Bank Innovation
APRIL 23, 2018
Bank P2P service Zelle is having some issues with fraud, with some customers reporting that hackers, exploiting weaknesses in the platform, had cleaned out their bank accounts: even if those customers had never used, or head of Zelle, according to a New York Times report this weekend. With thousands of new users signing onto the […].
Chris Skinner
APRIL 23, 2018
Over the weekend, I received a couple of interesting emails about things happening in Asia. The first is a translation of an announcement from the People’s Daily, the most official newspaper of the Chinese Communist Party, discussing digital currencies. The article is fairly high level and makes no commitment to … The post Digital smartphone banking is used by 97% of Asia’s developed market consumers appeared first on Chris Skinner's blog.
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Bank Innovation
APRIL 23, 2018
EXCLUSIVE—With P2P payments growing, and growing, it might be time for providers such as Visa Direct to start experimenting with other use cases, Cecilia Frew, SVP, head of North American push payments for Visa, told Bank Innovation. “P2P will continue to grow, under a new set of use cases,” Frew told Bank Innovation, citing insurance […].
PYMNTS
APRIL 23, 2018
Brick-and-mortar retail has spent the last decade building bridges to the digital world so a new generation of digital consumers can move fluidly between them. What’s been largely left behind, however, is a payments experience that moves just as seamlessly between those worlds. There have been many attempts to bridge the gap, but consumers haven’t really taken the bait.
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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
Bank Innovation
APRIL 23, 2018
The Reserve Bank of India, the country’s central bank, will be going to court over its cryptocurrency ban after all. According to reports, the Delhi High Court issued a notice to the Reserve Bank of India (RBI), The Union of India through Secretary, Ministry of Finance and GST Council, yesterday. The notice comes because of […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
APRIL 23, 2018
Financial institutions are increasingly moving to online and mobile channels to offer better and more cost-efficient experiences to their customers. Unfortunately, mobility has become a high-risk environment for data breaches, phishing attacks, malware, and social engineering tactics. So how can your bank overcome mobile security concerns? To understand current trends in online and mobile banking […].
PYMNTS
APRIL 23, 2018
More than 170 restaurant brands brought in $200 million — or more — in U.S. sales during 2017. Yet Mark Kalinowski of Kalinowski Equity Research said that some brands are growing particularly fast, CNBC reported. To find the fastest-growing restaurants, Kalinowski examined sales growth of each restaurant to find out the percentage change between 2016 and 2017.
Bank Innovation
APRIL 23, 2018
Payments fintech PayPal will be expanding its in-store payment offerings this year, now offering users the ability to deposit money onto a prepaid debit card or use their service via a partnership with Samsung Pay, it was reported today, and as the Wall Street Journal noted earlier this month. The payments company will now allow […].
PYMNTS
APRIL 23, 2018
American Express’ corporate travel unit, Global Business Travel (GBT), is integrating Lyft as the latest ride-sharing service supported by the business travel booking and expense management solution. Reports in Travel Agent Central on Friday (April 20) said Amex GBT reached an agreement with Lyft to integrate the ability for business travelers to book ground transportation using Lyft on the GBT platform.
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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
Bank Innovation
APRIL 23, 2018
It’s a good start to the new year for fintechs seeking venture capital backing. According to the latest report by CB Insights, funding deals for VC-backed fintechs reached an all-time high in 1Q18 -- 323 deals across the globe. Based on the report, VC-backed fintech firms raised $5.4 billion in the quarter across 323 deals. […].
PYMNTS
APRIL 23, 2018
Singapore bank DBS is introducing the ability for small businesses and larger corporates to track their cross-border payments in real time. Reports in Singapore Business on Friday (April 20) said the financial institution’s real-time tracking service is now live for more than 200,000 of its business clients in Singapore and Hong Kong. The bank is using SWIFT’s gpi service , and is also reportedly in discussions with the payments messaging company to join a consortium to develop a real-time payme
Bank Innovation
APRIL 23, 2018
EXCLUSIVE – When college student Ollie Purdue set out to create the student-centered digital current accounts company Loot, the idea was to solve a personal problem. “What’s the minimum I can earn, and the minimum I need to work to last me till the next payday?” Purdue related to Bank Innovation. At the time, Purdue was […].
PYMNTS
APRIL 23, 2018
Amazon is working on a secret project codenamed “Vesta” to build a domestic robot. The endeavor is led by Gregg Zehr, who heads up Amazon’s Lab126, Bloomberg reported. While the Vesta project started a few years ago, Amazon has recently focused on hiring efforts for the endeavor. As of now, there are several dozen listings within Lab126 for robotics-related jobs, such as “Principal Sensors Engineer” and “Software Engineer, Robotics.
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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.
Payments Source
APRIL 23, 2018
When offered in a fair and transparent manner, DCC provides real value and benefit to both the cardholder and the merchant striving for new ways to remove friction and improve their customer service experience, writes Mark Horwedel, CEO of the Merchant Advisory Group.
PYMNTS
APRIL 23, 2018
Apple doesn’t report earnings until May 1, but that hasn’t stopped Wall Street analysts from cutting their forecasts for iPhone shipments, with Morgan Stanley the most recent to pile on. According to Bloomberg , Morgan Stanley analyst Katy Huberty cut her forecast for the number of iPhones shipped during the March-ending quarter by one million, and six million for the current quarter.
Bobsguide
APRIL 23, 2018
At the end of last year the Basel Committee on Banking Supervision (BCBS) announced the final rules that completed the Basel 3 reforms. Basel 4 - as the latest incarnation has since become known as - was presented at the time by Mario Draghi as “the end of the game” A key objective.
PYMNTS
APRIL 23, 2018
Cross-border commerce is complicated, but there’s a category that can be even more challenging: borderless commerce – that is, global travel retail (GTR), or shopping that takes place in duty-free environments such as airports and airlines, ferries and cruise ships, and border stores. According to Swiss research agency m1nd-set , this market (which is worth more than $63.5 billion) may technically qualify as “brick-and-mortar,” but it can be much more challenging than physical retail in other 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.
Payments Source
APRIL 23, 2018
IoT and omnichannel require fast informed data-driven decisions for merchants, a challenge Mastercard hopes to address with predictive analytics, driving more transactions and fee income.
PYMNTS
APRIL 23, 2018
Spring is the season for cleaning out the old and ushering in the new. And sometimes a new groove is just what a firm needs. Goldman Sachs and its explosion of loans through its Marcus platform is a case in point, as is the explosion of mobile order-ahead technology. Amazon Prime is no longer new, but Amazon sharing data on how many customers they have?
Insights on Business
APRIL 23, 2018
For over a generation, IBM and Citi have collaborated on a number of projects bridging the gap between technology and financial services among two long-established industry leaders. IBM 701 Electronic Data Processing Machine. Starting in 1954 with the “ Electronic Brain ” project that “reduced the time required for a cost-benefit analysis from 1,000 man-hours to nine and a half minutes,” the relationship between these two American institutions continues producing innovative solutions in the fina
PYMNTS
APRIL 23, 2018
Payments messaging company SWIFT is hoping to launch real-time payments services in the Asia Pacific region, according to Verdict reports on Friday (April 20). The publication said SWIFT is in discussions to create a consortium of financial institutions across Australia, China, Singapore and Thailand to develop a cross-border, real-time payment service for the region powered by SWIFT’s gpi (global payments innovation) technology.
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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.
Bobsguide
APRIL 23, 2018
“Amsterdam is known for two things, bikes and canals”, said SAP Ariba President, Barry Padgett as he opened the SAP Ariba Live event in Amsterdam on April 23, arriving on stage by doing a few circles on a bicycle. Previous. Greater connection, greater technology - the.
PYMNTS
APRIL 23, 2018
Walmart is getting extremely close to securing a deal that would give it a majority stake in Indian eCommerce powerhouse Flipkart. That deal will reportedly be for $12 billion at the low end, and experts forecast that the two sides could come to a final agreement within the next two weeks, according to news from Bloomberg. Reports indicate that all major investors in the firm are on board with the big Walmart buy.
Bobsguide
APRIL 23, 2018
Yes, I know, another article about GDPR. It’s probably making you either shudder or yawn as the deadline slowly but surely approaches. Maybe your processes are water tight, or else you’re still working out the final details; whatever your status, does GDPR have to be such an onerous.
PYMNTS
APRIL 23, 2018
Martin Lewis, a consumer advice and money-saving expert, is lodging a lawsuit against Facebook because the social media network published fake advertisements that has his name and face included in them. The Guardian , citing Lewis, reported he is looking for damages and is suing for defamation, arguing Facebook did not prevent or move fast enough to remove the advertisements that have hurt his reputation and resulted in victims getting lured into costly financial scams.
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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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