Payments Dive
FEBRUARY 1, 2018
PSD2 in Europe has already begun paving the way for new generations of payment providers and direct carrier billing services, which are offering a more compelling customer-focused strategy, compared to the existing legacy providers.
Bank Innovation
FEBRUARY 1, 2018
The Alibaba Group will take a 33% equity stake in Ant Financial, it’s affiliate fintech company that operates popular mobile payments service Alipay, the group announced today. The stake comes from an agreement between Alibaba and Ant first signed in 2014, according to the companies, and will allow Alibaba to buy newly released shares in […].
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Chris Skinner
FEBRUARY 1, 2018
Things we’re reading today include … eBay drops PayPal as first choice for payments More Brits become millionaires CFTC orders Deutsche Bank unit to pay $70 million penalty Visa tops revenue estimates as payments grow Delays hit KodakCoin crypto-currency plans Payments group Adyen wins eBay contract as it lines up … The post Things worth reading: 2nd February 2018 appeared first on Chris Skinner's blog.
Bank Innovation
FEBRUARY 1, 2018
Credit reporting service Equifax launched a consumer mobile app yesterday, an app that would allow users to lock credit access via mobile — that is – if it would stop freezing and glitching in the middle of processing such requests. The app, called Lock & Alert, was made available free to consumers yesterday. Billed as […].
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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
FEBRUARY 1, 2018
The Plenti coalition loyalty rewards program has hit a bit of a rough patch, with several partners leaving the service and retailers opting out of accepting members’ earned points, Retail Dive reported Wednesday (Jan. 31). AT&T dropped out last fall, and Alamo, Direct Energy, Enterprise, Expedia, Hulu and Nationwide exited the partnership at the beginning of 2018.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
FEBRUARY 1, 2018
To reach more consumers and foster more eco-friendly operations, IKEA is testing out renting its furniture offerings in Japan, Curbed reported Wednesday (Jan. 31). The furniture rentals will be geared toward customers who might not be ready to purchase furniture, many items of which could cost hundreds of dollars. In addition, IKEA plans to make the initiative environmentally friendly by recycling furniture consumers might otherwise throw out.
Bank Innovation
FEBRUARY 1, 2018
EXCLUSIVE— It’s hard to argue with results, and with $75 billion sent with Zelle, the banks’ “Venmo killer” is certainly getting some. But is it enough to topple Venmo? If one is going purely by the numbers, possibly: while PayPal grew its total P2P payment volume by 50% this year, according to its earnings report […].
PYMNTS
FEBRUARY 1, 2018
Following comments from India’s minister of finance on cryptocurrency and potential price manipulation at a major cryptocurrency exchange, bitcoin dropped below $9,000 in trading on Thursday (Feb. 1) — a critical level. The cryptocurrency tumbled to $8,810 in late morning trading, CNBC reported. But, by 12:12 P.M., bitcoin rebounded slightly to $9,019.08 before sliding below $9,000 again, according to CoinDesk.
Bank Innovation
FEBRUARY 1, 2018
EXCLUSIVE- Payment app Venmo now has a transfer fee. But, thankfully, that fee is only for instant payments. In an update to its terms & conditions yesterday, the social media payments app said it was adding a flat fee of $0.25 for an “Instant Transfer,” which is a duration of 30 minutes or less. The […].
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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
PYMNTS
FEBRUARY 1, 2018
Credit cards and cryptos might be a match well made. In its latest quarterly report, Mastercard showed strength in cross-border volumes, up double digits at 22 percent. One point of that growth was buoyed — at least in part — by cardholders buying cryptocurrencies with their payment cards, Bloomberg reported. Of course, what goes up must come down. In a recent conference call with analysts discussing results, Mastercard CFO Martina Hund-Mejean said clients were spending on cryptos, and also on t
Bank Innovation
FEBRUARY 1, 2018
P2P payment platform, Square is now allowing users to purchase bitcoin worth up to $10,000 in a week on its Cash App. Square began testing the bitcoin option in November, and yesterday announced that users can now use the bitcoin buy/sell option. The option is not open to several states, including New York, Georgia, Hawaii […].
PYMNTS
FEBRUARY 1, 2018
As a matter of logic, what food looks like shouldn’t matter, since humans eat with their mouths — not with their eyes. And yet — as an multitude of Instagram food pictures proves — eating, particularly in the digital era, is a visual adventure as well as a gustatory one. While it can be fun to flip through photos of food on the web, particularly in the half hour or so before lunch, the aesthetic obsession is beginning to wear on some.
Bank Innovation
FEBRUARY 1, 2018
Apple has its Genius Bar, and Bank Innovation has its Innovation Bar, where three fintech experts (fintexperts?) share the wisdom (and complimentary signature cocktails.) Bank Innovation 2018 takes place March 5-6 at the Parc 55 Hotel in San Francisco. Matt Wilcox, SVP of Marketing Strategy and Innovation at Fiserv, will join Ryan Gilbert of Propel […].
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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.
PYMNTS
FEBRUARY 1, 2018
Fashion retailer H&M plans to shutter more than 170 of its brick-and-mortar locations this year through its largest store closure program in at least 10 years, Bloomberg reported Wednesday (Jan. 31). The company will close 170 stores in 2018, but it will also add a new discount brand called Afound. H&M has also said it would increase its investment in eCommerce and technology to track inventory, but it would still add stores to markets that are still experiencing growth.
Bank Innovation
FEBRUARY 1, 2018
Belgium bank Belfius today launched a payment feature that allows users to make P2P payments through social media platform Facebook’s Messenger as well as mobile messaging platform, WhatsApp. The feature can be accessed through Belfius’ mobile app. Payment through non-payment platforms such as Facebook is becoming increasingly popular among banks.
PYMNTS
FEBRUARY 1, 2018
Mobile-first bank Moven has raised $23 million in funding from financial services provider SBI Group, the Japanese owner of Softbank. According to a report in the American Banker , SBI will receive one seat on Moven’s six-member board and the companies will create a joint venture in Japan. What’s more, Moven is gearing up to separate into two distinct businesses.
Bobsguide
FEBRUARY 1, 2018
By Gustavo Burnier, Managing Director UK, Designit. To succeed in today’s financial landscape, banks must look at how they can best meet the demands of consumers, while at the same time ensuring they are keeping up with digital transformation. Today’s customers want a banking.
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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.
PYMNTS
FEBRUARY 1, 2018
PayPal’s Q4 2017 earnings report, in many ways, was a continuation of the same 2017 theme: earnings, profits, revenue and TPV are all up — and to a greater degree than predicted by analysts. But for all that was familiar, there was one very big, very different and very surprising change that overshadowed PayPal’s strong performance. PayPal and eBay are breaking-up — for real, this time.
Payments Source
FEBRUARY 1, 2018
For financial institutions to match Venmo and Apple Cash's power, they need an embedded, mobile and social payment strategy, write Richard Crone and Heidi Liebenguth of Crone Consulting.
PYMNTS
FEBRUARY 1, 2018
Consumer packaged goods (CPGs) entrepreneurs face many decisions as they grow their businesses. Distribution, packaging and funding can create challenges for those seeking to get their products from the farmers market to shelves of big box brick-and-mortar stores. It can be particularly difficult to overcome these challenges without experience or contacts.
Payments Source
FEBRUARY 1, 2018
The bank's commitment in the last couple of years to an "agile" environment of rapid testing and learning produced answers within a couple of months.
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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
FEBRUARY 1, 2018
Facebook is looking to reassure investors that its digital advertising business has a future of strength ahead of it, despite slightly slipping usage and a coming reboot to its News Feed. Overall, Facebook reported a 47 percent jump in quarterly revenue year-on-year, and on the conference call following the release, executives talked up the expansion potential on the horizon.
Payments Source
FEBRUARY 1, 2018
PayPal's brand is so ingrained with eBay sellers that its success forced the online marketplace to buy it in 2002. Even after the companies separated, their businesses remained intertwined. So it is no small decision for eBay to instead select Adyen as its primary payment processor.
PYMNTS
FEBRUARY 1, 2018
The Department of Education is gearing up to roll out a pilot program in which college students’ federal financial aid surpluses will be distributed via prepaid debit cards. BuzzFeed , citing a January notice, reported that by putting the payment on a debit card, the Education Department can better control how student loan borrowers use the money. The program, which may include as many as 100,000 students, will start later this year and will handle the federal financial aid left over after a sch
Payments Source
FEBRUARY 1, 2018
The South Asian nation’s income tax officials had started investigations into transactions at various illegal bitcoin exchanges in December, soon after the country’s central bank cautioned users about potential risks.
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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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