Chris Skinner
APRIL 13, 2018
I don’t often blog about investment banking as it bores my readers who are cool and trendy retail bankers and geeks, mainly, but keep coming back to this article about JPMorgan’s Best Execution AI engine, LOXM. LOXM’s job is to execute client orders with maximum speed at the best price, … The post AI and Best Execution: the Investment Bankers’ Dream Team appeared first on Chris Skinner's blog.
Payments Dive
APRIL 13, 2018
Retailers must be aware of what's changing in payments to better serve their customers. That was the overarching message to retailers from a group of executives on a panel at the recent Oracle Industry Connect in New York City.
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Bank Innovation
APRIL 13, 2018
Small business banking company Kabbage is set to acquire startup Orchard Platform Markets, a provider of lending data and services, it was reported yesterday. The transaction, as yet unconfirmed by Kabbage and Orchard, would integrate Orchard’s technology into Kabbage’s platform, with some Orchard employees set to move to Kabbage’s New York office. Plans for the […].
Chris Skinner
APRIL 13, 2018
Things we’re reading today include … Investing app Stash partners with Green Dot to expand into banking Senator slams bank gun policies, threatens consumer complaint Regulators push to shrink big banks’ rainy-day fund by $121 billion Zopa creates new boards in governance shake-up ahead of bank launch Goldman boss: Brexit … The post Things worth reading: 13th April 2018 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
APRIL 13, 2018
Berlin-based challenger bank N26 will be opening its services to users in the United States and the United Kingdom by the end of this year, founder and chief executive officer Valentin Stalf told Reuters today. The bank, which was officially launched in 2015, currently has a German banking license, allowing it to operate in other […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
APRIL 13, 2018
EXCLUSIVE- The Canadian banking startup Koho was looking for ways to engage its customer base. Its engineers were also looking for a side project. What they came up with was a way to make billpay easier, and a bot, called Kbot, to smooth the way. The Toronto-based startup, which demoed at Bank Innovation 2015 in Seattle […].
PYMNTS
APRIL 13, 2018
This week’s VC Investment Roundup demonstrates investors’ varied appetite for B2B FinTech. Funding targets this time around included blockchain, logistics, alternative finance, artificial intelligence and T&E — with a few startups taking a stab at some of the biggest problems in the cannabis industry, procurement and microfinance. Take a look at which firms from around the world landed new funds this week, and how they plan to deploy the cash.
Bank Innovation
APRIL 13, 2018
EXCLUSIVE— Mobile banking customers continue to flock to JPMorgan Chase, a growth attributed to the bank’s focus on customer loyalty, Marianne Lake, chief financial officer for the bank, said today. Digital customers are “more loyal, they spend more money, make higher deposits and investments,” Lake said this morning during the bank’s Q1'18 earnings call, where […].
PYMNTS
APRIL 13, 2018
To enable mobile payments, the Washington Metropolitan Area Transit Authority (WMATA) is working with its fare payment vendor to upgrade its payment capabilities. WMATA seeks to be “mobile ready” by 2019, the agency said in a statement. “Mobile fare payment is the future of transit, giving customers the ability simply to tap their phone and go, all without stopping at a fare vending machine or using a separate card,” Metro General Manager Paul J.
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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
APRIL 13, 2018
EXCLUSIVE – Wells Fargo plans to shut down 300 branches this year and about 5,000 branches by 2020, as the bank sees a surge in digital adaption from its customers, CEO Tim Sloan said on today's earnings call. San Francisco-based Wells Fargo saw a 13% increase year over year increase in its customers’ digital usage […].
PYMNTS
APRIL 13, 2018
Trust might be considered the most valuable of intangible assets. Without it, relationships from the romantic to the economic fall apart. And in a recently launched endeavor by LinkedIn co-founder Eric Ly, now co-founder of Hub, trust rendered digitally may get a boost from blockchain. Ly spoke with PYMNTS’ Karen Webster about the blockchain initiative, in which individuals can use tokens to carry encrypted personal data to other parties – and only the parties they want to see that data.
Bank Innovation
APRIL 13, 2018
Just when you thought big FIs were starting to shy away from cryto-trading, Sowa Labs, a subsidiary of German retail investment exchange, Boerse Stuttgart, announced today that it has developed a prototype app for secure trading in cryptocurrencies. The app is called Bison. It is scheduled to roll out to public in fall this year. […].
PYMNTS
APRIL 13, 2018
Featuring pictures of the food that customers could be eating is an effective way for restaurants to draw eyes (and orders) to menu items they want to push, especially add-ons and upsells. A good menu takes this into account and is rich with imagery featuring its best, most delicious-looking items — but it’s impossible to include pictures of everything.
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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
APRIL 13, 2018
This editor's picks is all about real use cases of blockchain in the financial industry, in preparation for our live podcast on Monday 16th at 10:30am "How long until blockchain makes a telling contribution to financial services?" Together with IBM, Barclays and exciting.
PYMNTS
APRIL 13, 2018
After raising $660 million from more than 30,000 investors in an initial coin offering (ICO), the team behind Vietnam-based Modern Tech has disappeared. The company ran an ICO for its Pincoin token before rolling out another token dubbed iFan, TechCrunch reported. The organization had offered bonuses to users who brought others to the platform. While the company had paid those bonuses in cash, the company began paying the bonuses in iFan tokens starting in January.
Payments Source
APRIL 13, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: China's version of Amazon Go grows quickly; The cops end a blockchain event in Beijing; Mastercard's hiring AI experts; Will tariffs make POS hardware more expensive?
PYMNTS
APRIL 13, 2018
Traditional brick-and-mortar retailers are flocking to digital channels to avoid going out of business. Oddly enough, at the same time, many digitally native brands are doing the opposite — not to avoid bankruptcy, but to accelerate growth. Retail apocalypse skeptics have been saying it for some time: Brick-and-mortar retail isn’t dying; it’s just changing.
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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
APRIL 13, 2018
Since payments are often integrated directly into business tools, it's time for ISOs to take a deeper look at the new landscape and re-evaluate business strategy, according to Angelo Grecco, chief business development officer at CardConnect.
PYMNTS
APRIL 13, 2018
As regulators seek to impose a $1 billion penalty on Wells Fargo over mortgage fees and car insurance, the bank said on Friday (April 13) that its first-quarter earnings are subject to change, The Financial Times reported. “The CFPB [Consumer Financial Protection Bureau] and OCC [Office of the Comptroller of the Currency] have collectively offered to resolve for an aggregate of $1bn in civil money penalties,” the bank said.
Payments Source
APRIL 13, 2018
By any measure, if Visa can trim more than two weeks off a chargeback dispute, it should help merchants and cardholders. But like many efforts to improve the payments market, it won't be an easy change.
PYMNTS
APRIL 13, 2018
It was a record-breaking first quarter for retailers in the U.S. and around the world – but unfortunately, they were not the kinds of records that any business really wants to break. According to a report issued by Moody’s earlier this week, the retail sector managed to notch a record number of defaults during Q1 2013, with nine retailers defaulting on their debt.
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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
APRIL 13, 2018
Developers will struggle to create apps that can be used seamlessly across institutions unless banks can learn to share programming data in a consistent way.
PYMNTS
APRIL 13, 2018
The Litecoin Foundation is making a second attempt at debit cards, City A.M. reported. According to a tweet from the creator of Litecoin, Charlie Lee, the foundation is working with TenX to bring the card to market. And bitcoin reached a two-week high on Thursday (April 12), Reuters reported. Other cryptos fared well, too, such as Ethereum and Ripple.
Payments Source
APRIL 13, 2018
Driving an Uber car isn't like many other jobs, and drivers' payments and expenses are also very different. Much of those differences are built on Green Dot technology, and the bank is ready to see if its platform can work for more than just Uber.
PYMNTS
APRIL 13, 2018
To boost its decentralized mobile browser and Ethereum wallet, Coinbase has acquired Cipher Browser. The terms of the deal were not made public, TechCrunch reported. Coinbase already has a similar product called Toshi. With the deal, Coinbase plans to merge the Cipher Browser and Toshi teams. Peter Kim, the founder of Cipher Browser, will take the helm as head of engineering at Toshi.
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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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