Bank Innovation
NOVEMBER 22, 2017
EXCLUSIVE–With global payments service SWIFT gpi (global payments innovation) finishing up its first active year, how is SWIFT planning to push the service forward in 2018? The banking infrastructure provider will be moving gpi forward through new partnerships and new projects, most notably API capabilities, Stephen Grainger, managing director, head of North America for SWIFT, […].
PYMNTS
NOVEMBER 22, 2017
Artificial intelligence (AI) doesn’t walk and talk like C3P0 of “Star Wars” (many would say: “Thank God”). It doesn’t mask murderous intentions with a calming voice like HAL of “2001: A Space Odyssey.” It’s not the manically depressed, paranoid android Marvin of “Hitchhiker’s Guide to the Galaxy.” It’s not a beautiful but cunning killer like Ava of “Ex Machina.”.
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Bank Innovation
NOVEMBER 22, 2017
EXCLUSIVE – The latest in PayPal’s busy week: the payments company is now letting users create an invoice through the Facebook Messenger service, expanding on its recent partnership with the social media platform to enable P2P payments through Facebook’s chat service. In a corporate blogpost yesterday afternoon, PayPal announced that it would now let sellers create […].
Chris Skinner
NOVEMBER 22, 2017
Things we’re reading today include … HSBC closes Marine Le Pen bank account Federal Reserve interest rate rise expected in the ‘near term’ LSE lines up back-up boss as spat with top investor escalates Starling takes the challenger fight to big banks with European and wholesale push Uber’s messy data … The post Things worth reading: 23rd November 2017 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
NOVEMBER 22, 2017
Norwegian banks are coming together to merge their payments. According to Reuters, the purpose behind this merger is to combat competition from global payment companies, perhaps ones like PayPal or Square Cash to name a few. DNB, banking group Eika, Sparebank 1 Gruppen and others will merge their respective payment systems Vipps (mobile payment app), […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 22, 2017
Two banks have unveiled a corporate cross-border payment solution for real-time payments, using Ripple’s blockchain solution for the network. The solution, which is now commercially available between Standard Chartered bank in Singapore, and Axis Bank in India, will give corporates “greater control over cash flow,” according to the banks. While Axis Bank corporate customers can […].
PYMNTS
NOVEMBER 22, 2017
The Asia-Pacific region is a rising star in FinTech innovation, but this week, the blockchain spotlight landed on Singapore as more distributed ledger initiatives from the private and public sectors took major steps forward. It’s no surprise, considering the Singapore FinTech Festival took place, acting as a global stage for blockchain innovators to strut their stuff.
Bank Innovation
NOVEMBER 22, 2017
Chinese law makers suspended regulatory approval for new micro-lenders in the region on Tuesday, as well as restricted new approvals, issuing a notice on the matter yesterday that sent U.S.-listed Chinese stocks tumbling. The “top tier” government body’s notice told provincial governors to halt approval for new online micro-lenders, according to a report by Reuters. […].
PYMNTS
NOVEMBER 22, 2017
Consumers increasingly want their food to be locally sourced and ethically raised, including (and perhaps especially) on Thanksgiving. The market has been eager to respond to that need. This year, Amazon decided that an organic turkey could be the central player on any American’s table tomorrow by making the bird more affordable (especially for Prime members) to pick one up without breaking the bank.
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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
Insights on Business
NOVEMBER 22, 2017
The changes we see in the global payments landscape, driven by innovative technologies, are fundamentally changing the industry, but they come with a brand new set of challenges. Over the past decade, sophisticated fraudsters have learned to rapidly scale up their attacks, making them more skilled at exploiting payment systems. The same technology that has helped change the world of payments has also fueled fraud complexity, requiring an increasingly sophisticated anti-fraud response – pay
PYMNTS
NOVEMBER 22, 2017
Although he is due to resign next week, Richard Cordray, the director of the Consumer Financial Protection Bureau , still wants his opinion to be heard. According to American Banker , Cordray sent a letter to 29 chief executives at banks, credit unions and other financial companies, urging them to help consumers have more control over credit cards, debit cards and other payment methods. “On the eve of my leaving the bureau, I urge you to think creatively about how you can put more control
Let's Talk Payments
NOVEMBER 22, 2017
According to MEDICI data, Germany’s FinTech landscape counts ~475 companies. While FinTech companies in Germany collected €400 million for the whole of 2016, the inflow of capital had already reached.
PYMNTS
NOVEMBER 22, 2017
Ask any entrepreneur, and he or she will tell you that starting a new business isn’t easy. Now imagine moving to a new country to not only establish a life there but also establish a company, too. Muhammad Asim endured this challenge himself when moving to the U.K., a market he recently told PYMNTS is especially difficult for small- and medium-sized business (SMB) owners coming from out of the country — particularly when it comes to accessing small business financial services.
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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
NOVEMBER 22, 2017
Norwegian banks have been keenly aware of — and concerned about — the prospect of mobile wallets developed in Silicon Valley affecting their own services. So much so that a group of banks has begun preparing to merge their payments systems into one platform and have it up and running by next August.
PYMNTS
NOVEMBER 22, 2017
Account takeover fraud , card-not-present (CNP) fraud, tax fraud, selling stolen financials, selling fake bank accounts, the Dark Web: If security experts are fighting it today, chances are that Brett Johnson was there when it started. In fact, chances are that he helped create it. Johnson is one of the good guys now, but once upon a time, he was one of the baddest bad guys out there – a star of the most-wanted list.
Payments Source
NOVEMBER 22, 2017
BMO Financial group will invest $2 million into a new Artificial Intelligence lab in Montreal designed to help startups make the transition from science projects to high-growth companies.
PYMNTS
NOVEMBER 22, 2017
As turkeys soak up a few more hours of brining today, the holiday season is just about set to pop — and along with it are the to-do lists of consumers juggling duties as gift givers, gourmet chefs and party hosts. With all the stuff to do, maybe technology can finally be the next great holiday helper. . In the November edition of the PYMNTS.com Omni Developer Report , a Vantiv collaboration, PYMNTS explores the latest developments in the software space, including new mobile platforms and tools
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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
NOVEMBER 22, 2017
The digitally driven retail environment has caused lots of adapt-or-die challenges for payment processors and merchant acquirers, including spotting fraud as it moves from one device and channel to another.
PYMNTS
NOVEMBER 22, 2017
In an attempt to make it even easier to get the right gift this holiday shopping season, Pinterest has announced news of a personalized gifting tool designed to help customers get inspired by custom Christmas gifts for their friends and family. The new tool has managed to attract some high-profile partners to go along with the launch — Amazon, Bed Bath & Beyond, Coca-Cola, CVS and Universal Pictures are all on board.
Payments Source
NOVEMBER 22, 2017
The federal banking regulators should create a working group that, rather than propose new rules and regulations, would clarify the application of existing rules to blockchain technology.
PYMNTS
NOVEMBER 22, 2017
As Australian policymakers explore how to combat late B2B invoice payments to small- and medium-sized businesses (SMBs), the government is beginning to tackle the issue within its own walls. Reports in the Brisbane Times on Tuesday (Nov. 21) said new rules come into effect this week that will see government workers required to pay invoices for contracts within 20 days, following recommendations from the Australian Small Business and Family Enterprise Ombudsman.
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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
NOVEMBER 22, 2017
Uber’s announcement that it had been hacked in 2016 — resulting in the exposure of 57 million accounts — was shocking. The breach itself did not include payment information, but does that really matter from the consumer's perspective?
PYMNTS
NOVEMBER 22, 2017
A new survey from research capacity building program Support of Competitive Research (SCORE) released this week suggests small- and medium-sized businesses (SMBs) in the U.S. are increasingly reliant on gig economy workers to get through the holiday rush. SCORE, which operates a network of volunteer business mentors, published its “Small Business Jobs Report” survey data on Tuesday (Nov. 21), highlighting a 37 percent increase in SMBs’ hiring of gig workers over the last six months — more
Let's Talk Payments
NOVEMBER 22, 2017
Contrary to the widespread belief that physical retail is widely believed to be playing a diminishing role in modern lifestyle, the future of commerce will be at the intersection of.
PYMNTS
NOVEMBER 22, 2017
When getting ready for a night on the town — complete with perfectly done makeup — the average female shopper doesn’t usually say to themselves, “Shoot, I have to get to the 7-Eleven.”. But that might just be changing, if 7-Eleven can convince customers that, more than the location where they might most naturally expect to get a slurpee and a hot dog, they are also the natural location to pick up some discount cosmetics.
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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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