Fri.May 10, 2019

Fintech startups use unique approaches to payments to raise funding

Mobile Payments Today

As venture capital continues to look for new opportunties, startup firms in the fintech space are taking unique approaches to payments and financing to raise new funding to accelerate their growth

Alipay, Adyen And Klarna Team Up For ‘Pay Later’ Option On AliExpress

PYMNTS

Three popular payment companies, Alipay, Adyen and Klarna, have teamed up to allow AliExpress shoppers to use Klarna’s “Pay Later” option for online shopping, according to a release. . The pay later option is enabled through Adyen, the payments provider behind AliExpress.

U.S. Congress Launches Task Forces for Fintech, AI

Bank Innovation

The U.S. House Financial Services Committee has unanimously adopted two resolutions establishing task forces for fintech and artificial intelligence.

New NACHA Rule Could Catch Payment Processors, Merchants, FIs Off-Guard

PYMNTS

Among the highest ideals for digital payments – driving innovation in transactions and customer experience – is, of course, the concept of seamlessness. That implies an ease of use while giving up nothing when it comes to security.

Fraud 260

Banks Back Record Number of Cybersecurity Startups

Bank Innovation

Banks and their venture arms increasingly are backing cybersecurity startups, investing in everything from threat intelligence to data security firms, according to a new CB Insights report.

Data 141

Iris-Reading USB Device Marketed As Unhackable Is Hacked

PYMNTS

The eyeDisk, a USB flash drive that claims to be unhackable, has been hacked by a U.K.-based based cybersecurity firm called Pen Test Partners, according to a report by TechCrunch.

BNY Mellon Hires for Blockchain as More Firms See It as a Priority

Bank Innovation

Bank of New York Mellon has named Subhankar Sinha as Head of Blockchain.

More Trending

San Francisco puts the kibosh on cashless retail, restaurants

ATM Marketplace

San Francisco has become the latest city to say no to cashless retail and foodservice as advocates for vulnerable populations demand equal access to shopping and dining establishments for the unbanked

Uber’s Bust(ed IPO) Of A First Day

PYMNTS

Call it a less than auspicious beginning. When the rubber met the road, when the trading actually became reality, Uber sputtered. To say the least.

Trends 225

The Right Workforce Turns Data into Rocket Fuel for AI Projects

Dataconomy

Breaking down the workforce options for AI developers to structure raw data for machine learning. Here is a look. While it may seem like artificial intelligence (AI) has hit the big time, a lot of work needs to be done before its potential really come to life. In our modern.

Data 96

Walmart Pivots On Brazil eCommerce Strategy, Focuses On Physical Stores

PYMNTS

Walmart Brasil has announced it will shutter its eCommerce division in Brazil and focus on physical stores, according to a report by Reuters. The company said it plans to turn underperforming hypermarkets into brick-and-mortar wholesale stores.

Couples start marriages in debt—then argue about it. How can you avoid financial fighting?

Hopewell Federal

It’s not uncommon for couples to stress about money. According to an Ohio Credit Union League 2019 consumer survey, 38 percent of Ohioans say finances have been a main cause of stress in their romantic relationship. According to a study published in the scientific journal Couple and Family Psychology: Research and Practice , 50 percent of divorced couples interviewed listed financial problems as a major factor that contributed to their divorce.

Ohio 67

Uber’s IPO: Pricey And Dicey Or Poised For Liftoff?

PYMNTS

High end? Low end? Smack in the middle? As it turns out, after much anticipation, it’s the low end.

Course 205

On the Road with Rising Auto Loan Delinquencies

SWBC's LenderHub

Delinquencies in the auto loan landscape are the highest they’ve been in the past decade.

Instagram Creates @shop Account To Promote SMB Products

PYMNTS

Instagram announced the launch of @shop, a new account described as a “celebration of small businesses and the creators behind them.”. The content on this account is inspired by our community of shoppers — you.

Tools 202

This Week In AI: China’s Megvii Raises $750M, Square Acquires Eloquent Labs, Salesforce Acquires Bonobo.ai

CB Insights

Hi there, Here’s what went down in artificial intelligence this week. Want the full post? Become a CB Insights customer. If you’re already a customer, login here. The post This Week In AI: China’s Megvii Raises $750M, Square Acquires Eloquent Labs, Salesforce Acquires Bonobo.ai

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People And Bank Automation — An ‘And’ Not An ‘Or’

PYMNTS

It is hard to argue, after five decades in existence, that the ATM hasn’t been an overwhelming success as financial products go — in fact, it has changed the face of how consumers interact with banks.

Federated electronic identities: What are they, what are the benefits, and do they work?

Bobs Guide

The Nordic countries have solved this by successfully establishing electronic Identity (eID) schemes. The eID is used by casual users (93% of Norwegians on a weekly basis), and recognized by public services and many private businesses. But what exactly are eIDs, why are they important, what are

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Making The Case For Cash In Unattended Retail

PYMNTS

Vending machine operators have become increasingly attentive to the demand for swift digital payment options, and have benefitted from significant sales growth after enabling cashless payments. However, for the 8.4 million unbanked U.S.

Retail 192

Chartering the Unknown: Future-Proofing Your Financial Institution

ATM Marketplace

The future is unwritten – but far from unknowable. Amidst churning technological disruption and changing consumer preferences, FIs are having to contend with dramatic and sudden shifts that pose serious operational challenges. BranchServ can help you navigate these waters

Jumia’s Shares Slide On Fraud Claims By Short Seller

PYMNTS

Following a claim of fraud by a short seller, shares in eCommerce firm Jumia fell by almost 25 percent by midday New York time on Friday (May 10) and traded at $20.30 at one point, the Financial Times reported. The stock, however, was trading higher – at $25.78 – as of 3:43 p.m.

Fraud 191

3 Ways to Leverage Azure Self-Service Bots in Your Organization

Perficient Financial Servies

Today’s workforce is highly mobile, technology savvy and resourceful. It is more critical than ever to provide employees with real-time assistance and support that offers a positive employee experience. To maintain productivity, employees need the ability to do things such as initiate IT tickets or register for HR benefits at their convenience. They also want to stay up-to-date on company news and events.

Nike Introduces Smart Shoes

PYMNTS

Nike is launching a new service within its app that will scan a user’s feet to determine their correct shoe size. Nike Fit in North America will officially launch in July.

Bank group provides guidance on sanctions screening

Bobs Guide

The Wolfsberg Group, an association of 13 global banks which aims to develop frameworks and guidance for the management of financial crime risks, issued new guidance for sanctions screening earlier this year to provide financial institutions (FIs) with a stronger toolkit for dealing with money

Smartphone Sales Hit Five-Year Low In Q1

PYMNTS

New data shows that smartphone shipments in North America have fallen to a five-year low , plummeting 18 percent year on year in the first quarter of 2019. According to a report from Canalys , shipments plunged from 44.4 million to 36.4

Google 173

Judo Bank goes live with Temenos T24 to fuel its SME offerings

The Paypers

(The Paypers) Australia-based Judo Bank has gone live with Temenos T24 Transact, Analytics, Financial Crime Mitigation and Channels- Temenos Infinity’s module, running on Temenos cloud

Fed Seeks Comment On New Operating Hours For Fedwire Funds

PYMNTS

The Federal Reserve has released a request for comment on potential changes to its National Settlement Service (NSS) and Fedwire Funds Service, as well as feedback on a possible new posting time for transactions, and an increased daylight overdraft fee. “On Sept.

How the Venture Studio model, borrowed from Hollywood, may finance the Blockchain Economy, replacing the current Fund centric model that drives Silicon Valley.

Daily Fintech

TLDR Hollywood & Silicon Valley both have proven models for harnessing ideas & talent to big profits. As we move from rock stars to film stars to code stars, the model from down south in LA is moving north to Silicon Valley and all places where tech ventures are created.

Video 52

Australian Cash’s Spelling #Fail

PYMNTS

When it comes to money, the little things really do matter — the really, really little things. That’s what Australian authorities are learning this week in a case that involves an expensive typo on 46 million of the country’s new $50 notes.

Amazonâ??s Mullins: Banksâ?? digital subsidiaries focused on new models, not new tech

Bobs Guide

Digital subsidiaries launched by major banks are more about fresh business models than experimenting with technology, says Scott Mullins, head of worldwide financial services business development at Amazon Web Services (AWS), though agile cloud-based entrants have raised the bar when it comes to

Uber CEO Disagrees With Elon Musk’s Robotaxi Prediction

PYMNTS

Uber CEO Dara Khosrowshahi said he disagrees with Tesla CEO Elon Musk’s assertion that a fleet of robotaxis will be ready by the end of 2020, according to a report by CNBC. He does, however, agree that the future is going to be in electric cars, and also sharing.

JP Morgan picks Bora to automate SUA B2B payments

The Paypers

(The Paypers) Bora Payment Systems has announced collaboration with JP Morgan to automate delivery of the bank’s Single-Use Accounts (SUA) payments

Chinese National Charged In Anthem Data Breach

PYMNTS

prosecutors have charged a Chinese national for his alleged involvement in the 2015 data breach at health insurance company Anthem , which led to the theft of 78.8 million records.

Nordea launches blockchain-based trading platform for SMEs

The Paypers

(The Paypers) Nordic financial services group Nordea Bank is making the blockchain-based trading platform we.trade available to all its small and middle-sized business (SME) customers

Fizzle: Stock Market Swoons – Will Wealth Effect, Too?

PYMNTS

The wealth effect. It’s ephemeral, fleeting and widely desired. Especially for consumer spending. Generally, the wealth effect works this way: When people see their stock portfolios going up, as markets go up, of course, they feel more confident about their financial security.

Don’t let AI become a black box

BankThink

Banks must remain accountable for their use of artificial intelligence by continuing to employ a level of human oversight. Artificial intelligence Cognitive computing Workforce management Fintech

UK Watchdog Orders Tax Office To Delete Voice Data

PYMNTS

The data protection watchdog in the U.K. has found that Her Majesty’s Revenue and Customs (HMRC) collected millions of biometric voice data from citizens without their consent, according to a report.

Taxes 149