December, 2019

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Four digital banking trends to watch in 2020

Payments Dive

The growing phenomenon of direct, digital banking and Silicon Valley's entry into the payments business are posing a series of challenges to traditional banking institutions. NCR's Doug Brown explores the landscape for 2020 to determine how these trends will impact the global banking business moving forward.

Trends 440
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Bank of the West to launch account for eco-friendly customers

Bank Innovation

Bank of the West is currying favor among customers who care about environmental sustainability. The bank, which is a U.S. subsidiary of BNP Paribas, is launching a new checking account in early 2020 called 1% for the Planet that will show customers the carbon footprint of their purchases. The product launch is appealing to consumers […].

America 368
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Traditional banks are suffocating … they just don’t know it yet

Chris Skinner

An interesting lunch discussion about data the other day. It started when someone had picked up on my blog about Ana Botin, where she made the comment: “Why should data be regulated in a different way if you’re called a bank and if you’re called something else … more than two … The post Traditional banks are suffocating … they just don’t know it yet appeared first on Chris Skinner's blog.

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Holiday Sales on the Dark Web

Abrigo

Key Takeaways Holiday sales, including Black Friday and Cyber Monday, are aggressively promoted by criminal sellers on the Dark Web seeking to grow sales and customers. The expected outcome of greater inventory at a lower cost, as we have seen in prior years, is an increase in fraud activity and cyberattacks heading into the end of the calendar year.

Fraud 307
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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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Nigeria Turns To FinTechs To Boost Financial Inclusion

PYMNTS

In an effort to expand access to financial institutions (FIs), the Central Bank of Nigeria is planning to license more payment providers, Bloomberg reported on Saturday (Nov. 30). . The goal is to improve Nigeria’s financial inclusion rate by 20 percent, bringing it to 80 percent by the end of 2020. “The provision of licenses to several players will help support innovation and competition as all parties work to increase their customer base,” Central Bank of Nigeria Governor Godwin Emefiele said

Fintech 254

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Black Friday sets online, mobile shopping records

Payments Dive

Black Friday shopping figures in the U.S. showed more consumers embracing mobile and general online shopping for the best deals. Meanwhile average order volume increased, showing more willingness to make big ticket purchases via smartphone.

Online 439
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California’s fintech startups are invading New York

Bank Innovation

When two Irish brothers started Stripe Inc. together in 2010, there was little question about where they should put their headquarters. It had to be California. Now, though, Stripe is leaving the tech mecca of San Francisco, awash in tech talent and investor cash, and is in the process of moving its main office about 10 […].

New York 367
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China’s Singles Day is five times bigger than Black Friday … and it’s all down to Cloud and AI

Chris Skinner

Regular readers of the blog know that I’m a fanboy of Alibaba and their financial firm Ant Financial which operates Alipay, the major payments system of China. On November 11, they had their Singles Day jamboree. The equivalent in China of Black Friday, some say, but more than five times … The post China’s Singles Day is five times bigger than Black Friday … and it’s all down to Cloud and AI appeared first on Chris Skinner's blog.

System 316
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Prevention is the Key to Stopping Elder Financial Exploitation & Fraud

Abrigo

Key Takeaways Elder financial abuse/exploitation (EFE) is under-reported although it remains on the rise. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. . The under-reported and growing crime. Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States.

Fraud 284
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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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Automakers Worry That Qualcomm Appeal Could Boost Cost Of 5G Cars

PYMNTS

If microchip supplier Qualcomm wins its case on appeal, the cost of connected cars using 5G technology will skyrocket, automakers and suppliers said in court filings on Friday (Nov. 29), Reuters reported. Judge Lucy Koh ruled in May that Qualcomm, the world’s largest supplier of mobile phone chips, is a monopoly and has to change the way it does business.

San Diego 243
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Visa adds fintechs to create a network effect for open banking

Payments Source

Visa is adding more fintechs to a platform that puts the card network in the role of a network-agnostic payment technology company to support open banking.

Fintech 166
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Is cashless underserving the underbanked?

Payments Dive

As cashierless shopping becomes more popular, a stark disparity is coming to light — the underbanked are getting left behind. In this blog post, Plain Green's Guy Dilger talks about the move away from cash and how some cities are fighting back.

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A Missouri bank is using tech to secure large deposits from public entities

Bank Innovation

Bank of Franklin County, a Washington, Mo.-based bank with $273 million in assets, is using ‘cash sweep’ technology to gain large deposits from public funds without having to put up its own assets as collateral. While accepting large deposits is not a pain point for most financial institutions, accepting public funds requires additional steps.

Missouri 364
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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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The Case for a Bitcoin ETF

Chris Skinner

I’ve noted that the bitcoin swings and roundabouts tend to often cycle around the hope and expectation of the US SEC giving approval to a bitcoin ETF … only to find that they never do and so it goes around. In an interesting article by Dave Weisberger on Coindesk, there … The post The Case for a Bitcoin ETF appeared first on Chris Skinner's blog.

Bitcoin 295
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5 Underrated Winter Destinations In India

BankBazaar

Want to take a nice winter vacation but unable to find accommodation at most tourist spots? Here are some underrated places you can consider! Nothing beats ending a year with a nice cozy winter vacation, right? The typical impulse is to drive off to a hill station and enjoy misty mornings that clear up for a beautiful view. However, one of the banes of planning a winter vacation is that most popular hill stations or holiday spots are booked way in advance.

Maine 144
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PayPal Closes On GoPay Acquisition, Enters China

PYMNTS

For PayPal, eyeing growth and eyeing new markets, the gaze is, at least in part, turned eastward. News came Thursday (Dec. 19) that the company has closed its deal to buy a majority equity stake in China’s GoPay (the formal, official name of the company is Guofubao Information Technology Co. Ltd.). The deal had originally been announced at the end of September.

US 233
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Consumer frustration with breaches is biometrics' tipping point

Payments Source

While we expect growing consumer demand for biometrics, we also expect to see payments industry players move toward these types of future-proof technologies and away from legacy password-type systems, says Nuance Communications' Simon Marchand.

System 153
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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.

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Payment security in a world going mobile

Payments Dive

As a rising number of consumers use digital payments to conduct ecommerce transactions, businesses need to make sure their mobile apps are secure. Customer identity and payment information is increasingly at risk as fraud actors find new ways to compromise mobile platforms.

Mobile 347
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OnDeck’s Noah Breslow on building a community business bank

Bank Innovation

Small business lending company OnDeck is expanding its ecosystem of products. Through its application for a bank charter, the company wants to become a full-service digital bank for small businesses it says are overlooked by traditional banks. In this episode of Fintech Unfiltered, which is sponsored by Blend, Bank Innovation sat down with OnDeck CEO […].

Community 360
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Banking in the 1990’s … even then, the writing was on the wall

Chris Skinner

Back in 1997, I was tasked with writing a strategy for NCR. The strategy had to review the likelihood that other industries would enter banking and what threat or opportunity this offered. I spent a long time on this and concluded that the most likely outcome would be that telecommunications … The post Banking in the 1990’s … even then, the writing was on the wall appeared first on Chris Skinner's blog.

Strategy 267
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Home Loan EMI Calculator: How It Works

BankBazaar

Are you planning to apply for a Home Loan and are confused about what the EMIs will be? Well, this is where a loan EMI calculator comes to your rescue. Are you planning to apply for a Home Loan and are confused about what the EMI s will be? Well, that’s a common question everyone has when planning to apply for a Home Loan. You, however, need not worry about this at all as our Home Loan EMI calculator will calculate your EMIs for you in an instant!

Online 144
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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

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Doing Battle With Holiday Fraudsters At The ATM

PYMNTS

The holiday season is in full swing. That means opening up wallets and purses at the point of sale, which often means paying with cash … and cash? Well, that means trips to the ATM. For fraudsters, armed with new technologies, the ATM is fertile ground for fraud. In an interview with PYMNTS, David Phister, director of systems security product management at Diebold Nixdorf , said that when it comes to combatting fraud, “holiday seasons are always tough.

ATM 227
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Professional Guides on the Path to Digital Change

Jack Henry

Commercial lending is no longer immune to the digital transformation that has forever changed the world of banking. Now business borrowers, like consumer borrowers before them, are demanding faster access to capital and a better customer experience. Yet many commercial lending teams still have no technology in place to satisfy those demands. Why?

Lending 138
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Next-gen ATM's, mobile banking and the future of cash access

Payments Dive

Donna Embry is the SVP of global payment strategies at Evolve Bank & Trust, and she's involved with next-gen on multiple levels. ATM Marketplace spoke with her to learn more about why IADs, in particular, should be paying attention to the project.

ATM 329
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Marqeta to focus on growing product suite in 2020

Bank Innovation

If 2019 was the year of the challenger bank, 2020 will be the year payments companies move closer to bank territory. Marqeta, the card issuing and processing startup supporting the capabilities of large companies like Kabbage and Square, sees 2020 as a big year for payments companies branching out into banking. Marqeta sees major opportunities […].

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.