Bank Innovation
NOVEMBER 2, 2017
EXCLUSIVE– Fintech startup CreditStacks will be launching a new credit card in about two weeks that will cater to high-earning immigrants in the U.S, CEO Elnor Rozenrot said during a Plug and Play event yesterday in NYC. The product aims to provide a credit card to “premium, new-to-credit customers,” Rozenrot said. Rozenrot noted that the […].
Chris Skinner
NOVEMBER 2, 2017
I just listened to George W. Bush being interviewed by AT&T CEO and Chairman, Randall Stephenson, and it was an interesting experience. For example, I’ve heard Bill Clinton speaking and Mikhail Gorbachev (twice), but this event was clearly far more security conscious than those. I mean we’re at an event … The post The story of George W. Bush and the two big Black Swans appeared first on Chris Skinner's blog.
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Bank Innovation
NOVEMBER 2, 2017
EXCLUSIVE- In the spirit of credit cards aiming to woo users with rewards and benefits, PayPal is getting rid of foreign transaction fees on its Cashback Mastercard. Bank Innovation has learned that starting this week, PayPal Cashback Mastercard users will no longer be charged the original foreign transaction fee of 3% the transaction amount. In […].
Payments Dive
NOVEMBER 2, 2017
The bright lights of Las Vegas have gone out on Money20/20 for another year. As always, the event brought together the biggest names in payments and provided unprecedented insight into the future of financial services.
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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
Bank Innovation
NOVEMBER 2, 2017
The National Australia Bank today announced it is slashing its workforce by 12%, or 6,000 job losses, over the next three years. It will devote more resources to digital banking in future. NAB is following in the footsteps of Nordea Bank and Japan’s Mizuho Bank, both of which announced job cuts this week. Andrew Thorburn, […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
NOVEMBER 2, 2017
EXCLUSIVE–Are fintech lenders really more risky, more desperate for customers, and more appealing to millennials? Not precisely, TransUnion told Bank Innovation. As a credit reporting agency, TransUnion has a wealth of data on lenders, including fintechs, and put these rumors to the test with its newstudy, Fact or Fiction: Are Fintechs Different from Other Lenders?
PYMNTS
NOVEMBER 2, 2017
Singapore residents will soon be able to make purchases with a prepaid Visa card backed by the cryptocurrency platform Monaco. “Our team has worked incredibly hard over the past year to achieve this milestone. This is an important step towards Monaco’s vision to introduce cryptocurrency to the mass market,” said Kris Marszalek, co-founder and CEO of Monaco, in a press release. “We believe that the Monaco card program lays solid foundation for Monaco’s growth, and we
Bank Innovation
NOVEMBER 2, 2017
Visa is bringing its real-time payment platform, Visa Direct, to Europe. The platform is being launched in the region today, Visa said in a statement. The platform allows money transfers (whether a P2P, B2B, or B2C transfer) to take place within minutes. Visa has partnered with payments company WorldPay for the European launch of the […].
PYMNTS
NOVEMBER 2, 2017
In business banking news, the U.K.’s Financial Conduct Authority (FCA) plans to propose an extension of its jurisdiction from serving individuals and micro-businesses to also include small and medium-sized businesses (SMBs). The proposal comes in the wake of multiple small business banking scandals , reports in the Financial Times said Wednesday (Nov. 1).
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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
Payments Source
NOVEMBER 2, 2017
It may seem weird or even risky at first, but e-invoicing not only reduces tax fraud, but also makes life easier for small businesses, writes Diego Caicedo, CEO of Portal Finance.
PYMNTS
NOVEMBER 2, 2017
Small business (SMB) ownership is preparing for a shakeup in the coming years as more entrepreneurs plan to exit and sell their companies between now and 2022. New data released from Chase in its Business Leaders Outlook report, published Wednesday (Nov. 1), highlighted the upcoming changing-of-hands of small businesses in the U.S., with 29 percent of small businesses saying they plan to transition ownership of their companies sometime in the next five years — up from 20 percent only a year ago.
Let's Talk Payments
NOVEMBER 2, 2017
As of July 2017, WhatsApp counted 1.3 billion active monthly users. To put things into perspective, imagine that the whole population of India or China is active on WhatsApp every.
PYMNTS
NOVEMBER 2, 2017
Only you can prevent forest fires. And, as the KRACK WiFi vulnerability perhaps demonstrated, only you can prevent hackers from worming their way into your networks and devices, as even established security measures that are presumed to be stable may not be as secure as we think. As much as consumers, organizations and retailers rely on wireless networks to be secure – indeed, even take it for granted – the fact is that vulnerabilities do exist.
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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.
Matt Wilcox Pro
NOVEMBER 2, 2017
MOST PEOPLE COULDN’T tell you what DNA stands for (hint: deoxyribonucleic acid), much less pronounce it (dē-ˈäk … on second thought, never mind). But since its discovery in 1953, DNA has become a household initialism. It’s no wonder, then, that the 1962 Nobel Prize in Physiology or Medicine went to Francis Harry Compton Crick, James [.
PYMNTS
NOVEMBER 2, 2017
New York City commuters – arguably the most on-the-go demographic in the United States – do not want to wait for anything. Which means the inefficient, rush-hour obstacle course that stands between commuters getting their tickets and catching their trains needs to have far fewer obstacles. Mastercard’s VP of urban mobility, Will Judge, believes that particular piece of inefficiency should be eliminated from mass transit.
Let's Talk Payments
NOVEMBER 2, 2017
The term ‘robo-advisor’ refers to online investment services that deliver algorithmically derived financial advice.
PYMNTS
NOVEMBER 2, 2017
To provide continued solutions in consumers’ quest for faster holiday shipping solutions, the U.S. Postal Service (USPS) has announced it will offer affordable, next-day shipping services and Sunday package delivery this year. The program was announced on Wednesday (Nov. 1) in advance of the holiday shopping rush. According to Seattle Times news reports, the holiday shipping program — effectively an expansion on the services USPS offers almost exclusively for online retailer Amazon — will be ava
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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.
Let's Talk Payments
NOVEMBER 2, 2017
Daniela Perdomo, Co-founder & CEO of goTenna (a company that builds next-generation wireless architecture that enables low-power, low-cost, easily reconfigurable, resilient communication from the bottom-up), questions the concept of connectivity, envisioning.
PYMNTS
NOVEMBER 2, 2017
Freelance work isn’t free — no matter what some clients may wish. When multiple bills come in or cash falls short, clients can be quick to put freelancers’ bills on the bottom of the pile — a major problem for those who earn a living off the gig economy. Many gig workers finish their projects only to spend months chasing clients for their agreed-upon compensation, according to the Associated Press.
Bobsguide
NOVEMBER 2, 2017
Banks are looking for new revenue streams. Providing excellent service to SME customers is an opportunity often overlooked by banks. There are an estimated 4.5 million SMEs in the UK – accounting for 99.9% of private sector business. Can you afford to ignore this market? Business.
PYMNTS
NOVEMBER 2, 2017
Amazon announced news on Wednesday (Nov. 1) that it launched AR View, an augmented reality (AR) shopping feature in the Amazon app, according to TechCrunch. The feature allows customers to use iOS mobile device cameras to preview how retail products would look in their homes or offices. The AR View feature represents a digital enhancement similar to Apple’s shoppable AR stickers, a cartoon-like version of the virtual reality present.
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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.
Payments Source
NOVEMBER 2, 2017
Neural network systems — which try to emulate the human brain — will become increasingly important as the stolen identities from the recent Equifax breach and others start surfacing in the coming years on fraudulent payment card or loan applications.
PYMNTS
NOVEMBER 2, 2017
Zelle , the peer-to-peer (P2P) payments platform deployed by more than a dozen financial institutions to take on competing offerings like Venmo and Square Cash, is stepping into the world of corporate payments through a new offering by U.S. Bank. The bank announced news on Wednesday (Nov. 1) that it is rolling out two new corporate payment solutions, one of which is Disbursements via Zelle, which enables corporate clients of the bank to use Zelle to disburse payments to individuals.
Payments Source
NOVEMBER 2, 2017
American Express will launch its next generation of online authentication system, SafeKey 2.0, early next year with support for biometrics technology and mobile commerce.
PYMNTS
NOVEMBER 2, 2017
U.S. small business (SMB) owners and freelancers are speaking out about their late B2B payments experiences in a new report by the Associated Press published Wednesday (Nov. 1). Reporters spoke with entrepreneurs to highlight the challenges they face in managing cash flow and staying in business, as more freelancers and small business owners must wait to see their invoices paid.
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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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