Bank Innovation
OCTOBER 25, 2017
EXCLUSIVE – First comes Uber, an on-demand car service, then UberEATS and now a credit card? Yes, that’s right, the car service app has teamed up with U.K. bank Barclays to launch its own credit card. “Obviously this has been a long process, but the idea to have our own credit card was something we […].
PYMNTS
OCTOBER 25, 2017
On Wednesday (Oct. 25), TSYS reported earnings results that showed organic revenue growth across its payments processing and card segments. TSYS earnings came in at $0.88 a share on an adjusted basis, $0.07 better than Wall Street predicted, and revenues on a net basis were up 8 percent to $852.7 million. Of that top line, Issuer Solutions was 46 percent of the tally, Merchant Solutions 33 percent and Netspend the remainder.
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Bank Innovation
OCTOBER 25, 2017
Central banks in the growing fintech hubs of Hong Kong and Singapore have inked a business cooperation agreement that will foster innovation between joint fintech projects, the Hong Kong Monetary Authority said. Both hubs will work towards joint innovation projects, business, and information sharing according to a speech made by Norman Chan, CEO for the […].
PYMNTS
OCTOBER 25, 2017
Account takeovers have become a new favorite for fraudsters over the course of just a quarter. And, in the wake of the Equifax breach that the exposed personal data of approximately 143 million Americans, the scheme will likely become even more popular with bad actors in the coming weeks and months. According to data from the October 2017 Global Fraud Index , a PYMNTS and Signifyd collaboration, account takeover use recently skyrocketed, climbing 45 percent in Q2 2017 alone.
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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
OCTOBER 25, 2017
EXCLUSIVE – Wirecard launched its mobile wallet integration with Apple Pay, Android Pay and Samsung Pay at Money 20/20 in Las Vegas. This comes as the digital payments-focused company prepares to go live with its own platform in the U.S. market next year. “This is an important step for Wirecard North America,” Deirdre Ives, managing […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
OCTOBER 25, 2017
U.K.-based neobank Monzo has added support for Android Pay, allowing customers to make payments through the digital wallet using a Monzo debit card. The integration is available for those Monzo users with current accounts — for Android users, of course — and works for both shopping in apps as well as at the point-of-sale. Those […].
PYMNTS
OCTOBER 25, 2017
Most anyone with a few dollars and some loose change can hit up a vending machine or unattended kiosk to grab chips or a candy bar. But, for consumers with more cash on hand or cards with higher spending limits, more luxurious items, including caviar and cars, can also be purchased through specialized vending machines. And, for the companies behind such goods, those machines provide value beyond sales themselves — they’re often equally about generating awareness and buzz.
Bank Innovation
OCTOBER 25, 2017
EXCLUSIVE – HSBC has a new credit card, the bank announced today. The card is called the HSBC Premier World Elite Mastercard Credit Card, and is designed deliberately to target travelers. The bank describes the card as a luxury credit card. The new credit product is a black metal card, that weights noticeably more than […].
PYMNTS
OCTOBER 25, 2017
Embracing electronic B2B payments is a two-way street: Payers and payees alike have to put in the effort to make the change. But there is a third party involved in this transition that plays a huge role in businesses’ ability to put down the paper: the bank. Financial institutions (FIs) are figuring out that FinTechs can offer the platforms and technologies companies need to make this shift easier.
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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
OCTOBER 25, 2017
EXCLUSIVE— Consumer blockchain startup Nuggets has just begun its ICO pre-sale, inviting users to purchase Nuggets Tokens to raise money for the startup’s development. “The funding will be [used] for platform and product development, specific tie-ins with APIs, integrating with banks,” Alastair Johnson, founder and CEO for Nuggets, told Bank Innovation.
PYMNTS
OCTOBER 25, 2017
Countingup , a FinTech that aims to combine and streamline corporate banking and accounting for small- and medium-sized businesses (SMBs), secured fresh funding this week, according to news from TechCrunch. The company raised $750,000, led by Frontline Ventures, while other investors also participated. Countingup, started by Clear Books Founder Tim Fouracre, plans to use the venture capital funding to launch operations in the U.K. later this year.
Bobsguide
OCTOBER 25, 2017
The most original innovations often stem from necessity or are born for the purposes of overcoming unforeseen difficulties. This is the case for macro prudential stress tests, namely a set of analysis techniques used by financial supervisory authorities since the great global financial crisis in.
PYMNTS
OCTOBER 25, 2017
How is the race to be Amazon’s second home city not a reality show? Jeff Bezos missed a major marketing opportunity there (as if Amazon needs it). In the vein of young romantics crafting elaborate prom-posals for their beaus, 54 North American states, districts and territories are courting the eCommerce giant, and courting it hard. (If Amazon were a teenager, it might say some of the 238 proposed sites are trying too hard.).
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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.
Payments Source
OCTOBER 25, 2017
In the crowded small-business payment technology market, Fattmerchant is taking a different approach to revenue.
PYMNTS
OCTOBER 25, 2017
Operating an online marketplace is simple, in theory: A merchant builds a website, fills it with retail products and shoppers, well, shop. But when it comes to eCommerce, consumers tend to have specific needs and preferences, and merchants have competitors. And when they begin to cater to shoppers all over the world, determining the preferences of a very diverse customer base with often dramatically differing needs can be a daunting task.
Let's Talk Payments
OCTOBER 25, 2017
The India FinTech Awards is a unique initiative by India FinTech Forum to recognize the best emerging FinTech innovations in the thriving Indian ecosystem.
PYMNTS
OCTOBER 25, 2017
The U.K.’s Financial Conduct Authority (FCA) may not be done with its probe into the Royal Bank of Scotland (RBS), following allegations the bank profited from the demise of some of its small business (SMB) clients, according to news from Reuters this week. The FCA released a summary report of its investigation into RBS’ Global Restructuring Group (GRG), the unit into which some small business customers were forced.
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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
OCTOBER 25, 2017
In 1967, the first ATM hit the UK’s high streets. 50 years on, David Beach, reporter at bobsguide, attended RBR's ATM & Cyber Security event in London, slightly sceptical as to where ATMs fitted into an oft-predicted cashless society. With the rise of biometrics and Big Data, surely.
PYMNTS
OCTOBER 25, 2017
Amazon’s piece of the retail pie is expected to end the year even bigger, with market research firm eMarketer boosting its estimates on dollars spent at the eCommerce giant. According to news from Recode , eMarketer thinks Amazon will end the year controlling roughly 44 cents of every dollar spent on eCommerce, an increase from 38 cents a year ago. All told, Amazon will account for 43.5 percent of all eCommerce sales this year.
Insights on Business
OCTOBER 25, 2017
The speed of change occurring today in the American payments ecosystem is unprecedented. Think of all that has happened in the last 18 months: Earlier this year the Federal Reserve released the second part of its long-anticipated report from its Faster Payments Task Force. The report outlines a path to modernizing the U.S. payments network by 2020. The Clearing House’s Real-Time Payment System has just come online after two years of development, opening the floodgates for Real Time ACH.
PYMNTS
OCTOBER 25, 2017
Apple co-founder Steve Wozniak isn’t excited about the soon-to-be-released iPhone X , saying it will be the first iPhone he doesn’t buy on opening day. “I’d rather wait and watch that one. I’m happy with my iPhone 8 – which is the same as the iPhone 7, which is the same as the iPhone 6, to me,” Wozniak said, according to a CNBC news report. “For some reason, the iPhone X is going to be the first iPhone I didn’t – on day one – upgrade to.
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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.
Let's Talk Payments
OCTOBER 25, 2017
Roswell, GA USA – Smart Token Chain, a blockchain technology company and FinTech incubator, has announced the ICO (Initial Coin Offering) of BitMinutes. The ICO purchase period will run from November.
PYMNTS
OCTOBER 25, 2017
Uber is hitting passengers with some new fees, created to entice drivers who don’t want to wait for slow passengers, drive longer distances for out-of-the-way pickups or deal with last-minute trip cancellations. Drivers will now earn standard time and distance rates on the way to a long pickup, in addition to the standard fare. “So if it’s a 40-minute pickup, which hopefully never happens and is extremely rare, it would be some segment of 40 minutes,” Aaron Schildkrout, head of driver prod
Let's Talk Payments
OCTOBER 25, 2017
Apple Pay nas admittedly went through its fair share of bumpy roads and will encounter more as it rolls out around the world. Underestimation of the solution, and mobile contactless.
PYMNTS
OCTOBER 25, 2017
Of all the sensitive personal data consumers and businesses would rather not see compromised, financial data is surely toward the top of the list. But, a new report by cybersecurity company Thales e-Security suggests data breaches at financial institutions (FIs) are on the rise, and that information technology (IT) professionals who work for these firms are growing increasingly concerned about the issue.
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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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