Fri.Sep 22, 2017

article thumbnail

Uruguay’s Central Bank to Lauch Pilot Program for Cryptocurrency

Bank Innovation

Uruguay’s central bank is testing out its own digital currency, joining a growing group of other nations doing the same. The Banco Central del Uruguay (BDC) said that it has engaged a focus group to test the transfer of cryptocurrency funds via a mobile-based app. According to CoinDesk, BCD President Mario Bergara said at the […].

article thumbnail

What is a Decentralised Autonomous Organisation?

Chris Skinner

I was asked to explain what I meant by haven’t central bankers realised that democratised trust is in the technologies and code? when I blogged about the regulator’s views on bitcoin the other day. I wasn’t going to answer, but then have been prompted to do so after attending the … The post What is a Decentralised Autonomous Organisation? appeared first on Chris Skinner's blog.

Bitcoin 263
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Alipay Moves to Sweden, Finland

Bank Innovation

Leading Chinese mobile payment service, Alipay, is expanding its platform to the Nordic region for use of Chinese tourists, the company announced today. Alipay has signed separate “MoU” agreements with services in Finland and Sweden, as well as with the Scandinavian Tourist Board, which will allow merchants in these counts to accept payments from the […].

Regional 210
article thumbnail

How banks are keeping up with Venmo in attracting millennials

Payments Dive

Designers and developers need to consider how Zelle fits within, and complements, the bank in question’s digital experience.

article thumbnail

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

article thumbnail

Starling Bank Looks to Raise Fresh Funding for Global Expansion

Bank Innovation

U.K. challenger bank, Starling Bank, is looking to new funding to expand its mobile-first banking service to additional countries, the company said today. The new round of funding—the aim is to raise about $54 million, or £40 GBP—will be used to bring the product into European markets, according to the announcement. Ireland seems a logical […].

Mobile 207

More Trending

article thumbnail

Evaluating Single vs. Dual Rating Systems

Abrigo

When a lending institution establishes its risk rating system it has to decide whether it will require analysts to risk rate the borrower or the loan -- or both. Said another way, it has to decide between a single or dual rating system. There are benefits to each. On one hand, a single rating system is simple. On the other, the dual rating system allows for more distinction in risk grades, which could be beneficial to the institution.The answer to the question as to which is better for a lending

System 170
article thumbnail

Clarity Money Continues Fast Growth, Adds Siri Integration

Bank Innovation

EXCLUSIVE — PFM app Clarity Money is keeping up the growth it started at the beginning of the year, announcing more than 500,000 users of its app just under seven months after its launch. Clarity’s growth can be attributed to its strong partnerships with other financial institutions, as well as with the Apple ecosystem: for […].

Apple 170
article thumbnail

Mastercard: Micro Businesses Can Move Financial Inclusion’s Largest Roadblocks

PYMNTS

Promoting financial inclusion — a lofty ambition targeting two billion people around the world who currently live without the ability to securely send and receive money — is about more than taking cash away, handing those consumers an electronic payments solution and opening up bank accounts for them. Even with solutions like that in place, reliance on cash persists.

Mobile 160
article thumbnail

What U.S. Tourism Means to Alipay

Bank Innovation

EXCLUSIVE – Ant Financial, the spin-off from Chinese e-commerce mammoth Alibaba Group, is leveraging the U.S. payments markets with a focus on the industries that cater to Chinese tourist, according to a keynote by Souheil Badran, President of Alipay North America, at the Paythink Conference in Phoenix. Ant Financial operates Alipay, a digital payment platform.

Phoenix 150
article thumbnail

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

article thumbnail

AltFin Leads Funding, But Up-And-Coming SMB Tech Is Close Behind

PYMNTS

Once again, the world’s alternative SMB lending industry regained the spotlight, with key deals in Asia and South America placing the industry in the top spot for this week’s B2B FinTech roundup. But a key B2B industry came in a very close second thanks to a European startup, and it’s a segment of the market recently identified by the European Commission as an up-and-coming part of the financial startup community that is sure to make waves.

Capital 152
article thumbnail

How the cloud offers solutions to MiFID II compliance

Bobsguide

MiFID II does not require an Order Management System (OMS) to be present within an organisation and it is possible to meet the regulation without one. However the ability to comply can be made simpler by having an OMS within the workflow. The Order Management System is an application that has.

article thumbnail

Tapping Into Debit For Faster SMB Payments

PYMNTS

While debit cards have been accessible to small- and medium-sized businesses (SMBs) with business checking accounts, they’re not among the most heavily leveraged tools in the entrepreneur’s toolbox. Some businesses may have declined the option to get a debit card with their business account, and those that did get one may have it tucked away somewhere safe without plans to use it much.

Payments 146
article thumbnail

MEDICI Now! The Betalo AB Story

Let's Talk Payments

MEDICI Now! Startup Stories highlights the companies that are shaping the new financial technology industry. For this story, the LTP Team had the pleasure of interviewing Stefan Salomonsson, the CEO.

article thumbnail

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.

article thumbnail

Outfoxing The Cyberfraudsters In Real-Time With Live IDs

PYMNTS

The Equifax breach lingers like the remnants of a bad lunch, making us all feel queasy about which data has been compromised and who just might be developing new ways to trick us out of money or privacy — now and in the future. Among the front row seat observers in the battle for payments security is Stephen Stuut, CEO of online mobile payments and identity verification company Jumio.

article thumbnail

Tencent enters old-school finance with stake in China's CICC

Payments Source

Tencent Holdings Ltd., China’s largest social media firm, is entering the traditional finance industry by investing in CICC International Capital Corp., a move that may help the investment bank’s expansion in wealth management.

article thumbnail

Summit Credit Union Files Suit Against Equifax Over Leak

PYMNTS

The hits just keep coming for Equifax: Summit Credit Union has filed a lawsuit against the credit reporting agency in response to the massive data breach that compromised the personal data of around 143 million people. The suit is the first filed by a financial institution against Equifax following the hack, but probably won’t be the last. Previous reports have said that banks are losing their patience with the way the company has handled the data breach and its aftermath.

Wisconsin 136
article thumbnail

9 big ideas from PayThink 2017

Payments Source

SourceMedia's PayThink conference is an annual gathering of key decision-makers in the financial services and payments industries. This year's event, which took place in Phoenix this September, brought several key ideas to light.

Phoenix 77
article thumbnail

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.

article thumbnail

Today In Data: Mobile Order-Ahead

PYMNTS

As the popularity of mobile devices continues to rise, speedy and convenient on-demand services are becoming mandatory for restaurants and other food service providers to survive — let alone thrive — in an increasingly mobile-centric , consumer-driven marketplace. Mobile order-ahead is improving convenience in the food takeout department, with more restaurants every day offering the option to place an order via website or mobile device and pick up in the shop when it’s ready.

Mobile 129
article thumbnail

YES FINTECH Accelerator Autumn Cohort

Let's Talk Payments

YES BANK, India’s fifth-largest private sector bank, has been a pioneer of several key technology innovations since its inception in 2004. YES BANK continues to be at the forefront of.

Fintech 82
article thumbnail

NEW REPORT: Why Mobile Order-Ahead May Be The New Frontrunner At Saratoga

PYMNTS

With the advent of mobile-order ahead technology and the popularity of mobile devices, speedy and convenient on-demand services are increasingly becoming mandatory for restaurants and other food service providers to survive, let alone thrive, in today’s mobile-centric, consumer-driven marketplace. Whether a family looking for a quick and easy meal or a fan taking in his or her favorite sporting event, consumers have shown an interest in getting foods of all kinds more conveniently and quickly, t

Mobile 129
article thumbnail

Why FIs should urge retailers to offer choice through technology

NCR

In the retail industry, like many other sectors, the maxim ‘innovate or die’ seems to be growing in authority and relevance by the day. Financial institutions (FIs) that count merchants and retail businesses among their clients should be making every effort to encourage them to embrace change and technological evolution, particularly where payments are concerned.

Retail 80
article thumbnail

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.

article thumbnail

Walmart Wants To Make In-Home Deliveries Easier

PYMNTS

Walmart and smart door lock maker August are collaborating on a new service that will make it easier for Walmart shoppers to receive retail purchases and groceries via an in-home delivery — as opposed to leaving packages on the front porch. Consumers with August smart home devices — doorbells, security cameras, etc. — will be able to have in-home deliveries left inside their homes.

Security 124
article thumbnail

Alipay lands partnerships in Nordic tourism

Payments Source

Alipay has entered agreements with Nordic trade and tourism institutions to further enable merchants in that region to accept payments from Chinese customers through Alipay's in-app marketing program.

article thumbnail

Glitch At National Bank of Canada Exposes Personal Information

PYMNTS

The National Bank of Canada, the sixth largest lender in Canada, has become the latest high-profile firm to announce a data breach. According to a report in Reuters , the National Bank of Canada said Thursday (Sept. 21) that a glitch on its website may have exposed the personal information of more than 400 of its customers. Reuters reported people may have been able to see other customers’ data when filling out an electronic form on the bank’s website.

National 123
article thumbnail

Silver lining behind the Equifax hack

Matt Wilcox Pro

PERHAPS YOU HEARD: Equifax was hacked on September 7. There are some who would reassure us by pointing out that 143 million accounts is less than half the number of MySpace accounts and less than one-third the number of Yahoo accounts that were hacked. I have two reactions. My first reaction is that would-be reassurers could [.

US 60
article thumbnail

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.