Bank Innovation
MARCH 12, 2018
EXCLUSIVE— As the European Union launches its open banking initiatives, EU citizens are already becoming accustomed to further transparency on part of their banks. Agencies in the U.S., however, have yet to adopt such regulations, which is why open banking in the country will be driven by consumer preference. This is according to John Mitchell,Read More.
Chris Skinner
MARCH 12, 2018
I’m not saying I’m always right. In fact, I love it when someone points out I’m wrong, and shows me why, because I learn something. So, I was particularly interested when in Sunday’s Guardian, I saw the headline Blockchain: hype or hope. It’s quite a good article, and talks about … The post bitcoin you say? Bah, humbug! appeared first on Chris Skinner's blog.
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Bank Innovation
MARCH 12, 2018
EXCLUSIVE – Swedish PFM firm Tink landed a major partnership with Belgium’s BNP Paribas Fortis, nearly doubling the fintech’s userbase. BNP Paribas Fortis will integrate Tink’s Aggregation, Personal Finance Management (PFM) and Payment Initiation technology into its mobile banking applications. The first step will be to roll out Tink to BNP's mobile-first digital bank, Hello.Read More.
PYMNTS
MARCH 12, 2018
Artificial intelligence (AI) is making itself right at home in the retail industry. In 2016, AI in the retail market totaled $712.6 million. By 2025 — less than a decade later — it’s projected to reach $27,238.6 million — a 38-fold increase — according to a February 2018 report by The Insight Partners. Why such an astronomical increase? As anyone in finance or commerce today could reveal, change is in the air, and it’s no real surprise that things are likely to get more automated as time goes on
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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
MARCH 12, 2018
EXCLUSIVE – There has been plenty of buzz around voice banking for some time now, and while many thought 2017 would be the year voice banking made it big, that didn’t happen. And that’s not because the field didn’t make any progress - it did- but the fintech world had other distractions (hint: blockchain & Read More.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
MARCH 12, 2018
Israeli startup BioCatch, provider of biometric authentication solutions to banks, has raised $30 million in funding today. The round is led by VC firm Maverick Ventures and includes investors like American Express Ventures, NexStar Partners, Kreos Capital, CreditEase, OurCrowd, JANVEST Capital as well as existing investors. The funds will be used for growth initiatives, although.Read More.
PYMNTS
MARCH 12, 2018
A hammer? A velvet hammer? A helping hand? No one knows at this point, when it comes to a duo of acronyms now inextricably linked: The SEC and ICOs. Last week, of course, the U.S. Securities and Exchange Commission issued scores – the tallies varied depending on where you got the news, but The Wall Street Journal estimated “dozens” – of requests for information and subpoenas from companies who have dipped, or are dipping, corporate toes in the initial coin offerings pool.
Bank Innovation
MARCH 12, 2018
Capital One is making some improvements to its chatbot functionality, now allowing users to request and receive virtual account numbers from Eno, the bank’s virtual assistant. The update will allow the bank’s users to have quicker access to the temporary card numbers when online shopping, Capital One said. Capital One is utilizing its virtual card.Read More.
Bobsguide
MARCH 12, 2018
While financial institutions are still in the early stages of adopting AI technologies, intelligent machines are expected to become the most defining tech for the future of institutions in the financial services and insurance industries. In fact, estimates suggest that 75% of insurance executives.
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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
PYMNTS
MARCH 12, 2018
Cryptos. The future of payments. Not. But might there be digital offerings in the wings that will supplant the promise (and peril) of bitcoin and its digital currency brethren? It’s a case that, Laurence Cooke, CEO of nanopay, made on Friday’s Topic TBD, telling PYMNTS’ Karen Webster that cryptos simply won’t cut it when it comes to speed and scale, two things that are the hallmarks of any viable payments system, digital or otherwise.
Payments Source
MARCH 12, 2018
As Diebold Nixdorf continues its evolution from decades as a leading manufacturer of standalone ATMs to a maker of omnichannel-connected banking, it’s created a new service leveraging the Internet of Things.
PYMNTS
MARCH 12, 2018
There’s an art to getting people to sign up and pay for anything these days. More often than not, they’ll turn tail at the first sign of a registration page. If that doesn’t scare them away, the “Enter Credit Card” field surely will. Maybe that’s thanks to widespread abuse of recurring payments: Once a customer forgets to cancel the next payment, he’s locked into that subscription , and that feels like a dirty trick from the consumer side.
Bobsguide
MARCH 12, 2018
The fact that rapidly evolving technologies are changing the very nature and model of banking is now du jour. New competition, new technologies and changing customer expectations are driving the digital transformation for large established players in banking. To meet these evolving market and.
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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.
PYMNTS
MARCH 12, 2018
In a move to expand its business overseas and take on Uber , India’s Ola has launched in Sydney. The service has already signed up 7,000 drivers in the Australian city, TechCrunch reported. “We are excited to officially start operating on the east coast with the launch in Sydney,” Chandra Nath, VP and head of International for Ola, said in a statement.
Insights on Business
MARCH 12, 2018
Gene Ludwig, the CEO and founder of Promontory Financial Group , recently sat down with Bloomberg Law in a wide-ranging interview to discuss his predictions for the future of RegTech, blockchain, and where he sees the markets going in the next three to five years. Promontory was acquired by IBM in 2016 , and helps primarily financial services institutions navigate the increasingly complex regulatory environment.
PYMNTS
MARCH 12, 2018
Call centers aren’t what they used to be. In fact, these days, they’re so much more: They’ve actually become the primary customer-company interaction point as more commerce moves toward online and mobile channels. To keep up with these changes, contact centers and the companies that serve them must embrace new tools and strategies to better serve their customers.
NCR
MARCH 12, 2018
Some of the most significant recent trends in financial services – such as the ongoing growth of the mobile channel and the expansion of the fintech market – have demonstrated that the evolution of the industry is being driven by technology. One technology that we can expect to play an increasingly important role in the years to come is predictive analytics.
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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.
PYMNTS
MARCH 12, 2018
When auditing giant KPMG assessed corporate compliance of government requirements to report supplier payment habits, the company made a concerning discovery : Just 17 enterprises in Scotland were adhering to the rules. At the time, KPMG regional advisory practice director Alan Flower told reporters that small businesses will likely be most affected by this lack of compliance.
Payments Source
MARCH 12, 2018
The information you need to start your day, from PaymentsSource and around the Web: Google Pay's next steps, Applebee's breach, digitized rent payments and more.
PYMNTS
MARCH 12, 2018
As cryptocurrencies fuel discussions on forums and news websites, a new version of a Thomson Reuters Corp tool will capture online chatter around bitcoin. MarketPsych Indices will scan more than 400 websites to analyze bitcoin themes and sentiments, Reuters reported. Traders have long analyzed online chatter around traditional investments, and that trend continues with bitcoin, which Reuters will analyze in the tool it runs with MarketPsych Data LLC.
Payments Source
MARCH 12, 2018
In India, tens of millions of merchants still operate largely in cash with a mostly unbanked rural population. Technology could solve their problems, but the bigger differentiator may be in how payment services are sold.
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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.
PYMNTS
MARCH 12, 2018
Ant Financial , the payment affiliate of China’s Alibaba , has seen its consumer lending business reach 600 billion yuan ($95 billion) even as the company faces a stricter environment for securitizing loans in its home country of China. According to news from Bloomberg , citing people familiar with the matter, Ant Financial’s lending division, which provides loans to consumers through its Huabei and Jiebei units, has doubled since the start of 2017 until March 2018.
Payments Source
MARCH 12, 2018
Ant Financial’s consumer lending has reached at least 600 billion yuan ($95 billion) despite the affiliate of Alibaba Group Holding Ltd. facing a tougher environment for securitizing its loans, people familiar with the matter said.
PYMNTS
MARCH 12, 2018
A U.S. district court in San Jose, California, ruled late last week that most of a lawsuit concerning Yahoo’s data breach, which exposed 3 billion users’ personal data, can proceed. According to news from Reuters , U.S. District Judge Lucy Koh dismissed an effort by Yahoo parent company Verizon Communications Inc. to get the claims tossed out, including allegations of negligence and breach of contract.
Payments Source
MARCH 12, 2018
TransferWise, which recently added a consumer-targeted account to its business-to-business services, has selected Wirecard to issue a cross-border debit card for consumers.
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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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