Chris Skinner
DECEMBER 13, 2018
I just gave a presentation on blockchain. I haven’t been asked to make a specific presentation on blockchain for over a year, so it meant dusting off some rusty notes and slides and thinking about where we are today. I know that last year, I spent most of the year … The post Are you pulling my blockchain? appeared first on Chris Skinner's blog.
Payments Dive
DECEMBER 13, 2018
The global slowdown in mobile device sales is not considered a direct factor in the relatively tepid adoption of contactless payments in the U.S., according to industry analysts.
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Bank Innovation
DECEMBER 13, 2018
As a part of its retail transformation strategy, HSBC Bank USA spent over $130 million on innovation projects in one year on its U.S. operations. These projects range from less visible, but equally important, system upgrades on the back-end and more visible ones like installing Softbank’s robot Pepper in its New York flagship. The bank […].
Chris Skinner
DECEMBER 13, 2018
Things we’re reading today include … UK-based fintech startup Revolut receives European banking licence Deutsche Bank shares surge on report Germany plans to fix bank’s problems with merger Raining banknotes shut down German motorway ECB to halt €2.6tn stimulus plan despite eurozone slowdown concerns Man who stood in line to … The post Things worth reading: 14th December 2018 appeared first on Chris Skinner's blog.
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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
DECEMBER 13, 2018
Banking software provider Temenos announced Wednesday it will acquire Avoka, a Colorado-based firm focused on digital customer acquisition and onboarding, for $245 million. The acquisition, subject to regulatory approval, would bolster Temenos’s Digital Front Office product, which the company says has over 300 banking clients. The Switzerland-based company would also gain considerably more visibility in the […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
DECEMBER 13, 2018
Mobile payments technology has fallen short of expectations in major markets, particularly the U.S., where less than 10 percent of consumers routinely use devices to pay in stores — despite more than four years of aggressive development from large technology companies and banks.
PYMNTS
DECEMBER 13, 2018
Bank technology firm Temenos has struck a deal to acquire banking services and on-boarding firm Avoka in one of the largest exits for an Australian FinTech, reports in the Australian Financial Review said Wednesday (Dec. 12). Switzerland-based Temenos will acquire Australia-based Avoka for $245 million, reports said, following Temenos’ acquisition for Australia’s Rubik Financial last year.
Bobsguide
DECEMBER 13, 2018
Ethereum could experience an influx of institutional money, says Kevin Murcko, CEO of Coin Metro, following a request for public comment on the cryptocurrency from the Commodity Futures Trading Commission (CFTC).
PYMNTS
DECEMBER 13, 2018
Western Union has teamed up with TerraPay, a B2B mobile payments company, to enable bank account and mobile wallet payouts, according to the company. The partnership will expand Western Union’s account payout network and allow customers in Europe, Africa, Latin America and Asia to send remittance payments directly to customers’ mobile wallets. TerraPay’s low-value payments network enables customers to send and receive transactions across many different payment instruments and systems, which allo
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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
Jeff For Banks
DECEMBER 13, 2018
For the past seven years I searched for the Top 5 financial institutions in five-year total return to shareholders because I promote long-term strategic decision making that may not benefit next quarter's or next year's earnings release. And I am weary of the persistent "get big or get out" mentality of many bankers and industry pundits. If their platitudes about scale are correct, then the largest FIs should logically demonstrate better shareholder returns.
PYMNTS
DECEMBER 13, 2018
As the corporate treasurer takes on a more strategic role in the enterprise, treasury and cash management technologies can often be stuck in the past, failing to keep up with financial execs’ needs. The problem can be traced back to data: as organizations scale, either through organic growth or M&A, they’re taking on more financial management platforms and opening more bank accounts, leading to fragmented storage of financial data.
Bobsguide
DECEMBER 13, 2018
The UK’s Open Banking regulators have failed to hold banks accountable to the Open Banking initiative, says Shefali Roy, chief compliance officer of TrueLayer and former CCO at Stripe. "Like human beings, when you are forced to do something, you really don't want to do it. They.
PYMNTS
DECEMBER 13, 2018
Foreign exchange (FX) volatility can be detrimental to businesses with heavy reliance on cross-border operations. Trade tensions between the U.S. and China, as well as Brexit , are among the biggest current geopolitical events that continue to rock the FX market, and companies are at risk of taking significant financial hits as a result. Nearly half of companies surveyed by Western Union for its UK FX Barometer said they are “worried or very worried” about FX risk mitigation and hedg
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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.
Payments Source
DECEMBER 13, 2018
Amazon and Shopify will likely improve and expand the “last mile” for e-commerce orders, putting the heat on UPS and FedEx, according to Radu Spineanu, co-founder and CEO of Two Tap.
PYMNTS
DECEMBER 13, 2018
General Electric will establish a new independent Internet of Things (IoT) company from the GE Digital business and several of its technologies, according to the company. The new company will start with $1.2 billion in yearly software revenue and an established global customer base. It is intended to be a wholly GE -owned, independently run business, but with a new brand and identity.
Payments Source
DECEMBER 13, 2018
Traditional compliance data handling tools and procedures are mostly not efficient enough to handle the mounting data in the right way, which makes the analysis extremely difficult, writes Srinivasan Pandurangan is senior manager of business consulting at Virtusa.
PYMNTS
DECEMBER 13, 2018
A new report has found that Lyft is growing twice as fast as its chief rival Uber. While both companies grew their revenue since last year, according to Second Measure , Lyft’s grew 32 percent — two times faster than Uber. As of October, Uber and Lyft together owned almost 98 percent of the U.S. consumer ridesharing market. Uber held 69.2 percent (3 percentage points lower than the previous year), while Lyft held 28.4 percent (3 percentage points higher than last year). “Lyft is strongest
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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
DECEMBER 13, 2018
Working with technology developer Next Retail Concepts, Mastercard has connected to a virtual version of Los Angeles boutique retailer Fred Segal, where users may virtually pick merchandise on the shelves of the iconic store in West Hollywood, explore it from various angles, and make purchases with a discount for using Mastercard.
PYMNTS
DECEMBER 13, 2018
Robinhood, the mobile investment app company, announced Thursday (Dec. 13) that it has launched Robinhood Checking & Savings, a new feature aimed at expanding its mission to overhaul the financial system in America. In a blog post , Robinhood said its checking and savings product is a departure from traditional accounts that cost more for people who make less money and have unfair and hidden fees associated with them. “We believe you should earn more on your money, and shouldn’t be cha
Bobsguide
DECEMBER 13, 2018
In the ever more open and competitive banking market, customer service is paramount. Once a bastion of customer service, bank branches are closing in their hundreds as they serve too few customers at too great a cost. Many challenger banks have opted for the digital only root, championing a.
PYMNTS
DECEMBER 13, 2018
Revolut, the U.K. digital bank, announced Thursday (Dec. 13) that it received approval for a banking license in Europe by the European Central Bank. In a blog post , the company, calling it a “huge milestone” said the license will help Revolut meet its goal of building an account that people can use to manage all aspects of their finances.
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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
DECEMBER 13, 2018
Cloud-based point of sale company ShopKeep is in a fierce fintech battle to woo tech hungry restaurants, and has closed a $65 million round of equity and debt financing to bulk up technology and broaden its geographic footprint.
PYMNTS
DECEMBER 13, 2018
Ingo Money, the instant money company, announced Thursday (Dec. 13) the rollout of Ingo Money QuickConnect, which is a service that lets any company issuing money to customers to offer push-to-card payments via Visa Direct. In a press release , Ingo Money said the product is aimed at helping merchants, corporations and banks speed up the deployment of Vista Direct.
Payments Source
DECEMBER 13, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon Go tries smaller stores; CULedger joins R3; YayPay draws funds; German cryptobank debuts.
PYMNTS
DECEMBER 13, 2018
Communication and engagement with members is an essential part of any credit unions’ (CUs’) retention strategy. Recently, though, many CUs have turned to technology-driven solutions to help members more efficiently communicate their needs and feedback. However, their members are not the only ones with whom credit unions must regularly work. CUs are also actively communicating with law enforcement agencies, keeping regulators informed about suspicious activity, while receiving tips on noticeable
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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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