Wed.Aug 09, 2017

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How Apple Pay Cash, Apple’s P2P Service, Will Work

Bank Innovation

Fall is around the corner and prepaid card issuer Green Dot, which is the regulated bank partner for Apple Pay, has updates on Apple’s P2P money transfer service that will launch in the coming months. In their earnings call for the second quarter ended in June 30, Green Dot CEO Steven Streit updated investors on developments […].

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Shape the future of European FinTech regulations

Chris Skinner

It was interesting to see the release of a discussion paper by the EBA (European Banking Authority) last Friday. As a regulatory body, they have decided that they need to take action on FinTech, and are asking for input on what action to take. The EBA is taking forward work … The post Shape the future of European FinTech regulations appeared first on Chris Skinner's blog.

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Funding Remains Largest Financial Hurdle Even for Older Startups

Bank Innovation

Startups in all industries face one common challenge: gaining funding. Unlike other financial challenges, this isn’t a problem that disappears with age and experience. This is according to the Small Business Credit Survey released yesterday by the NY Federal Reserve Bank, which found that the majority of startups aged 0-2 years and 3-5 years respectively […].

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What banks will want to become: a living business

Accenture

Winnie-the-Pooh isn’t normally considered a business guru, but it turns out that A.A. Milne had a pretty good grasp on the challenge of digital transformation. “How does one become a butterfly?’ Pooh asked Piglet in one of the stories. ‘You must want to fly so much that you are willing to give up being a caterpillar,’ Piglet replied. ‘You mean to die?

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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What’s Driving the Return of QR?

Bank Innovation

Until recently, choosing between NFC payments and QR codes would have been an easy choice. Now, with EMVCo releasing QR code payment specifications, large processors Mastercard and Visa exploring the method for merchant payments, and popular P2P apps like Venmo using the technology, it seems like the barcode-based system is resurfacing. But what has led […].

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More Trending

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API As Olive Branch? Silicon Valley Bank Seeks To End FI Rivalry

PYMNTS

The rivalry between banks and FinTechs has, at times, been tense if not downright combative. Enter APIs to help the two sides coexist more peacefully. API solutions are doing more than helping two different types of financial institutions find ways to collaborate. By integrating artificial intelligence and machine learning capabilities, companies are relying on API solutions to fight cybersecurity threats and help businesses determine the trustworthiness of a potential trading partner before ent

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Stress testing revisited to avert risk and improve risk ratings

Abrigo

There is a wealth of information made available by regulatory agencies and consultants around which types of loan portfolio stress testing methods should be used by financial institutions. Two ways in which stress testing results can be used to an institution's advantage is to avert risk and improve the risk rating process. Avert Risk The OCC’s October 2012 Supervisory Guidance notes that financial institutions that perform stress testing “have the ability to minimize the impact of negative mark

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BoA Testing Samsung Iris Tech For Authentication

PYMNTS

Bank of America is reportedly launching a pilot of Samsung Electronics technology that will enable customers to access the mobile banking app via a photo of their eye. According to a news report in The American Banker , the trial is part of a bigger push by Bank of America to see how customers react to using different biometric authentications. “One thing we know we need to work on with our customers is, even in today’s day and age of digital natives, there are questions about safety and securit

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Collaborative Ecosystem is the Best Way to Foster Progress – Interview With Laura Gaviria Halaby, Global Head of Acceleration at Citi

Let's Talk Payments

Amidst FinTech’s hype, entrepreneurs around the world often overlook one of the greatest innovation opportunities – the public sector. Meanwhile, the government is one of the most complex and resource-consuming.

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The State of Automation in Financial Services 2024 Report

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

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The Complicated — And Increasingly Crowded — Payments Battle In China

PYMNTS

UnionPay is facing an increasingly competitive and complicated world these days. Some question whether the card-payment network operator will be able to overcome the struggle to “remain relevant” in a market that is quickly changing — and where consumers may soon be leaving card-based payments behind entirely. That “struggle” may not be entirely evident at first glance.

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How FinTech Leaders Are Using the Cloud to Achieve Compliance – Solgari Industry Report

Let's Talk Payments

In the aftermath of the 2008 economic crisis, financial services regulators introduced a number of new measures to safeguard both the integrity and security of the financial system. A key.

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The Cash Flow Effect Of On-The-Spot Invoicing

PYMNTS

The struggle that small suppliers endure to get paid is well documented, but this pain point can be particularly severe for some small service providers. That’s because these companies are often working onsite and in the field, therefore having to issue invoices and accept payment on-the-spot, too. A survey by San Francisco-based technology company Fundbox released in March found nearly two-thirds of small businesses are affected by late invoice payments, with 79 percent reporting they can’t pa

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Encrypted Traffic Analytics – Why Should You Care?

Cisco

I was recently introduced to Dave McGrew – Cisco’s version of Yoda! This unassuming, humble engineer looks like a geography teacher and is the kind of guy who creates encryption algorithms in his spare time as a hobby – just like we might do crosswords (OK, I don’t do crosswords but you get my […].

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Why The Mobile Shopping Experience Needs Retail

PYMNTS

Avert your gaze from your phone for a moment — if you can. If there’s anyone around you, there’s probably a good chance they’re also on their phones. We don’t go anywhere without our smartphones, and that’s because we do everything on them — from talking and texting to engaging in consumer content and shopping. But you already know that (and, by the way, your gaze is probably back on your phone).

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Building a data & analytics talent strategy

Bobsguide

George Nice - Partner in Savannah Group’s Financial Services Practice. More data has been collected over the past two years than in the entire history of the human race. This data-collection frenzy is the result of several technology trends converging and accelerating to give us greater.

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Wayfair Beats Earnings Expectations – Again

PYMNTS

In the eCommerce landscape, conventional wisdom tends to the idea that Amazon’s gravity in digital commerce is so overpowering that it is all but impossible for any entity smaller than Walmart to ever meaningfully compete against them. And a lot of experts have their doubts about whether Walmart – even with its more than $3-billion acquisition of Jet.com – can race against Amazon long term.

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WeChat's size and marketing make it a gold mind for retailers

Payments Source

With close to 900 million monthly active users, WeChat is the most popular social app in China, supporting real-time messaging, social networking, e-wallet and many other functions, writes Franklin Chu, managing director for Azoya USA.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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How Spin Plans To Bring Dockless Bike-Sharing To The US

PYMNTS

Globally, bike-sharing, particularly dockless bike-sharing, has exploded of late. In the last twelve months alone, China has seen over 30 dockless bike-sharing startups enter the fray — though that particular market is currently dominated by two large competitors in the space — Ofo and Mobike. Those two leading firms have raised a combined $1 billion in fundraising dollars between them.

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'Credential on file' removes friction for the shift to e-payments

Payments Source

For issuers, higher online and mobile conversion rates should translate to increased payment volume transacted on their cards, but it opens up a new avenue for intense jockeying over top of wallet status, writes Michael Jabbara, director of digital development markets for Visa.

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New WEX Platform Aims To Get AP Started With ePayments?

PYMNTS

In an effort to help corporate buyers get on board with electronic payments in their accounts payable departments, B2B payments company WEX is launching a new platform to support the shift. The firm said Tuesday (Aug. 8) that it is rolling out an Integrated Payables application, a cloud-based, bank-agnostic tool that supports electronic payments in AP.

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MiFID II Client Reporting: Focus on more than just regulatory reporting

Bobsguide

Peter Lehnen, Manager – Business Consulting at Sapient Global Markets. Within MiFID II, the EU determines the operating conditions for investment firms and defines provisions to ensure investor protection, including the requirements for pre-trade (or ex-ante) cost information.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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Flywire Seeing Strong Growth In Japan’s Education Market

PYMNTS

Flywire, a provider of international payments and receivables solutions for businesses, schools and healthcare providers announced news on Tuesday (August 8) that it is seeing strong growth in the Japanese education market. In a press release, Flywire said that since launching its payments processing service in Japan in April 2016, the company has achieved important milestones across multiple metrics, including the number of schools deploying the service and the amount of money moved.

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8.9.17: Your morning briefing

Payments Source

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: BofA's China move; Digital ID advances in Australia; Password 'rules' creator apologies; ATM marketing expands in China.

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Socure Grabs $13.9M In Funding, Eyes Market Growth

PYMNTS

Digital identity verification company Socure announced news this morning (Aug. 9) that it closed a Series B funding round for $13.9 million. The financing — from firms such as Synchrony Financial, Work-Bench, Flint Capital and Two Sigma Ventures — will be geared toward building scale, increasing infrastructure and seeking what it termed as “new untapped markets.”.

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NCR brings IoT software to ATMs in Europe

Payments Source

NCR Corp. says new ATM software it has placed in units at a European bank will "future proof" the machines and deliver more functions in an advancing contactless payment world.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.