Bank Innovation
OCTOBER 26, 2017
EXCLUSIVE—If banks want to remain a large, foundational part of the future financial system, they’re going to have to start working a bit harder on the open banking ecosystem, Marten Nelson, co-founder and VP of marketing for Token, told Bank Innovation. “Banks have to play on both sides as well, they do need to develop […].
Payments Dive
OCTOBER 26, 2017
Contextual commerce is an emerging trend in the payments and retail industries that executives are still trying to figure out due to some confusion over the concept.
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Bank Innovation
OCTOBER 26, 2017
EXCLUSIVE – Blockchain-based rental payments platform Rentberry is looking to raise $30 million in an Initial Coin Offering (ICO) next month, Bank Innovation has learned. The ICO is set to take place on Nov. 30, Rentberry CEO Alex Lubinsky told Bank Innovation at Money 20/20 in Las Vegas. Based in California, Rentberry is a home rental service that […].
Chris Skinner
OCTOBER 26, 2017
I’m running around the different areas of #Money2020, meeting folks, seeing exhibit demos, hearing track streams and listening to plenary keynotes. To be honest, the keynotes here are just product pitches so I spend most of my time in the track streams, where real dialogue occurs. The major stream that … The post Regulating the blockchain: good for government, bad for citizens 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
OCTOBER 26, 2017
EXCLUSIVE – Financial services-focused conversational AI company, Clinc is contemplating a B2C product, Clinc CEO and co-founder Jason Mars told Bank Innovation. Fresh after winning “Best in Show” at Bank AI a few weeks ago, Clinc announced at Money 20/20 in Las Vegas yesterday a new partnership with Turkey’s largest bank IsBank, to integrate its […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
OCTOBER 26, 2017
Alternative lender LendingClub has shuttered five of its investment funds and re-branded its investment advisor subsidiary, LC Advisors, to Lending Club Asset Management. The total value of the five funds comes to about $376 million, one fund carrying the majority of that figure with a $318 million portfolio. The company is shutting down that particular […].
PYMNTS
OCTOBER 26, 2017
The debate over cryptocurrencies tends to hinge on the investments within the digital Wild West. The key questions revolve around who regulates bitcoin and its peers, from Ethereum to the slew of cryptocurrencies that seem to pop up daily. The exchanges may come and go. Any number of regulatory bodies may levy varying levels of scrutiny. The prices may wax and wane.
Bank Innovation
OCTOBER 26, 2017
PFM startup Credit Sesame has raised over $42 million in funding to expand its robo-adviser capabilities, among other things. Investors in this round of funding include Menlo Ventures, Inventus Capital, Globespan Capital, IA Capital, SF Capital as well as the based company’s existing investors. Of the $42 million, $26.6 million is in equity and $15.5 […].
PYMNTS
OCTOBER 26, 2017
According to CEO Alfred Kelly, Visa ended its financial year as it began, “with strong growth across payments volume, cross-border volume and processed transactions, which was bolstered by the addition of Visa Europe.” That sent Visa’s stock price up 2 percent, to a record high of $110.61. The headline was, of course, the marked increase in payment volume of nearly 10 percent (9.8 percent) to $1.93 trillion, on a constant dollar basis.
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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
OCTOBER 26, 2017
Digital wallet adoption is slowly on the rise, and payments provider PayPal seems to be the most popular choice for users. Users of the PayPal digital wallet far extend users of its closest competition, Apple Pay, according to a Market Force Banking Study released yesterday. The study, which polled about 6,500 banking customers in August […].
PYMNTS
OCTOBER 26, 2017
How much of the U.S. population is financially vulnerable? That is, how many are walking the razor’s edge of solvency, and how many are on their second chance after a shock to their financial stability — such as job loss, work-related injury or a divorce that removed an income stream? More than you’d think, said Karen Webster. It’s a full 40 percent, according to a recent survey by PYMNTS.
Bank Innovation
OCTOBER 26, 2017
U.K.-based fintech Revolut is onboarding 40 new firms to its service per day, registering a total of 16,000 business customers since it first opened its Revolut for Business application in June. The app, which provides business bank accounts that let companies issue corporate credit cards and a make multi-currency money transfers, is hoping to sign […].
PYMNTS
OCTOBER 26, 2017
McDonald’s franchise owners in Pennsylvania have settled a lawsuit filed in 2015 over their use of payroll cards, news reports on Wednesday (Oct. 25) said. Owners of 16 McDonald’s locations across the state have agreed to pay nearly $3 million to hourly employees that joined a class action lawsuit against the fast food restaurant owners’ use of payroll cards they said were riddled with unfair fees.
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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
OCTOBER 26, 2017
Trends in the trader workplace. Business and IT managers making decisions about trading floor design and infrastructure face three major trends which are impacting needs assessment and resource allocation: stricter regulation, the evolution of the role of the human trader, and cost pressures.
PYMNTS
OCTOBER 26, 2017
Just in time for Halloween, the Reaper is coming, and he’s after your internet. Reaper, also known as IOTroop, is a growing botnet whose size, at more than 1 million organizations infected, could soon rival that of the Mirai botnet that knocked much of the U.S. offline last year, along with top websites around the world – Reddit, Netflix, Twitter and Spotify, just to name a few.
Let's Talk Payments
OCTOBER 26, 2017
October is Cybersecurity Awareness Month, and with the recent string of data breaches, protecting assets in an increasingly digital world is at the top of many consumers’ minds. While you’ve.
PYMNTS
OCTOBER 26, 2017
Points , the global leader in powering loyalty commerce, announced a partnership with Groupon to supply new loyalty offers to its extensive user base. When Groupon’s U.S. users make a purchase, they can now choose an incentive of up to 10 points or miles per dollar spent from some of the world’s leading loyalty programs , including the Alaska Airlines Mileage Plan, Choice Privileges, IHG Rewards Club, JetBlue’s TrueBlue loyalty program, La Quinta Returns and others.
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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.
Gonzobanker
OCTOBER 26, 2017
“On applications, where it asks if you’ve ever committed a felony, I like to write in, ‘Is lying on an application a felony?’”. -Guy Endore-Kaiser. At two recent gatherings, Cornerstone Executive Roundtable of human resources executives, this question was asked: “What are the most difficult jobs to fill and keep right now?” In about five seconds, 20 financial executives from institutions of different sizes, strategies, locations and business models unanimously identified two areas with huge cha
PYMNTS
OCTOBER 26, 2017
It was the (initially) small FinTech startups that delivered a collective shakeup to the small business (SMB) lending industry. Alternative and marketplace lending platforms promised faster, easier SMB lending than traditional banks could deliver and eventually led traditional financial institutions (FIs) to collaborate with their one-time rivals as they realized they needed to offer more technologically advanced lending experiences to their small business customers.
Let's Talk Payments
OCTOBER 26, 2017
PayPal CEO Dan Schulman believes that new partnerships across the financial ecosystem are the key element to building an inclusive economy around the world. In this presentation, Dan shares his.
PYMNTS
OCTOBER 26, 2017
Ridesharing company Uber announced news of the launch of its Uber Visa Card, which is a credit card with no annual fee. In a blog post , the company said it created the card with its riders in mind after speaking with them about how and where they spend their money and what they want from a credit card. The result is the Uber Visa Card, which enables users to earn rewards on all of their purchases.
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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.
Let's Talk Payments
OCTOBER 26, 2017
“Banks must actively embrace the move to open APIs in order to secure their role and position in the new ecosystem of financial services and payments. Achieving this will require.
PYMNTS
OCTOBER 26, 2017
Hong Kong and Singapore have reached an agreement to link their perspective trade finance platforms using blockchain technology, according to news from Reuters on Wednesday (Oct. 25). The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Singapore announced their plans this week as an effort to combat errors and fraud in cross-border trade.
Payments Source
OCTOBER 26, 2017
Metronome, the brainchild of Jeff Garzik, may appeal to banks as the world's first 'cross-chain' cryptocurrency.
PYMNTS
OCTOBER 26, 2017
In the aftermath of its purchase of 1,932 stores from Rite Aid, Walgreens has announced that it will be closing down 600 stores. The store closings will be rolling across the next year and a half, according to CFO George Fairweather. Speaking on the firm’s quarterly earnings call, Fairweather noted that the locations marked for shutdown will mainly be Rite Aid locations — and usually as a result of their proximity to another Walgreens or Rite Aid location.
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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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