Bank Innovation

AUGUST 9, 2018

Customer experience is the focus for two fintech accelerators, one run by Commerzbank the other by FIS. FIS Global, a financial services software provider that works with 20,000 banks and corporate treasury clients, has gone about improving the customer experience by offering natural language processing (NLP) solutions. This allows customers to be understood speaking in a natural way. […].

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Customer Experience Fintech Software Innovation 260

Payments Dive

AUGUST 9, 2018

Blair Newman, chief technology officer at Bell One, explains that while augmented reality apps offer endless possibilities to engage customers not all apps are created equal. He offers up five key aspects to consider before deployment.

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Retail Mobile Technology 247

Chris Skinner

AUGUST 9, 2018

Things we’re reading today include … HSBC’s China Focus Continues To Drive Profits, But Leaves The Bank Vulnerable To Trade War Specter of Criminal Charges Raised at Australian Bank Inquiry We Wanted Safer Banks. We Got More Inequality. Goldman Sachs sued by ex-managing director who said he was whistleblower NAB … The post Things worth reading: 10th August 2018 appeared first on Chris Skinner's blog.

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Management 164

Bank Innovation

AUGUST 9, 2018

Green Dot Bank’s “banking-as-a-service” revenue has just about equaled product revenue, and may soon eclipse it, CEO Steve Streit said on yesterday’s earnings call. This could have profound implications not just for Green Dot but for the future of banking. This is the essence of open banking by another name — banks opening up their rails […].

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Apple Online Cards Fintech 150

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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

Lending

PYMNTS

AUGUST 9, 2018

U.S. Bank is reportedly looking to sell Elan, its card processing business, reported Fintech Futures. According to the report, Finastra, FIS and Fiserv are in the running to acquire the unit from U.S. Bank. Elan processes credit cards for 1,800 banks in the U.S., providing payment services, credit card issuing, prepaid card and ATM services as well as debit card processing.

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US Payments ATM Fraud 113

PYMNTS

AUGUST 9, 2018

Businesses, get ready: The phishers are paying more attention to you. No company has ever been completely safe from criminals, whether it’s the type that steals in person or the hackers who do it digitally. But there is mounting evidence that phishers are turning more attention to enterprises and away from individuals — and at a time when pretty much every industry is moving away from a reliance on analog processes and toward more digitalization.

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Survey social media Online Data 111

FICO

AUGUST 9, 2018

One of the machine learning mistakes was the tragic death of Elaine Herzberg in Tempe, Arizona by UBER’s self-driving car. Initially there was a focus on the fact that machine learning made an error, but in fact, the answer was even more unsatisfying: the algorithm did detect the pedestrian but the car was programed to be less sensitive to potential false positives, causing the image and detection of the pedestrian to be ignored.

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Video Arizona Analytics 96

PYMNTS

AUGUST 9, 2018

IBM and shipping conglomerate A.P. Moller-Maersk has seen 94 businesses join their effort to enhance shipping and logistics operations using blockchain, according to Reuters reports on Thursday (Aug. 9). The companies partnered earlier this year to create a blockchain -based platform through which companies can coordinate global container shipping and other logistics needs, including freight forwarding and trade finance.

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blockchain Operations Management Report 104

CFPB Monitor

AUGUST 9, 2018

On August 1, 2018, Sen. Bill Nelson (D-Florida) introduced S. 3334 captioned “ The Military Lending Improvement Act of 2018” in the United States Senate to “expand and improve” credit protections afforded to service members by the Military Lending Act (MLA) and the Fair Debt Collection Practices Act (FDCPA). If this bill becomes law, it would lower the maximum rate of interest on covered transactions from 36 percent to 24 percent.

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Lending United States Florida Data 84

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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

Report

PYMNTS

AUGUST 9, 2018

Cybercrime is such a lucrative field that, if it were its own nation, it would have the thirteenth-largest GDP on the planet, according to Bromium researchers. Cybercriminals make an estimated $1.5 trillion every year from cybercrime. Most of that can be traced back to trade on illegal online markets and intellectual property theft. Trading of stolen data is worth a cool $160 billion, crimeware-as-a-service makes criminals $1.6 billion a year and ransomware results in $1 billion in criminal earn

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Data National Strategy Regulation 104

Gonzobanker

AUGUST 9, 2018

Gonzo Readers, there are times where there is no need to opine or argue to make a point. All you have to do is present evidence that speaks for itself. Today let me share a real-life customer experience that meets this standard. I had a CD that renewed with a bank that highlights the words “simple” and “easy” on its website (this is a direct bank subsidiary of a traditional bank).

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Customer Experience Training Meeting Marketing 74

PYMNTS

AUGUST 9, 2018

Firms evolve … or don’t, at their peril. The old ways of doing business? They get old; they get fossilized. They go away, along with, sometimes, the firms that are stuck in the past. For financial institutions (FIs) , it may be time to look to the death of the waterfall. The waterfall: You know, the way a project traditionally evolves in discrete chunks, from concept to analysis, to design and deployment — a step-by-step approach in tech that has been the hallmark of bigger firms.

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Software System Fintech Examples 103

Payments Source

AUGUST 9, 2018

Sydney-based fintech Inamo has found demand for wearable payments in Australia and is on track to launch a pilot in the U.S., where uptake of wearable payments has been slow.

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Payments Fintech Mobile Retail 74

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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.

Lending

PYMNTS

AUGUST 9, 2018

Comcast Xfinity, the cable company, exposed partial home addresses and Social Security numbers of millions of customers, reported BuzzFeed News. Citing Ryan Stevenson , a security researcher who found the security vulnerabilities, BuzzFeed reported that the data of more than 26.5 million customers was exposed. According to the report, two other security holes that weren’t reported in its online customer portal enabled even less sophisticated hackers to get access to the personal data.

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Security Data Online Report 102

Payments Source

AUGUST 9, 2018

While using a cryptocurrency as a means of payment instead of an investment may not be unique, most are challenged in environments that require speed, security and the need to work around cash or payment cards. Dash attempts to differentiate from competitive cryptocurrencies, including bitcoin, by addressing those concerns.

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cryptocurrency Payments Bitcoin Security 69

PYMNTS

AUGUST 9, 2018

letgo , the app to buy and sell locally, announced Wednesday (Aug. 8) that Naspers invested $500 million of new capital into the company. According to a press release , $150 million was already invested in letgo earlier in the summer. The company said that Naspers invested in letgo , in part, because of its growth and market opportunity. The new financing will be used to speed up growth and for product evolution, expansion into new verticals and monetization efforts. letgo also said that its app

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Capital Groups Innovation Company 101

Payments Source

AUGUST 9, 2018

Cash discounting, or informing customers that items in the store are priced less expensively if purchased with cash, does not have the legal barriers of straight surcharging, which is simply charging more for products to cover card fees.

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Cards Retail Payments 69

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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.

US

PYMNTS

AUGUST 9, 2018

Consumers want smooth connections, not transactional friction. And they want opportunities to discover and buy products in specific online contexts. Source: Checkout Conversion Index. Online and mobile shoppers may have a seemingly endless shopping mall at their fingertips, but that doesn’t mean it’s always easy to buy. Retailers lose out on an estimated $236 billion worth of sales annually because they create difficult or frustrating shopping and checkout experiences.

Millennials 101

Millennials social media Exercises Retail 101

Payments Source

AUGUST 9, 2018

The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon adds pickup to Whole Foods; Canadians like the no-cashier concept; Ant makes a move into Africa; Fossil adopts wearable payments.

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Payments 67

PYMNTS

AUGUST 9, 2018

The world was a very different place in February 2005 when Amazon first introduced its loyalty program: Prime. There was no such thing as an iPhone; that was two years away. The dominant — and pretty much only — name in the smartphone market was Blackberry, and it was mostly for the uptight professional who could only be truly happy when reading their work emails.

Online 101

Online Sacramento Course New York City 101

Payments Source

AUGUST 9, 2018

Ethereum has also suffered from scalability issues since its inception and is capable of handling just 14 transactions per second, compared to Visa’s 24,000 per second, causing network congestion, writes Fran Strajnar, CEO of Brave New Coin.

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cryptocurrency Payments 65

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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.

Compliance

PYMNTS

AUGUST 9, 2018

IKEA has priced its furniture even lower in India to lure customers to its first store in the country this week. The company is pulling out all the stops to make the store a success, including having a 150-person assembly team at the Hyderabad location , after research showed that many consumers in the local market would not want to assemble furniture on their own.

Course 101

Course Retail Regulation Marketing 101

Payments Source

AUGUST 9, 2018

They are disinclined to talk about it much yet, but the big three trust banks as well as JPMorgan and Goldman are said to be mulling custody services that would help shield wealthy bitcoin investors from theft. Here are the selling points and the risks.

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cryptocurrency Bitcoin 63

PYMNTS

AUGUST 9, 2018

Chief procurement officers (CPO), like many members of the C-Suite, are embracing their evolving roles of greater strategic importance within the enterprise. But a new report from Advanced suggests the CPO may actually be evolving into a new title altogether: the Chief Value Officer. Surveyors for Advanced discussed the findings of their research into more than 175 global business professionals for the Advanced Procurement Trends Report 2018 , exploring how the evolving role of the procurement f

Survey 101

Survey Analytics Innovation Leadership 101

Payments Source

AUGUST 9, 2018

The logistics company said it intends to use the funds to invest in supply chain technology and serve merchants on its platform, which connects scooter-riding drivers in about 400 cities with about 1.2 million online merchants and delivers everything from packages to groceries.

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Online Technology Company Retail 63

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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.

Lending