Bank Innovation
JUNE 30, 2017
Turns out, banking apps are higher up in consumers’ smartphones than photo or video apps. A study by Forrester Research, released this week, indicates that 32% of U.S. adults (18 and over) use banking apps via their smartphones weekly. The same number of respondents indicated using shopping apps weekly, while 30% and 23% said they […].
Chris Skinner
JUNE 30, 2017
I was chatting with a friend about what he’s up to these days. He started talking earnestly about looking up his family ancestry. With the internet these days, you can quickly find your grandparents, great grandparents, great-great grandparents and even your birth mother. He had traced some parts of his lineage to the 1600s in just a month of research, and had hooked up with a distant cousin thrice-removed who was helping him track down the missing links.
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Bank Innovation
JUNE 30, 2017
Investing in bitcoin is easy. Buying a tank of gas with bitcoin…uh. That’s more of a challenge, according to this Utah County couple who tried paying for life’s necessities only in bitcoin. The couple — Becky and Austin, whose experiment with the cryptocurrency is documented in the film Life on Bitcoin, released yesterday by entertainment […].
Abrigo
JUNE 30, 2017
While the Big 4 firms often receive the majority of coverage and attention in the accounting industry, they are far from representative of the average firm in the U.S. In fact, 90% of all accounting firms have 10 or fewer collective partners or owners ( AFOT ). By 2024, sector growth of 11 percent is expected - this forecast should provide confidence for you and especially your clients.
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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
JUNE 30, 2017
Millennials out there are often caught between two big decisions: do they buy a home, or do they keep buying sweet, delicious avocado toast? Luckily for the potential millennial homebuyer, fintech lender SoFi has found a way to merge these two completely exclusive purchases: a SoFi mortgage now comes with avocado toast. Seriously—for the entire […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JUNE 30, 2017
When TransferWise first launched, CEO Kristo Käärmann did not expect a favorable response from incumbents, which still charge consumers considerably higher fees for cross-border transfers, compared to TransferWise’s 0.5% rate (in the U.K., on average). But the opposite trend began happening. “We learned overtime that banks have an incredibly high cost-base to do the same […].
Chris Skinner
JUNE 30, 2017
Things we’re reading today include … 20 years on FCA links up with US regulators in car loans probe UK remains Europe’s top destination for foreign investment in financial services Haldane: UK pay has flatlined Bitcoin accepted at New York pre-school The complicated failure of two Italian lenders Kenya launches the world’s first mobile-only sovereign bond America’s banks pass the Federal Reserve’s tests Developing countries rebel against the credit-rating agencies What Asia lea
Bank Innovation
JUNE 30, 2017
Daimler AG issued a €100 million ($114.2 million) promissory note using blockchain technology, which the Mercedes-Benz manufacturer says is a first step to testing faster and more secure financial transactions across the company. Bookmark.
PYMNTS
JUNE 30, 2017
MatrixCare, a technology provider with a targeted focus in the healthcare industry, is rolling out new data and analytics solutions for its clients. The company serves long-term, post-acute care (LTPAC) healthcare providers. On Thursday (June 29), the company announced the availability of two new solutions, MyAnalytics and MyData, available through the MatrixCare Analytics Suite of offerings, for this niche market.
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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
Let's Talk Payments
JUNE 30, 2017
MEDICI now! Startup Stories highlights the companies that are shaping the new financial technology industry. Keep an eye out each week for new stories! If you or someone you know.
PYMNTS
JUNE 30, 2017
A new report from Dun & Bradstreet and the Pepperdine Graziadio School of Business and Management finds the majority of small- and medium-sized enterprises in the U.S. are facing cash flow challenges. The survey, the Q2 PCA Index, released Thursday (June 29), found 66 percent of U.S. SMEs say they have faced working capital challenges in the last three months, the highest rate the surveyors have seen in five years.
Let's Talk Payments
JUNE 30, 2017
One of the main accelerators in Latin America, with partners such as Google, IBM, and Visa, Startup Farm has more than 250 startups in its portfolio that together add up.
PYMNTS
JUNE 30, 2017
QuickBooks Online touts itself as a leader in SME accounting. Last year, Intuit announced that QuickBooks Online surpassed the 1.5 million user mark — not just a sign of corporate growth, the company said, but also an indication of how small businesses are adopting the cloud and other digital solutions. But there’s a catch: While small businesses can manage their finances digitally in QuickBooks Online, they couldn’t, until recently, make electronic payments within the platform.
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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.
NCR
JUNE 30, 2017
It’s a special time for the ATM industry right now, as this week marks the 50th anniversary of the world’s first-ever commercial ATM going into operation. Times have changed a lot since the first-ever device was installed at a branch of Barclays in the London district of Enfield on June 27th 1967, but one thing that’s remained constant is that people need quick and easy access to cash wherever they are.
PYMNTS
JUNE 30, 2017
Sage’s accounting chat bot is expanding. The company said this week that its AI-powered chat bot, Pegg, will be available to companies in Canada next month, about a year after Sage first rolled out the solution. Reports in IT World Canada said Sage CEO Stephen Kelly announced the news during his keynote at the Sage Summit event this week. “What’s the entrepreneur’s least-favorite thing to do?
BankNXT
JUNE 30, 2017
Phil Siarri speaks to Alberto Gómez, co-founder and chief content officer of Monee, a new Colombia-based money management platform. Alberto Gómez from Monee on helping financial literacy on BankNXT.
PYMNTS
JUNE 30, 2017
Cybercrime isn’t always about stealing credit card data. In the digital world, there’s strength in numbers, and a botnet — essentially, an army of IP addresses — can turn a pretty penny on the darknet. That’s why hackers are targeting Linux systems, and consumers don’t even know they’re using them. While few computer users opt for a Linux operating system, almost every consumer has an Internet of Things (IoT)-enabled device (or 10) that runs on it, from webcams and DVRs in the home to point-of-s
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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
JUNE 30, 2017
Real-time payment processing is drawing more attention to tangible use cases, such as helping workers pay bills that are due before they receive their salary.
PYMNTS
JUNE 30, 2017
Loyalty programs are nothing new to retail. From collecting pieces for McDonald’s Monopoly to collecting stamps for free cookware at grocery stores and buying 10 coffee drinks to get a free cup, there is no shortage of enticing loyalty offerings. With eCommerce providing easier ways for retailers to form loyalty programs via smartphone apps or through their company websites, loyalty programs are on the rise.
Payments Source
JUNE 30, 2017
Wearables are a clear evolution of the mobile wallet, but companies are still experimenting with use cases. Here are a few of the latest concepts.
PYMNTS
JUNE 30, 2017
A Florida man was sentenced to 5 1/2 years in prison for helping criminals process millions of dollars in illegal bitcoin transactions. According to AP News , Anthony Murgio of Tampa pleaded guilty earlier this year to conspiracy charges for enticing friends and family members to help him operate an illegal money exchange business. Murgio, his father and another man admitted to operating a fake Florida-based business called the Collectables Club, which allowed criminals to buy bitcoins to laund
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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
JUNE 30, 2017
Square has long been considered at the vanguard of digital payment innovation, so it may be a little unexpected to see the company take a step backward into physical card issuance.
PYMNTS
JUNE 30, 2017
Ford Motor, the car manufacturer, has created a new robotics and AI research team that will be housed under Ford’s Research and Advanced Engineering department. According to a news report in TechCrunch , Dr. Ken Washington, Ford’s VP of research and engineering and CTO, disclosed the new unit in a Medium post in which he talked up the impact AI and robots will have during the next 10 years.
Jeff For Banks
JUNE 30, 2017
Let me start with the author's ending: " In order to repair the system, we need a shared understanding that access to good financial services is a right, not a privilege for the fortunate few. We need to demand financial justice. " That is how the book ended. If I read it first, I probably would have returned it to the shelf. But no, I made the commitment to read it when recommended by a colleague, and it was quickly on my Kindle.
PYMNTS
JUNE 30, 2017
Voice-activated technology has been growing in adoption, with the Amazon Echo and Google Home both seeing an increase in units sold of 39 percent year-over-year. That’s according to an analyst by ADI, which was covered by CMO. “This indicates that devices sales are performing well but have not yet become a standard household purchase,” Trevor Jones, an analyst at ADI, said in the report.
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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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