Bank Innovation
AUGUST 2, 2017
Fintech company Adyen won’t be going to the OCC (Office of the Comptroller of the Currency) for a U.S. banking charter anytime soon, even though the payments company procured a pan-European banking license less than two months ago. “We’re happy working with our banking partners in the U.S. markets,” Luke Salinas, senior vice president of strategy, told […].
Chris Skinner
AUGUST 2, 2017
I was trying to find someone who was optimistic about the future age after robots. Most are pessimists, and I’ve referred to them a few times now. They think the world is coming to an end and that mankind will have nothing to do when the robots do everything. Can … The post What will we do when we don’t need to work? appeared first on Chris Skinner's blog.
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Bank Innovation
AUGUST 2, 2017
Voice banking without voice commands? Welcome to the new USAA Alexa skill. USAA members will now be able to bank via Amazon Alexa, skipping all of the typical command memorization necessary for learning a new skill, thanks to conversational artificial intelligence built out by AI platform Clinc, the companies announced today. Rather, USAA members will […].
Chris Skinner
AUGUST 2, 2017
Things we’re reading today include … Deutsche Bank foresees 4,000 UK jobs to be shifted to the EU after Brexit Standard Chartered’s profit surge eclipsed by lack of dividend Australia’s Commonwealth Bank accused of massive money-laundering breaches PwC fined for Merrill Lynch compliance failure US regulator mulls banking rule reform … The post Things worth reading: 3rd August 2017 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
AUGUST 2, 2017
Apple Pay usage continues to grow on a global scale, but not so much when it comes to the U.S. The technology company’s mobile wallet remains the most popular choice for global consumers, responsible for about 90% of all NFC transactions, according to the company’s earnings call yesterday. However, most of those transactions are coming […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
AUGUST 2, 2017
Good news for FinTech startups: in the U.S., venture capitalists have been boosting their activity in the market, with Q2 FinTech investments regaining its strength, according to analysts at KPMG. The firm’s Pulse of FinTech report for Q2 2017, released this week , found overall FinTech funding in the U.S. increased to $2 billion in the quarter, up from just $500 million in Q1.
Payments Source
AUGUST 2, 2017
Plenty of U.S. merchants still working to complete their migration to EMV now have another high-pressure technology hurdle to worry about: Most are still using a core transaction security protocol set to expire in the next 11 months and if they don’t take appropriate action they’ll be unable to process transactions.
PYMNTS
AUGUST 2, 2017
Between automated checkout lines, online grocery ordering and meal kit services, it seems like the inexorable tide of progress is determined to wipe out millions of jobs across the retail and grocery sectors. And those are just the new technologies getting the most press. Financial services firm Cornerstone Capital Group projected that robots will capture between 6 million and 7.5 million jobs over the next 10 years, slashing the 16 million-strong retail workforce by 38 percent.
Let's Talk Payments
AUGUST 2, 2017
Believe it or not, tech-savvy millennials are ditching smartphone apps and mobile wallets in favor of a longstanding payment method – prepaid cards. Once thought of as an option used.
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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
AUGUST 2, 2017
Within the enterprise, there is an initial invoice associated with any purchase, but the payments don’t stop there. According to Apptricity CEO Tim Garcia, if a company buys, for example, a laptop or a fleet of several thousand vehicles, there are future payments associated with those assets, like maintenance and repairs. Tracking all of these payments is critical to businesses and government entities to not only understand how the company is making purchases, but also to manage corporate spend
Let's Talk Payments
AUGUST 2, 2017
Cash continues to be used in ~85% of global consumer transactions Despite strongly rooted belief in the digital future of businesses, cash is still the king in the vast majority.
PYMNTS
AUGUST 2, 2017
Pushing the boundaries of retailers’ capabilities has been an issue surrounding the industry for the past few years. Thanks, in part, to eCommerce giants like Amazon and Walmart’s Jet.com, the consumer expectation of speedy deliveries has grown immensely. What separates out small to medium-sized retailers from these retail heavyweights is often logistics: access to large warehouses and tools to get the job done more quickly.
Bobsguide
AUGUST 2, 2017
Protecting customer’s data privacy is critical for organisations of all sizes and in all industries – but even more so when and where it’s mandated by law. The General Data Protection Regulation (GDPR) is approaching quickly; with the deadline less than a year away, it’s time.
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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
AUGUST 2, 2017
Virtual B2B payments company Noventis wants small- and medium-sized enterprises (SMEs) to get in on its services. The company said Tuesday (Aug. 1) that it is offering its B2B payments services, including virtual card (V-Card) capabilities, to small businesses in an effort to promote electronic payments and reduce check fraud. “At a time when check fraud and identity theft are increasingly problematic to all constituents in the ecosystem, there are [more than] five million small businesses
Bobsguide
AUGUST 2, 2017
In 2009, a little-known currency entered the market. If you had bought one thousand of them at this time, you would have had to hunt around for about £4.16 of change in your sofa. Purchase one thousand today, and your credit card will take a hit of over £2m. This phenomenon? Bitcoin.
PYMNTS
AUGUST 2, 2017
The Monetary Authority of Singapore (MAS) has announced news of the creation of a Payments Council that will work to promote ePayments in the country. According to OpenGov , the Payments Council — made up of 20 leaders from banks, payment service providers, businesses and trade associations — will focus on ePayments under the government’s Smart Nation program.
Payments Source
AUGUST 2, 2017
Facebook, Twitter, YouTube, Instagram, Reddit and blogs create environments where like-minded users can connect, share opinions and cultivate a sense of comradery, creating an unprecedented number of distinct nano-segments, writes Steve Gilde, director of global payments for Paragon.
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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
AUGUST 2, 2017
Loyalty is a two-way street — both in life and in rewards programs. Every quick-service restaurant (QSR) seems to offer its own loyalty benefits in increase its customer service, whether by app or by card tracking or, simply, via old-fashioned punch card. Yet the ones finding the most success have one thing in common, and that is treating loyalty as a give and take.
Payments Source
AUGUST 2, 2017
PayPal now enables Skype users to send funds to one another while chatting on Skype’s mobile app, but the connection came too late for investors who hoped to see this happen when PayPal and Skype lived under the same roof as subsidiaries of eBay.
PYMNTS
AUGUST 2, 2017
Following a Series A funding round, B2B payments startup Boost Payment Solutions has created its board of directors, the company said Tuesday (Aug. 1). Boost founder and CEO Dean M. Leavitt was appointed chairman, and Mosaik Partners founding partner Howard Mergelkamp III will also sit on the board. Mosaik Partners led the company’s Series A funding round in June , though the companies didn’t say how much was raised.
NCR
AUGUST 2, 2017
It’s always been the case that managing personal finances is one of the biggest headaches many people face in their everyday lives. Indeed, figures from PwC reveal that more than half of people in the US (53 percent) report that their finances are a major cause of stress – with nearly a third of people saying these issues distract them when at work.
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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
AUGUST 2, 2017
The growing number of banks and FinTechs taking to blockchain technology has caught the attention of the financial services world, with the industry readying to offer its own customers — both corporate and consumer — blockchain-based solutions. But how are the corporates themselves preparing for this disruption? A new report from Juniper Research suggests large enterprises are eager to participate in the evolution of blockchain adoption, with 57 percent of surveyed corporates actively considerin
Payments Source
AUGUST 2, 2017
In recent years, companies have aggressively reinvented the card-reading dongle to fit their brands and absorb new technologies like EMV and NFC. But few have succeeded in doing away with the dongle entirely.
PYMNTS
AUGUST 2, 2017
Gaming gets much of the glory when it comes to the emerging virtual-reality ecosystem – and for good reason – the application of the technology is obvious. Games have spent the better parts of three decades becoming more photorealistic, and the natural evolution is to insert gamers into fully immersive, totally artificial environments to ward off alien invasions or fight for survival in the zombie-laden post-apocalyptic wasteland.
Payments Source
AUGUST 2, 2017
Toronto-based Glance Technologies has introduced a new version of its Glance Pay mobile payments app that uses micro-location sensing technologies along with image recognition, an approach it says is easier for merchants to adopt than QR codes.
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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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