Bank Innovation
DECEMBER 4, 2019
Koho, a Toronto-based digital banking startup, is on track to expand its product suite to include credit and savings products in 2020, CEO Daniel Eberhard told Bank Innovation on Wednesday. The company offers checking accounts, debit cards, personal finance management services, foreign exchange tools and cash back programs for Canadian consumers. In late November, the […].
Chris Skinner
DECEMBER 4, 2019
Back in 1997, I was tasked with writing a strategy for NCR. The strategy had to review the likelihood that other industries would enter banking and what threat or opportunity this offered. I spent a long time on this and concluded that the most likely outcome would be that telecommunications … The post Banking in the 1990’s … even then, the writing was on the wall appeared first on Chris Skinner's blog.
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Bank Innovation
DECEMBER 4, 2019
EQ Bank has moved from on-premise servers to the cloud in an effort to save money and easily share banking data with third-party apps. The bank, which completed the migration in late November, said it’s the first institution in Canada to move completely to the cloud. It’s doing so through Microsoft Azure’s platform. Dan Dickinson, […].
Chris Skinner
DECEMBER 4, 2019
Things we’re reading today include … One in five consumer credit reports contains an error HSBC customers could see overdraft fees quadruple under new regime Winklevoss crypto-exchange hires Starling co-founder Metro Bank chief to step down two months after chairman Zopa backer cuts valuation almost in half Wall Street power … The post Things worth reading: 5th December 2019 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 4, 2019
BMO Harris Bank, through a partnership with Mastercard, wants to solve an identity verification problem for customers who have changed their gender identities since birth. The bank this week said if customers decide to be addressed by a name of their own choosing, BMO will interact with them accordingly, even if their legal name has […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
DECEMBER 4, 2019
A prolonged glitch at HDFC Bank Ltd., an Indian lender well known for its digital services, could erode trust and hurt business as clients struggle to perform basic transactions. An unknown number of the Mumbai-based lender’s 49 million customers have been locked out of its online banking platform for the past three days, prompting dozens […].
PYMNTS
DECEMBER 4, 2019
State-issued driver’s licenses and ID cards are the most common forms of personal identification in the U.S., allowing citizens to prove their identities at airports, bars and in numerous other settings. Individuals must ensure that they have such credentials on them at all times, though, which gives them yet another thing about which to worry. What if they could instead easily access such identification methods on their smartphones, which they are likely to be carrying anyway?
BankBazaar
DECEMBER 4, 2019
Are you planning to apply for a Home Loan and are confused about what the EMIs will be? Well, this is where a loan EMI calculator comes to your rescue. Are you planning to apply for a Home Loan and are confused about what the EMI s will be? Well, that’s a common question everyone has when planning to apply for a Home Loan. You, however, need not worry about this at all as our Home Loan EMI calculator will calculate your EMIs for you in an instant!
PYMNTS
DECEMBER 4, 2019
Friction is everywhere – even the not-quite-vacuum of outer space has it. Closer to earth, friction can make a mess of commerce and payments, especially as impatient consumers have multiple options for where to spend their time and money. But the fight against friction – one of the defining payments and commerce endeavors of this decade, and the one about to start – is getting a boost from artificial intelligence (AI) and robotics.
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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
Gonzobanker
DECEMBER 4, 2019
Recent acquisitions illustrate how data is driving fintech valuations. Fintech deals continue to dominate the financial service headlines, and a growing number of these transactions are in analytics. nCino recently announced. the acquisition of portfolio analytics provider Visible Equity for an undisclosed sum. Visible Equity reports 850 clients, and Cornerstone sees them mostly in credit unions.
PYMNTS
DECEMBER 4, 2019
Walmart supports consumers having “reasonable controls” when it comes to the collection, use and sharing of personal data, Reuters reported. During testimony at a hearing by the U.S. Senate Committee on Commerce, Science and Transportation, the retail giant said customers should be able to “reasonably access, correct or delete their data while limiting the sale of their data to third parties and its use in digital advertising.
Jack Henry
DECEMBER 4, 2019
Cyber threats are becoming increasingly sophisticated, complex and pervasive, leaving financial institution (FI) and consumer data more vulnerable than ever before. As risk proliferates, it is no longer a question of if an attack will happen, but rather when fraudsters will strike. FIs, as a result, are challenged to keep up with evolving cybersecurity initiatives, IT regulatory compliance demands, and critical disaster preparedness issues – all while staying within budget and focusing on other
PYMNTS
DECEMBER 4, 2019
For China: Digital currency, yes. But not bitcoin. Blockchain? Yes. But not bitcoin. The price of bitcoin, that marquee name in cryptocurrencies, has plummeted in the last several weeks, down roughly 20 percent at this writing to a recent $7,400, where the price had been more than $9,400 a month ago. Whether you believe in bitcoin’s potential (or lack thereof) to become a viable conduit of commerce , the crypto’s pricing acts as shorthand for the near-term outlook for digital coins in general, a
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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 4, 2019
ABN Amro cuts ATMs; Clearing House faster pay picks up credit unions; and other information you need to start your day, from PaymentsSource and around the web.
PYMNTS
DECEMBER 4, 2019
It is hard to call mead a trendy beverage — since it’s been around for at least 4,000 years, first showing up in ancient Egyptian texts described as the beverage of the gods. Still, it is younger than both beer and wine (which are 5,000 and 6,000 years old respectively) and never quite achieved the same cultural ubiquity of either. The honey-based fermented beverage (sometimes called “honey wine” though dedicated mead drinkers affirm that mead is a fundamentally different drink than wine) has be
CFPB Monitor
DECEMBER 4, 2019
The Department of Defense announced in its Fall 2019 rulemaking agenda that it is engaged in proposed rulemaking to amend its Military Lending Act (MLA) regulations, apparently in order to allow non-bank creditors to provide secured auto financing for purchase transactions. (The DoD’s agenda was filed as part of the Fall 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget.).
PYMNTS
DECEMBER 4, 2019
Federal banking regulators support using alternative methods to assess creditworthiness to help high-risk people get loans, The Wall Street Journal (WSJ) reported on Tuesday (Dec. 3). . Instead of using traditional credit scores, lenders can look at alternative data like borrowers’ cash flow. This approach “may help firms evaluate the creditworthiness of consumers who currently may not obtain credit in the mainstream credit system,” the regulators said in a joint statement.
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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 4, 2019
In the race to make shopping as easy as possible, a growing group of companies has turned to a strategy that seems impossible in our security-saturated world: the honor system.
PYMNTS
DECEMBER 4, 2019
For the better part of the last decade, “ frictionless ” has been the gold standard when it comes to consumers’ interactions with merchants at checkout. In a world that is moving rapidly to mobile, the conventional wisdom is that the fewer stutter steps introduced to the checkout process, the better, as roadblocks are likely to bounce the consumer to the next available site.
ABA Community Banking
DECEMBER 4, 2019
As one of the country's generation of young bank CEOs, and one whose professional background is in risk management and regulatory compliance, Clayton Legear shares his unique outlook in the latest episode of the ABA Banking Journal Podcast. The post Podcast: A Risk Manager Moves Into the Corner Office appeared first on ABA Banking Journal.
PYMNTS
DECEMBER 4, 2019
The holiday season is the time for nostalgia and tradition, and that is the case here at PYMNTS, where even amid our coverage of the newest retail trends, we sometimes get the warm-and-fuzzies. It led us to wonder, going into the heart of the fourth quarter and then into 2020, about the status of that old standby, the retail catalog. Those old-fashioned methods of selling might have more life in the eCommerce age than many assume – thanks in large part, according to experts, to younger consumers
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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.
CB Insights
DECEMBER 4, 2019
In 2017, Andreessen Horowitz general partner Alex Rampell said that of all the tech giants that could make a major move in financial services: “Amazon is the most formidable. If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. While the anticipation for Amazon’s plunge into banking gets louder each year, it’s important to first understand Amazon’s existing strategy in financial services — what Amazon has launched and bu
PYMNTS
DECEMBER 4, 2019
U.S. asset manager WisdomTree has launched its first investment product, offering large investors exposure to bitcoin without having to directly hold the asset. As Jason Guthrie, WisdomTree Europe’s head of capital markets, pointed out, the offering is the first its kind by a mainstream, established asset manager. The product’s underlying bitcoin will be held in “cold,” or offline, storage by Swissquote bank.
CFPB Monitor
DECEMBER 4, 2019
The CFPB and FTC announced the issues that the panels will discuss at the workshop on accuracy in consumer reporting that the agencies will co-host on December 10, 2019. The workshop will examine issues affecting the accuracy of traditional credit reports as well as employment and tenant background screening reports, including changes in legal requirements and technological developments.
PYMNTS
DECEMBER 4, 2019
Food-delivery startup Postmates has laid off dozens of employees and shuttered its Mexico City office, CNBC reported on Tuesday (Dec. 3), citing sources. . Postmates , which has about 1,300 employees, started laying off dozens of people this week, and not just in Mexico City, sources told CNBC. Employees were axed from the company’s headquarters in San Francisco as well as from Los Angeles, Nashville, Tennessee, and other offices. .
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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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