Chris Skinner
SEPTEMBER 6, 2018
I was introduced to a lunch meeting by the Chairman of the Bank. As he made the introduction, he gave a personal account of how technology had changed the world during his lifetime. This is not his speech, but my version of his speech. I trust you like it. So, … The post How the world has changed with technology appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 6, 2018
There are advantages to both sides for banks to partner with mortgage solutions, but one of the U.S.’s largest digital mortgage companies told Bank Innovation why they aren’t partnering with banks. LendingHome, which has originated $3 billion in loans since 2014, says there need not be a rush for digital mortgage servicers to partner with […].
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Chris Skinner
SEPTEMBER 6, 2018
Things we’re reading today include: UK fintech in buoyant mood as valuations soar How high street banks reward premier customers Nigerian bank’s former UK head was arrested U.S. probing Wells Fargo’s wholesale banking unit: WSJ Five surprising outcomes of the 2008 financial crisis Foreign investors face decision to stick or … The post Things worth reading: 7th September 2018 appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 6, 2018
Goldman Sachs is reportedly dropping plans for a cryptocurrency trading desk. The news, which broke late yesterday, sent crypto prices further down, but in this bear market, you'd be excused for not noticing. The news, though dismissed or even spun into a good thing by crypto enthusiasts, can hardly be taken as a positive sign […].
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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
Chris Skinner
SEPTEMBER 6, 2018
Things we’re reading today include … Ten years after Lehmans, it’s as if we’ve learned nothing from the crash | Aditya Chakrabortty ‘If it was Lehman Sisters, it would be a different world’ – Christine Lagarde RBS to almost halve its branches with another 54 closures Citigroup to overhaul its investment … The post Things worth reading: 6th September 2018 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bobsguide
SEPTEMBER 6, 2018
Successful business owners require a clear understanding of their company’s financial positioning, establishing whether their security holdings and cash balances have breaks. In 2018, everyone wants to get this information quickly, correctly and cost-effectively. In bookkeeping, a bank.
Payments Dive
SEPTEMBER 6, 2018
It's time for a look back at last month's most-read content on the site.
PYMNTS
SEPTEMBER 6, 2018
Visit one of the places where time still crawls — New Orleans, for instance, inside a dive bar where the beer and tobacco odors have more years on them than the regulars — and you might see one: a glass, metal and plastic box squatting along some wall, its coin slot and thick pull-handles ready to serve any boozer in need of quick nicotine. Cigarette vending machines have earned their place in discussions of Americana and barroom history.
Payments Source
SEPTEMBER 6, 2018
The information you need to start your day, from PaymentsSource and around the Web: mobile ordering on the golf course; Facebook users take a break; PayPal invests in U.K.'s Monese; and more.
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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
SEPTEMBER 6, 2018
While the “mobile everything” future has been long predicted, as of the second half of 2018, we are actually beginning to see the shape of what that will look like. There will be more competition, as players like Uber try to tap more directly into the mobile payments enthusiasm they helped invent, and as enthusiasm for mobile wallets continues to creep up.
Payments Source
SEPTEMBER 6, 2018
Transactions are becoming just one part of an ecosystem that includes CRM and business management, according to Ryan Ahern, payments solution manager at Ingenico Group, North America.
PYMNTS
SEPTEMBER 6, 2018
Payroll is facing risk exposure from all angles. Cyberattackers are increasingly targeting payroll payouts, while manual data entry introduces the risk of errors. Lackluster reporting increases the risk of non-compliance with Department of Labor regulations, while legacy systems make fraud and inflated paychecks an easy crime. Many of these issues originate at the beginning of the payroll process with employee time tracking, a process that traditionally requires workers to track their own hours,
Payments Source
SEPTEMBER 6, 2018
Ripple's role in streamlining international transactions and the popularity of its XRP tokens has boosted the company's value, but has also drawn critics who claim Ripple is illegally gaming the market.
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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
SEPTEMBER 6, 2018
Enterprise software firm SAP is enhancing its SAP Business ByDesign solution to support growing middle-market companies. Reports in Codestone said Business ByDesign, which is updated every quarter, has enhanced its functionality with boosted data security and streamlined processes. The solution is designed to provide Enterprise Resource Planning (ERP) solutions to middle-market firms that are too small for a full-scale ERP system.
CFPB Monitor
SEPTEMBER 6, 2018
The CFPB has filed a proposed Rule 54(b) judgment in the RD Legal Funding case. The proposed judgment provides that “for the reasons stated in the Court’s June 21, 2018 Order, (ECF No. 80), final judgment is hereby entered pursuant to Rule 54(b) against the Consumer Financial Protection Bureau and in favor of Defendants [RD Legal Funding et al.]” In her June 21 order , Judge Preska ruled that the CFPB’s structure is unconstitutional and struck all of Title X of Dodd-Frank.
PYMNTS
SEPTEMBER 6, 2018
Welcome to The Axis, your late look at payments news from around the world. Coverage includes Yoco ’s $16 million Series B funding round. In addition, China’s Beijing Inspiry Technology is deploying a mobile payments in Japan , and Volopa has chosen Onfido to help verify applicants’ identities when on-boarding new clients. South Africa -based Yoco has notched $16 million in a Series B round led by venture capital firm Partech , the company said in an announcement.
CFPB Monitor
SEPTEMBER 6, 2018
In July 2018, in Collins v. Mnuchin , a Fifth Circuit panel found that the Federal Housing Finance Agency (FHFA) is unconstitutionally structured because it is excessively insulated from Executive Branch oversight. It determined that the appropriate remedy for the constitutional violation was to sever the provision of the Housing and Economic Recovery Act of 2008 (HERA) that only allows the President to remove the FHFA Director “for cause” while “leav[ing] intact the remainder of HE
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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
SEPTEMBER 6, 2018
Add another investigation to the roster of headlines swirling around Wells Fargo. As The Wall Street Journal reported on Thursday (Sept. 6), the Justice Department has opened an investigation into possible fraud committed at the company’s wholesale banking unit. The financial publication, quoting unnamed “people familiar with the matter,” said that the probe follows “revelations that employees improperly altered customer information” – including adding information such as Social Security numbers
Bobsguide
SEPTEMBER 6, 2018
Some vendors and brokerage firms claim to provide the best trading systems with diverse functions to assist traders, making it incredibly difficult for those aiming to make a purchase. However, several trading systems stand out of the crowd for their agility and adaptability. Tora. Winner of.
PYMNTS
SEPTEMBER 6, 2018
Around the globe, new payment schemes are on the rise. In the Eurozone, the Eurosystem’s new process for settling instant payments is slated to go live this November. As the TARGET Instant Payment Settlement (TIPS) nears its launch date, major financial players are busy at work, ensuring they will be prepared to give their clients access to the service.
Payments Source
SEPTEMBER 6, 2018
By improving STP processes for small business, these players will greatly expand their reach of serviceable suppliers, resulting in higher revenues and better service for the clients they serve, writes Blair Jeffrey, COO of Noventis.
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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
SEPTEMBER 6, 2018
Think being a member of the gig economy means being footloose and fancy-free? Setting one’s own hours, working in PJs, venturing outside to the bank and pocketing some of those wages? Think again. Depending on where one works and what they do, freelancing has its own challenges, and those challenges can become headaches rather quickly. Yes, there are the lures of flexibility (among other benefits,) as noted in the PYMNTS Gig Economy Index.
Payments Source
SEPTEMBER 6, 2018
When Salesforce added new features to its Sales Cloud platform, it opted to not only improve the prospect marketing and selling aspects of generating sales in its CRM platform, but to also include a billing capability.
PYMNTS
SEPTEMBER 6, 2018
The Reserve Bank of India (RBI) has reportedly sent letters to several heads of top banks in the country questioning why they have yet to fix gaps in their SWIFT systems, according to The Economic Times of India. Reports from the publication on Wednesday (Sept. 5) said the RBI remains “anxious” following a massive bank fraud scheme in which jewelers Nirav Modi and Mehul Choksi exploited the SWIFT system to defraud Punjab National Bank (PNB) of $2 billion.
Payments Source
SEPTEMBER 6, 2018
Initial coin offerings have become controversial enough for the SEC to weigh in. And even though the commission has not announced a clear stance, technology investors are noticing a difference in its actions.
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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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