Mon.Jul 15, 2019

Digital finance includes everyone (speech transcript)

Chris Skinner

Fintech Unfiltered: Huddl’s Corliss on his move from big finance to startup

Bank Innovation

At first glance, Stephen Corliss, whose resume includes senior roles at Blackrock and UBS, seems an unlikely candidate to lead a startup. But Corliss, 50, wants to use his experience from the world of big finance to help solve problems for customers of more modest means.

Things worth reading: 16th July 2019

Chris Skinner

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PayPal On Its Xoom Into The Continent And The UK

PYMNTS

Call it remittance on a global scale, or P2P without borders. PayPal said on Monday (July 15) that it is launching Xoom, its international digital money transfer service, in the United Kingdom and 31 markets spanning Europe.

Mobile adoption jumps at Citi

Bank Innovation

Citibank is reporting strong mobile user growth. In a second-quarter earnings call today, the bank reported active mobile users grew 12 percent year-over-year for North America customers (11.4 million users) and 39 percent for its international customers (8.9 million users).

Mobile 151

How Bitbuy Is Keeping Crime Out Of Crypto

PYMNTS

More than $1.2 billion is estimated to have been lost to cryptocurrency scams, thefts and fraud in the first quarter of 2019, and cybercriminals and scammers are not the only ones putting digital asset users at risk.

Amazon uses Prime Day to promote Amazon Pay on third-party sites

Bank Innovation

Amazon is using Prime Day to nudge more customers to use its own digital payment method on partner retailers’ websites, and it’s using juicy incentives of up to 30% cash back to do so.

Retail 141

More Trending

VibePay wants to build a safer version of Venmo and Zelle for UK customers

Bank Innovation

Vibepay, a peer-to-peer payments app that recently received regulatory approval to operate in the U.K., wants to build a more secure version of popular P2P apps like Venmo and Zelle through additional checks. The app is slated to launch in September. Unlike popular U.S.

Crypto Markets Plummet As Libra Hearings Loom

PYMNTS

Cryptocurrency markets took a tumble Monday (July 15), with some coins plunging by more than 30 percent following a weekend sell-off. Bitcoin (BTC) slid after reaching new highs, while altcoins suffered a near-30 percent crash, Cryptovest reported.

VibePay wants to build a safer version of Venmo and Zelle for UK customers

Bank Innovation

Vibepay, a peer-to-peer payments app that recently received regulatory approval to operate in the U.K., wants to build a more secure version of popular P2P apps like Venmo and Zelle through additional checks. The app is slated to launch in September. Unlike popular U.S.

Samsung, Tech And Banking Cos Team To Use Blockchain For Mobile Identity

PYMNTS

A group of companies in South Korea are collaborating on a blockchain network to be used for mobile authentication services, according to reports. . Samsung Electronics; banks KEB Hana Bank and Woori Bank ; telecom companies SK Telecom , LG Uplus and KT ; and Koscom , an IT service subsidiary from the Korea Exchange, are all part of the group.

Mobile adoption jumps at Citi

Bank Innovation

Citibank is reporting strong mobile user growth. In a second-quarter earnings call today, the bank reported active mobile users grew 12 percent year-over-year for North America customers (11.4 million users) and 39 percent for its international customers (8.9 million users).

Mobile 141

Facebook Slapped With $5B FTC Fine, But Still Has Lots Of Friends

PYMNTS

The most interesting story about Facebook since the Cambridge Analytica scandal broke is one that hasn’t really been written. And it’s the one about the value platforms can create for their customer groups, at scale.

Study 192

Amazon uses Prime Day to promote Amazon Pay on third-party sites

Bank Innovation

Amazon is using Prime Day to nudge more customers to use its own digital payment method on partner retailers’ websites, and it’s using juicy incentives of up to 30% cash back to do so.

Retail 141

The Majority of CFOs Expect a 2020 Recession – Is Your Financial Institution Ready?

Abrigio

After more than a decade of steady economic expansion, many experts are forecasting an impending economic downturn. Nearly half of CFOs in the U.S.

Mobile adoption jumps at Citi

Bank Innovation

Citibank is reporting strong mobile user growth. In a second-quarter earnings call today, the bank reported active mobile users grew 12 percent year-over-year for North America customers (11.4 million users) and 39 percent for its international customers (8.9 million users).

Mobile 130

For Mastercard/OpenText and the Automotive Industry: Have Trust, Will Trade

PYMNTS

To keep the wheels of commerce — or the commerce of wheels — turning, trust is key, among lengthy supply chains, and vendors large and small. In the automotive industry, hiccups amid the supply chain — for deliveries or for payments, can have outsized ripple effects. Mastercard said late last week that it has partnered with OpenTex t, focused on enterprise operations management in a bid to streamline supply chain and finance activity.

The new bank COO

Accenture

Guest bloggers Ben Lopez and Charlie Arthy examine the evolving role of the COO in post three of their series on achieving simplified, future-ready bank operations. The focus for bank COOs is expanding beyond a pure cost perspective to include customer experience.

The ‘Invisible Change’ Coming To Online Shopping

PYMNTS

For those who are focused on how better payments can lead to better eCommerce, the upcoming months promise to be an exciting and revealing time. That’s because the newest EMVCo payment specification is freshly out in the world, and the feedback and metrics on its success and failures will soon start emerging.

Online 182

Perficient Team Invades Las Vegas for Microsoft Inspire 2019

Perficient Financial Servies

Microsoft’s annual Inspire partner conference takes place this week in sunny (and super-hot) Las Vegas. Inspire offers partners an opportunity to hear about the latest Microsoft innovations, explore new ecosystem alliances and further develop existing partnerships.

Goldman, UK’s Lendable Strike £200M Deal

PYMNTS

Goldman Sachs and personal loan startup Lendable from the U.K. have reached a £200m deal, in a sign of Goldman’s confidence in the startup, according to a report by the Financial Times.

Does Loan Amortization Matter? [Plus Free Calculator]

Banker to Banker

HOW LOAN STRUCTURE IMPACTS CREDIT Sometimes how we choose to measure something can lead to incorrect conclusions. While mathematically 30 is 50% more than 20, a 30-year amortizing loan is not 50% riskier, or 50% longer than a 20-year amortizing loan

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Facebook’s Marcus: Libra Won’t Launch Until Regulators Satisfied

PYMNTS

The top official overseeing Facebook’s Libra cryptocurrency told U.S. lawmakers in a prepared testimony that there will be no launch until regulatory concerns are discussed.

Perficient Doubles Year-Over-Year Heart & Stroke Walk Donations

Perficient Financial Servies

People make the choice to volunteer for a variety of reasons. Some feel it opens the door to give back to their community and make a difference in the world around them. Others enjoy the opportunity it provides to develop new skills or build on existing experience or relationships.

Denver 103

IMF: Banks Must Change In The Face Of Big Tech

PYMNTS

Banking institutions will get “left behind” if they don’t evolve as big tech companies continue disrupting the financial system, the latest research from the International Monetary Fund (IMF) says. “

System 166

A mid-year look at Digital investing

Daily Fintech

I started writing about robo-advice in 2015. I witnessed the impact that the standalone robo-advisors (Betterment, Wealthfront, etc.)

Today In Data: How Governments Are Strengthening Crypto Regulation

PYMNTS

The Financial Action Task Force (FATF) recently released guidelines intended to increase the transparency of digital asset transactions, as regulators push for greater cryptocurrency oversight.

Do you shuffle data or use it?

Perficient Financial Servies

To be successful with your data, you need to know if your company is focused on reporting the data or analyzing the data for intelligent decisions. I’ll lay out two fictional organizational examples. Think about which one your company resembles and which one you would like it to resemble.

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UK Gov’t Wants New Homes To Have Electric Car Chargers

PYMNTS

The U.K. government wants to equip all new homes in the country with electric car charging points. The news comes as the nation has proposed a number of EV-supportive initiatives regarding England’s building regulations. Sales of new petrol and diesel cars are set to end in the U.K.

How To Tackle The Basics On Deposit Marketing [Webinar Recording]

Banker to Banker

DEPOSIT MARKETING If you are getting up there on loans-to-deposits and you are worried about bringing in more deposits the first question to ask yourself is, are you devoting enough resources to gathering deposits? Do you have a Chief Deposit Officer? Do you compensate for deposits?

ABN AMRO, Qutech Link Up To Improve Banking Security

PYMNTS

As computers become more and more powerful and start to utilize quantum technology, today’s security measures, like encryption, will increasingly be at risk, according to reports.

How to Get the Most out of Datorama

Perficient Financial Servies

You’ve made the commitment to show measurable results from your marketing efforts. You know there’s value in making data-driven decisions. And maybe you’ve heard that Datorama can help. So … now what? We all know that technology can only take things so far.

NY Lawmaker Asks For Antitrust Probe Into Grubhub

PYMNTS

A city council member in New York has asked the state’s attorney general to start investigating Grubhub on antitrust allegations, according to a report by the New York Post.

Digital Platforms Are Eating Banking

Ron Shevelin

A platform business model isn't a new concept. But it's taking over the financial services landscape and at the heart of the changes in the competitive dynamics of banking

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U.S. Farming Has A Banking Problem

PYMNTS

The latest jobs figures propel the lengthy period of corporate optimism in the U.S. today, with hiring stronger than expected in June. While concerns over a possible upcoming economic recession are beginning to seep into the corporate world, and while smaller businesses are struggling to find adequate talent to grow, overall, some economists welcomed the most recent payroll figures from the U.S. Bureau of Labor Statistics, ADP, and others. Yet when the U.S.

US 155

How do systemic approaches to IT operations impact the business culture?

Dataconomy

How are dynamic IT operations affecting company culture? What do businesses need to understand about data driven AI to successfully drive their operations into the future?

How Starbucks Elevates Online Ordering In China

PYMNTS

Starbucks has designed a new store around order-ahead and delivery as the upstart coffee company Luckin Coffee takes hold in the Chinese market. Starbucks opened its inaugural Starbucks Now store in Beijing, China to combine digital and physical customer touchpoints. The experience is said to combine the café environment of the coffee chain with the Starbucks Delivers and Mobile Order & Pay services.

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