Payments Dive

JANUARY 15, 2019

Automakers from Honda to GM and Hyundai see mobile payment technology as a key component in developing connected car technology.

Technology 374

Technology Payments Mobile 374

Chris Skinner

JANUARY 15, 2019

Another key factor in building a truly digital bank is commitment. Commitment right from the top and, by the top, I don’t just mean the CEO and the leadership team, but the Board of the bank. Quite often, a digital transformation of a bank requires years of commitment during which … The post Doing digital needs the Board’s mandate appeared first on Chris Skinner's blog.

Leadership 250

Leadership Digital Banking 250

Bank Innovation

JANUARY 15, 2019

The financial services company American Express today acquired the Japanese restaurant-booking app Pocket Concierge for an undisclosed amount. The startup is a graduate of 500 Startups Japan. Over the past two years, there has been a developing rapport between restaurant/food services companies and the payments industry. For card issuers such as American Express, rewards and cash […].

Fintech 186

Fintech Cards Industry Payments 186

PYMNTS

JANUARY 15, 2019

Online retail and mobile commerce had their shining moments over the 2018 holiday shopping season — the latest evidence of that comes from Adobe Analytics , which said that U.S. consumers spent a record $126 billion online during that period, above the company’s earlier projection. The new figure comes amid fresh questions coming out of that holiday season about the viability of brick-and-mortar retail sales.

Data 197

Data Retail Online United States 197

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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

Lending

Bank Innovation

JANUARY 15, 2019

Citigroup CEO Michael Corbat touted roughly $200 million in cost savings the bank found in 2018 by going digital and taking on other related initiatives. It seems $200 million is only the beginning. Corbat said the bank will potentially reap $500 million to $600 million in incremental savings each of the next two years. That […].

Technology 186

Technology Operations Digital Banking Cards 186

Bank Innovation

JANUARY 15, 2019

JPMorgan Chase & Co. saw an impressive 11% year-over-year growth of active mobile users, now totaling over 33.2 million, the bank disclosed today. To put that growth into perspective, Wells Fargo today revealed 7% YOY growth in active mobile users during that period. For JPMorgan Chase, this growth adds up to 2 million new users over […].

Mobile 170

Mobile Operations America Online 170

PYMNTS

JANUARY 15, 2019

Bitcoin investors took a massive hit in 2018 – and, according to personal finance company Credit Karma, most of them don’t realize they can write off the losses on their tax returns. According to a report in MarketWatch , citing Jagjit Chawla, general manager of tax at Credit Karma, U.S. investors lost $1.7 billion in bitcoin investments last year and had unrealized losses of more than $5 billion.

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Taxes Bitcoin cryptocurrency Survey 179

Bank Innovation

JANUARY 15, 2019

Wells Fargo & Company saw modest growth in online and mobile customers in its fourth quarter earnings report released today. The bank had 29.2 million active digital (online and mobile) users as of the fourth quarter of 2018. That’s up 1% from 29 million last quarter and 4% from 28.1 million in the fourth quarter of […].

Mobile 170

Mobile Online Report Company 170

PYMNTS

JANUARY 15, 2019

From hardware to software, from cash registers to digital wallets, the way commerce is done at smaller firms (SMBs) is changing, especially as mobile makes inroads into the way we pay. In an interview that springboarded the findings of the Retail Innovation Readiness Index , published late last year, Nicky Koopman, vice president of content and value-added services at AEVI , stated that when it comes to apps, one maxim holds true: One size does not fit all.

Innovation 173

Innovation social media Retail Mobile 173

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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

Report

Ron Shevelin

JANUARY 15, 2019

About one in 10 US consumers holds some form of cryptocurrency. Who are these people? They might not be who you think they are.

cryptocurrency 135

cryptocurrency US 135

PYMNTS

JANUARY 15, 2019

In medicine, it seems there is a side effect for every treatment. The Affordable Care Act (ACA), or Obamacare , which was signed into law in 2010, is no exception. The purpose of the ACA was to make healthcare more accessible to more people by, among other provisions, eliminating barriers for those with preexisting medical conditions. However, one of the unintended side effects of the ACA was that many health insurance providers began offering high-deductible plans that result in higher patient

Payments 160

Payments Survey Report Data 160

Payments Source

JANUARY 15, 2019

Just a few years ago, tech companies imagined a world where Bluetooth beacons would push alerts to consumers' smartphones as they walked by a store or navigated its aisles. The tech isn’t gone, but it’s become more subtle in how it's being used.

Samsung 91

Samsung Company Mobile Retail 91

PYMNTS

JANUARY 15, 2019

With the new year now up and running, it’s becoming obvious that a few big sea changes are underway. Physical retail, as we knew it, is looking pretty dead. But the path to financial inclusion in the developing world is alive, well and widening. The connected car ecosystem is not quite ready to roll just yet – but the signs that it is the shape of things to come for 135 million American consumers is becoming undeniable.

Data 155

Data Retail Mobile Online 155

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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.

Lending

Payments Source

JANUARY 15, 2019

Although most consumer-facing financial institutions now offer mobile applications, that doesn’t mean that they are ready for a world where smartphones are the primary point of contact with their customers, writes Rune Sorensen, a product manager at Nets.

Mobile 90

Mobile Management Regulation Fintech 90

PYMNTS

JANUARY 15, 2019

U.K. challenger banks Tide and ClearBank are teaming up to apply for a portion of the $1 billion made available by Royal Bank of Scotland (RBS) to promote banking competition, Tide announced Monday (Jan. 14). Together, Tide, which targets small and medium-sized businesses (SMB) with its financial services, and clearing bank ClearBank have applied for a portion of the Pool A funds of the Capability and Innovation Fund, part of the RBS Alternative Remedies Package.

Risk Management 150

Risk Management Innovation Marketing Fintech 150

Payments Source

JANUARY 15, 2019

Credit unions and smaller banks can differentiate themselves by returning to the passion for personal service that first anchored their success, and payments are central to this strategy, according to Deborah Matthews Phillips, managing director of payment strategy at Jack Henry.

Community Bank 71

Community Bank Community Payments Strategy 71

PYMNTS

JANUARY 15, 2019

Pony.ai, the Chinese driverless car startup, rolled out a new app that lets users get a ride from a self-driving taxi. According to a report in CNBC , the app rolled out in December, enabling users to hail a driverless taxi from a location in Nansha, a district of Guangzhou in Southern China. The rides are free to the current crop of users. Pony.ai is reportedly the first company to enable users to call a self-driving taxi.

Software 149

Software Report System Company 149

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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.

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Payments Source

JANUARY 15, 2019

Revel Systems has entered into a non-equity strategic partnership with global payment processor Worldpay to create and deliver a more comprehensive set of payment solutions for Revel customers.

Fintech 67

Fintech System Payments 67

PYMNTS

JANUARY 15, 2019

S&P Dow Jones Indices and Experian released data through December of 2018 on Tuesday (Jan. 15) that showed default rates across all loan types increased from November. According to the S&P/Experian Consumer Credit Default Indices , which the companies said in a press release represent a comprehensive measure of changes in consumer credit defaults , the composite rate rose six basis points from December to 0.89 percent.

Los Angeles 148

Los Angeles Miami Dallas Chicago 148

Payments Source

JANUARY 15, 2019

The information you need to start your day, from PaymentsSource and around the Web. Today: U.K. forms new financial crime unit; Salesforce adds AI; UnionPay opens to developers; Fiserv lures sports pay network.

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67

PYMNTS

JANUARY 15, 2019

As FinTechs eye growth, and look to gain scale by providing more “mainstream” financial services, might those plans hit a speed bump when it comes to the infrastructure needed to bring products to the masses? Reuters reported early Monday (Jan. 14) that the Federal Reserve, the U.S. central bank, is getting a bit worried about sharing some of the financial infrastructure with tech upstarts such as OnDeck Capital and Kabbage , a sense of caution that the newswire said puts the bank “at odds with

Fintech 148

Fintech St. Louis System Regulation 148

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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.

Compliance

Payments Source

JANUARY 15, 2019

Visa is working with handbag designer Rebecca Minkoff to debut a global program to fuel networking among women business owners, while also connecting them to companies in the Visa ecosystem such as Square and Yelp.

Company 63

Company New York Georgia Retail 63

PYMNTS

JANUARY 15, 2019

TD Ameritrade, the Omaha, Nebraska online brokerage, announced Tuesday (Jan. 15) that it now enables customers to instantly fund a brokerage account with Apple Pay via an Apple Business Chat in the Messages app on iPhone and iPad. In a press release , TD Ameritrade said it was the first in the industry to do this, noting that to fund brokerage accounts, investors typically have to wait for several days while the funds are verified or sent via a wire transfer.

Apple 144

Apple Omaha Nebraska Industry 144

ATM Marketplace

JANUARY 15, 2019

At the Bank Customer Experience Summit last fall, Andrea Boone, executive director of FSO digital at EY, spoke with Tim Tang, director of enterprise solutions at Hughes, about the role of the digital studio in helping clients design customer services and experiences to be delivered across both physical and digital touch points.

Customer Experience 64

Customer Experience 64

PYMNTS

JANUARY 15, 2019

Healthcare done digitally is attracting the attention and the dollars of tech giants, linking them with brick-and-mortar players in a push to meld tech and retail. In the latest evidence of strategic alliances – notably targeting Amazon ’s movement into healthcare – Microsoft said Tuesday morning (Jan. 15) that it had struck a seven-year agreement with Walgreens Boots Alliance.

Retail 143

Retail Course Trends Data 143

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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.

Lending