Wed.Aug 14, 2019

Is transparency a good thing?

Chris Skinner

Who wants transparency when you can have magic? Do you watch The Crown? If not, maybe you should as Series 3 is about to begin with Olivia Coleman, a great actress.

Achieving Compliance in Record Time - AADHAAR TOKEN GATEWAY

Mobile Payments Today

India’s leading bank leverages FSS Aadhaar Token Gateway to tokenize 5M Aadhaar records and protect customer data against breaches. Learn more

Things worth reading: 15th August 2019

Chris Skinner

 As Supply Chains Enter Digital Age, Onboarding Plays Catch Up

PYMNTS

Making the leap to better supplier onboarding — through digital, rather than paper — means breaking down the silos.

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Why SellersFunding sees an opportunity with Amazon, eBay merchants

Bank Innovation

As e-commerce merchants’ needs become more complex, the ecosystem of small-scale lenders continues to expand to meet demand. On Wednesday, U.S.-based based e-commerce loan provider SellersFunding announced its expansion plans to Canada and the U.K.,

Banks Tap FinTechs For Remittance Overhaul

PYMNTS

The cross-border payment market is thriving, and trends are expected to continue over the next few years. In fact, cross-border payments are expected to reach $240 billion in value by 2024. For these transactions to run smoothly, however, communication must remain seamless and secure.

European fintechs escape troubles afflicting established banks

Bank Innovation

When Swedish banking firm Klarna became Europe’s most valuable financial technology startup last week, it was only the latest sign that digital finance has escaped the troubles afflicting legacy lenders. Its latest fundraising gave Klarna, which facilitates online installment payments, a $5.5

More Trending

German payments giant Wirecard targets US with new app

Bank Innovation

Wirecard, a Germany-based payments firm that works with brands and retailers, recently launched its first U.S. mobile application in an effort to expand its reach across the Atlantic. The 20-year-old publicly-traded company, which recently reported consolidated revenues of $1.3

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New Zealand Paves Way For Crypto Payroll

PYMNTS

New Zealand will now allow employers to compensate their workers in cryptocurrency, reports in Blockchain News said Tuesday (Aug. New Zealand tax authorities published a ruling this month that includes guidance for employers that wish to pay their staff in cryptocurrency.

CIT buys Mutual of Omaha Bank to reach homeowners associations

Bank Innovation

CIT Bank will acquire Mutual of Omaha Bank for $1 billion in cash and stock to help grow its deposit and commercial banking business, the company confirmed on Tuesday.

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Alleged CapOne Hacker Might Have Stolen Data From 30+ Companies

PYMNTS

Paige A. Thompson , who has been accused of hacking into Capital One ’s cloud and compromising the data of 100 million people, may have also hacked into upwards of 30 other companies, according to a Bloomberg report.

The SAFE Banking Act Update – Is Regulation for Banking CRBs on the Horizon?

Abrigio

Many in the financial crimes community have been waiting for some sort of guidance on banking cannabis-related businesses. The Secure and Fair Enforcement (SAFE) Banking Act was introduced to address the cannabis banking issue and the accompanying lack of banking services to the cannabis industry, forcing significant amounts of cash to be stored in vaults or underground.

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PayPal Wants To Capitalize On India’s Mobile Growth

PYMNTS

As PayPal reaches saturation points in Western markets, it wants to continue to expand internationally, especially in India, where the country’s 450 million mobile users make it an attractive target for retailers.

Contents Cover- the under-served aspect of property insurance innovation

Daily Fintech

image TLDR Consider: Structure losses– estimated to the nearest square foot or square meter. Plenty of automated tools and techniques, and plenty of auditing for consistency. Contents losses– manual assessment and data entry.

Bento Launches Email-Powered B2B Invoices

PYMNTS

Business expense management firm Bento is introducing a new solution, Bento Pay, which allows business owners to make payments using only an email address. In a press release Tuesday (Aug.

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Lessons from the Capital One Data Breach

Gonzobanker

Let’s be honest. When most financial executives read the headline “Capital One Data Breach,” they had two thoughts: How is this going to impact the financial sector? Thank goodness it wasn’t my institution! It’s not that executives are unsympathetic.

How Faster Payments Can Help Retain Employees

PYMNTS

New developments could speed up instant payments in the U.S. Last week, the Federal Reserve announced it would give some competition to The Clearing House’s Real Time Payments (RTP) with its own real-time payments service, FedNow.

Podcast: AI, Community Banks and the Compliance Jobs of the Future

ABA Community Banking

Former Comptroller of the Currency Eugene Ludwig talks about the current state of artificial intelligence in banking and the outlook for community banks and compliance professionals. The post Podcast: AI, Community Banks and the Compliance Jobs of the Future appeared first on ABA Banking Journal.

Handling Unstructured Data In Procure-to-Pay

PYMNTS

Corporates have a lot on their plate when it comes to digitization, cloud migration, data security and overcoming silos between back-office platforms opens a world of opportunities for businesses to boost efficiency and improve bottom lines — but it’s no easy mountain to climb.

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Achieving Compliance in Record Time - AADHAAR TOKEN GATEWAY

ATM Marketplace

India’s leading bank leverages FSS Aadhaar Token Gateway to tokenize 5M Aadhaar records and protect customer data against breaches. Learn more

Credit Karma Displayed Account Info To Wrong Users

PYMNTS

Credit Karma users took to Reddit and Twitter on Wednesday (Aug. 14) to complain that when they logged in to the service, they were given other people’s account information, according to a report by TechCrunch.

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Why Apple card will succeed; Opening the Fed payments system

BankThink

Offering 3% on purchases through its App Store, Apple hopes to make its competitors' phones a less-appealing option; a call for speeding up FedNow. Morning scan Credit scores Credit cards Payments Underbanked Apple Berkshire Hathaway Federal Reserve

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Macy’s Rough Earnings Ride And The Troubled Future Of The Department Store 

PYMNTS

There are earnings misses, and there are big earnings misses, and Macy’s spring quarter results Wednesday (Aug. 14) were far more a case of the latter than the former.

Facts you can use about the Equifax settlement

CFPB

If you were affected by the 2017 Equifax data breach, you may be eligible to claim compensation and benefits because of a legal settlement. . Info for consumers Privacy Credit reports and scores Data Enforcement

UK Biometrics Firm Failed To Protect Sensitive Data

PYMNTS

A large breach of personal data, including one million fingerprints, facial recognition info, passwords and other sensitive information, was found to be publicly accessible by a company that provides centralized data access for security organizations, according to a report by The Guardian.

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Deutsche Bank shows it learned nothing from the 2008 crisis

BankThink

The global bank’s overhaul plan will put taxpayers and the financial system at risk. TBTF Crisis management Portfolio management Portfolio diversity Restructuring TARP Deutsche Bank

Why The Future Of Social Media Might Be About Thinking Smaller 

PYMNTS

The world of social media can be a rough sea to sail in. There are plenty of pleasant corners of course — filled with family vacation photos, cats, how-to videos, some top-shelf dad jokes, fashion advice and opportunities to purchase all kinds of useful and interesting things.

Allied Payment Network, Mahalo Technologies partner for digital payment tools

The Paypers

(The Paypers) Allied Payment Network has partnered with Mahalo Technologies to allow Mahalo to offer Allied`s bill pay services integrated with Allied`s real-time payment technology

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P2P Payments Find Fresh Fuel As The 2020s Loom

PYMNTS

Peer-to-peer (P2P) payments are blazing a hotter path in the digital economy as the second half of 2019 gets underway – and there is fresh evidence that the payment method is not only growing, but helping to influence related endeavors.

The Fed's public option for faster payments does more harm than good

Payments Source

Were the Fed to develop its own payments platform, it would be expensive, duplicative, inefficient, and curtail development of real-time services, argues the National Taxpayers Union's Thomas Aiello. ISO and agent Faster payments Payment processing Banking Central banks Real-time payments

Retail Innovation Depends On Older Consumers, Too

PYMNTS

Youngsters tend to get all the credit when it comes to being a force that drives retail innovation, and that’s fair enough. Their mobile habits, for instance, are fueling so much change in commerce and also payments. But older consumers shouldn’t be counted out, either.

FTC misled consumers about Equifax settlement, Warren says

BankThink

The Massachusetts Democrat is questioning a claim by the agency about the amount of redress available to those affected by the credit bureau's 2017 data breach. Credit reporting FCRA Data breaches Elizabeth Warren Equifax FTC

Amazon To Donate, Not Destroy, Excess Inventory For Third-Party Sellers

PYMNTS

Amazon is launching a new program that will allow third-party sellers to donate excess or unwanted inventory to charity. The new program — Fulfillment by Amazon (FBA) Donations — enables sellers to store their inventory in the eCommerce giant’s warehouses in the U.S. and U.K.,

Client Note: New Zealand Allows Crypto Wages, Reliance Jio Forms Cloud Partnership With Microsoft, Smart City Startup Raises $280M+, And More

CB Insights

Fintech. New Zealand allows crypto for salary payment. The New Zealand tax office has made it legal to pay salaries and bonuses in cryptoassets in a ruling that will go into effect in September and last for at least 3 years. Want the full post? Become a CB Insights customer. If you’re already a customer, log in here.

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Amex GBT Broadens Middle East Footprint

PYMNTS

American Express Global Business Travel (Amex GBT) is strengthening its presence in the Middle East through a new collaboration with Kanoo Travel, Travel Daily Media reports said Tuesday (Aug.

Racial divide exposed in lending to the smallest of small businesses

BankThink

Black and Hispanic owners of one-person businesses are more likely to be discouraged from applying for financing, and they’re less likely to receive financing when they do apply for it, than their white counterparts, according to a new report from the New York Fed.

Facebook Playground Looks To Connect With Israeli Startups

PYMNTS

Facebook COO Sheryl Sandberg was in Tel Aviv on Wednesday (Aug. 14) to introduce the social media giant’s “Playground” as a new platform for the local startup community. .