Bank Innovation
JULY 11, 2017
Open APIs have been advancing steadily across the banking landscape for a number of years, though just how “open” may be a point of conjecture. Many of the European neobanks have done it, such as Monzo and Fidor, and in Europe, where PSD2 is set to take effect next year, the issue is especially pressing. […].
Chris Skinner
JULY 11, 2017
I posted this on twitter earlier and it’s proven so popular that I thought I would share with all. The bank calls for an Open Banking meeting. The post The bank calls for an Open Banking meeting appeared first on Chris Skinner's blog.
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Payments Dive
JULY 11, 2017
While mobile wallets make it possible to manage several cards in one application, the challenge facing financial institutions is becoming the default card option within mobile wallets and payment applications.
Chris Skinner
JULY 11, 2017
I got to thinking about yesterday’s post on humanity in part due to a discussion of global banking. Global, universal banking was the mantra of the 2000s and HSBC, Citi, Bank of America, BNP Paribas, Deutsche and more were all jumping on the bandwagon. After the global financial crisis, they all jumped off it again, and most global, universal banks ambitions are now clipped back to purely being able to support their global corporate clients’ needs.
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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
JULY 11, 2017
Who sold it better — Alibaba, during 2016 Singles’ Day or Amazon, during today’s Prime Day? With respect to Amazon’s ‘record levels’ of shoppers today, according to company statements, Alibaba’s Singles’ Day is probably going to stay on top — despite Amazon shoppers acting like this, at least according to Twitter: Actual footage of how […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
JULY 11, 2017
In December of 2016, the Consumer Financial Protection Bureau’s associate directors of the Office of Fair Lending expressed a new shift in priorities that will increase focus on small business lending, among other loan types. A group of bankers from the Tennessee Bankers Association met with representatives of the CFPB and expressed concern about this new focus, citing difficulties that prior data collection requirements from the CFPB on mortgage loans had caused.
PYMNTS
JULY 11, 2017
Searching for a different kind of lodging or the perfectly priced graphic designer to help give a startup the right look? These days, the best place to look may just be on an online platform. The July PYMNTS Payments Powering Platforms Tracker™ , powered by WePay, features a roundup of last month’s headlines on how payments are powering new businesses in industries from freelancing to financing, and everything in between.
Let's Talk Payments
JULY 11, 2017
The world’s biggest challenge for FinTech startups – BBVA Open Talent 2017 – goes on to the next stage after unveiling its winners for AI and Identity competitions. BBVA invites.
PYMNTS
JULY 11, 2017
Electronic procurement and the rise of a B2C-like shopping experience for corporate buyers has turned the buying process into a strategic function for many organizations. But for others, simply digitizing the procurement process in the first place remains a challenge. Government procurement is struggling to streamline and automate many tasks, forcing some executives to feel overworked, new research finds.
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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
Let's Talk Payments
JULY 11, 2017
One’s identity is the centerpiece of every aspect of his/her life – financial and social standing, health, family welfare, employment, education, etc. Identification, whether through civil registries or other national.
PYMNTS
JULY 11, 2017
The eCommerce battle between Amazon and Walmart has been brewing for quite some time, with each of the online retail giants working tirelessly to expand its reach. The consumer shopping environment is evolving, and Amazon and Walmart seem to be leading the charge. Following Nike’s decision to sell on Amazon and Walmart’s announcement that Jet.com would be working with BrandShare to send more than 300,000 samples in its monthly packages, the lines have clearly been drawn in the compet
Bobsguide
JULY 11, 2017
On 29th June, the FIX Trading Community held its summer London regional event kindly hosted by BNP Paribas, bringing together market participants to debate hot topics affecting the industry. And of course, there is nothing more pressing at the moment than the looming MiFID II deadline. The.
PYMNTS
JULY 11, 2017
Experian recently reported that it has unveiled Text for Credit, a credit application initiated and completed via text message. The company said in a release that the methodology helps reduce application time and also eliminates the risk associated with paper-based processes. In one cited use case, an applicant “interested in taking advantage of a store credit card incentive” could secure the card using Text for Credit through his mobile device.
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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.
Payments Source
JULY 11, 2017
Advanced operating systems can run marketing and support services such as Apple Pay. Merchants would be well-served to consider the divers options of new terminals, writes Ben Wagner, director of solutions at Ingenico Group, North America.
PYMNTS
JULY 11, 2017
Lyft said Tuesday that it is debuting a new feature, receipt forwarding for business travelers and travel managers. The ride hailing company said in a release that the forwarding feature works as each ride receipt taken under a business profile is automatically forwarded to each user’s designated expense management system. Lyft said that it is partnering with seven expense management firms, including Concur, Chrome River, Abacus, Zoho, Nexonia and others.
Payments Source
JULY 11, 2017
Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Tencent plans to set up in Malaysia; Bank of England may allow certain DLT payments; Payments Canada adds experts to board; Latin American payment marketplace raises funds for expansion.
PYMNTS
JULY 11, 2017
Nobody likes getting cold food delivered to their restaurant table. Wait staff do the best they can, but it’s not always easy to find the customer who ordered a meal; servers can lose a lot of time (and a hot dinner can lose a lot of its heat) looking for the right table. Restaurants can therefore lose a lot of money bringing in additional staff to make up for inefficiencies – not to mention money lost from customers who won’t return after having a poor experience.
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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.
Payments Source
JULY 11, 2017
Among the sneakers, diapers and pet food for sale on Taobao, China’s biggest e-commerce platform, is a listing that may take up a little more space in the online shopping basket.
PYMNTS
JULY 11, 2017
As Chico Marx once said to his brothers in a movie, “There ain’t no sanity clause.” . Is that the headline for July 10? No more arbitration, but lots of lawsuits? And, as a result, higher fees for consumers levied by cautious lenders, when they lend at all? Well, then, where’s the sanity clause? The Consumer Financial Protection Bureau (CFPB) has handed down a controversial ruling stating companies cannot opt to use arbitration clauses in their contracts with consumers in a manner that keeps co
Payments Source
JULY 11, 2017
Information sharing is about to get much different in Europe, giving bank alternatives such as Klarna more to work with as they compete against the financial services establishment.
PYMNTS
JULY 11, 2017
There’s nothing like that new car smell. And the fun of driving a new car off the dealer’s parking lot. But the process of getting there is anything but fun, especially if one is financing a car. Even when the process has gone swimmingly and the customer has found the right ride, in the right color, with the right trim package that’s in the right price range — the proverbial friction hits the fan when it comes down to negotiating the final deal.
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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.
Payments Source
JULY 11, 2017
Mobile and online P-to-P services may be the popular, mainstream payments service of choice for young people who don't prefer cash, but it also has a seedy underbelly, according to new survey data.
PYMNTS
JULY 11, 2017
Office Depot has announced updates to its loyalty program that will save customers money and offer expanded benefits. According to Chain Store Age , the move comes after a year-long pilot in several markets that enabled the company to gather customer feedback and redesign the program. The end result is a card-free rewards program — “Office Depot OfficeMax Rewards Everything” — integrated withing the Office Depot mobile app.
Payments Source
JULY 11, 2017
Some merchants, issuers and processors are concerned that the card brands will tout their "ownership" of payment card prefixes as a basis for requesting that mobile transactions on their cards be routed to their networks and screened through tokenization services they provide.
PYMNTS
JULY 11, 2017
Getting cash out of an ATM can sometimes be a pain when people are not near one that’s associated with their bank. Surcharge fees can pile up and sometimes dissuade people from using ATMs. Consumers visiting Rite Aid are going to see relief as the drug store and pharmacy chain has partnered up with Allpoint. The company’s locations in the Northeast, Mid-Atlantic and Midwest will soon have surcharge-free ATMs installed.
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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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