Chris Skinner
APRIL 9, 2019
Another key theme of the weekend conference was Brexit, best summed up by one panellist as a decision made by a confused population about an issue their politicians can’t agree with, don’t want to implement and has no support. As a result, Theresa May is trying to keep the Conservative Party … The post Want a decent analysis of #Brexit from an EU view?
Payments Dive
APRIL 9, 2019
Envel uses artificial intelligence and machine learning to help young adults control their spending, manage their expenses and save for a rainy day in a way that traditional banks can't or won't for this segment of the market.
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Chris Skinner
APRIL 9, 2019
Things we’re reading today include … China wants to ban bitcoin mining Alibaba shares lose some shine for short sellers Wall Street bull run hinges on earnings Morgan Stanley to become top shareholder in China funds venture with stake increase Standard Chartered fined $1.1bn for money-laundering and sanctions breaches The … The post Things worth reading: 10th April 2019 appeared first on Chris Skinner's blog.
PYMNTS
APRIL 9, 2019
Security researchers at Kaspersky Lab revealed at the Kaspersky Security Analyst Summit in Singapore that a dark net marketplace in which hackers are selling digital fingerprints has emerged. According to a report in ZDNet , Kaspersky Lab said at the summit criminals are selling the digital fingerprints of more than 60,000 individuals. Dubbed Genesis, the marketplace emerged in the fall of last year when the creators started advertising it on forums where hackers sell payment card details they’v
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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
APRIL 9, 2019
The speed at which financial institutions are expected to meet changing customer demands drove Chicago-based fintech Amount and TD Bank into a strategic partnership that will have the bank using Amount's platform to make personal loans. In addition to smoothing out the customer journey by using Amount, the fintech will also allow the bank to […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
APRIL 9, 2019
Apple Inc. launched a credit card last month, hoping to upend a $175 billion industry much like it did the phone business. At a splashy event, the company made a simple sales pitch and showed off the titanium product in a slick video. Chief Executive Officer Tim Cook called it the "most significant change" to […].
PYMNTS
APRIL 9, 2019
It’s hard to find fault with one of the latest tests of artificial intelligence (AI). Medical diagnostic technology built by Google and a sister company can detect diabetic retinopathy — an eye condition that can cause blindness — with as much accuracy as a human doctor. That matters in places such as India, where the AI tech has been deployed, and where a relatively tiny group of eye doctors struggle to serve a massive population.
Bobsguide
APRIL 9, 2019
Internal audits and endpoint security systems won’t protect banks against increasingly dangerous and numerous cyber terrorists, say security experts. “These international crime syndicates operate in the same way any business does,” said Caroline Paddle, director at Skybox.
PYMNTS
APRIL 9, 2019
The rise of fast-acting payment solutions is changing the way businesses and governments issue payments to consumers and citizens. Demand for instant payments is also increasing in the workforce, and has the potential to change how workers view concepts like payday. The new Disbursements Tracker highlights recent efforts by businesses, banks and government agencies to improve payment practices by delivering on consumers’ speedy expectations, and how th e rise of peer-to-peer (P2P) services like
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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
Payments Source
APRIL 9, 2019
Mastercard has joined forces with Microsoft, Workday and the nonprofit Partnership for Public Service to recruit younger prospects to work with the CIA, the FBI, the DoD and the EPA battling global cyberattacks.
PYMNTS
APRIL 9, 2019
China could move to ban mining for bitcoins if a draft list of activities the country’s state planner wants to ban becomes law. According to a report in Reuters , citing China’s state planner, the National Development and Reform Commission, the agency is facing mounting pressure from the government to control the cryptocurrency market and as a result, may move to ban bitcoin mining.
Payments Source
APRIL 9, 2019
Contactless transit fare systems are drawing lots of investment despite several false starts in the U.S. But new numbers out of London show there are clear and multiple benefits if the infrastructure can catch up.
PYMNTS
APRIL 9, 2019
Payments messaging company SWIFT is gearing up to close its Trade Services Utility (TSU), a workflow engine aimed at facilitating value-added supply chain services. Reports in Global Trade Review (GTR) on Monday (April 8) said SWIFT will switch off its TSU in December 2020. “TSU has been a very niche success, and important for banks and corporates using it.
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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.
ATM Marketplace
APRIL 9, 2019
According to research firm McKinsey, the cost of cash — which represents 5–10% of a bank's overall operating cost — is rising, even as the use of cash is declining. According to Chris Chandler, CEO at Toronto-based Access Cash General Partnership, this means that "it's time to rethink how we manage the cost of cash" in the ATM business.
PYMNTS
APRIL 9, 2019
Square , the payments provider, announced Tuesday (April 9) the launch of the Square Online store for U.K. sellers. In a press release , Square said the Square Online Store provides small and medium sized enterprises with one solution for their omnichannel or online-only business. It marks the first of Square’s products in the U.K. to be integrated completely with Weebly, the platform for building a website or online store.
Bobsguide
APRIL 9, 2019
A number of large conglomerates with exposures in European commodity derivatives are still relying on manual processes such as Excel to collate data and comply with the second Markets in Financial Instruments Directive (Mifid II), according to lawyers. “Some of our clients have had to do it.
PYMNTS
APRIL 9, 2019
Mobile point-of-sale (mPOS) providers are catering to the needs of small and medium-sized businesses (SMBs) as the use of contactless payments heats up around the world. Last week, the jobs report beat analyst expectations and demonstrated a solid rebound from an unusually weak February. In hospitality, instant staffing platform Jitjatjo is tackling chronic churn in the industry.
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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.
Payments Source
APRIL 9, 2019
A Cleveland startup’s play in the crowded and noisy P2P market is to nudge the transaction as close to digital version of paper money as possible — without Venmo’s social tools or Zelle’s email model.
PYMNTS
APRIL 9, 2019
Small to medium-size businesses (SMBs) drive the sales of more than half of all units sold on Amazon, and today (April 9), the eCommerce giant announced that it has launched 50 new tools and services since the start of the year to help them more of them sell even more. Amazon, in the announcement released today, said that it “spends billions” on tools and services to help SMBs grow their operations and sell more online.
Payments Source
APRIL 9, 2019
Cryptocurrencies will come and go but blockchain will flourish, because it has game-changing use cases that will fundamentally improve the way financial transactions get done, according to Vinay Pai, senior vice president of engineering at Bill.com.
PYMNTS
APRIL 9, 2019
While use of trade finance continues to climb, the International Chamber of Commerce ‘s Banking Commission has warned the financial services market that small and medium-sized business (SMB) access to trade finance is disproportionately low, as large financial institutions (FIs) pull back from the SMB borrower segment. Despite the recent surge in alternative finance and FinTech solutions, designed to tackle the gap, the Asian Development Bank — which has pegged the global trade finance gap
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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.
Payments Source
APRIL 9, 2019
China signaled its intent to ban cryptocurrency mining, dealing a fresh blow to an industry buffeted by tumbling virtual currency prices, stiff competition and waning investor interest.
PYMNTS
APRIL 9, 2019
eCommerce innovators are offering plant-based nutrition beverages designed for baby boomers and their parents with the help of the subscription business model. Take Perennial , which Co-founder and Co-CEO Sara Bonham described to PYMNTS as a progressive health company that is creating foods and beverages for consumers age 50 and older “by leveraging the endless kind of power of plant-based input.”.
Payments Source
APRIL 9, 2019
Cash is expensive, overseas cards may be illegal and cryptocurrency is unreliable, argues David Ehrlich, COO and co-founder of Zodaka, who says e-wallets are an answer.
PYMNTS
APRIL 9, 2019
Retail innovation labs – incubators or tech hubs – aren’t confined to operations run by the likes of Amazon or Walmart. A new lab store from 7-Eleven underscores the innovation wave that is taking place in the convenience store sector of retail – a sector ripe for change, disruption and growth. Located in Dallas, the 7-Eleven lab store is designed so that customers can test and purchase the newest innovations from the retailer.
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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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