Bank Innovation
JANUARY 23, 2018
EXCLUSIVE- Bank of America has quietly shuttered its free checking account, now requiring customers to keep a certain minimum balance in their accounts, or set up direct deposit of at least $250, to avoid a $12 monthly fee, the Wall Street Journal reported yesterday. The banks’s eBanking customers, all of which were switched into accounts […].
Payments Dive
JANUARY 23, 2018
The company behind the banking industry's mobile P2P effort had to think outside the box to get the service's core tenants across in three TV commercials.
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Bank Innovation
JANUARY 23, 2018
Japanese cryptocurrency exchange bitFlyer today announced its launch in Europe. bitFlyer, the first Bitcoin exchange to be regulated in Japan and the U.S., said it received a Payment Institution (PI) license to operate in the European Union. The company’s founder and CEO of bitFlyer, Yuzo Kano, said in a statement: When I set up bitFlyer […].
PYMNTS
JANUARY 23, 2018
It’s been about a year in the making. But here we go with Amazon Go, newly out of beta this week and available to the public, in what the eCommerce juggernaut hopes will be a brick-and-mortar retail game changer. It seems the brick-and-mortar arena continues to entice online merchants, as the store opened its doors at Amazon’s Seattle headquarters. The shopping is done via mobile, by app specifically, and customers get to leave with what they’ve bought without having to wait to checkout.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
Bank Innovation
JANUARY 23, 2018
EXCLUSIVE—Facial recognition and other forms of biometric authentication may not have their golden moment in 2018, as the recent iPhone news suggests, but that doesn’t mean identity is less of a problem for business, merchants, and payment providers. “You need to encrypt the data when it comes to you, you need to provide tokenization when […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
JANUARY 23, 2018
Singapore-based bank DBS has partnered with technology provider Xero to build an online payment solution for small and medium-sized enterprises, the companies announced today. The DBS-Xero solution will allow SMEs on the platform to simplify their bill payments, focusing on eliminating problems such as cash-flow—an area of struggle for one out of every three SMEs […].
PYMNTS
JANUARY 23, 2018
The Bank of America has reportedly done away with a free checking account that was popular among low-balance customers, forcing them to save more money with the national bank or face a monthly fee. According to a report in The Wall Street Journal , all of the customers that still had eBanking accounts were moved to bank accounts that charge a $12 fee each month if they don’t have at least $250 directly deposited into the account or if they don’t maintain a daily balance of at least $1,500.
Bank Innovation
JANUARY 23, 2018
EXCLUSIVE – Bank of America Merrill Lynch has added a new feature to its Virtual Payables product, an offering which allows its commercial clients to automate post-invoice payments. The new feature (or Enhanced Virtual Payables Solution) was announced yesterday, although the feature had been available to clients since Q4’17, according to Louise Hennessy, senior vice […].
PYMNTS
JANUARY 23, 2018
Food order-ahead mobile apps are exceedingly good at calculating the best route for drivers, but they don’t always keep consumers informed about the status of their orders in real time, according to Lee Leet, chief executive of QSR Automations, Inc. Customers want to be kept aware of potential delays to their orders and “when their food [is] going to be ready so they’re not sitting outside … with the car running, waiting to pick up an order because it’s running a little late,” Leet told PYMNTS.
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Dive into the complexities of New York lien laws with our comprehensive eBook, 'New York Lien Law Essentials: 5 Key Facts for Commercial Lenders.' In this detailed guide, we explore the critical formalities necessary for lenders navigating ground-up construction and fix-and-flip projects in the New York market. From documentation requirements to the implications of non-compliance, learn how to safeguard your lending position and prioritize legal adherence.
Bank Innovation
JANUARY 23, 2018
EXCLUSIVE – The two fundamental keys to most challenges retail banks and payment companies face on the innovation front are personalization and efficiency, according to Alberto Corvo, a founding partner at fintech focused investment firm Motive Partners. To help banks find these solutions, Corvo’s Motive Partners, along with Allied Irish Bank, Bradesco, Emirates NBD, Royal […].
PYMNTS
JANUARY 23, 2018
It appears consumers worldwide are migrating to voice, according to the latest edition of the Capgemini Consulting Digital Transformation Institute Conversational Commerce survey. Based on the results of conversations with 5,000 consumers in the U.S., France and Germany, the survey found 40 percent of consumers plan to use voice assistants as a substitute for apps or mobile sites within the next three years.
Payments Source
JANUARY 23, 2018
If your billing and payments system has API integrations it makes it easy for your most valuable business asset, your customers, to do business with you, writes Martha Salina, senior vice president at Multi Service Technology Solutions.
PYMNTS
JANUARY 23, 2018
It’s a tale as old as technological innovation: Humans fear that robots will one day overtake their jobs. While it’s true automation, robotics and other cutting-edge solutions may take away the need for human intervention, the implementation of these solutions usually just redirects a human’s job, and doesn’t replace it outright. In the workplace, robotics and machine learning is already disrupting everything from accounts payable to customer support, but new research from Pegasystems in its “ T
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
BankNXT
JANUARY 23, 2018
Are you really agile, or are you playing at agile while diluting people's creativity, innovation and expertise for the sake of legacy KPIs and fluffy targets? Story by Leda Glyptis. The existential crisis of ‘agile’ in banking on BankNXT.
PYMNTS
JANUARY 23, 2018
Visa has begun testing its new cross-border B2B payments solution B2B Connect, according to various reports on Monday (Jan. 22). Inquirer Business reports said UnionBank in the Philippines has successfully piloted the solution before its commercial launch in the third quarter of the year. “Visa B2B Connect takes on an innovative approach and eliminates friction for cross-border transactions by using distributed ledger technology to enhance the speed, security and reliability of these transaction
Payments Source
JANUARY 23, 2018
Bitcoin has lost touch with its original mission of being an alternative decentralized currency, and Stripe has decided that it is no longer worth supporting for payments.
PYMNTS
JANUARY 23, 2018
In an effort to drive sales, a luxury department store chain is connecting customers with their sales associates through personal social media accounts, The New York Post reported. At the National Retail Federation (NRF) show last week, Neiman Marcus Chief Executive Karen Katz said that her 4,500 associates are generating sales for the company via their personal Instagram and Snapchat accounts.
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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
Payments Source
JANUARY 23, 2018
The information you need to start your day, from PaymentsSource and around the Web. Today: Researcher finds a potential vulnerability at Uber; Visa bolsters executive ranks; Grab adds tech for bike sharing; The impact of PSD2.
PYMNTS
JANUARY 23, 2018
An experimental run of a robot designed to assist shoppers in a European supermarket was cut short after it frustrated customers, according to Monday (Jan. 22) reports by U.K. news source Mirror Online. The robot, named “Fabio,” was put to work in the Edinburgh store of Scottish supermarket chain Margiotta as part of a BBC program to see if it could serve human shoppers.
Payments Source
JANUARY 23, 2018
Much like small businesses, small banks can't take on huge IT projects and rely more on targeted deployments to build a user base for future technology.
PYMNTS
JANUARY 23, 2018
The dominant name in cryptos slipped through an important psychological threshold, making the break below $10,000 for the second within a week’s span. As CNBC.com reports , trading Tuesday, as measured by CoinDesk’s price index (tied to a number of exchanges ranging from Coinbase to Bitfinex, among others), showed bitcoin at $9,972.29, off more than seven percent in intraday trading.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Payments Source
JANUARY 23, 2018
Mastercard plans to deploy its biometric authentication option for European consumers to use through their smartphones when shopping online or conducting mobile banking.
PYMNTS
JANUARY 23, 2018
If there was a modern kitchen product in the 1920s, there was a good chance that William Grover Barnard sold it. A health food pitchman pioneer, he traveled around the country to sell all sorts of kitchen wares. And, when he came across the blender in 1937, he thought he had a winner on his hands. Barnard named his blender the “Vita-mix.” After his son suggested television as an advertising medium, he took his live demonstrations of the product to the airwaves in 1949 and arguably created the fi
Payments Source
JANUARY 23, 2018
Alipay and WeChat have become so common in China that many tourists are finding it difficult to pay for goods and services without the apps, writes Mike Ward, CRO and CEO of North America for WorldFirst.
PYMNTS
JANUARY 23, 2018
Payroll company ADP is expanding through the acquisition of WorkMarket, the company said Monday (Jan. 22). In a press release, ADP announced its takeover of WorkMarket, a company that helps employers manage a range of workers including full-time, part-time and freelance. ADP noted that the acquisition positions the company to help its corporate clients address the rise of contingent and freelance workers.
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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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