Bank Innovation
JANUARY 13, 2020
Visa Inc. grew into one of the world’s most valuable financial companies by serving as the pipes that help connect banks and merchants. Now, it’s making a major bet on doing the same for data between banks and financial startups. Visa agreed to pay $5.3 billion for Plaid, a fintech firm that connects popular apps […].
Chris Skinner
JANUARY 13, 2020
I sometimes write a reflective blog post or two and realised that the vision of the West Asian nations – some call this The Middle East, but that’s not right – is quite stunning. The aim is to move from their dependency on oil, and become self-supporting nations using new … The post The West Asia Renaissance: Watch and Learn appeared first on Chris Skinner's blog.
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Bank Innovation
JANUARY 13, 2020
As retailers seek to increase customer purchase volumes through point-of-sale loans, PayPal is setting itself apart from competition through its brand recognition, the speed of its underwriting process and its relationships with hundreds of millions of consumers. It’s promoting its point-of-sale loan product, PayPal Credit, as a purchase driver for retailers.
PYMNTS
JANUARY 13, 2020
It was a difficult week for businesses getting hit with cyberattacks, with foreign currency company Travelex among the most high-profile of recent cases. The currency exchange company continues in the grips of a ransomware attack that has crippled its operations, as well as the foreign currency operations of its corporate clients, including HSBC and Barclays.
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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
JANUARY 13, 2020
Alvaro Teixeira, executive vice president and head of customer value management at HSBC Bank USA, will attend Bank Innovation Ignite this March 2-3 in Seattle. Teixeira is speaking at the Ignite Ideas session, in which financial industry leaders will highlight case studies. “I’m excited to join Bank Innovation Ignite to dive further into how technology […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 13, 2020
As banks seek to build relationships with customers, they’re not fully exploiting the potential of gaming as a strategy for loyalty and retention, suggest analysts at Javelin Strategy & Research. In a study released in December, Javelin argues that gamification is tool to help customers understand the longer-term evolution of their personal finance situations.
South State Correspondent
JANUARY 13, 2020
HEDGING FOR LOAN GROWTH With a flat and low yield curve, borrowers’ demand for long-term fixed-rate loans is high. Furthermore, based on the forward market and most analysts’ predictions, the yield curve is expected to stay low and flat in 2020. The difference between five and ten-year loan rates is currently only nine basis points, and the difference between five and 20-year loan rates is 21 basis points.
Bank Innovation
JANUARY 13, 2020
India has more than 560 million internet users, all generating data by the terabyte. Soon they’ll have an unprecedented amount of control over their digital financial footprints, with the ability to decide what to share, with whom, and for how long. India’s top banks are getting ready to roll out a system that gives consumers […].
South State Correspondent
JANUARY 13, 2020
HEDGING FOR LOAN GROWTH With a flat and low yield curve, borrowers’ demand for long-term fixed-rate loans is high. Furthermore, based on the forward market and most analysts’ predictions, the yield curve is expected to stay low and flat in 2020. The difference between five and ten-year loan rates is currently only nine basis points, and the difference between five and 20-year loan rates is 21 basis points.
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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
Abrigo
JANUARY 13, 2020
Key Takeaways Cross-selling may be the most efficient way for your financial institution to achieve strong growth. Cross-selling to stem “hidden defections” represents huge untapped opportunities for institutions, according to a study by Bain. Having the right technology can play an important role in cross-selling CFI customers or members. Cross-selling: An efficient growth investment.
South State Correspondent
JANUARY 13, 2020
HEDGING FOR LOAN GROWTH With a flat and low yield curve, borrowers’ demand for long-term fixed-rate loans is high. Furthermore, based on the forward market and most analysts’ predictions, the yield curve is expected to stay low and flat in 2020. The difference between five and ten-year loan rates is currently only nine basis points, and the difference between five and 20-year loan rates is 21 basis points.
PYMNTS
JANUARY 13, 2020
Millennials have long been sought-after travel and hospitality customers, partly because they are perfectly placed to seek such experiences. They are old enough to have disposable income, but young enough that they can travel without major health and wellness risks. This unique status creates both opportunities and challenges for firms in the space, as millennials search for the experiences they crave.
Ron Shevelin
JANUARY 13, 2020
Large banks offer more mobile banking features than smaller banks--and that attracts and keeps Millennials.
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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
JANUARY 13, 2020
Foot traffic is flat as digital dominates top-line growth. Purchases are shifting from individual brands to marketplaces. Mobile influences the purchasing and ordering process, regardless of whether the product is ultimately delivered or picked up in-store. Scale economies help big players, and brand affinity helps hyperlocal players compete – while brands in the oversaturated middle struggle to differentiate.
Payments Source
JANUARY 13, 2020
BBVA’s not sure if consumers or merchants will want to use an e-commerce marketplace to make bill payments in the same way they buy clothes — but if they do, BBVA wants to be the one to provide the necessary technology.
PYMNTS
JANUARY 13, 2020
JPMorgan Chase said the launch of CME Group options is building and there is the anticipation of institutional interest in Bitcoin-related contracts. Bakkt , a consortium that includes Intercontinental Exchange, the New York Stock Exchange parent, started giving options last month, according to strategists led by Nikolaos Panigirtzoglou. “There has been a steep increase in the activity of the underlying CME futures contract” over the past few days, Panigirtzoglou wrote, noting that open interest
Matt Wilcox Pro
JANUARY 13, 2020
While public transit lets riders save on gas and turn commute time into reading, work, or Candy Crush time, it lets fraudsters test stolen data. Readers of this blog are doubtless aware that no shortage of account numbers, complete with names, passwords, maiden names, SSNs, PINs, fingerprints, and other personal data, are available for sale on [.
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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
JANUARY 13, 2020
Fitness and wellness are helping to change the face of retail in 2020. Consumers are creatures of habit — but those habits can be complex. And, of course, habits vary according to factors like geography, age and even fitness level. Businesses that can tap into those habits can often tap into a gold mine — but doing so can be much harder than it may seem, even for the smartest and most data-driven of entrepreneurs.
Payments Source
JANUARY 13, 2020
In the near future, payments will be part of the shopping experience itself. Technology that lets customers pay in the fitting room – or automatically, as they walk out of a store – will likely become an everyday reality, says Wirecard's Susanne Steidl.
PYMNTS
JANUARY 13, 2020
Visa has signed a deal to purchase FinTech firm Plaid for $5.3 billion, according to a report. Plaid, which was launched in 2013, is attractive to Visa because it has the technology to get access to a customer’s bank account data, collect it and aggregate it for financial services providers to use. Plaid uses a unified application programming interface (API) to link FinTech apps with people’s bank accounts.
Payments Source
JANUARY 13, 2020
Samsung's upcoming XCover Pro phone, which can accept contactless payments without add-on hardware, is the first of what Visa hopes will be many devices capable of natively handling NFC payments.
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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
JANUARY 13, 2020
As Uber, Lyft and other ridesharing companies continue to prosper, California is seeing a reckoning with the question of their need for regular taxis. To fight back against the dominance of ridesharing apps, the City of Los Angeles is enacting sweeping changes to its taxi system. The change has been a long time coming. Taxis aren’t as appealing to younger people, and have been seeing a cannibalizing of their revenues in Los Angeles, where drivers are petitioning for changes to the Los Angeles Ai
Tom Groenfeldt
JANUARY 13, 2020
Because consumers now expect credit and payment to be integral parts of the overall experience, banks are transforming how they deliver products, and fintechs and digital players have moved into banking.
PYMNTS
JANUARY 13, 2020
The company that developed the Velo Protocol, Lightnet, has raised $31.2 million in a Series A funding round, according to a report by Coindesk Monday (Jan. 13). The round was led by UOB Venture Management, Seven Bank, Uni-President Asset Holdings, HashKey Capital, Hopeshine Ventures, Signum Capital, Du Capital and Hanwha Investment and Securities. “We launched Lightnet to offer low-cost and instantaneous financial inclusivity and mobility to the four billion lives across Asia Pacific — all powe
CFPB Monitor
JANUARY 13, 2020
The orders released today by the U.S. Supreme Court from its January 10 conference did not include any orders regarding the petition for a writ of certiorari filed by the plaintiffs in Collins v. Mnuchin or the petition filed by the FHFA and Treasury Department. The case dockets indicated that briefing on the petitions was submitted for last Friday’s conference.
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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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