Chris Skinner
APRIL 4, 2019
I find life interesting. Themes recur over and over and over again. Will big banks survive? When will we, will we be cashless? Oh when, will we, will be branchless? Can we really replace the City with a trading network of algorithms? And more. One of my favourite recurring themes … The post Who owns the data? Who’s in control? appeared first on Chris Skinner's blog.
Payments Dive
APRIL 4, 2019
Tableside payment in the restaurant industry has been a growing trend, yet there still remain obstacles to wider acceptance by consumers.
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Chris Skinner
APRIL 4, 2019
Things we’re reading today include … Europe’s zombie banks Biometrics may answer your security concerns – but don’t forget privacy | Gene Marks Tesla CEO Elon Musk in ‘clear violation’ of SEC restraint, court hears Billionaire JP Morgan chief attacks socialism as ‘a disaster’ Tradeweb IPO delivers $1bn bounty for Wall … The post Things worth reading: 5th April 2019 appeared first on Chris Skinner's blog.
Bank Innovation
APRIL 4, 2019
AMSTERDAM -- The algorithms are starting to add up at Temenos. The Geneva, Switzerland-based banking technology company will add up to 15 algorithms for artificial intelligence before yearend. This goes with the 20 or so AI algorithms the company already has available for its clients. Not all of those 20 algorithms, however, are available for […].
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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
APRIL 4, 2019
Luxury brands are selling more and more on Chinese eCommerce sites like JD.com and Alibaba, while still keeping their distance from Amazon, according to a report in The Wall Street Journal. French multinational luxury goods conglomerate LVMH ’s finance chief made his views on Amazon clear in 2016 when he said “the existing business of Amazon doesn’t fit with luxury, full stop.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
APRIL 4, 2019
Small and medium-sized business spend management firm Bento for Business is teaming up with Visa to enhance cash flow management for SMB customers. In a press release on Thursday (April 4), Bento announced its collaboration with Visa to integrate Visa’s business debit card into the Bento for Business platform. Current holders of Visa business debit cards will be given access to Bento’s financial solutions, including expense and spend management, budgeting and bookkeeping functionalit
Bank Innovation
APRIL 4, 2019
New York-based Glia, an omnichannel customer service platform for financial services companies, announced that it recently raised $20 million in a Series B round led by Insight Venture Partners. Lonne Jaffe, Managing Director at Insight, told Bank Innovation that the New York-based VC firm was most impressed by Glia's blend of technology, which includes co-browsing, […].
PYMNTS
APRIL 4, 2019
Out of the haze of uncertainty emerged a new mobile network, and from the new mobile network came new retail applications and experiences, all taking advantage of the faster speed of the technology, and the potential to reduce friction. So goes the imagined story of 5G , even though the narrative has barely progressed beyond the prologue. The mobile technology is moving from the realm of the possible to the world of the real.
Bank Innovation
APRIL 4, 2019
Jamie Dimon recently sent some of his executives to China to scope out the competition in the financial-technology race. They came back motivated -- and a little scared. “It’s hard not to be both impressed and a little worried about the progress China has made” with artificial intelligence and fintech, Dimon, chief executive officer of […].
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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
APRIL 4, 2019
Consumers’ preferences are undeniably shifting digitally when it comes to banking and financial services. According to a recent study by Citibank , 31 percent of consumers use their mobile banking app more than any other — placing mobile banking behind only social media and weather for most frequented mobile destinations. And by all accounts, this digital migration is driven by consumer preference — according to the same study, 91 percent of mobile banking users prefer accessing their app over
Payments Source
APRIL 4, 2019
As the consumer payments technology market is becoming saturated, B2B payments have captured the attention of the investment community, writes Karla Friede, CEO of Nvoicepay.
PYMNTS
APRIL 4, 2019
About two years ago, Walmart teamed up with Green Dot and Commonwealth, for a prepaid card savings program. On Thursday (April 4), the company announced that customers “have moved more than $2 billion through the program’s virtual Vault, a safe and accessible way to save money through the Walmart prepaid MoneyCard.”. Customers can also win money using the program.
Payments Source
APRIL 4, 2019
Compliance officers should demand better means to quickly gather, organize, and view data regarding accounts and transactions that may be partaking in financial crime, argues Elsa Chan, head of Americas for ComplyAdvantage.
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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
APRIL 4, 2019
FinTech firms may not be the only ones that traditional financial institutions (FIs) need to keep an eye on. About six in 10 consumers have said they would be open to banking with non-FIs if they could — especially with big-name brands like Amazon , PayPal and Walmart. Younger consumers, as it turns out, are particularly open to receiving financial services from retail merchants and FinTech firms.
Bobsguide
APRIL 4, 2019
Banks must stop experimenting and make their entire infrastructure digital-first or face greater competition from fintechs and risk disappointing a demanding customer base.
PYMNTS
APRIL 4, 2019
In a move to take on Apple’s wireless earbud dominance, Amazon is planning to make its own version with Alexa capability, according to a report by Bloomberg. The company is preparing to release earbuds with built-in Alexa functionality, possibly by the end of this year. They will look like AirPods, but Amazon is reportedly aiming for better audio quality.
Bobsguide
APRIL 4, 2019
“APIs and ISO20022 are actually completely incompatible with one and other. You wouldn’t want a modern agile API using ISO 20022 standards because [the standard] is too thick and too heavy,” said Craig Ramsey, ACI’s head of real-time payments at an industry event this week in.
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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
APRIL 4, 2019
FinTech provider WEX announced it has partnered with Sydney-based supply chain technology provider and financier Octet. Octet allows Australian SMBs to manage and pay local and international suppliers. The partnership will enable Octet’s customers to use WEX’s virtual credit cards to pay their suppliers. “The partnership will arm local businesses with more power to trade locally and internationally.
Payments Source
APRIL 4, 2019
As more stores either close down or try to ban the use of cash, they aren't necessarily driving cash users to cards and mobile wallets. Instead, they are driving some to an environment that is, counterintuitively, more cash-friendly than ever: e-commerce.
PYMNTS
APRIL 4, 2019
The threat of cyberattacks continues to grow, and small businesses (SMBs) are caught in the crosshairs. The latest research in small business cybersecurity has revealed the relentless nature of the threat, with new strategies emerging and new strains of ransomware rearing their ugly heads. As a result, 71 percent of ransomware attacks are now targeting small businesses, according to a report released by Beazley Breach Response (BBR).
Payments Source
APRIL 4, 2019
When cutting through the noise generated by the highs and lows of cryptocurrency value, the underlying blockchain technology is poised to keep advancing toward mainstream 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
APRIL 4, 2019
Amazon just entered a whole new market now that Alexa , its voice-activated digital assistant, is HIPAA -compliant, which it means it can handle patients’ sensitive information. In a blog post , Amazon announced an invitation-only program that will enable developers to create healthcare skills for Alexa that are HIPAA-compliant. Rachel Jiang, head of health and wellness for Amazon Alexa, said select developers will be invited to build Alexa skills that transmit and receive protected health infor
Payments Source
APRIL 4, 2019
System breaches similar to events at Equifax and Marriott could just as easily happen to credit unions, leading Mastercard and the credit union service organization, PSCU, to take protective measures.
PYMNTS
APRIL 4, 2019
SWIFT announced Thursday (April 4) that its working group of payments industry experts is creating a common end-to-end implementation to increase the move of cross-border transactions to the ISO 20022 standard. In a press release, SWIFT said the community has decided to create the standard in light of multiple planned migrations to ISO 20022. SWIFT noted that creating a standard will increase efficiencies, support end-to-end STP, facilitate improved regulatory compliance, improve the party ident
Payments Source
APRIL 4, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Apple Pay jumps in Australia; Blockchain advances for health care payments; A new DLT group in Europe; Facebook suffers another security vulnerability.
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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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