Payments Dive
AUGUST 6, 2019
AI and machine learning for banking are getting a huge amount of attention these days, but the question remains: can these technologies truly replace human interaction and in-depth analysis of data?
Abrigo
AUGUST 6, 2019
The Financial Crimes Enforcement Network (FinCEN) is tasked with protecting the financial system both within the United States and internationally. Financial criminals are working hard, using technology and innovation to their advantage, to stay one step ahead of FinCEN and financial institutions. At the recent NYU Law Program on Corporate Compliance and Enforcement , FinCEN Director Kenneth A.
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Payments Dive
AUGUST 6, 2019
A proposed faster payments regime from the Federal Reserve may be just the beginning of a years-long turf battle among various sectors of the payments industry, government and other sectors.
Chris Skinner
AUGUST 6, 2019
It’s the holiday season, so my wife dragged me off to Disneyland with the children. It was a great experience but, halfway through, I saw this t-shirt: “It was all started by a mouse” Now it wasn’t. It was started by Walt and his brother who became a formidable team. … The post Everything is open to change 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
AUGUST 6, 2019
In its biggest acquisition to date, Mastercard will buy Nets for 2.85 billion euros ($3.19 billion). With the purchase of the Denmark-based payments platform, Mastercard is picking up an electronic billing platform that offers clearing and instant payment services, according to a statement on Tuesday (Aug. 6). Mastercard also confirmed that the purchase will take a bite out of its profits for up to two years after the deal closes, which is expected to happen sometime in the first half of 2020.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
AUGUST 6, 2019
It’s now official. The Fed plans to build its own instant clearing and settlement rails. Introduced on Monday by Federal Reserve Board Governor Lael Brainard, the Fed’s instant payment scheme FedNow is designed to offer an option for consumers and business to transfer money instantly or nearly instantly in a “ubiquitous, safe and efficient” manner from one bank account to another.
Chris Skinner
AUGUST 6, 2019
Things we’re reading today include … Mastercard buys Nets Group’s unit for $3.2bn Sweden’s Klarna becomes biggest fintech firm in Europe JPMorgan confirms winning bid to take majority stake in China fund JV No-deal Brexit: How might it affect the EU? Some Wall Street workers face pay slump in 2019: … The post Things worth reading: 7th August 2019 appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 6, 2019
Klarna, flush with $460 million of new equity funding, is planning to conquer New Zealand and Australia, not just the U.S. Expansion to the two Oceana markets were added are at the behest of Commonwealth Bank of Australia, Australia’s largest retail and commercial bank. Commonwealth participated in the equity round and, in turn, the Sweden-based […].
PYMNTS
AUGUST 6, 2019
The best is yet to come. As long as checkout and payments are part of the plan. In one sense, that describes the situation for mobile commerce — specifically, retail apps — as 2020 looms. New research from PYMNTS and LISNR digs deep into consumer views of mobile retail apps. In a new interview, Karen Webster and Chris Ostoich, co-founder at LISNR , talked about those findings and discussed what retailers must do to drum up even more interest in and loyalty to their mobile apps.
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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
Bank Innovation
AUGUST 6, 2019
Ibotta, a seven-year-old cashback rewards app, has raised an undisclosed amount of Series D funding, led by Koch Disruptive Technologies, at a $1 billion valuation. The funding will allow the Denver-based company to fine-tune its features, including Pay with Ibotta, a recently-launched QR-code based ‘pay with rewards’ capability; advance its marketing strategy; and grow its […].
PYMNTS
AUGUST 6, 2019
The past is never dead. It’s not even past yet. That famous quote comes from William Faulkner and it’s often trotted out to provide meaning and important to various situations, speeches and commentary. Allow us at PYMNTS to do our own small part in that ongoing effort, and apply that quote to the world of B2B customer experience — and the never-ending push to build a better digital ecosystem around that concept.
Bank Innovation
AUGUST 6, 2019
Mastercard Inc. agreed to buy a payments platform owned by Denmark-based Nets for 2.85 billion euros ($3.19 billion), using its biggest-ever acquisition to help extend a push into faster payments. With the purchase, Mastercard is getting an electronic-billing platform and clearing and instant-payment services, according to a statement Tuesday. The company said the purchase will […].
PYMNTS
AUGUST 6, 2019
Payments startup Stripe has announced that it’s opening up an office in Mexico City to take advantage of opportunities for growth in the Latin American region , according to a report by CNBC. Stripe said it wants to get engineers from the area and take advantage of the fast-growing mobile payment and eCommerce sectors. Stripe was started in San Francisco, and it competes with Square and Adyen to help businesses facilitate payments over the internet.
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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
AUGUST 6, 2019
As Apple Card’s public test begins this week with a limited number of consumers, details are emerging about how the tech giant is differentiating its product from other cards.
PYMNTS
AUGUST 6, 2019
As Apple makes a broader push to expand its services business, the technology company has invited certain customers to apply for the Apple Card. The card is in partnership with Goldman Sachs , and Apple CEO Tim Cook said during the company’s third quarter earnings call that it would be released in August, CNBC reported. Apple is looking to bolster revenues as sales of iPhones slow , while the card is an opportunity for Goldman Sachs to grow its reach into retail banking.
Insights on Business
AUGUST 6, 2019
Payments modernization initiatives around the globe have long been a topic of huge interest and are at different stages of implementation in different countries. Time and again, it has proven to be a catalyst for transformation that has fueled innovation. Canada is now completely into this modernization party, driven by the modernization agenda and timeline set by Payments Canada.
PYMNTS
AUGUST 6, 2019
American Express has completed its acquisition of Resy, a restaurant booking service, and will offer a number of perks to card members, according to a news release. The credit card company said it wants to expand what Resy already does and develop products that will provide new experiences for customers. . There are a number of upcoming events which begin in August for card members.
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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.
Payments Source
AUGUST 6, 2019
Mastercard has spent more than $4 billion on investments so far in 2019 to thread a needle between several must-haves in the digital payments market.
PYMNTS
AUGUST 6, 2019
Walmart-owned eCommerce firm Flipkart is introducing a Hindi version of its app that will include free videos as well as other tech perks, like premium content, TechCrunch reported on Tuesday (Aug. 5). . Flipkart’s ultimate goal is to lure 200 million online consumers with streaming movies, shows and entertainment in direct competition with rival Amazon, which is rolling out eCommerce in India with Reliance Industries, the news outlet said.
Payments Source
AUGUST 6, 2019
As technology advances, new terms are existing with older vocabulary, causing potential confusion that challenges user experience, says NvoicePay's Alyssa Callahan.
PYMNTS
AUGUST 6, 2019
There’s practically an app for everything: banking, shopping, ridesharing, photo editing and more. Over 5 million mobile apps are available in the App Store and the Google Play Store, but according to the new report, Which Apps Will They Use? Engaging Brick-And-Mortar Shoppers Via Mobile Apps , 77.6 percent of consumers keep just five or fewer merchant apps on their mobile phones at any given time.
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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.
Payments Source
AUGUST 6, 2019
Mastercard Inc. agreed to buy a payments platform owned by Denmark-based Nets for 2.85 billion euros ($3.19 billion), using its biggest-ever acquisition to help extend a push into faster payments.
PYMNTS
AUGUST 6, 2019
Some entrepreneurs come across an emerging technology and find a new way to apply to it to everyday problems. Eddy Travels Co-Founder and CEO Edmundas Bal?ikonis, for instance, went on a trip to China and saw how they used WeChat for anything they do from ordering and paying for a taxi to making online purchases. Many of the features were powered by mini-programs of WeChat — some of which were like chatbots.
Insights on Business
AUGUST 6, 2019
Payments modernization initiatives around the globe have long been a topic of huge interest and are at different stages of implementation in different countries. Time and again, it has proven to be a catalyst for transformation that has fueled innovation. Canada is now completely into this modernization party, driven by the modernization agenda and timeline set by Payments Canada.
PYMNTS
AUGUST 6, 2019
The state of Louisiana has entered legal marijuana territory with medical cannabis access beginning this week. As a result, the state has also entered the troubled waters of cannabis banking, with legal players in the state’s marijuana industry struggling to access banking and financial services. Global Payout Inc. subsidiary MTrac Tech Corp. announced Monday (Aug. 5) the launch of its MTrac payment platform in the state, designed to facilitate payments down the marijuana supply chain.
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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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