Bank Innovation
APRIL 26, 2019
Capital One Financial plans to complete the exit from its data centers and to go fully into the public cloud by the end of 2020, Chairman and CEO Richard Fairbank said during the bank’s first-quarter earnings call on Thursday. The McLean, Va.-based bank is expecting its full-year operating efficiency ratio to improve to 42% in […].
PYMNTS
APRIL 26, 2019
The story of artificial intelligence to this point – at least when it comes to financial institutions – is arguably more about failure than success, even as the promise of the technology continues to grow. But success cannot come without stumbles, and as Akli Adjaoute, CEO of Brighterion (a Mastercard company) discusses with Karen Webster, the lessons learned by AI failure – and how those shortcomings and mistakes could lead to future gains in customer service, fraud prevention and revenue g
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Bank Innovation
APRIL 26, 2019
Demand for bankers and financial services workers appears to be waning following a wave of cutbacks at the start of the year. But a few cities are bucking the trend with double-digit growth in finance employment opportunities. In Richmond, Virginia, finance job openings grew 31.3% in April from the same period last year, according to […].
PYMNTS
APRIL 26, 2019
A P2P (peer-to-peer) technology ingrained in millions of IoT ( Internet of Things ) devices, including security cameras, smart doorbells, baby monitors and video recorders, has many security flaws that allow them to be compromised easily, exposing users to dangers from eavesdropping, credential theft and takeovers from remote locations. KrebsOnSecurity reported the dangers are involved with iLnkP2P, a Chinese software from Shenzhen Yunni Technology. iLnkP2P, which is designed to allow device own
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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
Payments Dive
APRIL 26, 2019
David Jones talks to SunTrust CTO Ken Meyer about the role of traditional banks in the global economy.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
APRIL 26, 2019
Apple Card has advantages over most banks at the start, but there are things banks can do to fight back, according to Mehmet Sezgin, CEO and founder of myGini.
PYMNTS
APRIL 26, 2019
Citigroup ’s Global Head of Payments and Receivables Manish Kohli is relying on technology to increase its payment business. “Our strategy has to be very simple,” Kohli told his team recently , as he laid out his mission to ensure that the payments industry keeps up with the pace of technology development. “Our strategy has to be to help our clients succeed in the digital age and help them disrupt, rather than be disrupted.”.
Payments Source
APRIL 26, 2019
Uber’s getting a half billion dollar investment from PayPal at a time when the ride-sharing app is prepping a $100 billion IPO and can least afford speed bumps in its user experience and payment process.
PYMNTS
APRIL 26, 2019
It was a slow week for B2B FinTech funding rounds, but investors nevertheless provided an impressive sum to industry startups. In total, more than $107 million was raised, with investors targeting the small business (SMB) back office, lending and B2B payments. Interestingly, U.S. B2B FinTech firms were noticeably absent from this week’s roundup, with funding targets instead based in India, Brazil, Spain and the U.K.
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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
Payments Source
APRIL 26, 2019
The restaurant food delivery market is booming, as it caters to America’s growing desire to get on-demand meals for a dine-at-home lifestyle. This trend is influencing how restaurant orders are placed and paid for.
PYMNTS
APRIL 26, 2019
The end of a busy week provides a chance to catch up on the biggest news from the world of digital payments and commerce – news, trackers and even fun stories you may have missed. Welcome to the PYMNTS Weekender. We hope you enjoy. Top Stories. Visa’s Next ‘Digital-First’ Act. Visa’s newest APIs will help those within the Visa ecosystem to create digital cards on demand and add digital services.
Bobsguide
APRIL 26, 2019
Established core banking technology providers are acquiring competitors to tap into their technological resources, according to Matthijs Aler, chief executive officer of systems vendor Ohpen. “We have seen quite a lot of core banking mergers and acquisitions in the past few years. Incumbent.
PYMNTS
APRIL 26, 2019
CBD isolate extractor Mile High Labs is targeting friction in the CBD supply chain through the launch of supply chain management solutions offered by Chain.io, the company said in an announcement on Thursday (April 25). Mile High Labs is using Chain.io’s platform, a blockchain solution called Vault, to provide proof of authorization and auditing documents.
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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.
CFPB Monitor
APRIL 26, 2019
As previously reported , on April 18, 2019 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2019-06 setting forth new documentation requirements for down payment assistance provided by government entities to be used in connection with Federal Housing Administration (FHA) loans. The requirements were effective for case numbers assigned on or after April 18, 2019.
PYMNTS
APRIL 26, 2019
In the age of commerce that is always on, across borders and across currencies, in an age where the side hustle has now become the gig economy , payments are getting flexible and faster. The two-week paycheck may become, eventually, an anachronism. Any number of platforms and rails are striving toward getting fund flows to be real-time or instant – and, of course, safer and more transparent.
Payments Source
APRIL 26, 2019
Because the cost of cross-border payments can substantially bite into profit margins for travel agencies, payments technology provider Ixaris and financial service infrastructure developers Banking Circle are partnering to eliminate that expense with virtual bank account numbers.
PYMNTS
APRIL 26, 2019
The rise of Uber, Lyft and other ridesharing services on the corporate expense report represented a significant shift in the ground transportation sector and how business travelers embrace such on-demand services. Now, data from T&E solution provider Certify has identified another shift in this market. Employees are beginning to expense electric scooters to their employers, according to recently-published Certify data.
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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
APRIL 26, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: PayPal invests in Uber; Tencent invests in payments technology in Argentina; Wirex issues stablecoins; Walmart unveils new retail innovation; The PSD2 vendor market gets larger.
PYMNTS
APRIL 26, 2019
The earliest investors in ride-hailing company Uber are looking to sell about $1.3 billion in shares during the company’s initial public offering (IPO) next month, according to a report by Bloomberg. Alphabet and Saudi Arabia aren’t planning on selling any stock, but venture capital firm Benchmark – the company’s biggest seller – is offering 5.7 million shares, according to a regulatory filing released on Friday (April 26).
Payments Source
APRIL 26, 2019
Vocalink, a Mastercard unit, is partnering with Saudi Payments, a subsidiary of the Saudi Arabian Monetary Authority (SAMA) to launch real-time payments in the kingdom.
PYMNTS
APRIL 26, 2019
In the world of supply chain compliance, complex regulatory requirements like Know Your Customer (KYC) and anti-money laundering (AML) probably come to mind. There are also the challenges of supplier management, tax legislation, cross-border compliance, worker protection and more. However, in the Amazon age, where it’s now easier than ever to get a product out onto the eCommerce stage, supply chain compliance can take on a whole new meaning.
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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
APRIL 26, 2019
Thirty-day delinquency rates, a harbinger of future write-offs, also increased at all seven of the largest U.S. card issuers in the first quarter.
PYMNTS
APRIL 26, 2019
Capital One Financial posted results that were higher than Street estimates as its core card business grew, as did commercial lending activity. The headline numbers showed that adjusted earnings per share of $2.90 were better than consensus by 17 cents. Adjusted revenues were $7.08 billion, outpacing the $7.01 billion that had been expected by the Street.
The Paypers
APRIL 26, 2019
(The Paypers) Online fraud prevention and email risk assessment company Emailage has announced three new points of presence in Singapore, Australia, and Germany.
PYMNTS
APRIL 26, 2019
Business email compromise (BEC) scams are gaining traction, and bilking unwitting individuals and companies out of an increasing amount of money. Recently announced statistics from the Federal Bureau of Investigation (FBI) bear out this trend. As reported in Threatpost , losses from such schemes nearly doubled from $675 million in 2017 to as much as $1.2 billion in 2018.
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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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