Mon.Mar 05, 2018

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Which big banks are most digitally ready?

Chris Skinner

I shared this list of banks that are supposedly the most digital of the large players on twitter the other day: Banco Santander Bank of America Barclays BBVA BNP Paribas Citi DBS Bank Deutsche Bank HSBC JP Morgan Chase RBS Société Générale UniCredit Wells Fargo People came at me, stating … The post Which big banks are most digitally ready? appeared first on Chris Skinner's blog.

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Startup Hoard Invest to Challenge Coinbase with Crypto Exchange Following ICO

Bank Innovation

EXCLUSIVE–Top cryptocurrency exchange Coinbase just got more competition. Several startups are launching marketplaces to rival the crypto giant in the next year. One of those startups, Hoard Invest, a current member of INV Fintech’s Class 4, will launch its beta product, a cryptocurrency exchange platform, in April of this year. The platform will be available.Read More.

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The stepladder of inclusion

Chris Skinner

A last post about financial inclusion and banking. I pondered the thought of how people who get inclusion will gradually rise and upscale to full service banking. I see it almost as a ladder of steps from exclusion to banked as follows: Step One: Financially Excluded (Hawala) These are people … The post The stepladder of inclusion appeared first on Chris Skinner's blog.

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Europe, India Are Ready for Biometric Payments, Mastercard Says

Bank Innovation

EXCLUSIVE -- As hacks and other methods of digital fraud rise with the adoption of mobile payments, companies and consumers continue to search for better ways to authenticate and identity users making payments. For certain markets, adoption could come more quickly than others, Bob Reany, executive vice president, global products and services, identity solutions for.Read More.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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Things worth reading: 6th March 2018

Chris Skinner

Things we’re reading today include … Brits are souring on app-only startup banks Amazon Checking-Account Plan Sees Banks as Partner, Not Prey Shadow banking grows to more than $45tn assets globally Theresa May promises City won’t lose grip on global finance Special Report: Fidelity puts 6 million savers on risky … The post Things worth reading: 6th March 2018 appeared first on Chris Skinner's blog.

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More Trending

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PayPal Files Patent Application To Speed Up Crypto Payments

PYMNTS

PayPal looks to increase the adoption of cryptocurrency as a payment method by recently filing for a patent application. CoinDesk , citing an application with the U.S. Patent and Trademark Office titled “Expedited Virtual Currency Transaction System,” lays out a method by which private keys are traded from buyer to seller in an effort to cut down on the time it takes for payments to go through between a customer and a merchant.

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From dull numbers to smart data: A new era of cash visibility is dawning

Bobsguide

Building on information that is now more readily available than ever before, advances in technology help create new insights for corporate treasurers. For the last decade or so, many treasury departments have focused on getting their hands on the data required for establishing daily, or at least.

Data 76
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Amazon Considers Offering Checking Account-Like Product With Banks

PYMNTS

To create a financial product that would appeal to younger customers and those without a bank account, Amazon is reportedly in talks with big banks like JPMorgan Chase about designing a checking account-like product. The discussions are in the early stages, and there’s no guarantee the product would come to market, The Wall Street Journal reported.

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The re-shaping of correspondent banking: Impacts on banking treasury

Bobsguide

Correspondent banking is gathering a lot of attention these days. It is surprising to see so many changes going on considering that until a few years ago it was lying quietly within the bank’s back-office department without receiving pressures from the external world. Many saw this coming, as.

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The State of Automation in Financial Services 2024 Report

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

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DDoS Attacks With Cryptocurrency Demands Increasing

PYMNTS

Distributed denial of service attacks, otherwise known as DDoS , have now added a cryptocurrency mining twist to the scam, requiring victims to pay the ransom. According to a report in Fortune , Akamai, the internet services company, was looking into the increase in DDoS attacks when it noticed that within the malicious traffic were ransom notes. In one example, a note demanded 50 XMR, or Monero, which is a cryptocurrency.

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The bank as a technology company – is this the future of financial services?

NCR

The banking sector is currently going through one of the most fundamental changes since the creation of the internet. With more competition from emerging fintech players and new technology such as mobile and artificial intelligence demanding banks rethink how they deliver services to consumers, some companies are now looking to question how banks should define themselves in today’s market.

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Brick-And-Mortar Merchants Breathe New Life Into Cabs In Calgary

PYMNTS

Uber Eats or Grubhub ? Postmates or Instacart ? For last-mile delivery, there are several choices for consumers to get take out, household products or their groceries delivered to their doors from a local store by a courier. But by using these third-party services, retailers give up a part of their brand identity. They’re selling goods on another company’s app that shows another company’s branding, after all.

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03.05.18 Your morning briefing

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon's reportedly in talks with JPMorgan Chase to build a checking account; Mexico may adopt open banking; U.K.'s regulatory sandbox may expand; Walmart adds to its delivery strategy; Louisiana investigates unauthorized bitcoin mining.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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ICOs, SEC And Wait And See?

PYMNTS

And so, the SEC might be shorthand for “Scare Every Cryptocurrency Firm.”. News came this past week, and a regulatory shoe of sorts dropped when the U.S. Securities and Exchange Commission issued scores of subpoenas and Requests for Information (RFIs) focused on initial coin offerings (ICOs). On the one hand, the move is hardly unexpected. After all, the regulatory clime has been getting a bit heated for all things crypto based – and as has been seen elsewhere in the world, such as in South Kore

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Marketplace lending's death has been over exaggerated

Payments Source

Online lenders build a seamless customer journey from screening to underwriting to origination to servicing to funding, writes Krista Morgan, CEO and co-founder of P2Binvestor.

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Who’ll Win When Facebook Advertisers Flee?

PYMNTS

Procter & Gamble made headlines last week when its Chief Brand Officer, Marc Pritchard, confirmed that the world’s largest advertiser cut $200 million of digital advertising spend in the last nine months of 2017. That year, P&G’s ad spend totaled $7.1 billion. That wasn’t the big news. The big news was Pritchard’s blunt admission that the reduction in spend had no impact on the performance of P&G’s business.

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As merchants go global, Amex evaluates its role

Payments Source

E-commerce removed many of the obstacles that have long prevented small businesses from selling their wares internationally. Today, those businesses are ready to take advantage of that opportunity.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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NIS America Hit By Data Breach

PYMNTS

Nippon Ichi Software announced news that its American division, NIS America, was the victim of a major data breach that exposed the personal and financial data of online customers. According to the International Business Times , the Japanese gaming developer has offered those affected by the breach special codes for a $5 discount on their next purchase.

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RecargaPay raises $22 million to grow mobile payments base in Brazil

Payments Source

RecargaPay, an eight-year-old mobile payments platform targeting unbanked and underbanked consumers in Brazil, has secured $22 million in funding to reach more users and merchants.

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The Unexpected Commerce Effects Of Lent

PYMNTS

In one of the least romantic coincidences of all time, Lent kicked off on Valentine’s Day this year. One is our annual celebration of romance, lust, passion and chocolate — and the other is a large portion of the population’s annual festival of feeling bad about excesses of all kinds. There is really no good way to celebrate them both at the same time.

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Amazon and JPM: It's not about banking, it's about payments

Payments Source

As with most of the company's inventions, an Amazon checking account would more deeply embed customers into an Amazon ecosystem that provides an endless flow of data and efficiencies.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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.

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Foot Locker Looking To Shutter 100 Stores

PYMNTS

Foot Locker is the latest in a long line of retailers drastically reducing their store counts and slashing underperforming locations to cut costs, according to Business Insider reports. Those closures will be somewhat balanced out by approximately 40 high-profile store openings, with the goal of the closures to limit the company’s exposure to malls that are no longer able to draw foot traffic.

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An MCX vendor revives the multi-merchant wallet idea with a new focus

Payments Source

Though the Merchant Customer Exchange failed to deliver a consumer-facing mobile wallet for its mega-retailer backers, Buy It Mobility Networks (BIM) says the underlying technology it provided is still sound.

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Tip The Juggler? There’s An App For That

PYMNTS

Spend a summer night in a city, and you’re bound to encounter a sleight-of-hand street magician or a dance troupe prompting passersby to gather around. In the subways, singers and keyboardists’ sounds cut through the pedestrian bustle. Elsewhere, human statues blend in with the city’s stonework, making distracted onlookers do double-takes. All these performances are funded in largely the same way — with a hat passed around or an instrument case propped open for easy collection of audience dollar

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Equifax, USMC breaches call for more monitoring and credit freezes

Payments Source

Breach investigations can be very lengthy and it is not uncommon to disclose additional findings over a period of time, writes Mounir Hahad, head of threat research at Juniper Networks.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.