Chris Skinner
JUNE 11, 2019
I’m a technology lover. Always have been, always will be. To me, technology is like magic. “Any sufficiently advanced technology is indistinguishable from magic.” Arthur C. Clarke Too damn right Arthur. I love technology. But then I got to thinking about what technology is doing to us. To me and … The post We are the robots appeared first on Chris Skinner's blog.
Payments Dive
JUNE 11, 2019
Giants in retail, banking and the Web are rapidly adopting blockchain technologies. But, will these companies such as Google and Facebook truly dominate blockchain?
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Chris Skinner
JUNE 11, 2019
Things we’re reading today include … Singapore’s Ride-Hailing App Grab Mulls Becoming a Bank JP Morgan’s 180 On Its Stand-Alone Digital Bank Underscores The Adoption Challenges Facing Crypto Banks Are Second, Or Third, Choice For IT Grads, So They Have To Work Harder The heavy cost of policing financial services … The post Things worth reading: 12th June 2019 appeared first on Chris Skinner's blog.
Bank Innovation
JUNE 11, 2019
Robo-adviser Wealthfront wants to become the center of its customers' financial lives. To do so, it's steadily added products beyond its core investment offerings, including a personal finance management tool called Path and banking services. Now, the company is going full circle with its financial offerings by seeking to own the deposit relationships with its […].
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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
PYMNTS
JUNE 11, 2019
Thailand’s Siam Commercial Bank won’t be using Ripple’s XRP technology despite earlier announcements of such plans. According to reports in BlockTribune on Monday (June 10), Siam Commercial Bank (SCB) retracted a previous statement that it was planning to integrate use of Ripple’s XRP token to power cross-border B2B payments.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JUNE 11, 2019
Electronic invoicing and settlement solutions provider PayCargo, which targets the shipping and logistics industry, will integrate payments processing into Unisys Corporation’s Digistics solution, the companies announced this week. A press release issued Monday (June 10) said PayCargo’s payment processing services will be added into air cargo management platform Digistics, enabling corporate users to process payments in real time, as well as to create and schedule payments.
Bank Innovation
JUNE 11, 2019
Upstart lenders, including startups that offer checkout loans, are rattling incumbents. According to a new study commissioned by Divido, a white-label platform for point-of-sale lending, three of four traditional lenders identified losing ground to new entrants like Affirm and Klarna as a top concern for their business. Divido, which is backed by the likes of […].
PYMNTS
JUNE 11, 2019
Netherlands-based Factris is launching an enhanced version of its Finance Automation for Business platform, the company announced Monday (June 10). The Finance Automation for Business, or FAB, platform, aims to connect Europe-based small and medium-sized businesses (SMBs) with financial management solutions including invoice financing and factoring tools.
Payments Source
JUNE 11, 2019
The ride-sharing heavyweights Uber and Grab built their markets by making payments seamless, and their expansion plans are similarly hooked into improving payments and other financial services.
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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
JUNE 11, 2019
Apple Pay has added support for users in the Netherlands and also expanded services for Revolut users , according to reports. The service launched in Luxembourg and Hungary last month, and on Tuesday (June 11) in the Netherlands. All Apple Watch, iPad, Mac and iPhone users can use the service wherever it’s accepted. Apple Pay is supported in the Netherlands by ING, but it’s not clear whether any other banks in the country will support it.
Payments Source
JUNE 11, 2019
By making sure their payment processing solution is compliant, they can save themselves the hassle of declined payments and make sure they’re capitalizing on the expansive European e-commerce market, writes Ralph Dangelmaier, CEO and board member at BlueSnap.
PYMNTS
JUNE 11, 2019
Brex, the credit card startup, announced Tuesday (June 11) it raised $100 million in venture funding, giving the company a valuation of $2.6 billion. In a press release , Brex said the funding round was led by Kleiner Perkins Digital Growth Fund, with participation from all existing major investors including Y Combinator Continuity, Ribbit Capital, DST Global, Greenoaks Capital, and IVP.
Let's Talk Payments
JUNE 11, 2019
Today, the MEDICI team was discussing the progress of the FinTech ecosystem and the impact it has delivered for the communities around the world. An interesting question that came up: why doesn’t the community talk much about FinTechs that work on charity, especially crowdfunding platforms? Why don’t we hear much about FinTech players providing socially-conscious 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.
PYMNTS
JUNE 11, 2019
Marking its 13 th Amazon Go location in the United States, Amazon ’s newest cashierless store has reportedly gone into service. The 1,700-square-foot space, which is in Midtown Manhattan at 300 Park Ave., comes after the online retailer opened one of the concept locations in New York City in a mall, CNBC reported. The newest store is the second location to offer espresso drinks and brewed coffee.
Insights on Business
JUNE 11, 2019
In 1993, Alfie Kohn made a strong case that incentive plans cannot work. In 2012, as part of the Varicent Insight users conference, I had the pleasure of spending the day with Daniel Pink, our keynote that year who gave the example of a Fuller Brush salesman, and that commissions were a thing of the past, also captured in Harvard Business Review. Both Pink and Kohn agree that the outcome of a commission-driven, variable based pay compensation plan, does not provide the results many organizations
PYMNTS
JUNE 11, 2019
Two Hanoi-based FinTech startups, Vimo Technology and mPOS Technology, are merging to create NextPay Holdings, according to reports. The CEO of mPOS Technology, Nguyen Huu Tuat, will become CEO of the new company. Nguyen Hoa Binh, who founded both companies, will be the new chairman. The CEO of Vimo, Do Cong Dien, will become COO of NextPay. The move will help the new company raise money and scale operations, and will help both startups to become stronger in Vietnam ’s growing cashless market, w
Insights on Business
JUNE 11, 2019
Compared to traditional data centers, I believe that cloud computing has several characteristics that make it an attractive platform for risk management. First of all, the compute requirements for risk management can vary over time. Cloud provides the ability to scale up resources during peak periods and scale them back down when they are not needed.
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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
JUNE 11, 2019
With 83 percent of consumers in the U.S. owning laptops and 91 percent owning mobile devices, there’s never been greater opportunity for digital fraud. Total losses due to fraud were a staggering $4.2 trillion in 2018, or slightly less than the gross domestic product (GDP) of Germany. One of the most insidious forms of fraud is account takeovers (ATOs).
Payments Source
JUNE 11, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: New Yorker commuters flock to contactless payments; European software companies develop Bluetooth transit pay; Sberbank and McDonald's team up; Google Pay plans navigation improvements.
PYMNTS
JUNE 11, 2019
The U.S. banking industry is an ever-evolving machine, shaped and disrupted by FinTech, regulation and shifting customer expectations. Until recently, these changes rarely impacted the small business (SMB) financial services (FinServ) sphere: Among the biggest challenges for entrepreneurs is accessing bank services that are smaller than enterprise-level offerings, yet more tailored to their needs than consumer-sized options.
Payments Source
JUNE 11, 2019
Banks and merchants absorb billions of dollars in payment card fraud annually, but it's not for a lack of tools designed to stifle that fraud. It's becoming increasingly apparent that those tools simply aren't being used to their fullest capabilities.
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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
JUNE 11, 2019
Phone numbers, email addresses, usernames and other online signifiers have become vital to digital identity verification, as the world becomes increasingly connected. In fact, a recent study found that cell phone numbers were the fifth-most-important part of respondents’ identities, following Social Security numbers, driver’s licenses, dates of birth and home addresses.
Payments Source
JUNE 11, 2019
The Australian API payments and rewards platform provider Verrency has closed on a $7 million (AU$10 million) Series A funding round, bringing the total funds raised to-date to $14 million (AU$20 million).
PYMNTS
JUNE 11, 2019
Citigroup is teaming up with Grab , the ride-hailing startup out of Singapore, to roll out co-branded credit cards. Reuters , citing Gonzalo Luchetti, Citi’s head of consumer banking for Asia Pacific, Europe, the Middle East, and Africa, reported the aim is to boost Citigroup’s customer base in Singapore by around 13 percent by engaging in in partnerships with digital companies.
ATM Marketplace
JUNE 11, 2019
Access to cash and bank branches is vital in enabling small businesses to thrive, the main three reasons being consumer demand, costs associated with card payment facilities and the services bank branches offer.
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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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