Bank Innovation
FEBRUARY 26, 2019
Consulting giant Accenture and cloud banking firm nCino are expanding the scope of their partnership beyond North America to get more financial institutions in the Asia-Pacific and EMEA markets up and running in the cloud. Pullen Daniel, international managing director at nCino, told Bank Innovation the companies are finding increased interest in cloud banking around the […].
Chris Skinner
FEBRUARY 26, 2019
As mentioned yesterday, Marko Wenthin is contributing this week on how to become a FinTech unicorn. In Part One, he talked about fund raising. In part two, he focuses upon the challenges that then follow. How to be a Unicorn (Part Two) If you manage to get some investors interested … The post How to be a Unicorn (Part Two) appeared first on Chris Skinner's blog.
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PYMNTS
FEBRUARY 26, 2019
AlipayHK users will soon be able to use the service in parts of Japan and Southern China, the company said on Tuesday (Feb. 26). The service will be available next month in the Chinese cities of Shenzhen and Guangzhou, where AlipayHK customers can use their app in any places that accept Alipay, including theme parks, hotels and retail stores. In the Japanese city of Fukuoka, AlipayHK users can shop at the popular department-store chain Daimaru Tenjin.
Bank Innovation
FEBRUARY 26, 2019
Digital-only banks have lower operational costs than traditional banks, which have both digital and physical branches. These traditional banks often charge customer fees as a way to make up for these expenses. Recently, banks have upped their fees on branch-based checkings and savings. In fact, a new MoneyRates report shows that only 30.4% checking accounts […].
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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
PYMNTS
FEBRUARY 26, 2019
Subscription commerce has come a long way since book-of-the-month clubs and those record and cassette retailers that tempted teenagers with seeming impossible introductory deals. Yet subscription eCommerce is still a youthful industry, one that, in the words of Emma Clark, chief of staff at Recurly , “is maturing,” with the lessons learned along the way set to influence the next generation of those increasingly popular retail offerings.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
FEBRUARY 26, 2019
Things we’re reading today include … Exclusive: HSBC probe helped lead to U.S. charges against Huawei CFO Payday lenders preying on borrowers escape crackdown as rules rolled back No bonus for Metro Bank boss after loans blunder SEC seeks contempt charge against Tesla’s Musk, says tweet violates deal How has … The post Things worth reading: 27th February 2019 appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 26, 2019
Open banking may foster talk in Europe and the U.S. centered on collaboration between FinTechs and traditional banks. The movement to bolster such joint efforts and give a leg up to nimble tech upstarts is also gaining traction in other corners of the globe. News came Monday (Feb. 25) that in South Korea, the financial regulator there (known as the Financial Services Commission) is encouraging the creation of an interbank payment network that will allow access to banks and FinTechs.
Gonzobanker
FEBRUARY 26, 2019
“There are startups that want to destroy banks and startups that want banks to buy their software. Luckily for the banks, there are many more of the latter than the former.” – Bank Innovation. If you want to know what’s really going on in an industry, follow the money. Money talks. Recent fintech deals across digital, lending, payments and infrastructure are telling a big story.
PYMNTS
FEBRUARY 26, 2019
Six out of every 10 digital orders are now carried out via mobile app, putting the smartphone at the center of the modern quick-service restaurant (QSR) experience. More consumers are also using mobile apps for the rewards points and perks, as well as for the fast payment experience. However, as mobile grows more essential to the dining experience, consumers are becoming less tolerant to friction in the ordering process.
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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
FEBRUARY 26, 2019
The U.K.’s major banks are urging regulators to allow for greater flexibility in processing high-risk transactions, in a bid to tackle ever-rising levels of financial crime.
PYMNTS
FEBRUARY 26, 2019
Citigroup , the U.S. banking giant, announced on Tuesday (Feb. 26) the launch of a new service that lets users pay their rent and school expenses each month with one of its credit cards. CNBC reported that the digital payment service, dubbed PayAll, can be accessed through the Citi mobile app. Each transaction will have an associated fee that is payable to the bank, with the average transaction at about $3,500.
Payments Source
FEBRUARY 26, 2019
It creates an auditable, distributed ledger of transactions that cannot be altered or removed, enabling transactions that are valid, authentic, trustworthy and immutable, according to David Uhryniak and Brian T. Zigmunt, accountants at Crowe LLP.
PYMNTS
FEBRUARY 26, 2019
There is quote attributed to Archimedes that goes something like this: “Give me a fulcrum, and I shall move the world.”. In the banking world, amid the continued shift to digital services, the mobile device might just be the fulcrum. In other words, the central point that will help financial services become truly omnichannel. As has been spotlighted in these pages, engagement is of paramount importance in financial services, no matter the setting — at branches, online or even through the Interne
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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.
Bobsguide
FEBRUARY 26, 2019
During the past year, a number of acquisitions of software providers within the fintech space by large banks and holding companies have the potential to shape the industry and the way software is deployed & used by money management firms. Whether they be RIAs, fund managers, wealth management.
PYMNTS
FEBRUARY 26, 2019
As meal kit providers are promising easy-to-cook recipes, some startups are designing their services around specific appliances. Presto Eats , for example, is creating selections with multicookers in mind. “I fell in love with the new wave of kitchen appliances,” Connie Chong, the company’s founder and CEO, told PYMNTS in an interview about the decision to start her company.
CFPB Monitor
FEBRUARY 26, 2019
The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. The FTC has authority to enforce the ECOA and Reg. B as to nonbank providers within its jurisdiction. However, like several of the FTC’s prior letters on its ECOA activities, the letter on 2018 activities does not describe any 2018 FTC ECOA enforcement activity and only contains information about the FTC’s research and policy development
PYMNTS
FEBRUARY 26, 2019
HSBC, the U.K. bank, has started beta testing of its PayMe System, a digital payment system for businesses. According to a report in Fintech Futures , HSBC started the beta test with 15 retailers in Hong Kong. They can now accept payments from customers that use HSBC’s eWallet. In the early part of 2017, HSBC announced the new payment app, geared toward millennials in Hong Kong who also wanted social media built in.
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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
FEBRUARY 26, 2019
German payments company heidelpay has made a series of recent deals to diversify its merchant appeal, including this week's agreement to buy digital point of sale terminal seller Alpha-Cash Payment GmbH.
PYMNTS
FEBRUARY 26, 2019
Jamie Dimon, the CEO of JPMorgan Chase, said the bank’s new cryptocurrency, JPM Coin, could one day be used by consumers, according to CNBC. “JPMorgan Coin could be internal, could be commercial, it could one day be consumer,” Dimon said during a question-and-answer session at the bank’s annual investor day. The bank became the first to create its own cryptocurrency earlier this month.
Payments Source
FEBRUARY 26, 2019
The CEO of the nation's biggest bank gave the fintech props for revolutionizing payments and then building off its success to provide a whole range of services to small-business clients.
PYMNTS
FEBRUARY 26, 2019
A man in India tricked 12 people out of $250,000 with a scam involving a fake cryptocurrency named after the Indian version of the show “Who Wants To Be A Millionaire,” according to reports. Pritam Patil allegedly asked the victims to invest in the initial coin offering (ICO) of his “KBC Coin,” named after Kaun Banega Crorepati, a wildly popular Indian show.
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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.
Bobsguide
FEBRUARY 26, 2019
The importance of performance attribution in fixed income investing cannot be overstated. Portfolio managers use it in both support and defense of their investment strategies. It is integral for sales and marketing teams when it comes to asset gathering and client retention. Clients also rely.
PYMNTS
FEBRUARY 26, 2019
Cedars-Sinai, a hospital in Los Angeles, California, has begun a pilot program that placed an Amazon Echo in 100 patient rooms for hands-free nurse interaction and entertainment control, the hospital said in a statement. The platform, called Aiva, is the first patient-centered voice assistant of its kind, according to Cedars-Sinai. To use the speaker, patients can just tell the device what they want.
Bobsguide
FEBRUARY 26, 2019
Approved publication arrangements (APAs) are interpreting rules set out in the second Markets in Financial Instruments Directive (Mifid II) differently, impacting the quality and clarity of post-trade data, according to consultants and market participants. “There are supposed to be some.
PYMNTS
FEBRUARY 26, 2019
Among the biggest games in eCommerce is, well, games, and that includes subscription streaming services along with the payments that go along with them. And Google wants a bigger piece — making a move that seems similar to a recent announcement from Apple. The search and online advertising provider reportedly is about to launch streaming games and gaming hardware, according to 9to5Google.com.
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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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