Bank Innovation

APRIL 29, 2019

BNY Mellon's three key financial technology executives added last month were given the directive to pursue investments and fintech partnerships in natural language processing, rule-based automation systems and robotic process automation (RPA), Bank Innovation has learned. The initiatives had previously not been disclosed. Earlier this month, BNY Mellon filled three executive positions: Digital Business Development […].

Technology 199

Technology Financial Technology Innovation Fintech 199

PYMNTS

APRIL 29, 2019

Along with digital transformation, innovation has been a buzzword for some time. These may seem like abstract concepts, but innovation has had concrete results in the financial industry. For example, in the newly released J.D. Power 2019 U.S. Retail Banking Satisfaction Study , retail banking was declared to have bounced back reputation-wise over the past decade, due to improvements in customer service spurred by innovations like mobile banking.

Fintech 193

Fintech Innovation Community Bank Study 193

Bank Innovation

APRIL 29, 2019

Hong Kong’s banking sector, one of the most staid areas of its financial industry, is seeing an unusual spurt of recruitment as newly licensed virtual banks race to snap up talent. Four ventures that won permits have about 200 people in the city, which may more than double by the time they start operating, said […].

Operations 170

Operations Industry Security Retail 170

PYMNTS

APRIL 29, 2019

The We Company, formally known as WeWork, has confidentially filed for an IPO, the company announced on Monday (April 29). “(The company) announced that it has confidentially submitted an amended draft registration statement on Form S-1 with the Securities and Exchange Commission (‘SEC’) relating to an initial public offering of its common stock.

Company 184

Company Security Examples Marketing 184

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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

Lending

Bobsguide

APRIL 29, 2019

Commercial and business banking clients often have a harder time opening a bank account than the average retail client, mainly due to the complex, siloed legacy technology that makes up most banks’ back, middle and front office operations. Banks share the frustration of difficult and lengthy.

Maine 139

Maine Retail Operations Technology 139

Payments Source

APRIL 29, 2019

Digital payments can make payroll for workers in industries like cruise ships less costly, and less dangerous than traditional cash-based methods, writes Hal Ramakers, vice president of global solutions for Brightwell.

Fintech 119

Fintech Industry Payments 119

PYMNTS

APRIL 29, 2019

With first-quarter earnings reports rolling out, it’s time to take a look at the state of small businesses and how they fared for the first three months of 2019. With Standish Mellon Chief Economist Vincent Reinhart expecting the U.S.’ Q1 GDP report to be the best of the year , there is room for optimism among entrepreneurs and SMBs, though one threat was particularly high for the quarter: cyberattacks.

Lending 168

Lending Michigan Community National 168

Payments Source

APRIL 29, 2019

The lumbering pace of product development is one of the typical drags on large bank technology firms, while nimble startups can seemingly launch new offerings overnight.

Data 113

Data Technology Big Data 113

PYMNTS

APRIL 29, 2019

Jaguar Land Rover , the U.K. vehicle maker, announced Monday (April 29) that drivers will be able to earn cryptocurrency and make payments in-vehicle using car services the company is currently testing. In a press release , Jaguar Land Rover said using smart wallet technology car owners earn credits by enabling their cars to report useful road condition data, including traffic congestion and potholes, to navigation providers and/or local authorities.

cryptocurrency 163

cryptocurrency Software Technology Payments 163

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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

Report

Bobsguide

APRIL 29, 2019

Security and convenience are the twin pillars of retail banking, as banks seek to find the golden compromise between secure yet easy access for customers. And as banks face increasingly more hostile fraud environments and more stringent protective regulations, they must find a solution and fast.

Security 102

Security Fraud Regulation Retail 102

PYMNTS

APRIL 29, 2019

Amazon announced last week that it would spend $800 million to make one-day shipping the default for Prime members. Much of the coverage was about the hit to Q2 profits from the additional investments in logistics, warehousing and inventory management required to cut the current default shipping option in half. Yet, there’s an insight here that goes well beyond the number of dollars Amazon will invest, and how well the company may manage investor and analyst expectations in light of revised Q2 g

Online 162

Online Retail Study Cards 162

Bobsguide

APRIL 29, 2019

If you've done much traveling in your life, this scenario is probably all too familiar. You crawl out of bed in the middle of the night to get to the airport three hours before your flight's scheduled departure time (recommended). You wait outside for your cab, which is late, and try to stay.

Payments 96

Payments 96

PYMNTS

APRIL 29, 2019

It can never be said that Disney didn’t have big goals for the “Avengers,” or that it is even at all surprising that they did. Prior to the release of “Avengers: Endgame,” the house a mouse built was batting 21-0 on astronomically successful superhero movies. And the previous recordholder for domestic box-office openings was the preceding installment in the series, “Avengers: Infinity War,” which opened last year to $257.6 million.

Operations 161

Operations United States Meeting Retail 161

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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.

Lending

Payments Source

APRIL 29, 2019

Paytronix has spent the last few years developing a streamlined enrollment process for restaurants’ loyalty programs, but it relies on something relatively few consumers use: Apple Pay and Google Pay at the point of sale.

Google 76

Google Apple 76

PYMNTS

APRIL 29, 2019

The European Commission announced Monday (April 29) that commitments made by Mastercard and Visa to reduce interchange fees are legally binding under European Union antitrust rules. According to a press release , the European Commission said the commitments will “significantly” reduce their multilateral interchange fees for payments in the European Economic Area (EEA) with cards issued to consumers elsewhere.

Regional 161

Regional Retail Cards Policies 161

Payments Source

APRIL 29, 2019

Visa Inc. and Mastercard Inc. ended nearly two decades of European Union antitrust scrutiny with a pact that requires them to reduce fees for foreigners shopping in the region.

Regional 68

Regional Cards Compliance 68

PYMNTS

APRIL 29, 2019

Those history teachers were right after all — to better understand the future, one must first understand the past. In the particular case of convenience store (C-store) commerce, a section of retail poised to become a vital part of the emerging connected vehicle ecosystem, that means taking a journey back several decades, during the mid-century peak of carhop culture.

Mobile 152

Mobile Maine Trends Retail 152

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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.

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CFPB Monitor

APRIL 29, 2019

The CFPB has announced that it will hold a Town Hall to take place in Philadelphia, Pennsylvania beginning at Noon on May 8, 2019. The event will feature remarks from Director Kraninger as well as comments from community groups, industry representatives, and members of the public. Although the CFPB did not indicate the purpose of the Town Hall, I strongly believe that the CFPB will use the occasion to issue its Notice of Proposed Rulemaking (the “NPRM”) regarding third-party debt col

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Philadelphia Pennsylvania Policies Community 68

PYMNTS

APRIL 29, 2019

By the numbers, Americans are not a very financially literate people. According to a Standard & Poor’s Global Financial Literacy survey only about 57 percent of the adult population is financially literate, and only about one out of three can answer simple questions about inflation, compounding interest or investment diversification. Part of the problem, Affirm CEO and founder Max Levchin told Karen Webster in a recent conversation, is just basic financial education and the fact that many A

Examples 129

Examples Cards Comparison Regulation 129

Bobsguide

APRIL 29, 2019

Security and convenience are the twin pillars of retail banking, as banks seek to find the golden compromise between secure yet easy access for customers. And as banks face increasingly more hostile fraud environments and more stringent protective regulations, they must find a solution and fast.

Security 68

Security Fraud Regulation Retail 68

PYMNTS

APRIL 29, 2019

Governments are betting on blockchain to power tourism in cities. China, for instance, has a plan to turn 835 acres off the shores of Malacca, Malaysia into a city built off the technology. The city’s infrastructure will be constructed reportedly through the help of blockchain, with a DMI platform and a DMI coin that will allow for payments of government services.

blockchain 128

blockchain Nevada Course New York 128

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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.

Compliance

Matt Wilcox Pro

APRIL 29, 2019

Ah, spin. When advertising agencies called on me in my prior job, I admired their ability to spin opposite traits as advantageous. For instance, larger agencies claimed they could better service our account because they had the needed internal resources. Smaller ones claimed they could better service our account because they were leaner, nimbler, and hungrier.

Mobile 68

Mobile Resources 68

PYMNTS

APRIL 29, 2019

Travel payments optimization company Ixaris announced a new partnership with financial service infrastructure company Banking Circle to streamline cross-border payments for the travel industry. In a press release on Friday (April 26), Ixaris said it will deploy Banking Circle’s Virtual International Bank Account Number (IBAN) technology into its existing payments offerings for the travel industry, negating the need for corporate clients of Ixaris to have physical bank accounts in the vario

Payments 128

Payments Industry Groups Innovation 128

CFPB Monitor

APRIL 29, 2019

This week, two House Financial Services Subcommittees will hold hearings. Tomorrow afternoon at 2:00PM ET, the Consumer Protection and Financial Institutions Subcommittee will convene a hearing entitled, “Ending the Debt Traps in the Payday and Small Dollar Credit Industry.”. On Wednesday, May 1 at 10:00AM ET, the Oversight and Investigations subcommittee will convene a hearing entitled, “Examining Discrimination in the Automobile Lending and Insurance Industries.”.

Lending 68

Lending Industry 68

PYMNTS

APRIL 29, 2019

Bessemer System Federal Credit Union, a financial organization in Pennsylvania, is suing financial technology company Fiserv Solutions over what it calls rampant billing errors, significant bugs and “baffling” security lapses, according to reports. The lawsuit was filed on April 26, and the credit union said that its web platform, which is maintained by Fiserv, is “plagued with security vulnerabilities that affect the privacy of thousands of Bessemer’s members.”.

Security 128

Security Pennsylvania System Financial Technology 128

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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.

Lending