Thu.Oct 17, 2019

Bank-fintech partnerships are a necessity, not a fad

Bank Innovation

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.

Talking ’bout my generation

Chris Skinner

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.

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Hot online bank startup leaves customers without access to their cash

Bank Innovation

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.

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The changing patterns in cross-border payments markets

Mobile Payments Today

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

ABCs of Data Normalization for B2B Marketers

Data normalization. It’s not a far stretch to suggest that the topic isn’t exactly what gets marketers excited in their day-to-day workflow. However, if lead generation, reporting, and measuring ROI is important to your marketing team, then data normalization matters - a lot. In this eBook, we’ll break down the ins and outs of data normalization and review why it’s so critical for your marketing strategies and goals!

On Spreadsheet Day 2019, Celebrate the App, But Acknowledge Its Limitations

Abrigo

On Spreadsheet Day 2019, Celebrate the App, But Acknowledge Its Limitations. Sub-category | 10 minute read Key Takeaways Spreadsheet Day is a good time to celebrate this popular tool while examining some vulnerabilities spreadsheets pose for FIs.

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Digital Bank Chime Suffers Outage Affecting 5M Customers

PYMNTS

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). “We

PSD2's tough for banks, but it's now standard practice

Payments Source

If banks and customers take steps to quickly adapt to the change now, the benefits will soon be realized, says Sage's Adam Prince. ISO and agent Payment processing Data Center Digital payments Banking

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Edible Barcodes Turn Sights On Counterfeit Goods

PYMNTS

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.

Morning Brief 10.17.19: EU inches toward an Apple antitrust investigation

Payments Source

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. Briefing

The 2019 Technographic Data Report for B2B Sales Organizations

In this report, ZoomInfo substantiates the assertion that technographic data is a vital resource for sales teams. In fact, the majority of respondents agree—with 72.3% reporting that technographic data is either somewhat important or very important to their organization. The reason for this is simple—sales teams value technographic data because it makes essential selling activities easier and more efficient.

David Marcus: China Wins If Facebook’s Libra Fails

PYMNTS

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. That would be a real threat to U.S. influence, Marcus said.

Curve’s crowdfunding builds more crowd than funds

Payments Source

The U.K.-based 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. Credit cards Mobile payments Mobile wallets Venture funding Venture capital Fintech pso cardline lead 2 pso intraday lead U.K.

Nestlé Will Give Shareholders $20B As It Continues Rebound

PYMNTS

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.

Third-party glitch disrupts services of two popular challenger banks

Payments Source

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. Digital banking Varo Money CHIME

The Time-Saving Power of Intent Data for Sales

By using the power of intent data, capturing buyer interest has become more feasible for sales. Not only that, but using it will save immense time during your workflow; a win-win on all fronts.

Can Edible Barcodes Fight The Counterfeit Goods Problem?

PYMNTS

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.

B2B payments lift Same Day ACH, even as checks persist

Payments Source

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. Faster payments B-to-B payments ACH NACHA

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SunTrust Beats Revenue Forecast Ahead Of BB&T Merger

PYMNTS

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.

American Express takes aim at rival Brex with new card offerings for startups

Payments Source

New technology allows AmEx to see a startup’s bank balance to let fledgling firms qualify for cards, said Anna Marrs, president of global commercial services. Credit cards Loyalty and rewards

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How ZoomInfo Enhances Your Database Management Strategy

Forward-thinking marketing organizations have continuously invested in a database strategy for enabling marketing processes. Download this ebook to learn how to maintain a strategy that includes refreshed information, database cleanses, and an accurate analysis at the same time.

Libra As Patriotic Duty

PYMNTS

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. Marcus, of course, helms the Libra initiative.

PayPal’s Synchrony pact gives rise to a Venmo credit card

Payments Source

Venmo’s P2P social payment app has become a major part of PayPal’s retail strategy, a play that’s getting a boost from a Synchrony co-branded credit card. Credit cards P-to-P payments Mobile payments Venmo PayPal Synchrony

Barclays Foresees 100M Apple TV+ Subscribers In First Year

PYMNTS

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. It is set to cost users $4.99 per month, but for those who buy a new Apple gadget, the first year is free.

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Galileo raises $77 million to expand global card processing

Payments Source

Galileo has raised $77 million in its first round of venture capital funding backed by Accel and Ryan Smith, CEO of the software firm Qualtrics. Venture funding Payment processing

How ZoomInfo Enhances Your ABM Strategy

For marketing teams to develop a successful account-based marketing strategy, they need to ensure good data is housed within its Customer Relationship Management (CRM) software. More specifically, updated data can help organizations outline key accounts for their campaigns. And to begin the targeting process, marketing teams must develop an Ideal Customer Profile (ICP) with appropriate firmographic and behavioral data to ensure they’re going after the correct audience.Download this eBook to learn how to start improving your marketing team's data!

K-eCommerce Adds Online Bill Pay, Payment Solutions

PYMNTS

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.

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GOP senator tells Libra Association member to stay the course

Payments Source

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. Libra Policymaking Payments Facebook Federal Reserve Senate Banking Committee

ECB’s Coeure Calls For ‘Highest Regulatory Standards’ On Stablecoins

PYMNTS

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 In the case of Europe, neither the Commission nor the ECB intends to make Europe a no-fly zone for stablecoins.

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4 Ways Women Can Manage Their Finances Independently

BankBazaar

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.

Data-Driven Marketing 101

This eBook highlights how data-driven strategies empower marketing campaigns through personalization tactics.