Chris Skinner
SEPTEMBER 24, 2019
I’m going to write the last of my blogs at this point on being purpose-driven to reference something that irks me a lot. Exclusivity. We have exclusivity a lot in life. The idea is that it creates ambition, hope, focus, hunger, direction and reward. We want the next airmile to … The post Money creates purpose (which is why it’s so important) appeared first on Chris Skinner's blog.
PYMNTS
SEPTEMBER 24, 2019
Financial providers worldwide are working to give small and medium-sized businesses (SMBs) quick access to their funds. Digital banks , for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS). Legacy banks are similarly at work, with one major FI seeking to beat out FinTech competition by offering same-day access to credit card deposits.
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Payments Dive
SEPTEMBER 24, 2019
Uber is a major force in the tech industry. Despite consistently operating in the red, the company commands more than 70% of the U.S. rideshare market and reached an $82 billion valuation at the time of their initial public offering earlier this year.
Bank Innovation
SEPTEMBER 24, 2019
To BBVA USA, the future is about enabling fintech startups rather than competing with them. It’s been almost a year since the U.S. arm of the Spanish multinational bank rolled out its Open Platform, a banking-as-a-service platform through which it offers four main APIs for startup clients. They include identity verification; “move money,” which means […].
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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
Chris Skinner
SEPTEMBER 24, 2019
Things we’re reading today include … Future of Fintech Why robots see no logic in betting against central bankers China’s shadow banking industry roars back The future of the global economy hinges on four games of chicken | Nouriel Roubini Can a computer fool you into thinking it is human? … The post Things worth reading: 25th September 2019 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Accenture
SEPTEMBER 24, 2019
Banks are now showing a deep interest in Open Banking—at least for the corporate world—and while the level of maturity still differs among players, at Accenture we have been able to create a maturity ladder and position players along this ladder. Tier one of the ladder consists of defining a level of ambition: Providing a “banking-as-a-platform” offer, either global or by type of client (from ING’s offer to entrepreneurs, to Credit Agricole’s focus on the agricultural sector), and/or “banking-as
PYMNTS
SEPTEMBER 24, 2019
Trust is the backbone of digital commerce. Knowing who’s on each side of the transaction, and verifying their identities, is the backbone of trust. That sentiment was underscored earlier this month when South Korea said it would delist a number of altcoins from an exchange over privacy concerns – namely, the anonymous nature of the transactions are at odds with the goals of the Financial Action Task Force (FATF), which include combating money laundering and fraud.
Bank Innovation
SEPTEMBER 24, 2019
For Aura, an online lending platform for low-income families, reaching underbanked borrowers means going beyond the bank setting and working with retailers to reach customers who may be overlooked by traditional lenders. The San Francisco-based startup brands itself as an alternative to predatory payday loans, much like fellow startups LendUp and Prosper.
PYMNTS
SEPTEMBER 24, 2019
The director of the Financial Crimes Enforcement Network (FinCEN), Kenneth A. Blanco, gave a speech at the 2019 Federal Identity (FedID) Forum and Exposition on Tuesday (Sept. 24), to talk about digital identity today, how safe it is and what the agency is doing to protect it against financial crimes, according to prepared remarks. . One of the biggest problems, Blanco said, is account takeover. .
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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
SEPTEMBER 24, 2019
Alibaba Group Holding Ltd. has bought a third of Ant Financial, the online financial services behemoth controlled by billionaire Jack Ma, augmenting a global array of investments now worth $83 billion.
PYMNTS
SEPTEMBER 24, 2019
Silicon Valley credit card startup Brex has begun a points transfer partnership for its rewards program with JetBlue Airways , Brex announced in a press release on Tuesday (Sept. 24). The partnership allows customers to use Brex rewards points on JetBlue’s TrueBlue loyalty program. “ JetBlue is an innovative and exciting brand and Brex is thrilled to offer access to their valuable TrueBlue loyalty program within the Brex Rewards platform,” said Brex Co-Founder and Co-CEO Henrique Dubugras.
Payments Source
SEPTEMBER 24, 2019
The information you need to start your day, from PaymentsSource and around the web. Today: Will IBM work with Facebook on cryptocurrency?; Mastercard's new ad campaign; China pushes back on digital currency reports; Glint becomes insolvent.
PYMNTS
SEPTEMBER 24, 2019
Allow us to be blunt: The B2B finance and invoice settlement system is broken. Well, that’s not entirely true – things tend to work pretty well for the largest firms out there, as the largest buyers can basically set their own terms and essentially pay when they want. But for pretty much everyone else, it’s broken. And as Eyal Shinar, CEO at Fundbox , noted to Karen Webster in a new PYMNTS discussion, that’s an approximately $3.1 trillion problem, according to PYMNTS research – and, of course,
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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.
ABA Community Banking
SEPTEMBER 24, 2019
Insights from bankers and industry experts on launching a successful digital-only subsidiary. The post Branching Out with a Branchless Bank appeared first on ABA Banking Journal.
PYMNTS
SEPTEMBER 24, 2019
Apple has sent out a warning about a bug in iOS 13 and iPadOS. “An upcoming software update will fix an issue that impacts third-party keyboard apps,” the company wrote in an advisory. “This issue applies only if you’ve installed third-party keyboards on your iPhone, iPad, or iPod touch. Third-party keyboard extensions in iOS can be designed to run entirely standalone, without access to external services, or they can request ‘full access’ to provide additional features through network access.
BankBazaar
SEPTEMBER 24, 2019
Confused between NPS and PPF? Read on to find out which is the better scheme to suit your needs. Are you new to investing? We understand that investing wisely can be quite a challenge. If you’re a novice at investing, don’t worry! We’re here to tell you the difference between the National Pension Scheme (NPS) and the Public Provident Fund (PPF). Both NPS and PPF are two investment vehicles sponsored by the Government of India, designed to help you build your nest egg.
PYMNTS
SEPTEMBER 24, 2019
Even boats are becoming autonomous these days — another sign of the autonomous revolution that is playing out on college campuses, city streets and in the air above our businesses and homes. That said, the disruption taking place these days — and the disruption that will come in the early part of the 2020s — is much more about getting products to consumers than enabling them to ride in comfort as a robot handles the driving (or sailing).
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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
SEPTEMBER 24, 2019
The major technology companies that have chipped away at incumbent payment businesses face much larger competition from this year’s big processing mergers, but they’ve also bulked up through fundraising and product development.
PYMNTS
SEPTEMBER 24, 2019
Mastercard is joining Pay.UK’s Request to Pay bill pay service to help provide customers with bill payment options, the company said on Tuesday (Sept. 24). The service, called Mastercard’s Request to Pay solution, will launch in the first quarter of next year. It will give billers and customers a clear line of communication in the U.K. market, allowing for the sending and receiving of payment requests and payments themselves.
Payments Source
SEPTEMBER 24, 2019
PayPal must pay a fine to the U.K.’s top financial watchdog for failing to keep its operations completely separate from iZettle while authorities investigated competitive effects of PayPal's purchase of the Sweden-based mobile POS provider.
PYMNTS
SEPTEMBER 24, 2019
Monthly installment payment solution provider Splitit is rolling out a B2B payments service offering, the company said Monday (Sept. 23) in a press release. Dubbed Splitit Business Payments , the B2B payments platform connects B2B suppliers to a way to offer their own corporate buyers a monthly installment repayment plan that uses those customers’ existing commercial credit cards.
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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
SEPTEMBER 24, 2019
The imprints of vendor consolidation, mobile payments proliferation and voice enablement are continuing to ensure there is “a whole lot of shaking going on” in our industry, writes Strategic Resource Management's Michael Carter.
PYMNTS
SEPTEMBER 24, 2019
Infosys subsidiary Infosys Finacle has announced the completion of a five-week trial of its trade finance solution using R3 blockchain technology. In a press release Monday (Sept. 23), Infosys Finacle said its trial with R3 included involvement from 18 banking groups testing Infosys Finacle’s Finacle Trade Connect solutions. The application operates on R3’s Corda platform and is designed to facilitate trade finance transactions; the trial completed simulations of real-world trade finance transac
Payments Source
SEPTEMBER 24, 2019
Emphasizing its expansion into multi-channel payments, Credorax is partnering with mobile point of sale developer BBPOS to provide mobile POS solutions for independent software vendors and sales organizations across Europe.
PYMNTS
SEPTEMBER 24, 2019
The Competition and Markets Authority (CMA) in the U.K. has levied a fine against PayPal for breaking rules regarding marketing in the country when it acquired iZettle for $2.2 billion, according to a report by the Financial Times. The deal, which brought together the U.K.’s two biggest mobile POS device suppliers, was completed in September of last year, but triggered an inquiry by the regulator because of the size of both companies and the implications of the merger.
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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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