Chris Skinner

JUNE 23, 2019

Following on from Facebook’s announcement of its own digital currency Libra, the key regulatory body of banking – the Bank for International Settlements (BIS) – which sets standards like the Basel capital reserve requirements, has stepped into the debate and produced a report on their view of the threat and … The post Is Big Tech good or bad for banking … the regulator’s view appeared first on Chris Skinner's blog.

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PYMNTS

JUNE 23, 2019

As tech firms such as Facebook move into the world of finance, the Bank for International Settlements ( BIS ) said on Sunday (June 23) that politicians need to coordinate regulatory responses to risks provided by these companies coming into the space. BIS said that the social media firm’s recent announcement that it aims to roll out its Libra digital currency and grow into payments has focused the minds of central bankers as well as regulators, Reuters reported.

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Regulation social media Report Innovation 140

Chris Skinner

JUNE 23, 2019

Things we’re reading today include … Has Deutsche Bank left it years too late for a turnaround? U.S. regulators ask Deutsche Bank to explain ‘bad bank’ proposal – FT Britain’s HSBC to help modern slaves ‘rebuild lives’ with bank access Malaysia’s 1MDB criminal case against Goldman Sachs delayed to September … The post Things worth reading: 24th June 2019 appeared first on Chris Skinner's blog.

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Regulation 205

PYMNTS

JUNE 23, 2019

A new survey has found that 19 percent of bitcoin traders have been the victim of a hack on cryptocurrency exchanges, while 15 percent of consumers have been hit with crypto fraud. The report , “Uncharted Territory: Why Consumers are Still Wary about Adopting Cryptocurrency,” also found that only one in ten people truly understand how cryptocurrencies work, and 29 percent have “some knowledge” of digital currencies, with that lack of knowledge stifling mainstream adoption.

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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

Lending

Payments Source

JUNE 23, 2019

Compliance can be complex and expensive, but failure puts merchants at risk, says FIME's Christian Damour.

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Payments Source

JUNE 23, 2019

Banks are rightly focused on PSD2 as an international gateway for fintechs to disrupt banking, though potential deregulation in Singapore can give digital payment companies another route to take share directly away from banks.

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Regulation Fintech Payments Company 85

PYMNTS

JUNE 23, 2019

The European Banking Authority ( EBA ) published an opinion on strong customer authentication ( SCA ) under the revised Payment Services Directive ( PSD2 ), acknowledging that implementing the new standards might be difficult for some merchants. Businesses and banks have expressed their concerns over the EBA’s new standards that require “strong customer authentication” for all electronic payments over €10 (around $10.50).

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BankBazaar

JUNE 23, 2019

If you own a vehicle, you will know how important an RC book/card is. In India, it’s mandatory to have a copy with you while you are driving. An RC or Registered Certificate copy is a document which proves that your vehicle has been duly registered with the RTO authorities. Today, you will receive your RC copy in the form of a Smart Card. This card will have the registration date, registration number, chassis number, engine number, vehicle type, colour of the vehicle, model number, seating capac

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PYMNTS

JUNE 23, 2019

In an online food delivery service market that is becoming more crowded, some of the largest operators of restaurants are renegotiating with the firms that bring takeout to consumers. While restaurants were once fast to sign up for delivery services, they are now seeking lower rates as competition in the space is heating up, The Wall Street Journal reported.

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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

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The Paypers

JUNE 23, 2019

(The Paypers) Shopify has launched a new Shopify Plus for enterprise, unveiled its next-generation Point of Sale (POS) software, and added more language, payment, and store capabilities.

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PYMNTS

JUNE 23, 2019

The European Banking Authority ( EBA ) published an opinion on strong customer authentication ( SCA ) under the revised Payment Services Directive ( PSD2 ), acknowledging that implementing the new standards might be difficult for some merchants. Businesses and banks have expressed their concerns over the EBA’s new standards that require “strong customer authentication” for all electronic payments over €10 (around $10.50).

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CA Compliance Online Payments 115

The Paypers

JUNE 23, 2019

(The Paypers) The Paypers sat down with Myles Stephenson , the Chief Executive of Modulr to chat about Payment-Accounts-as-a-Service and the latest advancements in commercial digital accounts for B2B payments

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Payments 28

PYMNTS

JUNE 23, 2019

Bitcoin price surpassed $10,000 for the first time in more than a year. The cryptocurrency hit the milestone late Friday (June 21) and by the next morning, it had climbed above $11,000. In fact, bitcoin has more than tripled in value from its low at the end of 2018, giving investors hope that the worst is over for the world’s most popular crypto. Its rebound comes as Facebook unveiled its own digital currency, Libra , and has found some big-name backers for the project, including Visa, Masterca

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Bitcoin social media cryptocurrency blockchain 108

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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.

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The Financial Brand

JUNE 23, 2019

The majority of traditional banking organizations continue to be slow to respond to digital competitors. Misleading metrics don't help. The post Many Banks Don’t Understand The Need For Digital Transformation appeared first on The Financial Brand.

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PYMNTS

JUNE 23, 2019

Some of the world’s largest conglomerates are raising concerns about an impending economic recession in the U.S., supply chain disruptions stemming from trade disputes, and a global market shakeup from Brexit. But as analysts explore the current state of the economy – and where it’s headed – they’re also turning to small businesses, whose outlook can similarly offer an accurate gauge about economic health.

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The Financial Brand

JUNE 23, 2019

Banks and credit unions keep watching the sea for Amazon's 'landing' via checking. But the e-tailer parachuted major forces inland long ago. The post While Financial Execs Await Amazon ‘Invasion,’ Online Giant Partners On appeared first on The Financial Brand.

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Online Branding Digital Banking Strategy 33

PYMNTS

JUNE 23, 2019

Overstock CEO Patrick Byrne said that he welcomes Facebook ’s entry into the cryptocurrency market. At the the Fortune Brainstorm Finance conference in Montauk, N.Y., Byrne told CNN Business that the social media giant’s launch of its own digital currency validates the space — and Overstock would be open to partnering with Facebook on the project. Overstock has spent $150 million on its blockchain business, tZero; the company owns 82 percent of the exchange.

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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.

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The Paypers

JUNE 23, 2019

(The Paypers) Ecommerce in Turkey was worth around EUR 5.74 billion in 2018, with 38% growth compared to 2018, according to a report by Nielsen.

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Report 28

The Paypers

JUNE 23, 2019

(The Paypers) Amazon has invested INR 450 crore (around USD 60,47 million) in its digital payments arm Amazon Pay in India.

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Payments 28