Payments Dive
OCTOBER 9, 2018
Restaurant and retail executives that gathered in Chicago this past summer for the Networld Media Group's annual CONNECT: The Mobile CX Summit shared their thoughts with us about the hottest trends in mobile technology in this exclusive video.
Bank Innovation
OCTOBER 9, 2018
If Bitcoin hasn't been in the news lately (Bank Innovation included), it's because things aren't going that well for the best-known cryptocurrency, or for that matter any of the altcoins. A new report from Juniper Research found that the value of annual Bitcoin transactions will decline in 2019. Gone are the days from last December when Bitcoin had […].
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Chris Skinner
OCTOBER 9, 2018
Things we’re reading today include … Credit union in wealthy London borough collapses Emerging economies at risk amid ‘complacent’ markets, IMF says EU financial sector at risk as derivative deal stalls Convicted former UBS trader to be freed from UK immigration centre Global financial stability risks rising with trade tensions, … The post Things worth reading: 10th October 2018 appeared first on Chris Skinner's blog.
PYMNTS
OCTOBER 9, 2018
The world is a rapidly changing place for payments – consumer payments, B2B payments , cross-border payments. We are very much not in Kansas anymore when it comes to moving funds, and the old rules don’t work nearly so well in digital Oz. Consumers want to be safe – a trick in and of itself in a world where fraud and cybercrime are endemic. But they don’t want to be safe at the cost of being grossly inconvenienced.
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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
OCTOBER 9, 2018
Payments company Circle launched a new mobile app today for its trading platform, Poloniex, which it acquired in February. Circle also launched a service for distributing information on cryptocurrencies called Circle Research today. Two weeks ago, Circle launched a stablecoin called USD Coin. Yes, Circle has been busy. Circle is a peer-to-peer payments company originally focused […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
OCTOBER 9, 2018
For banks, initially concerned that PSD2 would allow others to come between them and their customers, the prize comes in keeping themselves at the center of their customers’ digital banking experience, writes Huw Davies, CCO of Token.
PYMNTS
OCTOBER 9, 2018
China’s Tencent Holdings paid $180 million for an undisclosed minority stake in Brazilian FinTech Nu Pagamentos SA (known as Nubank). As a result of the investment, Nubank is now worth $4 billion, making it one of the most highly valued, privately held startups in Latin America. The deal also marks Tencent’s debut in Latin America’s largest economy.
Payments Source
OCTOBER 9, 2018
Fintechs can get what they need from a traditional bank charter with the FDIC, as long as the agency is willing to play ball and step up its approach to innovation.
PYMNTS
OCTOBER 9, 2018
When Olaf Dunn wanted to go camping with his kids last year, finding an available campsite on short notice wasn’t easy. “In Canada, you need to make sure to reserve your campsite four, five, six months in advance,” Dunn, founder of Pitched , told PYMNTS.com in an interview. He hadn’t planned that far ahead, so he was out of luck. Instead, the backyard became the family’s camping destination.
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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
CFPB Monitor
OCTOBER 9, 2018
The FDIC’s Center for Financial Research has issued a research paper that discusses the use of the information contained in a “digital footprint,” meaning the information that people leave online by accessing or registering on a website, for predicting consumer default. The researchers considered ten digital footprint variables that included: The device type (e.g. tablet or mobile).
PYMNTS
OCTOBER 9, 2018
The New York Attorney General and the Connecticut Attorney General are investigating the Google data breach that may have exposed the private data of at least 500,000 users. Google announced Monday (October 8) that it is shutting down Google+ after finding a security bug that made the data accessible to developers. In a blog post , Google said the bug in one of Google+ People APIs granted users access to profile data and the public information of their friends, as well as access to Profile fil
Insights on Business
OCTOBER 9, 2018
As market conditions and business requirements are constantly changing, IBM Sales Performance Management (SPM) continues to lead the industry with adaptive, scalable tools that are designed to drive efficient, agile solutions for your enterprise sales teams. Due to this ever-changing landscape, it’s vital as an SPM professional to stay current on best practices, industry trends, and learn new practical use cases that are in use today.
PYMNTS
OCTOBER 9, 2018
The changing nature of retail has been challenging for pharmacies. Carried on the power of their prescription businesses, they’ve been consistently losing their hold on consumers for the last several years when it comes to the sale of non-pharmacy items. Sales of things like personal care products, cosmetics and various other household goods have been slipping, as consumers are increasingly stocking up online or at alternative retail venues like dollar stores for those types of items.
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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.
CFPB Monitor
OCTOBER 9, 2018
The FDIC has issued a request for information that seeks comment on how the FDIC can make its communications with insured depository institutions (IDIs) “more effective, streamlined, and clear.” Concerned that the amount of information the FDIC provides to IDIs can create challenges for banks, particularly community banks, the FDIC is soliciting input “on how to maximize efficiency and minimize burden associated with obtaining information on FDIC laws, regulations, policies, and other materials
PYMNTS
OCTOBER 9, 2018
Bank of America Merrill Lynch was pounding the table on Apple Tuesday (Oct. 9), predicting the iPhone maker will see increased momentum thanks to the launch of its latest round of mobile devices. According to a report in CNBC , citing a research note that Bank of America Merrill Lynch issued to clients, a global survey of smartphone users concluded there is strong enough demand that Apple could report earnings that beat expectations next year.
Bobsguide
OCTOBER 9, 2018
Starling has acquired 10,000 business customers and 210,000 current account customers to date, with the TSB crisis reportedly bringing in eight times the number of switches to the digital only bank. That’s in an industry where stickiness and customer profitability is key and where it has.
PYMNTS
OCTOBER 9, 2018
Banks and businesses alike are heading toward the 11th hour of changes in accounting standards, which will have a major impact on how companies report financial metrics and performance. The changes, initiated by the Financial Accounting Standards Board (FASB), will affect the way businesses report on leasing costs, revenue recognition, credit losses, financial assets and liabilities, derivatives and hedging.
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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.
Jeff For Banks
OCTOBER 9, 2018
In a follow up to my last post on the subject, that was driven by my friends from Performance Trust , I was asked in the comments section of that post if there was a correlation between non-interest bearing checking accounts and price-to-tangible book multiples. That nugget was asked by Mike Higgins , a bank consultant from Kansas City, who penned a guest post on these pages in the past.
PYMNTS
OCTOBER 9, 2018
Talk about cashless and contactless. How about payments made at the speed of sound — to be specific, using encrypted sound waves to make offline payments? Sound is the ancient method of communication, of commerce, where a promise to sell or buy in days of old would be — and was, and sometimes still is — conveyed by voice, of course, and proximity between buyer and seller.
Payments Source
OCTOBER 9, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Apple Pay's geographic expansion; NCR terminal gets gas EMV certification; ICICI pushes smart city technology; California cracks down on predicable passwords.
PYMNTS
OCTOBER 9, 2018
The Royal Bank of Scotland ‘s (RBS’) chief executive is calling on U.K. regulators to introduce stricter small business (SMB) lending regulations, claiming that lax regulatory oversight is what allowed RBS to avoid punishment after a watchdog found the financial institution (FI) had unfairly treated small business customers of its Global Restructuring Group (GRG).
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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
OCTOBER 9, 2018
At Tropical Smoothie, a new IT project will deploy new cloud-hosted point of sale terminals, handheld devices and kitchen display systems over the next few weeks across its 700-location footprint.
PYMNTS
OCTOBER 9, 2018
Amazon India has denied favoring select Amazon merchants and brands after a complaint was issued against the eCommerce company by an Indian lobby group. The All India Online Vendors Association (AIOVA), which represents more than 3,500 online sellers, filed an antitrust complaint last week with the Competition Commission of India ( CCI ). The petition alleges that Amazon has been favoring merchants that it partly owns, such as Cloudtail and Appario, charging them significantly less than Amazon’s
CFPB Monitor
OCTOBER 9, 2018
As we reported previously , in June 2018 Zillow Group (Zillow) announced that it is no longer under investigation by the CFPB for Real Estate Settlement Procedures Act (RESPA) and UDAAP compliance with regard to its co-marketing program. The CFPB investigation triggered a securities lawsuit filed in the United States District Court for the Western District of Washington (C17-1387-JCC).
PYMNTS
OCTOBER 9, 2018
Microsoft and Grab , the on-demand transportation, mobile payments, and online-to-offline services platform in Southeast Asia, announced Monday (October 9) a strategic partnership in which Grab will tap Microsoft’s machine learning and artificial intelligence capabilities. In a press release , the companies said that in the first step of the partnership Grab will adopt Microsoft’s Azure as is preferred cloud platform.
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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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