Payments Dive
JANUARY 9, 2020
As Big Tech encroaches upon banking, some of the leading app developers in the ride sharing and food delivery space are carving out a niche for themselves in financial services. The challenge posed by these companies could have profound implications for the future of payments.
Chris Skinner
JANUARY 9, 2020
Looking beyond 2020, there has been a rise of quite a number of folks looking to the longer-term future. Here’s the key ones I’ve picked up on so far. First is Royal Bank of Canada with their Imagine 2025 series. Quite an investment and lots of interviews and insights. The … The post To 2020 … and beyond appeared first on Chris Skinner's blog.
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Bank Innovation
JANUARY 9, 2020
American Express Co. cleared a key hurdle in its bid to accessing China’s $27 trillion payments market after the central bank accepted its application to start a bank card clearing business. The People’s Bank of China made the announcement on its official Wechat account Wednesday, without giving more details. The decision to accept the application […].
Payments Dive
JANUARY 9, 2020
Payment processors can make running your business easier. But it’s up to you to make the right investment and select the one that will best suit your needs and make your customers happy.
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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
JANUARY 9, 2020
Bank Innovation is proud to announce a brand-new event — 2020 Banking Automation Summit — designed to provide industry professionals with the necessary platform to share insights, trends, strategies and practices to automate back-office functions. The premiere industry event will take place June 1-2 at the Conrad Miami. Click here to view the full agenda.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 9, 2020
HighRadius, a startup which offers tools to automate the corporate invoicing process, has raised $125 million in Series B funding to grow its product suite and expand its international reach, the company confirmed this week. With the new funding, HighRadius hopes to expand its relationship with bank partners and their corporate clients through its treasury […].
Accenture
JANUARY 9, 2020
Accenture’s ground-breaking 2019 Global Financial Services Consumer Study has seen four mindsets emerge from the data: Pioneers, Sceptics, Traditionalists and Pragmatists. In this series of blog posts, we’ll look at each type in the Australian context.¹ The global view Globally, Sceptics formed the largest group among the survey’s 47,000 respondents, with one in three people….
Bank Innovation
JANUARY 9, 2020
Look no further than Citigroup to catch a glimpse of the future of bank product development. In a revealing Meetup fireside chat yesterday evening, Alex Sion and Rachel Moore shared details on the inner workings of Citi’s internal innovation operation, known as D10X. By my read, D10X will largely replace traditional product development at Citi […].
PYMNTS
JANUARY 9, 2020
Following anxieties that robots would replace their jobs, small business (SMB) accountants are now on a path to potentially become more strategic partners with their SMB clients. Many industry players are touting the ability to use analytics and automation technology to handle mundane, time-consuming tasks, freeing up resources for accountants to take on more advisory roles.
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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
JANUARY 9, 2020
Citi Ventures is known for its investments in such large startups as Plaid, Square and Betterment, but it’s also focused on building innovation and entrepreneurship inside the bank. D10X, which was created three years ago, is one of the ways Citi’s corporate venture arm incubates new concepts and ideas. It’s led by internal entrepreneurs who […].
PYMNTS
JANUARY 9, 2020
Enterprise digitization continues to ramp up the availability of data, and open up new opportunities for in-depth analysis of that information. However, it’s no longer enough for solution providers to simply analyze corporate data. Businesses demand actionable insights, and analytics technology must be tailored to users in a way that can guide corporate strategy.
BankBazaar
JANUARY 9, 2020
Looking for trends in India’s personal finance market? Let’s take stock of the key insights garnered from the Moneymood 2020 report presented by BankBazaar. BankBazaar , India’s leading online marketplace for financial products has launched the second edition of the BankBazaar Moneymood ® 2020 report. It offers insights from the credit purchase trends in India in 2019 and presents the outlook for 2020.
PYMNTS
JANUARY 9, 2020
Consumers have always influenced how payment methods evolve – stretching back centuries to the barter system, and extending, now, into the digital age. And as payments are done in bits and bytes, across all manner of use cases, consumers prize convenience and personalization. For merchants, it’s imperative to take stock of the existing (and evolving) payment preferences that can be markedly different across generations – but delivering a seamless experience is a way to cement loyalty and drive r
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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.
Bobsguide
JANUARY 9, 2020
While the regulatory wave that followed the financial crisis appears to have crested, financial institutions are still facing new challenges. Global and local regulators are demanding greater reporting integration across multiple business processes and faster reactions to change. The.
PYMNTS
JANUARY 9, 2020
When Sabre and Visa announced a new partnership in April to pair Visa virtual commercial cards with the Sabre Virtual Payments gateway , the goals were fairly big: create a virtual B2B travel payments solution that was faster, more secure and more transparent for buyers and suppliers. That is a tall order in the global travel market — an $8 trillion (with a “t”) industry that spans the entire surface of the planet.
Payments Source
JANUARY 9, 2020
China’s slow courting of U.S. payment companies made a tiny step forward this week, shortly after a similar gesture from the U.S. government that teases progress in the broader trade dispute.
PYMNTS
JANUARY 9, 2020
A cyberattack is being blamed for holding up paychecks from the remaining staff at the beleaguered Barneys New York. A source told Page Six on Wednesday (Jan. 8), “No one got paid last week. We were told a group of cyber hackers took over one of our subsequent systems, the system we use to get paid. They didn’t initially tell us. They said the systems were hacked on Thursday — when we noticed our checks weren’t uploaded on the platforms.”.
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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.
CFPB Monitor
JANUARY 9, 2020
The CFPB has announced the initial four members of its Taskforce on Federal Consumer Financial Law. This past October, the Bureau announced its plans to establish the Taskforce to examine ways to harmonize and modernize federal consumer financial laws. The four members include Todd J. Zywicki, Professor of Law at George Mason University’s Antonin Scalia Law School who also serves as Senior Fellow of the Cato Institute.
PYMNTS
JANUARY 9, 2020
Make sign-ups fast, trials free and features rich. These are some of the quick takes from the latest PYMNTS Subscription Commerce Conversion Index , where SaaS/cloud computing merchants pulled ahead of business services providers, among other surprises. Ranking the performance of nearly 200 subscription commerce brands using aggregated scores, the latest Index notes the entry of Disney+ into the streaming wars in late 2019.
Payments Source
JANUARY 9, 2020
From Malta to Belgium, the past three years have served as something of a shopping market between payments-based fintechs seeking alternative jurisdictions through which they could still be licensed within the EU, and investment agencies hoping for a piece of their business.
PYMNTS
JANUARY 9, 2020
It’s all the fashion these days to battle it out online for more market share when it comes to selling clothes to consumers. Excuse the bad pun, but the fashion game looks ready to gain new energy this year, thanks to recent news involving Amazon. Just in case you haven’t heard yet, Amazon is planning to launch a luxury fashion platform in the first half of this year, according to reports.
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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.
CFPB Monitor
JANUARY 9, 2020
The U.S. Court of Appeals for the Seventh Circuit affirmed the district court’s judgment on the pleadings in favor of the defendants (a debt buyer and a collection agency) in a putative class action that alleged the defendants had violated the Fair Debt Collection Practices Act by sending the named plaintiff a collection letter identifying both the original creditor and the debt buyer.
PYMNTS
JANUARY 9, 2020
Uber is dropping upfront pricing in favor of estimates in response to the California gig economy law that took effect Jan 1. Reuters saw an email to riders and drivers on Wednesday (Jan. 8) advising them that the final price of a trip would be calculated at drop-off “based on the actual time and distance traveled.”. “Due to a new state law, we are making some changes to help ensure that Uber remains a dependable source of flexible work for California drivers,” the company said in the email.
CFPB Monitor
JANUARY 9, 2020
The CFPB and Utah AG’s Office have announced that they will hold the first joint office hours as part of the American Consumer Financial Innovation Network (ACFIN). The joint office hours will be held on January 30, 2020 in Salt Lake City, Utah. The CFPB announced ACFIN’s creation last September, in conjunction with finalizing revisions to its trial disclosures and no-action letter policies and its proposal to create a new fintech sandbox policy.
PYMNTS
JANUARY 9, 2020
Indian financial firm Paytm will intensify efforts to become a major player in one of the world’s biggest payments markets, according to reports on Wednesday, Jan 8. After raising $1b last November, the Noida-headquartered firm confirmed its business app now features a comprehensive QR code system operating on multiple platforms, accepting payments from diverse sources, including mobile wallets as well as any powered by UPI, a systems infrastructure widely utilized in the industry.
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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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