Bank Innovation
NOVEMBER 13, 2017
EXCLUSIVE – British bank Barclays is teaming with fintech startup Flux in a trial that allows users to view digital itemized receipts in real-time. The trial will take place on the Barclays’ Launchpad App, the platform the bank uses to test new features. About 10,000 Barclays Launchpad users will participate in the trial; if successful, […].
Chris Skinner
NOVEMBER 13, 2017
Many people delight in digging up a quote from Bill Gates in the 1990s, when he was talking about banks as dinosaurs and famously stated: “we need banking, but we don’t need banks anymore”. Yay! We can stuff the horrible big, bad banks and replace them with lovely tech. Interestingly, … The post Bill Gates is wrong appeared first on Chris Skinner's blog.
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Bank Innovation
NOVEMBER 13, 2017
EXCLUSIVE—Investors don’t need to wait for Initial Coin Offerings to reach their full potential: this way of raising capital is already redefining how businesses in certain markets can operate, Taynaah Reis, CEO for cooperative banking system company Moeda told Bank Innovation. Moeda conducted an ICO in August 2017, raising $20 million for its blockchain banking […].
PYMNTS
NOVEMBER 13, 2017
Alibaba Group Holding, the Chinese eCommerce giant, saw gross merchandise volume of $25.3 billion for this year’s Singles Day Global Shopping Festival, up 39 percent from a year ago. What’s more, 90 percent of the total gross merchandise volume for the 24-hour shopping event was settled through the company’s mobile payment unit, Alipay. In a press release , the Chinese online retailer said that in 2016, 82 percent of gross merchandise volume was settled through Alipay, underscoring Chinese consu
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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
NOVEMBER 13, 2017
Payments company PayPal has announced a new feature that allows users to crowdsource funding for a personal life event, group purchase, or expense through their PayPal account. The new feature, called Money Pools, allows a PayPal user to create a “page” for the expense in question, where friends and family can then send funds. The […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 13, 2017
China’s Alibaba Group processed nearly 1.5 billion transactions yesterday during its Singles Day shopping event, with most of these transactions taking place over the group’s mobile payment platform, Alipay. During its annual Singles Day event, which took place yesterday, Alibaba recorded sales (or gross merchandise volume, GMV) of $25.3 billion. Of that total, 90% of […].
PYMNTS
NOVEMBER 13, 2017
Smart homes can make a lot of consumers feel dumb. Simply asking Alexa to turn up the music or turn down the heat sounds easy, but the prospect of setting it all up can be daunting, especially when customers may not be sure what to expect from the final experience and whether that is what they really want for their homes. However, that hasn’t put a damper on consumers’ interest.
Bank Innovation
NOVEMBER 13, 2017
The Association of Southeast Asian Nations has formed a fintech network to encourage cross-border collaboration. This ASEAN Fintech Network was launched today at Singapore’s Fintech Festival. The six countries include Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. These six make up the Asean Fintech Network (AFN). According to the announcement, the AFN said it […].
PYMNTS
NOVEMBER 13, 2017
When it comes to payment methods and moving money between parties, knowing how to handle transfers in the most efficient way possible can make or break a transaction and mean the difference between a solid buyer-seller relationship or the end of one. This is true for consumers making payments to companies to obtain retail goods and businesses looking to pay each other for services rendered.
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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
NOVEMBER 13, 2017
The utility for m-transactions will have to manage identity and provide relevant hooks for the movement of sensitive data amongst providers in the trusted ecosystem in real time and on.
PYMNTS
NOVEMBER 13, 2017
The news was full of surprises this week. In the undeniably fun and not-so-serious surprise column was animoji karaoke. We admit, the use case for pandas singing hip hop was something we didn’t quite expect, but are happy to see them, nonetheless. We also had a few surprises on the undeniably more serious side, in the payments and commerce world. Ethereum hiccupped, PayPal pushed into India (and into a direct competition with a hometown hero) and The Federal Reserve decided to take on a reset
Let's Talk Payments
NOVEMBER 13, 2017
Singapore & Bangalore, India – Nov 13, 2017 – Active.Ai, a Singapore-headquartered FinTech platform with an innovation lab in Bengaluru that delivers conversational banking through artificial intelligence (AI), announced a.
PYMNTS
NOVEMBER 13, 2017
Small business owners have a lot on their plates today and, depending on who one asks, top concerns range from taxes to late invoice payments. Amid a wave of new surveys released on small business sentiment, PYMNTS wades through the data to examine how entrepreneurs are handling the array of worries with which they must deal. Luckily, research from Bank of America, Wells Fargo, Capital One and others often point to one thing: Despite the challenges, small businesses are optimistic.
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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.
Insights on Business
NOVEMBER 13, 2017
For institutional investors and risk managers alike, low-yielding interest rate environments represent a challenging investment landscape, in which option-embedded bonds have long represented a return opportunity, with additional risks to consider. A straight bond typically offers investors a fixed coupon paid annually, and a redemption cash-flow paid at maturity.
PYMNTS
NOVEMBER 13, 2017
Walmart has started trialing new digital services in its Mobile County, Alabama supercenter, including ModiFace , a new device that enables customers to digitally test makeup. According to a news report in The Island Packet , John Wimsatt, store manager of the Tillman’s Corner Walmart, said there are fewer than five of these makeup and nail polish testers in stores.
Payments Source
NOVEMBER 13, 2017
For years, American Express has analyzed the more than $1 trillion in annual purchases taking place on its closed-loop network to better advise clients to formulate marketing programs.
PYMNTS
NOVEMBER 13, 2017
While best known as a $16 billion music streaming service, Spotify is expanding its ambitions and diversifying its platform — possibly in preparation for an initial public offering (IPO). That first step toward a wider purview will apparently be makeup. Yes, Spotify wants to help consumers look pretty while rocking out to tunes. The expansion comes care of a partnership with band merchandise provider Merchbar, a company with which Spotify began working last year to sell artists’ merchandise via
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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.
Let's Talk Payments
NOVEMBER 13, 2017
At the FinTech Ideas Festival 2017 held in January, IBM CEO Ginni Rometty discusses cognitive business, recent developments with blockchain and the future of finance. Ginni Rometty’s keynote at the.
PYMNTS
NOVEMBER 13, 2017
Heavy lies the head that wears the omnichannel crown. . According to the latest edition of the PYMNTS.com OmniReadi Index™ , a Vantiv collaboration , the merchants traditionally thought to be the least effective across multiple purchase channels are closing the gap with top-ranking merchants. The Index finds that while the average merchant is better equipped for omnichannel commerce now than they were a year ago, progress has largely been made by those with the thinnest omnichannel resumes.
Payments Source
NOVEMBER 13, 2017
It is important to have the right layers of security in place, ideally those that evaluate passive and behavioral biometrics, as they are proving to be the most reliable, writes Robert Capps, authentication strategist and Vice President of NuData Security.
PYMNTS
NOVEMBER 13, 2017
Can good food restore consumers’ appetite for brick-and-mortar retail? Luxury brands seem to hope so, with several designers introducing food experiences in an effort to gain an edge in the increasingly challenging realm of physical retail. If IKEA and its popular Swedish meatballs are any indicator, the strategy just might work. One of the biggest hurdles in brick-and-mortar retail today is getting customers through the door.
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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
NOVEMBER 13, 2017
Transit transactions will increase card usage and loyalty, and will generate the same sort of reputational boost London enjoys with Oyster, writes Andrey Tikhonov, director of payment technology for Infinite Peripherals.
PYMNTS
NOVEMBER 13, 2017
It seems buying online from Walmart may end up costing a bit more than shopping in-store. According to news from The Wall Street Journal , the world’s biggest retailer has raised its prices for some grocery and household goods sold on its U.S. website, including boxes of Kraft Macaroni & Cheese, Colgate toothbrushes and bags of Purina dog food. The move is not an entirely unheard of play in retail.
Bobsguide
NOVEMBER 13, 2017
MiFID II fixes a number of issues with the original legislation to improve robustness in the soundness of financial systems across member states. It is due to come into effect very soon and organisations have until just 3 January 2018 to get themselves ready for compliance with the directive.
PYMNTS
NOVEMBER 13, 2017
While American retailers are gearing up for the one-two punch of Black Friday and Cyber Monday, the biggest shopping day in China’s year has already come and gone. With a vengeance. Singles’ Day, an informal day of personal shopping that Alibaba has grown to a multi-billion dollar event over the last decade or so, brought in over $25 billion in merchandise sales in 24 hours.
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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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