Bank Innovation
OCTOBER 11, 2019
As customers navigate through TD Canada Trust’s digital banking platform, the bank is looking to data analytics tools to make customer experiences more relevant. With reams of data on customer behavior, TD turned to Canadian tech company Flybits five years ago, and it’s looking to grow its capabilities to personalize digital banking experiences.
Payments Dive
OCTOBER 11, 2019
Tim Tang, director, enterprise solutions at Hughes, sits down with Gil Strickland, vice president, product management at BBVA USA, to talk about customer expectations for online and mobile banking during the Bank Customer Experience Summit in Chicago.
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Bank Innovation
OCTOBER 11, 2019
A company that operates quietly in the background of popular financial apps and platforms is taking steps to become more visible. While large consumer-facing fintech companies like Square, Klarna, Affirm and others tout speed and efficiency of their user experiences, card issuing and processing startup Marqeta‘s technology supports their payment capabilities, with its APIs allowing […].
PYMNTS
OCTOBER 11, 2019
For central banks, when it comes to cryptocurrencies, there’s no central theme. Whether the advent of digital coins signifies an existential threat to monetary policy at its most basic level – the way it’s been done for, well, centuries – depends on who’s weighing in on the subject. Some central banks are embracing the concept. Others, not so much. Yays and Nays.
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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
OCTOBER 11, 2019
Banks and digital lenders may be throwing their weight behind point-of-sale loans instead of credit cards, but personal loan company Upgrade is launching a product that straddles both product categories. The Upgrade card, launched Thursday, functions like a credit card at checkout, but purchases are turned into payment plans that can last one, two, three […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
OCTOBER 11, 2019
Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, October 11, 2019. In this episode, Suman Bhattacharyya, deputy editor, discusses the following news developments: Why a trio of financial startups have decided to expand into savings and/or checking accounts; and How point of sale lenders like Affirm are […].
PYMNTS
OCTOBER 11, 2019
Salesforce is rounding out its offering for online sellers with the addition of Lightning Order Management, reports in Retail TouchPoints said this week. The publication reported Thursday (Oct. 10) that Salesforce’s new order management function targets integration of the order process, including fulfillment and customer service. The tool fits within the existing Salesforce Commerce Cloud suite of services, which include inventory management, order updates and return tools.
Payments Source
OCTOBER 11, 2019
As regulatory pushback against Facebook's Libra cryptocurrency has accelerated, keeping the project together has become a major challenge, with Visa, Mastercard, Visa, eBay and Stripe joining PayPal in leaving the project.
PYMNTS
OCTOBER 11, 2019
After one of the busiest weeks of the year for B2B startup venture capital funding, this week revealed a bit of a lull in the market. Still, investors placed more than $368 million into the space, often in the form of Series B rounds for a range of B2B players, including fleet management, small business (SMB) banking and global payments. It was an SMB InsurTech startup, however, that led this week’s roundup, and brought the market its newest unicorn.
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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
Payments Source
OCTOBER 11, 2019
Rapid-fire acquisitions, partnerships and investments in the likes of Uber, Lyft and Grab are transforming these ride-sharing providers. And much of this activity is built on their ability to handle payments seamlessly as part of the experience.
PYMNTS
OCTOBER 11, 2019
It’s hard to imagine a world without credit cards. After all, there were close to 480 million of them being used by U.S. consumers as of the fourth quarter of 2018, up more than 100 million since the Great Recession of 10 years ago. And credit card debt reached $870 billion at the end of last year, setting a new record. Believe it or not, the concept of “credit cards” has been around for a long time.
Payments Source
OCTOBER 11, 2019
The information you need to start your day, from PaymentsSource and around the web. Today: Salesforce bolsters ordering; Mastercard extends its reach in Africa; Caixabank ramps up use of AI; Standard Cognition acquires computer vision technology.
PYMNTS
OCTOBER 11, 2019
Pay local — on a global scale. To that end, Flywire said at the end of last month that it has partnered with JCB International in a relationship that provides international students in Asia with options as they make cross-border tuition payments. In a PYMNTS interview with Karen Webster, Ryan Frere, vice president of global payments at Flywire , said the partnership “opens up 13 currencies across the network we can allow payers to choose when they use JCB cards to pay tuition.”.
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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.
Payments Source
OCTOBER 11, 2019
Install payments and other financing options can offset the cost of health care, says InstaMed's Chris Seib.
PYMNTS
OCTOBER 11, 2019
Spending on technology is expected to keep rising, and is projected to reach $1.69 trillion this year, which is 5.3 percent higher than last year. The International Data Corporation (IDC) has released its semiannual Worldwide Connected Consumer Spending Guide , which shows that technology spending will stay strong through 2023, reaching $2.06 trillion with a five-year compound annual growth rate (CAGR) of 5.1 percent. “Advances in technology continue to drive what ‘convenience’
Payments Source
OCTOBER 11, 2019
Payroll advance provider Branch has partnered with Mastercard and Evolve Bank & Trust to offer a debit card that allows hourly workers to instantly access a portion of their earned wages ahead of their periodic paycheck.
PYMNTS
OCTOBER 11, 2019
The value of online payments for all transactions is set to blow past $6 trillion by 2024, and much of this money will be spent via person-to-person (P2P) marketplaces. However, the more comfortable consumers grow with online payments and marketplaces, the harder it becomes for platforms to keep them satisfied. Marketplaces need to be able to provide users with as much support, security and speed as possible when it comes to the payment experience.
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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
OCTOBER 11, 2019
Italian banking group Intesa Sanpaolo has made a €7 million ($7.8 million) investment in MatiPay, an Italian cash acceptance network that leverages wireless vending machines.
PYMNTS
OCTOBER 11, 2019
Today in the payments news roundup, Alipay says it will ban bitcoin and digital currency-related transactions. Also, Shopify has rolled out a gig marketplace focused on retailers. And Domino is collaborating with Amazon Wedding Registry to launch an interactive and shoppable experience. Alipay Bans Crypto Transactions. Alipay says it will be banning any transactions related to bitcoin and other digital currencies.
SWBC's LenderHub
OCTOBER 11, 2019
If your financial institution works with a third-party vendor for your collections efforts, you know how important it is to ensure your partners perform at an optimal level. To properly evaluate whether your outsourced partner is performing at a high level, it’s wise to understand their company procedures and establish agreed upon benchmarks to measure their performance.
PYMNTS
OCTOBER 11, 2019
After serving in the position for over two years, FTC Bureau of Competition Director Bruce Hoffman will be leaving the agency in November. FTC Chairman Joe Simons announced his intention to appoint Ian R. Conner, currently deputy director of the Bureau of Competition, to succeed Hoffman, according to an announcement from the FTC. Simons said in the announcement, “Bruce has done an outstanding job leading the FTC ’s vigorous antitrust enforcement efforts for the last two years.
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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.
ATM Marketplace
OCTOBER 11, 2019
As banks strive to offer customers good online experiences, they often partner with a variety of fintechs. But how do they ensure that their apps are secure?
PYMNTS
OCTOBER 11, 2019
Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies to launder approximately $2 trillion annually. Banks are scrambling to match cybercriminals’ pace, and some are adapting quicker than others. Five Dutch banks recently formed a group to protect their systems against money launderers, but only after three of them shook off fines and anti-money
ABA Community Banking
OCTOBER 11, 2019
The FCS, America’s least known government-sponsored-enterprise, has an excessively complex and increasingly obsolete organizational structure. Simplifying the structure of the FCS would improve its operating efficiency, which presumably would benefit its member/borrowers, while strengthening the FCA’s safety-and-soundness regulation of the FCS. The post Restructuring the Farm Credit System—Why Now and How to Do It appeared first on ABA Banking Journal.
PYMNTS
OCTOBER 11, 2019
In the digital age, it’s become easier than ever for companies of all sizes to broaden their reach and sell to new markets. But along the way, global digital sales also carry a host of regulatory hurdles when it comes to satisfying various tax regimes. Richard Asquith, vice president of Global Indirect Tax at Avalara , told PYMNTS in a recent interview that eCommerce tax policies are fragmented when viewed across the international stage — and they’re about to get even more challenging.
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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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