Chris Skinner
MAY 21, 2018
Back in the 1980s, Walter Wriston, the then Chief Executive and Chairman of Citibank, said that “information about money is becoming more important than money itself”. His successor, John Reed, said that “banking is just becoming bits and bytes”. A quarter century later, this vision of the future of finance … The post Do bank leaders really need to be digital?
Bank Innovation
MAY 21, 2018
Even more than winning on mobile, banks would like to minimize security threats. Banks lost $16.8 billion to fraudsters last year, according to a Javelin report, and the number of U.S. customers victimized by such attacks increased to 16.7 million, up from 15.4 million in 2016. Protecting customers is paramount for executives. A global study […].
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Chris Skinner
MAY 21, 2018
I was asked at a conference the other day: “so what do you think about a banks’ Innovation Department?” The question threw me a little, so I asked what they meant. “Well, do you think banks should have an Innovation Division?” I replied that divisions divide, and that innovation should … The post It ain’t what you do appeared first on Chris Skinner's blog.
Bank Innovation
MAY 21, 2018
The brokerage world has multiple subscription-based startups taking on the establishment, and they may outshine traditional brokerages in profitability. A report by Corporate Insight examined three well-known investment startups, — Acorns, Stash and Robinhood – that are shaping their services and investment options to the bank-wary segment they serve.
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
Chris Skinner
MAY 21, 2018
Things we’re reading today include … Japan’s Biggest Bank to Switch on Blockchain Payments in 2020 Could smartphones replace bank branches? Ant Financial valued at $150bn in offering City watchdog bans finance boss of firm owned by couple dubbed ‘vampires of debt’ Qatar charges against Barclays dismissed Barclays may have … The post Things worth reading: 22nd May 2018 appeared first on Chris Skinner's blog.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
MAY 21, 2018
Recent moves from PayPal and Target have brought fresh attention to the use of augmented reality (AR) to boost commerce and payments. The technology remains in its infant stage — with seemingly as many ideas and demonstrations as real-world applications — but the paths to an augmented reality future are becoming clearer. The revival this spring of PayPal’s patent for payment-enabled augmented reality glasses has some analysts wondering how close the technology is moving toward the mainstream.
Payments Source
MAY 21, 2018
E-commerce payment fraud losses are mounting, giving merchants the opportunity to dump responsibility on their technology partners, but there's no surefire way to totally offload the financial hit.
PYMNTS
MAY 21, 2018
Small business invoice financing platform Fundbox is targeting the events industry through a new partnership with Eventbrite. A press release late last week said Fundbox is integrating its solution into the Eventbrite platform to link event creators with access to credit. According to U.S. Bureau of Labor statistics cited in Fundbox’s announcement, the event industry is slated to grow 44 percent between 2010 and 2020.
Bobsguide
MAY 21, 2018
There are 1583 cryptocurrencies listed on coinmarketcap.com. That is more than all the different types of fiat currencies in the world. The question many people ask is, why are there so many of them? Just nine years ago, there was only Bitcoin. Now we have a cryptocurrency in virtually every sector.
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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.
PYMNTS
MAY 21, 2018
Are the days of the real estate agent numbered? Probably not — no matter what, someone has to put out cookies and snacks for potential home buyers — but artificial intelligence is taking more command in the industry. The latest evidence comes from SetSchedule , a real estate data analytics and marketing firm. It recently announced its launch of a service called SetValue, which the company describes as a “tool that is the first of its kind to combine data analytics and artificial intelligence and
PYMNTS
MAY 21, 2018
Adobe has entered into a definitive agreement to acquire Magento Commerce for $1.68 billion, subject to adjustments. The addition of the Magento Commerce Cloud will enable commerce to seamlessly integrate into the Adobe Experience Cloud, and delivers one platform that serves both B2B and B2C customers around the world, Adobe said in an announcement.
Payments Source
MAY 21, 2018
With the use of global standards, merchants can also strengthen and consolidate their relationships with vendors and minimize expenditure on hardware and software solutions and maintenance, writes Normand Provost, liason chair of Nexo.
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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.
PYMNTS
MAY 21, 2018
A smart entrepreneur dropped out of college, identified an unmet market need and created an entirely new market segment. He did it by establishing a platform that matched an underutilized source of supply with a growing demand for services. One of his platform’s competitive advantages was the centralized payments platform he created to remove the friction involved in paying suppliers.
Bobsguide
MAY 21, 2018
If your company has traditionally depended on AXS-One email archiving software to help meet your business needs, you’re not alone. Many organizations used the AXS-One archiving solution for everything from managing the size of their Exchange mailbox to providing support for eDiscovery and.
PYMNTS
MAY 21, 2018
As Boston tries to lure Amazon’s second headquarters to the eastern part of the city it is facing concerns that it would result in displacements of lower-income residents and increasing costs in the city. According to a report in the Wall Street Journal , the rents in the eastern part of Boston known as Eastie are already rising resulting in displacements.
Payments Source
MAY 21, 2018
Development is happening in places besides London and Silicon Valley, and that will give payment companies and financial institutions a wider range of technology solutions and partners, according to Aidan Hayes, senior vice president of financial services and technology for Enterprise Ireland.
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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
PYMNTS
MAY 21, 2018
Against the backdrop of social media controversy — remember Facebook , of course, and 87 million users’ data exposed to Cambridge Analytica — oversight is tightening in Europe. The regulatory gaze become more fully trained on social media as in Germany, intelligence official Hans Georg Maassen said last week that regulation may be needed for social media companies if the European Union finds that more transparency is needed.
Payments Source
MAY 21, 2018
Businesses are already entering partnerships with some of the biggest players in the Chinese payments market, such as AliPay, and WeChat Pay, with the goal of offering tourists the ease of payments that they are accustomed to, writes Igal Rotem, CEO of Credorax.
PYMNTS
MAY 21, 2018
As the threat of cyberattacks increases, businesses are facing a particularly high hurdle in safeguarding their supply chains. New research from the NTT Security 2018 Global Threat Intelligence Report, released last week by Dimension Data , found a sharp increase in ransomware attacks aimed at supply chains last year. The business and professional services industry was particularly affected by this increase, researchers noted, hit by 10 percent of global ransomware attacks.
Insights on Business
MAY 21, 2018
Last week, I had the pleasure of hosting a panel at the SIFMA Ops conference in Phoenix. Joined by leaders from UBS, Morgan Stanley, DTCC and Price Waterhouse Cooper, we explored where the industry was with adopting AI technologies. In what offered inside views of how leading financial institutions are prioritizing and planning AI adoption projects, the panel highlighted three trends that I’ve seen throughout the industry in my own experience: AI technology is coming at us quickly.
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.
PYMNTS
MAY 21, 2018
Small businesses are in a tight spot when it comes to technology. Most understand the value and opportunity of innovative tools, yet feel they lack the resources to invest in them. It’s holding entrepreneurs back, too, with a lack of technology adoption being linked to lack of growth, cybersecurity risk and a broader impact on their national economies.
Payments Source
MAY 21, 2018
Most of Generation Z desires more robust and holistic payments management experience, making it a requirement that the financial services industry create new solutions with these preferences in mind. Technology partners and open development can help meet these needs, writes Zavida Mangaru, executive vice president of product strategy and innovation at North American Bancard.
PYMNTS
MAY 21, 2018
The tech giants are racing to see who can make their artificial intelligence (AI) the least artificial and the most human-like. Now, Microsoft has become the latest to make a move, announcing Monday (May 21) that it has acquired Berkeley, California-based AI startup Semantic Machines. Semantic Machines leverages machine learning to add context to chatbot conversations, making the AI smarter each time it talks to a user, as past knowledge can be applied to future conversations.
Payments Source
MAY 21, 2018
Traditional credit scoring is under siege from alternative underwriting, and TransUnion is joining the future by investing in other emerging trends such as mobile device security and health care payments.
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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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