Payments Dive
SEPTEMBER 3, 2019
Digital banking is growing rapidly in the U.K., as challenger banks are gaining share among non-millennnial users and winning over customers with strong customer service. The report warns, however, that few of these upstart banks are actually turning a profit and the pace of growth cannot continue at the same pace forever.
South State Correspondent
SEPTEMBER 3, 2019
THE ECONOMICS OF FINANCIAL LITERACY Many banks put financial literacy education squarely in their Community Redevelopment Act (CRA) effort using the mindset that financial literacy is an affliction of low-to-moderate income households. The reality is, financial illiteracy affects us all. Some banks believe consumer financial literacy is not only good for consumer prosperity but also makes good business for banks.
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Payments Dive
SEPTEMBER 3, 2019
This report shares some of the current, most popular standards that companies are considering for new IoT and M2M deployments. You'll also see what the future holds with 5g connectivity.
Chris Skinner
SEPTEMBER 3, 2019
Talking of diversity of views and strange conversations, I was in discussion with an American bank the other day and they asked me if Europe would survive this crisis. I thought they meant Brexit, and started waffling on about whiff-whaff and Boris Johnston but no, they stopped me mid-sentence and … The post The diversity of financial markets appeared first on Chris Skinner's blog.
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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
SEPTEMBER 3, 2019
Volkswagen Bank, the financial services arm of the German automaker, is turning to QR code-like technology to fight threats posed by hackers. The bank, which focuses on vehicle and dealer financing, implemented the new technology with the help of OneSpan (formerly Vasco), a security and e-signature solutions company based in Chicago. The OneSpan solution is called […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
SEPTEMBER 3, 2019
U.K.-based startup SympliFi is launching a loan product for customers in developing countries in Africa backed by collateral from family members in the U.K. With SympliFi’s model, which launched in late August, U.K. residents with family in Zimbabwe can offer collateral with local Zimbabwean financial institutions, allowing the family back home to take out a […].
PYMNTS
SEPTEMBER 3, 2019
Today if one says the word eBay anywhere in the U.S. — and in multiple spots around the world — you will be hard-pressed to find someone who doesn’t instantly know as to what you are referring. They may never have made a purchase on the online marketplace, but the odds are good they know at least one good story about something bought it on eBay story.
Bank Innovation
SEPTEMBER 3, 2019
Grasshopper Bank, a New York City-based digital bank geared toward startups, is focusing on pain points for founders, who usually have a heightened awareness of user experiences. According to Jeremy Shure, who was appointed global head of Grasshopper’s early-stage practice last month, the banking industry hasn’t adequately met the needs of founders.
PYMNTS
SEPTEMBER 3, 2019
Seven European payments operators — most of them owned by banks — that own and operate mobile payments services said Tuesday (Sept. 3) that they are in the midst of building a pan-European network focused on cross-border mobile payments. As reported by Bloomberg Tuesday, the European Mobile Payment System Association initiative comes as banks and traditional financial services players continue to battle FinTechs and Big Tech for share of mind and share of wallet across the payments landscape.
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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 Dive
SEPTEMBER 3, 2019
The value of IoT is data that drives action. Maintaining a reliable, secure connection is critical to realizing this value.
PYMNTS
SEPTEMBER 3, 2019
U.K. challenger bank Starling Bank is gearing up to launch a web portal this month, as well as to introduce new loan offerings from third-party providers. The company submitted its biannual update to Banking Competition Remedies, according to AltFi reports Friday (Aug. 30), a requirement following the award of £100 million from the BCR fund earlier this year.
Ron Shevelin
SEPTEMBER 3, 2019
Becoming a full stack player in an industry can give a firm a strong competitive advantage. In banking, fintech startups aren't well-positioned to become full stack. Could Apple or Amazon pull it off?
PYMNTS
SEPTEMBER 3, 2019
Apple has been granted three separate patents related to the Apple Watch, which would allow for biometric identification, automatic tightening of the band and lighted indicators, according to a report. The biometric sensor would use infrared to take a “picture” of a person’s wrist and then use the identifying traits as an unlocking device. Currently, there is no way to unlock an Apple Watch without using a PIN or setting it to unlock when a person unlocks their phone.
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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.
Payments Source
SEPTEMBER 3, 2019
Young people prefer transfer apps, but privacy and authentication will need to be improved, says Sonarax's Benny Saban.
PYMNTS
SEPTEMBER 3, 2019
Summer is unofficially over and the kids are back in school. For some, that’s a mix of good and bad news (summer with children can be difficult, after all, no matter how well behaved they are), and for the fledgling ridesharing service Zum , it’s another season of business. Zum (pronounced like “zoon”) focuses on using private rideshares to get children to and from school and their extra circular activities.
Payments Source
SEPTEMBER 3, 2019
Consumer trust is hard to win, easy to lose, and eroding daily as attackers achieve success with fraudulent transactions, says NuData Security's Justin Fox.
PYMNTS
SEPTEMBER 3, 2019
Point-of-sale technology firm Square is teaming up with U.K. bank TSB Bank to offer a suite of financial services to joint small business customers. A press release Monday (Sept. 2) said TSB small business owners will be offered Square POS software and a free Square Reader to be able to begin accepting payments and launch their businesses. Together, TSB and Square will also provide those small businesses with analytics based on bank and POS data for performance tracking, while they will also be
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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.
Payments Source
SEPTEMBER 3, 2019
No crypto company wants to be in Facebook's shoes — but many of them want to fill those shoes once the social network's Libra cryptocurrency has is done being pummelled by global regulators.
PYMNTS
SEPTEMBER 3, 2019
Large investment and equity firm Carlyle Group has taken a majority stake in an artificial intelligence (AI) hiring firm called HireVue, according to a report by Bloomberg. The move comes as an increasing number of private equity firms are making moves and deals in the rapidly growing sector. HireVue’s existing investors include Sequoia Capital, Granite Ventures and TCV, all of whom will stay on as minority partners.
Payments Source
SEPTEMBER 3, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Apple Pay's still has a small share in the U.S.; Gender gap persists in the payments industry; VCs invest in bank-to-bank payments; TGI Fridays suffers a breach in Australia.
PYMNTS
SEPTEMBER 3, 2019
Consumers are flocking to eCommerce, and more than 230 million U.S. consumers are expected to be shopping online by 2021. Merchants are eagerly striving to be selected to fulfill consumers’ purchasing needs and to stand out from an increasingly crowded eCommerce field. There are already more than 2.5 million sellers active on Amazon , for example, and more joining every day.
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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
SEPTEMBER 3, 2019
Months after Denmark’s Nets A/S completed its merger with Germany-based Concardis, the combined operation is rolling out a broad new digital payment service tailored for small businesses in Germany.
PYMNTS
SEPTEMBER 3, 2019
As blockchain continues to make inroads into supply chain tracking, various companies in the food and produce industry have been leveraging distributed ledger technology (DLT) to source and monitor “farm-to-table” activity. Among recent examples, as reported in Forbes, Migros, Switzerland’s biggest supermarket chain, has put in place a blockchain food tracking initiative.
Payments Source
SEPTEMBER 3, 2019
Seven European mobile payment firms have formed a cross-border transaction association covering an addressable market covering 25 million users and 350 banks.
PYMNTS
SEPTEMBER 3, 2019
Cold breakfast cereal made its official entrance into the American diet in 1863 when it was invented by James Caleb Jackson, in the form of a product he called granula. But cereal’s heyday didn’t really begin until the second half of the 20th century, when it became a staple breakfast product for some 90 percent of the American population. Cereal was carried by three main strengths: it’s inexpensive, it’s easy to prepare and it’s sweet and bland, which means children tend to really, really like
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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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