Bank Innovation
DECEMBER 23, 2019
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 […].
Payments Dive
DECEMBER 27, 2019
The 2019 holiday shopping season proved to be a record setting season for e-commerce, and demonstrated the changing patterns in global commerce that will impact retail and payments for the future.
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PYMNTS
DECEMBER 26, 2019
The Central Bank of the Bahamas is planning to start a rollout of its new digital currency on Friday (Dec. 27) in Exuma. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release. The move is long-awaited and comes after years of work through the Bahamian Payments System Modernization Initiative (PSMI), which began in the early 2000s.
Chris Skinner
DECEMBER 21, 2019
The main blog headlines are … Have Yourself a Merry FinTech Christmas So it’s the holiday season and time for some time off. I’m back on January 6th 2020. The only thing I can say is … here’s to a fantastic 2020 … the year of Doing Digital. “Stop … The post The Finanser’s Week: 16th December – 22nd December 2019 appeared first on Chris Skinner's blog.
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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
Bank Innovation
DECEMBER 24, 2019
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 […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
DECEMBER 23, 2019
Policy advisers at a leading think tank said that China should introduce a regulatory framework for artificial intelligence in the finance sector, according to a report from Reuters on Sunday (Dec 22). The same framework should be in place to improve technology used by regulators in efforts to strengthen supervision throughout the industry, the think tank also says.
CFPB Monitor
DECEMBER 27, 2019
While banks, community groups, and regulators all seem to agree that there is a need to reform the Community Reinvestment Act (the “CRA”), which was signed into law by Jimmy Carter back in 1977 and hasn’t received a major update since the Clinton administration, there is significant disagreement over whether or not the recently proposed changes represent a path forward toward modernization and simplicity or a path backward toward discrimination and exclusion.
Bank Innovation
DECEMBER 24, 2019
Financial technology startups will enter the next decade with a little more street cred than the last time around. Nearly 60 upstarts focusing on financial services — from Stripe Inc. to Chime Inc. to Plaid Inc. — have garnered valuations of more than $1 billion in recent years, according to CB Insights. Personal loans — a […].
Payments Source
DECEMBER 25, 2019
Two of Australia’s biggest banks, National Australia Bank (NAB) and Commonwealth Bank of Australia (CBA), are competing to be the first to commercially launch tap-on-phone contactless payments in the country.
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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
PYMNTS
DECEMBER 23, 2019
Visa is teaming up with TD Bank to introduce a new solution to ease money transfers between Canadian and U.S. accounts, Visa announced Monday (Dec. 23). . Powered by Visa Direct, the latest solution — TD Bank (US) to TD (Canada) Transfer — enables real-time transfers for Canadian users to move money from their U.S. TD Bank accounts quickly and easily. .
Bobsguide
DECEMBER 23, 2019
According to The World Bank, 1.7 billion people globally don’t have access to the most basic financial services. Without access to savings and credit, economic mobility is next to impossible - leaving the unbanked trapped in a cycle of poverty. This is a huge issue not only for developing.
Bank Innovation
DECEMBER 27, 2019
With the rise of Alipay and WeChat in Asia, and the growth of e-commerce and banking capabilities within platforms like Uber and Grab, banks and bank-type platforms are following suit by adding new functions. If 2019 saw the growth of new e-commerce solutions within mobile banking apps, 2020 may be the year banking platforms iron […].
CFPB Monitor
DECEMBER 26, 2019
The CFPB has issued its annual report on TILA, EFTA, and the CARD Act which covers activity in 2016 and 2017. The report provides brief summaries of the 2016 and 2017 enforcement actions brought by the CFPB and other federal agencies with relevant enforcement authority and provides data on reimbursements required as a result of enforcement actions brought during these periods.
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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.
PYMNTS
DECEMBER 24, 2019
Past is prologue. For the annual holiday exercise at PYMNTS (describing the 12 main or most exciting ways to pay in 2019), it is clear that what has happened this year will have big implications for the new decade. Here are the 2019 payment trends that made the biggest splash, and promise to make even bigger splashes in the new decade. #1: Voice — And Now, With Emotion.
BankBazaar
DECEMBER 22, 2019
As a parent, how do you teach your kids an important life skill – financial literacy? We’ve got some tips for you. Our nation is home to almost 17.5% of the world’s population, yet almost 76% of Indians do not have any knowledge of even the basic financial concepts, not even simple stuff like Credit Cards and interest rates. As a nation, we are yet to prioritise financial literacy.
Bank Innovation
DECEMBER 27, 2019
In 2019, a chorus of digital investment platforms branched out into checking and savings accounts. Throughout the year, Wealthfront continued on its trajectory of becoming a central hub for all of its customers’ financial needs. Co-founder and CEO Andy Rachleff said the company is on pace to automate all of its customers’ financial needs, a […].
Payments Source
DECEMBER 24, 2019
With the cost of processing business transactions remaining stubbornly high, a number of U.K. fintechs are working to facilitate Open Banking payments, a method which could soon enable consumers and businesses to make faster payments at a lower cost.
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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.
PYMNTS
DECEMBER 27, 2019
Daniel Pinto, the co-president and chief operating officer of JPMorgan Chase , told CNBC in an interview that 2020 will likely see sturdy economic growth of about 1.5 percent or 1.8 percent in the United States. That, he said, signaled an economy that is strong on consumer spending. He said things were not so solid in the realm of corporate spending as U.S. and China relations deteriorated this year amid a trade war and tariffs.
CFPB Monitor
DECEMBER 23, 2019
The OCC has appealed to the Second Circuit from the district court’s final judgment entered in October 2019 in the lawsuit filed by the New York Department of Financial Services seeking to block the OCC’s issuance of special purpose national bank (SPNB) charters to fintech companies. In the final judgment, the district court denied the OCC’s motion to dismiss and found that the term “business of banking” as used in the National Bank Act “unambiguously requires receiving deposits as an aspect of
Bank Innovation
DECEMBER 26, 2019
N26 is building out its perks ecosystem, adding partnerships with new brands at a rapid clip. This month, the company partnered with scooter rental company Lime and online travel platform Booking.com to offer added rewards to customers who transact using their N26 debit cards. “We’re very careful around using data the right way, but one […].
Payments Source
DECEMBER 23, 2019
The Federal Trade Commission has filed a lawsuit against FleetCor Technologies and its CEO Ronald Clarke, alleging they used deceptive practices that defrauded its business customers of hundreds of millions of dollars in fees and false claims about fuel savings.
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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.
PYMNTS
DECEMBER 27, 2019
Italy, which has one of the lowest rates of credit card use in Europe, may start to see that change soon as the government will give bonuses to those who use electronic payment services over cash. The government put aside $3 billion to finance the bonuses for the next fiscal year, according to The Financial Times. By offering the incentive, they hope to cut down on black market deals and fraud, they say.
CFPB Monitor
DECEMBER 26, 2019
The first round of amicus briefs have been filed with the U.S. Supreme Court in Seila Law. All of the amici that take a position on the Bureau’s constitutionality agree with the position taken by both Seila Law and the CFPB that the Bureau’s structure is unconstitutional. However, three of the amici take no position on constitutionality, with two of the amici addressing only the appropriate remedy if the Supreme Court concludes that the Bureau’s structure is unconstitutional and another of the
Matt Wilcox Pro
DECEMBER 26, 2019
Originally posted December 17, 2014 Last week, a friend of mine, also in marketing, posted this after fighting his way to live chat on Adobe’s website: “Adobe live chat is immensely helpful—once you get there. First you must prove your worthiness. You must navigate a maze, undergo a colonoscopy, pass a written exam on String Theory, [.
Payments Source
DECEMBER 22, 2019
PNC Bank has made it more difficult for its customers to use Venmo, and although competition plays a role, the bigger issue is the expanding risks financial institutions face when sharing data with third parties.
Advertiser: Data Robot
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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