Chris Skinner
JULY 15, 2019
I thought I would share my speech at last week’s UN meeting and the short version is summarised nicely by the UN’s press page: Chris Skinner, an author and commentator from the United Kingdom, discussed the promise of “fintech” — which integrates finance and technology — to extend financial services … The post Digital finance includes everyone (speech transcript) appeared first on Chris Skinner's blog.
Bank Innovation
JULY 15, 2019
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. Corliss’ first foray into the startup arena took shape […].
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Chris Skinner
JULY 15, 2019
Things we’re reading today include … Christine Lagarde will have to confront Berlin if she’s to save the euro | Yanis Varoufakis Facebook’s Libra could be misused, says treasury chief Mnuchin New £50 note design sees Alan Turing become first LGBT person on a UK banknote Digital upstarts need to … The post Things worth reading: 16th July 2019 appeared first on Chris Skinner's blog.
South State Correspondent
JULY 15, 2019
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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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
JULY 15, 2019
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). Meanwhile, online banking grew more modestly, with a 6% increase for North America customers (18.8 […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JULY 15, 2019
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. Prime Day, Amazon’s annual discount event for Prime members, currently is underway through July 16. With an engaged audience eagerly seeking […].
PYMNTS
JULY 15, 2019
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. Canadian exchange QuadrigaCX ’s former CEO, Gerald Cotten, allegedly embezzled approximately $195 million of clients’ money, for example, and his recent death left the company without the passwords required to access most of its customers’ holdings.
Bank Innovation
JULY 15, 2019
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. peer-to-peer payment apps, Luke Massie, VibePay’s founder, said the company has […].
PYMNTS
JULY 15, 2019
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. The companies want to let users protect their own data with the service, which will also allow people to save information from institutions as well as oth
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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
Bank Innovation
JULY 15, 2019
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. peer-to-peer payment apps, Luke Massie, VibePay's founder, said the company has […].
Accenture
JULY 15, 2019
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. Our recent banking survey showed that 74 percent of bank operations executives named customer experience as one of the top three priorities. ¹ In sync with this new top priority and the reality that technology drives highly efficient,
Bank Innovation
JULY 15, 2019
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). Meanwhile, online banking grew more modestly, with a 6% increase for North America customers (18.8 […].
Abrigo
JULY 15, 2019
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. expect a recession by the end of 2019 – and 82% believe a recession will have begun by the end of 2020, according to the Duke University/CFO Global Business Outlook survey. Would your institution be ready for this?
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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.
Bank Innovation
JULY 15, 2019
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. Prime Day, Amazon’s annual discount event for Prime members, currently is underway through July 16. With an engaged audience eagerly seeking […].
South State Correspondent
JULY 15, 2019
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? Do you have an effort around creating new deposit products? Do you have a marketing plan for deposits?
Bank Innovation
JULY 15, 2019
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). Meanwhile, online banking grew more modestly, with a 6% increase for North America customers (18.8 […].
PYMNTS
JULY 15, 2019
Amazon’s impact from Prime Day this year will again lift the U.S. eCommerce market, according to a report by TechCrunch. . Adobe Digital Insights (ADI) predicts that top retailers who have more than $1 billion in online sales will have a revenue lift of 79 percent, which is higher than the 60 percent from a year prior. . The research also predicts that Prime Day is going to be the third time eCommerce spending goes over $2 billion on a day that’s not a holiday; the other two days were Labor Day
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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.
Ron Shevelin
JULY 15, 2019
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.
PYMNTS
JULY 15, 2019
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. In a new PYMNTS interview, Simon Armstrong, vice president of products for Entersekt , discussed the June release of the long-anticipated EMV Secure Remote Commerce (SRC) Specification vers
Payments Source
JULY 15, 2019
Facebook's announcement makes it more important than ever to clarify what a digital security and cryptocurrency are, and what they are not, according to Juan Hernandez, CEO of Openfinance and Carlos Domingo, CEO and co-founder of Securitize.
PYMNTS
JULY 15, 2019
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.
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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
JULY 15, 2019
Indian consumers and businesses would be best served if New Delhi confined itself to discrete interventions to reduce structural barriers to payments competition, rather than imposing price controls, dispensing subsidies and promoting national favorites, says Eric Grover, a principal at Intrepid Ventures.
PYMNTS
JULY 15, 2019
Of all the banking institutions releasing Q2 earnings this week, watch for JPMorgan, whose strong performance can be credited to a growing millennial customer base and continued digital innovation. Continued development of JPM Coin has garnered interest from customers around the world, especially millennials. The cryptocurrency will reportedly be tested with select customers by the end of the year and demonstrates the firm’s goal to increase digital operations.
Payments Source
JULY 15, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Australian banks suffer payment shutdown; U.K. banks pool resources to combat money laundering; European regulators slow to licnese crypto firms; Mark Cuban takes a swipe at Libra.
PYMNTS
JULY 15, 2019
In a move that is said to help the company grow across the nation, California cannabis firm Caliva has teamed up with Jay-Z. Caliva recently announced that the rap star will serve as the company’s chief brand strategist and has entered into a multiyear partnership with the firm, CNBC reported. Jay-Z said in the release announcing the partnership, according to the outlet, “Anything I do, I want to do correctly and at the highest level.
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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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