Bank Innovation
SEPTEMBER 26, 2017
Cash is on its way out, but are bitcoin and other virtual currencies on their way in? Well, maybe. About 9% of American consumers believe that their children, or future generations, will be paying for things in the future with virtual currency, according to a poll of 875 participants conducted by LendEdu. Cash, unsurprisingly, was […].
Chris Skinner
SEPTEMBER 26, 2017
I find more and more people are starting to understand that digital is a transformation project, not just an adjunct to business as usual. But there needs to be more of them. We can liken most people’s thinking about digital in banking for example, to the thinking within the media … The post The digital transformation journey appeared first on Chris Skinner's blog.
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Bank Innovation
SEPTEMBER 26, 2017
EXCLUSIVE – Twelve major banks joined blockchain consortium firm R3 and trade finance technology provider TradeIX on Tuesday in an initiative to develop an open account trade finance business network. The overall goal is to design a new infrastructure behind open account trade finance, and provide the appropriate tools for buyers and sellers. These tools […].
Payments Dive
SEPTEMBER 26, 2017
At the Bank Customer Experience Summit this week in Chicago, retail authority Doug Stephens highlighted shifts in demographics, technology and media that are completely transforming the consumer landscape — and the very essence of retail banking.
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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 26, 2017
Healthcare Savings Account provider Lively Inc. has raised $4.2 million in new funding, and added a new investment capability in partnership with TD Ameritrade. The new capability works through an integration with TD Ameritrade Institutional’s Self-Directed Plan Services platform, which should expand the long-term value of the San Francisco- based Lively’s HSA offering.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
SEPTEMBER 26, 2017
EXCLUSIVE—Speedy, flashy financial service through mobile or a wearable is all well and good, but the product has to respond to changing customer needs as well. That’s why financial technologies provider Kasasa has come up with a loan product that will allow users to “take back” some of their funds. “There’s lots of information out […].
Accenture
SEPTEMBER 26, 2017
In my view, electronic payments will accelerate dramatically over the next decade, driven by the “atomization of payments.” New business models are emerging, enabled by technology, resulting in increased transactions that will scale and scale. We are fast moving from batch to real-time transactions, with payments made continuously from bank accounts.
Bank Innovation
SEPTEMBER 26, 2017
Japanese banks are planning to create a national digital currency for the nation, known as “J Coin,” that will be ready for the 2020 Olympics set to take place in Tokyo. The digital currency will be introduced by a consortium of banks, with Japan Post Bank and the Mizuho Financial Group at the head. The […].
Abrigo
SEPTEMBER 26, 2017
Banks have a wealth of information available to them, and if they use the right tools to dissect that information, they can make major process changes that improve what matters most to customers – both customers of today and tomorrow. For example, according to a recent poll during the Sageworks Risk Management Summit, 39 percent of bankers say it typically takes their financial institutions from three to six weeks to close a new commercial loan, and another 36 percent said it takes more than six
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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 26, 2017
EXCLUSIVE- It’s a truism that banks can’t work together, but we live in an age of consortia, where groups of banks get together on things like blockchain (though, some have said they are more like “blockchain support groups.”) Pivotus Ventures, a wholly owned subsidiary of Umpqua Bank, famous for its highly designed branches and fanatical […].
Abrigo
SEPTEMBER 26, 2017
A major concern surrounding technology expenditures is whether the investments will generate a return for the accounting practice. Indeed, it is this worry that keeps partners and some firms stuck using outdated solutions when they could make their work easier and grow the practice with new, differentiated services. However, identifying the return on investment begins with ascertaining which everyday challenges can be addressed with technology.
Bank Innovation
SEPTEMBER 26, 2017
Four major Australian banks have dropped fees for cash withdrawals at their domestic ATMs, in a move that could save Australian ATM users millions annually. The Commonwealth Bank of Australia, Westpac Banking Corporation, and the National Australia Bank Ltd all immediately removed their fees from their machines this past Sunday, while a fourth bank, the […].
PYMNTS
SEPTEMBER 26, 2017
Blockchain remains a hot topic among FinTech innovators, and now, more corporates are paying attention. That’s according to Juniper Research, which recently released the results of a survey polling nearly 400 corporate executives, founders, managers and IT specialists on the topic. In an article for Venture Beat published Monday (Sept. 25), Windsor Holden, head of forecasting and consultancy at Juniper Research, said the survey showed a “dramatic” increase in the awareness of blockchain
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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.
Bank Innovation
SEPTEMBER 26, 2017
Several banks in Singapore have closed the accounts of an estimated 10 firms specializing in cryptocurrency and payments services. Anson Zeall, chairman of Access, Singapore’s Cryptocurrency and Blockchain Industry Association, said yesterday in an interview with Bloomberg that this is a problem “common among leading FinTech hubs” in many countries and urged Singapore’s government to […].
PYMNTS
SEPTEMBER 26, 2017
Following the Equifax data breach, biometrics and data security have come under increased scrutiny as more companies and consumers consider their security-enhancing features. As a result, new biometrics solutions are popping up, adding additional layers to protect data and secure accounts that need extra care. Apple unveiled a facial recognition (Face ID) replacement for fingerprint scanning on its new top-of-the-line iPhone X, and several other companies took a page from Apple’s playbook by add
Payments Source
SEPTEMBER 26, 2017
Inevitably, Equifax’s CEO Richard Smith has left his post. For the credit bureau's sake, let's hope it has a long-term plan that's better than promoting from within.
PYMNTS
SEPTEMBER 26, 2017
At PYMNTS, we love mobile order ahead , but what happens when mobile ordering isn’t enough – or rather, when it’s too much? After getting their first taste of mobile ordering, some restaurants are finding it’s not to their liking and are sending it back to the kitchen. Mobile apps – both restaurant-specific ones, and aggregators like UberEATS – can make ordering easier for the consumer.
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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.
Bobsguide
SEPTEMBER 26, 2017
No other industry has been impacted by evolving technology more than financial services. Mobile banking, 24-hour trading, and the dramatic rise in the total amount of data that needs to be processed have put tremendous pressure on system performance and scale. Meanwhile, evolving regulations, the.
PYMNTS
SEPTEMBER 26, 2017
A new report from Commonwealth Bank suggests small and medium-sized businesses (SMBs) in Australia are struggling to make use of the financial data at hand. Reports Monday (Sept. 15) noted that 54 percent of small business owners don’t feel their efforts in financial planning and forecasting are effective and living up to their potential, with one-quarter noting they do not have the ability to see if their planning efforts were effective.
Let's Talk Payments
SEPTEMBER 26, 2017
While the mainstream media bombards finance and tech professionals with announcements from well-known names, the LTP Team reaches out to every corner of the world to speak with gems of.
PYMNTS
SEPTEMBER 26, 2017
The lines are blurring between competition and collaboration as Google reaches across enemy lines to partner with Apple. Or, if “partner” is too strong a word, then at least to cooperate for the greater good. The search engine giant extended not one, but three olive branches to the luxury tech-maker this week, but could it all be part of a grander plan on Google’s part to take the tech giant’s place?
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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 26, 2017
Until recently, many of the fraud prevention tactics employed by organizations have added to, not reduced, customer friction across the buying cycle, writes Michael Lynch, chief strategy officer at InAuth.
PYMNTS
SEPTEMBER 26, 2017
The U.S. Securities and Exchange Commission (SEC) announced it is launching two enforcement initiatives to boost efforts to address cyber threats and protect retail investors. The move comes in the wake of the massive Equaifax hack, which exposed the personal data of 143 million Americans. The SEC suffered its own breach of its corporate filing database.
Bobsguide
SEPTEMBER 26, 2017
The drive for greater financial inclusion and improvement in user experience surrounding credit facilities, coupled with the ever-changing regulatory landscape, is spearheading evolution in the assessment of consumer lending affordability. Affordability assessments are no longer fit for purpose.
PYMNTS
SEPTEMBER 26, 2017
Might ominous signs be emerging from the supply channel for Apple’s iPhone X ? According to a DigiTimes news report, the tech giant has told some of its component suppliers to hold back on shipping at least some of the parts used in the iPhone X. The site said it had gotten this information through sources at “Taiwan-based upstream component suppliers.”.
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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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