Chris Skinner
AUGUST 23, 2018
Venezuela is the latest country to spin into hyperinflation, showing the same signs as the meltdown in Zimbabwe that created the 100 trillion dollar note. Hyperinflation, as defined by economist Philip Cagan in the 1950s, is when a country sees inflation rates rise by more than 50% per month. Wow! … The post When national currencies fail (cryptocurrencies rise) appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 23, 2018
Citi Ventures‘s recent investment in Anaconda, an Austin, Texas-based AI and machine learning (ML) software company, shows the industry’s commitment to staying at the forefront of this growing and developing field. AI has certainly generated a lot of chatter and buzz in the financial world, but banks are still challenged to implement it properly.
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Payments Dive
AUGUST 23, 2018
Executives from Caesars Entertainment, Guess?, McDonald's and Skogen's Festival Foods discussed mobile messaging at the recent CONNECT: The Mobile CX Summit in Chicago.
Bank Innovation
AUGUST 23, 2018
Consumers want banks to do more than just hold their money, they want their banks to help them meet their financial goals. In fact, a new consumer report by CSI shows that 83% of American consumers agree with that statement. That number jumped to 87% for consumers with an annual household income of $100,000 or […].
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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
AUGUST 23, 2018
Compliance of General Data Protection Regulation (GDPR) rules remain low across the globe, according to the latest research from Dimensional Research. Reports from the Business Information Industry Association (BIIA) on Tuesday (Aug. 21) said Dimensional Research’s latest findings suggest most companies are still not fully GDPR-compliant, with only 20 percent reporting they are fully adhering to the new data security rules.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
AUGUST 23, 2018
After the 2008 banking crisis, centralized payment systems and financial services don’t have as much appeal to the younger set as a more transparent decentralized system, argues Csaba Csabai, founder and CEO of Inlock.
PYMNTS
AUGUST 23, 2018
The European Union (EU) General Data Protection Regulation (GDPR) came into effect in May, but most businesses in the region still aren’t compliant with the rules. The data security requirements have wide-reaching implications for businesses across sectors, but as companies expand globally and business partners connect on digital channels, supply chains’ GDPR compliance is an increasing focus of security and compliance initiatives in the enterprise.
Bobsguide
AUGUST 23, 2018
Recent data from the Office of National Statistics (ONS) revealed that the UK is currently in the midst of a productivity crisis, with the country’s output per worker 16.6 percent below the average for the rest of the G7 nations in 2016. While the financial services sector was one of only a.
PYMNTS
AUGUST 23, 2018
A chain is only as strong as its weakest link, and the global supply chain is no exception. Companies worldwide engaged in cross-border trade are quickly learning how disruptions from the escalating trade war can cause a logistical domino effect, impacting global deliveries and causing delays in payments. The new Global Payments Architecture Report highlights how companies — including a player in the back-to-school market — are adjusting to the challenges of delivering products in the current g
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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
Payments Source
AUGUST 23, 2018
Due to all the data breaches and privacy mishaps, there is now a strong demand for a better, more secure solution for digital transactions, writes Mick Hagen, CEO of Mainframe.
PYMNTS
AUGUST 23, 2018
When the chips are down … you find out who your friends are. When the chips are really down … you find out that chip makers really don’t have the stomach to put up with rapidly disappearing margins. And so, at least in crypto, it seems the chips are down and some friends of the space are leaving the table, having cashed in their chips – in some cases, quite literally.
Payments Source
AUGUST 23, 2018
ATM jackpotting is a growing threat throughout the United States, with thieves attempting to attack the most vulnerable locations possible, according to Paul Albright, executive vice president of Outsource ATM.
PYMNTS
AUGUST 23, 2018
Darden Restaurants announced Wednesday (August 23) that the data on 567,000 payment card numbers may have been exposed. In a press release , the restaurant chain operator said it was notified on August 16, 2018, by federal authorities that a legacy point-of-sale system for some of its Cheddar’s Scratch Kitchen restaurants, a brand acquired by Darden last year, may have been compromised via a hack that involves restaurants in 23 states.
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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.
CFPB Monitor
AUGUST 23, 2018
I am pleased to announce that Chris Ford, an attorney who has led some of the country’s largest and most innovative Fintech and payment systems transactions, has joined Ballard Spahr as a partner in the firm’s Consumer Financial Services Group. He will be based in the firm’s Washington, D.C. office. Chris advises clients on large-scale commercial transactions, particularly those involving financial services, payments, technology, and outsourcing.
PYMNTS
AUGUST 23, 2018
Event ticketing service Eventbrite has announced its plans to raise up to $200 million in an initial public offering (IPO). According to its prospectus , the company expects to debut on the New York Stock Exchange under the ticker symbol EB. Goldman Sachs is leading the IPO, along with JPMorgan, Allen & Co. and RBC Capital Markets. Founded 12 years ago by Julia and Kevin Hartz, Eventbrite reported that it had a $15.6 million loss in the first half of 2018, while revenue increased 61 percent
Payments Source
AUGUST 23, 2018
After researchers exposed how hackable mobile point of sale systems are, vendors quickly shored up their defenses — while also blaming some vulnerabilities on payment methods they characterize as outdated.
PYMNTS
AUGUST 23, 2018
With brick-and-mortar retailers closing hundreds of stores, the future of the mall has looked bleak. But some say tales of its impending death have been exaggerated. And according to a report in The Wall Street Journal , immersive destinations that give consumers an experience they can’t get anywhere else could be just the thing to save the retail spaces.
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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.
Payments Source
AUGUST 23, 2018
It’s been a rough year of politically charged headlines and financial woes for Facebook, pressuring the social network to do more with its Messenger app's huge and largely unmonetized user base.
PYMNTS
AUGUST 23, 2018
One of Google’s sister companies is set to launch its cybersecurity platform to the public. Earlier this year, Alphabet announced the creation of Chronicle, a cybersecurity firm that will enable companies to detect and prevent cyberattacks. At the time of the announcement, Alphabet wasn’t offering many details, just that Chronicle would offer two services: a new security intelligence and analytics platform for companies, as well as VirusTotal, an online malware and virus scanner acquired
Payments Source
AUGUST 23, 2018
Despite recent scrutiny of mobile point of sale devices, the mobile payments category as a whole has generally carried a promise of initiating a safer transaction through the use of biometrics, device ID, geolocation and other factors.
PYMNTS
AUGUST 23, 2018
Bitcoin got a jump, spiking more than $400 to about a two-week high and nearing $7,000. The reasons for the boost were not all that clear on Wednesday (Aug. 22), with a following dip from those levels. However, even at around $6670, it is down more than 65 percent from the peak. Much of the crypto news came in from Asia. In Thailand, headlines showed that the country’s central bank will issue its own digital currency.
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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.
Payments Source
AUGUST 23, 2018
Debit push payments proved an essential component of the ride-sharing boom, with many drivers opting to pay a fee for immediate funds throughout the day to cover fuel and other expenses. And the technology is finding fans in other niches as well.
PYMNTS
AUGUST 23, 2018
Cryptos have had a rough time of it – but then again, there are some signs the digital tokens are making inroads across borders. To that end, in recent days Ripple’s cross-border payments offering, known as xRapid, has brought on Bittrex , acting as the preferred digital asset exchange for the transactions that move through U.S. dollars. The goal is to help establish what Ripple has called a “healthy ecosystem” of exchange partners that will help bring currency into XRP and then into another cur
Payments Source
AUGUST 23, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Americans keep more funds in PayPal accounts than their wallets; Coins decline in the U.K.; ZenCash changes its name; Coinbase adds payment support.
PYMNTS
AUGUST 23, 2018
Another round of attempts to get bitcoin exchange-traded funds approved by the Securities and Exchange Commission has failed. Bloomberg , citing the Securities and Exchange Commission, reported the government agency rejected bitcoin ETFs from ProShares , GraniteShares and Direxion , citing concerns that the funds would be easily manipulated. The SEC said the proposals for the funds did not do enough to show how exchanges that want to list the products can prevent fraud and manipulative acts.
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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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