Chris Skinner
JANUARY 16, 2019
Another key factor of the digital banks I’m talking to is that the customer is their primary focus. Not the shareholder, the investor, the quarterly bonus, the dividend yield or the cost-income ratio. The customer. This is something I’ve found quite rare in most banks, as the retail customer is … The post Digital banks are led by clear customer-obsessed principles appeared first on Chris Skinner's blog.
Bank Innovation
JANUARY 16, 2019
Fintech provider Fiserv said today that it will purchase payment processor First Data Corporation in a massive $22 billion deal, and the transaction will come with a hefty investment in innovation. The combined company will look to “extend differentiation through innovation and integration” using proven integration capabilities and enhanced innovation funding, according to an investor […].
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Chris Skinner
JANUARY 16, 2019
Things we’re reading today include … Excessive bank fees for unarranged overdrafts to be banned Bank of England sees UK current account risk from Brexit What bank results tell us about the health of Uncle Sam Goldman chief says sorry over ex-banker’s role in 1MDB scandal ‘We’re about to be … The post Things worth reading: 17th January 2019 appeared first on Chris Skinner's blog.
PYMNTS
JANUARY 16, 2019
In Asia, blockchain continues to get a boost from government and regulatory efforts, especially in the realm of trade finance done across borders. In one example from the past several days, the China Banking Association (CBA) — the regulatory agency tied to the sector — has launched a new blockchain-underpinned initiative focused on trade finance.
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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
JANUARY 16, 2019
Bank of America set an ambitious goal for digital sales last June: 50% over the next couple of years. The bank remains far behind that target. Last quarter, the bank recorded 27% of its consumer banking sales came from digital, according to its fourth quarter 2018 earnings, which were disclosed today. According to a presentation back in […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 16, 2019
Corporate payments startup AccessPay, based in Manchester, England, landed an investment of $11.5 million (£9 million) led by U.S. venture capital firms Beringea, True Ventures and Route 66 Ventures. The funding round, announced Monday, comes at a time when the corporate payments space has yet to attract as much attention as consumer payments, where names […].
Payments Source
JANUARY 16, 2019
Fiserv will acquire First Data in an all-stock deal with a value of about $22 billion that will combine two of the financial services industry's largest technology and processing companies. Fiserv shareholders will own almost 58 percent of the combined company, with First Data's shareholders holding the rest. The acquisition is expected to close in the second half of 2019.
Bank Innovation
JANUARY 16, 2019
Big investors who’ve soured on cryptocurrencies because of the industry’s billion-dollar theft problem will soon have a new way to trade that’s touted as a safer solution. By the end of the month, BitGo Inc.’s customers will be able to buy or sell Bitcoin, Ether and other digital assets without the coins ever leaving cold […].
PYMNTS
JANUARY 16, 2019
Chairish Inc., the San Francisco-based parent company of high-end vintage furniture site Chairish and interior designer-focused online marketplace DECASO , today (Jan. 16) added a new brand to its family: Dering Hall. Founded seven years ago, the New York-based Dering Hall was founded as a discovery platform to connect interior designers with new and emerging furniture brands.
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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
PYMNTS
JANUARY 16, 2019
Snap, the struggling maker of the disappearing app Snapchat , saw its stock take a big hit after announcing its chief financial officer Tim Stone, who came on board in May, is resigning. According to a report in The Financial Times citing a Securities and Exchange Commission filing, Snap said Stone is leaving the company to “pursue other opportunities.
Bobsguide
JANUARY 16, 2019
Systems consolidation is the name of the game if firms are to meet the reporting requirements of the Securities Financing Transactions Regulation (SFTR), according to Broadridge senior product director, Dean Bruyns. “Obviously it takes work and it takes budget. These are hurdles that.
PYMNTS
JANUARY 16, 2019
Cash flow can make or break daily life for consumers or businesses. Not enough in your account? Plan on asking your landlord for a few more days to pay the rent. Not able to quickly access those funds in that check you just received? Payroll might get tricky, and maybe you won’t be able to buy enough supplies to start that next job, thereby perpetuating a nasty cycle.
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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.
Bobsguide
JANUARY 16, 2019
The fact that the UK’s API standards are in prime position to be embraced across the European Union puts the country’s banks and fintechs – already conforming to those standards – at a distinct advantage over their counterparts in the rest of Europe. “The UK is the.
PYMNTS
JANUARY 16, 2019
Amid a global market with a massive lack of trade finance accessibility, the International Chamber of Commerce (ICC) recently found that banks are growing more bullish on an array products to bolster business — especially small business (SMB) — cross-border trade. In the ICC’s Global Survey 2018 report, researchers found supply chain finance at the top of banks’ priorities, with 42 percent of respondents prioritizing growth in supply chain finance in the year ahead.
Bobsguide
JANUARY 16, 2019
The mentality of racking up overheads in order to acquire customers leads banks to act on their own and not the customer’s best interest later down the line, says Andy Mielczarek, CEO of Chetwood Financial, the new challenger and lender. “When I reflect on the 2008 crisis and the mis.
PYMNTS
JANUARY 16, 2019
Small business (SMB) cloud solutions provider Sage is refocusing away from payroll as it divested its U.S. assets for $100.3 million, Reuters reported on Tuesday (Jan. 15). Sage’s payroll outsourcing unit in the U.S. posted a $1.28 million loss last year, reports noted. Human resources (HR) management company iSolved HCM , based in the U.S., will acquire the assets.
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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.
Javelin Strategy & Research
JANUARY 16, 2019
. The payments industry woke up this morning to the news of two large payment firms merging together to make a behemoth for US payment processing. Fiserv is in the position to stabilize the First Data business while entering into new merchant markets. The merger will be difficult for both clients and employees who will be forced into changes. Other payment firms will have the opportunity to earn additional business and gain seasoned payment professionals while the new Fiserv takes shape. . .
PYMNTS
JANUARY 16, 2019
Saks Fifth Avenue has opened up a new restaurant as part of a $250 million project to boost business in its landmark New York City location. The company imported Parisian eatery L’Avenue to make Saks more than just a place to shop. “I think over time, whether it’s because of the internet or brands opening their own stores or new entrants to the market, making a transaction wasn’t going to be why you came into a department store.
Payments Source
JANUARY 16, 2019
To stay ahead of the rapid development of payment applications, the Payment Card Industry Security Standards Council is making new software security standards and a validation program for vendors available later this year.
PYMNTS
JANUARY 16, 2019
For many in tech Google Glass is a cautionary tale about the dangers of hype. When it arrived in 2013, there were no shortage of people who were certain it was going to be the next big thing — the phrase “the new iPhone” go thrown around a lot and as of January 2014 many people were predicting it would be the hottest gift item of the following Christmas in 11 months.
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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
JANUARY 16, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Fiserv buys First Data; PayPal scores a ticketing contract; Open banking advances in Canada; Russian bank adopts finger payments; Faster payment group adds staff.
PYMNTS
JANUARY 16, 2019
Human wrists deserve a break when it comes to payments, commerce and even authentication, right? To put it another way: Is there a better way to do wearables, to appeal to consumers who, for various reasons, might not like wearing web-connected devices on that part of their bodies? It’s a reasonable concern. As wearables become more popular (and, no doubt, the New Year has brought many more sightings of fitness trackers around the wrists of relatives, pals, co-workers, fellow commuters and those
CFPB Monitor
JANUARY 16, 2019
A coalition of 14 state Attorneys General and the D.C. Attorney General have filed an amicus brief with the U.S. Court of Appeals for the Fourth Circuit in Williams v. Big Picture Loans in which a tribal lender and its tribal service provider have appealed from the district court’s denial of their motion to dismiss the complaint filed by consumers who alleged that the interest rate charged by the lender violated Virginia law.
PYMNTS
JANUARY 16, 2019
Payless has hired an adviser to help it avoid a second bankruptcy less than 18 months after emerging from its first Chapter 11. Citing sources familiar with the matter, Reuters reported that a sale or restructuring are two of the options being considered. The company is also thinking about closing at least one-third of its approximately 3,000 stores.
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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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