Bank Innovation
MARCH 14, 2018
EXCLUSIVE—Data will continue to be a key trend in 2018, especially as banks and fintechs in the U.S. work to improve the country’s payments infrastructure, which is in need of an overhaul (what else is new). This is according to Derrick Walton, EVP, financial networks for payments technology provider Hyperwallet, who told Bank Innovation that.Read More.
Chris Skinner
MARCH 14, 2018
Things we’re reading today include … A quarter of UK bankers say their job is bad for their health Bitcoin exchange in banking tie-up with Barclays Co-op Bank ‘draws line’ under near-collapse and past scandals with pared-back losses Punjab National Bank’s woes shake confidence in state lenders SocGen deputy chief … The post Things worth reading: 15th March 2018 appeared first on Chris Skinner's blog.
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Bank Innovation
MARCH 14, 2018
EXCLUSIVE— Ripple expects the banks integrated into its new Japanese MoneyTap app will create new businesses and features on the platform, similar to the way companies are doing on China’s most popular mobile payment service, Alipay. Emi Yoshikaw, director of joint venture partnerships at Ripple, told Bank Innovation in an emailed statement: The Japanese government.Read More.
PYMNTS
MARCH 14, 2018
If some is good, more is better. That seems to be the idea among banks both big and small when it comes to APIs , as several players from around the financial services industry recently increased their investment in APIs, rolling out new solutions aimed at making B2B payments more efficient. . But it isn’t all about efficiency. Several financial institutions are turning to APIs to provide their corporate clients with new products and services that deliver flexibility and put them in control. .
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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
MARCH 14, 2018
U.K.-based digital bank Tandem closed a deal to acquire fellow British fintech Pariti, a personal money management app in the country with about 95,000 registered users. Terms of the acquisition were not disclosed. A mobile app that works with a user’s existing bank accounts to track spending—including overdraft fees and credit debt—Partiri was founded in.Read More.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
MARCH 14, 2018
EXCLUSIVE – HDFC (Housing Development Financial Corporation), one of India’s largest private sector banks has banned cryptocurrency purchases from its cards, both credit and debit. In an email sent to its customers yesterday, HDFC notified its users that it will no longer allow cryptocurrency purchases on its credit, debit and prepaid cards. The email read: Read More.
PYMNTS
MARCH 14, 2018
Online ordering: the asset that’s a burden, the blessing that’s a curse, the “Can’t live with it, can’t live without it” of restaurant life. There’s a lot to be said both in favor of and against putting one’s menu online, and particularly on third-party aggregation platforms like Grubhub and Uber Eats. Except, not really — not according to Alex Canter, founder of Ordermark.
Bank Innovation
MARCH 14, 2018
EXCLUSIVE - Online payment service provider PayU is expanding its partnership with digital lender Kreditech by launching a cardless EMIs (equated monthly installments) service for consumers to finance the online purchases in India, a crucial market for both parties. That service is being called PayU Monedo, and as of today is available in beta phase.Read More.
PYMNTS
MARCH 14, 2018
While consumers are still using multiple platforms — such as desktop and mobile — “mobile-only” users are on the rise. In fact, “mobile-only” users surpassed 30 percent of users in almost half of the markets studied by comScore in 2017 for its “ Global Digital Future in Focus ” report. “Global digital landscapes continue to evolve in often surprising ways,” Will Hodgman, EVP of International Sales at comScore, said in a press release.
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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
Bank Innovation
MARCH 14, 2018
Alphabet, the parent company to Google, announced today it would ban advertising for cryptocurrency and ICOs beginning in June. On Jan. 30, Facebook similarly announced it would ban advertisements for crypto and ICOs. As these two companies effectively constitute a duopoly in online advertising, this news casts a shadow over the future of cryptocurrency and ICOs,Read More.
PYMNTS
MARCH 14, 2018
In an effort to attract millennials, Zara plans to integrate augmented reality into its stores this April. The retailer will bring the technology to 120 of its locations around the world, Reuters reported. With the technology, Zara will be able to show models wearing the latest fashions to customers when they put their mobile devices near a sensor within its brick-and-mortar stores or near certain shop windows.
Payments Source
MARCH 14, 2018
While there is a collective sense that data breaches are simply a side effect of our digital existence, there are real costs for the companies impacted. The ones that are hit the hardest are the ones that are least able to weather the fines, remediation costs and lost reputation.
PYMNTS
MARCH 14, 2018
Amazon, the leading eCommerce player, has made a push into the financial market in Mexico, rolling out a debit card this week for the first time ever. With Mexicans reluctant to shop online, Amazon is hoping to encourage more of it by providing a new way to purchase things. According to a report in Reuters, the debit card — called Amazon Rechargeable — is aimed at providing a new way to shop over the Internet.
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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
MARCH 14, 2018
Small-business payments are an inefficient mess of unpaid invoices and paper processes that are causing substantial funds to languish and companies to stagnate. One possible solution is to address the cash flow, not the payment mechanism itself.
PYMNTS
MARCH 14, 2018
“The important thing to remember here is this is a brand-new, very complicated space,” warned John Oliver on last weekend’s episode of “Last Week Tonight.” “Literally nobody knows how it’s going to develop, so you need to be careful.” Oliver was discussing cryptocurrencies and blockchain on his show, highlighting the massive potential the world of FinTech has touted for the last year or so.
Bobsguide
MARCH 14, 2018
The first half of 2018 sees the implementation of two major pieces of regulation – the Payment Services Directive (PSD2, which went live in January 2018) and the General Data Protection Regulation (GDPR, going live in May 2018), both laying important foundations to pave the way for a better.
PYMNTS
MARCH 14, 2018
Kiosks aren’t just for selling tickets or providing customers with another way to order a meal. They can personalize the guest experience too. “Our take on it is that we’re all different,” Bite CPO Steven Truong has said. “Our recognition and learning algorithm allows us to give each guest a different experience — and cater to their personal needs.”.
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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.
Bobsguide
MARCH 14, 2018
If you are considering licensing and implementing a financial software application, you might not think that the underlying programming language is a key concern in your selection process. In fact, it can have a major impact on your ability to get the maximum value from your investment management.
PYMNTS
MARCH 14, 2018
Financial inclusion is no mere buzzword in financial services. Call it life-changing, if done right. Everything for the heretofore unbanked and underbanked can improve – beyond mere wealth. Think health, education, quality of life. Stability. In an interview with PYMNTS, Eddie Grobler, executive vice president of ACH Systems and Integration with Vocalink , noted that financial inclusion can help individuals, families and businesses find surer financial footing on a day-to-day basis.
Payments Source
MARCH 14, 2018
Regardless of some promising uptake numbers numbers, it’s obvious there are still many hurdles to clear before we see ubiquity, writes By Rahul Shah, senior vice president of Global Delivery & Customer Success at Applause.
PYMNTS
MARCH 14, 2018
Unnamed sources have told reporters that Amazon is looking to expand its small business (SMB) financing operations via the rollout of a commercial card for SMBs. Reports in Fortune on Tuesday (March 13) said Amazon, which already has a relationship with JPMorgan Chase to offer consumer cards, is collaborating with the firm to develop a small business credit card for customers that use its eCommerce platform to procure office supplies.
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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.
Payments Source
MARCH 14, 2018
Coinbase Inc., one of the largest cryptocurrency exchanges, said it obtained an e-money license in the U.K. as it expands services in Europe. A local subsidiary also opened an account at Barclays Plc, easing deposits and withdrawal for clients.
PYMNTS
MARCH 14, 2018
U.S. retail sales continue to disappoint in early 2018, with an unexpected drop in February. For those keeping score at home, that represents the third month in a row this has occurred — which all leads to mounting evidence that Q1 spending will show a sharp cool-off after Q4 2017’s freewheeling spending environment. By the numbers, according to news from Bloomberg , sales were down 0.1 percent, as opposed to the 0.3 percent analysts were looking for, matching the decreases logged in February an
Payments Source
MARCH 14, 2018
There is a growing need for professionals who install and support merchant payment systems to be aware of and trained on critical security controls, writes Mauro Lance, chief operating officer of the PCI Security Standards Council.
PYMNTS
MARCH 14, 2018
Bitcoin fell below the $9,000 mark on Tuesday (March 13), MarketWatch reported. With scrutiny from the U.S. Securities and Exchange Commission (SEC), the market is looking bearish to some analysts. Craig Erlam, a senior market analyst at OANDA, said he wouldn’t be surprised if the currency traded at around the $6,000 in mark in the future. Bitcoin was trading at $9,181.95 as of 7:09 p.m., according to CoinDesk.
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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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