Fri.Oct 20, 2017

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A global currency is coming, whether you like it or not

Chris Skinner

Continuing yesterday’s discussions about a big bank’s conference, I was intrigued at how often the subject of cryptocurrencies and bitcoin came up. But there again, it’s a topical thing at the moment with the price of bitcoins surging past the $4,000 mark and Goldman Sachs going against JP Morgan, and saying that … The post A global currency is coming, whether you like it or not appeared first on Chris Skinner's blog.

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Monetizing Venmo Could Lead to Millennial Trouble for Zelle (and Banks)

Bank Innovation

EXCLUSIVE— Is Zelle in trouble? PayPal’s third quarter earnings, specifically the quarterly results of its popular P2P app Venmo, seem to suggest that the answer is yes. The banks’ Venmo challenger is growing quite well, reporting just over $30 billion in transactions for the first half of 2017, but the app in question had a […].

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Will smart speakers lead to smarter payments?

Payments Dive

With the explosive growth of the Internet of Things, and particularly of smart speakers like the Amazon Echo and Google Home, voice commands are becoming more powerful and pervasive than ever, changing the way we do everything from checking the weather to scheduling a doctor's appointment. But what about voice shopping?

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ICO Funding vs. Blockchain Equity Funding. And the Winner is…

Bank Innovation

There’s no denying the blockchain phenomenon, or that of Initial Coin Offerings (ICOs). But it seems like ICOs are surfacing in the media more and more with every passing the day. It’s not just media buzz: a report by CBInsights shows that since January 2016, over 250 blockchain-focused firms have completed ICOs, with more than […].

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Mastercard Begins Offering B2B Blockchain Tech

PYMNTS

On Friday (Oct. 20), Mastercard announced news that it will be opening up access to its blockchain technology through its developer’s API. Initially, the technology will be made available for B2B transactions, specifically to address the demands of cross-border payments. Mastercard is not the only firm delving into blockchain. The company joins Google, Overstock, Citi and Goldman Sachs in embracing the distributed ledger technology.

More Trending

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Alipay, Marqeta Partner To Bring Chinese Payments Stateside

PYMNTS

Marqeta , an open API card issuer, and Alipay , a third-party payment platform popular in China, have announced news of a partnership that will make using Alipay easier in the U.S. Marqeta’s API platform will reportedly ease completion of Alipay’s payments in real time. Alipay has more than 520 million registered users in China, according to the firm.

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Alipay and Chase Partner Up to Serve Chinese Tourists Abroad

Bank Innovation

Alipay announced today that its users will now be able to use their Alipay Mobile Wallets for to make purchases from JPMorgan Chase merchant clients. The app, supported by Chinese fintech giant Ant Financial (in case you haven’t heard of them yet), boasts more than 500 million registered users, is compatible with more than 250 […].

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PayPal, Facebook Offer P2P Payments Through Messenger

PYMNTS

On Friday (Oct. 20), PayPal and Facebook announced news that they are expanding their partnership. Facebook users will now be able to send and receive peer-to-peer money transfers through PayPal from within the social media website’s Messenger app. Facebook has been busy expanding the range of services offered within its mobile application, recently moving to monetize its instant article and Messenger games features for publishers and developers.

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First Data Admits to BluePay Purchase

Bank Innovation

First Data today said it would buy payment processor BluePay Holdings for $760 million. The announcement comes a day after First Data accidently posted the press release on its website, only to take down immediately. In today’s official announcement, the global payment technology solutions provider said it would purchase Blue Pay in an all-stock transaction […].

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The State of Automation in Financial Services 2024 Report

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

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Contractors Struggle With Taking Accounting Into Their Own Hands

PYMNTS

Contractors are struggling to take accounting into their own hands, according to a new report from SJD Accountancy. According to news from SmallBusiness.co.uk on Thursday (Oct. 19), an SJD Accountancy survey of 359 self-employed small business (SMB) contractors in the U.K. found that 72 percent perform their own accounting, with 69 percent of them noting that this causes them stress.

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The Clearing House Will Offer Mastercard Tokens for Transactions

Bank Innovation

Moving forward with real-time payments, The Clearing House has struck a deal with Mastercard to use the company’s tokenization technology. The deal, announced today, will allow The Clearing House to offer “tokens”— understood as a string of purely digital numbers that replace a physical payment card — on behalf of banks. The solution builds on […].

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Half Of Chicagoans To Shop Online This Holiday

PYMNTS

More than 50 percent of Chicagoans will do the majority of their holiday shopping online this year, according to a survey from Accenture. The proportion of shoppers who said they plan to shop primarily at brick-and-mortar retailers stands at 35 percent. Holiday purchases are no longer restricted to the weekend after Thanksgiving, reported The Chicago Tribune.

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Qudian Wins the U.S. Stock Market

Bank Innovation

Valued at $11.7 billion, Chinese peer-to-peer lender Qudian is now the largest Chinese company listed in the United States. It is also the fourth biggest IPO in the United States this year. The company, as reported previously, uses a combination of social and financial data gathered via Alibaba’s Ant Financial, which is also a minority […].

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Investigation Leads Wells Fargo To Fire Four Foreign Exchange Bankers

PYMNTS

More bad news for Wells Fargo : The financial institution has fired four foreign exchange (Forex) bankers following an investigation into that business by both the bank and regulators. According to The Wall Street Journal , the reason for their terminations has not been released. Sources said the four bankers let go were Simon Fowles, recently global head of Foreign Exchange Trading; Bob Gotelli, recently head of Foreign Exchange Global Sales; Jed Guenther, recently a regional head of foreign ex

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Rediscovering Discover – The Network of Networks

Let's Talk Payments

International tourists spent close to $1.4 trillion during their cross-border adventures in 2015. Since international tourism is one of the largest sources of income for a significant number of destinations.

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With 218M Active Users And 17M Merchants, PayPal Predicts A Strong Finish For 2017

PYMNTS

“PayPal delivered one of its strongest quarters since becoming an independent company,” said Dan Schulman, CEO of PayPal, in a statement. “Putting our customers first in everything we do, enhancing our suite of products and services, and partnering with some of the world’s most popular brands are delivering tangible results.”. PayPal, largely pushed by strong mobile performance, managed to again exceed analyst expectations across the board, and raised Q4 guidance.

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Alipay Storms North America [Curated Content]

Let's Talk Payments

Brace, PayPal, Google, Apple, Samsung, and anyone railroading customers with proprietary mobile wallets and other payments products. Alipay comes to North America. Slowly, but confidently, Alipay builds its partnerships to.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Better Mortgage To Offer Samsung Rewards

PYMNTS

Better Mortgage, a digital mortgage company aiming to improve access to home financing, announced Thursday (Oct. 19) that it is among the first third parties to use Samsung Rewards’ new API. In a press release, Better Mortgage, which has zero commissions, said Samsung Rewards works similar to a points-based airline’s rewards program, giving users points for so-called meaningful engagements with Samsung devices.

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10 transformative M&A deals in payments

Payments Source

In recent years, there's been a lot of activity in payments M&A, but a few deals stand out — some for their size, and others for their ability to transform both parties in a fundamental way.

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TRENDING NOW: The Latest On Buy Button Penetration

PYMNTS

The Curious Case Of Buy Buttons. Twenty-two years into their existence, buy buttons have swept their way into all corners of the internet. But now, with a glut of them available to merchants and consumers, are they consummating or just complicating purchases? To find out, PYMNTS set out to track the growing presence of buy buttons and how they are driving sales for 1,045 merchants in the latest Buy Button Report.

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Sibos 2017 Day Four: Microsoft CEO says innovate to stay relevant

Bobsguide

Emerging technologies and artificial intelligence were discussed frequently on day four of Sibos. During a panel talk on the growing significance of disruptive innovation and AI, moderator Dean Garfield, President and CEO of the Information Technology Council, led the debate on how and why banks.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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Foxconn And Apple Execs To Discuss iPhone X 3D Sensor Issues

PYMNTS

As Apple’s iPhone X continues to battle production issues, Terry Gou, the chairman of Foxconn Technology Group , and Apple Chief Operating Officer Jeff Williams plan to meet later this month in Taiwan. According to news from The Nikkei Asian Review , the meeting will take place when Williams visits Taiwan later this month for the 30th anniversary of Taiwan Semiconductor Manufacturing Co., the sole core processor supplier for the iPhone line this year.

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10.20.17 Your morning briefing

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: Australia cuts taxes for bitcoin; PayKey raises funds; U.K. tech firms lobby for London; U.S. inspector general says virtual currency may impact on traditional currency.

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iPhone Delays Raise Red Flags On Wall Street

PYMNTS

Rogers Communications Chief Executive Joe Natale said Thursday (Oct. 19) that demand for the iPhone 8 has been “anemic,” piling on to reports that Apple is seeing lackluster sales for its latest devices. According to news from Reuters , Natale, which runs Canada’s largest mobile network, said there is high anticipation for the iPhone X but that production and thus inventory will be limited.

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Breaches have broken the authentication model

Payments Source

The answer is to change the authentication framework altogether with new technologies that employ passive biometrics and behavioral analytics, writes Ryan Wilk, vice president of customer success at NuData Security.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.