Bank Innovation
OCTOBER 17, 2019
A recent Forbes article claims the fad is over for bank-fintech partnerships. The fad might be over, but the imperative for banks to partner with fintechs is anything but. To be sure, there are valid points highlighting the over-inflated hype versus the reality in making these partnerships fruitful. Nevertheless, in our experience at INV Fintech, […].
Payments Dive
OCTOBER 17, 2019
The cross-border payments market is increasingly complex and creates a series of challenges for ecommerce companies who need to be able to allow customers to pay in the methods they prefer.
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Bank Innovation
OCTOBER 17, 2019
Chime, an online banking startup with more than 5 million customers, has been suffering an outage for much of past 24 hours that has left customers without access to their money. The startup blamed the disruption on an unspecified issue with a payments processor and said data was not at risk. The outage took down not only the […].
Chris Skinner
OCTOBER 17, 2019
I was reflecting on things again. Dangerous. My reflection was on when I grew up. My mum and dad went through the second world war. They feared for their lives and for our future. There was no Europe, just a fear of Germans and Nazis, of fascism and communism, of … The post Talking ’bout my generation 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
Payments Dive
OCTOBER 17, 2019
Digital displays are no longer the passive carriers of content. IoT devices are allowing displays to make content decisions in real time, while providing deployers with a treasure trove of data.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 17, 2019
Online banking startup Chime has been hit with an outage that has left its 5 million customers with no access to their money. The outage has been going on for the last 24 hours, taking down the company’s website and app, as well as shutting down customers’ debit cards. “Our payment processor has been experiencing issues today, resulting in our app + website being down,” Chime said in a tweet on Thursday (Oct. 17).
CFPB Monitor
OCTOBER 17, 2019
On October 10, 2019, the Board of Governors of the Federal Reserve System (Board), together with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, adopted a final rule to revise the criteria for determining the applicability of regulatory capital and liquidity requirements for large U.S. banking organizations and the U.S. intermediate holding companies of certain foreign banking organizations.
PYMNTS
OCTOBER 17, 2019
As the global digital economy grows, and consumers buy more items from their mobile and other web-connected devices, a problem grows along with that. We are talking about the rise of counterfeit goods. But where there are problems lie opportunities – and that’s the story with a company called TruTag Technologies. The company makes barcodes that are edible and microscopic – specifically, they are made from nano-porous silica – which can be used to ensure the authentication of a host of products
Payments Source
OCTOBER 17, 2019
The information you need to start your day, from PaymentsSource and around the web. Today: EU regulators examine Apple Pay; Exec in Taiwan likes Libra; Amazon Pay's voice in India; Bermuda launches blockchain ID.
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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
OCTOBER 17, 2019
David Marcus , the executive in charge of Facebook ’s proposed cryptocurrency, Libra , said if Libra fails, the U.S. could fall behind China in the race for legitimized cryptocurrency, and subsequently in influence around the world. According to Bloomberg , while Libra is continually criticized and scrutinized around the globe, China is developing its own state-backed cryptocurrency.
Payments Source
OCTOBER 17, 2019
The U.K.-based fintech says that a recent crowdfunding campaign shows demand for its product, even though the amount it raised is well below funds obtained from VCs.
PYMNTS
OCTOBER 17, 2019
Nestlé said it is going to return $20.2 billion to its shareholders over the next three years as it continues a turnaround to become more profitable and focus on its businesses that work. The company just completed a sale of its skin health business, and buybacks are a sign that the company’s new strategy, by CEO Mark Schneider, to raise sales and grow profit margins is in full swing at Nestlé, according to a report by the Financial Times.
Payments Source
OCTOBER 17, 2019
The payment processor Galileo suffered what it described as an "operational incident" that caused more than 24 hours of outages at the fintechs Chime and Varo Money.
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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
OCTOBER 17, 2019
As the global digital economy grows, and consumers buy more items from their mobile and other web-connected devices, a problem grows along with that. We are talking about the rise of counterfeit goods. But where there are problems lie opportunities – and that’s the story with a company called TruTag Technologies. The company makes barcodes that are edible and microscopic – specifically, they are made from nano-porous silica – which can be used to ensure the authentication of a host of products
Payments Source
OCTOBER 17, 2019
Eliminating checks from corporate payments will take many more years, but Nacha’s latest data suggests the B2B category is playing a key role in Same Day ACH's growth.
PYMNTS
OCTOBER 17, 2019
SunTrust Banks Inc. reported results on Thursday (Oct. 17) that surpassed revenue expectations but fell in line with analysts’ earnings estimates for the third quarter. But beyond the quarterly numbers, management said the company is satisfied with the movement toward a planned merger with BB&T Corp. Drilling down into the numbers, the firm reported revenue of $2.4 billion and adjusted earnings per share (EPS) of $1.40, compared to expectations of $2.34 billion and $1.40 per share.
Payments Source
OCTOBER 17, 2019
As some of Facebook's partners pull out of the Libra cyrptocurrency project, Sen. Mike Rounds, R-S.D., encouraged a company located in his state to remain involved.
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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
OCTOBER 17, 2019
To paraphrase an old saying: Patriotism is the last refuge of … crypto. In the latest salvo designed to bring Libra back from this week’s brink, where each week seems to bring a new brink, it’s now the U.S. versus China. As Bloomberg reported on Thursday (Oct. 17), Facebook’s Co-creator of Libra David Marcus said that if Libra goes down, China is handed a victory in its own efforts to develop a cryptocurrency.
BankBazaar
OCTOBER 17, 2019
Here are a few smart money management tips that can help you get on the road to financial freedom in no time. Read on. Tips for women to manage finances independently. Women are smashing stereotypes on all fronts – be it flying a plane, starting a company or being a sole bread-winner of the family. But even today, a majority of women in India still hesitate to get involved in money matters and let somebody else in their family manage their wealth.
PYMNTS
OCTOBER 17, 2019
Analysts from Barclays are predicting that Apple TV+ could see over 100 million subscribers in its first year — and raised the tech giant’s price target to $224 per share from $207 per share. The new streaming service — which will feature free original content for device owners, and a subscription platform for existing digital services — launches on Nov. 1.
SWBC's LenderHub
OCTOBER 17, 2019
The auto loan industry is massive and chances are that if you are a financial institution, you are also in the auto loan lending game. As a lender, knowing ways to maximize your automotive financing portfolio and extending loans to qualified borrowers is of the utmost importance. Having a solid pulse on the auto finance market can help increase your financial institution’s auto loan portfolio.
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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
OCTOBER 17, 2019
K-eCommerce has announced the launch of two new cloud-based payment solutions: Payment Extension and Payment Portal. The provider of eCommerce and payment solutions integrated to Microsoft Dynamics made the announcement at this week’s User Group Summit North America. The new solutions replace the company’s on-premise offerings, Credit Card Extension and Online Bill Pay.
CFPB Monitor
OCTOBER 17, 2019
Tomorrow, October 18, the House Financial Services Committee’s Task Force on Artificial Intelligence is scheduled to hold a hearing entitled “AI and the Evolution of Cloud Computing: Evaluating How Financial Data is Stored, Protected, and Maintained by Cloud Providers.” There will be a live webcast of the hearing. The Committee Memorandum and related legislation can be found here.
PYMNTS
OCTOBER 17, 2019
European Central Bank Executive Board member Benoit Coeure called for strict supervisory principles for digital currencies and stablecoins like Facebook’s Libra, Bloomberg reported on Thursday (Oct. 17). “In the case of Europe, neither the Commission nor the ECB intends to make Europe a no-fly zone for stablecoins. But stablecoins will have to meet the highest regulatory standards and adhere to broader public policy goals,” Coeure said in an interview ahead of a Group of Seven (G7) report on s
CFPB Monitor
OCTOBER 17, 2019
In this podcast, Paul Watkins, Director of the CFPB’s Office of Innovation, joins us to discuss the CFPB’s final trial disclosures, no-action letter, and FinTech sandbox policies. Topics covered include the elements of each policy and the protection from liability available, the role of pre-application discussions between the CFPB and applicants, and the CFPB’s plans to engage in outreach to other federal and state regulators to maximize the value of approvals.
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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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