Chris Skinner
MARCH 1, 2020
Buzzwords. We have a lot of them. Artificial, autonomous, augmented. Big data, blockchain, bilateral. Crypto, currency, consensus. Distributed, decentralised, democratised. I’m tempted to write the ABC of technology buzzwords, but know there cannot be any that start with X or Z*. However, I’m writing this one today because the word … The post What does ‘digital transformation’ really mean?
PYMNTS
MARCH 1, 2020
The U.S. House of Representatives Committee on Small Businesses is going to hold a hearing on the benefits of blockchain technology for entrepreneurs. The hearing is set for Wednesday, March 4 at 11:30 a.m. ET, and will be called “Building Blocks of Change: The Benefits of Blockchain Technology for Small Businesses.”. The hearing will explore the ways small business entrepreneurs have used blockchain to boost productivity and increase security.
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Chris Skinner
MARCH 1, 2020
Things we’re reading today include … Nationwide leads race for £1.9bn Sainsbury’s Bank deal Lloyds Bank faces fresh police inquiry over fraud claims Bank of England passed ‘misuse’ firm for due diligence three times ‘Swindled with bitcoin’: Australian victims count cost of online finance scam The rise and dramatic fall … The post Things worth reading: 2nd March 2020 appeared first on Chris Skinner's blog.
PYMNTS
MARCH 1, 2020
The Financial Reporting Council (FRC), the U.K.’s audit regulator, announced plans this week to break up the dominance of the largest four accounting firms, Deloitte, EY, KPMG and PwC , according to the Financial Times. The regulator issued letters to those firms, known as the Big Four, Thursday. The plans, if put forth, would constitute a huge shake-up for the accounting industry in the U.K., and would essentially ask for the firms’ audit and consulting operations to be separated.
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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
MARCH 1, 2020
For real-time payments, there are national schemes to help drive adoption and enhance consumer convenience, according to Standard Chartered's Tarek Elyafi and Shantanu Vijaykumar Bhosale.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
MARCH 1, 2020
Consumer response to banking by smart speaker has been underwhelming. But a handful of financial institutions keep plugging away in hopes customers warm to the advantages of verbal commands instead of pushing buttons.
PYMNTS
MARCH 1, 2020
The number of companies and events impacted by the coronavirus’ mass spread now includes the annual Game Developers Conference. The event, originally scheduled for March 16 to March 20 in San Francisco, was canceled after many of the biggest companies expected to attend dropped out, citing concerns about the spread of the virus. The event is an important one for those involved with engineering and art projects with games.
BankBazaar
MARCH 1, 2020
A marriage brings with it a whole lot of responsibilities. But are you aware of what rights you enjoy? Read about them here. Marriage brings with it a whole lot of responsibilities – some that you’ve been prepped for your whole life and some that appear out of the blue. However, most women in their pursuit of fulfilling their marital responsibilities often ignore their financial rights and responsibilities.
PYMNTS
MARCH 1, 2020
Health tech startup Accolade , with headquarters in Seattle and Philadelphia, filed with the Security and Exchange Commission (SEC) to raise $100 million for an initial public offering (IPO) on Friday (Feb. 28), according to reports. . Accolade capitalizes on machine learning, artificial intelligence (AI) and mobile apps to enable members to easily traverse their health care benefits.
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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
American Banker
MARCH 1, 2020
Consumer response to banking by smart speaker has been underwhelming. But a handful of financial institutions keep plugging away in hopes customers warm to the advantages of verbal commands instead of pushing buttons.
PYMNTS
MARCH 1, 2020
A petition by Uber , Lyft and DoorDash to roll back a California law regarding gig economy workers has reached 1 million signatures and will head to voters at the ballot box this November, according to CNET. The initiative is a response to California’s AB5 , which restricts the types of workers that these companies could call independent contractors, changing the rules on who has to be classified as an employee instead.
Jeff For Banks
MARCH 1, 2020
Reporters occasionally call for my opinion. And I have them. Oh I have them. Last week an American Banker reporter called for my opinion on WSFS Bank's strategy to deploy much of the cost savings from its recent Beneficial Bank merger into technology. Read the resulting article here. The reporter e-mailed his questions. And I responded back. The article carried two quotes from me.
PYMNTS
MARCH 1, 2020
The facial recognition app Clearview AI was banned from Apple ’s developer program after allegedly violating the iPhone maker’s rules, Buzzfeed News reported on Friday (Feb. 28). Analysis by BuzzFeed News of Clearview AI’s app for Apple’s mobile operating system discovered that Clearview broke rules about the distribution of its apps. The startup reportedly took advantage of its developer account so it could distribute its software to law enforcement customers and others. .
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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.
American Banker
MARCH 1, 2020
An effort by the Federal Housing Finance Agency to examine membership rules for the Federal Home Loan Bank System is reigniting an argument over whether to allow more nonbanks in or impose tougher barriers.
PYMNTS
MARCH 1, 2020
Small- to medium-sized businesses (SMBs) were duped by salespeople from American Express (AmEx) who reportedly misrepresented card rewards and fees in an effort to close more approvals, according to a report from The Wall Street Journal (WSJ) Sunday (March 1). Some AmEx salespeople allegedly “strong-armed” SMB owners to apply for cards, said 12-plus current and former AmEx employees.
The Financial Brand
MARCH 1, 2020
Core system replacement is not required for banks and credit unions to compete at 'fintech speed,' but modern tech approaches must be used. The post New Tech Platforms Hold the Key to Retail Banking’s Future appeared first on The Financial Brand.
PYMNTS
MARCH 1, 2020
Activist fund and hedge fund company Elliott Management Corp. is pressing for changes after acquiring a stake in Twitter , including replacing CEO and Co-Founder Jack Dorsey , Reuters reported Friday (Feb. 28), citing sources familiar with the matter. Although a co-founder, Dorsey only owns roughly 2 percent of Twitter. Twitter gives shareholders equal voting rights, which could make Dorsey “vulnerable to a challenge” from Elliott, the reported stated.
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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.
The Financial Brand
MARCH 1, 2020
Content marketing builds emotional connections with consumers and is the key to having a successful marketing campaign for your bank or credit union. The post Why Content Marketing Is Important To Financial Institutions appeared first on The Financial Brand.
PYMNTS
MARCH 1, 2020
Despite struggling sales for the Wear OS smartwatches, Google said this week that it intends to fix users’ issues and move forward. The problems are due in some measure to Wear OS’ middling health features , which were the focus of a user survey conducted to find out what people would fix about the watches. Google’s survey focused on the ways the company could possibly accentuate and improve Wear OS’ health features, many of which have been used on competitors’ similar watches and trackers.
The Financial Brand
MARCH 1, 2020
Consumers' attention shrinks as content grows. Banks and credit unions can improve results by simplifying their pitches by personalizing them. The post Using Data to Simplify Financial Marketing Messages Delivers appeared first on The Financial Brand.
PYMNTS
MARCH 1, 2020
Managed by Q co-founder Dan Teran was in talks to buy his company back from WeWork — which the office-sharing firm acquired in April 2019 — but those talks have apparently fallen apart, Bloomberg reported on Friday (Feb. 28), citing sources familiar with the matter. . Teran and investors had been looking to purchase Managed by Q — which offers business management technology — for less than $55 million.
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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
MARCH 1, 2020
Neobank Niyo has partnered with the National Payments Corp. of India (NPCI) to advance financial inclusion and introduce financial services to more than five million blue-collar workers in India by 2022, Crowdfund Insider reported. Niyo’s employee payroll solution, Niyo Bharat , gives blue-collar workers a salary account. The payroll software makes it easier for companies to manage workers’ salary information.
PYMNTS
MARCH 1, 2020
Docusign , which holds weight in the electronic signature field, has struck a deal to acquire Seal Software for $188 million in cash, according to GeekWire. Seal Software, founded in 2010, advertises itself as a leader in enterprise contract analytics. The company works with others, such as Nokia, Dell and PayPal , on managing contracts. It is in competition with Seattle-area startup Icertis.
PYMNTS
MARCH 1, 2020
A coalition of some of the largest labor unions — including the International Brotherhood of Teamsters — has officially petitioned the Federal Trade Commission (FTC) to investigate Amazon for anti-competitive practices, according to The New York Times. The 28-page petition, filed Thursday (Feb. 27), asks the FTC to study Amazon’s impact on the economy.
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