Chris Skinner
FEBRUARY 20, 2019
Name the company that strikes fear into everyone’s hearts in business? In the 1980s, it was IBM. You never get fired if you buy IBM, even though It’s a Bloody Mess. In the 1990s, it was Microsoft. Sure, Most Intelligent Creatures Realise Our Software Only Fools Teenagers, but yes, they … The post When will Amazon launch its bank? appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 20, 2019
Can regularly checking your credit score actually help improve your results? We wanted to know the answer to that critical question, so Credit Sesame partnered with Megan Hunter Antill and Jessica Yu, Ph.D., candidates in Quantitative Marketing at Stanford Graduate School of Business, to find out. We conducted an analysis of consumer behavior patterns and […].
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PYMNTS
FEBRUARY 20, 2019
There are markets and there are $100 trillion markets. And might digital payments be in that $100 trillion classification? In an interview with CNBC, PayPal CEO Dan Schulman estimated the market will come into that size, noting, “That’s sort of the market — total adjustable market — we’re playing into.” He said that his firm may have as much as 1 percent to 2 percent of the market currently.
Chris Skinner
FEBRUARY 20, 2019
Things we’re reading today include … Politicians must stand up for City after Brexit Barclays fraud trial: ex-chairman ‘not aware’ of £280m Qatar deal Standard Chartered sets aside $900 million to cover U.S., British fines Lloyds bullish over Brexit as £4bn payout to investors unveiled ‘One-of-a-kind’ microfinancing project transforms the … The post Things worth reading: 21st February 2019 appeared first on Chris Skinner's blog.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
PYMNTS
FEBRUARY 20, 2019
Adyen, the payments platform, announced Wednesday (Feb. 20) it has launched a new payment service that is powered by open banking. In a press release, the company said it launched an alternative to card payments that takes advantage of the European Union’s Payment Service Directive (PSD2) requirement for banks to create APIs for third parties to initiate payments on behalf of consumers.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
FEBRUARY 20, 2019
Small business (SMB) adoption of technology can be a process filled with growing pains and friction points, thanks to the cost and disruption associated with integrating a new technology. Those challenges have made SMBs notoriously technology-adverse, though it may be an unfair characterization, particularly considering the influx of small business FinTech innovation in recent years.
Bank Innovation
FEBRUARY 20, 2019
A recently-launched micropayments platform seeks to upend how people buy and sell digital content. QUID, a Toronto-based payments startup founded by a Google veteran, enables online transactions as small as pennies — at very high volumes — in realtime. CEO Mohit Cheppudira told Bank Innovation it’s historically been almost impossible to make tiny digital payments […].
Chris Skinner
FEBRUARY 20, 2019
Things we’re reading today include … Politicians must stand up for City after Brexit Barclays fraud trial: ex-chairman ‘not aware’ of £280m Qatar deal Standard Chartered sets aside $900 million to cover U.S., British fines Lloyds bullish over Brexit as £4bn payout to investors unveiled ‘One-of-a-kind’ microfinancing project transforms the … The post Things worth reading: 21st February 2019 appeared first on Chris Skinner's blog.
PYMNTS
FEBRUARY 20, 2019
In an interview with Harvard Law professor Jonathan Zittrain, Facebook CEO Mark Zuckerberg said that he’s “potentially interested” in using blockchain technology for Facebook logins, and that the tech could help the process of allowing access to data by third-party apps, according to a report from The Verge. Facebook has recently been shoring up its blockchain team , led by David Marcus, who used to be the VP of Messenger.
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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
FEBRUARY 20, 2019
Name the company that strikes fear into everyone’s hearts in business? In the 1980s, it was IBM. You never get fired if you buy IBM, even though It’s a Bloody Mess. In the 1990s, it was Microsoft. Sure, Most Intelligent Creatures Realise Our Software Only Fools Teenagers, but yes, they … The post When will Amazon launch its bank? appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 20, 2019
European insurer Allianz SE is increasing the size of its tech investment fund to 1 billion euros ($1.1 billion), making it one of the largest corporate-backed venture funds in Europe. Allianz X was launched in 2016 with a 430 million-euro checkbook and has done about 15 deals, including an investment in Indonesian ride-hailing firm Go-Jek, […].
PYMNTS
FEBRUARY 20, 2019
Some entrepreneurs develop new tools after they find that existing technology doesn’t meet the needs of a specific market: Valyant AI CEO and Founder Rob Carpenter, in one case, realized that a lot of the conversational artificial intelligence tools on the market were not well-positioned for enterprises. “They’re good tools for the consumer space,” Carpenter said, adding that they are more forgiving when people ask for music or directions.
Bobsguide
FEBRUARY 20, 2019
Regulatory support in Latin America is “an amazing sign” for firms aiming to ride the wave of a booming fintech space in markets like Mexico and Brazil, according to ID Finance CEO, Boris Batine, though new entrants need to be ready to tackle new risks. “China was exciting, but.
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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
FEBRUARY 20, 2019
Cross-border payments firm Veem is introducing a rewards program for its business customers. An announcement made on Tuesday (Feb. 19) said the company is rolling out VeemRewards, a cash-back rewards program for businesses that use Veem to send payments across borders. Rewards can be earned by adding new businesses to their supply chains, invoicing new customers or making payments via Veem. “International bank wire technology hasn’t been updated since the 1970s,” said Veem Foun
Payments Source
FEBRUARY 20, 2019
While most early GDPR fines have been relatively low, a larger more recent fine at Google is a sign of larger levies to come, according to Karen Neuman and Federica De Santis of the Financial Industry Group.
PYMNTS
FEBRUARY 20, 2019
Coinbase announced that it has acquired Neutrino , a blockchain intelligence platform. “Blockchain intelligence is increasingly important in the crypto ecosystem, and is necessary to achieve our mission of bringing the open financial system to the world,” wrote Varun Srinivasan, engineering director at Coinbase, in a blog post. “By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from peoples’ accounts, investigate ransomware attacks and identi
Payments Source
FEBRUARY 20, 2019
Through a partnership with Adyen, Dutch airline KLM is one of the first large merchants to adopt an online payments approach that bypasses payment cards, powered by PSD2's open banking framework.
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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
FEBRUARY 20, 2019
Blockchain is increasingly being separated from cryptocurrency, with an eye toward disparate use cases — some done at the national level. To that end, reports came this week that Germany has put a consultation and commentary period in place that will focus on blockchain, with a goal of having a strategy outlined by the summer, Reuters said. The newswire said that Berlin exists as a “hub” for the industry, where roughly 10 startups focus on blockchain, and end markets span energy, pharma and tra
Payments Source
FEBRUARY 20, 2019
The all-in-one card market has been a dead end for many years, with products like Coin, Swyp, Stratos and Plastc doomed to be mere footnotes in the history of fintech. Curve is determined to avoid the same fate, and it says PSD2 is its ticket to success.
PYMNTS
FEBRUARY 20, 2019
Challengers. Neobanks. Upstart institutions. Alternative banks. These newcomers to the financial services landscape go by many names, and have gained popularity, especially among younger users, for providing access to these services via smartphone apps. While they were once seen as novelties, challenger banking institutions are further encroaching into traditional banks’ territory, adding new responsibilities and products to their portfolios, such as lending.
Payments Source
FEBRUARY 20, 2019
Consumers are expressing an ever-increasing interest in making digital Person-to-Person payments to friends, families and even businesses for bills, shared expenses or temporary loans. Digital P2P payments are quickly beginning to displace other payment forms such as cash and checks due to their convenience and growing ubiquity.
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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.
PYMNTS
FEBRUARY 20, 2019
Tide, the laundry brand owned by CPG Detergent, is introducing a service called Tide Cleaners, an on-demand dry cleaning and laundry service, at 1,000 locations in cities across the country, according to reports. The service works with drop boxes in offices, storefronts and high-rise buildings. The company’s goal is to have Tide Cleaners at more than 2,000 spots across the United States by the latter part of 2020.
Payments Source
FEBRUARY 20, 2019
Whether they process cards, bank accounts, cash, or whatever comes next, digital payment systems must be reliable, flexible and ever-advancing, writes Michael Kaplan, chief revenue officer at PayNearMe.
PYMNTS
FEBRUARY 20, 2019
LendingClub reported that loan originations were up double digits in the fourth quarter of 2018 , marked by growth in personal loans and auto loans in what the company termed as dynamic and competitive markets, and amid rising interest rates. Headline results missed the Street, as adjusted loss per share on the bottom came in at a penny, while the Street had expected earnings of two cents per share.
Payments Source
FEBRUARY 20, 2019
Bill.com is eliminating wire-transfer fees for businesses making electronic payments in local currencies in key global markets, as competition in the small- to midsize B2B payments sector heats up.
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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.
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