Chris Skinner
SEPTEMBER 25, 2018
I’m working on my next book already. Digital Human only came out a few months ago, and here I am off already on a new one. I’m not going to share too much about it yet, as it won’t come out for two years, except to give you some clues on … The post Which banks do ‘get IT’? appeared first on Chris Skinner's blog.
Payments Dive
SEPTEMBER 25, 2018
Bank executives gathered in Chicago two weeks ago for the Bank Customer Experience Summit to discuss AI's role in current and future customer initiatives.
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Chris Skinner
SEPTEMBER 25, 2018
Things we’re reading today include … HSBC rocked by claim of investment bank’s ‘failure’ Danske: anatomy of a money laundering scandal Deutsche Bank mulls merger scenario with UBS: Handelsblatt UK bank customers lost £500m to scams in first half of 2018 Former UBS trader to remain in detention as he … The post Things worth reading: 26th September 2018 appeared first on Chris Skinner's blog.
Payments Dive
SEPTEMBER 25, 2018
Online fraud is becoming more and more sophisticated. One of the results of this arms race is the recent surge in ATO – account takeover – attacks, a form of fraud which is particularly difficult to detect. In 2017, ATO led to $5.1 billion in losses, a staggering 122% increase over the $2.3 billion lost in 2016.
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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
SEPTEMBER 25, 2018
Easy come, easy go? For XRP, the maxim holds true into a new week. Bulls are no doubt looking wistfully at last week’s action, when the price rose more than 100 percent and headlines held promise over XRP’s adoption into (a bit) more mainstream, everyday financial life. As of today (Sept. 25), the price has fallen by more than 18 percent, rebounding a bit and trading at about 46 cents.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
SEPTEMBER 25, 2018
Fusion Risk Management is expanding its corporate risk management software offering by integrating new functionality into the tool, the company said in a press release on Monday (Sept. 24). The updates include connectivity with third parties, allowing its Fusion Framework System users to engage with their suppliers and other third parties in supply chains to streamline the vendor risk assessment process.
Bank Innovation
SEPTEMBER 25, 2018
Savvy financial institutions have long utilized data analytics to glean actionable insights into their customer base, for everything from acquisitions, KYC, and marketing to lending. Michael Zell, Boeing Employees’ Credit Union (BECU) VP of Digital, told Bank Innovation that the institution has long worked with MX to make its data actionable. “We’ve been a partner […].
PYMNTS
SEPTEMBER 25, 2018
eBay announced on Tuesday (Sept. 25) that it has started managing payments on its Marketplace platform in the U.S. In a press release , the company said that earlier this year, it announced plans to intermediate or manage the payments flow on its platform, and that it has now started doing that. “The introduction of eBay’s new payments experience in the U.S. marks a significant milestone in our managed payments journey,” said Steve Fisher, senior vice president of payments at eBay.
Bobsguide
SEPTEMBER 25, 2018
In banking today, we’re seeing a seismic shift - big banks and tech players are moving their approach from products to services. Doing so offers more flexibility, faster go-to-market agility, and a better consumer experience. “As-a-service” as we know it has already.
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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
SEPTEMBER 25, 2018
To paraphrase a certain defense secretary from earlier in the millennium: There are known unknowns and unknown unknowns. When it comes to FinTech firms and lending, might it be that what we don’t know could hurt us? A report by the Bank for International Settlements (BIS) found that when it comes to credit done through nascent technological platforms, boons and risks are afoot.
Bobsguide
SEPTEMBER 25, 2018
Chatbots have been around for more than half a century, and they’re often dismissed as little more than a source of empty small talk for bored social media users. Yet over the course of the last few years, fintechs have turned that perception on its head by transforming traditional social.
PYMNTS
SEPTEMBER 25, 2018
Enhanced data security and analytics are at the top of chief financial officers’ priority lists among both private and public companies, according to new data from auditing and advisory service provider Protiviti. The firm’s latest research examined CFOs and other financial executives’ views on the future of their functions and processes.
Payments Source
SEPTEMBER 25, 2018
The STATES Act allows the industry to resolve conflicts between state and federal laws by granting legitimate cannabis companies access to the financial system in marijuana-legalized states, writes Heather Peterson Altepeter, CEO of the National Merchants Association.
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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
SEPTEMBER 25, 2018
Emergent Technology, the blockchain technology company, announced on Tuesday (Sept. 25) that it has made a strategic investment in T Stamp Inc. In a press release , Emergent Technology said T Stamp, which is known as Trust Stamp, makes artificial intelligence and biometric hashing technology for the purpose of verifying identities. Emergent Technology said it is deploying Trust Stamp’s technology across its G-Coin and Responsible Gold businesses. “Across our business, we strive to fa
Bobsguide
SEPTEMBER 25, 2018
UK challenger banks and fintechs are making moves to ensure their services will be available to customers in the European Union after Brexit. Starling was granted a banking passport into the Republic of Ireland last year, while Revolut has begun the process of applying for an e-money licence in.
PYMNTS
SEPTEMBER 25, 2018
Subscription fatigue is one of the biggest challenges merchants must conquer if they want to ensure longevity. In recent weeks, several subscription-based businesses have revised their offerings to try new tactics in an effort to keep customers renewing their subscriptions. In the September Subscription Commerce Tracker , PYMNTS highlights how subscription-based models offering consumers access to food, video games, books, medical care and even vehicles are changing to keep customers engaged.
Bobsguide
SEPTEMBER 25, 2018
Spend even a short amount of time in finance, and you’ll realize stock and bond investment managers are generally cut from different cloths. The former are often chatty, right-brain types, and the latter more analytical and left-brained. Both asset classes can accomplish valuable things.
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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
SEPTEMBER 25, 2018
Fiserv, the global provider of financial services technology solutions, announced on Tuesday (Sept. 25) that it has agreed to acquire the debit card processing, ATM managed services and MoneyPass surcharge-free network of Elan Financial Services , a unit of U.S. Bancorp. In a press release , Fiserv said the acquisition – in which it is paying about $690 million – further enhances the company’s offering, deepens its presence in the debit processing market and expands the mobile and digital
Payments Source
SEPTEMBER 25, 2018
Crypto reduces corruption by enabling nonprofits to control and see how money is spent throughout its organization, according to Connie Gallippi, founder and executive director of BitGive.
PYMNTS
SEPTEMBER 25, 2018
Combine visual smarts with digital context and you’ve created an online shopping method that can respond to consumer impulses and discovery in ways that can feel pleasingly intimate – and can even lead to significant profit boosts. That’s one angle through which you can view a recent development involving Google Lens. New Role for Lens. The product, which is Google’s object recognition platform, has taken on new duties.
Payments Source
SEPTEMBER 25, 2018
A week after revealing its Stripe Terminal as a way to enter the physical retail space, the online payments provider plans to add financial support through cash advances to the services it provides merchant clients.
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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
SEPTEMBER 25, 2018
In the drive to modernize treasury operations, mind the gap — o r gaps. As it turns out, there may be a disconnect between what treasury professionals need in their day-to-day endeavor of cash management and what their service providers think they need. The vendors selling tech and services to the corporate treasurers would do well to be mindful of those gaps.
Payments Source
SEPTEMBER 25, 2018
With Google facing scrutiny of its data collecting practices, one exec sets the record straight: Yes we know you took an Uber, no we don't know where you went.
PYMNTS
SEPTEMBER 25, 2018
New data shows that as U.S. credit scores hit their highest point since the Great Recession, Americans are also borrowing more than ever. According to Bloomberg , the average FICO score is now at 704, a new record that marks an eight-year streak of increases. The data shows that part of the boost comes from the fact that fewer consumers have a score of less than 550, which would have dragged down the national average.
Payments Source
SEPTEMBER 25, 2018
Employees are typically a company’s first line of defense when it comes to most threats. As such, it is important to train them on how to identify cloud cryptojacking attacks, according to Anurag Kahol, CTO of Bitglass.
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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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