Chris Skinner
APRIL 24, 2018
Another conversation about Open Banking, and an interesting point was raised by one bank. They said that they had been mapping financial moments – getting married, buying a house, having a baby, crashing your car, etc – and had started to reimagine the whole customer experience in those moments using … The post The bank’s view of Open Banking appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 24, 2018
EXCLUSIVE - Known as one of the first technology companies in Europe to procure a German banking license, solarisBank has lofty ambitions for 2018. That plan, according to Timo Weber, VP of strategy and internationalization, is to add 50 more partners over the course of the year. “A big part of our effort this year […].
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Chris Skinner
APRIL 24, 2018
There’s a quote I’ve stolen off John Oliver that bitcoin combines everything you don’t understand about finance with everything you don’t understand about technology. It’s a great line, and considering banking and technology are probably some of the most complicated things in our world, one that hits the nail on … The post Why techies laugh at finansers and vice versa appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 24, 2018
Royal Bank of Scotland will launch a new mobile bank and plans on moving one million of its NatWest customers to there, according to Forbes. NatWest Bank is a fully owned subsidiary of RBS. NatWest, formally called National Westminster Bank, currently has about 7.5 million retail customers. How RBS will determine which customers get moved to […].
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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
Payments Dive
APRIL 24, 2018
Through Friday, June 15, Networld Media Group is accepting entries from innovative, consumer-focused financial institutions and fintech providers whose unique strategies and technologies are heightening the consumer experience.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
APRIL 24, 2018
Companies recognize the need for IoT security, but few are acting on those concerns. According to a recent survey, 97 percent of respondents said an attack on unsecured devices would be devastating to their organizations. However, less than a third are actually vigilant about monitoring for third-party related risks. Despite the security risks, the popularity of IoT seems unlikely to abate.
Bank Innovation
APRIL 24, 2018
EXCLUSIVE— Cryptocurrencies are experiencing one of their highest points in recent weeks, after remarks made by former financial regulator Gary Gensler brought back concerns that certain tokens should really be considered securities. The remarks point to a reoccurring debate among cryptocurrency aficionados about the nature of digital currency, which is having its first positive movements […].
Chris Skinner
APRIL 24, 2018
Things we’re reading today include … High cost of more delay forced TSB to upgrade before it was ready | Nils Pratley Metro Bank founder Vernon Hill sees off shareholder revolt LSE directors ‘did not act improperly’ during boardroom crisis – but report kept under wraps TSB bank faces large … The post Things worth reading: 25th April 2018 appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 24, 2018
One of the first standalone money management services, Mint, is shutting down its bill payment feature, though users will still be able to track bills on the platform, the company stated this week on its blog. The shutdown of the feature will go into effect in just a few months on June 30, according to […].
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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
APRIL 24, 2018
It’s time for retailers to stop looking at brick-and-mortar like it’s dying. Traditional retail is changing, it’s true – and that has manifested as a fair amount of growing pains – but the perception that physical retail is a sinking ship may be leading merchants astray. Perhaps it’s better to think of modern retail as a chrysalis. Traditional retail was the caterpillar, inching along slowly but steadily, and somewhere ahead lies the magnificent butterfly of omnichannel, experiential, contextual
Bank Innovation
APRIL 24, 2018
Digital banking is bringing more consumers than ever into the fold of the financial ecosystem, especially as branches, and other physical products, wane in necessity: take non-prime Americans, for example. A group that often feels underserved by traditional banks, non-prime consumers are six times more likely to bank at an online-only financial institution compared with […].
PYMNTS
APRIL 24, 2018
Billionaire Bavaguthu Raghuram Shetty is combining Travelex and UAE Exchange under one parent company called Finablr in preparation for a possible initial public offering, according to Reuters. The UAE-based businessman announced on Monday the creation of Finablr as the business that will hold the financial services companies he controls. His son and executive in the family businesses, Binay Shetty, told Reuters the plan is to bring Finablr public on the London stock market at some point after
Bobsguide
APRIL 24, 2018
SWIFT has recently announced the extension of its global payments innovation (gpi) real-time payments tracker function to all (ie non-gpi) payment instructions, in an attempt to cement their position in the correspondent banking landscape. Hailed as a “game-changer” by Lars.
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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
APRIL 24, 2018
Is it time to mark the passing of the password? Don’t hang the crepe and black bunting just yet. But then again, the password’s breathing and pulse seem to be … perhaps a bit labored and slowed. Last week, the FIDO Alliance and the World Wide Web Consortium announced the launch of Web Authentication (WebAuthn), billed as a password-free browser. Standards bodies, then, are coming together to offer a standard protocol to hasten logins without using passwords.
Bobsguide
APRIL 24, 2018
SWIFT has today announced that HSBC has joined SWIFT global payments innovation (gpi), joining 50 banks that are already live from 150 that are committed to the gpi project. Hailed as a “game-changer” by Lars Sjögren, global head of transaction banking at Danske Bank, the.
PYMNTS
APRIL 24, 2018
In the 1980s, David Humble was at the grocery checkout counter when something unusual happened: A customer became frustrated with a cashier’s slow pace, so he simply scanned one of his purchases himself. That incident inspired Humble to develop a prototype for a self-checkout system. He combined a personal computer, an industrial computer and a video screen.
Payments Source
APRIL 24, 2018
Amazon's increasingly weird ideas for getting products to Prime customers — grocery delivery, in-home delivery and now in-car delivery — point to an unsettling conclusion: Amazon, for all its market dominance, is pushing the limits of who it can reach with traditional package delivery.
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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
APRIL 24, 2018
In the gig economy, high turnover means heavy lifting for firms seeking the right candidate. And with rules and regulations governing various service industries — from finance to ride-hailing — background checks are part of the hiring job of hiring. Against that backdrop, Checkr seeks to automate the process a bit by conducting background checks for thousands of customers.
Payments Source
APRIL 24, 2018
TransferWise is the first nonbank to become a member of the U.K.’s Faster Payments service (FPS), but with Brexit on the horizon, it has to make sure it is similarly invested in other markets.
PYMNTS
APRIL 24, 2018
Months after delivering packages inside customers’ homes, Amazon begins delivering purchases inside customers’ cars. The free service is only available to Prime members in certain cities and vehicles, CNBC reported. “Amazon Key In-Car Delivery supports most 2015 model year or newer Chevrolet, Buick, GMC, Cadillac and Volvo vehicles with an active connected car service plan such as OnStar or Volvo On Call,” the retailer wrote on its website.
Payments Source
APRIL 24, 2018
The timing is right for Congress to act sooner rather than later, defining what Is legal and establishing regulations, writes Cathy Beardsley, president and CEO of Segpay.
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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
APRIL 24, 2018
With the advent of technology and the prevalence of online shopping, the term eCommerce fraud has become more general and more vague. Under it, there are numerous types of categories and attacks. Of these, none are more insidious than Account Takeover, aka ATO. It’s more difficult to catch, and the ensuing damages for both merchants and unsuspecting customers go beyond just stolen goods.
Payments Source
APRIL 24, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Travel agency changes crypto converters; Cross-border payments as a retail recovery play; Bottomline Technologies adds a new API; A bank's rough technology conversion causes data breach.
PYMNTS
APRIL 24, 2018
Marketplace lending platforms – Lending Club, OnDeck, Prosper and the like – have inarguably and fundamentally altered the geography of the lending landscape. In the last decade, they’ve gone from being a niche product to representing about a third of unsecured consumer loan volume in the United States as of 2016, according to a r ecent study by Harvard Business School Professor Boris Vallee and University of Washington Professor Yao Zeng.
Payments Source
APRIL 24, 2018
Amazon.com Inc. has partnered with General Motors Co. and Volvo Cars to deliver packages to car trunks in 37 U.S. cities, as the e-commerce giant seeks new delivery methods for customers who may be wary of leaving packages outside or allowing couriers into their homes.
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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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