Bank Innovation
SEPTEMBER 13, 2019
Mastercard is doubling down on its prepaid card business, which it sees as fuel for the rise of many consumer-facing fintech companies. During its investor day on Thursday, the payments giant said its prepaid card business grew 19% in gross dollar volume from the first half of last year. Furthermore, the company expects its prepaid […].
PYMNTS
SEPTEMBER 13, 2019
Voice recognition could soon play a bigger role in retail — especially in the world of quick service restaurants. That’s the signal sent recently by McDonald’s. The fast food operator recently announced an agreement to acquire Apprente. The company said in an announcement that the arrangement is another bold step in advancing employee- as well as customer-facing innovations while bolstering the technological capabilities of the chain.
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Payments Dive
SEPTEMBER 13, 2019
Gerrard Schmid, the CEO and president of Diebold Nixdorf, argues that bank branches are here to stay, despite banks' efforts to cut costs and threats from challenger banks.
PYMNTS
SEPTEMBER 13, 2019
Amazon will host an event on Sept. 25 in Seattle to introduce new products and services. According to CNBC , the eCommerce giant is expected to debut new hardware for its Echo family, as well as launch new products. At last year’s event, Amazon announced 15 Alexa-enabled products, including a microwave, new Amazon Echo products, a wall clock with Alexa built-in and more.
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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
SEPTEMBER 13, 2019
Brands have begun to Venmo their most loyal customers with rewards points converted to Venmo cash. PayPal-owned Venmo this week rolled out a partnership with PepsiCo’s loyalty program Pepcoin, in which customers who buy a PepsiCo beverage and a Frito-Lay snack together can earn up to 10% in cashback rewards, paid out in Venmo cash […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
SEPTEMBER 13, 2019
Jack Dorsey’s Square already lets customers buy and sell Bitcoin on its popular Cash App. Soon, it may let them buy and sell stocks. Square is testing out a new Cash App feature that would enable users to make free stock trades, according to a video outlining the product’s features seen by Bloomberg. While the exact date of its launch […].
Chris Skinner
SEPTEMBER 13, 2019
As it’s Friday, a slightly more whimsical post. I was amused to see a story floating around the internet yesterday that read like this: ‘Missing’ woman mystery solved A group of tourists spent hours Saturday night looking for a missing woman near Iceland’s Eldgja canyon, only to find her among … The post Elvis seen opening a bank account in Hawaii appeared first on Chris Skinner's blog.
Accenture
SEPTEMBER 13, 2019
I am pleased to collaborate with Conrad Sheehan in developing this blog. Conrad leads our core payments practice in North America. Working directly with our financial services clients on strategic, operational and technical issues, he is on the front lines of the evolution of real-time payments. Digital technologies have conditioned us to crave immediacy.
Chris Skinner
SEPTEMBER 13, 2019
Things we’re reading today include … Deutsche Bank is first to settle bond-rigging lawsuit, amid federal probe Hong Kong’s bourse seeks to snap up the London Stock Exchange Steven Mnuchin begins reforming America’s giant mortgage-guarantee firms Google to pay €1bn to end French tax probe Hong Kong stock market operator … The post Things worth reading: September 13, 2019 appeared first on Chris Skinner's blog.
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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
Abrigo
SEPTEMBER 13, 2019
A rather common method for financial institutions to hedge earnings or value at risk is an interest rate swap transaction. As we move into ever-changing rate environments, eventually you or someone on your ALCO committee may wonder exactly what an interest rate swap would do for the institution. A good interest rate risk model should have the capability to do this type of what-if modeling so that you and the committee have the information needed to make the best decision.
Bank Innovation
SEPTEMBER 13, 2019
Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, September 13, 2019. In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news developments: How digital-only banks are attacking overdraft fees; Why banking startup Varo dropped goals-based saving after two years; and How banks are […].
PYMNTS
SEPTEMBER 13, 2019
Rampant data breaches have left consumers on edge about digital fraud. They are not only anxious that their personally identifiable information may be compromised, but also skeptical that their financial institutions (FIs) would be able to spot fraud when it happens. In fact, recent PYMNTS research shows that most consumers believe they can do a better job of identifying and protecting themselves against fraud than their FIs, with 71.2 percent saying they believe the security of transactions bei
Payments Source
SEPTEMBER 13, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Australia pushes open banking; Western Union makes a deal in Canada; Patreon sells product curation company Kit; Uber and Lyft lobby against California "gig economy" bill.
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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
SEPTEMBER 13, 2019
The FinTech Northmill, which offers cloud-based financial services, was awarded a banking license from the Swedish Financial Supervisory Authority (SFSA) on Friday (Sept. 13), according to reports. The company submitted an application two years ago and is now all set to become an official bank. “Northmill has grown organically and laid a solid foundation with our current credit and insurance offerings to our 200,000 users,” said Margareta Lindahl, chairwoman of the board at Northmill.
Payments Source
SEPTEMBER 13, 2019
Even without cryptocurrency, blockchain provides necessary security and processing benefits, says Tatvasoft's Vikash Kumar.
PYMNTS
SEPTEMBER 13, 2019
Amazon is testing an easier way for customers to leave feedback on purchased items, according to a report. Normally, when someone wants to rate an item, they have to fill out additional information, like a review title and/or written review. The new pilot program debuts one-tap ratings, meant for people who don’t have time or don’t want to write out an actual review of a product.
ATM Marketplace
SEPTEMBER 13, 2019
Diebold Nixdorf wrapped up its three-day DN Intersect conference this week in Las Vegas, where partners and vendors came from around the country to learn more about the company's vision for the future and check out its DN Series of ATMs.
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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
SEPTEMBER 13, 2019
As detailed in the latest PSD2 Tracker , tomorrow (Sept. 14) is the deadline to comply with SCA, shorthand for strong customer authentication. Many firms are likely to fall afoul of compliance , especially if they want to field international transactions. The potential impact may be significant. Data: 30 percent: Share of authorization requests that might be declined under SCA. $57 billion: Amount that could be lost after SCA launches (under current levels of preparedness). 62 percent: Portion o
Payments Source
SEPTEMBER 13, 2019
It's long been understood that transit systems are fertile ground for payment innovations.
PYMNTS
SEPTEMBER 13, 2019
France and Germany released a joint statement on Friday (Sept. 13) that calls out Facebook’s proposed cryptocurrency Libra as potentially harmful to the financial sector, warning that it could block the coin’s authorization in Europe. Reuters is reporting that the two countries are instead throwing their support behind the idea of a public crypto. The European Central Bank (ECB) recently said it was working on a public digital currency that would make projects like Libra unnecessary.
Banking Exchange
SEPTEMBER 13, 2019
"It provides the encouragement people need to vote with their dollars." Consumer Credit The Economy Feature Financial Trends Lines of Business Retail Banking Payments Social Media Cards Community Banking Feature3 Online Mobile.
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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
SEPTEMBER 13, 2019
Though the vast majority of fine jewelry on Earth is designed to be worn by women, as a product it is often marketed to men. That is not so much a fundamental mismatch as it is a reflection of a certain buying bias that exists among consumers, according to Mejuri CEO Noura Sakkijha. Jewelry is mostly viewed as something given to women, not something bought by them.
CFPB Monitor
SEPTEMBER 13, 2019
On September 6, 2019, the Bureau filed a complaint in federal court in the Central District of California against Certified Forensic Loan Auditors, LLC (CFLA) and Andrew Lehman (Lehman) in connection with their offering, advertising, marketing, and selling of purported financial advisory and mortgage assistance relief services, and against Michael Carrigan (Carrigan), who was CFLA’s sole auditor during the relevant time period.
PYMNTS
SEPTEMBER 13, 2019
To enable continued innovation and growth in the digital economy, the Business Roundtable is asking Congress to pass a comprehensive consumer data privacy law that establishes a national privacy framework and strengthens protections for consumers. The organization is comprised of top chief executive officers (CEOs) of U.S. companies. A letter on Business Roundtable letterhead signed by 51 U.S.
Payments Source
SEPTEMBER 13, 2019
Square is testing out a new Cash App feature that would enable users to make free stock trades, according to a video outlining the product’s features seen by Bloomberg.
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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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