Chris Skinner
SEPTEMBER 10, 2018
I enjoyed the LendIt conference in Shanghai, and wrote a few notes. In particular, I enjoyed hearing the story of XWBank as told by Jiang Hai, the Vice Chairman. His presentation was in Chinese but, from the simultaneous translation and slides, I picked up some interesting stats. To begin with, … The post Loans processing for just three cents per application (thank you coders!
Bank Innovation
SEPTEMBER 10, 2018
Digital check solution SnapCheck, a graduate of INV Fintech, this site’s sister accelerator, was named Best Payments API (application programming interface) by API:World, the largest global API conference. SnapCheck will receive the award during a special ceremony at the San Jose Convention Center tonight, Sept. 10. SnapCheck allows companies to transition from checks to realtime secure digital […].
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Chris Skinner
SEPTEMBER 10, 2018
Things we’re reading today include … New York regulator approves Winklevoss, Paxos dollar-linked tokens Clydesdale tipped to start buying spree after investors back £1.7bn Virgin Money takeover ING CFO Timmermans to step down after $900 million money laundering fine The post-crash principle for banks: be moral or bust | Zoe … The post Things worth reading: 11th September 2018 appeared first on Chris Skinner's blog.
Bank Innovation
SEPTEMBER 10, 2018
Competition and consolidation are heating up in the interbank blockchain space. Chain, a startup that raised more than $40 million from the likes of Fiserv and Citigroup, has been acquired by Lightyear.io, a company that works on the Stellar interbank blockchain, the companies announced today. Chain and Lightyear will combine to form a company called Interstellar. […].
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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
SEPTEMBER 10, 2018
Long before innovators began talking about the power of ecosystems to transform commerce, scientists spent centuries studying them under microscopes in their labs. Biologists wanted to better understand how to keep the human body’s ecosystems from being devastated by disease, so humans could live longer, healthier lives. Ecologists wanted to better understand the relationship between living things and their environment to improve the health of Mother Earth.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
SEPTEMBER 10, 2018
Amazon has announced plans to open an Amazon Go location in New York. Earlier this year, the eCommerce giant launched its first checkout-free convenience store market in Seattle. It recently opened two more locations in the city, which will make New York its first foray outside of Seattle. “We plan to open Amazon Go in New York,” an Amazon spokesperson said, according to Reuters , though it was not revealed when the company plans to open the location.
Bobsguide
SEPTEMBER 10, 2018
It seems a long time ago that QR (Quick-Response) codes were introduced to the world, appearing on everything from boarding passes to business cards. But they might just be coming into their own as a pan-European mobile payment solution, in a big way. In Asia’s emerging markets, consumer.
PYMNTS
SEPTEMBER 10, 2018
GDPR compliance has yet to be fully embraced by firms on a global scale, yet headlines from this past week show just what the repercussions might be against a new regulatory landscape. As noted late last week, a data breach at British Airways was revealed – one that affected more than 380,000 transactions done over the company’s website, and may be among the first test cases of GDPR’s reach and impact.
Bobsguide
SEPTEMBER 10, 2018
It has been more than six months since the go-live of MiFID II and for most executing firms transaction reporting has become part and parcel of their operational workflows. For those working on transaction reporting, 2018 will have been a mixture of successes and frustrations. In the first half.
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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
SEPTEMBER 10, 2018
For many businesses both large and small, payments received on a timely basis can give a boost to a business’ efforts to remain financially sound, hire new staff or move forward with expansion plans. Late payments, meanwhile, can damage relationships with business partners, banks and customers. It’s little wonder, then, that a growing group of companies are turning to APIs to help streamline the B2B payment process.
Payments Source
SEPTEMBER 10, 2018
For any emerging technology, skepticism is natural and blockchain will need to prove itself before it is widely adopted, writes David Hanson, Co-CEO of Ultra.
PYMNTS
SEPTEMBER 10, 2018
Crypto payments startup Wyre has acquired Hedgy, a venture-backed bitcoin smart contract development firm. While Wyre already provides cross-border payments using bitcoin, Ethereum, Litecoin and other cryptocurrencies, the deal enables it to expand its services to crypto startups, the company’s co-founder and COO Ioannis Giannaros told CoinDesk. With that in mind, Wyre will utilize Hedgy’s ability to “navigate” the regulatory space.
Payments Source
SEPTEMBER 10, 2018
Blockchains and other distributed ledgers are being applied to almost all businesses as a concept, but have had a tough time in ecosystems built on siloed data and complex technology.
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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
SEPTEMBER 10, 2018
The cryptocurrency market is continuing its descent with the market hitting a new ten-month low after the price of Ether declined and regulators in the U.S. halted trading in two securities that are tied to cryptocurrency. According to a report in Bloomberg Ether, which is the second biggest cryptocurrency behind Bitcoin, fell 8.9 percent at 5:00 p.m.
Payments Source
SEPTEMBER 10, 2018
While certainly connected in both concept and actuation, those with an interest in this burgeoning marketplace will be wise to note that both the risk and the regulatory landscape for existing cryptocurrencies differ from ICOs/tokens, according to Erin Fonte and Ferdose al-Taie, lawyers at Dykema.
PYMNTS
SEPTEMBER 10, 2018
Banking during the pre-digital days involved transport. One had to visit a branch — and remember, there is a reason people still joke about bankers’ hours — wait for an employee and fill out paperwork. But in a new PYMNTS interview , DataVisor CEO and Co-Founder Yinglian Xie told Karen Webster that digital technology has created convenient access to financial services for everyone, everywhere in the world.
Payments Source
SEPTEMBER 10, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon Go opens in New York; Paul Galant joins Softbank subsidiary; Visa adds disaster recovery feature; Russian hacking suspect extradited to New York; Vizeo TV may have to disclose spying on viewers.
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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.
PYMNTS
SEPTEMBER 10, 2018
Authenticating a transaction can be a widely varied experience. Call centers, particularly those dealing with financial transactions, have a strong need to be sure that the person on the other end of the line is actually their customer. The fact that most firms know that, and set up measures to properly authenticate those customers, is a good thing, said Chief Commercial Officer Dewald Nolte of Entersekt in a recent conversation with Karen Webster.
Payments Source
SEPTEMBER 10, 2018
Product diversification has boosted Revolut's valuation, and will make or break the company as it battles myriad competitors and a challenging geographic expansion.
PYMNTS
SEPTEMBER 10, 2018
Bet on it: More gambling is coming to consumers’ mobile devices, including via companies that provide fantasy sports betting, thanks to a U.S. Supreme Court decision from earlier this year. The latest development comes from fantasy sports betting site FanDuel. It has reportedly launched FanDuel Sportsbook , which offers online betting services for real sporting events — but only to consumers located in New Jersey, for now.
Payments Source
SEPTEMBER 10, 2018
Ring's smart doorbell was its billion dollar ticket to Amazon's empire, which bought the company as part of its move into consumers' homes and communities.
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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.
PYMNTS
SEPTEMBER 10, 2018
To bring higher-end products to its website, Walmart had courted brands like water-filtration company Katadyn for months. As part of its efforts, the retailer gave some brands the opportunity to determine how outside sellers on the its website price and display their products. But Walmart’s efforts, amid its wider eCommerce push as it inches into Amazon’s territory, have met some resistance from the very brands that Walmart wants to sell on its site.
FICO
SEPTEMBER 10, 2018
FICO’s chief analytics officer, Dr. Scott Zoldi, has been named one of the top 100 innovators in data and analytics by Corinium. Corinium’s list spotlights business leaders, technologists and influencers who have accelerated the proliferation and understanding of data and analytics over the last 12 months. “My focus is on applying artificial intelligence and machine learning to our customers’ operational data, to allow actionable and measurable decision management,” said Scott.
PYMNTS
SEPTEMBER 10, 2018
Amazon’s Prime subscription business is expected to more than double in the next 10 years, hitting 275 million subscribers in the U.S. alone, according to estimates by Citigroup. CNBC , citing Citigroup analysts, reported that the Wall Street firm argued in a research report – in which it raised its price target on the stock – that the rest of Wall Street doesn’t appreciate the full value of Prime, and that the company could enjoy more than $500 billion in Prime gross sales each year
Payments Source
SEPTEMBER 10, 2018
The popularity of technology-driven international transactions are making their way to TransferWise's balance sheet.
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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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