Chris Skinner
JANUARY 24, 2019
A further aspect of the digital banks I am talking with is that they have reviews all the time. Not formal reviews, but fast meetings with the business people, designers, developers and even audit and compliance all around the table. It is quick, frequent and informal unlike the old industrial … The post Digital banks have fast and regular communication appeared first on Chris Skinner's blog.
Payments Dive
JANUARY 24, 2019
The blockbuster merger of Fiserv and First Data could set of a series of industry consolidation, according to industry analysts.
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Bank Innovation
JANUARY 24, 2019
Wells Fargo & Co. will add additional enterprise-level digital capabilities, APIs, and SDKs to its Home Lending platform. The additional APIs and SDKs should allow more integrations with other technology services and applications. The San Francisco-based bank disclosed the plan in a job posting today. Among the services that will be included in these open-fintech offerings are […].
PYMNTS
JANUARY 24, 2019
Before consumers started to trade brick-and-mortar shopping experiences for eCommerce websites, retailers could bring customers through their doors with window displays. Now, with this shift, retailers are creating engaging experiences that digitally-connected consumers can tap into online with the help of virtual reality (VR) and augmented reality (AR) technologies.
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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 24, 2019
Barclays Plc’s top executive said it’s “more than likely” there will be another financial crisis, but problems inside the banks themselves are unlikely to be the trigger this time. Instead, Jes Staley said he sees potential shocks from a seize-up in credit markets -- a key sector for Barclays -- given where risk in the […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 24, 2019
INV Fintech, the technology accelerator run in partnership with Fiserv, has opened its Demo Day event to financial institution executives attending Bank Innovation Ignite. Previously, only INV Fintech members were permitted to attend Demo Day on March 11 in Seattle. “We continue to expand our scope and this allows us to bring in into Demo […].
PYMNTS
JANUARY 24, 2019
Walmart is testing out a new solution designed to automatically address soft declines on its eCommerce site. Walmart Labs, the technology arm of Walmart, discovered that most declined purchases on the retail giant’s site were soft declines, which are credit card rejections due to generic issuer errors such as server timeout or issuer unavailability.
Bank Innovation
JANUARY 24, 2019
Banks can monetize their realtime payments offerings by charging customers a fee, thus solving a key concern for banks of losing valuable revenue drivers, such as payday loans and overdraft fees, as they switch to faster payments. "A lot of money is sucked out of the economy by our current payments system," one source told Bank Innovation at […].
PYMNTS
JANUARY 24, 2019
When Dutch entrepreneur Teun van den Dries started GeoPhy , an artificial intelligence (AI)-driven service that performs real estate valuations, there was nothing like it on the market. When he went to buy a house, Bloomberg reported, the appraiser he used simply asked him how much he thought it should cost. That led him to realize the potential market for his company, which he started in 2014.
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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 Dive
JANUARY 24, 2019
Two Events. One Goal – Elevate the Customer Experience. We bringing two leading customer experience events to one place! The Interactive Customer Experience Summit is about looking at the interactive tech that is elevating the customer experience. CONNECT: The Mobile CX Summit is about learning how mobile has helped to boost customer experience.
PYMNTS
JANUARY 24, 2019
Zelle, traditional banks’ answer to Venmo and Paypal, continues to grow in usage, not only with customers but with banking institutions as well, according to reports. Zelle’s operator, Early Warning Services, reported a Q4 payment volume of $35 billion, which is up 12 percent from Q3 and 61 percent from a year before. Also, 135 million transactions were processed during that same time.
Bobsguide
JANUARY 24, 2019
As the world becomes increasingly digital, start-ups specializing in blockchain and fintech are transforming businesses across the board. Yet with constantly changing regulation and the need to compete with digital disruption, 2019 will be the year when regtech rises to the top of the agenda.
PYMNTS
JANUARY 24, 2019
Here’s a test: What’s fraud? Also, what’s a simple and legitimate matter of credit risk ? Those aren’t trick questions, but rather a reflection of the realities when it comes to digital criminals and their global networks. (Hint: The criminals know the difference.) Those questions also speak to the seemingly impossible tension in the world of payments and new card accounts: how to onboard and authenticate consumers as quickly and seamlessly as possible, while also protecting them and the institu
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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 24, 2019
A market strategist has warned this year will see a cull of the fintech startup market, as hyper-valuation in the tech sector get reined in while investors respond more cautiously to a turbulent 2019. “The saying goes, a rising tide lifts all boats but, when the tide goes out, you’ll.
PYMNTS
JANUARY 24, 2019
When looking at the latest edition of the PYMNTS and Hyperwallet Gig Economy Index , there are some familiar trends. According to the data, 35.9 percent of workers participate in the gig economy, and about two-thirds source their gigs via digital marketplaces. Gig workers skew younger, though an increasing proportion are between the ages of 35 and 44.
Payments Source
JANUARY 24, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: PayPal CEO's not a fan of bitcoin for payments; New tech for cryptocurrency ID; Apple Pay's new ad campaign; New Hampshire may allow crypto for tax payments.
PYMNTS
JANUARY 24, 2019
It’s expected that more than 56 real-time payment rails will be live by 2020, and the U.S. is hoping to attain real-time payments ubiquity by that point. The demand for faster payments is strong in the U.S., but not all financial players agree on how to achieve it. Since The Clearing House (TCH) launched Real-Time Payments (RTP) in 2017, the system has yet to reach ubiquity in the U.S.
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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.
CFPB Monitor
JANUARY 24, 2019
A group of 13 state attorneys general and the District of Columbia AG have sent a letter to the FDIC commenting on the agency’s request for information on small-dollar lending. The RFI, published in November 2018 , seeks input on “steps the FDIC could take to encourage FDIC-supervised institutions to offer responsible, prudently underwritten small-dollar credit products that are economically viable and address the credit needs of bank customers.”.
PYMNTS
JANUARY 24, 2019
Visa and Yelp are pairing on an advertising initiative for U.S.-based small and mid-sized businesses (SMBs), eyeing increased presence on the latter’s local search service. Under the term of the pact, SMBs that use a Visa card — debit or credit — to purchase Yelp ads, and spend a minimum of $150 on those ads, will receive an additional $50 for Yelp ads each month.
Payments Source
JANUARY 24, 2019
Samsung’s been pushing for government support for its blockchain and cryptocurrency technology for much of the past year, and early Galaxy S10 leaks suggest a built-in crypto wallet will be among the handset's planned features.
PYMNTS
JANUARY 24, 2019
Taking it to the limit, indeed. News came this week that global debt – that which is shouldered by governments and the private sector – is several hundred percentage points of the GDP. News also has come in the past few weeks that, as evidenced by bank earnings, credit card debt has been on the rise, as have write-offs and provisions for loan losses.
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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 24, 2019
Midsize banks have much smaller security budgets, less mature security programs and less robust controls than their bigger counterparts, writes Leigh-Anne Galloway, cybersecurity resilience lead at Positive Technologies.
PYMNTS
JANUARY 24, 2019
More approvals are coming in China for global banks looking for majority ownership in their local securities ventures, according to a top Chinese regulator. Bloomberg reported that China has promised to let foreign banks have more access to its financial sector, which is worth about $40 trillion. Fang Xinghai, the vice chairman of the China Securities Regulatory Commission (CSRC), said that in the next six months, more licenses will be granted.
Payments Source
JANUARY 24, 2019
The bank-led P2P network Zelle saw its strongest quarterly growth during the fourth quarter of 2018, as payment volume rose nearly 60 percent to $119 billion for the year. But a significant amount of this volume comes from just one bank.
PYMNTS
JANUARY 24, 2019
Contactless has yet to catch on in the United States, despite years of promotional efforts and the success of the payment method in the U.K., Australia and Canada. However, there may be an opportunity to get more contactless cards into the hands of consumers — an opportunity that involves community banks and is backed by financial incentives. That was the message of a recent PYMNTS interview between Karen Webster and Tina Giorgio, president and CEO of ICBA Bancard , the payment services subsidia
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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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