Fri.Oct 27, 2017

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Survival of the most adaptable

Chris Skinner

Wrapping up thoughts on #Money2020, the Vegas show is by far the biggest of this monster event organising company. I’m guessing there were around 15,000 folks there this year, and everything but everything was being covered: AI, machine learning, mobile wallets, core banking, distributed ledger, blockchain, cryptocurrencies and just about … The post Survival of the most adaptable appeared first on Chris Skinner's blog.

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HSBC Glitch Locks Out UK Customers, Leads to Twitter Complaints

Bank Innovation

U.K.-based bank HSBC experienced a glitch earlier this morning that locked some customers in the region out of their accounts, with customers then taking to Twitter and other social media to complain. Detected early this morning, the glitch left the bank’s customers unable to get into their online or mobile bank accounts, with attempts to […].

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Innovation moves mobile-ATM alliances forward

Payments Dive

As easy as it might be to perceive a yawning divide between mobile banking and more traditional, physical banking at the branch and ATM, it's becoming increasingly clear that these channels can function in harmony and complement one another.

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New Payment APIs, Tez Growth, Mobile Expansion Could Point to Bigger Fintech Ambitions for Google

Bank Innovation

EXCLUSIVE— Is Google looking to become a fintech power? The company, which reported strong results for its third quarter yesterday, seems to be expanding its focus on finance, specifically on platforms that integrate or otherwise support payments and mobile technologies in its many markets. For instance, while Google did not release numbers for its mobile […].

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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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NovoPayment Launches API Platform In Latin America

PYMNTS

Earlier this month, NovoPayment , a digital finance and transactions firm, announced news of the launch of its Developer Hub, one of the first such platforms servicing Latin America, according to a press release. NovoPayment, based in Miami, offers financial and transactional services through a cloud-based platform, the company said. Its clients include banks, financial institutions and others throughout the Americas.

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Hackers Are Using Compromised Computers To Generate Bitcoin

PYMNTS

Hackers are using virus-infected consumer computers to generate bitcoin, according to news from The Wall Street Journal. Unknowing users may be having their processing power commandeered to mine the virtual currency. Cryptocurrencies need large computer networks to process transactions, and users are encouraged to join the network through the promise of newly minted digital currency.

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ING Bank Creates ING Ventures, Focuses €300M Fund on Fintech

Bank Innovation

Dutch bank ING has created its own fintech venture fund, ING Ventures, which the bank will use solely to invest in fintech companies. The €300 million ($347.5 million) fund will be part of the bank’s innovation office, heralded by ING’s head of fintech, Benoit Legrand. The fund will expand ING’s focus on partnerships, according to […].

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TRENDING: Are Smart Lights The Key To Creating Smart Cities?

PYMNTS

Connected tech has become a staple of modern life. Everything from our cell phones to our homes and even simple appliances now come with embedded Intelligence of Things (IoT) technology. And, that IoT-enabled technology is increasingly being woven into the fabric — both literally and figuratively — of places and products that have the potential to be transformed.

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Goldman Sach’s Marcus: Partnerships Beyond Intuit

Bank Innovation

EXCLUSIVE- With two products and a recently announced partnership with tax preparation software provider Intuit, Marcus by Goldman Sachs is keen on growing its brand through more new partnerships and products in 2018. “The future of finance is not technology,” Harit Talwar, head of Marcus by Goldman Sachs, said at Money 20/20 in Las Vegas. “The […].

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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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AIs Sizzle, ICOs Fizzle And Fraudsters Find A Way To Ruin Everyone’s Week

PYMNTS

Sizzle of The Week: Fraudsters. And for the record, making “fraudsters” a sizzle isn’t because we think it’s a good thing to do – but, unfortunately, they have earned it. And they’ve earned it not for lack of effort on the part of fraud and security professionals. Many of the best and brightest minds across payments, financial services, fraud and risk spend the vast majority of their time trying to find and fix the weak links that fraudsters could exploit for their own devious means.

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London defends post-Brexit fintech turf from rival hubs

Payments Source

London is battling other cities, which are trying to use the political uncertainty of the U.K.'s exit from the European Union to lure payment startups and other financial technology companies.

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Is Amazon Looking To Grow Medical Device Business?

PYMNTS

While it seems it’s only a matter of time before Amazon enters the pharmaceuticals market, one Wall Street analyst is predicting that the eCommerce giant is also looking to grow its professional medical device business. Amazon was granted wholesale distribution licenses in several states earlier this month. According to news from CNBC , Jefferies analyst Brian Tanquilut pointed out that Amazon’s business-to-business medical device web page was posted during the same period.

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Innovations in Financial Services at Money2020

Cisco

Artificial Intelligence. Blockchains. Biometric identification. Regulation. Intuitive design. Inclusion. Globalization. Future banks without a balance sheet. These were all the big topics discussed this week at Money20/20 in Las Vegas and innovation was everywhere, but what was very apparent was that the innovation is occurring at a faster and faster pace.

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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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The Frightful Five: Facebook And Google Join The ‘Pay’ Club

PYMNTS

Amazon, Apple, Facebook, Google and Microsoft: Together, these tech giants are the Frightful Five, and they’re always up to something. From Amazon headquarters suitors and the iPhone X to Facebook and Google payments and Microsoft’s attempt at a smart speaker, we bring you each company’s top stories of the week — just in case you missed it. Amazon. 238 cities in the U.S., Mexico and Canada submitted proposals to become home to Amazon’s second headquarters — a status that would bring the winning

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Amazon – The Horseman of the E-Pocalypse [Curated Content]

Let's Talk Payments

Amazon is nothing short of a modern business wonder – the company is aggressively entering industries with no limit in sight. Amazon started off selling books out of Bezos’ garage.

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Q3 US GDP Rises Even Amid Hurricanes

PYMNTS

Through ill winds — literally — the U.S. economy managed to grow significantly in the third quarter, as measured by gross domestic product (GDP). According to news from The Wall Street Journal and via data by the Commerce Department, GDP was up 3 percent on an annual basis for the three months that ended in September, a number which beat the consensus estimate of economists polled by the WSJ.

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Interest rates| blockchain use cases | cross-border payments: AFP 2017 key takeaways

Bobsguide

Rising interest rates, excitement around blockchain use cases and cross-border payments were all hot topics at this year’s AFP conference in San Deigo. The annual event was situated in sunny San Diego’s conference centre which was abuzz with educational talks and booths touting.

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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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Prime And Alexa Scores, Amazon Stock Soars

PYMNTS

Amazon’s investors got a bit of an early Christmas present this year, as a big beat on the Street earnings expectations for Q3 shot the stock price way up in after-hours trading. Q3 is normally a heavy investment period for Amazon, leading into the always active Q4 holiday rush, so analysts were expecting smaller profits. But North American sales growth was strong, as were Amazon Web Services – and both were enough to blunt the Q3 spending blues, offering a nice lead-in to a strong outlook for t

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Editor's picks: the highlights of Sibos 2017 and Money 20/20

Bobsguide

Following two weeks packed with travelling and conferencing for the bobsguide team, the editor picks the best highlights of Sibos and Money 20/20; the largest events in digital finance this year. Sibos 2017: The emergence of SWIFT gpi and the future of correspondent banking. Alex.

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Volkswagen Launches HeyCar, An Online Platform For Used Car Sales

PYMNTS

Volkswagen has launched an online platform for used car sales, Reuters reports. The news is part of an ongoing effort to increase the company’s share of used car sales in Germany. The company intends to double its portfolio of credit, leasing and insurance contracts by 2025, which would be 30 million units, according to the report. On Thursday, Volkswagen Financial Services announced it had created the HeyCar platform.

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Creating a state-of-the-art office of finance from scratch

Bobsguide

How Electra Private Equity changed its modus operandi with cloud ERP deployment. Bringing your finance function in-house after years of outsourcing and creating a CFO role from scratch does not need to be a daunting task. If you build a fully digital function, making use of the latest technology.

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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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Things To Know: How To Avoid Abandoned eCommerce Carts

PYMNTS

For merchants, getting customers to visit their websites is difficult enough. Getting customers to stay and make a selection is even tougher. It’s frustrating, then, when a shopper goes through the process of browsing a merchant’s catalog, choosing a product and putting it in his or her shopping cart only to abandon the process before the checkout is complete.

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6 ways the gig economy is innovating payments

Payments Source

The gig economy is one of the most demanding business sectors in terms of technology, speed and security. All of these factors play into how these companies handle payments.

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FinServ Frustration Pushing Entrepreneurs To Try Something New

PYMNTS

By now, there’s no denying it: Small businesses (SMBs) aren’t happy with the service they’re getting from large financial institutions (FIs). Only a few months ago, researchers at FIS found that SMBs lament the lack of options for high-tech products and services offered by their banks, with 14 percent of small businesses surveyed having already switched their financial service provider in the last year.

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Retailers can't thrive without emerging payment tech partnerships

Payments Source

Since e-commerce an digital payments' inception, the state of the retail industry has been fluid, always facing new challenges and battles, writes Erik Morton, vice president of strategy and corporate development at CommerceHub.

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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.