Payments Dive
MAY 11, 2018
Bank of America's Head of Digital Banking Michelle Moore and PayPal CEO Dan Schulman each made separate comments the past couple of weeks about the future of digital payments in the U.S. The problem is that right now, they're way off.
Bank Innovation
MAY 11, 2018
SANTA CLARA, Calif. - Largely triggered by Google's demo showing Google Assistant imitating human voice to book a hair appointment (see here; it’s pretty impressive), the chatter on Day 3 of FinovateSpring here was all about conversational banking. Many banks are adopting conversational chatbots, but there is still no equivalent of Amazon's Alexa or Google's Assistant […].
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PYMNTS
MAY 11, 2018
Robots aren’t going to take over the world, but humans could use them for some scary stuff. That’s Amazon CEO Jeff Bezos’s take on artificial intelligence (AI), according to CNBC. And in the wake of Google ’s latest tech revelation, many experts are agreeing with him. Google revealed its human-sounding AI assistant Google Duplex during this week’s I/O conference.
Payments Dive
MAY 11, 2018
Transform Economics, Scale and Efficiency of Reconciliation Operations
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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
PYMNTS
MAY 11, 2018
One of the small joys of travel is waking up a bit later than expected, then skipping the check-out desk on the way to a cab or shuttle bus, the morning off to a strong start because there was no need to wait in a line. That’s one of the driving ideas behind a new service that Marriott International recently launched for Chinese travelers going overseas — a service that also helps to demonstrate how the country’s growing tourist class is changing payments and retail.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
MAY 11, 2018
Apple and Goldman Sachs Group are in the midst of bringing a joint Apple Pay-designated credit card to market. The news comes at a critical juncture in the product lifecycle of Apple Pay. It’s been more than three years since the launch of the mobile wallet and, as classic business theory goes, this moment in time should mark the top of the S-curve for a new product — the point where it is at peak adoption.
PYMNTS
MAY 11, 2018
They started out selling gum, and now they’re selling tossed salads. Modern vending machines have come a long way since the first coin-operated machines were introduced in the 1880s. Now, they are a thriving, global business. Between now and 2021, the American interactive kiosks market is projected to grow by an annual rate of 7.2 percent. In 2016, the market generated $717 million in revenue, 30 percent of which came from food and beverage kiosks — the largest share of total revenue of any cate
Payments Dive
MAY 11, 2018
Accelerating Business Performance with Data-Driven Insights
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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
PYMNTS
MAY 11, 2018
Innovation implies a break from the conventional ways of operating a business. Ultimately, innovation is oxygen for companies in almost any vertical, as competition demands new products and services, improving customer experiences in unexpected ways. It’s no secret that the regulatory landscape is shifting quickly, requiring firms catering to those very customers through innovation to safeguard them at the same time, especially when it comes to their data.
PYMNTS
MAY 11, 2018
Welcome to Five at Five , your late look at some of the freshest payments news of the day — news you might have missed. Today’s stories include a discussion on why Macy’s eCommerce success does not impress Morgan Stanley and the details behind the joint pursuit of payments by Apple and Goldman Sachs. Google is drawing criticism for robots — specifically, their interactions with humans — and there is a fresh measure of Americans’ debt burdens.
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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.
PYMNTS
MAY 11, 2018
The NYPD is fighting back against ATM tampering with a device called the “Skim Reaper.”. According to CBS News in New York , the device can detect if an ATM or gas pump has been compromised. Credit card skimmers steal more than $1 billion from U.S. customers each year, according to the Secret Service. For its part, the NYPD has four full-time, trained detectives tasked with finding skimmers, but says the problem is too widespread to be stopped with those resources.
PYMNTS
MAY 11, 2018
The latest iteration of Google Maps is slated to launch this summer, TechCrunch reported, with a slew of new features that tie into exploring surroundings, rather than just focusing on getting from here to there. The tech trade publication wrote on Friday (May 11) that the forthcoming exploration tools are geared toward personalization, aided by artificial intelligence.
Bobsguide
MAY 11, 2018
Two hotly anticipated legislations of 2018, PSD2 and GDPR, are products of a new digital dawn. The former was met with wholehearted embrace from a host of third party fintech startups and the wider banking community who envisioned a more customer-centric and competitive Open Banking sector; ripe.
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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.
PYMNTS
MAY 11, 2018
The former head of the Vatican bank is answering tough charges of money laundering and embezzlement, according to news from Reuters. Angelo Caloia, 79, is the highest-ranking Holy See financial official to stand trial. He, along with lawyer Gabriele Liuzzo, 95, stand accused in a trial within the Vatican that began on Wednesday (May 9). However, Liuzzo is reportedly in ill-health and was unable to attend.
PYMNTS
MAY 11, 2018
As FinTech firms grow in popularity with their personalized services and sleek mobile apps, HSBC looks to compete by launching a multi-account app for customers in the U.K. The new app, which was dubbed “Connected Money,” garnered 13,000 downloads within one day of its rollout, Reuters reported. Through the app, users can take a look at their accounts at up to 21 different banks.
Payments Source
MAY 11, 2018
The correct strategy needs to be built around the mindset that the attackers might eventually succeed, and that with the right tools, the breach can be detected early, the extent of it can be controlled, and the attack can be stopped before a lot of damage is inflicted, writes Engin Kirda, a professor of computer science at Northeastern University.
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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.
PYMNTS
MAY 11, 2018
New data shows that Americans are on pace to accumulate a collective $4 trillion in consumer debt by the end of 2018. LendingTree , the nation’s leading online loan marketplace, released its first Consumer Debt Outlook for May 2018 — it found that collectively, Americans owe more than 26 percent of their income on consumer debt, up from 22 percent in 2010.
Payments Source
MAY 11, 2018
It's an important pivot point for the industry — consumer trust is threatened by a steady flow of data breaches, and consumers are divided on whether they want to stick with plastic or move on to mobile and wearable payments.
PYMNTS
MAY 11, 2018
France-based startup Tinubu Square is launching an innovation lab to explore technologies for the trade credit finance and insurance industries. Reports in Global Trade Review on Thursday (May 10) said Tinubu Square announced the lab to collaborate with existing clients on emerging technologies. Initially, the lab will focus on APIs, blockchain and deep analytics, with additional technologies on which collaborators will focus moving forward.
NCR
MAY 11, 2018
Steps towards cashless societies around the world seem to have taken significant steps forward in the last couple of years, with acceptance of non-cash payments becoming more widespread and technologies such as contactless aiming to make transactions more streamlined. But while offering a choice of payments is certainly a good thing, there are growing concerns that this choice is being taken away from consumers as some countries push towards cashless.
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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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