Thu.Jul 13, 2017

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A three-stream financial world: which one to watch?

Chris Skinner

I was reflecting on a question posed to me recently by a Turkish banker. He asked me: “why is it that the Western banks are always talking about legacy?” I knew exactly what he was getting at, as the banks I deal with in USA, UK, France, Germany and other European nations are always fretting over the challenge with their old systems. It is not surprising when 43 percent of their bank systems are built in COBOL and other old programming languages where few people have any knowledge of how to p

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5 Fintech Startups Under the Radar

Bank Innovation

Fintech is growing more quickly than ever, but sometimes we have a tendency to focus on the innovations made by the big companies, leaving smaller fintechs in the shadows. From PFM to P2P to roboadvisors to microlending, these under-the-radar startups are changing the world of fintech. Take a look at Bank Innovation’s list of 5 […].

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Visa continues to thumb nose at cash

Payments Dive

The card this week announced a program to award small-and-medium sized business to renounce cash in favor of shiny new point-of-sale systems that accept credit and debit payments as well as those of the digital variety.

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Stash Uses New Funding to Keep Focus on Underserved Investors

Bank Innovation

New platform, new services, new data analytics, but same old Stash. The micro-investing startup will be enhancing its platforms as well as building out new products and services thanks to the Series C round of funding it announced today. What it won’t be doing with the influx of $40 million in fresh capital (bringing its […].

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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

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AI/BOTS: AI’s Impact on The Digital Retail Revolution

PYMNTS

The digital retail revolution is well underway. Fusing technology into in-store experiences has officially gone mainstream, and retailers are looking for ways to go beyond the traditional mobile app. As we’ve reported in the past, places like Sephora have installed various tablets with embedded augmented reality (AR) features to help customers pick and choose what makeup shades look best on their skin tone.

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Registration deadline approaching - Risk management summit 2017

Abrigo

One month before the primary registration period ends. Register now and save $100 per registration. The 2017 Risk Management Summit presented by Sageworks is set for September 25-27th in Denver, CO. The Summit is the industry’s leading life-of-loan conference, spanning loan origination through portfolio risk management in a CECL - current expected credit loss - world.

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Things worth reading: 14th July 2017

Chris Skinner

Things we’re reading today include … Bitcoin just got a vote of confidence from Switzerland’s legendary banking system Post-crisis, US banks have recovered while their European peers are still looking for ways to survive Investors bullish on financials ahead of bank earnings Credit card defaults jump at fastest pace since end of Great Recession Hong Kong regulator forced to bare teeth after wild stock swings Africa is Islamic banking’s new frontier A new approach to financial r

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Repair Man Locked Inside ATM And Rescued

PYMNTS

Working in the ATM business can be dangerous. From potentially getting robbed when reloading the ATM with money to installing the heavy machine, it’s possible to sustain severe injuries. However, it’s being reported out of Corpus Christi, Texas, that a repair man accidentally locked himself inside an ATM he was working on. The room located behind the machine that allows workers to repair it was the place where the man was stuck.

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PSD2 is pushing banks to reinvent themselves, but are they up to the task?

Bobsguide

“Banking is necessary, banks are not” Bill Gates famously said in 1994, speculating on the future power of technology. As the Second Payment Services Directive (PSD2) comes into effect at the beginning of 2018, what once seemed like a controversial statement is now gaining increasing.

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The State of Automation in Financial Services 2024 Report

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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Pepsi, Coca-Cola And Others Must Refresh Their Strategy In Changing Retail World

PYMNTS

Things aren’t so bubbly for PepsiCo and other drink and snack giants. Shifting consumer habits have left traditional retail with less and less to stand on, and it turns out that consumer products companies have similarly had the rug pulled out from under them. PepsiCo and Coca-Cola Co. may have led the charge on distribution with a powerful brick-and-mortar and vending machine strategy, but they’re lagging in the online direct sales marketplace.

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What Is Zelle and Why Does It Matter?

Let's Talk Payments

You would be hard-pressed to miss the news about the recent launch of the person-to-person payments app, Zelle. The company’s parent company, Early Warning Systems (EWS), has released a full.

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TSYS Reaffirms Its Partnership With German Bank

PYMNTS

Global payments provider TSYS is making headlines today with news of its renewed agreement with German-based Degussa Bank. Terms of the long-term multi-year agreement were not released at this time, and both parties have been working together since 2010, but the two entities have put out a joint press release sharing the initial tidbits of the partnership.

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Millennial Subscriptions Build Loyalty & Predictability Subscription Services for the New Millennials

Let's Talk Payments

There seems to no end to the creative ways that payment providers are finding to allow people to give you their money. Mastercard began verifying selfie transactions using facial scanning.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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Pinterest Hires Two Former Google Executives

PYMNTS

Pinterest is building out its advertising team, and it means business. The visual social media site just announced the hiring of two former Google executives. Jon Alferness, former vp of product management at Google’s shopping and traveling products, joins Pinterest’s ad team as the new head of ad products. Meredith Guerriero, who previously served as Google’s director of programmatic platforms and solutions as well as Facebook’s director of health, grocery and politics, is moving into Pinterest

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7.13.17: Your morning briefing

Payments Source

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: A loophole in PayPal's Apple collaboration; Could Whole Foods accelerate Amazon Go? ; Swiss bank supports Bitcoin; Verizon suffers a breach.

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Direct To Consumer: Impact On Consumer Expectations

PYMNTS

Cutting out the middleman has helped many retailers provide a quicker experience for consumers. Some may argue that it also enhances the quality of produced products. In today’s tech-savvy age, providing a direct-to-consumer (DTC) experience has slowly worked its way to becoming the norm. Merchants are bypassing third parties to help bring products and services to consumers without any added hassle.

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Cardtek adds RuPay transit card to Smart City initiative

Payments Source

Payments technology provider Cardtek and partner Axis Bank have launched a national open-loop payment system featuring a contactless card for public transportation and other purchases in India.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Today in Data: Investment News Update

PYMNTS

Money makes the world go around, and there’s certainly no disputing that issue. Without regular rounds of fundraising, it would probably be very difficult to both get companies off the ground and stay afloat during the first few years of business or when there’s a new project on the horizon. From the mobile industry to cybersecurity and financial services, there are a wide range of companies sharing funding news this week.

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The 3 Dimensions of Bank Delivery Channel Management

Gonzobanker

Understanding their Return on Channel arms bank executives with the insight to better manage delivery investments and strategies. The shift in customer delivery channel usage is simply the most significant strategic challenge bank executives will face over the next decade. Unfortunately, most organizations are using outdated and flawed frameworks for managing this shift.

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Bitcoin Tracker: Mainstream Acceptance On The Rise

PYMNTS

Bitcoin came onto the scene nearly a decade ago in 2009 and has slowly been making strides in the financial world ever since. What makes it unique is that it was developed and is managed by cryptocurrency, which has no central authority. The digital currency has been restricted to the financial sector, but it’s slowly moving its way into more mainstream uses.

Bitcoin 101
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U.S. consumers optimistic on the future of payments tech

Payments Source

If U.S. consumers are taking a cautious approach in adopting new payments and security technology, they at least are becoming keenly aware of the options available now and in the near future.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

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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Google’s Big Mobile Moves In India

PYMNTS

Over the last 18 months, India has moved full-speed ahead from a nearly entirely cash-based society to one with ambitions of being totally cashless. The most public — and most famous — step in that direction is demonetization in India , when last November the central government suddenly and rapidly banned 500- and 1,000-rupee Indian notes. Thus, in one fell-swoop, 86 percent of the nation’s physical currency was taken out of circulation.

Mobile 101
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Enterprise Risk Management – A Comprehensive Breakdown

Gonzobanker

In this CUES podcast , host James Lenz sits down with Vincent Hui , Senior Director of Cornerstone Advisors, to discuss Enterprise Risk Management – the risks and pay-offs from an operational and strategic perspective. [link]. In the podcast, Hui covers these key questions: What can your institution do to improve its risk management strategy? Is innovation worth the risk of failure?

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Peapod And Alexa Deliver Greater Grocery Ordering Convenience

PYMNTS

Peapod was one of the earliest Internet startups to offer grocery delivery services, so it only makes sense that the company would strive to stay at the forefront of the grocery sector – now more than ever, as the changing grocery landscape threatens to cull the weakest players in the space. The Illinois-based service already helps busy people shop faster and smarter with an intuitive app that helps them save money as well as time on restocking pantry staples, fresh foods and meal solutions.

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Bitcoin acceptance among retailers is low and getting lower

Payments Source

Retailers were already skeptical about letting customers pay with bitcoin before the cryptocurrency’s price underwent an astronomical rally this year. That rapid surge hasn’t made them any more accepting. In fact, it may have done the opposite.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.