Bank Innovation
NOVEMBER 29, 2017
EXCLUSIVE – Norwegian bank Nordea will now let customers use Facebook Messenger to pay bills via e-invoice. According to a statement sent to Bank Innovation today from Nets, the payment services powering this Facebook Messenger feature, John Sætre, head of consumer market services at Nordea Norway, stated: This is a new way for customers to […].
Chris Skinner
NOVEMBER 29, 2017
Things we’re reading today include … Bubble trouble? Bitcoin tops $11,000, but fades after sharp rally Bitcoin bubble? Why India’s government is pumping money into banks Barclays hires Alphabet and Timpson bosses for board of UK ring-fenced bank Lloyds takeover of HBOS felt ‘like two ocean liners about to collide’, … The post Things worth reading: 30th November 2017 appeared first on Chris Skinner's blog.
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Bank Innovation
NOVEMBER 29, 2017
EXCLUSIVE- PayPal wants to move beyond payments, according to its CFO John Rainey, who said the company will focus on a combination of partnerships and investments in companies that can propel the payments companies into other areas. Rainey pointed to the PayPal’s recent partnership with investing platform Acorns as an example of this desired move […].
PYMNTS
NOVEMBER 29, 2017
Fraudsters launching forays against financial institutions (FIs) is a tale as old as, well, financial institutions. For the honest banker, there’s a constant need to upgrade defenses and proactively fend off attacks. But not everybody has the resources for a complete cybersecurity makeover — or the $100,000 to sweep a successful hack under the rug. Such resource and budget constraints may be the reason why, even as artificial intelligence (AI) and machine learning are enjoying high adoption rate
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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
NOVEMBER 29, 2017
Japanese cryptocurrency exchange bitFlyer is coming to the U.S. Based in Tokyo bitFlyer announced Tuesday afternoon that it has gained approval to operate in 41 U.S. states. These states include New York, Washington D.C., Texas, New Jersey and Georgia, among others (see the full list here). To put that into context, only three other cryptocurrency […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 29, 2017
Top-tier bank Wells Fargo responded today to a Wall Street Journal report that stated its foreign exchange pricing was unfavorable to its customers, disputing several points within the published story. Published yesterday, the WSJ story reports that bankers at Wells Fargo are overcharging customers for foreign exchange as a way to fatten their bonus checks. […].
PYMNTS
NOVEMBER 29, 2017
India-based Paytm Payments Bank not only wants to become the world’s largest digital bank , but also to evolve into a financial services company providing a slew of services like wealth management and trading. In an interview with Bloomberg published Tuesday (Nov. 28), Paytm founder Vijay Shekhar Sharma said the company is aiming to have 500 million bank accounts.
Bank Innovation
NOVEMBER 29, 2017
South Korean technology company Samsung has filed a patent for a new feature of its mobile payment service, Samsung Pay, that could allow users to share their transaction history with other users. The patent, which was submitted to the Korea Intellectual Property Rights Information Service, or KIPRIS, details the new feature as a method for […].
PYMNTS
NOVEMBER 29, 2017
Ever wonder why it’s called “laundering money?” It’s because this type of fraud literally started with laundromats. In the 1920s, laundromats were a novel business. Regular folks (the ones who didn’t have housekeepers for that sort of thing) were enamored with the coin-operated machines that, for the first time, saved them the trouble of doing the wash themselves.
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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
NOVEMBER 29, 2017
At least one powersports dealer is accepting a new form of payment for motorcycles: bitcoins. Old Road Harley-Davidson, a dealership in Santa Clara, Calif., sold a Harley-Davidson motorcycle to a customer using only bitcoins last month, according to a published report. Bitcoin has been in the news a lot lately, particularly as car dealers continue […].
PYMNTS
NOVEMBER 29, 2017
When it comes to payments and technology innovations, some industries are seeing massive growth, and others are seeing declines. Sectors like corporate travel, cannabis and cannabis-adjacent companies are seeing increased consumer interest, and others — like blockchain — appear to have hit somewhat of a wall. Today in PYMNTS’ data, global corporate travel spend is on the rise, cash is still king in the United Kingdom, the cannabis industry is growing at exponential rates, Amazon is having a very
Bank Innovation
NOVEMBER 29, 2017
EXCLUSIVE- The original cryptocurrency bitcoin finally hit a $10K valuation per coin earlier this morning, and it has since soared past $11K, and Twitter has some feelings. The valuation comes after a steep climb by the cryptocurrency over the past year or so, with gains of about 1,000%, according to CoinDesk. Bitcoin’s price has been […].
PYMNTS
NOVEMBER 29, 2017
Booking a group trip on Airbnb just got easier: Users now have the ability to split payments with their fellow travelers. According to TechCrunch news, this new service was made possible through Airbnb’s acquisition of social payments startup Tilt. Before the launch of payment splitting, one traveler had to front the cost of the trip and hope that their friends/colleagues/family paid them back in a timely fashion.
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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.
Let's Talk Payments
NOVEMBER 29, 2017
Chinese e-commerce colossus Tencent is an elephant in the room that is impossible not to talk about as the company surpasses Facebook in value after a blockbuster year that saw.
PYMNTS
NOVEMBER 29, 2017
SOLE Financial and WiseWage , both providers of payroll cards, are teaming up to link underbanked employees with ways to receive their salaries. In a Tuesday (Nov. 28) announcement , SOLE Financial said it will be linking its payroll cards to WiseWage’s own corporate clients in need of payroll solutions for their underbanked or unbanked employees. According to WiseWage, which is owned by non-profit Reinvestment Partners and — similar to SOLE Financial — focuses on servicing underbanked employees
Let's Talk Payments
NOVEMBER 29, 2017
Annual worldwide AI revenue is projected to grow from $644 million in 2016 to $37 billion by 2025, with top use cases including algorithmic trading strategy performance improvement; static image.
PYMNTS
NOVEMBER 29, 2017
Amazon seems to have a lot to be merry about this holiday season. As of holiday 2017, three-quarters of all Americans are Prime members, and Amazon could account for up to 44 percent of all online commerce in the U.S. (4 percent of total retail). According to some estimates, the eCommerce giant was home to 50 percent of all online sales made on Black Friday this year.
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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.
Bobsguide
NOVEMBER 29, 2017
A new Thomson Reuters report reveals the key issues as organizations prepare to meet the complex demands of Markets in Financial Instruments Directive II (MiFID II). Having successfully adapted to a continuous wave of new regulation since the financial crisis, businesses and financial.
PYMNTS
NOVEMBER 29, 2017
Despite Chris Rock’s old adage that people “don’t sell drugs, drugs sell themselves,” being in the legal — or at least legal-ish — business of cannabis retail is surprisingly difficult and friction-filled work. The problem is not in moving the supply. The cannabis industry brought in a little over $6 billion in revenue in 2016 — a figure that some estimate will grow to as much $50 billion by the year 2026.
Payments Source
NOVEMBER 29, 2017
The information you need to start your day, from PaymentsSource and around the Web. Today: U.K. banks may not be economically ready for PSD2; Arbnb adds trip splitting; U2's campaign with Amazon is less 'forceful' than its Apple past; House of Lords endorses DLT.
PYMNTS
NOVEMBER 29, 2017
Baidu and Xiaomi have announced a strategic partnership to take on two emerging technologies, Internet of Things and artificial intelligence. According to a TechCrunch news report, the partnership is between the third most valuable publicly traded Chinese technology company in Baidu, which is the country’s equivalent of Google, and one of the world’s most valuable private firms, Xiaomi, which has modeled itself after Apple.
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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
NOVEMBER 29, 2017
Neither the acquirer processing the payment, nor relevant regulatory bodies ever know that these payments are actually for illicit goods, making transaction laundering particularly dangerous and far reaching writes Ron Teicher, CEO of EverCompliant.
PYMNTS
NOVEMBER 29, 2017
When it comes to payment usage in the U.K., cash is as close to British royalty as payments get — and not just because Queen Elizabeth appears on the country’s banknotes. Despite new innovations in payment technology, physical currency remains atop the throne in Britain. And, according to research inside the new PYMNTS Global Cash Index United Kingdom Analysis, a Cardtronics collaboration, its grip on the crown is only getting stronger.
Payments Source
NOVEMBER 29, 2017
Uber Technologies Inc. said information from 2.7 million U.K. customers was taken in a 2016 security breach that hit 57 million riders and drivers globally and that the company kept secret from the public and authorities until recently.
PYMNTS
NOVEMBER 29, 2017
It seems iPhone X users spent almost twice as much on Thanksgiving and Black Friday sales than other smartphone shopper, on average. According to a Tuesday (Nov. 28) report published by Retail Dive , a recent study compiled by Software as a Service (SaaS) mobile marketing analytics platform AppsFlyer found that Apple iPhone X shoppers were responsible for approximately $100 million in in-app purchases.
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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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