Payments Dive
AUGUST 23, 2019
Recently launched public transit trials in New York, Miami and elsewhere are showing huge potential for digital wallets and contactless cards in driving widespread adoption for mobile payments.
Bank Innovation
AUGUST 23, 2019
Confirming a customer’s identity is an ongoing pain point for banks and financial institutions around the world. It’s an even bigger challenge for countries that have high underbanked populations like Sierra Leone. According a recent estimate from the Sierra Leone government, just 20% of its citizens have a bank account, which perpetuates a chicken-and-egg problem […].
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PYMNTS
AUGUST 23, 2019
One common criticism of bitcoin and other cryptocurrencies is that — beyond the wild price swings and uncertain regulatory climate — the digital coins are not widely accepted by merchants on any grand scale. This means, of course, that using cryptos in commerce is, thus far, a limited proposition. Against that backdrop, payments network Flexa said earlier this summer that it had expanded its reach into Canada with its SPEDN cryptocurrency wallet.
Bank Innovation
AUGUST 23, 2019
While student loans are a necessity for many American students, international students face the additional hurdle of a lack of credit access. Washington, D.C.-based MPOWER is trying to solve this problem by offering international students loans based on future earnings potential. MPOWER, which was founded in 2014, makes credit decisions based on the reputation of […].
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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
AUGUST 23, 2019
When it comes to payments, speed isn’t the only factor to consider in the deployment of real-time payments (RTP) systems. Security and compliance are also vital components in ensuring that payments are delivered safely and without delay. To compare payment rails to real-life rails, no rail passenger wants to travel faster without assurance that they are traveling safely.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
AUGUST 23, 2019
eCommerce is ever faster — and consumers want what they want — now. That means for the firms shipping all manner of goods across all manner of verticals need to track inventory and supply chains in real time. Technology is the key to speed. To that end, software and robotics firm GreyOrange said earlier this month that the company had forged partnerships with eight warehouse firms in the United States.
Payments Source
AUGUST 23, 2019
Amid success stories like Apple Pay, Google Pay and the Starbucks app, there are many wallet apps that failed to gain traction — or squandered it when they did. But there is a lot to learn from their experiences.
PYMNTS
AUGUST 23, 2019
The World Bank announced it has raised $33 million from investors for its blockchain-based “Kangaroo” bond, Bond- i. The bond, which is due August 2020, is the first bond created, allocated, transferred and managed through its life-cycle using distributed ledger (blockchain) technology. It is issued in Australian dollars by non-Australian organizations, including governments, businesses, and financial institutions.
ATM Marketplace
AUGUST 23, 2019
Cash is the quicker choice. The average cash payment transaction at the point of sale takes only around 22 seconds, 7 seconds faster than the average card and PIN payment and a whole 16 seconds quicker than a typical card and signature transaction.
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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
AUGUST 23, 2019
B2B marketplaces are seeing increased investments, as seen in recent funding activity spanning a variety of verticals, for a total of $18.5 million in venture capital. Ratelt. As reported by The Business Times , in Singapore, Tin Men Capital, a venture capital firm focused on B2B tech startups, led a $5 million Series A funding round to invest in RateIt.
Payments Source
AUGUST 23, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon invests in incentive marketing in India; Ripple adds discount transfer company to network; More signs PSD2's migration is going poorly; New technology emerges for rental payments.
PYMNTS
AUGUST 23, 2019
Online marketplaces for everything from retail goods to travel services to hospitality need to ensure a quick and easy way for both buyers and sellers to transact with each other— or risk losing both sides to a waiting host of competitors. These marketplaces also need to make sure that payments, however quick, remain safe and secure as fraudsters continue to hammer at the gates.
Payments Source
AUGUST 23, 2019
Mastercard Inc.’s European unit formally notified Belgian and German data-protection regulators of a data lapse concerning a loyalty program, officials said on Friday.
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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
AUGUST 23, 2019
Belgian and German data protection regulators were notified by Mastercard of a possible data breach, Bloomberg reported on Friday (Aug. 23). The breach was first noticed on Aug. 19 and “affected a large number of data subjects,” the Belgian watchdog said in a statement. The leak involved 90,000 customers’ names, addresses and credit card numbers. Mastercard said in a statement that the incident “has no connection to Mastercard’s payment transaction network … there was an event involving the Spec
Payments Source
AUGUST 23, 2019
The Financial Action Task Force’s recent guidance on data privacy regulations should serve as a warning to companies planning to test virtual currencies.
PYMNTS
AUGUST 23, 2019
One of the most fertile grounds for disruption in this digital world — ongoing, significant disruption that promises to impact one of the most important engines of the economy — is the world of home selling and buying. And more and more players are trying to gain an edge in that area of commerce and payment by, essentially, making bigger bets on what those home buyers and sellers really want.
Jack Henry
AUGUST 23, 2019
Throughout much of 2019, the economic debate has been whether the US economy would enter a recession in the next year or two. In the short term, it appears that the economy keeps moving along, albeit more slowly in some industry sectors. Most economists are predicting slower GDP growth in 2020 than the previous 2 – 3 years. That brings challenges for commercial lenders that wish to grow their loan portfolios during the next twelve months.
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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
AUGUST 23, 2019
To help advise its financial services business as one global team, Walmart has added two new global governance leaders. Emma Waddell will join the company as vice president of financial services compliance, while Joe Rodriguez will serve as lead counsel of financial services, per news from the retailer. “As Walmart transforms through innovation and investment to save customers time and money, we are continually adapting our organization to ensure we have the right talent and structure in place,”
Cisco
AUGUST 23, 2019
The global asset finance and leasing industry is a sector that now exceeds $1 trillion and has witnessed phenomenal growth over the past four decades. Financial service providers continue to de-risk their lending environment and traditional lenders are less likely to offer finance in the face of strict regulatory requirements. As a result, organizations and individuals at every scale have had to turn towards alternative financing models to enable the continued growth and optimization of their op
PYMNTS
AUGUST 23, 2019
Groupon’s chief financial officer has stepped down. The Chicago-based company revealed that CFO Michael Randolfi, who has been with the company since 2016, is resigning, effective Friday (Aug. 23), to pursue another opportunity. “The CFO was more than just a CFO,” said Tom Forte, a senior research analyst at D.A. Davidson & Co., according to The Wall Street Journal.
The Paypers
AUGUST 23, 2019
(The Paypers) The Payments Association of South Africa and the South African Banking Risk Information Centre have stated that no security breaches in local SWIFT systems have been reported.
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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
AUGUST 23, 2019
An Indian court has ruled that people in the country can’t link Aadhaar (unique identification) or any other government-issued identification with their social media accounts, according to reports. . One Justice in India named S. Manikumar said that doing so would violate a Supreme Court ruling in the country which says that IDs can only be used for government welfare operations. .
The Paypers
AUGUST 23, 2019
(The Paypers) The Dutch National Bank has granted 2Checkout , a global monetisation platform for global businesses, a PSD2 Payment Institution license.
PYMNTS
AUGUST 23, 2019
Blockchain firm Pundi X has announced that Venezuela’s largest chain of department stores will implement the XPOS, the blockchain-powered point-of-sale device, across its 49 stores around the country. Traki customers will be able to use various cryptocurrencies as payment options for the retailer’s products. “Traki has been one of the early adopters of cryptocurrencies in Venezuela, which highlights its commitment to improve the traditional financial system,” Zac Cheah, co-founder and CEO of Pun
The Paypers
AUGUST 23, 2019
(The Paypers) More than 5.3 million new accounts belonging to cardholders from 35 US states have been put on sale on a popular underground store that sells card data stolen from hacked merchants.
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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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