PYMNTS
APRIL 22, 2019
Visa introduced a platform on Monday morning (April 22), complete with beta application programming interfaces (APIs), that will allow issuers and issuer processors to build and test new products. The company said the platform is available for the company’s clients and partners through Visa Next, a website billed as a “new destination” for glimpsing and using new solutions in the payment giant’s ongoing pipeline.
Bank Innovation
APRIL 22, 2019
Adoption of chatbots is on the rise. So are questions about how they can do more. Bank of America reported 6.3 million users of its virtual assistant, Erica, in the first quarter of 2019, up from 4.8 million the previous quarter. The AI-powered chatbot has completed 39 million interactions since its launch, the bank said. […].
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PYMNTS
APRIL 22, 2019
Bitcoin, through the lightning network, will soon be available as an option to pay on Amazon and other eCommerce sites, according to reports. Cryptocurrency payment processing company Moon said any e-wallet that is lightning-enabled can also be used through the company’s browser extension. Moon previously allowed about 250 beta users to use crypto on eCommerce sites by connecting them through exchange accounts like Coinbase. “(The extension) will pop up a QR code and it will have the light
Bank Innovation
APRIL 22, 2019
Neither video games nor dating nor shopping have a stronger pull, in terms of initial mobile app retention than financial apps, according to one report released by mobile app research firm Liftoff. The Liftoff 2019 Mobile Finance Apps report, released earlier this month, showed that finance-focused mobile apps retain more users than retail, media, dating […].
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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
Accenture
APRIL 22, 2019
Guest blogger César Rainusso breaks down how retail banks can implement a successful, real-time pricing strategy from back office to front line and across customer channels. Squash players know that when up against a strong competitor, a great serve is their greatest strategic advantage. The serve is the player’s moment to evaluate the competitor and engage mind, muscle and materials to set the tone for the rally, making incremental progress toward winning the next point and, ultimately, the mat
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
APRIL 22, 2019
Recess, a CBD-infused sparkling water company, has announced that it will be available on Uber Eats for delivery to customers in New York City, according to a report by Adweek. The announcement was made on Instagram by the drink company with a post that named UberEats as an “app someone made to deliver Recess and McDonald’s.”. The company offers three flavors, and the drinks come in a six-can or a three-can sampler, and the products cost between $16.50 and $30.
Payments Source
APRIL 22, 2019
JCPenney ended support for Apple Pay in its stores and also removed the mobile payment option from its app, a surprising reversal for a brand that offered Apple Pay in 2015, within a year of its rollout. There are multiple factors in play here.
PYMNTS
APRIL 22, 2019
Millennials have long borne the blame for a variety of problems in commerce, including the decline in popularity of diamonds and certain fast casual restaurants. Now that segment of young consumers — who are not so young anymore, and are approaching peak earning years — are finally getting credit for something. Millennials could be helping to bring new life to call center commerce.
Payments Source
APRIL 22, 2019
PSD2 and other moves push a higher level of authentication, and are a welcome development for biometrics, according to Lina Andolf-Orup, a senior director at Fingerprints.
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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
APRIL 22, 2019
A good electrical engineer can be hard to find, which can serve as a massive friction for any firm that needs one. And as Freelancer.com CEO and Chairman Matt Barrie told Karen Webster, it really can be almost any firm that needs that kind of expert help. Electronics makers, healthcare firms, designers, event planners, construction — the list can go on almost infinitely, he noted.
Payments Source
APRIL 22, 2019
As banks continue to invest heavily in developing mobile and web-based services for personal and business accounts, investments, money transfers, micro loans and peer-to-peer payments to make the customer experience as seamless as possible, they cannot afford to let compliance efforts lag, writes Sam Abadir, vice president of industry solutions for Lockpath.
PYMNTS
APRIL 22, 2019
An increasing number of customers want to onboard with retailers and banks through their mobile phones, putting greater pressure on businesses to provide robust, digital know your customer (KYC) checks and other security measures. However, these companies must keep their onboarding processes swift and intuitive, or they’ll turn customers off. In the April Digital Consumer Onboarding Tracker , PYMNTS explores how players from around the world are taking new approaches to onboarding security.
Tom Groenfeldt
APRIL 22, 2019
Two years after its launch by the Bill and Melinda Gates Foundation, the Mojaloop code to make financial apps and companies interoperate better, it is progressing in Africa and Asia.
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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.
PYMNTS
APRIL 22, 2019
Only a few years after a full rollout of Apple Pay, JCPenney has reportedly dropped the Apple Pay digital payment service in its app and brick-and-mortar stores. The retailer’s support account on Twitter noted the change during the weekend, 9 to 5 Mac reported. In the social media reply to a user who asked why the payment method was taken away, the retailer said, “JCPenney made the decision to remove Apple Pay for our stores, we apologize for any inconvenience this may have caused.
Payments Source
APRIL 22, 2019
As threats from nimble fintechs and global e-commerce companies abound, Visa’s turning to open development tools to place itself in the middle of the innovation, rather than making a solitary counterplay itself.
PYMNTS
APRIL 22, 2019
After being one of many department store retail players to shoulder through a difficult holiday season , Kohl’s has been back in action in 2019, looking to reverse the trend of falling foot traffic and sagging in-store sales. Online sales have been a strong point: As of the last earnings call with investors, CEO Michelle Gass was touting the company’s ongoing commitment to building out its digital offerings and expanding its omnichannel reach.
Payments Source
APRIL 22, 2019
In the month since FIS announced its $43 billion Worldpay deal, the company has disclosed little about its timeline for integrating the two large organizations.
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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.
PYMNTS
APRIL 22, 2019
Tesla invited investors and analysts to its California headquarters on Monday (April 22) to introduce a new microchip for self-driving cars and convince them that it will have an edge in the autonomous car industry, according to Reuters. Chief Executive Elon Musk also said the car company was preparing autonomous taxis that would be available in 2020.
Ron Shevelin
APRIL 22, 2019
There are three ways banking could become like healthcare--and two out of three would be for the better.
PYMNTS
APRIL 22, 2019
“You can’t teach an old dog new tricks” — so goes the dim, cynical saying. That would seem to apply to credit unions (CUs), and to Consumers Credit Union of Illinois specifically, one of the largest CUs around, which has been in business since 1930 (before the Great Depression reached its worst depths). However, we are living in an era when the physical is giving way to the digital, when data is becoming a more valuable commodity than oil — and when an increasing number of consumers, including
Payments Source
APRIL 22, 2019
The Eastern Caribbean Central Bank plans to launch a pilot in 2020 of a blockchain-based digital version of the Eastern Caribbean dollar. This marks the first time that a central bank will have issued digital legal tender using the blockchain.
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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.
PYMNTS
APRIL 22, 2019
The massive global trade finance gap is the topic of conversation for many banks and FinTech firms looking to strengthen their position in the market. Banks have the customer and financial institution (FI) relationships needed to facilitate trade finance, while FinTech firms have the technology to digitize and accelerate the process for participating parties.
CFPB Monitor
APRIL 22, 2019
This Wednesday April 24th, the Federal Deposit Insurance Corporation and Duke University’s Fuqua School of Business and Innovation and Entrepreneurship Initiative will host a conference titled “ Fintech and the Future of Banking ” in Arlington, Virginia. The FDIC describes the catalyst for the event as the belief that “at the intersection of research and experience lies good public policy.”.
PYMNTS
APRIL 22, 2019
Coffee chains are brewing up a battle over customer loyalty: After news surfaced that Starbucks was updating its rewards offering, Dunkin’ is revamping its own rewards program with a pilot multi-tender system. The company is testing a DD Perks program that lets diners earn points at over 1,000 stores, regardless of how they pay. Previously, members of the chain’s DD Perks program could only earn points by paying with a gift card enrolled in the offering.
CFPB Monitor
APRIL 22, 2019
On April 18, 2019 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2019-06 setting forth new documentation requirements for down payment assistance provided by government entities to be used in connection with Federal Housing Administration (FHA) insured mortgage loans. Significantly, the new requirements are effective for case numbers assigned on or after April 18, 2019.
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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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