Chris Skinner
JANUARY 20, 2020
Varun Mittal, Associate Partner with EY, recently posted a couple of interesting slides about the launch of virtual banking licences to encourage challenger banks in Asia. If you’re not aware, there’s a great deal of digital banking activity across Asia. It’s not just in China, but there are notable things … The post The virtual banking brew in Asia appeared first on Chris Skinner's blog.
Bank Innovation
JANUARY 20, 2020
Singapore is becoming a haven for e-commerce companies looking to get into banking in Asian markets. In 2019, the Monetary Authority of Singapore announced it would issue three digital wholesale bank licenses and two digital full bank licenses, challenging Singapore’s legacy financial institutions, CNBC reported. The regulator’s moves have created an opening for super apps […].
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PYMNTS
JANUARY 20, 2020
The rumors about hand-based payments out of Amazon have been building for the last few months. In early September 2019, reports emerged that Amazon was testing hand recognition-based payments at Whole Foods locations using its New York employees and some custom-fitted vending machines as an initial experiment. There were also New York Post reports that the technology might make an appearance at Whole Food checkouts this year.
Chris Skinner
JANUARY 20, 2020
Things we’re reading today include … Monzo problems: bank ‘freezing accounts for no apparent reason’ Greenpeace hits out at Davos banks for $1.4tn climate hypocrisy Deutsche Bank’s guide to the worst banking jobs at the start of 2020 Bank cyberattack could hit whole financial system JPMorgan says ‘oui’ to Paris … The post Things worth reading: 21st January 2020 appeared first on Chris Skinner's blog.
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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
PYMNTS
JANUARY 20, 2020
Among other strategies, the U.K. has enlisted a name-and-shame approach to late-paying corporates. Yet analysts agree that the late B2B payments problem continues to worsen. According to recent reports by U.K. publication The Times , small to medium-sized businesses (SMBs) face an extra hurdle when chasing down late payments: collection efforts can damage the buyer-supplier relationship.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JANUARY 20, 2020
Add Australia to the list of countries with central banks looking to bring fiat currencies into the digital realm — with some conditions attached. As stated in a report to the Senate Select Committee on Financial Technology and Regulatory Technology, the Reserve Bank of Australia (RBA) said it has “established a small in-house Innovation Lab as a way to strengthen engagement with, and understanding of, new and emerging technologies that are relevant to its policy and operational responsibilities
South State Correspondent
JANUARY 20, 2020
We work on thousands of lending transactions every year with hundreds of community banks across the country. We participate and help structure financing on commercial real estate, C&I and Ag properties ranging in size from a few hundred thousand to over $100mm, and we collaborate with community bank lenders and underwriters that span the whole gamut of experience.
PYMNTS
JANUARY 20, 2020
Not to be cynical, but mention the world “stationery” to people these days and odds are they minds will move toward a similar word, stationary — the concept of lack of motion, as in a couch potato or a broken-down car on the side of the road. That’s understandable, given how viciously email, texting and other forms of digital and mobile communication have displaced actual writing — which, of course, would seem to reduce the need for actual stationery products.
Matt Wilcox Pro
JANUARY 20, 2020
As of this writing, Mark Zuckerberg isn’t budging: Facebook will still run but not fact-check political ads. Not to worry, however: it will continue suspending users for remarks and images its algorithm deems unseemly. This isn’t the first time that Zuckerberg and his brainchild have stepped on a steaming pile of bad PR. Not to be overlooked [.
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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
JANUARY 20, 2020
Living up to their names, fast-casual and quick-service restaurants (QSRs) are embracing innovative technologies to help drive sales in the increasingly competitive restaurant industry. More restaurant owners are finding the ingredients to success in consumer-friendly technologies, such as mobile-ordering apps and self-service kiosks. Rising demand is fueling growth in the global kiosk market, for example, and could reach $30.8 billion by 2024.
Bobsguide
JANUARY 20, 2020
With banks under pressure to increase profit margins, more are turning to machine learning (ML) to make a significant difference in their middle and back offices. One such area that is gaining greater attention from both the market and regulators is the use of ML and alternative data for credit.
PYMNTS
JANUARY 20, 2020
Never underestimate the value of the “Contact Us” form that every merchant and service provider places somewhere on its website — because no one knows who is going to end up on the other side of it. In the case of Afterpay , the buy now pay later (BNPL) payment services platform, it turned out to be the Kardashian media empire that came to call via the form.
BankBazaar
JANUARY 20, 2020
Your Credit Score is like a deal-breaker of sorts when it comes to credit applications. Despite this, many fail to realise the importance of having and maintaining a Credit Score. On the hunt for a loan or Credit Card ? You ought to know that your Credit Score is one among the major factors that lenders consider while reviewing loan/credit applications.
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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 20, 2020
As Goldman Sachs seeks further expansion in the South African economy, the financial services company joined the Johannesburg Stock Exchange’s interest-rate and currency-derivatives market, Bloomberg reported on Monday (Jan. 20). South African regulators also approved Goldman Sachs for a bank operation license as the firm strives for growth in the most liquid and sophisticated economy on the continent.
Ron Shevelin
JANUARY 20, 2020
Visa's acquisition of Plaid has produced a lot of speculation on what the deal means.
PYMNTS
JANUARY 20, 2020
’Tis the season for … looking back at 2019 holiday sales trends, and figuring out what they mean for payments and commerce so far. Based on the incoming data, it seems that Amazon might not be the traffic driver some retailers expect, that the consumer experience experiment is going well, that mobile wallets might be enjoying a real moment of glory and that apparel sales are moving away from the traditional brick-and-mortar mix, though it’s hard to tell what’s really happening there.
Payments Source
JANUARY 20, 2020
New smartphones have subtle differences that require more complex security solutions, says Fingerprints' Ted Hansson.
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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 20, 2020
FinTechs are helping merchants coordinate all of the different components that a payment entails with payments orchestration. Modo CEO Bruce Parker told PYMNTS that the term signifies “the ability to keep track of all of the different moving parts of a payment” throughout its entire lifecycle. In the old days, however, those in the payments business would generally split the payment lifecycle into what many people would call the front end and the back end — or payments transaction processing an
American Banker
JANUARY 20, 2020
Pushback from banks, a smaller pool of sellers and potential regulatory hurdles could pose setbacks for credit unions this year.
PYMNTS
JANUARY 20, 2020
The U.K.’s open banking platform Tink raised €90 million in an investment round co-led by Dawn Capital, HMI Capital and Insight Partners, Tink announced on Monday (Jan. 20). The startup’s platform links over 2,500 banks and 250 million users across Europe. The new funding is being earmarked for pan-European expansion and the development of new products. .
American Banker
JANUARY 20, 2020
Doug Nielson at U.S. Bank and Jane Barratt at MX explain how men can be more supportive of their female colleagues.
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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 20, 2020
Fraud protection techniques have advanced rapidly over the past decade to keep pace with fraudsters preying on emerging weak points. Bad actors have taken full advantage of the online world’s increasing fragmentation as consumers and businesses alike interact across dozens of channels. Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identity theft.
Bankelele
JANUARY 20, 2020
Stanbic economists release a report on Kenya's growth prospects for 2020.
PYMNTS
JANUARY 20, 2020
Singapore-based financial services company DBS has launched an industry-first, QR code-based solution for B2B payments and collections, the company announced on Monday (Jan. 20). The product was created based on information gleaned from almost 20 DBS digital workshops with food and beverage (F&B) owners who were asked questions about their payments infrastructures and pain points.
The Financial Brand
JANUARY 20, 2020
According to the Digital Banking Report, achieving the most optimal results from digital banking transformation efforts requires top level support and a broad based perspective of change. The post Most Digital Banking Transformation Efforts Are Stalled: Here’s Why appeared first on The Financial Brand.
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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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