Payments Dive
MARCH 15, 2019
Jim Kander, Spectralink's director of sales, Retail Americas, explains why retailers that are eager to go mobile CX need to do more than simply deploy a mobile device or solution. They'll need to create a more collaborative and customer-centric partnership.
Bank Innovation
MARCH 15, 2019
For most of the past decade, the fintech sector seemed to have nothing but blue skies ahead. But over the last 12 months, warnings that first signaled in 2016 have been flashing brighter. CEO scandals, pulled IPOs and sinking stock prices, have taken the luster off previously high-flying brands. Big banks have finally woken up […].
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PYMNTS
MARCH 15, 2019
Here’s an exercise that may come off as too academic – like a debate over how many angels fit on a pinhead – but is really among the most vital for not only PYMNTS readers, but pretty much any other business operators: What is the perfect payments experience? That question formed a hook for a recent PYMNTS discussion between Karen Webster and Kurt Bilafer, executive vice president and chief revenue officer at Yapstone.
Bank Innovation
MARCH 15, 2019
The need for speed is here to stay. Customer demand is driving FIs to move to a realtime payments system, and quickly, according to panelists at the Bank Innovation Ignite 2019 conference in Seattle this week. "The payment systems that we all run today, they've worked and they've been rock-solid," said Matt Wilcox, SVP of […].
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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
MARCH 15, 2019
Anxieties that automation will replace humans have waned in the accounting sector, as industry players begin to realize that technology can actually help accountants play a more important role for their small business (SMB) customers as advisors and guides, rather than replacing their roles outright. With the first tax season post-tax reform nearing completion in the U.S., the small business accounting sector has seen even more evidence that the advisory role of SMB accountants remains of promin
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
MARCH 15, 2019
The U.S. Commerce Department is expanding its Trade Finance Advisory Council (TFAC), having recently appointed 21 new members to the group in an effort to explore innovation in and access to trade finance. Among the new members is blockchain company R3, according to Bitcoin Exchange Guide reports on Thursday (March 14), which will be represented in the Council by the firm’s Head of Trade and Supply Chain Alisa DiCaprio.
Bank Innovation
MARCH 15, 2019
Wells Fargo & Co.’s leaders have repeatedly assured the public its aggressive sales culture is gone after quotas led workers to foist unwanted products on clients. Now another problem is festering: low productivity. The bank, which employs more people than any other in the U.S., generated about $330,000 of net revenue per employee last year, […].
PYMNTS
MARCH 15, 2019
Some of the largest global financial institutions are taking steps further into Mexico’s small business lending and finance space, the result of heightened competitive pressure imposed by FinTechs and alternative lenders in the market, reports in the Wall Street Journal said Thursday (March 14). The publication pointed to Goldman Sachs as the latest FI giant to grow operations in Mexico, after it provided a $100 million credit facility to Credijusto, a FinTech startup that makes three-year
Insights on Business
MARCH 15, 2019
Senior executives at financial services institutions have expressed the need for a stronger link between compliance and risk as stories of improper conduct and regulatory requirements for AML, sanctions, customer fairness, data protection and privacy continue to dominate the business headlines. In particular, there is a growing need for a smarter approach to meeting the increasingly complex body of regulatory obligations facing financial institutions.
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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
MARCH 15, 2019
Score one for the Midwest: Verizon said this week (March 13) it will launch its 5G network in Chicago and Minneapolis on April 11. The announcement from the mobile network provider serves as the latest demonstration that 5G is coming, and that retailers and payment services providers should get ready to operate in the 5G world. It’s probably too much to say that 2019 will be the year of 5G – deployments and use cases, especially in retail and payments, are unlikely to hit a critical mass this ye
CFPB Monitor
MARCH 15, 2019
The CFPB has filed a request in the District Court for the Southern District of New York to enforce a civil investigative demand (“CID”) against the Law Offices of Crystal Moroney, P.C. (“LOCM”), a debt collection law firm located in New City, New York, continuing under Director Kraninger the CFPB’s pursuit of law firms despite the fact that such entities are generally exempt from the CFPB’s enforcement authority under section 1027(e) of Dodd-Frank.
PYMNTS
MARCH 15, 2019
Money laundering is a major threat in the United Kingdom , one some watchdogs say is not being taken seriously enough. As a major player in cross-border banking and global finance, the country doesn’t just need to combat domestic financial crimes: It is also at risk of becoming a hub for transmitting and investing criminal funds obtained overseas. .
Payments Source
MARCH 15, 2019
The U.S. is considering sanctions that would effectively prohibit Visa Inc., Mastercard Inc. and other financial institutions from processing transactions in Venezuela, an administration official said, a step aimed at cutting off funds to Nicolas Maduro’s regime.
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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
MARCH 15, 2019
According to a new study by Amazon, improved access to digital tech could help rural businesses add 360,000 full-time jobs and contribute an additional $140 million to the U.S. economy. The study, carried out by the U.S. Chamber of Commerce, founded that some 20 percent of U.S. SMBs bring in 80 percent of their revenue via digital sales. The study found that 55.2 percent of 5,300 rural business owners agreed that eCommerce helps them grow their customer base, 54.6 percent said digital tools hav
Payments Source
MARCH 15, 2019
A proactive and preventive security strategy will go a long way to building consumer trust and ensuring continued loyalty, writes Maria Allen, global head of financial services for Unisys.
PYMNTS
MARCH 15, 2019
In today’s digital payments ecosystem, businesses, banks and consumers alike want access to their money as fast as possible. While person-to-person (P2P) payment solutions and real-time payment platforms are making the quick exchange of funds possible, fraudsters also see an opening to exploit these systems’ vulnerabilities. While the faster speed of payments is clearly appealing for users, there is now less time available to catch fraudsters as they attempt to steal funds.
CFPB Monitor
MARCH 15, 2019
Less than a week after warning subpoena and CID recipients to take their obligation to respond “seriously,” the FTC took aim at perceived inadequacies in compliance reports submitted pursuant to FTC consent orders and litigated judgments. In its March 11, 2019 blog post , the FTC’s Bureau of Competition alleges that “some Respondents are not taking seriously their responsibility to provide detailed and timely” compliance reports that demonstrate compliance with the obligations imposed in FTC Ord
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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
MARCH 15, 2019
Connected commerce is among the hottest trends in retail, and not just for streaming or ridesharing or online gaming services, but for subscription purchases, too. In fact, according to new PYMNTS research, digital services are expanding in the United States and in markets around the world. Providers are now working to make customer experiences more contextual, finding users wherever they spend their time — through car dashboards, on mobile apps or via other devices.
Tom Groenfeldt
MARCH 15, 2019
Visa and Mastercard offer real-time payments using debit card rails? Is this a solution staring us in the face?
PYMNTS
MARCH 15, 2019
Mark Karpelès, the former chief of Mt. Gox, the bitcoin exchange that was among the world’s biggest collapses, isn’t likely to face prison time after winning a not-guilty verdict for the more serious charges against him in a Toyko District Court. According to a report in The Wall Street Journal , the executive was found not guilty on the more serious charges, although he was found guilty of producing illegal records.
Payments Source
MARCH 15, 2019
The information you need to start your day, from PaymentsSource and around the Web: Financial sanctions against Venezuela; fallout from Facebook's outage; Sephora's new credit card; and more.
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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
MARCH 15, 2019
Community bank Patriot National has hit a regulatory roadblock in its plans to launch a Small Business Administrative platform, but reports in American Banker on Thursday (March 13) said the financial institution remains undeterred by the challenge. The publication said Patriot National’s plans to acquire the SBA lending business of Hana Financial, announced last year, have hit a snag from the Office of the Comptroller of the Currency, which signed a formal agreement that sees the OCC requ
Payments Source
MARCH 15, 2019
Mark Karpeles, a central figure in the early days of Bitcoin who presided over the dramatic 2014 collapse of the world’s biggest cryptocurrency exchange, was found guilty of tampering with financial records but will likely avoid jail time after receiving a suspended sentence.
PYMNTS
MARCH 15, 2019
Amazon has been testing a new feature on its mobile app where it forces users to either click through or select a pop-up ad for a cheaper product, according to a report by The Wall Street Journal. The paper used this example: When someone was searching for AAA batteries and got a sponsored link for Energizer, they would click on the listing and then a pop-up would appear saying “similar item, lower price.”.
ATM Marketplace
MARCH 15, 2019
Many financial institutions prefer to run their own ATMs — some, because they've always done it that way; others, because they believe they are best able to provide service that meets cardholder expectations. But the truth is that they're already outsourcing at least some portion of their ATM operations — and likely losing money on the deal.
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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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