Bank Innovation
AUGUST 25, 2017
It is no secret that Mobile Banking is increasing becoming a popular way of banking for many users. Its convenience and efficiency has made it an important way of banking. In fact, in a report published by RaddonSM, a subsidiary of Fiserv, shows that mobile banking usage has grown from 7% of all consumers in […].
Chris Skinner
AUGUST 25, 2017
I get press releases all the time and generally ignore them. In fact, I don’t know why they email me, as I never post them on the blog. Uh-oh. I just got one that I’m posting on the blog. Floodgates opening. What will happen when Amazon opens a bank. … The post Is Amazon About to Burst Banks? appeared first on Chris Skinner's blog.
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Bank Innovation
AUGUST 25, 2017
EXCLUSIVE—Is the end of credit, debit cards drawing near? Financial service firm Fiserv says, no. “Physical cards, they’re not going anywhere,” Sharon Pazlar, director of output solutions for Fiserv told Bank Innovation. “As much as mobile has bloomed, especially with the efficiency of mobile and online banking, the banks have to facilitate payment with whatever […].
Payments Dive
AUGUST 25, 2017
While the use of Apple Pay in mobile apps isn't a new concept, most retailers, especially in the SMB and mid-market world haven't taken advantage of its conversion advantages.
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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
AUGUST 25, 2017
Digital mortgage technology startup, Blend, raised $100 million in a Series D round, bringing its total funding to $166 million, the company said Thursday. The funding round was led by Menlo Park, California-based venture capital firm Greylock Partners. Other investors included Emergence Capital, 8VC, Lightspeed Venture Partners, and Nyca Partners. Based in San Francisco, Blend was established […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
AUGUST 25, 2017
American Express will sell its prepaid-card technology to payments solution provider InComm Holdings, the company said Thursday. Terms of the deal, which is expected to close in the Q1’18, were not disclosed. According to the announcement, InComm will also become the exclusive distributor of American Express’s prepaid reloadable and gift card products in the U.S. […].
PYMNTS
AUGUST 25, 2017
Urban FT , an industry leading software as a service (SaaS)-based digital banking platform, has confirmed it is in advanced negotiations with Digiliti Money Group (DGLT) regarding a potential transaction to help DGLT avoid potential bankruptcy proceedings. The two companies began discussions about the potential deal — and other possible opportunities that could benefit the mobile app technology firm’s shareholders, employees, suppliers and customers — after Urban FT submitted an unsolicited of
Bank Innovation
AUGUST 25, 2017
Mobile payments processor Square has gone old-school, opening up a new brick-and-mortar store. Located in Manhattan’s Nolita neighborhood, the store will show off some of the fintech’s hardware products, a display calculated to lure in new potential sellers onto Square’s network, it was reported yesterday. The hope is that the storefront will provide an enhanced […].
PYMNTS
AUGUST 25, 2017
Starbucks is planning to permanently shut down operations for its online store, effective Oct. 1. In preparation for the eCommerce closure, the website is offering discounted items up to 50 percent off, Business Insider reports. Products from the company’s eCommerce shop, which include coffee brewers, espresso makers, mugs, glasses, coffees and teas, will be available from other retailers, including grocery stores and Amazon after the company closes its online portal.
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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
Bank Innovation
AUGUST 25, 2017
Business management consulting company Accenture, acquired fintech consultancy VERAX, in a bid to enhance its banking technology offerings in Canada. The addition of VERAX’s technology (which delivers wealth management, brokerage, mobile and online banking, and capital markets “consulting initiatives” for leading financial institutions) will integrate into Accenture’s pre-existing technology capabilities for financial services within Canada. […].
PYMNTS
AUGUST 25, 2017
When consumers are sipping on an ice-cold beverage to fight against the brutal heat of summer, most aren’t thinking they’d love to have a custom pair of shoes to match their soft drink of choice. Or are they? Judging by the most recent sneaker trends, that might be exactly what consumers are seeking. Several recent beverage brand collaborations with shoe firms have received a generous amount of buzz, and the trend appears to be picking up steam.
Bank Innovation
AUGUST 25, 2017
For the approximately 1.5 million underbanked consumers in the United Kingdom, cash is still king, a fact e-commerce giant Amazon is keeping in mind with the launch of its “Top Up” service. The service, which works like Amazon Cash, is live today in the U.K. It enables individuals to put up to £250 into their […].
PYMNTS
AUGUST 25, 2017
A Toast To Lower Avocado Toast Prices. Good news for the housing market: After Amazon’s acquisition of Whole Foods is finalized on Monday, avocado prices will be coming down. With all that extra money they would have been spending on avocado toast, millennials will surely be diving into homeownership any day now. Joking aside – the retail news is that Amazon said to expect lower prices on staples at Whole Foods stores starting as soon as the ink dries on the deal, and apparently avocados fall i
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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.
Let's Talk Payments
AUGUST 25, 2017
MEDICI now! Startup Stories highlights the companies that are shaping the new Financial Technology industry. Keep an eye out each week for new stories! If you or someone you know.
PYMNTS
AUGUST 25, 2017
What do health savings accounts (HSA) or flexible spending accounts (FSA) do for consumers? Most of the people who have one couldn’t tell you. They don’t know what their benefits are. They don’t know how to access them. They don’t know the limits of their contributions, spending, or whether they need to save receipts. Siri doesn’t know any better than consumers, and neither does Google.
Payments Source
AUGUST 25, 2017
Ant Financial's Alipay is a big deal in China, and it wants to be a big deal globally. It's got several strategies already in motion, some of which have very big implications for other markets.
PYMNTS
AUGUST 25, 2017
The U.S. Federal Reserve has named a new payments strategy director tasked with heading the agency’s payment system improvement initiatives. The Fed first announced Dave Sapenaro as the successor to the role on Thursday (Aug. 24). As first vice president and chief operating officer of the Federal Reserve Bank of St. Louis, Sapenaro will take up the post previously held by Gordon Wekema, who is retiring.
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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.
Bobsguide
AUGUST 25, 2017
bobsguide's round-up of the biggest issues surrounding retail banking's remaing physical presence on the high street. Four ways in-branch banking tech will uplift customer experience. Graham Lloyd - Industry Principal of Financial Services, Pegasystems. For reasons not always quite.
PYMNTS
AUGUST 25, 2017
Visitors to Russian Burger King locations may have a new pay to pay for their Whoppers, onion rings and soft drinks with the advent of the fast food chain’s personal cryptocurrency system, a digital payment method the company’s Russian unit is calling “ Whoppercoin.” The chain is offering its new digital wallet system as a complement to a freshly-launched rewards program in Russia.
Let's Talk Payments
AUGUST 25, 2017
MEDICI now! Startup Stories highlights the companies that are shaping the new financial technology industry. Keep an eye out each week for new stories! If you or someone you know.
PYMNTS
AUGUST 25, 2017
Alipay , the world’s largest online and mobile payment platform operated by Ant Financial Services Group, is now available for Chinese tourists at all 242 Starbucks locations across Malaysia. Chinese tourists can find the nearest Starbucks through the in-app Discovery platform and then pay for their drinks in RMB via Alipay. In addition, the two companies are running a marketing campaign from Aug. 18 to Oct. 31, giving a Chinese tourist using Alipay in Starbucks 10 percent off with a cap at RMB
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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
AUGUST 25, 2017
Society has accepted central banks’ monopoly over creating and controlling the flow of money, but history and current technological innovations point to alternative approaches.
PYMNTS
AUGUST 25, 2017
The Securities Exchange Commission (SEC) announced Thursday (Aug. 24) it has temporarily suspended trading in the securities of Canada-based company First Bitcoin Capital Corp. (BITCF). In a press release , the SEC said the suspension will stay in place until Sept. 7 of this year. “The Commission temporarily suspended trading in the securities of BITCF because of concerns regarding the accuracy and adequacy of publicly available information about the company including, among other things, the v
Payments Source
AUGUST 25, 2017
A federal judge sanctioned the Consumer Financial Protection Bureau on Friday by dismissing a massive lawsuit against several payment processors, saying the agency demonstrated a "willful disregard" for court rules.
PYMNTS
AUGUST 25, 2017
The alternative lending sphere has fallen out of favor with venture capitalists, according to CNBC reports this week. BlueVine CEO Eyal Lifshitz told the publication that there has been a shift in how alt-lenders get financed, with backers now looking more closely at the “viability of the overall lending model.” Researchers found that online lenders are headed for a five-year low in venture capital levels.
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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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