Bank Innovation
SEPTEMBER 8, 2017
Data leaked from the hack of credit reporting agency Equifax includes the credit card information of about 209,000 of the agency’s customers, according to the company. Equifax, which first became aware of the attacks in July, announced yesterday that the attack had potentially impacted about 143 million customers. The attack exposed data like social security […].
Chris Skinner
SEPTEMBER 8, 2017
And continuing my shameless self-interest, a little more on the new book … I’ve been musing for a while about inclusivity, and find that the world is truly being transformed as everyone joins the network. It is the theme I present all the time right now, and discussions around M-Pesa, … The post Digital Human (my new book) appeared first on Chris Skinner's blog.
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Bank Innovation
SEPTEMBER 8, 2017
EXCLUSIVE – With its first credit card out today, New York fintech Petal aims to serve the “credit invisible,” according to its CEO and co-founder Jason Gross, by granting credit cards sans credit score. Instead of focusing on credit scores, Petal looks at an applicant’s financial behavior. The consumer’s digital financial profile has three main […].
Payments Dive
SEPTEMBER 8, 2017
Because remittance payments are often driven by an emotional or personal motivation, they cannot be treated in the same way as a normal transaction.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Bank Innovation
SEPTEMBER 8, 2017
In what has quickly become one of the largest data breaches in history, Equifax said yesterday that 143 million American Social Security numbers and other sensitive data were hacked. Equifax is one of the three major consumer credit reporting agencies, alongside Experian and TransUnion, and represents a kind of skeleton key for personal data. The hackers who […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
SEPTEMBER 8, 2017
EXCLUSIVE- LendingTree says it is negotiating with Credit Karma to offer Credit Karma products to LendingTree’s audience. Doug Lebda, chairman and CEO of LendingTree, said “We expect to be marketing the Credit Karma product very soon.” Lebda apparently disclosed the negotiations during a presentation yesterday at Goldman Sachs & Co. headquarters in New York.
PYMNTS
SEPTEMBER 8, 2017
The Software-as-a-Service (SaaS) startup space is no longer in the limelight, but this week venture capitalists put their own spotlight on the industry, providing more than $75 million to four firms in the sector. The companies range from product life cycle management solutions to those that help other SaaS firms retain clients. Plus, backers showed an interest in small business finance and B2B eCommerce.
Bank Innovation
SEPTEMBER 8, 2017
Chinese insurance company ZhongAn Online Property and Casualty Insurance, which boasts a customer base of 500 million people, has obtained approval to open an initial public offering (IPO) on the Hong Kong stock exchange. China’s first online-only insurance company hopes that the IPO will raise as much as $1.5 billion USD. This would make it […].
PYMNTS
SEPTEMBER 8, 2017
Scientists have discovered that Siri, Amazon’s Alexa and other voice assistant programs can be controlled using inaudible ultrasound commands. The Verge reported news that researchers at China’s Zheijiang University have found that these inaudible commands can be a new cyberattack method for hackers targeting phones, tablets and even cars. To prove their theory, researchers created a program to translate normal voice commands into frequencies too high for humans to hear using harmonics.
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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
SEPTEMBER 8, 2017
Belgian robo-advisor Gambit Financial Services will become the partner for robo-advisory solutions in the French bank BNP Paribas Group’s retail and wealth management services. The announcement comes after BNP Paribas said it bought a majority stake in the robo-advisor. Their purchase was prompted by BNP’s focus on keeping up with changing customer needs, the bank […].
PYMNTS
SEPTEMBER 8, 2017
A new study has found that the number of payment cards issued globally reached 14 billion last year and is predicted to rise to 17 billion by 2022, boosted by an increase in overall debit card issuance. RBR , a strategic research and consulting firm, recently published its “Global Payment Cards Data and Forecasts to 2022” report. The firm found the number of payment cards worldwide increased by 8 percent to 14 billion in 2016, and those numbers are expected to rise by 22 percent to 17 billion by
Bank Innovation
SEPTEMBER 8, 2017
EXCLUSIVE— P2P Venmo challenger Zelle will launch its standalone app this month, allowing customers to use the service directly rather than transacting via a Zelle-enabled mobile banking app. The move will hopefully help Zelle — which is owned by Early Warning Services, LLC — continue the growth it has been consistently seeing over the past year, […].
PYMNTS
SEPTEMBER 8, 2017
Uber is the focus of a federal investigation in New York as authorities determine whether the ridesharing company used software to interfere illegally with its competitors. The Wall Street Journal reported on the investigation, citing sources familiar with the process. The probe, led by the New York office of the Federal Bureau of Investigation (FBI) and the Manhattan U.S. attorney’s office, is focused on a defunct Uber program, known internally as “Hell,” which could track drivers working for r
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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
SEPTEMBER 8, 2017
Malaysia’s Securities Commission joins the band of regulatory bodies cautioning people about the dangers of Initial Coin Offering schemes. On Thursday, the regulatory authority that oversees and enforces financial regulation in Malaysia stated: Investors should also fully understand the features of an ICO scheme, and carefully weigh the risks before parting with their monies.
PYMNTS
SEPTEMBER 8, 2017
Lifestyle brand Rebecca Minkoff has announced an expanded partnership with Alipay which will allow customers in the U.S. to pay with the payment method at Rebecca Minkoff retail locations and online at rebeccaminkoff.com. The announcement precedes the launch of the brand’s fall line, currently being unveiled at New York Fashion Week. Going forward, all locations in the U.S. — including its New York, Chicago, San Francisco and Los Angeles stores — will be accepting the Alipay mobile wallet
Payments Source
SEPTEMBER 8, 2017
It's not just Equifax that needs to worry. The incident can and should be a turning point for the financial services industry that it needs to end its reliance on static personal identifiers like Social Security numbers and birth dates.
PYMNTS
SEPTEMBER 8, 2017
Amazon.com has issued a request for proposals (RFP) from local and state government officials as it looks to open its second headquarters (Hq2) in the U.S. In a company press release , the eCommerce giant said it will invest more than $5 billion in “construction and operation of Amazon HQ2,” and that the second Amazon headquarters will be home to as many as 50,0000 high-paying Amazon jobs.
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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
SEPTEMBER 8, 2017
Cybercriminals know people want to resolve tax payment issues and take advantage of it, writes Matthew Gardiner, senior product manager at Mimecast.
PYMNTS
SEPTEMBER 8, 2017
Weeks after reports surfaced that some small business accounts at HSBC had been frozen, a result of the FI revamping anti-money laundering (AML) crackdowns, HSBC has said it is compensating some of the businesses affected. Published by Reuters on Thursday (Sept. 7), reports noted HSBC has offered to pay some of the U.K. small businesses, according to unnamed sources.
Payments Source
SEPTEMBER 8, 2017
As long as we can create enough trust between the parties involved in a payment transaction, the system works, writes Francis Limousy, principal advisor for UL Transaction Security Advisory Services.
PYMNTS
SEPTEMBER 8, 2017
Target recently announced it has lowered its prices on thousands of items, a news report which resulted in its stock price falling more than 3 percent. In a company blog post , Target noted it has put its “prices and promotions under the microscope.”. “We want our guests to feel a sense of satisfaction every time they shop at Target,” says Mark Tritton, Target executive vice president and chief merchandising officer.
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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.
Let's Talk Payments
SEPTEMBER 8, 2017
MEDICI Now! Startup Stories highlights the companies that are shaping the new financial technology industry. So, keep an eye out each week for new stories! If you think you or someone you know.
PYMNTS
SEPTEMBER 8, 2017
Humans produce an almost staggering amount of waste each year. People purchased 480 billion plastic bottles in 2016 and are on track to increase that figure by more than 100 billion by 2021. More than 8.3 billion tons of plastic have been manufactured since the early 1950s. While some fraction of it is recycled annually, the vast majority of it ends up in landfills or in the ocean.
NCR
SEPTEMBER 8, 2017
The financial services sector in India has been undergoing something of a revolution of late, largely due to efforts by the government to encourage inclusion in the formal financial system and promote the use of digital payments – with aims to reduce the shadow economy and raise tax revenue among the driving forces. One result of this has been debate over the future makeup of the country’s economy, with some suggesting that cash will start to be sidelined as more alternative payments
PYMNTS
SEPTEMBER 8, 2017
Wells Fargo saw a federal appeals court Thursday (Sept. 7) order a federal district judge to take another look at a whistleblower lawsuit lodged against the bank. According to a news report by Reuters , the lawsuit is by two ex-employees who contend they were let go for trying to report misdeeds by lenders that Wells Fargo later acquired. The 2nd U.S.
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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.
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