Chris Skinner
NOVEMBER 26, 2018
Another theme that I talk about regularly, and that came up last week, is the FinTech relationship being like a parent and child. The parent wants safety and security and a nice stable home; the child wants to run around and kick and break everything, and challenge everything the parent … The post FinTech and the Parent-Child relationship appeared first on Chris Skinner's blog.
Bank Innovation
NOVEMBER 26, 2018
The recently released Predictions 2019 guide by research firm Forrester included an epitaph of sorts for 2018, “a year when reality chewed up the transformational ideal.” And what has more potential to be the transformational ideal than artificial intelligence? Everyone’s talking about it, and many are dreaming big. Banks, FIs and fintechs alike are putting […].
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PYMNTS
NOVEMBER 26, 2018
On Nov. 24, holiday consumers and small businesses celebrated the ninth annual Small Business Saturday. The event, created by American Express as an offshoot to Black Friday , brought in an estimated $17.8 billion, according to surveys commissioned by the company. This brings the estimated total spending on the day to $103 billion since 2010, reported Amex.
Bank Innovation
NOVEMBER 26, 2018
2018 has been a challenging year for the peer-to-peer payment service Venmo, owned and operated by PayPal Holdings. While the year saw continued growth in transaction volume, and the launch of new services such as instant cashout (January) and a debit card (June), the year has also seen a significant uptick in fraud, from 0.25% […].
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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
PYMNTS
NOVEMBER 26, 2018
Ohio is leading the charge in terms of accepting bitcoin as a payment method, as it is the first state to accept bitcoin to cover tax bills. According to a report in The Wall Street Journal , reported businesses in the state will be able to go to OhioCrypto.com and register to pay for a range of taxes, from cigarette sales taxes to employee withholding taxes, with bitcoin.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
NOVEMBER 26, 2018
Cubic Corporation announced Monday (November 26) that its Cubic Transportation Systems unit and Transport for New South Wales will expand the contactless payment system to cover Sydney’s train network. In a press release , Cubic said the expanded partnership comes on the heels of successfully bringing contactless payments to the Australian city’s ferries and light rail.
Bobsguide
NOVEMBER 26, 2018
When thinking of robotics and artificial intelligence (AI), many of us will automatically conjure up images of futuristic robots and applications from sci-fi films. However, the reality is very different. In fact, Robotic Process Automation (RPA) and AI are integral to many businesses, allowing for.
PYMNTS
NOVEMBER 26, 2018
Adoption of commercial cards in B2B payments has emerged as one of the hottest industry topics of the year thanks to new FinTech innovations and industry leaders like Visa and Mastercard making a push further into the market. The perpetual hurdle in corporate credit cards, though, is vendor acceptance, which inadvertently became one of the key points of friction addressed by Plastiq.
Gonzobanker
NOVEMBER 26, 2018
Rapid consolidation in the banking industry is creating a growing band of regional banks that find themselves stuck in a solution provider market that isn’t fully capable of serving them. In recent years, technology and digital strategy have become integral parts of the bank shareholder value discussion, yet for the 90 or so banks in the $10 billion to $50 billion asset size range, core providers remain ill-equipped to assist regional banks in enabling the execution of their technology strategie
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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 26, 2018
Blue Apron employees have filed a class-action lawsuit against the company over a variety of alleged labor law violations. According to BuzzFeed News , the suit, filed in October by former Blue Apron employee Rashida Fairley on behalf of all hourly employees, alleges that workers weren’t paid overtime, or for meal breaks, among other violations. The employees are seeking back pay for missed wages and a trial by jury.
Bobsguide
NOVEMBER 26, 2018
Questions around accountability should problem occurs around Open Banking relationships were raised by Jim Wadsworth, UK product director at Mastercard, at a retail banking conference in London this week. “This is different to the Facebook or Twitter world. If Twitter goes down for half an.
PYMNTS
NOVEMBER 26, 2018
With the movement to shop online going on unabated, foot traffic to U.S. stores during Thanksgiving and Black Friday declined year over year. The Wall Street Journal , citing data from RetailNext, reported traffic during the two days in U.S. stores dipped between 5 percent and 9 percent compared with Thanksgiving and Black Friday a year ago. Meanwhile, the paper reported that ShopperTrak found store traffic declined 1 percent compared to last year.
Payments Source
NOVEMBER 26, 2018
More innovative thinking will be needed to achieve competitive advantage and differentiation without breaking the bank, an gaming is an emerging option, according to Simon-Kucher & Partners’ Wei Ke and Wenbo Li.
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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 26, 2018
For most consumers in the U.S., it is not the time of year to think about swimsuits. The weather has turned cold, except for a few perennially sunny pockets – and that means shoppers are much more likely to be considering wool sweaters, hats and socks than hunting down the best possible piece of swimwear. But for the Summersalt team headquartered in St.
Payments Source
NOVEMBER 26, 2018
A year after its launch, Zelle’s P2P payment volume has rapidly expanded through usage at the nation’s largest banks. But enabling smaller institutions to offer it to their customers is proving to be more challenging.
PYMNTS
NOVEMBER 26, 2018
For some consumers, no trip to the gas station is complete without a stop at the convenience store for candy or snacks. And for others, mobile apps can help encourage them to buy these kinds of sundries after filling up at the pump. While apps are used for gas station payments by only 4.5 percent of consumers, this customer base may represent a marketing opportunity for C-stores.
Payments Source
NOVEMBER 26, 2018
As payment stakeholders show an interest in using fingerprint technology to improve identity protection, NEXT Biometrics and MK Group plan to collaborate on biometric smart cards for banking and other applications.
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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 26, 2018
Black Friday sales soared this weekend, with more Americans choosing to skip the crowds and do the majority of their holiday shopping online. Reuters reported that online sales rose more than 23 percent, hitting over $6 billion on Black Friday, according to data from Adobe Analytics. On Thanksgiving, sales grew an estimated 28 percent to reach $3.7 billion.
Payments Source
NOVEMBER 26, 2018
The world’s biggest digital coin began life promising to become “electronic cash,” but bitcoin and its swarm of imitators are slipping deeper into the shadows of traditional payment services.
PYMNTS
NOVEMBER 26, 2018
The United States, through U.S. Deputy Attorney General Rod Rosenstein, is seeking to gain international support in dealing with crimes tied to digital currencies. “We must not allow cybercriminals to hide behind cryptocurrencies,” Rosenstein said at the the annual meeting of Interpol, according to CoinDesk. “In addition, fraudsters use the lure of coin offerings and the promise of new currencies to bilk unsuspecting investors, promote scams and engage in market manipulation.”.
Payments Source
NOVEMBER 26, 2018
An international move or a business expansion can bring on unexpected challenges that existing processing relationships can’t handle, according to Ralph Dangelmaier, CEO of BlueSnap.
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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 26, 2018
Tencent, an internet-based technology company based in China, and LINE, a hugely popular messaging app in Japan, have teamed up to provide payment services for Japanese businesses that want to appeal to the growing number of Chinese tourists in the country, according to the Nikkei Asian Review. LINE is going to lease terminals that can be used with Tencent’s WeChat Pay system, which had 650 million active users as of the third quarter of 2015, as the company reported.
Bobsguide
NOVEMBER 26, 2018
Mention the words artificial intelligence or machine learning and what uncontrollably springs to mind is the fictional endoskeletal, red-eyed Terminator of the same film franchise, followed closely by its fictional creator, SkyNet, the neural communication network that became self-aware. Not your.
PYMNTS
NOVEMBER 26, 2018
Kering is gearing up to offer its own luxury eCommerce sites within the next two years, ending existing joint-venture efforts and bringing such operations in house, reported Reuters. The move means that the company will end its JV that has been in place since 2013 with Yoox Net-A-Porter, which as the newswire stated helps third-party brands develop sites.
Matt Wilcox Pro
NOVEMBER 26, 2018
Fans of the TV series “Seinfeld” will recall an episode in which Jason Alexander’s character, George Castanza, tries to interest Jerry in selling NBC on “a show about nothing.” Seinfeld: So, we go in to NBC, we tell them we got an idea for a show about nothing. Castanza: Exactly. Seinfeld: They say what’s your [.
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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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