Chris Skinner
JULY 3, 2019
Building on yesterday’s blog about reports that are useful, I just found another one from UK Finance (formerly the British Bankers Association) on how they see AI in banking, released last week. The report is in two parts that address what they see as the two key issues banks face … The post AI in banking: the pitfalls and opportunities (research paper) appeared first on Chris Skinner's blog.
Bank Innovation
JULY 3, 2019
The Canadian banking ecosystem, a walled fortress comprised of a handful of major institutions that own most customer relationships, recently added a new digital-only, mobile participant. The new entrant, however, isn’t a young fintech startup; it’s Manulife Bank, a subsidiary of Toronto-based insurance giant Manulife Financial. In June, Manulife launched a digital-only banking bundle called […].
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Payments Dive
JULY 3, 2019
Coinsquare, a Canadian cryptocurrency exchange, has partnered up with Just Cash to allow consumers to buy bitcoin via regular, non-bank operated ATMs in the U.S.
Bank Innovation
JULY 3, 2019
Pagaya, which uses artificial intelligence to manage institutional money, is issuing a second $100 million actively managed asset-backed securities (ABS) offering, the U.S.-Israeli fintech firm announced today. This follows Pagaya's first $100 million ABS deal fully managed by AI in February. Since its founding in 2016, Pagaya has grown to $650 million in assets under […].
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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
JULY 3, 2019
Ireland’s Data Protection Commissioner (DPC) announced that it has launched a third privacy investigation into Apple. The tech giant’s main regulator in the European Union (EU) said it is looking into whether Apple has complied with the EU’s General Data Protection Regulation (GDPR) privacy law regarding an access request from a customer. Under GDPR, regulators can hit companies that do not comply with the regulations with fines of up to 4 percent of a company’s global revenue or €20 milli
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 3, 2019
ANZ , Commonwealth Bank , IBM , Scentre Group and Westpac have announced they are partnering to launch a live pilot for Lygon, a new digital platform using blockchain technology to digitize the bank guarantee process needed for retail property leases. While bank guarantees have primarily been issued manually and on paper, digitizing the process reduces the risk of fraud, decreases the chance for errors and significantly speeds up the entire process.
Payments Source
JULY 3, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: QR codes for education payments; Tencent and Paytm mull investment in streaming service; Dutch ministers call for cash removal; Retailers lobby against Amazon and Google; FIS adds job board tech.
PYMNTS
JULY 3, 2019
In the B2B world, the time is now for faster payments. The bar may seem a bit low, as the majority of transactions are still mired in paper checks, with communications still tied to faxes and phone calls. In the Real-Time Payments Innovation Playbook , done in partnership between PYMNTS and Mastercard , financial decision-makers from nearly 400 firms across a dozen industries laid out a number of priorities for making their payment processes more efficient.
Payments Source
JULY 3, 2019
Brazil has one of the world's worst payment fraud problems, which has come in handy for ClearSale as it tries to cut transaction decline rates for online payments globally. The Olympics also came in handy.
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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
JULY 3, 2019
Google has announced via its blog that some big updates are coming to make it easier for consumers to pay easily and quickly online, care of Chrome, no matter what device they happen to be using at the time. Therefore, going forward, consumers will be able to use payment methods previously saved to their Google Account to fill in checkout forms when signed into Chrome — across their devices and wherever Google Pay is accepted.
Jack Henry
JULY 3, 2019
Tomorrow will be our country’s 243 rd birthday as an independent nation. During the celebration, hopefully all of you get a chance to enjoy some good company and good barbeque. There is also another milestone that we could hit later this month, although I’m not aware of any firework displays or parades happening for it. If the current US economic expansion lasts through July 2019, it will be the longest expansion in the country’s history – a period of 10 years and counting.
PYMNTS
JULY 3, 2019
When it comes time to pay suppliers, most accounts payable (AP) professionals will use whichever payment method they need to get the job done — but most are unhappy with what they currently use. Paper checks are AP departments’ seventh-favorite way to pay suppliers, yet 80.8 percent use them anyway. If given the choice between checks, digital wallets and ePayables, AP professionals would prefer to pay suppliers using digital payment solutions.
Payments Source
JULY 3, 2019
Facebook’s cryptocurrency pilot highlights just how important it is for regulators and banks to figure out where they land in the emerging monetary digital age.
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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
JULY 3, 2019
On the heels of its Canadian launch last year, Adyen announced the addition of Interac Debit on Mobile for in-browser and in-app as a payment method for Canadian merchants. The company is also growing its partnership with on-demand food delivery service company foodora Canada, which allows the firm to take Interac Debit payments via digital wallets with the inclusion of Google Pay and Apple Pay, according to an announcement.
Payments Source
JULY 3, 2019
Utah this week became the third state to let companies test cutting-edge financial products without fear of violating licensing and other regulations.
PYMNTS
JULY 3, 2019
French startup Joko announced that it has raised €1.6 million from investors including Partech, Axeleo Capital, Lafayette Plug and Play and others to further develop its loyalty program integrated into credit or debit cards. Founded in 2018, Joko’s loyalty program already works with dozens of major retailers including McDonald’s, Uber, Starbucks, Zara and more.
ATM Marketplace
JULY 3, 2019
Coinsquare, a Canadian cryptocurrency exchange, has partnered up with Just Cash to allow consumers to buy bitcoin via regular, non-bank operated ATMs in the U.S.
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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
JULY 3, 2019
To invest in companies within “key high-growth industries,” Sony is homing in on the world of investments in upstarts. The company has the goal of raising approximately $185 million or 20 billion JPY in a new tech startup fund, according to reports. The Innovation Growth Fund (IGF) is said to be jointly run with Daiwa Securities’ VC arm, Daiwa Capital Holdings, and early LPs include Osaka Shoko Shinkin Bank, Sumitomo Mitsui Banking Corporation and Mitsubishi UFJ Lease & Finance Company Limit
Payments Source
JULY 3, 2019
Adyen has added support for Interac, enabling Canadian merchants to accept Canada’s domestic debit payment method for in-app and online purchases.
PYMNTS
JULY 3, 2019
Let’s start this story with a trip to the dentist’s office. No, we don’t want to be there, either, but life requires regular bouts of suffering. No matter how good a particular dentist is, there are few things fun, nice or even reasonably pleasant about sitting in that chair under that big light as people go to work inside one’s mouth. However, things are getting better at the dentist, as told by Jennifer Sherman, SVP of product at unified commerce enablement provider NMI.
BankBazaar
JULY 3, 2019
Planning to get married soon? Don’t forget to ask these six questions to your would-be spouse before the big day. So, you’re planning to get hitched, huh? Congrats! We get it that you must be extremely busy with the preparations and stuff. But there’s something that you must do before your big day (i.e. if you don’t want to regret later) – discuss financial matters with your soon-would-be spouse.
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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
JULY 3, 2019
China is going to promote cross-border eCommerce in additional cities as an initiative to stabilize trade in the country, according to a report by Reuters. The news came via state television in China on Wednesday (July 3), through a meeting of the state council that was chaired by Premier Li Keqiang. “We will add a new batch of cross-border eCommerce pilot cities on top of the existing 35 pilot zones,” state TV said, without elaboration.
Payments Source
JULY 3, 2019
Swish is expanding to physical stores to extend usage among the millions of Swedes who use the app for account-to-account transfers.
PYMNTS
JULY 3, 2019
While B2B payments innovation often takes a page or two out of the business-to-customer (B2C) payments world, the rise of the gig economy and freelance professionals have challenged the payments space to develop solutions that can appear to be a hybrid of corporate and consumer solutions. Gig workers, for instance, often operate as independent professionals, or even entrepreneurs running their own enterprise.
The Paypers
JULY 3, 2019
(The Paypers) One of Paysera ’s founders and main shareholders, Kostas Noreika , talks about the company’s journey so far and how it strives to innovate B2B electronic payments
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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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