Payments Dive
AUGUST 30, 2018
Every consumer is a digital consumer, and to be in banking means you have to be in digital banking. Frankly, digital is no longer an expense; it's a necessary investment that can deliver real returns for the financial institution.
Chris Skinner
AUGUST 30, 2018
I wasn’t going to post this blog but the more it sits in my head, the more I felt I had to write it. Like everyone I expect, I was really shocked by the Genoa Morandi bridge collapse that killed 43 people this month. The idea of driving happily along … The post This bridge collapse is a shocking image of legacy appeared first on Chris Skinner's blog.
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Bank Innovation
AUGUST 30, 2018
Bank of America might have 25.3 million active mobile users, but only two million of those users are using the bank's virtual assistant Erica. That's not even 8%. "Keep in mind that we started the rollout earlier this year with Rhode Island (which has a relatively small population) and completed in all markets in June," Betty […].
Chris Skinner
AUGUST 30, 2018
I got into an argument after a presentation where I said that active fund management is dead. It wasn’t the best thing to say in front of a group of active fund managers, but I can’t help myself. It’s my background in dealing with programme trading in the 1990s; then … The post A monkey could pick stocks better than me appeared first on Chris Skinner's blog.
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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
PYMNTS
AUGUST 30, 2018
When you want to know something: Follow the money. In India, then, to find out how well, or not so well, demonetization efforts are playing out, follow the money. News comes this week, per India’s central bank, that cash still is king — more than ever. In fact, the value of cash grew 37.7 percent during a period that was supposed to reduce reliance on paper notes.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
AUGUST 30, 2018
Brands might want a space to test new concepts with shoppers in brick-and-mortar retail environments, but they don’t always want the time and expense involved in building out a permanent store. To that end, retailers like Macy’s are turning to pop-up shops to showcase brands — and giving them a level of flexibility not often found with traditional stores.
Payments Source
AUGUST 30, 2018
The new optimism is fueled by rising standards of living, increases in smartphone usage and cheap data plans that are boosting internet penetration across the nation. Perhaps most important, India is the last big retail market still up for grabs, with an internet economy projected to double to $250 billion by 2020.
PYMNTS
AUGUST 30, 2018
One often hears that many people, especially in the most prosperous countries of the West and Asia, live better than the kings and queens of past centuries. (Given one’s tolerance for constant media attention and nonstop family drama, one might also say that many people live better than the current British monarch, but that’s another topic.). The internet and pocket-sized mobile devices offer access to information outside the grasp of the most educated monks and scholars.
Payments Source
AUGUST 30, 2018
While the battle for the consumer’s coffee or tea beverage, both hot and cold, is increasingly moving in a mobile direction, the challenge remains as to whether Dunkin’ recent moves are enough for it to succeed against Starbucks.
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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
AUGUST 30, 2018
Dunkin’ Donuts announced Thursday (August 30) that ordering via Amazon’s voice-activated digital assistant Alexa is now available. In a press release , Dunkin’ Donuts said the new integration of Alexa means DD Perks Rewards members can place a mobile order via voice on an Alexa-enabled device and skip the line to pick up. The company said customers who have a DD Perks account and an Amazon account can link them together in the Alexa app once they open the skill, with all ordering and payments ha
Payments Source
AUGUST 30, 2018
Young consumers do not trust centralized authorities, making the distributed ledger attractive, according to Donika Kraeva, strategic communications manager for Dentacoin.
PYMNTS
AUGUST 30, 2018
Business growth in Africa requires better payments infrastructure, and that effort received a significant boost this week when Stripe, Visa and other firms invested $8 million in Paystack. The Nigerian company enables developers to create payment tools via its APIs, and connects multiple payment processors by handling transactions for merchants and consumers.
CFPB Monitor
AUGUST 30, 2018
The Office of the Comptroller of the Currency (OCC) has issued an advance notice of proposed rulemaking (ANPR) on which it invites public comment “to solicit ideas for building a new framework to transform or on ways to transform or modernize the regulations that implement the Community Reinvestment Act of 1977 (CRA).” The ANPR follows the Treasury Department’s issuance of a memorandum in April 2018 that made recommendations for modernizing the CRA to reflect the significant organizational and
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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
AUGUST 30, 2018
To bring the concept of the farmers’ market to the world of eCommerce, online marketplaces are connecting local producers with consumers hungry for fresh food. With that in mind, companies such as Farm To People source small-batch and handcrafted proteins and produce that they deliver to shoppers who want to know more about what they put in their refrigerators.
Payments Source
AUGUST 30, 2018
For the past year, select Google advertisers have had access to a potent new tool to track whether the ads they ran online led to a sale at a physical store in the U.S. That insight came thanks in part to a stockpile of Mastercard transactions that Google paid for.
PYMNTS
AUGUST 30, 2018
When myPOS launched in 2014, cash was still mostly king among small businesses. In fact, as Andrew Byrne, COO at myPOS , told Karen Webster, in some places it still is. Camden Market , Byrne noted as an example, is a popular destination in London that bills itself as a place to “eat, drink, shop and dance.” All of which are true, Byrne said, so long as one has pounds in their pocket – because many of the merchants in markets don’t take cards, and will politely direct customers to the nearest ATM
Payments Source
AUGUST 30, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: PayPal expands in Brazil; Skagen boosts wearables; Terra gets funding for stable coin; EMV approaches full maturity 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.
PYMNTS
AUGUST 30, 2018
Apple has made a new bet on augmented reality (AR), buying Akonia Holographics , which makes lenses for the technology. The secretive deal, confirmed this week, comes amid other augmented reality moves by the likes of PayPal and Target. Apple bought the Colorado-based company for an undisclosed sum. “Apple buys smaller companies from time to time, and we generally don’t discuss our purpose or plans,” Apple told Reuters , declining to release more details.
ATM Marketplace
AUGUST 30, 2018
Biometrics has rapidly expanded to consumer applications such as payment services and ATM cash withdrawal in high-fraud markets. By 2020, nearly all smart devices will feature some form of biometric security, but many technologies enabled by biometrics will still be vulnerable to spoofs and hacking.
PYMNTS
AUGUST 30, 2018
India-based eCommerce marketplace Paytm Mall wants to work more closely with regional retailers and team up with eCommerce grocery service BigBasket to compete with Flipkart and Amazon, according to recent Reuters reports. It is currently the third-largest company competing in the country’s retail space. “We are in the process of integrating BigBasket on our app,” said Amit Sinha, Paytm Mall’s chief operating officer.
Payments Source
AUGUST 30, 2018
The transparency and responsibility you demonstrate will help you build more trusting relationships with your customers and the public, according to Carl Mazzanti, founder and CEO of eMazzanti Technologies.
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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
AUGUST 30, 2018
Global Payments, the worldwide provider of payment technology and software solutions, announced on Thursday (Aug. 30) that President and Chief Operating Officer David Mangum is leaving the company. In the press release , the company thanked the executive for his service but did not say why he is leaving. “I would like to thank David for his significant contributions to the growth of Global Payments over the past decade,” said Jeff Sloan, chief executive officer.
Payments Source
AUGUST 30, 2018
David Mangum will be leaving his post as president and chief operating officer of Global Payments, an announcement that came on the same day it inked deals to retain other top execs, including CEO Jeff Sloan.
PYMNTS
AUGUST 30, 2018
The Reserve Bank of Australia had an outage Thursday (Aug. 31) that lasted around three hours and impacted payments throughout the market. According to Reuters , the Reserve Bank of Australia tweeted that maintenance of its “fire control systems caused an interruption of power to the bank’s main data center” and that it was “re-establishing full services.
Bobsguide
AUGUST 30, 2018
In April 2018, the UK's TSB bank left up to 1.9m customers unable to access accounts, due to a botched system migration that was rushed, inadequately tested with poor internal communication. TSB, previously part of the Lloyds Banking Group was bought in 2015 by Sabadell Bank and was due to.
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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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