Chris Skinner
MAY 9, 2019
I used to blog about blockchain and cryptocurrency almost every day. I stopped as it got too hyped, scammed and boring. In fact, my last blog was about the blockchain hype being dead, but the blockchain dream is still very much alive. Now, most people think that blockchain is something … The post Bitcoin, Stablecoin, Blockchain, Enterprise Ledger … WTF?
Payments Dive
MAY 9, 2019
San Francisco became the latest municipality to ban cashless retail as vulnerable populations demand equal access to shopping and dining service.
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Chris Skinner
MAY 9, 2019
Things we’re reading today include … Why the Royal Mint stopped making 20p coins HSBC and StanChart under attack from China tech TSB expected to cut at least 100 jobs at head office Australian $50 note typo: spelling mistake printed 46 million times Uber-rich: the wealthy people who will get … The post Things worth reading: 10th May 2019 appeared first on Chris Skinner's blog.
PYMNTS
MAY 9, 2019
In today’s digital economy, with shopping as easy as the tap of a finger on a smartphone screen, brick-and-mortar retail businesses have no choice but to innovate to keep and grow their clientele. A large percentage of all retail businesses recognize this reality, but, in some quarters of the economy, the implementation of innovative technologies has been slow-going.
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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
MAY 9, 2019
Green Dot, a Pasadena, Calif.-based fintech with a banking license, appears ready to go all-in on its banking-as-a-service platform business. Executives announced plans during the firm's first-quarter earnings call yesterday to invest an incremental $60 million in the second half of 2019 for the purpose of “aggressively marketing” new products set to launch over the […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
MAY 9, 2019
Payments software provider Episode Six will launch in the U.S. soon, according to its co-founder and CEO John Mitchell. Though he could not disclose a timeline, Mitchell noted he's currently visiting New York City to lay the groundwork for the launch. “We are hiring in North America and raising growth capital at the moment,” Mitchell […].
PYMNTS
MAY 9, 2019
All too often, firms eye their top lines and growth to the exclusion of most everything else — a mono-mindedness that can have negative repercussions. Operational pain points are often not addressed until they have to be addressed, then, because of that neglect, they suddenly require all sorts of investments in terms of time and money. So it is with accounts payable (AP), as Chen Amit, CEO of Tipalti , told PYMNTS in a recent interview.
Bank Innovation
MAY 9, 2019
Visa announced yesterday that it is acquiring the cross-border payment company Earthport. The question is why? The short of it is that the acquisition will allow Visa customers to securely send money to businesses, individuals and banks around the globe in real time. Visa customers already can send money via card, but Earthport will allow […].
PYMNTS
MAY 9, 2019
The banking regulator in Hong Kong has issued an additional four online-only banking licenses to Ping An, Alibaba, mobile phone maker Xiaomi and a joint venture (JV) consisting of Tencent, ICBC and Hillhouse Capital. Reuters is reporting that this totals eight total licenses handed out by the government. The Hong Kong Monetary Authority, which handed out the licenses, expects the banks to launch in about six to nine months.
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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
Bank Innovation
MAY 9, 2019
INV Fintech, Bank Innovation’s sister accelerator, announced its seventh accelerator class today, which kicks off this week with eight startups covering a wide range of the fintech space. The startups were selected for participation after a rigorous review process by INV Fintech and its partners, which include Fiserv, TIAA, BB&T, Associated Bank, SECU, and more. […].
PYMNTS
MAY 9, 2019
A trip to a restroom, even in a restaurant in which customers tend to wear slacks instead of shorts, is a relatively simple and even boring affair (stick with us here; we have a point). With the spread of digital payments, one of the luxuries of those restroom visits is in danger of disappearing – another mark of how the ongoing decline of cash is changing a host of once common activities.
Bobsguide
MAY 9, 2019
There are three things we usually don’t leave home without: keys, wallet and phone. The first two can be easily replaced by the third one. But to manage money using a few-inch screen is not a small task by any measure. Granted, we can deal with managing access to the device itself quite.
PYMNTS
MAY 9, 2019
European Union antitrust regulators are going to fine seven banks for manipulating the foreign exchange market, according to reports. The banks involved are Barclays, Citigroup, HSBC, JPMorgan, Royal Bank of Scotland, UBS and a smaller Japanese bank. However, the EU has said the fines will be cut by 10 percent if the banks admit to wrongdoing. The antitrust enforcer has been working on the case for the last six years, and it could potentially hand out fines of up to 10 percent of an institution&
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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.
Bobsguide
MAY 9, 2019
Large US banks are racing to get ahead of quantum computing powered encryption breakers, by showing interest and investing early in quantum key distribution (QKD), the only known prevention mechanism. “This is like the space or arms race and it’s the sort of race the US can’t.
PYMNTS
MAY 9, 2019
African FinTech payment startup Chipper Cash has attracted some high-profile investors and raised $2.4 million in a funding round, according to a report in TechCrunch. The company went live in October of 2018, and it’s a no-fee, P2P cross-border startup. The funding round was led by Deciens Capital and joined by 500 Startups and Liquid 2 Ventures, which was co-founded by legendary former 49ers quarterback Joe Montana.
Insights on Business
MAY 9, 2019
The world of sales is changing. To make the most of every pound, dollar, or euro of sales compensation and have a sustainable impact on sales performance, sales compensation needs to be integrated into the broader aspects of sales performance. The Revenue Roadmap: To begin, it’s important to understand how the sales process fits together. We use the Revenue Roadmap to show how sales leaders can connect Insight, sales strategy, customer coverage, and enablement.
PYMNTS
MAY 9, 2019
A popular photo app called Ever, which was ostensibly used for cloud storage of photos, has been using customer pictures to train facial recognition AI software, according to a report by CNBC. The company, which was started in 2013, marketed itself as a “warm and fuzzy” photo app site that would help customers store photos and free up space on their phones.
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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
MAY 9, 2019
First Data has had significant relationships with Citi, Chase, Bank of America and other large banks — but a report that Bank of America may be ending its joint venture with First Data could send waves throughout the payments industry for what it signifies.
PYMNTS
MAY 9, 2019
Welcome to The Axis, your late look at payments news from around the world. Coverage includes the Czech Republic -based Twisto ’s €14 million raise. In addition, U.K. cash deposit platform developer Flagstone took in £11m in funding, and another four firms have reportedly received banking licenses from the Hong Kong Monetary Authority (HKMA) in Asia.
Payments Source
MAY 9, 2019
Most do not have an independent treasury function, making cross-border finance difficult, contends Chen Amit, CEO and Co-founder of Tipalti.
PYMNTS
MAY 9, 2019
Facebook Co-Founder Chris Hughes issued a scathing rebuke of Facebook CEO Mark Zuckerberg, calling on the government to break up the social media giant. In a New York Times op-ed on Thursday (May 9), Hughes said it is time for the government to hold Facebook CEO Zuckerberg accountable, arguing that an impending $5 billion fine by the Federal Trade Commission (FTC) isn’t enough punishment for the company.
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
Payments Source
MAY 9, 2019
Dutch bank holding company ING Group and its venture capital arm, ING Ventures, joined three other VC groups to fund a €14 million (about US$ 15.75 million) Series B investment round for the Czech-based mobile credit payment app Twisto.
Insights on Business
MAY 9, 2019
The story your sales team tells your customers is the front-of-the-line growth driver for your company. The most current research is in general agreement that a good sales pitch is backed up by a well-crafted story. Communicating your sales message through a story can create trust, drive interest and retention, and emotionally motivate your customer to act.
Payments Source
MAY 9, 2019
Despite seismic shifts in the payments landscape over the last 45 years, how we handle chargebacks remains more or less the same, writes Monica Eaton-Cardone, COO of Chargebacks911 and CIO of its parent company Global Risk Technologies.
CFPB Monitor
MAY 9, 2019
In this podcast, we discuss significant consumer arbitration developments since Congress’ Oct. 2017 override of the CFPB’s arbitration rule, including the prospects of proposed federal legislation, litigation developments, and how arbitration agreements can be revised to address risks created by those developments. We also review best practices for drafting consumer arbitration agreements and hear from Alan Kaplinsky about his experience as a witness at the Senate’s April 2019 arbitration hearin
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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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