Chris Skinner
AUGUST 16, 2018
On Wednesday, the UK’s Competition and Markets Authority published the first survey of whether retail or small business customers would recommend their bank to family and friends. The information must be published by the bank in their branches, website and apps, and is pretty embarrassing for some and good for others. … The post Forcing banks to tell customers their ranks appeared first on Chris Skinner's blog.
PYMNTS
AUGUST 16, 2018
Belgium, which is home to many European Union (EU) institutions, is also a burgeoning FinTech hub. The country has the fifth-highest number of FinTech deals in Europe, according to an analysis from Belgium-based European FinTech platform B-Hive. The average FinTech deal size in the region is doubling, but B-Hive noted a decrease in the number of deals.
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Chris Skinner
AUGUST 16, 2018
For all the negative views of technology, the positive is that it is enabling and inclusive. This is what Digital Human explores in depth. The main critique of my book is that it is too optimistic about the future of technology, and should be more balanced. Nevertheless, after yesterday’s post … The post Technology is improving the world, not destroying it appeared first on Chris Skinner's blog.
Bank Innovation
AUGUST 16, 2018
The demand for P2P payments does not seem to be slowing anytime soon. A study released today by research firm Aite and Early Warning, owner of the bank-based P2P firm Zelle, found that P2P payments will triple by 2020. In the U.S. alone, Aite projects “over 300% growth from 2015 to 2020—from $100.3 billion to $316.6 billion” […].
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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 16, 2018
Things we’re reading today include … RBS could move BILLIONS abroad over hard Brexit fears Banks Are Eyeing $1.5 Trillion in Credit Card Secrets Research suggests bigger banks are worse for customers TSB online banking goes down again as customers complain after another outage Seven out of 10 people in … The post Things worth reading: 17th August 2018 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.
Bank Innovation
AUGUST 16, 2018
The future of mobile banking is having everything on a single app. Fintech companies like Credit Karma, Betterment, Acorns have repeatedly echoed that sentiment of striving to be a one-stop-shop for all financial matters of their customers. Following in those footsteps is debt-management app Tally, which launched a roboadvisor feature yesterday and raised $25 million […].
PYMNTS
AUGUST 16, 2018
Zoho , the maker of an operating system for businesses, announced on Thursday (Aug. 16) that it will automatically import Uber for Business trip receipts into Zoho Expense, its expense reporting and tracking software. In a press release , Zoho said that with direct integration between the Uber and Zoho apps, business travelers don’t have to manually forward Uber receipts to Zoho Expense.
Payments Dive
AUGUST 16, 2018
Long-term structural trends mean that retailers must address decreasing revenues and escalating costs, while evolving the in-store experience to meet the demands of the connected consumer. For this reason, transformative technologies such as mobile scan-and-go solutions are coming to the fore, with deployments across the world gaining momentum.
PYMNTS
AUGUST 16, 2018
Welcome to The Axis, your late look at payments news from around the world. Coverage includes Fortumo ’s rollout of direct carrier billing in Sweden. In addition, Australia Post is deploying a multilane payment solution from Verifone , and MySQUAR has rolled out a soft-launch of a remittance service. Estonia -based tech firm Fortumo unveiled direct carrier billing and SMS messaging in Sweden, the company said in an announcement.
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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
Payments Dive
AUGUST 16, 2018
One of the overriding themes from this year's event held in Chicago was an emphasis on design, whether it's a mobile app, a loyalty program, or delivery options.
PYMNTS
AUGUST 16, 2018
Zelle , the digital payment app that enables consumers to send money to friends and family, is gearing up to expand its offering to enable customers to pay small businesses. Bloomberg, citing people familiar with the situation, reported Zelle is in the process of enhancing its risk assessment tools as part of the effort to make it safe for people to pay small businesses.
Payments Source
AUGUST 16, 2018
The U.S. may be next to see a surge of contactless credit cards, following other major markets around the world. But it’s unclear whether enough U.S. consumers are interested in contactless payments for issuers to make the investment.
PYMNTS
AUGUST 16, 2018
First, there was automation, then robotics process automation (RPA). As the enterprise makes its way through the Industry 4.0 age of automation and data sharing, analysts say there is yet another wave ahead, combining smart technologies to make businesses more efficient. Industry 4.0 is the term given for the current trend of automation within the enterprise.
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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.
Bobsguide
AUGUST 16, 2018
Cross-border payments company Ripple has today announced partnerships with Bittrex, the digital asset exchange for xRapid through US dollars, Bitso, the digital asset exchange for Mexican Pesos, and Coins.ph digital asset exchange for Philippine Pesos. This year, Ripple has.
PYMNTS
AUGUST 16, 2018
Approved, the online mortgage platform company, announced Thursday (Aug. 16) in a blog post that it has been acquired Credit Karma. In a blog post , Approved Chief Executive and Founder Andy Taylor said that with the acquisition, Credit Karma is gearing up to build a consumer-facing digital mortgage platform for its 80 million members. “We started Approved with a vision that borrowers could visit an open house not having even talked with a lender, find the home of their dreams and get full
CFPB Monitor
AUGUST 16, 2018
According to media sources, the Senate Banking Committee has rescheduled a vote on President Trump’s nomination of Kathy Kraninger to serve as CFPB Director for August 23. There is little doubt that the Committee will approve Ms. Kraninger. It remains unclear, however, whether and when the full Senate will consider her nomination. We continue to believe that it is unlikely that the full Senate will consider her nomination before the mid-term elections.
PYMNTS
AUGUST 16, 2018
Traditional brick-and-mortar retailers are rolling out omnichannel options. To that end, Home Depot has been installing lockers in many of its locations to allow customers who place online orders to easily pick up their merchandise at the store. The move enables the retailer to get items to online customers right away, instead of having them wait for their purchases to be delivered to their home and comes as “[customers] want as many options as you can possibly give them,” a Home Depot spokes
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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.
CFPB Monitor
AUGUST 16, 2018
RD Legal Funding has submitted a letter to Judge Preska indicating that it does not oppose her entry of a Rule 54(b) judgment to allow the CFPB to appeal her June 21 constitutionality ruling to the Second Circuit but renews its request that the proceeding be stayed during the pendency of any appeal. RD Legal’s letter responds to the CFPB’s August 10 letter to Judge Preska indicating that it plans to file a motion for entry of a judgment pursuant to Rule 54(b).
PYMNTS
AUGUST 16, 2018
More than 50 percent : That’s the amount of U.S. bills paid online. As eCommerce continues to rake in revenue — global sales volume topped $2.3 trillion in 2017, and that could nearly double by 2021 — online billing platforms are rushing to incorporate payment processing capabilities into their offerings. That’s according to the new “ Payments Powering Platforms Tracker ” from PYMNTS.
Payments Source
AUGUST 16, 2018
Wyre has entered into a definitive agreement to sell the majority of its retail money transfer business to WorldFirst, giving the seller a chance to focus more on its cryptocurrency strategy.
PYMNTS
AUGUST 16, 2018
The latest attempt to reinvent the gas run launched on Thursday (Aug. 16), an effort involving Shell , General Motors and mobile payments provider P97 that enables consumers to find and pay for fuel via embedded in-dash technology inside their vehicles. The in-dash fuel payment offering debuts as fresh data paints a sometimes confusing picture of the consumers’ willingness to use mobile technology to buy gas, and as companies scramble to further define — and grab a piece of — the emerging
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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
AUGUST 16, 2018
With increasing value propositions, use of Apple Pay for in-store purchases should continue to increase, writes Mohammad Khan, president and co-founder of Omnyway.
PYMNTS
AUGUST 16, 2018
It’s been called so many things. “The Museum of Ice Cream for Makeup,” according to the team at Racked. “An Instagrammable Makeup Playground ,” wrote the consistently effusive gang at Bustle. It is, called by its proper name, the Winky Lux pop-up shop in New York’s SoHo neighborhood – and by all accounts it is the concept shop that has blown the internet’s collective mind.
Payments Source
AUGUST 16, 2018
The information you need to start your day, from PaymentsSource and around the Web. Square improves chip payment time; Ant pursues emerging markets in Africa; Pabst Blue Ribbon intros a card; CBA pushes small biz payments.
PYMNTS
AUGUST 16, 2018
U.S. retail sales rose higher than expected last month — a sign that the economy remained strong early in the third quarter. According to Reuters , the Commerce Department revealed that, with the exclusion of automobiles, gasoline, building materials and food services, retail sales increased 0.5 percent in July, and rose 6.4 percent from a year ago.
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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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