step of the company’s restructuring process, which kicked off in the fourth quarter of 2017.

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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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Rethinking community banks’ future

ABA Community Banking

Not panic, but resolve—and some frustration. “Now is the time” CSuite Community Banking.

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Bitcoin, Other Cryptocurrencies Continue Decline Over Regulation Fears

PYMNTS

With fresh concerns about government regulation of cryptocurrency surfacing, Bitcoin and other digital tokens continued the recent declines in value, erasing $550 billion in value for the global cryptocurrency market since the start of 2018. Citing Japan’s Nikkei Business Daily , TheStreet.com reported that two cryptocurrency exchange startups took back their applications to the Financial Services Agency in Japan after they were told to beef up their security features.

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Rasmala Trade Finance Fund crosses USD 250 mln

The Paypers

(The Paypers) Rasmala Group , the alternative investment group, has announced that the Rasmala Trade Finance Fund has crossed USD 250 million threshold in assets under management.

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Amazon Launches Home Cleaning Service

PYMNTS

Amazon has been hiring house cleaners in Seattle as direct employees in an effort to boost its home services marketplace. The new housecleaning service, Amazon Home Assistants, offers cleaning services in Seattle, with prices determined by the size of the home and the number of visits. For example, a weekly cleaning of a 1,500-square-foot home runs about $156.

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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.