Bank Innovation
SEPTEMBER 19, 2018
It’s been quite a busy year for Germany’s first digital-only challenger bank Fidor. The bank launched two more digital banks this year, and Fidor Chief Commercial Officer Ge Drossaert told Bank Innovation there is yet another bank in the works. “When we build a digital bank, we are creating a digital ecosystem,” said Drossaert. "We […].
PYMNTS
SEPTEMBER 19, 2018
Amazon.com announced Wednesday (September 19) that it launched in Turkey, enabling consumers in the country to shop from millions of products over the internet. In a press release , Amazon said Amazon.com.tr is now live, featuring products in 15 different categories including books, consumer electronics, sports, outdoor, tools and more. “Our mission at Amazon is to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, at great pri
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Chris Skinner
SEPTEMBER 19, 2018
Things we’re reading today include … Funding Circle seeks valuation of up to £1.8bn in IPO Social media could destabilise the economy, Bank of England warns Danske bank chief resigns over €200bn money-laundering scandal World Bank reports slower progress on extreme poverty TSB to bid for £833m RBS fund despite … The post Things worth reading: 20th September 2018 appeared first on Chris Skinner's blog.
PYMNTS
SEPTEMBER 19, 2018
The treasury management unit of PNC Bank is joining RippleNet, the firm said on Wednesday (Sept. 19). PNC Treasury Management joined the Ripple cross-border payments network that uses blockchain to facilitate global transactions. As members of the network, corporate customers of PNC Treasury Management will be able to receive cross-border payments, the FI said, adding that the solution can help them receive payments against their invoices more quickly for streamlined accounts receivable.
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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
Matt Wilcox Pro
SEPTEMBER 19, 2018
I am the first to admit that when it comes names of commemorative months, National Cyber Security Awareness Month isn’t the sexiest. Reducing it to the initialism NCSAM makes it easier to write, but not easier to pronounce—En-see-sam? Nik-sam? Ink-sam?—and it it doesn’t help in the sexiness department, either. Perhaps that’s why, even though NCSAM has been [.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bobsguide
SEPTEMBER 19, 2018
Remittances to Latin America are big business. According to research by The Dialogue, the value of remittances to 17 countries in the region grew by over 8% from 2016 to 2017, reaching over $75bn. This increase far exceeds the World Bank’s forecasted 1.2% economic growth for the entire region.
PYMNTS
SEPTEMBER 19, 2018
Entersekt , the push-based authentication and mobile app security company, announced that it has appointed FinTech veteran Christian Ali as its country manager of Canada. The news comes as Entersekt continues its expansion into the United States and Canadian markets. Ali has spent more than 20 years in the payments and digital identity spaces, working as an executive at Dream Payments, SecureKey, and EnStream.
Payments Source
SEPTEMBER 19, 2018
Stressing a need to address security in mobile payments and banking, ASC X9 has introduced a new standard — essentially part three of its wireless safety efforts, focusing on the management and security of mobile commerce implementations.
PYMNTS
SEPTEMBER 19, 2018
Square is in consideration of offering traditional banking services through its peer-to-peer (P2P) payment app. At Recode’s annual Code Commerce conference in New York on Tuesday (Sept. 18), Square Chief Financial Officer Sarah Friar admitted the company is considering “lots of ideas,” including savings products and allowing customers to trade stocks. “Anything you do today with a bank account, you should look to the Cash App to begin to emulate more and more of that,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
CFPB Monitor
SEPTEMBER 19, 2018
CFPB Acting Director Mick Mulvaney recently responded to former CFPB Student Loan Ombudsman Seth Frotman’s vocal departure from the Bureau. As previously reported , Frotman tendered his resignation in a letter—also delivered to members of Congress—which accused Mulvaney of being derelict in his oversight of the “student loan market.” Among other things, Frotman accused Mulvaney of undercutting enforcement, undermining the Bureau’s independence, and shielding “bad actors” from scrutiny—collect
PYMNTS
SEPTEMBER 19, 2018
ALDI has announced that it is expanding its online grocery delivery service to all of its stores in the United States. According to Chain Store Age , the German supermarket company will use its partnership with Instacart to roll out the service to 75 major markets, including San Diego, New York City, Miami, Raleigh and Minneapolis. By Thanksgiving, it will be available in 5,000 new areas in 35 states.
Insights on Business
SEPTEMBER 19, 2018
IBM RegTech Innovations. In 2010, I was traveling with my son, when his name was flagged for a partial match to a suspicious person by the US Transportation Security Administration (TSA). The TSA agent, dutifully asked if he could have a word with my son to sort out this issue, to which I replied, “Be my guest.”. My son was just 18-months old at the time, so the conversation didn’t go too far.
PYMNTS
SEPTEMBER 19, 2018
Danske Bank ’s chief executive Thomas Borgen is stepping down from Denmark’s largest bank amid a money laundering scandal with its small but profitable Estonian branch. According to a report in the Wall Street Journal, Borgen said it “is clear that Danske Bank has failed to live up to its responsibility in the case of possible money laundering in Estonia,” and while the executive said the i nvestigations didn’t find he breached his legal obligations, he is stepping down.
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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 19, 2018
Once personal and financial information is accessible to criminals, it feeds the pipeline of future cybercrime for years to come, writes Ryan Wilk, vice president of customer success for NuData Security.
PYMNTS
SEPTEMBER 19, 2018
In the late payments battle, a popular strategy to ease cash flow concerns is to target the business getting paid late. Broadening access to trade finance and small business (SMB) loans can help small suppliers that face lengthy payment terms from their large corporate customers to ensure operations (and cash) flow smoothly — even while they wait months to see an invoice settled.
Bobsguide
SEPTEMBER 19, 2018
Last week Absa Bank, one of Africa’s largest diversified financial services groups, launched its UK office. The move supports the group’s ambition to open Africa to the UK and Europe as the preferred corporate and investment banking partner, even if trade relations between the.
PYMNTS
SEPTEMBER 19, 2018
Newegg, the electronics retailer, was reportedly the victim of a data breach that lasted a month. According to a news outlet citing RiskIQ Threat Researcher Yonathan Klijnsma, the research found that hackers installed 15 lines of card skimming code on Newegg’s payments page, which stayed on the site from Aug. 14 through Sept. 18. The hackers sent credit card data to a service controlled by them, noted the report.
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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
SEPTEMBER 19, 2018
Hackers are illegally generating Monero, Bitcoin and other cryptocurrencies by exploiting a software flaw that was leaked from the U.S. government, raising questions about the security of one of the fastest-growing corners of financial markets.
PYMNTS
SEPTEMBER 19, 2018
Artificial intelligence (AI) and machine learning (ML) are blurring the divide between online and in-store shopping, and bringing an all-new human element into retail. By incorporating visual recognition technology and artificial intelligence into their business models, retailers like Neiman Marcus , IKEA , H&M , west elm and more are leveraging mobile devices and AI to provide advanced customer services.
Bobsguide
SEPTEMBER 19, 2018
Announed on September 19, komgo SA aims to digitalise the commodities trading sector through a blockchain based open platform.
PYMNTS
SEPTEMBER 19, 2018
Financial service providers in Hong Kong are readying to facilitate real-time payments for both corporate and non-corporate customers as the market’s Faster Payment System (FPS) comes into effect. Reports in Marketing Interactive on Tuesday (Sept. 17) said the Faster Payment System will launch Sept. 30, and financial institutions (FIs) like HSBC are gearing up.
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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
SEPTEMBER 19, 2018
Chief Executive Officer Jeff Bezos sees eliminating meal-time logjams in busy cities as the best way for Amazon to reinvent the brick-and-mortar shopping experience, where most spending still occurs.
PYMNTS
SEPTEMBER 19, 2018
India is increasingly a hotbed for commerce, and that trend continues with Nestle, Unilever and Coca-Cola reportedly each bidding for GlaxoSmithKline’s nutritional business, Horlicks of India. According to Reuters , Horlicks will cost more than $4 billion and “initial bids were due on Monday and the three consumer goods giants are seen as frontrunners for a business that offers a significant footprint in a fast-growing emerging market.”.
CFPB Monitor
SEPTEMBER 19, 2018
The CFPB and its Acting Director are facing a proposed class action lawsuit alleging discrimination against minority and female workers based on allegations of lesser pay and fewer promotions than their white male counterparts. The case is captioned at, Jones et al v. Mulvaney, U.S. District Court, District of Columbia, No. 18-2132. The Complaint, filed on September 13, 2018, in the D.C.
PYMNTS
SEPTEMBER 19, 2018
Funding Circle, the peer-to-peer lending company that is gearing up to launch an initial public offering (IPO), could be valued at as much as $2.4 billion. CNBC, citing the U.K. FinTech, reported the company is pricing its IPO at a range of 420 pence to 530 pence per share. The IPO will be made up of a maximum of 71.4 million new shares and a secondary offering that has yet to be determined, noted the report.
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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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