Bank Innovation
FEBRUARY 5, 2018
EXCLUSIVE—Users of roboadvisor investment service Betterment who hoped to minimize the damage of the DOW’s crash—1,500 points as of last count—are finding themselves unable to access their portfolios or even make it to the website. The DOW’s present tumble led many to check on their investments and stocks, but Betterment customers trying to do so […].
Chris Skinner
FEBRUARY 5, 2018
Things we’re reading today include … Bitcoin bombs below US$7,000 as sell-off accelerates amid bank bans and regulation concerns A Tiny Canadian Bank Is Building a Vault for Crytpocurrencies EU risks ‘serious’ impact on financial markets without trade deal, watchdog warns Lloyds Bank bans Bitcoin purchases on its credit cards … The post Things worth reading: 6th February 2018 appeared first on Chris Skinner's blog.
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Bank Innovation
FEBRUARY 5, 2018
Berlin-based challenger bank Penta has raised €2.2 million (or $2.7 million) in seed funding, the bank announced today. The funding, led by London-based VC Inception Venture Capital, will be used to further expand Penta’s team, as well as product development, as reported today by TechCrunch. The startup focuses on small- to medium-sized businesses, including startups, […].
PYMNTS
FEBRUARY 5, 2018
Daimler’s Mercedes and Bosch are gearing up to test driverless taxis on the roads in the coming months. Engadget, citing German news site Automobilwoche, reported that Bosch head Volkmar Denner said the first test taxi will be on the roads in the coming months. He didn’t provide other details, reported Engadget, but did offer up more of a timetable for the initiative.
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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
Bank Innovation
FEBRUARY 5, 2018
British challenger bank, Tandem is partnering with Personetics, a cognitive banking company. Through the partnership, Tandem is seeking to provide its customers PFM features including personalized guidance on their spending as well as alerts on fees. Tandem’s chief executive, Ricky Knox, said in a statement today: Our primary focus is making money so easy for […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
FEBRUARY 5, 2018
EXCLUSIVE— One of the largest draws for a credit card is its rewards program—an area banks have been competing in for decades. But will the approach need to change as more consumers chose to bank exclusively on mobile? For Citibank, the answer is no. The bank is going to focus on integrating the rewards program […].
PYMNTS
FEBRUARY 5, 2018
After struggling for years with decreasing sales and mall traffic, Bon-Ton Stores has filed for bankruptcy. The retailer said it voluntarily filed for Chapter 11 bankruptcy protection in Delaware and is exploring a sale, Fortune reported. Before the announcement, Bon-Ton announced it would shutter 40 out of its 260 brick-and-mortar stores across its various brands.
Bank Innovation
FEBRUARY 5, 2018
EXCLUSIVE – Add one more to the mix. Today Lloyds Banking Group confirmed it has banned customers from buying bitcoin with their credit cards. The move comes only days after U.S. banks including Bank of America, Citi, and JPMorgan Chase have done the same. For Lloyds, that ban includes card credits for all the banks […].
PYMNTS
FEBRUARY 5, 2018
To run a popular burger restaurant, it’s not enough to simply have a good grill and a fresh beef patty. With advances in technology, what happens online — outside the kitchen — can make a good restaurant experience a great one. At Shake Shack, for example, CEO Randy Garutti is focusing on new digital options to make his customers leave his restaurant feeling satisfied.
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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
FEBRUARY 5, 2018
Payments facilitator Stripe has plans to open an engineering center in Dublin, Ireland, a site it chose due to the city’s growing technology presence, the company announced today. Aside from an increased amount of technology companies, startups, and workers, the company’s headquarters for Europe is also located in Dublin. Stripe, valued at about $9 billion […].
PYMNTS
FEBRUARY 5, 2018
As department stores reconsider their real estate and business models, Macy’s is testing out pop-up stores in 10 cities — from Las Vegas to New York — in a new concept named “The Market @ Macy’s,” CNBC reported. Through the program, brands can pay a one-time fee for a space on Macy’s first floor to advertise or sell their products while retaining all of their sales.
Bobsguide
FEBRUARY 5, 2018
With the proliferation of the internet and smart devices, businesses have access to more data than ever before. Finding ways to extract value from this data has been a goal for some time, and led to a great deal of hype around big data (so-called digital “black gold”).
PYMNTS
FEBRUARY 5, 2018
And the hits keep coming … to bitcoin’s price. The cryptocurrency’s value was down more than 7 percent on Monday (Feb. 5) to roughly $7,600, a level that would represent a new low not seen in more than two months. That slide occurred as global concerns come to bear on the digital currency, tied primarily to bans on buying bitcoin levied by banks. As reported by Reuters , the price, quoted from Bitstamp, now represents a fall that has taken bitcoin well off its peak of nearly $20,000 seen late la
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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.
Bobsguide
FEBRUARY 5, 2018
This Wednesday at 3pm GMT (10am EST) bobsguide will be hosting a free online live panel discussion titled: The asset management landscape post-MiFID II implementation: So what happens now? For the entirety of 2017 the asset management industry was counting down to January 3 2018, the.
PYMNTS
FEBRUARY 5, 2018
Could Walmart potentially buy Blue Apron? One analyst thinks so, which sent shares for the meal kit delivery service up nearly 7 percent on Friday. According to CNBC , analyst Matthew Trusz of Gabelli & Company recommended the stock as a buy to investors, saying Blue Apron is “turning the corner on well-publicized operational issues.” Last month, Crunchbase ranked Blue Apron as the worst-performing tech initial public offering (IPO) in 2017 after it launched at $10 before ending
Payments Source
FEBRUARY 5, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Lloyds bars credit cards for bitcoin; Santander builds new DLT payments hub; UPS applies for bitcoin locker patent; Mnuchin calls for international cryptocurrency regs; EU blockchain group forms.
PYMNTS
FEBRUARY 5, 2018
Consumers want to provide healthy dinners for their families, but it can be difficult to find the time to plan home-cooked meals. Monica Wood , for example, had to travel for work and tried having her nanny make meal kits for her kids so they wouldn’t eat fast food. Yet her kids didn’t like the meal kits; they ended up eating pizza and burgers anyway.
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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
FEBRUARY 5, 2018
The blockchains that likely prove the most durable and widely used will likely be those that have most effectively developed scalable protocols, writes Xiahong Lin, founder of Bodhi.
PYMNTS
FEBRUARY 5, 2018
The discussion around sharing financial data today is most often in reference to major industry happenings, like PSD2, Open Banking and the sudden influx of APIs in the financial services space. But within the enterprise itself, data sharing is now paramount to achieving a single source of truth: real-time visibility into cash positions, payments, the status of various processes and beyond.
Payments Source
FEBRUARY 5, 2018
Walmart is the first major merchant to add Fiserv’s Accel signature debit service following the debit network’s recent expansion of routing options, in a move to cut costs for card acceptance.
PYMNTS
FEBRUARY 5, 2018
Fuel card company Allstar is targeting small businesses in the U.K. with a new initiative aimed at saving firms money. In a press release sent to PYMNTS on Friday (Feb. 2), Allstar Business Solutions announced a partnership with garage groups in the country that provides a 10 percent discount on service, maintenance and repair costs for SMB customers that pay with the Allstar Plus Visa card.
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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
FEBRUARY 5, 2018
Bitcoin declined for a fifth day, breaking below $7,500 and leading other digital tokens lower, as Lloyds Banking Group Plc joined a growing number of big credit-card issuers halting purchases of cryptocurrencies on their cards.
PYMNTS
FEBRUARY 5, 2018
Last month, Canada’s Competition Bureau released its final study on tech-led innovation in FinTech, offering regulators some thoughts on competition in the payments sphere, along with suggestions on where the competitive landscape could be improved. In order to boost competition within FinTech, said the Bureau, among other recommendations, regulation should be neutral when it comes to technology, and move to embrace Open Banking.
Payments Source
FEBRUARY 5, 2018
Acting Director Mick Mulvaney’s decision to halt the collection of consumer data renders bank exams less effective and ignores existing cybersecurity protections, the Massachusetts senator argues.
PYMNTS
FEBRUARY 5, 2018
Food production and distribution are no picnic. Consumers increasingly demand transparency around what they eat. Where did it come from? Who touched it? How many chemicals were sprayed on it? Those with the means to do so are willing to pay a premium for organically grown food that comes from local, known sources rather than the distant and impersonal “Big Agra.”.
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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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