Payments Dive

JANUARY 22, 2019

Eight major trends will help define the landscape of mobile payments in 2019, according to Mark Flamme of AlixPartners.

Trends 419

Trends Mobile Payments 419

Chris Skinner

JANUARY 22, 2019

In another guest post related to industry versus digital banking Marko Wenthin, co-founder of solarisBank, sent this insight into my discussion of FinTech banks last week. Organisational behaviour – synchronised swimming versus football teams I read the post of my friend Chris today about how a FinTech bank embraces IT rather … The post Synchronised swimming or football teams?

Digital Banking 292

Digital Banking Fintech Industry 292

Bank Innovation

JANUARY 22, 2019

Bank of America’s virtual assistant Erica might be able to alert users of double charges in the future, Bank Innovation has learned. In the meantime, Erica still has a long way to go before it could perform such complex tasks. For instance, ask Erica, “What’s my spending this month?” and you’ll get an answer, but […].

Innovation 186

Innovation Operations America Mobile 186

PYMNTS

JANUARY 22, 2019

Mastercard was slapped with a $648.3 million fine by the European Union, which alleged that the payments company raised the costs of card payments artificially. According to a report in Reuters , citing the European Commission, the bloc’s antitrust regulator, the move is part of an effort on the part of European regulators to stamp out fees that U.S. credit card companies charge.

Cards 205

Cards Retail Regulation Payments 205

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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

Lending

Chris Skinner

JANUARY 22, 2019

Things we’re reading today include … The biggest US banks made more than $120 billion last year Companies press Brexit panic button in further blow to Theresa May Brussels fines Mastercard €570m for restricting competition Champs-Elysées bank heist took three and a half hours after robbers place ‘closed’ sign on … The post Things worth reading: 23rd January 2019 appeared first on Chris Skinner's blog.

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US Company 179

PYMNTS

JANUARY 22, 2019

Last year brought the General Data Protection Regulation (GDPR) deadline, Europe’s attempt to boost online privacy and security for consumers — a law that just resulted in a $57 million fine against Google , which was accused of not doing enough to gain the consent of users when collecting data meant for targeted advertising. This year brings the Second Payment Services Directive ( PSD2 ) deadline, also in Europe, with its designs meant to encourage more security and innovation in the payments

Payments 195

Payments Regulation Security Data 195

Bank Innovation

JANUARY 22, 2019

Are traditional banking services just table stakes in the digital age? Digital banking startups like Cogni, a New York-based firm that wants to be a one-stop shop for "lifestyle banking," are counting on curation of such features as personal financial management tools doing the heavy lifting. The company takes such services as fast account opening, […].

New York 170

New York Mobile Tools Digital Banking 170

PYMNTS

JANUARY 22, 2019

At the World Economic Forum in Davos, Switzerland, executives of PayPal and Mastercard touted partnerships between financial technology companies and banks as a positive way to gain customers’ trust and innovate new ways for customers to interact with their finances. On Tuesday (Jan. 22), the executives talked about how financial companies had nothing to fear from these types of partnerships, and PayPal Chief Operating Officer Bill Ready said the idea that banking institutions have something to

Fintech 194

Fintech Apple User Experience Examples 194

Bank Innovation

JANUARY 22, 2019

IBM, one of the world’s largest technology companies, has agreed to sponsor Bank Innovation Ignite, which explores new ideas and technologies needed to push banking forward. Bank Innovation Ignite, March 11-12 in Seattle, offers high-level discussions and networking around the future of what’s next in banking. IBM has increased its fintech practice in recent years.

Innovation 170

Innovation Seattle Fintech Technology 170

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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

Report

PYMNTS

JANUARY 22, 2019

Last year was the year of artificial intelligence (AI), declared Brighterion CEO Dr. Akli Adjaoute for PYMNTS’ 2018 year-end eBook. The technology is proliferating financial markets, particularly for some of the world’s largest financial institutions in need of enhanced compliance solutions. Corporate treasurers are exploring AI for their own cash management and forecasting needs, while AI is also being explored among both traditional and alternative finance players for risk mitigat

eBook 192

eBook Survey Technology Tools 192

Bank Innovation

JANUARY 22, 2019

Mighty AI spent much of its first five years building software that helps self-driving cars recognize real-world objects. The Seattle startup went so far as to open a Detroit office to cozy up to the auto industry. Then last February, Mighty AI’s sales team received an unusual request: Instead of identifying pedestrians and cars, could they track […].

Detroit 150

Detroit Seattle Software Industry 150

PYMNTS

JANUARY 22, 2019

Accounting, consultancy and technology firm Crowe is rolling out a new solution designed for hospitals to automate daily bank reconciliation processes and manage cash flow, the company said in a recent announcement. Hospitals can often struggle to manually reconcile cash flow coming from multiple sources. Crowe is addressing this friction with the rollout of its Crowe Automated Reconciliation for Healthcare tool, providing hospitals a three-way match solution between their general ledgers, patie

Management 184

Management Tools Taxes System 184

Payments Dive

JANUARY 22, 2019

The RTS Strong Customer Authentication Guidelines will come into force in Europe in 2019. FSS Secure3D can help you get ready.

Guidelines 171

Guidelines Security 171

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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.

Lending

PYMNTS

JANUARY 22, 2019

The Rockefeller Foundation and the Mastercard Center for Inclusive Growth, the two philanthropic arms of the organizations, announced a partnership on Tuesday (Jan. 22) called Data Science for Social Impact, according to a press release. The aim of the new organization is to “accelerate the use of data science by empowering nonprofit, civic and government organizations with the tools, expertise and other capabilities they need to help solve the world’s most pressing challenges.”.

Data 183

Data Community Tools Resources 183

Bobsguide

JANUARY 22, 2019

Over the past year of its implementation Open Banking remains a key concern of banks given the regulatory environment, the changing consumer patterns and the new fintech firms. It is becoming a need for banks to embrace digital transformation in this area to achieve more profitable operations.

Fintech 111

Fintech Operations 111

PYMNTS

JANUARY 22, 2019

The shopping cart has been a part of the grocery store checkout experience for nearly 152 years. It’s first use is attributed to a Midwest grocer, Humpty Dumpty. Its owner wanted a solution that allowed shoppers to move more groceries around the store easily, so he invented it. Mass production and design tweaks followed. Today, shopping carts are as much a fixture in grocery stores as the frozen food aisle.

Retail 168

Retail Training Technology Innovation 168

Bobsguide

JANUARY 22, 2019

Having worked on many large-scale projects, nothing beats the feeling of completing something you have laboured over for months and years. The uphill struggle of battling complex requirements and trying to meet milestones, deadlines and budget gives way to a sense of achievement. For most.

Meeting 110

Meeting 110

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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.

US

PYMNTS

JANUARY 22, 2019

Financial Innovation Now (FIN) submitted a public letter in December, contending that the Fed was best-positioned to operate a ubiquitous, interoperable real-time payments network. Innovation, flexibility and agility helped drive WEX ’s acquisition of Discovery Benefits, Inc. (DBI). Mobile is expected to comprise more than half of eCommerce in the coming years.

Data 167

Data Payments Innovation Study 167

Payments Source

JANUARY 22, 2019

The question for lawmakers is how to work together to make sure as many people as possible are able to take advantage of the opportunities provided by innovation, writes Brian Tate, president and CEO of the Innovative Payments Association.

Payments 94

Payments Innovation How To Mobile 94

PYMNTS

JANUARY 22, 2019

Adidas is partnering with artificial intelligence (AI) platform provider Findmine to offer complete product recommendations on the retailer’s site. Chain Store Age reported that through the use of AI, the German sportswear company can automatically generate complete recommended outfits as a customer browses the website looking for individual products.

Resources 165

Resources US Retail Online 165

Payments Source

JANUARY 22, 2019

Payment service provider heidelpay Group has purchased the installment lender Universum Group to bring a new payment capability to the heidelpay Group in the form of an installment lending product called FlexiPay.

Groups 92

Groups Fintech Lending Payments 92

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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.

Compliance

PYMNTS

JANUARY 22, 2019

Munchery , the on-demand delivery startup that raised $125 million in venture funding, has shut down the service effective immediately. Reports citing an email Munchery sent to customers Monday (January 21) said the shutdown isn’t too surprising given in May it was forced to lay off 257 employees, which amounted to 30 percent of its workforce. That came after it shut down service in Seattle, Los Angels, and New York.

Operations 154

Operations Los Angeles San Francisco Seattle 154

Payments Source

JANUARY 22, 2019

Those of us who have found ourselves in roles as stewards of the public trust in this sector are finding agreement in a variety of protocols that bridge even the stodgiest savings account with the coolest app-based e-wallet, writes Bryan Woods, president of Spend Inc.

Security 90

Security Payments US Cards 90

PYMNTS

JANUARY 22, 2019

As perks for consumers go, cash-back offerings remain the leader of the pack when consumers are choosing credit cards. In the U.S., 13 percent of adults have an airline or hotel credit card, and 12 percent have a general travel rewards credit card, according to surveys by CreditCards.com and YouGov Plc. Cash-back cards, on the other hand, are held by 43 percent of American adults.

Cards 152

Cards cryptocurrency Branding Capital 152

Payments Source

JANUARY 22, 2019

American Express’ ambitious multi-merchant rewards program, Plenti, failed last year, but it wasn’t a total loss. FIS took several lessons from Plenti that it’s applying to its own evolving payment card rewards program.

Cards 77

Cards Payments 77

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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.

Lending