PYMNTS
FEBRUARY 13, 2019
Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. Merchants who have upgraded to chip technology saw a decrease of 80 percent in counterfeit fraud dollars in September of 2018 when compared to September of 2015. Also, total counterfeit fraud dollars went down by 48 percent.
Bank Innovation
FEBRUARY 13, 2019
IBM today announced a five-year, $700 million agreement it reached with Banco Santander that will enable the Madrid, Spain-based bank to “accelerate and deepen” its digital transformation to a more open, flexible institution. This means Santander is poised to tap into IBM's AI, blockchain and big data offerings. For instance, the bank will use IBM […].
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PYMNTS
FEBRUARY 13, 2019
Token.io , the Turkey-based open banking platform company, announced Wednesday (February 13) Mastercard has chosen it to provide the connectivity layer for the payment company’s open banking hub. In a press release, Token said the hub connects merchants and retailers to financial firms in Europe so that they can access data and conduct payment transactions.
Bank Innovation
FEBRUARY 13, 2019
Rapyd, a fintech-as-a-service platform through which businesses and consumers can pay or be paid as they choose for local and cross-border e-commerce, wants to be the Amazon AWS for financial services. The London-based startup announced today the closing of a $40 million Series B funding round led by payments giant Stripe and VC firm General […].
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
PYMNTS
FEBRUARY 13, 2019
FinTech innovation has opened the floodgates for thousands of enterprise apps from which companies can choose. One of the most attractive characteristics of the enterprise app space is that out-of-the-box solutions can save on research and development costs, with companies rolling out enhanced onboarding and integration capabilities to limit disruption.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
FEBRUARY 13, 2019
Kroger , one of America’s largest supermarket chains, is introducing a new mobile payment option and a loyalty rewards card, according to reports. The mobile payment option, called Kroger Pay, is available in any Kroger apps for both Android and iOS. At the terminal, shoppers can either use biometrics, enter a custom code or take advantage of the app’s QR code functionality to provide payment and loyalty card info.
Bank Innovation
FEBRUARY 13, 2019
Institutional money should start to flow into cryptocurrencies within the next year, setting the stage for a rally, according to Galaxy Digital Holdings Ltd. founder Mike Novogratz. “All the architecture that institutions need to feel comfortable with this is being put in place,” Novogratz said in an interview on Bloomberg Television. “You’re going to start […].
PYMNTS
FEBRUARY 13, 2019
QuadrigaCX, the Canadian crypto exchange that previously lost $250 million CAD worth of cryptocurrencies and fiat, has reportedly lost an additional $500,000 CAD. According to a report in CoinDesk , citing a report from Ernst and Young, the court-appointed monitor of QuadrigaCX, the crypto exchange mistakenly moved more than 100 bitcoins into a cold storage wallet that they aren’t able to access.
Insights on Business
FEBRUARY 13, 2019
Banks continue their digital transformation journey to create new business models to satisfy today’s demanding customers. The big questions is what’s next? How do banks prepare for this new reality? For Bradesco, a large Brazilian bank, NEXT is the answer. Next is a digital bank, completely disassociated from the Bradesco brand. Next has access to all of Bradesco’s ecosystem, ATMs, call center, internet banking.
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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
FEBRUARY 13, 2019
Western Union has rolled out a new payment option that will let international Amazon.com customers pay in their respective country’s currency, the company announced in a press release. The service is being offered in 10 countries, including Chile, Peru, Colombia, Hong Kong, Thailand, Taiwan, Philippines, Malaysia, Kenya and Indonesia. The Western Union service works in conjunction with Amazon’s cross-border payment option, Amazon PayCode.
Insights on Business
FEBRUARY 13, 2019
Gary Meshell, WW Leader Financial Services, IBM Security, opened his IBM Think 2019 talk, How Financial Services Companies Should Respond to Cyber Security Attacks with a bold assertion and truism. “It’s not a matter of if you will be breached, but just a matter of when,” he said. Fin ancial services firms must do more than just plan to prevent a data breach but knowing they will get breached, prepare to respond. “If you think you’re prepared for a cybersecurity attack, you’re not,”
PYMNTS
FEBRUARY 13, 2019
Payments messaging firm SWIFT announced on Tuesday (Feb. 12) that it will now allow corporates to join its KYC Registry in an effort to facilitate the sharing of data between companies and their banks. The move targets one of the largest pain points of Know Your Customer (KYC) compliance for businesses and their financial institutions (FIs): the complexity linked to corporations that use multiple banks across multiple jurisdictions.
Bobsguide
FEBRUARY 13, 2019
Some non-financial counterparties (NFCs) are unaware of impending reporting obligations under the Securities Financing Transactions Regulation (SFTR), according to market participants. “Financial firms really need to be reaching out to their non-financial counterparties to help educate.
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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
FEBRUARY 13, 2019
The Colorado Department of Revenue has revealed that the state’s regulated marijuana industry sales have topped $6 billion since sales began in 2014. In addition, taxes generated by the industry grew by nearly 8 percent last year. Last year, regulated marijuana sales in Colorado were nearly $1.55 billion, an increase of about 3 percent from just over $1.5 billion the previous year.
Payments Source
FEBRUARY 13, 2019
While consumer spending on Valentine’s Day doesn’t approach that of the larger holidays, certain retailers — such as jewelers and florists — benefit more than others; while restaurants, bars and other dining establishments tend to see significantly more traffic for those couples who want an evening out. Increasingly, it’s also a special day for pets.
PYMNTS
FEBRUARY 13, 2019
Gavin Newsom, the governor of California, wants consumers to benefit from the billions of dollars technology companies in the state made by forcing the tech companies to share their profits. According to a report in Fortune citing comments Newsom made during a State of the State speech Tuesday (February 12), Newsom talked up the idea of a so-called digital dividend that would enable the consumers in the state to access some of the profits these tech companies make off of them.
Payments Source
FEBRUARY 13, 2019
Stripe’s large and quickly expanding valuation enable it to forge connections among many sources of innovation, placing even more pressure on traditional technology providers and financial institutions.
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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
FEBRUARY 13, 2019
Ikea , the furniture retailer, is reportedly looking at launching an online site that sells its own products as well as furniture from competitors. According to a report in The Financial Times citing Torbjörn Lööf, chief executive of Inter Ikea , the retailer is finishing up the details of its third-party website, which will mark the first time the company has done something like this.
Bobsguide
FEBRUARY 13, 2019
Starling Bank’s Julian Sawyer, chief operating officer has announced that three new clients have signed up to its banking services. The three new sign ups are PelicanPay (of Pelican Group), which provides compliance solutions, Telleroo, bulk payment processors, and Vitesse, the.
PYMNTS
FEBRUARY 13, 2019
The movement to embrace blockchain — notably, among some tech giants — has gotten some momentum in recent days, with new announcements of projects going live. Oracle said on Tuesday (Feb. 12) that it has as many as a dozen enterprise clients using a cloud-based blockchain platform that went live in the summer of 2018. Amid the offerings, the platform helps users with development tools and data integration.
Insights on Business
FEBRUARY 13, 2019
The global financial crisis of 2008 and 2009 brought a renewed focus on the governance, risk and compliance (GRC) processes within the financial institutions, who, not very long ago, viewed GRC as little more than a necessary evil – cost of doing business, which added little value. In today’s rapidly changing business environment, managing responsiveness and the proliferation of regulations and IT systems, as well as rapidly expanding volumes and data variety, has become a high stakes balancing
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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.
PYMNTS
FEBRUARY 13, 2019
“What’s in a name? That which we call a rose by any other name would smell as sweet.” -William Shakespeare, Romeo & Juliet. A quick glance at the most famous lines written by Shakespeare for Romeo, in his most famous play, might lead one to conclude that the author and character both thought names were unimportant. However, that would be too quick of a glance and the wrong read — Romeo wasn’t arguing against the importance of names so much as he was bemoaning them.
Payments Source
FEBRUARY 13, 2019
Banks may soon have to account for the effect of payment and online banking outages on their customers' bottom lines, writes Iris Zarecki, vice president of marketing at Continuity Software.
PYMNTS
FEBRUARY 13, 2019
In the highly connected digital age, consumers are interacting with a multitude of social media sites as well as apps and connected devices. During this time, retailers and tech companies are bringing integrated shopping experiences into the sites and apps where consumers spend the most time. Retailers, then, can make the sale in the moment — with the help of contextual commerce.
Payments Source
FEBRUARY 13, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Walmart loses a delivery partner; Bill.com opens a new office; Jack Dorsey talks up bitcoin; Swiggy's big expansion.
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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.
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