Bank Innovation
JUNE 7, 2018
Realtime payments (RTP) is great for the consumer, but what about for the banks? Will realtime payments lead banks to lost revenue on transfer fees or fines from bounced checks? That is likely. But real-time payments will also open doors to new revenues possibilities, thanks to data from realtime transactions. “What we’re really talking about is […].
Payments Dive
JUNE 7, 2018
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Bank Innovation
JUNE 7, 2018
PREMIUM — This year Chinese investment in fintech is making a comeback. In the first quarter this year alone, Chinese fintechs collected $1.1 billion in investment, up from around $200 million in 2017, according to data from Fintech Global. Much of this growth was fueled by a $650 million series A funding raised by OneConnect, a […].
PYMNTS
JUNE 7, 2018
Payments are getting ever faster and global in nature. Real-time payments are becoming part of the landscape. PSD2 is reality and open banking is fostering demand for open APIs. To that end, collaborative efforts between banks and FinTechs are on the rise, where joint programs seek to hasten the availability of technology that dovetails with open banking.
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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 Source
JUNE 7, 2018
The Patriot Act, for example, requires all U.S. businesses to comply with regulations issued by the Office of Foreign Assets Control. Those that fail to comply, knowingly or inadvertently, are susceptible to significant fines and even legal action, writes Peter Shore, general manager of Transpay.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
JUNE 7, 2018
There is a growing fraud problem encompassing much more than the direct value of lost merchandise. There is also manual order review, opportunity costs from false positives and the massive overhead of implementing fraud-fighting best practices, writes Ryan Breslow, CEO of Bolt.
PYMNTS
JUNE 7, 2018
Community banking can be one of the most rewarding and most challenging areas of financial services in which to work — that’s the view, anyway, of Rebeca Romero Rainey, president and CEO of Independent Community Bankers of America (ICBA) , who recently joined the nation’s leading advocacy organization that exclusively represents community banks. Rainey is a third-generation community banker who spent her entire career at all levels of the industry — literally: She grew up in her family bank, sta
Bobsguide
JUNE 7, 2018
Global treasury management is in a constant state of evolution. Hurdles like FX volatility, regulatory reforms, fraud and shifting market restrictions are causing unprecedented challenges for CFOs and treasurers – limiting financial visibility and slowing efficiencies with clunky and.
PYMNTS
JUNE 7, 2018
Competition in the cross-border payments market is on the rise as blockchain firm Ripple and payments messaging company SWIFT vie for market leadership. Reports in the Financial Times this week highlighted the increasing competition in the market as Ripple continues to add banks to its XCurrent blockchain messaging system. The company also launched a partnership earlier this year with Spain’s Banco Santander to develop a cross-border payments service based on XCurrent.
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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
JUNE 7, 2018
Following the path paved by the checkout-free Amazon Go concept, the newly merged Albertsons and Rite Aid are developing their own technologies for faster and more efficient checkouts.
PYMNTS
JUNE 7, 2018
Automation may be transforming the procurement department, but when it comes to the buyer-supplier relationship, human interaction is critical. In a survey of B2B buying organizations conducted by SnapApp and Heinz Marketing last year, researchers found that millennial corporate buyers rank their personal relationships with suppliers as the most effective way to evaluate products and services that vendors offer.
Payments Source
JUNE 7, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon picks spots in Chicago for Go; Italy deploys interbank blockchain; Indian bank gets hit with AML fine; Another startup emerges from the U.K.'s fintech standbox.
PYMNTS
JUNE 7, 2018
Spending on credit cards will continue to grow, but any issuer that decides to take a breath, instead of crafting creative rewards and going after young consumers, runs the risk of being left behind. That’s according to Chad Peck, vice president of credit product strategy at Fiserv. He recently sat for a discussion with Karen Webster about trends in credit card spending and rewards, for the latest edition of the PYMNTS’ “Walk to the Elevator” podcast series.
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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.
Payments Source
JUNE 7, 2018
Comdata has been processing corporate payments for almost 50 years, paying truck drivers through a proprietary fuel card network. But its next chapter could be its toughest.
PYMNTS
JUNE 7, 2018
U.K. challenger bank Arro Money , which launched its small business bank account service last December, has debuted its newest product designed for sole traders. In an announcement sent to PYMNTS on Wednesday (June 6), Arro Money said it has rolled out its account designed for entrepreneurs that operate independently. According to Arro, sole traders are an underserved demographic in the financial services market, often forced to rely on personal account services with inadequate cash management,
Bobsguide
JUNE 7, 2018
Finastra unveiled three core components of its FusionFabric.cloud platform at Money20/20 in Amsterdam. “FusionFabric.cloud is our most exciting launch in our history,” says Mitesh Soni, senior director of innovation and fintech at Finastra. Combined, the components accelerate.
PYMNTS
JUNE 7, 2018
Goldman Sachs is using cyber security war games so that its technology staff will better learn how to fight and prevent threats that could harm the bank and its clients. According to the Financial Times , Goldman is the first financial institution to sign up with U.K.-based Immersive Labs , which offers learning tests and war games on cyber threats.
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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
JUNE 7, 2018
While the 'buy button' is designed to benefit merchants, issuers and the card networks alike, merchants may not be willing to risk any tradeoff in their access to customer data.
PYMNTS
JUNE 7, 2018
Corporate Spending Innovations , formerly known as CSI globalVCard, announced on Wednesday (June 6) a partnership with THG Energy Solutions in an effort to digitize corporate payments to their utility providers. THG corporate clients will have access to CIS’s automatic, electronic payment solutions to support payment of utility invoices, the firms said.
Payments Source
JUNE 7, 2018
TSYS has purchased iMobile3, a maker of private-label payment solutions for small businesses, to beef up merchants' capabilities through the point of sale.
PYMNTS
JUNE 7, 2018
Artificial intelligence has received a mixed welcome from corporates exploring how the technology could disrupt their operations. While AI can deliver time and cost savings, automation and actionable insights, executives are also concerned that the tool will displace professionals like accountants and procurement officials. New research suggests, however, that the technology is finding harmony in these two areas of the enterprise.
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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
JUNE 7, 2018
Retailer associations and debit network providers have formed the Secure Payments Partnership, designed to address the ongoing problem of payment fraud.
PYMNTS
JUNE 7, 2018
Adding to its technology efforts, H&M is rolling out a voice-activated mirror in a flagship New York City location. The device offers style recommendations, selfies and a route to eCommerce, Forbes reported. Microsoft, Ombori and Visual Art worked to create the device, which “sleeps” until facial detection technology turns it on. The device then asks the person to take a selfie, which appears on the screen in the style of a magazine cover.
Payments Source
JUNE 7, 2018
The firm graded bank and credit card apps on customer satisfaction, appearance, navigability, and availability and clarity of information.
PYMNTS
JUNE 7, 2018
The landscape in SMB lending is almost totally unrecognizable from what it was even a short five years ago, BlueVine founder and CEO, Eyal Lifshitz, told Karen Webster shortly after his firm’s latest $60 million funding round was announced. Though today most businesses are both comfortable and familiar with borrowing from an online lender, that would have been the territory of early adopters just five years ago.
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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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