Chris Skinner
OCTOBER 2, 2017
I’ve said continually that firms like Google and Amazon will never open a bank. I still believe that this will be the case – Facebook and Apple also fall into this view – and mainly hold this view because these companies would find full service banking a difficult and unprofitable … The post Do you really think that Google or Amazon want to be a bank?
Bank Innovation
OCTOBER 2, 2017
EXCLUSIVE—Preventing fraud is an ongoing battle, and Mastercard wants to make it a little easier for card issuers with the launch of its Early Fraud Detection System. The system, announced by the payment processor today, will allow FIs and other card issuers to create a greater net of protection for card customers. It does so […].
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Chris Skinner
OCTOBER 2, 2017
Things we’re reading today include … Bank of England tells lenders to find £116bn to help prevent bailouts Exclusive: U.S. mulls further Wells Fargo sanction over sales abuses – source Banks to switch to real-time payments from Australia Day Bank of England sets out bank rescue rules Venture capitalists urged … The post Things worth reading: 3rd October 2017 appeared first on Chris Skinner's blog.
Bank Innovation
OCTOBER 2, 2017
Zhejiang Geely Holding Group, a Chinese carmaker that also owns Volvo, is scheduled to acquire a majority share in Danish the fintech and Reg Tech, Saxo Bank, following its more than $300 million purchase of stake in the Scandinavian company, as reported today by The New York Times. The deal represents Geely’s first sign 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
OCTOBER 2, 2017
“Retail isn’t dead; it needs a revival.”. With a list of bankruptcies growing ever longer, suburbs hosting the carcasses of scores of dead and dying shopping malls and foot traffic on an ever-falling curve, it’s not hard to draw the conclusion that retail — or, at least, the brick-and-mortar version of it — is dead. But b8ta doesn’t buy it, hence the motto quoted above.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 2, 2017
Shake Shack is going cashless with kiosks in New York City later this month. New York, according to company CEO Randy Garutti, is what the retailer considers “the playground” — Shake Shack’s go-to choice for testing out new innovations for consumers. This cashless kiosk coming soon to Astor Place will not have a cashier counter. Instead, guests will use digital kiosks to order their food — or utilize their smartphones, if they have the mobile Shake Shack app.
Bank Innovation
OCTOBER 2, 2017
London fintech Curve has partnered with accounting software provider Xero to remove the hassle of filing expenses, allowing users to log each charge with Xero automatically. This eliminates the need for a Curve user to input each transaction into Xero’s accounting platform manually; the feature allows customers to connect their Curve app to their Xero […].
PYMNTS
OCTOBER 2, 2017
Bank customers and regulators would likely agree: There’s no excuse for a financial institution to accept lackluster cybersecurity measures. But according to a new report from BitSight, that’s exactly what’s happening as FIs work with partners and other third-party service providers. Last week, the company published its latest report, “ The Buck Stops Where?
Bank Innovation
OCTOBER 2, 2017
EXCLUSIVE— As recent hacks such as Equifax demonstrate, credit providers have work to do to gain back consumer trust, and doing so is going to require fixing the customer experience as well as data security. Providers should work to provide a more customer-centric experience, according to Aaron Frank, co-founder and CEO of credit startup Final […].
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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
OCTOBER 2, 2017
A recent “Lost in Transaction” Paysafe study polled 3,000 consumers in the U.S., the U.K. and Canada regarding their attitudes about the use of cash. According to its findings, the mobile wallet movement may be gathering momentum. More than half of consumers appear to be expecting to adopt digital payment methods in the next few years. The Paysafe study focused on one main question: What is the tipping point that has been moving people from cash payments to alternative cash formats, thus setting
Let's Talk Payments
OCTOBER 2, 2017
To capture the massive growth of blockchain and DLT patents over the last several years, Let’s Talk Payments has partnered with Carneros Bay to release a complete analysis of the.
PYMNTS
OCTOBER 2, 2017
Coinbase, the popular cryptocurrency exchange, is facing an inquiry by regulators in the U.S. over a flash crash back in June that erased nearly all the value of the Ethereum (Ether) currency, the second most popular cryptocurrency. According to a report in Bloomberg , the Commodity Futures Trading Commission (CFTC) wants information from Coinbase about its GDAX platform and the June 21 crash.
Let's Talk Payments
OCTOBER 2, 2017
Concerns over the security of online shopping have been around as long as the Internet and for good reason. The initial steps into making online payments were painful. A lack.
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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
OCTOBER 2, 2017
Aiming to protect users from hackers and political operatives, Google is gearing up to enhance its online security tools. Citing two people familiar with the company’s plan, news from Bloomberg reported that starting in October, it will roll out its Advanced Protection Program, which will provide increased security tools for online accounts, such as email or other services.
Bobsguide
OCTOBER 2, 2017
The global financial crisis of 2008 fundamentally changed the operating landscape for capital markets players, creating a challenging environment of volatile markets and new regulatory barriers. From a market perspective, things are beginning to improve and new opportunities are unfolding as banks.
PYMNTS
OCTOBER 2, 2017
A study of 1,000 Chinese consumers indicates that for the first time, local maker Huawei has edged out Apple for being the number one smartphone consumers are preparing to purchase. This results sounds the latest round of alarms about the iPhone 8 — and indicates just how powerful the players making phones in China, namely Huawei, Oppo and Vivo, have become.
Let's Talk Payments
OCTOBER 2, 2017
It’s almost unbelievable how we are no longer speaking of how artificial intelligence (AI) WILL shape our FUTURE. We are at a point in history when AI IS shaping our.
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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
OCTOBER 2, 2017
A new generation of entrepreneurs has led to new business models, embrace of FinTech and a slew of other trends among the small business community. But according to one entrepreneur, there’s another phenomenon that’s shaping the SMB landscape in the U.S. In a news article for Forbes , Jason Duff, CEO of COMSTOR Outdoor, which provides advertising and media solutions to other businesses, said baby boomers are selling their companies to millennial entrepreneurs — and that’s a good thing.
Payments Source
OCTOBER 2, 2017
Equifax mismanaged its recovery by asking for personal information to determine if a user was affected and then issuing a predictable PIN code to those that requested a credit lock, moves the diluted confidence in the company, writes Timothy Crosby, senior security consultant for Spohn Security Solutions.
PYMNTS
OCTOBER 2, 2017
Fitness fans often turn to connected athletic devices to measure the calories they have burned, track heart rate goals and log the number of miles, steps and active minutes they’ve logged in a day. Now, these IoT products are helping users maintain healthy financial lives, too. The past month saw notable connected fitness wearable manufacturers take their first steps (or jogs) into the payment space.
Bobsguide
OCTOBER 2, 2017
In the run up to this year’s EuroFinance conference, treasurers are facing an unprecedented mix of challenges. With regulations such as PSD2 looming on the horizon, the threat, or opportunity, of digital disruption can no longer be ignored. Victoria Beckett spoke to Chris Jameson, head of.
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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
OCTOBER 2, 2017
The best offense is a good defense. It’s true in sports, and also true in disaster preparedness. Simply reacting is often too little, too late. When conditions are bad enough, it may not even be possible. Natural disasters like recent hurricanes Harvey and Irma that devastated parts of Texas and Florida are easier to weather when there is a plan and a structure in place before they happen.
Payments Source
OCTOBER 2, 2017
Competition between card networks, tech titans Facebook and Google, Chinese fintech proxies Paytm and Hike, and M-Pesa will be fierce, and offer signs how other large emerging payments markets may evolve, writes Eric Grover, a principal at Intrepid Ventures.
PYMNTS
OCTOBER 2, 2017
Cash is king—and that is particularly true when it comes to helping victims of Hurricane Maria in Puerto Rico. According to a news report in CNBC , citing the Voluntary Organizations Active in Disaster, those looking to help can do the most good by making cash donations. The organization’s website states that many disaster relief organizations can’t handle all the goods being shipped there in the early days of the recovery.
Payments Source
OCTOBER 2, 2017
The desperation in Puerto Rico for life's essentials — food, gas, water and electricity — in the wake of Hurricane Maria illustrates the need for payments providers to move as quickly as possible to get the U.S. territory in a position to reinstate some semblance of modern commerce.
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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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