Bank Innovation
DECEMBER 26, 2019
N26 is building out its perks ecosystem, adding partnerships with new brands at a rapid clip. This month, the company partnered with scooter rental company Lime and online travel platform Booking.com to offer added rewards to customers who transact using their N26 debit cards. “We’re very careful around using data the right way, but one […].
Payments Dive
DECEMBER 26, 2019
The year 2019 proved to be a tumultuous year in the world of mobile payment. We take a look back at the ten most read mobile payments stories of the year.
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PYMNTS
DECEMBER 26, 2019
The Central Bank of the Bahamas is planning to start a rollout of its new digital currency on Friday (Dec. 27) in Exuma. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release. The move is long-awaited and comes after years of work through the Bahamian Payments System Modernization Initiative (PSMI), which began in the early 2000s.
CFPB Monitor
DECEMBER 26, 2019
The CFPB has issued its annual report on TILA, EFTA, and the CARD Act which covers activity in 2016 and 2017. The report provides brief summaries of the 2016 and 2017 enforcement actions brought by the CFPB and other federal agencies with relevant enforcement authority and provides data on reimbursements required as a result of enforcement actions brought during these periods.
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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
DECEMBER 26, 2019
Some of the largest U.S. banks, like JPMorgan Chase , Bank of America (BoA) and Citigroup , gained as consumers spent during a robust holiday season, according to a report by Bloomberg. BoA gained 1 percent to its highest point since October 2008, and Cit saw a gain of 1.5 percent, which is the biggest jump since January 2018. Wells Fargo and Truist Financial Corp. also gained.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
DECEMBER 26, 2019
In an historic day, fueled by gains in tech shares, the Nasdaq Composite Index moved past 9,000 for the first time, Bloomberg reported. The new Nasdaq record is attributed to key performers, including Amazon , as the online commerce juggernaut reported their 2019 holiday sales broke previous records. European markets were still closed for Christmas.
CFPB Monitor
DECEMBER 26, 2019
The first round of amicus briefs have been filed with the U.S. Supreme Court in Seila Law. All of the amici that take a position on the Bureau’s constitutionality agree with the position taken by both Seila Law and the CFPB that the Bureau’s structure is unconstitutional. However, three of the amici take no position on constitutionality, with two of the amici addressing only the appropriate remedy if the Supreme Court concludes that the Bureau’s structure is unconstitutional and another of the
PYMNTS
DECEMBER 26, 2019
There’s an old saying, ascribed variously to the old proverbs, baseball great Yogi Berra and physicist Niels Bohr: Predictions are difficult, especially when they’re about the future. Regardless of the source, the sentiment rings true. The farther one looks out over the horizon, the hazier the picture becomes. That’s especially true in payments, where technology can lead to seismic shifts in the way we pay, where we pay and even when we pay, as commerce becomes ever global and a 24/7 activity.
Matt Wilcox Pro
DECEMBER 26, 2019
Originally posted December 17, 2014 Last week, a friend of mine, also in marketing, posted this after fighting his way to live chat on Adobe’s website: “Adobe live chat is immensely helpful—once you get there. First you must prove your worthiness. You must navigate a maze, undergo a colonoscopy, pass a written exam on String Theory, [.
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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
DECEMBER 26, 2019
The year is almost done — in less than a week the ball will be dropped and the new year and new decade will be underway. But before we shut the door on 2019, it bears taking a moment to note how much the world of retail has changed in the last year, a fitting capstone on a decade that has seen retail as the American consumer commonly knew it taken to the ground and rebuilt nearly from the foundations.
CFPB Monitor
DECEMBER 26, 2019
The FTC has filed a lawsuit in an Atlanta federal district court against a company that markets fuel cards to operators of vehicle fleets in which the FTC alleges that the company violated the FTC Act’s prohibitions on unfair and deceptive acts and practices. The company’s CEO was also named as a defendant. In its complaint , the FTC describes the fuel cards as “charge cards that customers can distribute to vehicle drivers to purchase fuel and other transportation-related products and ser
PYMNTS
DECEMBER 26, 2019
At the start of the 2010s, retail merchandising was, at base, a lot of guesswork. The fashion industry made decisions on its seasonal lines once or twice a year, production runs were ordered and goods were shipped. If things went well, and brands guessed right about consumer tastes, that was all well and good. If not, adjustments to the remainder of the stock would be made, and promotions and discounts were thrown out to motivate the consumer.
Breaking Banks
DECEMBER 26, 2019
Brett King hosts our end of the year / Christmas special with Theodora Lau, Penny Crosman, Jim Marous, Ron Shevlin, and David Birch, discussing how fintech has evolved over the past decade!
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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
DECEMBER 26, 2019
As demand for connectivity in vehicles grows, automakers are clamoring to put Amazon Alexa behind the wheel — or at least in the passenger seat, CNBC reported on Tuesday (Dec. 24). Demand for voice-activated technology is “through the roof” as 2020 rings in, according to Ned Curic, vice president of Alexa Auto. “Two and a half years ago, we had nothing,” he told the network last week, following a tour of Amazon’s Seattle headquarters.
Payments Source
DECEMBER 26, 2019
NFC implants; an extended ACH window; and other information you need to start your day, from PaymentsSource and around the web.
PYMNTS
DECEMBER 26, 2019
This year, apps aimed to make it easier and more convenient for consumers to order their favorite foods and sundries, with restaurants and other retailers tapping into delivery. To help bring these options to more consumers, retailers and technology companies decided to join forces. Starbucks kicked off 2019 by adding additional cities to its delivery network through a partnership with Uber Eats.
ATM Marketplace
DECEMBER 26, 2019
According to some economists, we've been experiencing an extended period of slow growth since the 1970s. What does this mean for the future of cash and ATMs? ATM historian Bernardo Batiz-Lazo explores the topic in his latest blog post.
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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
DECEMBER 26, 2019
In move that could further upend traditional brick-and-mortar retail engagement , the United States Patent and Trademark Office published an application this week from eCommerce giant Amazon.com detailing a software system that would identify individuals through unique biometric qualities and characteristics associated with the palms of their hands.
Payments Source
DECEMBER 26, 2019
The morphing of e-commerce and brick and mortar technology will require strategies that address both at the same time, says Zoomd's Omri Argaman.
PYMNTS
DECEMBER 26, 2019
Change came from various areas for retail in 2019. Not the least of it involved artificial intelligence (AI), a big trend going into the 2020s. Retail merchandising was, at best, a hit-or-miss system in its heyday, Nextail CEO and Co-Founder Joaquin Villalba told PYMNTS in a recent conversation. However, it is increasingly out of data, and out of step with modern consumer behavior and preferences.
Payments Source
DECEMBER 26, 2019
Pakistan’s central government is using its post offices to follow through on an initiative to ease electronic funds movement for remote workers sending money home.
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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
DECEMBER 26, 2019
The last decade of B2B FinTech innovation not only led to an explosion of product options for businesses to manage a variety of processes, including accounts receivable (AR), accounts payable (AP) and accounting. It also evolved into a new focus for innovators and developers of these solutions, enabling these tools to operate in harmony with each other, with data integration and sharing of paramount importance to corporate users.
Payments Source
DECEMBER 26, 2019
The prepaid card pioneer's banking-as-a-service platform might make it an attractive acquisition for an enterprise technology giant or bank, analysts say.
PYMNTS
DECEMBER 26, 2019
One can almost feel it in the bones: the excitement to come in the world of payments in 2020, as innovation sparks new business models and disruption. Part of that future seems likely to involve open-source software, and that’s why PYMNTS recently caught up with Arvind Swami, director of FSI for Asia-Pacific at Red Hat. The company made news over summer when IBM closed its $34 billion acquisition of the open-source software firm.
Payments Source
DECEMBER 26, 2019
The big acquisitions of 2019 have created an environment for more deals to come, says FICO's Tim VanTassel.
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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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