Chris Skinner
JANUARY 31, 2019
I got into one very interesting discussion with a digital banker. He was underscoring how important data is in banking, and referenced the fact that banking started with data. It started as a ledger system a thousand years ago so that pilgrims could travel to the Holy Land under the … The post Banks need to be technology giants appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 31, 2019
Mobile point-of-sale systems are a growing consideration for retailers, but carry a number of concerns about fraud and secure payment.
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Bank Innovation
JANUARY 31, 2019
Avoka, a software firm specializing in customer acquisition and onboarding, seeks to bridge a gap at retail banks and credit unions between the back office and the customer journey with the launch of its new module, Workspaces. The module is an automated digital review and approval workspace aimed at solving onboarding delays and customer dissatisfaction […].
PYMNTS
JANUARY 31, 2019
As fraudsters become more brazen in their efforts, banks are realizing they need to do more than simply respond to suspicious activities as they find them. Instead, a deeper understanding of fraud — down to its genetic outline — is needed to be truly effective in fighting it. The new Digital Banking Tracker highlights how banks are adopting new approaches to protect their customers and clients from nefarious actors.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Bank Innovation
JANUARY 31, 2019
Apple envisions an Apple Pay beyond its current role at the point of sale and P2P. The Cupertino tech giant is already looking to embed itself further in retail by pushing for NFC (near field communication) tags in individual items, making checkout lines and POS terminals obsolete, similar to the experience at Amazon's brick-and-mortar locations. "If you see […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 31, 2019
PayPal finally anticipates monetizing Venmo in 2019, nearly six years after acquiring the P2P service. Venmo's revenue run-rate is over $200 million for 2019, PayPal CEO Dan Schulman said in the earnings call Wednesday after market close. In an effort to monetize Venmo, PayPal in February last year added an instant transfer to the service, […].
PYMNTS
JANUARY 31, 2019
Artificial intelligence is making the leap from the imagination of sci-fi authors and computer scientists into consumer and corporate life. But even as the theories become reality, the general idea about AI — the lens through which the technology is viewed — often carries with it misconceptions and faulty assumptions that, over time, could impede AI’s progress.
Bank Innovation
JANUARY 31, 2019
Payments revenue at Facebook is up — way up. The company’s "payments and other fees" category banked a record $274 million in the fourth quarter of 2018, compared with $193 million in the same quarter of 2017, marking a nearly 42% increase. Although payments revenue for the quarter still paled in comparison to the company’s quarterly […].
PYMNTS
JANUARY 31, 2019
In an attempt to earn customer loyalty heading into the Super Bowl pizza rush, Domino’s is offering members of its Points for Pies rewards program a chance to earn points without having to buy a pizza from the chain. Domino’s Senior Vice President and Chief Brand Officer Art D’Elia said in an announcement for the offering, “Instead of advertising during Sunday’s game, we decided to invest in a breakthrough program.
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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
JANUARY 31, 2019
Things we’re reading today include … Deutsche Bank swings to first full-year net profit since 2014 German regulators probe price decline at Wirecard UK fintech shuts US operation to save Chinese deal Barclays trial jury told to ignore defendants’ jokes about prison TSB computer meltdown bill rises to £330m Metro … The post Things worth reading: 1st February 2019 appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 31, 2019
NACHA recently released new figures on ACH network volume, revealing earlier this week that Same-Day ACH volume grew 46 percent between Q4 2017 and Q4 2018, surpassing 50 million transactions for the first time. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S. demand for faster payment capabilities, too.
Bobsguide
JANUARY 31, 2019
Digital-only challenger banks and new market entrants are vulnerable to savvy criminals looking to exploit weak anti-money laundering (AML) controls, according to John Davies, chairman on Kompli-Global and deputy chair of the Emerging Payments Association (EPA). Speaking at the launch of the.
PYMNTS
JANUARY 31, 2019
In a “go big or go home” environment, it is not surprising that so many players prefer to go big. It’s why Apple is playing up its super-sized Services revenue, as opposed to its incredible shrinking iPhone issues. Or why eBay is vocal about its seller growth, and less vocal about its shrinking U.S. sales. Going big can be a way to capture more revenue, as is the case with B2B automation , and a good way to avoid big punishments when things don’t quite go to plan.
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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
Bobsguide
JANUARY 31, 2019
Replacing current market risk models with something that has been derived through artificial intelligence (AI), especially unsupervised machine learning, “we are a long way from seeing that,” says Daniel-Percy Hughes, Consultant at Synechron. “There are a couple of reasons for.
PYMNTS
JANUARY 31, 2019
PayPal kept its 2018 earnings beat streak alive, notching its fourth consecutive earnings beat with its Q4 results announcement yesterday (Jan. 30). Revenue, however, was a slight miss for both the quarter and the year. PayPal posted $4.23 billion during the final quarter of 2018, slightly below analysts’ estimates of $4.24 billion — representing its first sales miss since 2015.
Insights on Business
JANUARY 31, 2019
Like millions of others, I enjoy having a cup of coffee at various retail coffee establishments. Over the years, these coffee shops, especially the large chain variety, have evolved with upgraded choices to increase customer satisfaction and happiness. Enhancements start with mobile app-based personalization such as social currency, rewards programs, and probably most importantly, streamlined service that lets you get your beverage faster than ever before.
PYMNTS
JANUARY 31, 2019
On-demand storage startup Clutter is raising between $200 million and $250 million in a funding round led by Softbank, according to a report in TechCrunch. Clutter is a service that packs, takes and returns people’s things all at the click of a button on an app. The terms of the finance round haven’t been ironed out, but it’s expected to be finalized soon.
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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
JANUARY 31, 2019
Criminals are going to get smarter, but banks can implement a modern authentication solution to meet unique use cases and security requirements without sacrificing user convenience, writes Mike Byrnes, senior product manager at Entrust Datacard.
PYMNTS
JANUARY 31, 2019
Visa shares dropped 2.3 percent on Thursday (Jan. 31) after an announcement by the company of earnings that beat expectations, but also of low growth in payments volume and cross-border transactions, according to reports. The company reported a fiscal first-quarter adjusted net income of $3 billion, up from $2.52 billion a year ago. Net revenue went up 13 percent, from $4.86 billion to $5.5 billion.
Independent Banker
JANUARY 31, 2019
. “I know many of these successes took years, but our efforts are paying off.”. It never ceases to amaze me how powerful we are when we work together, community bankers. Since sharing our advocacy successes with you in December, I’ve been thrilled to see more hard-fought victories come our way. And it’s not by luck—it’s through years of telling our unique stories and making our voices heard.
PYMNTS
JANUARY 31, 2019
British restaurants hit a milestone in 2018 — the number of insolvent ones hit an all time high, and has even doubled since 2010, according to report by Reuters. According to a study by the accountant firm Price Bailey, restaurants are struggling because of the proliferation of delivery apps, and also the saturation of the market. In 2018, there were 1,442 restaurant insolvencies, which is an increase of 40 percent from a year before.
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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.
Bobsguide
JANUARY 31, 2019
Dash Financial Technologies appoints CFO. New York-based fintech Dash Financial Technologies appointed Scott Patrick as chief financial officer, effective January 23. Patrick has 25 years of experience in financial services and financial technology and has held positions of an investment.
PYMNTS
JANUARY 31, 2019
Lego, the Danish toy company, is gearing up for a big expansion in China, reported Reuters. According to a report in Reuters, Lego is planning on doubling the number of stores it has in China, reaching 140. The expansion, reported Reuters, is the company’s fastest in any market and is in response to huge demand for its toys. The demand in China comes at a time when Lego is facing a decline in the U.S. and Western European markets.
Payments Source
JANUARY 31, 2019
Just as Silicon Valley companies are happy to supply their employees with millions of dollars in free meals and snacks at the office to supplement incomes, many Chinese companies are similarly, indirectly liberal outside the office, around expenses, writes Josh Anish, director of marketing at AppZen.
PYMNTS
JANUARY 31, 2019
As it sets a new strategy into motion to drive growth amid its presence in markets around the world, Mondel?z International, Inc. reported fourth-quarter results that were in line with analysts’ expectations. The snack and confectionary company reported revenues of $6.8 billion and earnings of 63 cents per share. Mondel?z Chairman and Chief Executive Dirk Van de Put said in a call with analysts on Wednesday (Jan. 30) that he shared a long-term strategy in September to refocus the company toward
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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.
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