Chris Skinner

JANUARY 29, 2020

I recently posted a whine about HSBC charging 40 percent on overdrafts: Treating Customers Unfairly The fact I wrote this about HSBC gave the impression it was they who were the target. They are, but so are any banks who treat customers unfairly and the blog was meant to be … The post Free banking? No, it’s 39.9 percent banking! appeared first on Chris Skinner's blog.

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Regulation 521

Bank Innovation

JANUARY 29, 2020

With nearly 200 startups, five major banks, 19 venture capital firms and representation from large tech companies like Google, Facebook, PayPal, Toronto is quickly becoming a center for fintech entrepreneurship. To meet the demands of this growing industry, the University of Toronto’s School of Continuing Studies is partnering with education services company Trilogy to launch […].

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Meeting Fintech Study Google 364

Chris Skinner

JANUARY 29, 2020

Things we’re reading today include … Profits plunge piles pressure on Santander chief Lloyds group to close 56 more branches across UK this year How digital financial services can prey upon the poor Banks adopt AI to manage sanctions and compliance risk Goldman Sachs: break it up Wonga borrowers ‘to … The post Things worth reading: 30th January 2020 appeared first on Chris Skinner's blog.

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Compliance Groups Management 241

Bank Innovation

JANUARY 29, 2020

Mastercard Inc.’s new initiative to team up with more startups on credit cards is starting to pay off. The company has been starting card programs for fintechs including Brex Inc., Revolut Technologies Inc. and TransferWise Inc., and has unveiled programs designed to make it easier for startups to join Mastercard’s network. That helped boost customers’ […].

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Cards Fintech Technology Company 284

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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

PYMNTS

JANUARY 29, 2020

Airbnb has hired Catherine Powell, a 15-year Disney veteran, to head up its Experiences division, the firm announced this week. She was hired ahead of the company’s expected initial public offering (IPO) coming up soon this year. The Experiences division handles things like tours and other activities, such as cooking classes for guests. The Experiences division was launched in 2016 as a way to expand into new services encompassing more of the travel industry.

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Regulation Industry How To Company 193

PYMNTS

JANUARY 29, 2020

After years of talk and theorizing, the Internet of Things — and that seems to be the label that will stick, at least for now — is finally coming together in concrete, measurable ways that are making impacts on the daily lives of consumers. Even so, there are still questions about how specific use cases being built via the Internet of Things ecosystem — or, perhaps more accurately, ecosystems — will actually evolve, and what challenges they will have to overcome.

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Innovation System Mobile New York 154

CFPB Monitor

JANUARY 29, 2020

One of the most important areas of consumer financial regulation today is the use of internet- or social media-based platforms to target advertising for consumer financial products. Its importance stems from the fact that financial services companies can obtain significant benefits from directing advertising to those consumers most likely to be interested in a product, and to be able to qualify for it.

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Lending social media Compliance Regulation 130

PYMNTS

JANUARY 29, 2020

Having an accounting background is no longer a must for a company’s chief financial officer (CFO), according to a report by The Wall Street Journal. For example, when directors of Hannon Armstrong Sustainable Infrastructure Capital were looking for someone to fill the role, they were more worried about hiring someone who had experience with raising debt and equity, and they didn’t care if the person was a former accountant.

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Strategy Capital Examples US 144

Bobsguide

JANUARY 29, 2020

An industry-led artificial intelligence (AI) standard may be forthcoming according to Bill Wardwell, vice president of strategy and product at Bottomline Technologies. “I think looking at AI and machine learning at this point from a technology provider standpoint, what you’re.

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Marketing Strategy Industry Technology 108

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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

Report

PYMNTS

JANUARY 29, 2020

Beyonce’s Ivy Park clothing line for Adidas is sold out, but fashionistas can get the look by turning to Popeyes and its uniforms, now being sold as a 10-piece limited edition collection, the New York Daily News reported. When Beyonce’s line dropped and immediately sold out, the Twitterverse immediately took notice that her clothing design had a striking resemblance to Popeyes’ uniforms.

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Washington New York Branding Report 143

Payments Source

JANUARY 29, 2020

It seems the payments industry is once again pushing liability to the merchants with no plans to hold anyone else along the payments ecosystem accountable for ensuring that viable solutions are available, says the Merchant Advisory Group's John Drechny.

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Groups Industry Payments Fraud 103

PYMNTS

JANUARY 29, 2020

Canadian supermarket company Organic Garage has entered into a partnership with Uber affiliate Cornershop to boost online grocery deliveries, according to a Wednesday (Jan. 29) press release. The app service went live Thursday. Organic Garage was the second official partner for groceries with Cornershop, which was bought by Uber in a majority acquisition in October 2019.

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Comparison Trends Retail Online 142

Bobsguide

JANUARY 29, 2020

Competition concerns are being raised over Visa and Mastercards’ acquisitions and investments as the two major card schemes become increasingly involved in fintech development.

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Cards Fintech 92

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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.

Lending

PYMNTS

JANUARY 29, 2020

Facebook reported a 51 percent spike in its costs and expenses for the full year 2019 — that increase coming as the social media platform faces more questions from regulators and policymakers about its present and planned endeavors. Facebook released its fourth quarter earnings and full year 2019 financials late Wednesday afternoon (Jan. 29), and reported that total costs and expenses hit some $46.71 billion during the recently completed year.

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social media cryptocurrency Examples Report 142

Payments Source

JANUARY 29, 2020

Payment industry players are expected to present testimony on Capitol Hill before a House financial technology task force on Thursday that’s weighing a bill to prohibit stores from refusing to accept cash.

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Retail Financial Technology Industry Technology 82

PYMNTS

JANUARY 29, 2020

Spring may seem far away, but U.S. businesses are likely already feeling tax season’s pressures. Filing is exhausting and complicated for individuals, and businesses experience those tax difficulties to a far greater degree. Companies need all relevant information on hand when filing, which can be difficult if manual expense tools are being used to track cash flows and employee spend.

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Taxes Fraud Tools System 141

Payments Source

JANUARY 29, 2020

While touting iPhone 11 as a big hit with consumers because of its various features and high-quality camera, Apple CEO Tim Cook also pointed to Apple Card as a reason the company's newest smartphone sold so well during the holidays.

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Apple Cards Payments Company 87

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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.

US

PYMNTS

JANUARY 29, 2020

Commercial cards continue to explore more use cases to optimize spend for businesses, from accounts payable (AP) to employee travel and expense management. Increasingly, the corporate card industry is also looking at ways to take advantage of the unique challenges in particular industries. This week’s look at the latest in commercial card innovation explores some of those use cases, including small business (SMB) travel and event planning.

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Cards Industry Management Tools 141

Banking Exchange

JANUARY 29, 2020

The SEC and other regulators levied fines on banks and other firms related to anti-money laundering breaches and non-compliance with sanctions Compliance Compliance Management Feature3 Feature AML & Fraud BSA/AML.

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Regulation US Compliance Fraud 78

PYMNTS

JANUARY 29, 2020

As Mondel?z International, Inc. invested in its further growth in non-grocery channels such as eCommerce, discounters and convenience, the confectionary company experienced its first full year under its new consumer-centric growth strategy in 2019. It has also been working on expanding its distribution in fast-growing, developing markets like India, China and Russia.

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Strategy Branding Marketing Maine 141

Banking Exchange

JANUARY 29, 2020

“We aspire to be the leading digital consumer bank." Bank Performance Retail Banking Lines of Business Technology Payments Financial Trends Customers Branch Technology/ATMs Feature Feature3.

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ATM Trends Retail Technology 78

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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.

Compliance

PYMNTS

JANUARY 29, 2020

Ever imagine that people would be ordering airline food, for pickup or delivery, to enjoy at home? Sounds like late-night comedy, but it’s actually one of the more fascinating projects underway in the mobile order-ahead sector. That plan involves Malaysian carrier AirAsia opening a restaurant to serve its famously tasty in-flight meals. AirAsia intends to open up to 100 locations in the near future, and is developing its own mobile order-ahead app.

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Mobile Fraud Maine Google 141

Banking Exchange

JANUARY 29, 2020

The combined entity will cover Florida, Georgia, Alabama, the Carolinas, and Virginia when it completes in Q3 2020 Community Banking M&A Management Feature Feature3.

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Alabama Georgia Virginia Florida 78

PYMNTS

JANUARY 29, 2020

Amid the targets for return on equity in the investment banking business, Goldman ’s first Investor Day in the wake of a revamped operating structure placed special emphasis on the digital realm. Specifically, digital banking services, delivered to a broader consumer base through mobile means. In a presentation as part of Goldman’s Investor Day , Eric Lane, global co-head of the Consumer and Investment Management Division, said the company will debut a digital wealth management offering later in

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Digital Banking Strategy Management Apple 136

Payments Source

JANUARY 29, 2020

Progress in the trade war is welcome news for Mastercard’s ambitions in China, though the coronavirus jeopardizes the rosy outlook.

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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.

Lending