Sun.May 19, 2019

If Facebook launch a cryptocurrency, will US government shut it down?

Chris Skinner

I’m writing more and more about Facebook launching its own cryptocurrency lately: Will Facebook become the world’s central bank? March 2019) Will a global platform connect all of our money? April 2019) This is because they are getting serious about payments and blockchain, after a variety of reports that they … The post If Facebook launch a cryptocurrency, will US government shut it down? appeared first on Chris Skinner's blog.

NY Seizes Municipal Credit Union After Embezzlement

PYMNTS

New York’s Department of Financial Services seized Municipal Credit Union , New York’s oldest credit union, on Friday (May 17), saying it is facing “unsafe and unsound” conditions. The move comes after its ex-Chief Executive Officer Kam Wong pleaded guilty to embezzling funds, reported Reuters. According to the report, the former CEO pleaded guilty in November to embezzling millions of dollars from the credit union. Wong was in charge from 2007 until 2018.

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Things worth reading: 20th May 2019

Chris Skinner

Things we’re reading today include … Top Banks ‘Investing $50 Million’ to Build Blockchain Settlement System Eye on lira, Turkey abandons plan to tap central bank reserves Bank of England built up Brexit war chest to avert possible sterling crisis Why Goldman Sachs should buy Deutsche Bank Deutsche Bank denies … The post Things worth reading: 20th May 2019 appeared first on Chris Skinner's blog. Reading

Taxi Drivers Driven To Bankruptcy Over Medallion Loans

PYMNTS

The New York City taxicab industry has been suffering, with a series of suicides plaguing taxi drivers over the past year as they struggle with debt and financial strife. While New York City has long blamed Uber and Lyft for the industry’s woes, a New York Times investigation found the fault lies with industry leaders. An investigation by The New York Times shows industry leaders artificially drove up the price of taxi medallions.

Intelligent Process Automation: Boosting Bots with AI and Machine Learning

Across all sectors, companies are learning that they can transform their businesses by embracing Intelligent Process Automation, or IPA. With the pairing of AI and RPA, IPA adds a new layer of intelligent decision-making processes to automated RPA tasks. By automating repetitive work, and adding the ability to automate intelligent decision making, intelligent automation frees up your most valuable resources – your employees – to spend more time on higher value and more strategic work. But in order to reap the rewards of Intelligent Process Automation, organizations must first educate themselves and prepare for the adoption of IPA. In our ebook, Intelligent Process Automation: Boosting Bots with AI and Machine Learning.

Top 7 Crypto Exchanges for IEOs

Daily Fintech

Last week our theme was “Bitcoin going parabolic. ALT Season is Almost Here!“ Our theme for this week is “Top 10 Crypto Exchanges for IEOs”. Initial Exchange Offerings (IEOs) are picking up steam, capturing the interest of investors, project teams, and exchanges. IEOs have been breathing new life into the dying ICO model. While the first IEOs took place back in 2017 (Bread, Gifto), the trend didn’t really take off until early 2019.

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Carrefour Mulls Selling Off Part Of China Business

PYMNTS

Carrefour is reportedly looking into selling a minority stake in its business in China, and has already started speaking to potential buyers. Sources told Reuters that the company is working with BNP Paribas on the deal. But when asked about a potential sale, a Carrefour spokeswoman said, “There is nothing particularly new to say about the matter.” BNP Paribas had no comment.

How fraudsters forced Ticketmaster to become a digital ID innovator

Payments Source

Ticketmaster has battled fraud in paper ticketing for years — but mobile technology introduced new ways for fraudsters to steal, resell and counterfeit high-priced digital tickets. Fraud prevention Card fraud Fraud detection Payment fraud Digital ID Identity verification

Bitcoin Daily: Bitfinex To List New Exchange After $1B IPO; Frank Timis Clashes With Argo Blockchain

PYMNTS

Crypto exchange Bitfinex announced that it will list its new exchange token on its platform and it will be tradeable against bitcoin, the U.S. dollar, the tether stablecoin, ether and EOS. Upon publishing the UNUS SED LEO whitepaper last Friday, May 10th, Bitfinex conducted and completed a private sale of 100% of outstanding UNUS SED LEO tokens in exchange for one billion USDt worth of Bitcoin, USD, and USDt,” the company wrote in a blog post.

How green is your bank? Defining sustainable finance

The Banker

The banking industry is waking up to the importance of meeting – and being seen to meet – environmental standards. But progress will be limited until universal definitions and standards can be agreed. Silvia Pavoni reports on the various initiatives in progress

The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

Bank Of Italy To Reward Eco-Friendly Companies

PYMNTS

The Bank of Italy is gearing up to reward companies that make moves to fight climate change, reported Reuters. According to the report , the Bank of Italy is joining other central banks in creating investment criteria that reward green actions in an effort to get banks and money managers to be more environmentally friendly. By the end of June, the new criteria will apply to about $8.9 billion in shareholdings.

It’s Time To Move From Digital Banking To Embedded Experiences

The Financial Brand

Reimagining banking around proactive advice and product recommendations based on consumer behavior and lifestyles can up the industry's game. The post It’s Time To Move From Digital Banking To Embedded Experiences appeared first on The Financial Brand. Digital Banking Strategies Featured Content digital banking

OneCoin Denies Crypto ‘Ponzi-Pyramid Scheme’ Allegations

PYMNTS

OneCoin has sent a letter to the press denying that it is a “hybrid Ponzi-pyramid scheme” and scam. In March, United States prosecutors announced criminal charges against the leaders of OneCoin: Konstantin Ignatov, 33, and his sister Ruja Ignatova, 38, known as the “Cryptoqueen.” Prosecutors say the two tricked investors by promising huge returns with very low risk, generating around 3.353 billion euros ($3.769 billion) in sales revenue.

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Fintech Authority Chris Skinner Reveals Keys to Being True Digital Bank

The Financial Brand

Noted fintech influencer says traditional banking institutions have a strong future. if they adapt. He shares lessons from digital leaders. The post Fintech Authority Chris Skinner Reveals Keys to Being True Digital Bank appeared first on The Financial Brand. Digital Banking Strategies Featured Content

How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Regulators Investigate China’s Ex-Securities Regulator

PYMNTS

Liu Shiyu, the former head of China’s securities regulator, is being investigated for violating anti-corruption laws. According to a report in Reuters citing the Central Commission for Discipline Inspection, Liu Shiyu surrendered to authorities and was cooperating with the National Supervisory Commission. No further details were provided in a statement on the government agency’s website, reported Reuters. Liu Shiyu had become head of the China Securities Regulatory Commission in 2016.

5G to Speed Digital Transformation of Banks and Credit Unions

The Financial Brand

Advanced wireless tech rolling out around the U.S. will complement banking institutions’ customer experience strategy on mobile and more. The post 5G to Speed Digital Transformation of Banks and Credit Unions appeared first on The Financial Brand. Mobile Channel

CapitalBay to launch P2P financing platform

The Paypers

(The Paypers) Multi-bank supply chain finance platform CapitalBay has received the approval from the Securities Commission Malaysia to operate a P2P financing platform

It’s Time To Move Beyond Digital Banking

The Financial Brand

The future of digital banking requires proactive advice and product recommendations based on consumer behavior and lifestyle needs. The post It’s Time To Move Beyond Digital Banking appeared first on The Financial Brand. Digital Banking Strategies Featured Content digital banking

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Tarabut Gateway to enable open banking services for NBB

The Paypers

(The Paypers) The National Bank of Bahrain has partnered with open banking systems provider Tarabut Gateway to deliver new open banking services to its customers

Trump Blacklist Prompts Google To Cut Some Ties With Huawei

PYMNTS

Google is halting a business relationship with Huawei , the Chinese telecommunications company, in what is seen as a blow to the company that has been on the radar of the U.S. government. According to a report in Reuters citing a source familiar with the matter, Google is suspending all business with Huawei that requires it to transfer hardware, software and technical services. The only exception, noted the report, is when it’s publicly available via an open source licensing.

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