Chris Skinner
JUNE 17, 2019
I was having dinner with a friend the other night, when he asked me: “what do you think about the fast follower strategy?” I said it was stupid and doesn’t work. He then added that the major bank he’s working with are proud that this is their strategy. Now, here’s … The post Fast follower strategies = final failures appeared first on Chris Skinner's blog.
South State Correspondent
JUNE 17, 2019
CRE UNDERWRITING Recent data, just released from Real Capital Analytics, shows that since the start of the year (month-end April), commercial real estate (CRE) has appreciated 2.6% in 2019. This is good news for banks as it shows that every significant loan sector likely has improvements in both debt service coverage and loan-to-value. In major markets, this appreciation has been closer to 4.9%, and in secondary markets, price appreciation has been 1.5%.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Bank Innovation
JUNE 17, 2019
HSBC, a top global bank with $2.6 trillion in assets, is making technology a core component of U.S. branch expansion plans. The bank today announced the opening a new location in Cupertino, California, along with 50 planned new branches in the U.S. to be constructed over the next four years. Jeremy Balkin, head of innovation […].
PYMNTS
JUNE 17, 2019
Sometimes there are two approaches to the same problem in FinTech: EMVCo’s recently released EMV Secure Remote Commerce (SRC) Specification version 1.0 promises to enable many more seamless retail transactions, and the World Wide Web Consortium ( W3C ) Payment Request application programming interface (API) aims to reduce checkout friction. Modo CEO Bruce Parker told PYMNTS.com in an interview that they are both looking to solve the same problem, “which is simply and securely gathering payment d
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
JUNE 17, 2019
BBVA USA through its Open Platform, a banking-as-a-service platform launched last October, has secured seven fintech clients, tens of thousands of new customers and $2.6 million in new deposits to the bank “Through Open Platform alone, we've added close to 50,000 customers to the bank, and those 50,000 customers and their associated deposits and payment transactions […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JUNE 17, 2019
Money management app Emma, which bills itself as customers' "best financial friend," is on the hunt for U.S. customers. The app, which was developed by a startup team of 12 people based out of London, launched in the U.S. last week, and its approach for now is through word-of-mouth referrals, according to co-founder Edoardo Moreni. […].
PYMNTS
JUNE 17, 2019
In what could be one of the first investments by a crypto-based firm in a major U.S. firm that is publicly traded, Ripple Inc. has arranged to invest up to $50 million in MoneyGram International Inc. Ripple is the company behind the XRP digital currency, The Wall Street Journal reported. Ripple’s Chief Executive Brad Garlinghouse said, according to the newspaper, “This deal is a major milestone for the entire industry.
Chris Skinner
JUNE 17, 2019
Things we’re reading today include … Why the Dutch Hate Bankers Lloyds launches a banking app to view current accounts, savings and credit cards all in one place The Bank of England’s biggest problem? The City of London Loot founder and 17 team members join RBS’s digital bank Bó KPMG … The post Things worth reading: 18th June 2019 appeared first on Chris Skinner's blog.
PYMNTS
JUNE 17, 2019
The rise of faster payment systems has become a global phenomenon. In the past few years, several global markets have invested resources into developing payment systems and infrastructure that enables funds to be delivered in real-time and that operate on a 24/7 cycle. The U.K., the U.S., Hong Kong, India and Australia are among just a few of the nations to launch their own local faster payment systems while a host of other countries are moving forward with their own plans to launch a faster pay
Advertisement
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
Accenture
JUNE 17, 2019
Guest bloggers Ben Lopez and Charlie Arthy continue their series on achieving simplified, future-ready bank operations. . For banks to take full advantage of the opportunities brought by Open Banking—from monetizing data to banking-as-a-platform—to grow their business, they will need to embrace and infuse Open Banking technologies into their operations.
PYMNTS
JUNE 17, 2019
Open banking is nothing if not a lot of moving parts and complications. But could merchant incentives help fuel this ongoing effort at digital payments innovation? That was one of the questions raised in a new PYMNTS interview with Ireti Samuel-Ogbu, Citigroup ’s head of payments and receivables for Europe, Middle East and Africa. In a discussion with Karen Webster, Samuel-Ogbu talked about the role of API aggregation and how incentives can help to ignite open banking, one of the main efforts no
South State Correspondent
JUNE 17, 2019
DEPOSIT MARKETING You have probably heard that digital display ads, those small billboards that pop up on mobile, social channels and websites are worthless. While they are some of the least effective advertising we do, since you are buying attention, bankers need to consider display ads for every marketing campaign.
PYMNTS
JUNE 17, 2019
Smart technology is what makes ordering by voice and remotely monitoring your home possible. Promising as intelligence of things (IoT) solutions are, though, security has been a stumbling block. The June IoT Tracker explores the latest advancements in IoT security and new applications of smart technology. According to the tracker, the global IoT security market is expected to increase by a 35.5 percent CAGR from 2019 to 2026.
Advertisement
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
Ron Shevelin
JUNE 17, 2019
UK challenger bank Monzo announced plans to enter the US market. To succeed, it will need to deliver on some combination of five factors.
PYMNTS
JUNE 17, 2019
Target faced a register outage that lasted for about 90 minutes on Sunday (June 16), which meant it couldn’t process cards or other forms of payment. The complication caused long lines and wait times in the store, and the company placed the blame on an issue related to a vendor, according to a report by Reuters. The outage was the second one in a week experienced by the retail giant, and the company blamed payments vendor NCR, saying that there was an issue in a data center that completely affec
Payments Source
JUNE 17, 2019
Investment in B2B fintech startups has been ramping up for the past couple of years, and in the next year we’ll start to see businesses reaping the benefits of the fintech wave, says Nvoicepay's Karla Friede.
PYMNTS
JUNE 17, 2019
The United States is currently weathering a healthcare worker shortage that is estimated to get quite a bit worse before it gets better. According to healthcare staffing consultancy Mercer , to cover the needs of an aging population as baby boomers sail into their golden years, the U.S. will need to hire 2.3 million new health care workers by 2025.
Advertisement
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
JUNE 17, 2019
Target in the past 48 hours suffered a pair of unrelated point of sale outages that had at least one thing in common — they resulted in consumers scrambling for a contingency that would have been little problem as recently as four or five years ago.
PYMNTS
JUNE 17, 2019
In a new partnership, Bottomline Technologies is teaming up with Starling Bank on a Real Time Payments Express Service. The offering will enable corporates and banks to send and receive as well as monitor payments to any U.K. bank account in real time, Crowdfund Insider reported. Starling Bank Head of Banking Services Julian Sawyer said per reports, “Real-time payments are becoming the new norm around the world.
Payments Source
JUNE 17, 2019
The fraud challenge faced by issuers and merchants alike has become increasingly complex over the last few years with the prevalence of e-commerce and cross-border payments. Visa's response to these trends has benefited heavily from the global scale it got by reabsorbing Visa Europe in 2016.
PYMNTS
JUNE 17, 2019
Discover Financial Services said Monday morning (June 17 th ) that it has ended fees on deposit accounts. The company said in a release that customers with checking, savings, money market or CD accounts held with Discover Bank “can now rest easy” with the knowledge that fees will not accrue in the event of “an occasional oversight or pressing need.”.
Advertisement
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.
Payments Source
JUNE 17, 2019
Payments Canada is proposing to allow delayed transaction authorization to enable debit cards to be used in open-loop transit — and the change could affect far more than commuters.
PYMNTS
JUNE 17, 2019
American Express said its May card delinquency rate was unchanged from April, according to reports. The rate held steady at 1.4 percent. Net write-offs, however, did move slightly in may, from April’s 2.4 percent to 2.5 percent, and the small business card delinquency rate went up to 1.3 percent from 1.2 percent in the same time period. Small business card net write-offs also increased, from 1.8 percent in April to 2 percent in May.
Let's Talk Payments
JUNE 17, 2019
In May 2019, FinTech startups across the globe raised $2.67 billion worth of VC/PE investments across 121 deals. The US heavily dominated the funding charts with $1.59 billion, which was a whopping 59.6% of the global FinTech funding in the fifth month of 2019. The United Kingdom was a distant second with a 12.1% ($325.4 million) contribution, with Canada and Mexico contributing 4.3% ($117.5 million) and 3.9% ($105.5 million) respectively.
PYMNTS
JUNE 17, 2019
The dispute over the Office of the Comptroller of the Currency ‘s (OCC’s) national bank charter, which became available to FinTech firms last year, has reportedly caused technology conglomerates to shy away from a tool that aims to provide nonbank firms with a more streamlined way to operate on a national level. The OCC held meetings with technology conglomerates Google , PayPal and others about the possibility of bank charters for the firms, reports in American Banker said on Monday
Advertisement
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.
Expert insights. Personalized for you.
308 
Let's personalize your content