Payments Dive
NOVEMBER 15, 2019
Andy Vitale, head of user experience design at SunTrust, says creating a mobile banking expereince for customers is about learning how they use their devices both in and out of the bank. He said that customers in banking, as opposed to e-commerce, actually want a little bit of friction before they complete their transactions.
Bank Innovation
NOVEMBER 15, 2019
Alberta Investment Management Corporation (AIMCo) is one of Canada’s largest and most diversified investment managers, committed to finding the best investment opportunities from around the world for its clients. To support its strategy of employing innovative, best-of-breed applications via a service-oriented architecture, it has chosen to use Nutanix Enterprise Cloud.
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PYMNTS
NOVEMBER 15, 2019
The popular video app TikTok is testing out a new feature that will give certain video creators the option to add links to videos for eCommerce purposes, according to a report by The Wall Street Journal. The move would allow the growing app to earn an additional stream of revenue outside of advertising. Right now, the new feature is only available to a few top creators.
Bank Innovation
NOVEMBER 15, 2019
Fayetteville, Ark.-based Arvest Bank is using underwriting tools from TransUnion to assess current customers on their suitability for financial products in the future. The bank, which has more than $19 billion in total assets, is trying to reach customers who might not currently qualify for the loans based on their traditional FICO scores. Instead, Arvest […].
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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
Accenture
NOVEMBER 15, 2019
Today, the vast majority in the industry have heard the term Open Banking, but what does it really mean? The answer isn’t as simple as many people might think. In the UK and Ireland, we mostly use the term when referring to regulation introduced on the back of the EU’s PSD2. Globally, however, the term…. The post Open Banking is already here. Open data is just beginning. appeared first on Accenture Banking Blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
NOVEMBER 15, 2019
Key Takeaways Effective credit risk review promotes lending agility. Many of the objectives of a credit risk review system support business goals. Keys to effective loan review are independence, sufficient standing in the organization, and adequate funding. Regulators consider an effective loan review system vital for financial institutions’ efforts to meet safety and soundness standards.
Bank Innovation
NOVEMBER 15, 2019
Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, November 15, 2019. In this episode, Suman Bhattacharyya, deputy editor, and Angely Mercado, associate editor, discuss the following news developments: How banks and payments companies are adding social and messaging features to compete with startups; How FICO is fighting […].
Accenture
NOVEMBER 15, 2019
It was our honor to represent Accenture at the 2019 Eurofinas & Leaseurope annual conventions last month in Budapest and facilitate the panel, “Making Online Platforms Work” As we explored the impacts of the digital revolution on auto and equipment lending and leasing with other industry leaders, we were struck by five key developments: The….
Bank Innovation
NOVEMBER 15, 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 […].
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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
NOVEMBER 15, 2019
Earlier this week, Nike announced it will no longer sell its wares on Amazon, instead opting to follow a growing trend in eCommerce where companies sell directly to consumers (DTC). On Friday (Nov. 15), internet entrepreneur Tim Armstrong said Nike’s move was the “tip of the iceberg,” and that an increasing number of companies will opt to ditch Amazon and sell their products themselves, according to a report by CNBC.
Payments Source
NOVEMBER 15, 2019
Jack Ma, the co-founder of Alibaba Group Holding Ltd., said African entrepreneurs will find countless opportunities in e-commerce, logistics and e-payments as the continent prepares for the start of a free-trade deal.
PYMNTS
NOVEMBER 15, 2019
Though credit cards were not originally designed to address the needs of corporate payers, advances in commercial card technology have positioned the payment tool as one that’s gaining traction in the accounts payable department. The ability to pay suppliers more quickly, without letting go of an extra few days of capital float, is quite attractive to both vendors and corporate buyers.
Payments Source
NOVEMBER 15, 2019
The cryptocurrency world is seeing a surge in the issuance of gold-backed tokens, with some of the digital-asset industry’s biggest and most controversial participants joining in on the fresh gold rush.
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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
NOVEMBER 15, 2019
Against the backdrop of Open Banking, and in an effort to compete, financial institutions (FIs) must give consumers the ability to share their data with third parties, including FinTech firms. FIs, in turn, must also protect the security and integrity of that data, while giving consumers a sense of control over how and where it’s being used. That’s been a tough line for most FIs to walk, Dave Fortney, executive vice president of product management and strategy at The Clearing House (TCH), told K
Jack Henry
NOVEMBER 15, 2019
Most of us have heard of the seven deadly sins, but did you know there are also seven potentially damaging actions or inactions that can lead to credit loss? Lenders of all types should consider this list throughout every stage of the loan cycle and for all types of credit. These sins can show up at any time. While in some cases they are the primary cause of a credit loss, they are more likely what causes a loss to be greater than it otherwise would have been had the situation been handled diffe
PYMNTS
NOVEMBER 15, 2019
Apple is pulling all 181 vaping -related apps currently available on its App Store as health concerns mount over vaping-related illnesses and 42 vaping-related deaths, Axios reported on Friday (Nov. 15). The App Store has never allowed the direct sale of tobacco or vaping cartridges, but the ban applies to apps that offered vaping-related games, social communities and other content. “We take great care to curate the App Store as a trusted place for customers, particularly youth, to downloa
Payments Source
NOVEMBER 15, 2019
Modern technology is making it easier for fraudsters to trick consumers into believing they are making payments from their accounts to legitimate providers, but governing bodies in the U.K. are putting the brakes on rushing to create a new fund to compensate victims of those scams.
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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
NOVEMBER 15, 2019
Cashless payments firm USA Technologies (USAT) is expanding its partnership with amusement kiosk operator National Entertainment Network (NEN) to bring expanded cashless payment options to more vending machines and devices, the companies announced in a press release on Friday (Nov. 15). NEN will utilize USAT’s NFC-capable ePort Connect cashless payment platform on 5,000 additional vending machines over the next year.
Payments Source
NOVEMBER 15, 2019
The $10 billion legal U.S. cannabis industry is expected to reach $25 billion in annual revenues over the coming years, yet much of how cannabis bought and sold in the U.S. is still cash-based, with a few creative alternatives. In Canada, it's a completely different story.
PYMNTS
NOVEMBER 15, 2019
Walmart Canada has developed a blockchain-based network to facilitate logistics operations and payments, the company announced in a press release Thursday (Nov. 14). In collaboration with blockchain technology firm DLT Labs, Walmart Canada announced the development of a freight and payment network that allows participants on the platform to gain visibility into various logistics processes, including delivery tracking, transaction verification, and payments and reconciliation automation between W
Payments Source
NOVEMBER 15, 2019
Pakistan, Thailand build national pay systems; EZ-Link seeks Singapore bank license; and other information you need to start your day, from PaymentsSource and around the web.
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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
NOVEMBER 15, 2019
Welcome to the PYMTS Weekender, where we recap the week’s biggest development in payments and commerce. This edition includes news about Facebook’s new payments push, Amazon’s new robotics plan and why Google is working more closely with financial institutions. The Weekender also includes the latest original research from PYMNTS. Top News. Facebook Launches ‘Facebook Pay’ For Cross-App Payments.
Payments Source
NOVEMBER 15, 2019
Lawmakers in Germany have passed a law that would require Apple to open the iPhone’s NFC chip to other mobile payment providers.
PYMNTS
NOVEMBER 15, 2019
The director of the Financial Crimes Enforcement Network (FinCEN), Kenneth Blanco, said on Friday (Nov. 15) that the U.S. government is going to strictly oversee the implementation of rules that would force crypto exchanges, marketplaces and digital wallets to identify their customers when they do transactions over a certain monetary threshold, according to a report by Reuters.
Payments Source
NOVEMBER 15, 2019
Fraud attacks and their avenue of entry are generally regarded as mysteries to most of the companies that suffer from them.
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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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