Chris Skinner
AUGUST 22, 2019
I enjoy being around bankers who have been immersed in the industry nearly all of their lives and hearing their war stories. I heard two stories recently from a retiring banker, and thought it worth sharing to show just how far we’ve come. This friend started life in international banking … The post Are humans really needed for banking? appeared first on Chris Skinner's blog.
Payments Dive
AUGUST 22, 2019
The official launch of Apple Card has generated major buzz across the payments and banking industry, however a split has emerged about whether the technology company will truly break new ground on a digital payment product that grows the business with consumer friendly financial services.
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Bank Innovation
AUGUST 22, 2019
The growth of Amazon Go cashierless stores is causing a ripple effect among retailers. It’s what’s been inspiring big-box retailers — among them, Walmart, Sam’s Club, Giant Eagle and others — to develop cashierless payment systems of their own. As a result, technology companies are rushing to meet demand among retailers that want to implement […].
PYMNTS
AUGUST 22, 2019
In Latin America, news comes this week that Santander Group is boosting its use of Ripple’s technology to aid payments across what CoinDesk reported is a “payment corridor” in Latin America. As reported , the corridor would enable customers in Latin America to send money to the United States instantly, without fees, through the app One Pay FX. That app, the site noted, uses xCurrent software.
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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
Chris Skinner
AUGUST 22, 2019
Things we’re reading today include … U.S. SEC fines Deutsche Bank $16 million to settle foreign corruption charges Can the Fed’s chair shake off the wolves of Wall Street and White House? Jes Staley: the last man in European investment banking Wells Fargo pays $6.5 million to Navajo Nation over … The post Things worth reading: 23rd August 2019 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
AUGUST 22, 2019
Ongoing training is at the very heart of a satisfactory Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program in financial institutions. Training is especially important for the BSA officer, who “is expected to be fully knowledgeable about the BSA and all related regulations,” as a recent Federal Reserve Bank of Minneapolis publication noted.
Bank Innovation
AUGUST 22, 2019
Bank of America is seeing encouraging early uptake of business-to-business payments through Zelle, with 180,000 small businesses having sent money through the service since it launched in June. Rob Pascal, head of small business digital at Bank of America, told Bank Innovation that the average dollar value of a transaction among a Zelle business user […].
PYMNTS
AUGUST 22, 2019
Adyen, the Dutch payments processor, posted first-half results on Thursday (Aug. 22) that showed double-digit percentage gains in volumes, driven by online commerce and increased traction among mid-market firms doing business and taking payments across the globe. In terms of the headline numbers, net income was up 92 percent to 92.5 million euros. That growth outpaced the top-line momentum, which was up 41 percent to 221.1 million euros.
Payments Source
AUGUST 22, 2019
There is always the chance that privileged employees will either become bad actors who use their access to confidential data for their own gain, or that they will succumb to a hacking attempt and thereby open the door to an external bad actor, says Unisys' Maria Allen.
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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
AUGUST 22, 2019
Consumers are set to spend $23 billion buying mobile tickets for sports and gaming events by 2023. Sports brands are thus looking to a host of new technologies, like contactless payments, and even virtual reality technology, to accommodate a new generation of mobile users. Stadiums from the United States to Japan are implementing contactless payments, in-seat ordering or even going full-on cashless to add more convenience to their in-person experiences.
Breaking Banks
AUGUST 22, 2019
How is the way we make basic transactions changing, and what will these changes mean for the future of banking? Brett King ( Moven ) and Jason Henrichs ( Fintech Forge ) host Penny Crosman ( American Banker ), Sultan Meghji ( Neocova ), and Santo Cannone (Alloy Labs Alliance).
PYMNTS
AUGUST 22, 2019
Banking startup N26 has announced that its mobile banking app is now available to customers across the United States, following the completion of a beta program that lasted two months, according to a release. The app is available in the Apple App Store and Google Play. Once it is downloaded, people can apply for an account and a Visa debit card. N26 plans to publicize the launch with an ad campaign on buses, taxis and trains throughout San Francisco, Chicago and New York. “We are excited t
BankBazaar
AUGUST 22, 2019
Struggling to make the most of your monthly paycheck? This one Is for you! Making your way through the world of personal finance can be quite challenging, even for adults with a steady job and experience in the corporate world. But don’t worry, if you’re struggling with your finances now, doesn’t mean you’ll never get better at it. With a certain amount of smart planning, a well-chalked out strategy and basic understanding of budgeting, you should be successful at mastering the much-needed money
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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
AUGUST 22, 2019
Austria’s major telecommunications firm A1 is now accepting payments in cryptocurrency as part of a pilot project, the company said in a recent blog post. The company said it would begin accepting crypto payments at select stores, supporting Bitcoin, Ether, XRP, Litecoin, Stellar, and Dash. If the program is successful, it will expand to include other coin assets.
Payments Source
AUGUST 22, 2019
Financial crime screening solutions that are fueled by high quality sanctions and screening data will be a crucial component to achieving success in this complex compliance environment, writes Accuity's Nirhjar Daripa.
PYMNTS
AUGUST 22, 2019
FinTech firms are tapping into automation and training to stay on top of the latest security developments, while keeping an eye on evolving trends in the payments space. Fraud, for instance, is an ongoing threat, with nearly three-fourths of U.S. financial institutions reporting growing losses attributed to online and mobile fraud. To help deter fraud, AvidXchange Chief Information Security Officer and SVP of Technology Operations Christina Quaine told PYMNTS in an interview that “education with
Payments Source
AUGUST 22, 2019
In a double-teamed effort to showcase new technologies, Finnish telecom operator Telia demonstrated the use of 5G wireless service in an open-to-the-public face payments pilot with OP Bank.
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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
AUGUST 22, 2019
For many entrepreneurs, their experiences tend to guide them toward a particular area. The Sock Spot CEO Ben Williams, for instance, worked for a manufacturer in eCommerce and decided to start his own online shopping company. He settled on selling socks because his wife wore fun socks underneath tall boots in an otherwise formal horse-riding setting.
ATM Marketplace
AUGUST 22, 2019
It used to be that you never went anywhere overseas without your American Express travelers checks. But these days, cash is king when it comes to dashing in and out of ports, at least for this frequent globetrotter.
PYMNTS
AUGUST 22, 2019
Patrick Byrne, CEO and founder of Overstock.com , has resigned following information that his romance with a Russian agent affected the company’s profit center, Politico reported on Thursday (Aug. 22). Byrne was also found to have made dubious comments regarding the “Deep State,” which reportedly set the eCommerce firm spiraling. “While I believe that I did what was necessary for the good of the country, for the good of the firm, I am in the sad position of having to sever ties
Payments Source
AUGUST 22, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Barclays adds literal climate to stores; Australia's real-time pay system suffers a breach; Austrian mobile provider tests crypto pay; DoorDash makes an acquisition.
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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
AUGUST 22, 2019
At the dawn of a new decade, everything from grocery shopping to disaster relief is getting a digital upgrade. And as all that happens, authentication and artificial intelligence are helping big digital players significantly up their game. As hurricane season starts, PYMNTS takes a deep dive into new issues related to digital disaster relief, and looks at how digital is transforming other industries.
Payments Source
AUGUST 22, 2019
An inspector general’s findings suggest that the Texas bank could face more consequences over how it handled fraud cases last year tied to the Direct Express program.
PYMNTS
AUGUST 22, 2019
The growing CBD industry offers one of the best retail and payments stories in the second half of 2019 — and offers lessons for merchants seeking to keep on the right side of regulatory pressure when it comes to various other products as well. CBD is short for cannabidiol, a chemical derived from the cannabis plant, and versions of that product are popping up in countless stores, both physical and online.
SWBC's LenderHub
AUGUST 22, 2019
Lenders face a variety of challenges. When it comes to mortgage origination, some of those challenges include increased turn times and valuation costs. While it’s critical for lenders to demonstrate to regulators that they are valuing the equity in an appropriate and compliant manner, it’s also essential to provide cost-effective mortgages that close in a timely manner in order to meet the expectations of borrowers.
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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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