Bank Innovation
MAY 28, 2018
Voice banking has been touted as the technology to watch in 2018 (even on this very site), but two developments this week show the new technology has significant challenges to overcome. Whether or not consumers choose to engage in "voice banking," the risks are growing. Juniper Research predicts that half of American households will contain a […].
Chris Skinner
MAY 28, 2018
Things we’re reading today include … Canadian Banks: Cyber Thieves Claim They Have Stolen 40,000 Clients’ Data China $10 Trillion Shadow Bank Crackdown Has Long Way to Go Blockchain Will Be Adopted by Every Bank More of UK stake in RBS could be sold off this week Graduate applications flood … The post Things worth reading: 29th May 2018 appeared first on Chris Skinner's blog.
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Bank Innovation
MAY 28, 2018
How much would you discuss with Erica, Nomi or Eno? And no, those aren’t people, but virtual assistants provided by some of the largest banks in North America. Artificial intelligence has become a hot topic, and even more so in relation to chatbots and virtual assistants. But just how comfortable is a customer speaking to […].
PYMNTS
MAY 28, 2018
Apple is reportedly gearing up to allow third-party developers to get full access to the Near-Field Communications (NFC) chip in the iPhone with iOS 12. Citing The Information, 9to5Mac reported that Apple is aiming for the iPhone to be used for more digital payments and other interactions, such as opening hotel room doors or as a virtual transit card for easier access to transportation.
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Payments Source
MAY 28, 2018
For years, it has been necessary for consumers to call their financial institutions before leaving for a trip to a foreign country so that their cards would not be frozen after buying dinner upon arrival. But mobile technology can infer a user’s identity and make device-based decisions on the validity of a transaction, writes Kayne McGladrey, an IEEE member and director of information security services for Integral Partners.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Source
MAY 28, 2018
Several U.K. businesses have shifted their stance on credit card acceptance in the wake of a new EU law that became effective Jan. 13 — with some providers putting an end to their credit card acceptance altogether.
PYMNTS
MAY 28, 2018
Investing? In Uber, in Airbnb, in the big guns and the up-and-coming pistols of tech? That’s the arena in which those with the deepest pockets play, say some who stay on the sidelines. Venture capital is for the firms and the individuals with the wherewithal to commit hundreds of millions of dollars. Those investors are the ones who can afford to wait years before they get their money – hopefully with a lot of return on investment.
The Paypers
MAY 28, 2018
(The Paypers) South African authorities have investigated the Bitcaw Trading Company for investment fraud following a loss of approximately USD 8 million, affecting 28,000 people.
PYMNTS
MAY 28, 2018
Paytm , the leading digital wallet company in India with more than 230 million customers, has reportedly shared the personal data of users with the Indian government. According to a report in BuzzFeed late last week, the Indian investigative news agency Cobrapost released a video of an undercover reporter meeting with Paytm’s vice president, Ajay Shekhar Sharma.
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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
The Paypers
MAY 28, 2018
(The Paypers) Card Tech , the developer of the biometric system on card, and Fingerprint Cards have entered into an agreement to bring a dual interface biometric smartcard to the financial market.
PYMNTS
MAY 28, 2018
To make sure they can compete with the United States and China, France and Germany want an EU-wide initiative that will fund innovation and research in tech startup projects across the region. According to Reuters , Europe has lagged behind the United States in developing new technologies. Part of the problem is that European investors are generally more risk-averse than venture capitalists in the States.
The Paypers
MAY 28, 2018
(The Paypers) The Kenyan Finance Ministry has published a draft bill on financial regulation covering digital lenders, to ensure the fair treatment of retail customers.
PYMNTS
MAY 28, 2018
Google has rolled out a new feature in which flight, hotel and car rental bookings are now part of Google Assistant ‘s settings. According to a report in Android Police , when users access their travel reservations via the Google app or the Home app, they will see a new Reservations item under account settings. Currently, the setting will display flight reservations, but it could add hotels and train reservations down the road.
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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
The Paypers
MAY 28, 2018
(The Paypers) Money Forward , a Japan-based personal financial management startup, has created a subsidiary in charge of setting up its own cryptocurrency exchange.
PYMNTS
MAY 28, 2018
Selfridges has been named best department store in the world at the Global Department Store Summit in London. The two other finalists at the event, which was sponsored by the Intercontinental Group of Department Stores, were France’s Printemps and Italy’s Rinascente. According to Chain Store Age , the criteria for the award include successful development and executions of product, store, online and service innovation strategies; delivery of an outstanding in-store experience; excellent customer
The Paypers
MAY 28, 2018
(The Paypers) Nigeria-based Union Bank has introduced a Robotic Process Automation to ease routine banking operations made by ATMs.
PYMNTS
MAY 28, 2018
Moving companies traditionally charge consumers a fixed fee for a move along with other costs: As a result, an already stressful process becomes more of a hassle for consumers. But services such as Bellhops are disrupting the market — and making a challenging time for consumers easier — by bringing an on-demand pricing model to the moving industry. The idea came about by helping college students move in and out of their dorms at Auburn University in 2011.
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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.
The Paypers
MAY 28, 2018
(The Paypers) Security researchers have discovered a new banking trojan named BackSwap that uses advanced techniques to facilitate the theft of online funds.
PYMNTS
MAY 28, 2018
It wasn’t all about GDPR. Well, a lot of it was. You may be forgiven for thinking that the regulatory environment last week was all about data protection. Yes, the General Data Protection Regulation took the spotlight, debuting in Europe, as had been long anticipated, on May 25. Perhaps among the poster children for debates around data and privacy, Facebook came into the headlines this past week.
The Paypers
MAY 28, 2018
(The Paypers) An RSA Security report for Q1 of 2018 has revealed that 39% of all fraudulent transactions during the quarter were carried out on mobile apps.
PYMNTS
MAY 28, 2018
Despite a positive earnings report this week, Best Buy has a dirty little secret: It’s in the process of closing all 250 of its U.S. small-format Best Buy Mobile stores. By May 31, they’ll all be gone. In contrast to the small-format Best Buy Mobile store closings, only 17 of the closures affected full-scale locations. The company still achieved comparable sales growth of 7.1 percent in the first quarter, driving domestic sales totals up 6.3 percent to a total of $8.41 billion.
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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.
The Paypers
MAY 28, 2018
(The Paypers) Abu Dhabi Global Market and KPMG Lower Gulf have announced the launch of the second edition of the FinTech Abu Dhabi Innovation Challenge.
PYMNTS
MAY 28, 2018
Responsible short-term, small-dollar loans to consumers will result in increased purchasing power, according to a paper from the American Banking Association about small-dollar lending. The Office of the Comptroller of the Currency (OCC) last week issued new guidance encouraging banks to offer those loans to their customers. The guidance changed no regulation.
The Paypers
MAY 28, 2018
(The Paypers) Gemalto has partnered with Qualcomm Technologies to integrate mobile connectivity solutions with Qualcomm Snapdragon mobile PC platform.
PYMNTS
MAY 28, 2018
A few months after its launch, Yahoo announced it is shutting down Tanda for Yahoo Finance, an app that allowed small groups of people to save money together for short-term goals. “With Tanda, we wanted to introduce the concept to mobile U.S. consumers for the first time,” Joanna Lambert, general manager of finance and tech at Oath , wrote in a blog post.
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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.
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