Chris Skinner
JULY 9, 2019
I often talk about the world changing thanks to young people who can code. My examples include John and Patrick Collison, Stripe, who were 19 and 21 when they started their business; Andrew Kortina and Iqram Magdon-Ismail, who were in their mid-20’s when they created Venmo; Nicolay Storonsky, who was … The post The 10-year-old who runs a blockchain company appeared first on Chris Skinner's blog.
Payments Dive
JULY 9, 2019
Innovations in the payments space are driving significant changes in the global travel industry. Airlines, travel agencies, payments processors and card issuers all need to recognize the role that speed, reliability and efficiency must be top of mind to maintain strong relationships with your customers.
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Chris Skinner
JULY 9, 2019
Things we’re reading today include … What’s the point of a bank if it won’t accept cash? Piper Jaffray buys rival investment bank Sandler O’Neill for $485m Critics round on Deutsche Bank for golden parachutes Deutsche Bank bosses fitted for £1,200 suits as thousands lose their jobs Christine Lagarde’s arrival … The post Things worth reading: 10th July 2019 appeared first on Chris Skinner's blog.
South State Correspondent
JULY 9, 2019
INTEREST RATE TRAINING Bankers should consider the shape of the yield curve when structuring and pricing loans to maximize return and reduce risk. The shape of the yield curve can also help lenders understand borrowers’ needs and better position the bank against competitors.
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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
JULY 9, 2019
Savings app Digit is pinning its hopes on millennial and Gen Z customers who are storing up funds for a rainy day. “We serve a pretty diverse population relative to most finance and fintech companies, and the majority of our customers are actually women,” said Vishwas Prabhakara, Digit’s chief operating officer. “In terms of income, […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JULY 9, 2019
Capital One is determined to turn its digital assistant Eno into an affable, personal finance watchdog to build loyalty between the brand and its customers. Two years after Eno's launch, the bank is adding capabilities that go beyond simple balance inquiries to proactive insights on customers' spending behavior. Eno, which is named after "One" spelled […].
PYMNTS
JULY 9, 2019
The questions that seem simplest tend to be the most complicated. The answers to such questions also usually end up having more significance than the answers to other inquiries. Excuse the detour into pop philosophy or Jedi teachings, but that is the case when it comes to the question “Who are you?” Those three words strike at the heart of identity, and mean so very much when it comes to the efficient operation of the global digital economy and its continuing growth, whether via retail, payments
Bank Innovation
JULY 9, 2019
GoCardless, a U.K.-based startup that works with 40,000 businesses worldwide and processes $10 billion of payments each year, is adding DocuSign to its list of U.S. partners as it expands its North American business. The payments company announced its partnership with the cloud-based digital agreement platform on Tuesday. For its clients, GoCardless touts cheaper prices […].
Accenture
JULY 9, 2019
Data has become the latest talk of the town with its potential to influence the decision-making framework in any firm. No matter which industry you are in, the new winners are the ones who can innovate and create value using a data-driven approach. Tech firms such as Google, Apple, Facebook and Amazon (GAFA) were early adopters, propelling their valuations to be 10x in comparison to banks.
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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
PYMNTS
JULY 9, 2019
Automated retail might conjure up images of robot cashiers, but beyond a few convenience stores in Japan and Korea, that sci-fi development hasn’t yet become reality for the wider world. Robotics might take over delivery jobs before they make cashiers redundant in the U.S., though. Last month, Domino’s Pizza announced it would be testing autonomous pizza delivery in Houston with robotics company Nuro.
Accenture
JULY 9, 2019
Guest bloggers Anupam Majumdar and Arnab Sinha from our European payments strategy team provide perspective on dissecting the changing revenue fundamentals of European payments. Some European payments pundits believe that payment transaction fees are racing towards zero, compelling payment services providers to make money from data to survive in the long run.
PYMNTS
JULY 9, 2019
In the age of quick-service restaurant (QSR) dining technology innovation, restaurants are frantically looking into ways to provide consumers with mobile ordering bells and whistles like third-party payment integrations, rewards programs and surprise-and-delight offers. Some establishments are rolling out proprietary apps, while others are teaming up with third-party platforms to gain revenue.
Abrigo
JULY 9, 2019
A subcommittee of the AICPA task force focused on the current expected credit loss standard (CECL) has provided its first look at how auditors will approach the changes with clients, noting that CECL represents a “fresh start” from the incurred loss model. “CECL model estimates will be evaluated against ASC 326, not anchored to incurred loss model estimates,” according to published takeaways from an AICPA CECL Task Force Auditing Subgroup meeting.
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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.
PYMNTS
JULY 9, 2019
Most individuals would feel compelled to have a good excuse if they were late in paying back someone who lent them money. This isn’t the case in the world of trade credit, however, in which millions of U.S. firms sell their products and services to each other with the expectation that they will wait weeks — or even months — to be paid. Under this informal system, late payments are common, but the reason cited by a significant portion of firms for paying late is notable: They expect their supplie
Bank Innovation
JULY 9, 2019
GoCardless, a U.K.-based startup that works with 40,000 businesses worldwide and processes $10 billion of payments each year, is adding DocuSign to it.
PYMNTS
JULY 9, 2019
A People’s Bank of China (PBoC) official said that the upcoming launch of Facebook’ s Libra could speed up his bank’s development of its own digital currency. In fact, if Libra becomes widely used for international payments, Wang Xin, head of the research bureau at the PBoC, questioned “would it … accordingly have a large influence on monetary policy, financial stability and the international monetary system?
Bank Innovation
JULY 9, 2019
Capital One is determined to turn its digital assistant Eno into an affable, personal finance watchdog to build loyalty between the brand and its cust.
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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.
PYMNTS
JULY 9, 2019
Consumers around the world are showing increased interest in contactless payments, with 75 percent of United Arab Emirates (UAE) consumers expressing trust for contactless cards and 82 percent trusting mobile wallets. The U.S. could be joining that trend, as consumers become more familiar with the tech, such as from using it in public transit settings.
Bank Innovation
JULY 9, 2019
Savings app Digit is pinning its hopes on millennial and Gen Z customers who are storing up funds for a rainy day. “We serve a pretty diverse po.
PYMNTS
JULY 9, 2019
GoCardless has announced that DocuSign will deploy its SaaS-based payments platform for its European customer base. The U.K.-based, direct debit company revealed that DocuSign customers will now be able to access the GoCardless platform through Zuora , enabling customers throughout the U.K. and Europe to select Bank / Direct Debit as an alternate payment option.
Payments Source
JULY 9, 2019
The Prime Day event is also a chance for Amazon to showcase a new range of devices and payment options — but in 2019, Amazon is making some key changes to how it asks its audience to shop.
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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.
PYMNTS
JULY 9, 2019
U.K. small business lender and commercial card company Capital on Tap is collaborating with accounting software company Receipt Bank to launch the Receipt Bank Card, a commercial card solution for small businesses, according to a press release Monday (July 8). The company announced that their partnership will enable small businesses to obtain greater control over company spend and streamline expense management processes.
Payments Source
JULY 9, 2019
Fuel card operator WEX is expanding its mobile payments app for fleet drivers to U.S. Shell stations, more than doubling the app’s reach following last year's launch at ExxonMobil stations.
PYMNTS
JULY 9, 2019
Bill.com has reported its payment volume increased by 124 percent, with monthly transactions growing by 135 percent, according to a press release. The financial process automation firm has experienced an increase in international payments on its website, and has increased support to more than 70 countries and 50 unique currencies worldwide, including cryptocurrency.
BankBazaar
JULY 9, 2019
Has the advent of the Aadhaar Card brought in a lot of positive changes? Find out the many benefits introduced since its inception. [LATEST NEWS ON AADHAAR]. Parliament passed an amendment bill on Monday, 9th July, 2019, allowing for the voluntary use of Aadhaar as ID proof for anyone wanting to open a bank account or get a mobile phone connection. The Aadhaar and Other Laws (Amendment) Bill, 2019, was introduced in the Lok Sabha on 24th June, passed in the Lok Sabha on 4th July, and finally in
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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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