Bank Innovation
DECEMBER 6, 2017
INV Fintech, the sister accelerator to this site, announced its fourth class of startups today. The six companies were chosen from among a wide array of applications from across the globe. Here are the five companies of Class 4 of INV Fintech: Bloxable: Bloxable provides decentralized solutions for lending origination and the securitization of mortgages […].
Chris Skinner
DECEMBER 6, 2017
Things we’re reading today include … China’s debt levels pose stability risk, says IMF Mifid II impact on investment banking ‘exaggerated’ Bitcoin to start futures trading, stoking Wild West worries UK banks have 2m customers stuck in permanent overdraft ‘Dear Mark Carney… capitalism stinks’: Bank complaint letters revealed The Queen’s … The post Things worth reading: 7th December 2017 appeared first on Chris Skinner's blog.
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Bank Innovation
DECEMBER 6, 2017
EXCLUSIVE – Authentication solution provider Hypr has received a sizable investment from Mastercard to expand its technology to Mastercard’s ecosystem as well as major banks and financial institutions. The New York-based Hypr announced today that it received an additional $2 million on a Series A funding, first announced in October 2017. Today’s round was led […].
PYMNTS
DECEMBER 6, 2017
As the financial services industry takes a look back at 2017, a few milestones stand out: the progress of faster and instant payment initiatives. The evolution of blockchain-based services. Collaboration between FinTechs and banks. And, much to the relief of corporates, the continuing focus on B2B payments innovation. Businesses have begun to shed the notion that they are slow to embrace new technologies, and that means the disruptive services and solutions coming out of the financial services s
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Bank Innovation
DECEMBER 6, 2017
Payments company Worldpay is partnering with Swedish payments services provider Klarna on enabling users to make invoice and credit based payments at point-of-sale checkouts. This partnership will not only enhance Worldpay’s offerings to its users, but will also help Worldpay’s e-commerce customers to improve their conversion rates by up to 20%, according to today’s announcement. […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
DECEMBER 6, 2017
EXCLULSIVE—Payments platform Adyen will now support popular Chinese mobile payment service WeChat Pay at the point-of-sale for Adyen merchants, the fintech announced today. As part of the company’s “unified commerce” solution, the capability is an expansion of Adyen’s previous integration with WeChat, which allowed consumers to use the payment method for online goods.
PYMNTS
DECEMBER 6, 2017
The potential for commerce applications to be embedded in a car’s dashboard is great. Who hasn’t fantasized about owning a car that can be told to pay for its own gas at the pump or buy the driver a cuppa job at the drive-thru without having to tap, swipe or really even touch anything? Unfortunately, the gap between that potential and the real-world experience is also great, as voice-activation expert and Sensory CEO Todd Mozer told Karen Webster in a recent conversation.
Bank Innovation
DECEMBER 6, 2017
EXCLUSIVE – U.S. Bancorp saw a major spike in its Zelle transactions in the past four months, according to CEO and president Andy Cecere. U.S. Bank, the fifth largest retail bank in the U.S., saw a 104% increase in Zelle transactions in the past four months and a 50% increase in customer enrollment for Zelle over […].
PYMNTS
DECEMBER 6, 2017
The porch pirates have returned for another season of holiday suburban swashbuckling. For those unfamiliar with the term, porch pirates are thieves who cruise neighborhoods looking for unattended eCommerce orders. According to new data from security firm Ring , about 20 percent of eCommerce shoppers have been the victims of porch piracy during the holiday shopping season.
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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
DECEMBER 6, 2017
London-based neobank Starling Bank has officially received regulatory approval to open its “marketplace app store” for customers, the bank announced yesterday. The move will allow Starling customers to access a range of third-party financial products via the marketplace, which could include loans, investment products, and other services offered by the fintechs joining the platform.
PYMNTS
DECEMBER 6, 2017
Walmart is changing its name — its legal name, that is. According to news from The Wall Street Journal on Wednesday (Dec. 6), the big box retailer is making the switch from “Wal-Mart Stores Inc.” to simply “Walmart Inc.”. The update to the company’s legal entity takes effect Feb. 1, 2018 and reflects Walmart’s new focus on eCommerce and competing with Amazon, among other goals.
Bobsguide
DECEMBER 6, 2017
A year after Spiros Margaris last spoke to bobsguide, we invited him back to see whether his predictions for 2017 had come true. We also talked about whether ageism is an issue in fintech and what exactly is needed to make a successful startup, as well as which ingredients make the best.
PYMNTS
DECEMBER 6, 2017
The European Court of Justice, the court of last resort in the EU, has ruled that luxury good makers may ban the sale of their products on eCommerce platforms like Amazon to maintain the exclusivity of their brands. The ruling comes after German luxury cosmetics group Coty — the parent behind brands like Calvin Klein and Marc Jacobs, among others — sued to keep its goods from being listed on non-authorized digital sale platforms, according to Wednesday U.S.
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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
Let's Talk Payments
DECEMBER 6, 2017
The rise of FinTech has already had huge implications for the financial services industry. From digital currency to digital deposits, financial services organizations are having to divert from their old.
PYMNTS
DECEMBER 6, 2017
It’s a scary and exciting time for meal kits. As every other kind of commerce moves online, food and grocery have likewise been migrating in a digital direction – and why not? Consumers can buy shoes, books, coffee pots, linens and dog toys online, so why are they still going to the grocery store for the same dozen eggs and gallon of milk they buy every week?
Payments Source
DECEMBER 6, 2017
The biometric data, broken up into shares, is persisted separately in off-chain storage that can be controlled and sealed via blockchain references for integrity and provenance, writes James Stickland, CEO of Veridium.
PYMNTS
DECEMBER 6, 2017
Data from secure payments enabler EMVCo shows that 58.9 percent of card present transactions, measured globally, were EMV chip-enabled, the technical body said Wednesday. That tally comes from card-present contact and contactless transactions that were monitored globally and spanned the period between July 2016 through June of this year. EMVCo said the 58.9 percent EMV-enabled finding outpaces the prior year’s 42.4 percent rate.
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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
DECEMBER 6, 2017
While consumer adoption of mobile payments remains sluggish, research behind the scenes to figure out what consumers want from mobile apps is brisk. Proprietary mobile apps from retailers are becoming a hotspot of development, with Target Corp. rolling out Target Wallet this week, joining numerous other retailer mobile apps.
PYMNTS
DECEMBER 6, 2017
India-based alternative lender Indifi Technologies is targeting B2B startups with its latest financing service. According to news from Business Standard on Tuesday (Dec. 5), Indifi is rolling out an invoice discounting line of credit, a debt financing solution designed specifically for B2B startups to accelerate cash flow. The service enables these Indian startups to access financing against their unpaid invoices to their larger corporate customers.
Payments Source
DECEMBER 6, 2017
Because their businesses operate mostly with cash with little financial record keeping, the nearly 100,000 kiosk owners in Kenya have no way to qualify for traditional loans and lines of credit offered by banks. Plus, the kiosk owners have no mechanism to place stock orders directly with a wholesaler.
PYMNTS
DECEMBER 6, 2017
PNC announced it is now live on The Clearing House’s real-time payments network RTP, according to a press release published on Tuesday (Dec. 5). The financial institution (FI) has linked into RTP in the U.S. via Finastra ’s Fusion Payments, a payment services platform. PNC customers can now gain access to real-time transactions, the release said. “RFP enables PNC to bring a new, leading-edge solution to market as the economy becomes increasingly digital,” said PNC EVP and Head of Product Managem
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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.
Payments Source
DECEMBER 6, 2017
Debit and credit both have their downsides, but both of those downsides disappear if you stay up to date with the latest fraud prevention and chargeback management practices, writes Suresh Dakshina, president of Chargeback gurus.
PYMNTS
DECEMBER 6, 2017
Stitch Fix’s recent initial public offering ( IPO ) didn’t quite live up to expectations. The target IPO price was $18 to $20 a share. Instead, its stock opened at $16.90 — and, by the end of the day, the price came in at $15 a share. Day two wasn’t much better. The share price “broke issue” and closed below its $15 IPO price. It was rough going, particularly for a firm that had valued its stock at $22.61 a year ago in a buyback.
Let's Talk Payments
DECEMBER 6, 2017
While one of the primary goals of technology is to extend and enhance the quality of services across industries to existing and previously overlooked customers, sometimes, tech innovation can have.
Payments Source
DECEMBER 6, 2017
Recent data breach events in September 2017 in the U.S., involving the stock value drop of Sonic as well as Equifax are evidence of the negative impact of data breaches on the economic value of businesses. Clearly, they have become incidents of board level importance, writes Justhy Deva Prasad, chief data partner at Claritysquare.
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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.
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