Chris Skinner
JULY 26, 2017
I recently appeared on an interview with Salesforce’s LeadingEdge webcast. Afterwards, they picked out 12 statements I made that they thought particularly noteworthy, so thought I would repost them here: 12 Noteworthy Quotes on the Future of Banking The digital revolution is fundamentally impacting every industry across the board, and banking is no exception — in fact, far from it.
Bank Innovation
JULY 26, 2017
Betterment users will now be able to seek advice from the world’s largest independent financial robo-advisers through the company’s mobile app. Today, the New York-based Betterment added a new messaging feature to their mobile app. This feature allows users to get specialized financial advice from licensed experts. Experts can offer advice on subjects like portfolio […].
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Chris Skinner
JULY 26, 2017
Innovate Finance has just published their report on the first half of 2017, and the investments made in FinTech. Global VC FinTech investment attracts $6.5 Billion in H1 2017 –with UK investment up 37% reveals Innovate Finance H1 2017 saw 787 deals globally, attracting $6.5 billion of VC investment, a 45% decrease year on year for the same period (YoY) – however, if you exclude the mega-deals in China in H1 2016, where three companies raised over $1 billion each, we see that global investment ha
Bank Innovation
JULY 26, 2017
Is PFM dead? If not, financial institutions should kill it, and move on to financial management features that will really help customers, according to a report on the subject released this week by financial consulting firm Celent. Report authors Dan Latimore and Stephen Greer make the argument that banks shouldn’t be focusing on PFM, so much […].
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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
JULY 26, 2017
Things we’re reading today include … Italian bank hit by major data breach RBS likely to avoid compulsory sale of Williams & Glyn Lloyds to pay back customers £300m in compensation for mortgage arrears errors Goldman launches new online lending strategy for mass affluent PayPal raises 2017 forecasts on growth in users, payment volumes City watchdog expands its crackdown on senior bankers to the whole financial sector Bitcoin fraud suspect Vinnik charged by US grand jury.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 26, 2017
A new company is launching in India to support accounts receivable and invoice management for businesses. Announcing its rollout on Tuesday (July 25), PayBee said it is looking to digitize the B2B payments process to help companies enhance cash flow management. The company said it integrates with existing accounting, ERP and distribution management solutions already in place within business clients.
Let's Talk Payments
JULY 26, 2017
Despite the ever-growing number of payments service providers, the payment experience itself will inevitably fade away into history (more precisely, become a back-end operation). However convenient and user-friendly modern payments.
PYMNTS
JULY 26, 2017
USA Technologies, the payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, announced news Tuesday (July 25) of the closing of its underwritten public offering of 9,583,332 shares of its common stock at a public offering price of $4.50 per share. In a press release, the company said the foregoing included the full exercise of the underwriters’ option to purchase 1,249,999 additional shares from USA Technologies (USAT).
Cisco
JULY 26, 2017
The value of seniority in traditional organizations is less about accumulating vacation days and more about knowing how to get things done and who to go to for what. In the past, this “tribal knowledge”—information and experience from veteran employees—was buried in hard drives or only passed down firsthand. Today, collaborative technologies are […].
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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
JULY 26, 2017
EML Payments is integrating its virtual payment capabilities into the accounts payable solutions offered by Mize Houser as the two look to help companies replace paper checks in B2B payments with virtual or ACH. Mize Houser provides accounting and AP solutions to franchisee owners; according to an announcement Tuesday (July 25), the company will begin offering those clients virtual payment capabilities to pay suppliers using EML Payments technology.
Let's Talk Payments
JULY 26, 2017
The biggest legal challenge of a FinTech in Brazil is to handle state regulation without losing agility, according to lawyer Rodrigo Vieira, who created the Startups and Innovation area within.
PYMNTS
JULY 26, 2017
As EBA Clearing continues to test its real-time, cross-border payments solution, the firm has announced another financial services company on-boarded to the service. UniCredit, based in Italy, said it is testing the RT1 pan-European instant payment solution developed by EBA Clearing, reports said Tuesday (July 25). The firms said UniCredit’s testing of the platform makes it one of the first banks to begin preparing for the rollout of the solution later this year.
Bobsguide
JULY 26, 2017
The financial world is set to change. When PSD2 regulations are introduced in 2018, UK financial institutions will be required to adopt open banking application programming interfaces (APIs) to enable the exchange of banking data and making of payments. The introduction of these new regulations.
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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
JULY 26, 2017
If the payments landscape is marked by entrenched players partnering with smaller firms making their mark in digital payments, add one more deal to the list. Visa announced news today of a global partnership with Marqeta , the open API issuer/processor platform that they’ve been working with over the past two years, that will now expand the universe of use cases for the instant issuance of physical, virtual and tokenized payments.
Bobsguide
JULY 26, 2017
Few would doubt that the Internet of Things (IoT) will disrupt everything we know about data transaction processing and analytics. According to Gartner, by 2020, 26 billion IoT devices will be creating data that will be communicated over the Internet for analysis – often in real time. And that.
PYMNTS
JULY 26, 2017
The B2B FinTech world hears it time and time again: eProcurement is becoming a strategic part of the enterprise. Strategic supplier management , contract negotiations, electronic sourcing and transacting — these are all ways the procurement functions can, in theory, generate savings that promote a more robust bottom line and healthier cash flow for the enterprise.
BankNXT
JULY 26, 2017
Shaun Weston talks to Edoardo Moreni from Emma about the next exciting few months ahead as his fledgling 'financial assistant' approaches launch day. Edoardo Moreni on setting up Emma, a ‘financial advocate’ on BankNXT.
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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
JULY 26, 2017
Developers platforms have quickly gone from being cutting edge to being something like table stakes for serious financial technology players, as Karen Webster observed in a recent conversation with Vantiv’s Head of Developer Integration’s Matt Ozvat — “it feels a bit like everyone out there has their own version of a platform for the developer.”. That is good news for developers — and the path to innovation — but it does create a supply question in a world with a finite number of FinTech develo
Payments Source
JULY 26, 2017
Visa has led a $25 million investment round in open card issuing platform Marqeta, and the two companies will collaborate on consumer and commercial payment projects.
PYMNTS
JULY 26, 2017
The U.S. Treasury’s Office of the Comptroller of the Currency (OCC) has again released its report on top risks facing banks, with its Spring 2017 analysis warning FIs that threats are coming from all angles. In some ways, the risks facing banks are longstanding: Non-traditional FIs and innovation are forcing banks to rethink their position in the market.
Payments Source
JULY 26, 2017
Cash and checks are still the most transparent and predictable form of payment for grocers, writes Mark Horwedel, CEO of the Merchant Advisory Group.
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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
JULY 26, 2017
The eCommerce arena can be tough for retailers to navigate. It seems like there’s something new happening every day that forces it off course. One recent disrupter is multinational retail corporation Walmart. With one of the larger online retail presences, Walmart is taking aim at a lucrative eCommerce market — China. As PYMNTS reported earlier this week, China’s online sales have recently seen a massive increase with in-country online shopping activities boosted by 33 percent.
Payments Source
JULY 26, 2017
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: Wells Fargo mistakenly leaks data; Canadians learn more about fintech; UniCredit embraces instant payments; A look at ransomware payments.
PYMNTS
JULY 26, 2017
Change is coming to the European banking scene. At the end of the year, a new regulation called the second Payment Services Directive (PSD2) will officially take effect, requiring banks, credit unions, financial institutions and FinTech companies across the continent to change the way they conduct business. The most important measure of PSD2 requires banks and other financial institutions to share data with companies they may consider competitors.
Payments Source
JULY 26, 2017
Total System Services Inc. said its income surged during the second quarter of 2017 based on continued revenues that totaled $1.2 billion, up 6.1% from $1.5 billion a year earlier.
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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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