Mon.Jul 24, 2017

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Virtual Payments Are Needed to Keep Up with Gig Economy Workers, AmEx Says

Bank Innovation

Plastic cards just aren’t going to cut it anymore for workers in the “gig economy,” and businesses have to be ready. This goes for something as simple as travel and payment needs, according to Gint Baladis, vice president, global product management for American Express. What’s needed are virtual payments — non-card-based digital payments (that may […].

Payments 318
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Forking hell … the bitcoin split

Chris Skinner

There are a few exchanges I use for trading cryptocurrencies such as Kraken and Coinbase, so I was interested to receive this email from Coinbase last Friday: Dear Coinbase Customer, We are contacting you to make you aware of recent developments in a number of proposals for technical changes to Bitcoin. All BTC stored on Coinbase will remain safe during these events described below.

Bitcoin 283
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Most Americans Don’t Know What’s Included in Their Credit History

Bank Innovation

Most Americans do not know that many non-traditional payments are not included in their credit history, according to a survey conducted by the Atlanta– based alternative credit bureau, FactorTrust. Of those surveyed, 71% assumed that all consumer history including short-term loans, online payments, rent-to-own payments were included in their credit history.

Atlanta 279
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Strategies for improving your firm’s cash flow management

Abrigo

The health and performance of your firm is determined by the volume and direction of your cash flow. The state of your cash flow can determine the future growth of the firm and impact the firm’s investment decisions. Selecting established and refined methods for cash flow management can be the difference between future success or failure for a company.

Strategy 150
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Breaking Banks: 200 Episodes of Fintech

Bank Innovation

In this episode, host Brett King celebrates the 200th episode of Breaking Banks by taking a look back over the show’s history. King is joined by some of the show’s regular guests during this episode, including Chris Skinner, Dave Birch, Ron Shevlin, and Sam Maule. The group discusses some of the best moments from previous […].

Fintech 223

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Cashless Society, Crossing Borders

PYMNTS

The cashless payments movement has a calendar attached to it, at least in China. Cashless Week in China is little more than a week away — running Aug. 1 through Aug. 8 — as Ant Financial Services Group announced earlier this year. The cash-free week will see the firm encouraging China to embrace digital payments, an offshoot of the company’s goal to make China as cashless as possible in five years — using Alipay as a springboard, of course.

America 147
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The most significant fintech acquisitions of 2017 so far

Bobsguide

According to KPMG’s Pulse of Fintech report, fintech VC activity in Europe has hit a historically high level for successive quarters. In Q1 2017, global investment in fintech companies hit $3.2bn across 260 deals. Q1 2017’s total capital invested soared to $610m, which was noted as the.

Fintech 147
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Will Smarter Robots Give eCommerce A Boost?

PYMNTS

The next great robotic breakthrough is upon us — according to recent Wall Street Journa l reports, it’s a machine that can pick up a toy and place it in a box correctly. Admittedly it’s a bit more exciting than it sounds, since it may sound like science has designed robots to have the net skill level of a five-year-old human child. But, as it turns out, that simple skill and figuring it out has been a major hurdle to automating warehouse work.

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The Most Influential Women in Indian Banking

Let's Talk Payments

Women have been taking charge in some of the top companies across the globe and the same can be witnessed in India, where women have been representing some of the.

Company 111
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The State of Automation in Financial Services 2024 Report

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

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What’s Fast And Slow And Read All Over?

PYMNTS

Innovative ideas are inspired by smart people who see problems and have the conviction, capital and courage to come up with new ways to solve for them. Take faster payments. One such innovator recognized the vast commerce potential that could be unlocked if new technologies were used to move money and messaging between people in near real-time. The grandness of his vision and success, with a proof of concept, prompted him to reach out to the U.S. government to share his ideas.

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Expanding Financial Opportunities With Data: Interview – Terry McKeown, Practice Manager – Credit Risk, Yodlee

Let's Talk Payments

“The way in which the data is used differently now than how it was previously used is due to the level of granularity in the data that is now available.

Data 96
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NEW REPORT: Getting SMBs Ready, Set, Going On Mobile Order-Ahead

PYMNTS

Modern innovations have made technology from smartphones and mobile ordering apps to even virtual reality, well, a reality. Now that this technology is in the hands of consumers around the world, companies are increasingly counting on it to attract new customers and retain existing ones. . In the July Payments as a Service Tracker™ , PYMNTS explores how the latest payment solutions are helping merchants give their customer speedier and simpler solutions — all in an effort to win the business

Mobile 118
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PINs, passwords and fingerprints aren't as safe as you think

Payments Source

Once considered one of the strongest methods of ID, finger biometrics can now be copied and used to expertly defeat biometric authentication, writes Deepak Dutt, CEO and founder of Zighra.

Online 74
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Winning The Coffee Competition

PYMNTS

Few brands have become as synonymous with what they sell as Starbucks has. When people think coffee – there is almost a reflexive action to think of Starbucks. Sure they have their occasional dalliances with the stunty marketing beverage – baristas nationwide are still reportedly recovering from the national horror that was the Unicorn Frappucino in April.

Charlotte 116
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Why fintech startups think they can beat the banks

BankNXT

Fintech startups are exploiting weaknesses, but large banks are adapting as fast as they can. The fight for the future of banking is on. Story by Chris Skinner. Why fintech startups think they can beat the banks on BankNXT.

Fintech 74
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Amex, IBM Make B2B Finserv A Mixed Bag For Q2

PYMNTS

The year’s second quarter is a mixed bag for the financial firms servicing businesses. Muted corporate spend tempered American Express’ performance in its commercial card segment, and regulatory uncertainty is on the radar for Fifth Third Bancorp. IBM missed the mark, Kyriba boasted its growth, and SAP has its S/4HANA solution to thank for a strong quarter.

Cards 115
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7.24.17: Your morning briefing

Payments Source

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Valerie Soranno Keating joins Apexx's board; ANZ opens cashless branch; Bitcoin upgrades; U.K. unveils new cash.

Bitcoin 63
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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  Botnet Hackers: About To Be Exposed?

PYMNTS

Sunlight is the best disinfectant, as the saying goes — but will light shine on the ways, whys and wherefores in botnet hacking? The Wall Street Journal reports an alleged hacker will soon be in a Brooklyn court, the center of a trial the publication says will offer “a rare look” into hack attacks of scale and note, and explain how computers are co-opted to carry out those attacks.

Fraud 112
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Gemalto shares tumble after warning of $489 million charge

Payments Source

Security software-maker Gemalto NV slumped after it announced a goodwill impairment charge of around 420 million euros ($489 million), leading to a brace of analyst downgrades.

NV 60
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Indonesian FinTech Launches App For Individual SME Investors

PYMNTS

An Indonesia-based alternative lender is turning to the mobile device to attract small business investors. Reports Friday (July 21) said Mitrausahua Indonesia Group, which operates a peer-to-peer lending platform, has launched a mobile app for individual investors of small businesses. The solution means individuals are now open to invest via a crowdfunding model, reports said.

Fintech 109
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What ATMs' mobile makeover means for independent machines

Payments Source

As ATMs on large bank networks increasingly use mobile phones for account access — a trend driven in part by mobile banking — non-bank ATM operators are working to enable the same features to attract mobile-savvy cash users.

ATM 60
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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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Earnings Season Sways Payments Stocks

PYMNTS

Perhaps it is no surprise, but earnings season held sway over Wall Street this past week, and the same was true for payments stocks. As an overall trend, advancing issues predominated over declining ones. Amid names that gained ground, Diebold Nixdorf recovered some of the declines it logged in recent weeks in the wake of an earnings warning earlier this month.

Payments 108
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Nigerian banks enable cross-border payments via mVisa

Payments Source

Visa’s efforts to expand its mobile payments service mVisa in developing nations reached a milestone this month in Nigeria, the first country where banks are enabling cross-border payments with the QR code-based mVisa technology.

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Today in Data: Cashless Week in China

PYMNTS

Online sales have no doubt pushed today’s society into using less cash than previous generations. As we reported last week, 62 percent of American adults believe there’s a good possibility of the country going cashless. With Cashless Week in China approaching, our own Karen Webster sat down with Alipay President Souheil Badran to learn more about how the company is moving the needle on cashless payments and how China is leading the way.

Data 108
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Global relief at source: The tax gold standard?

Bobsguide

Right time, right place? The EU Tax Barriers Business Advisory Group (TBBAG) calculated in 2013 that annually, roughly €5.47bn in recoverable tax is retained by EU tax authorities. That figure has continued to climb as investors increasingly diversify their portfolios across a wider.

Taxes 60
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.