Bank Innovation
MARCH 8, 2019
"Flexibility" is a commonly used term when it comes to innovation in banking and finance, but the typical bank boardroom hardly evokes the image of openness to technological change. Mike Sha, co-founder and CEO of B2B software firm SigFig, told Bank Innovation he’s seeing a changing of the guard, or at least a softening of […].
Payments Dive
MARCH 8, 2019
A new Paytronix integration with Zenreach is helping Anthony's Coal Fired Pizza get a better handle on customer data.
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Bank Innovation
MARCH 8, 2019
Online payroll company Gusto is scaling its security team, starting with the appointment of Square's former head of information security, Frederick Lee, as its chief security officer. The move comes as Gusto lays the foundation for a potential initial public offering (IPO). "With hiring Lee, we are taking another step towards a likely IPO three […].
PYMNTS
MARCH 8, 2019
Microsoft disclosed on Friday (Mar. 8) that it will acquire global cross-border money transfer company Transfast, which works with both P2P and B2B payments. Microsoft said in a press release that Transfast will “complement Mastercard’s wide range of payment solutions by increasing worldwide connectivity in the account-to-account space, enhancing compliance capabilities and offering more robust foreign exchange tools.”.
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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
Bank Innovation
MARCH 8, 2019
Wirecard AG expects the final report on an investigation concerning alleged fraud at its Singapore unit to be presented soon, according to a person familiar with the matter. The company’s Chief Executive Officer Markus Braun tweeted this morning that he is convinced that “in the near future” the market can solely focus on the operative […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
MARCH 8, 2019
Cash Flow Solutions President Shawn Princell discusses how the 20-year-old fintech has transitioned from a check business to a white label API.
PYMNTS
MARCH 8, 2019
Bank-FinTech collaborations have emerged as a viable, lucrative growth path for both sides of these partnerships. For traditional financial institutions (FIs), working with a would-be competitor means integrating technologies for customers without having to build solutions from scratch. For FinTechs, the deals mean access to a broader range of customers through well-established industry names.
Bobsguide
MARCH 8, 2019
Microbusinesses and SMEs are looking at fintechs and new market entrants to provide their financial services as their existing banks have “never really treated them as business customers,” says Mastercard group head of acceptance and emerging payments, Scott Abrahams, but ground can be.
PYMNTS
MARCH 8, 2019
It’s one of the main clichés of the early 21 st century, but that doesn’t mean it’s wrong: Data is the new oil. The saying reflects the value of payment, commerce and personal information in the growing digital economy, and the fact that those organizations that know how to collect and harness tend to have an edge over competitors and the best prospects for growth.
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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
Bobsguide
MARCH 8, 2019
The exponential increase in trading data has become a challenge for traditional commodities venues who “have come late into the electronic age”, according to Bob Mudhar, partner at Citihub Consulting, while the best solution to their issues will be found in artificial intelligence (AI).
PYMNTS
MARCH 8, 2019
HSBC has unveiled its application program interfaces (APIs) and developer portal to comply with the EU’s Second Payment Services Directive (PSD2). Reports in the Global Banking & Finance Review said this week that HSBC launched the APIs and developer portal to enable third-party payment companies to deploy their own solutions for business and consumer customers.
Payments Source
MARCH 8, 2019
Barclays plc has spent years experimenting with creative ways to promote mobile payments, and it's not showing signs of stopping.
PYMNTS
MARCH 8, 2019
The guiding principle of any marketplace is supply and demand. The guiding principle of any online marketplace focused on short-term work — known, of course, as the gig economy — is to match supply and demand with speed and efficiency to get workers in place for the jobs that need doing. To that end, U.K. marketplace Labour Xchange , launched in February, is “trying to turn the entire market on its head,” according to Co-founder and CEO Jonathan Key in the latest PYMNTS Matchmakers podcast.
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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
MARCH 8, 2019
Mastercard has dropped out of a recent bidding war with Visa to acquire Earthport, announcing it will instead buy Transfast, a different cross-border payments firm.
PYMNTS
MARCH 8, 2019
Twitter announced an update to its abuse reporting functions that will allow its users to specify personal information issues. “We want to move faster in reviewing reported Tweets that share personal information. Starting today, you’ll be able to tell us more about the Tweet you are reporting,” the company’s Twitter Safety account wrote on Thursday (March 7).
Payments Source
MARCH 8, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: EU provides some Brexit relief for payment companies; Knowledge of crypto lags in the U.K.; Jumio expands in Latin America; Sinemia changes its payment policy.
PYMNTS
MARCH 8, 2019
In the largest initial public offering (IPO) by a tech firm in Canada in nearly nine years, shares of Lightspeed POS Inc. rocketed in the company’s debut of trading. The company raised $179 million and its stock jumped from an IPO price of C$16 by as high as 26 percent, Bloomberg reported. Lightspeed’s shares finished up trading at C$19, up 19 percent.
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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.
ATM Marketplace
MARCH 8, 2019
ATM outsourcing can be a practical way for an FI to offload an entire channel's-worth of time-consuming operational, logistical and regulatory concerns in order to focus on the more complex and relational aspects of customer service and sales. But maintaining a seamless for the user is essential. and not as simple as it might initially seem.
PYMNTS
MARCH 8, 2019
Invoice fraud, where emailed requests trick employees of various firms into sending money to scammers’ bank accounts, has been making the rounds in the United Kingdom. According to research from Santander Business , as much as half of all U.K. firms are vulnerable to that type of fraud. As reported in LondonlovesBusiness , a significant number of companies do not conduct basic due diligence when it comes to making sure the requests are genuine.
CFPB Monitor
MARCH 8, 2019
The FTC has proposed amendments to its 2003 Safeguards Rule and 2000 Privacy Rule, applicable to financial institutions under the Gramm Leach Bliley Act (GLBA). The proposed changes are informed by the FTC’s enforcement experience and are intended to keep pace with technological developments. The Safeguards Rule requires financial institutions to have a comprehensive information security program.
PYMNTS
MARCH 8, 2019
Alternative small business lending firm Funding Circle has announced plans to launch in Canada. The company issued a press release Thursday (March 7) announcing it will add Canada to the list of jurisdictions in which it operates, which currently include the U.S., U.K., Germany and the Netherlands. While its exact Canada launch date is unknown, the company said it will commence operations in the country in the second half of this year through the opening of an office in Toronto.
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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
MARCH 8, 2019
The upstart lenders have been chipping away at credit cards’ consumer-lending dominance by offering fixed-rate loans with predictable repayment plans. Now the card giants are fighting back.
PYMNTS
MARCH 8, 2019
The Dutch data protection agency (DPA) said when a website forces a user to agree to a cookie policy, or a “wall,” in exchange for access, that request is not compliant with the data protection law in Europe. The DPA said it had received numerous complaints, according to a report in TechCrunch , from internet users who couldn’t access websites after they didn’t accept the request to let the website track cookies.
Payments Source
MARCH 8, 2019
The Bank of England is requiring Visa to appoint PwC as an independent third party to review the card brand’s progress in implementing recommendations that followed a 2018 outage in Europe.
PYMNTS
MARCH 8, 2019
Mobile point-of-sale (mPOS) adoption is becoming increasingly high on retailers’ to-do lists. A full 45 percent of retailers listed it as a priority this year, according to a recent survey, and more restaurants are aiming to get in on the action as they work to maximize productivity, minimize wait times and enhance consumers’ in-store experiences. In the March mPOS Tracker , PYMNTS explores the new mPOS uptake, as well as how mPOS providers are launching solutions into new markets, boosting thei
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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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