March, 2019

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Blockchain is dead

Chris Skinner

I used to blog about blockchain and distributed ledger technology (DLT) almost once a week … four years ago. Today, I hardly blog about it at all. I guess it just shows what’s top of mind and what’s not at any time in FinTech and, right now, blockchain is not … The post Blockchain is dead appeared first on Chris Skinner's blog.

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Rise in mobile shopping, banking forcing shifts in endpoint security

Payments Dive

The increased use of mobile apps in e-commerce, banking and corporate payments is forcing cyber experts to shift tactics and technologies to protect vulnerable endpoints from malicioius attacks.

Mobile 388
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Banks Finding More Entry Points to Real Estate Tech

Bank Innovation

Two real estate tech players, Compass and OpenDoor, each rather quietly raised $400 million from SoftBank in 2018, a year that included announcements like Credit Karma’s $500 million investment from Silver Lake and Plaid's $250 million raise that made it a unicorn. Meanwhile, JPMorgan Chase, Goldman Sachs and Citigroup all invested in real estate startups last […].

Capital 282
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India’s Federal Bank Teams Up With Blockchain Co Ripple For International Payments

PYMNTS

Federal Bank in India has partnered with blockchain payments company Ripple to facilitate cross-border payments, according to reports. Federal Bank confirmed the collaboration in an announcement to the Bombay Stock Exchange on Thursday (March 28). “ This is to inform Federal Bank has entered into a partnership with Ripple Inc, a blockchain supported global remittance company, for cross border remittance through its network, ” the announcement said. “ Powered by blockchain-enabled solution, the R

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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 and the rise of digital humans in financial services

Insights on Business

“AI is not going to replace managers, but managers who use AI will replace the managers who do not,” Rob Thomas, IBM General Manager of Data and AI predicted at IBM Think 2019. [1] A 16 trillion dollar opportunity, AI will fundamentally change every business process, every role, and how organizations will impact their industries. AI implementation grew by 270% in the past four years, and 37% in just the past year, according to a 2019 Gartner study.

More Trending

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Alipay and Visa announce global QR code venture

Chris Skinner

We all got hugely excited about Apple launching a credit card with Goldman Sachs and Mastercard last week. Whoopy-doo! This was a major lift for Mastercard in particular. As Wedbush’s Moshe Katri noted payments on the card will be processed by Mastercard using “Mastercard’s token and M-chip technology, which allow … The post Alipay and Visa announce global QR code venture appeared first on Chris Skinner's blog.

Apple 419
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What's coming with point-of-purchase trends

Payments Dive

Katie Kochelek, marketing specialist at Frank Mayer and Associates, Inc., shares insight on what experts expect to come this year with point-of-purchase.

Trends 397
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Regulatory flexibility drives Asia's cryptocurrency markets

Bobsguide

Constant dialogue and regulatory flexibility is propelling Asia to the forefront of the crypto industry, while Western jurisdictions and regulators fall behind by adopting a slower “wait and see” approach, according to executives at two EU-based cryptocurrency firms. “Asia can.

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Mastercard On Enabling Apple’s ‘Digital First’ Credit Card

PYMNTS

Ditch the plastic? Maybe, but not yet — and maybe not for a while. The world knows by now that Apple has debuted its credit card — the Apple Card — in conjunction with Goldman Sachs and Mastercard. The card is available in both virtual and tangible, plastic forms. The broad outline is one where the digital version of the card can be used wherever Apple Pay is accepted.

Cards 238
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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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Stop money laundering with a proactive AML approach

Insights on Business

The recently revealed $8.8 billion Troika Laundromat offshore money laundering scandal was a vast and complex deception. Not just a limited scheme, between 2006 and 2013 it facilitated fake trade deals, reinsurance fraud, tax evasion, hidden investments, a fuel pricing fraud scheme at Sheremetyevo Airport—and much more. The Organized Crime and Corruption Reporting Project and other news organizations are publishing the details.

Taxes 156
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The Problem For Small-Town Banks: Technology Has Redefined Community

Ron Shevelin

The traditional definition of "community" was a geographic construct, referring to a town, a county, or some other geographic region. The new definition of community is based on affinity, not geography.

Community 158
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The true meaning of Open Banking

Chris Skinner

A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking. Now, I read more and more about embedded banking, contextual banking, frictionless banking and more, and I … The post The true meaning of Open Banking appeared first on Chris Skinner's blog.

Branding 419
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Cashless trend becoming a crisis debate in UK, US

Payments Dive

The rise in cashless payments and the declining presence of bank branches and ATMs is leading to a potential crisis point in many communities across the U.S. and the U.K.

Trends 367
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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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Cyber crime is now a war of machine vs. machine

Payments Source

As companies invest heavily in artificial intelligence and other high-tech defenses, it is becoming more apparent that criminals are investing in equally powerful technology.

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Why Technology Isn’t Bank Transformation’s Silver Bullet

PYMNTS

Is there a right way and wrong way to innovate? For banks interested in transforming their brick-and-mortar branches, maybe, according to Diebold Nixdorf Senior Director of Advisory Services Chris Gill. Gill asserts that most financial institutions, left to their own devices, may end up following a less than optimal path to innovation, and not because they have selected the “wrong” technology solution, since in Gill’s experience, what’s “wrong” for one FI might be right for another.

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Report: Machine learning aids visible hand of payments

Bobsguide

Banks are turning to machine learning and other advanced technological protocols to protect consumers in the escalating fraud arms race, as legacy systems creak under the digital burden - market participants and commentators say. “As banking has entered the online and mobile channels, so.

Report 153
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JPMorgan Chase Enters A Hot Fintech Space: Point-Of-Sale (POS) Financing

Ron Shevelin

Banks and credit unions are missing big opportunities in the point-of-sale financing space as fintech startups like Affirm capture share. They needn't miss out on this market.

Fintech 141
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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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The true meaning of Open Banking

Chris Skinner

A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking. Now, I read more and more about embedded banking, contextual banking, frictionless banking and more, and I … The post The true meaning of Open Banking appeared first on Chris Skinner's blog.

Branding 419
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Wearables may drive contactless, reduce POS time

Payments Dive

Ralf Gladis, founding director, Computop, explains why with the growing adoption of wearable devices, merchants have a clear opportunity to help improve the payments experience for merchants and consumers alike.

Payments 338
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Apple Card: 7 key takeaways

Payments Source

Apple's new credit card isn't just another virtual card in its virtual wallet. It borrows a lot of features from the most successful brands in payments and technology.

Apple 160
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FIS Buys Worldpay In $35B Cash, Stock Deal

PYMNTS

Fidelity Information Services ( FIS ), a global financial services technology company, announced Monday (March 18) it is merging with Worldpay , the global eCommerce and payments company, in a roughly $35 billion dollar deal. In a press release , FIS said the deal expands its capabilities by enhancing its acquiring and payment offerings. For Worldpay, it expands its distribution footprint and accelerates its entrance into new regions.

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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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Technology obsession blinding banks from real cybercrime threat

Bobsguide

An obsession with the latest and greatest cybersecurity technology and a lack of empowerment for chief security officers is holding banks and others in financial services back from tackling the real root of the problem – cybercriminals already infesting their networks. “The security.

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Lessons learned from recent incentive compensation management war stories

Insights on Business

In my travels to clients, I hear many war stories. Recently, these have come from new clients with recent wounds. These wounds often go deep – there are tales of long days, lost weekends, and swaths of frustrated team members. I am reminded of the Greek fable of Sisyphus , who discovered and shared the secrets of the gods with others, punished by being chained to a giant bolder, forced to push it up a hill each day, only to roll down, and start back over.

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If banks provide no advice, what do they provide?

Chris Skinner

For many years, banks have talked about moving away from transactions and towards advice. The branch is for advice. We will become trusted advisors. We see the value-add of banking is the information we can analyse around your data to offer advice. Complete rubbish. I’m sorry, but I’ve towed that … The post If banks provide no advice, what do they provide?

Data 417
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Worldpay, First Data deals reflect globalization of payments space

Payments Dive

The blockbuster acquisitions of First Data and Worldpay in recent months reflect a serious turn towards globalization in the payments industry and will likely result in continued consolidation, according to experts.

Data 337
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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.