Sat.Jul 29, 2017 - Fri.Aug 04, 2017

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FinTech and the world of investment banking

Chris Skinner

Some people talk about FinTech disruption and how payments and banking is being attacked and unbundled by start-ups, but we often look at banking too simplistically. Global banks and investment banks are far more complex creatures than their high street counterparts, which is why we’ve seen far less disruption in … The post FinTech and the world of investment banking appeared first on Chris Skinner's blog.

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Bitcoin Cash Grabs Headlines, But Ripple Has Banks’ Attention

Bank Innovation

Banks are paying attention to digital tokens along with the rest of the financial world, but some tokens might be more important to banks than others. But coins and forks rule the news these days. With the recent arrival of new cryptocurrency Bitcoin Cash, which has split off from the bitcoin blockchain and is currently […].

Bitcoin 334
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What more can mobile banking do for consumers?

Payments Dive

Mobile remote deposit capture is not the trendy feature it once was for banks. It's expected. Today, consumers desire a way for banks to help them make the best decisions with their money.

Mobile 305
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Error-free work - Is it time to move past the spreadsheet?

Abrigo

What do we do with all of these spreadsheets? The above question is being asked by financial managers at banks and credit unions as the implementation of the FASB’s current expected credit loss model ( CECL ) approaches. So, where did the use of all of these spreadsheets (and the dependence on them) come from? Over the past 40 years, computation tools used by professionals in financial institutions have evolved from pencils, erasers and 20lb electrical calculators to robust, web-based software m

Software 150
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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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Jobs of the future

Chris Skinner

There are lots of reports of robots taking jobs from humans, and our fear for the future world of no work. One paper from researchers at Oxford University predicts that 47% of American jobs are at “high risk” of computerisation over the next two decades. Another research report issued in 2015 … The post Jobs of the future appeared first on Chris Skinner's blog.

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A different look at Visa's supposed war on cash

Payments Dive

Initially hailed as innovative, it appears that Visa's 'war on cash' is in reality a war on merchant profitability and customer payment choice. However, a 'war on plastic' is a promising business case that could actually be sold to merchants.

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B2B Startups Lead FinTech Investment Rebound

PYMNTS

Good news for FinTech startups: in the U.S., venture capitalists have been boosting their activity in the market, with Q2 FinTech investments regaining its strength, according to analysts at KPMG. The firm’s Pulse of FinTech report for Q2 2017, released this week , found overall FinTech funding in the U.S. increased to $2 billion in the quarter, up from just $500 million in Q1.

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What will we do when we don’t need to work?

Chris Skinner

I was trying to find someone who was optimistic about the future age after robots. Most are pessimists, and I’ve referred to them a few times now. They think the world is coming to an end and that mankind will have nothing to do when the robots do everything. Can … The post What will we do when we don’t need to work? appeared first on Chris Skinner's blog.

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3 Startups Join INV Fintech Class as Associate Members

Bank Innovation

INV Fintech, this site’s sister accelerator that is run in association with Fiserv, is announcing three new members of the current class. These companies are joining at the Associate level, and will go through a slightly less intensive program than the class’s full members, but will still interact with Fiserv, the partner financial institutions, and […].

Fintech 290
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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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Mobile Payments Today: July's best reads

Payments Dive

It's time for a look back at July's most-read articles and blog posts on Mobile Payments Today.

Mobile 230
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In A Ransom DDoS Attack, It Doesn’t Pay To Pay

PYMNTS

Cyberattacks have become so common that criminals don’t even have to launch one in order to get victims to pay up; all they have to do is threaten. The distributed denial-of-service (DDoS) attack has made a massive resurgence in Q2, particularly Ransom DDoS, or RDoS. In an RDoS attack, cybercriminals threaten to launch a DDoS attack on a victim’s critically important online resources if they don’t pay up.

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When will we pass the Turing Test?

Chris Skinner

The Turing test, developed by Alan Turing in 1950, is a test of a machine’s ability to exhibit intelligent behaviour equivalent to, or indistinguishable from, that of a human. Although there had been numerous claims that Eugene Goostman passed the Turing test, that simply is not true. Let us just say that he cheated the test in a lot of ways (further reading).

Google 196
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Adyen is Not Interested in a U.S. Banking License…For Now

Bank Innovation

Fintech company Adyen won’t be going to the OCC (Office of the Comptroller of the Currency) for a U.S. banking charter anytime soon, even though the payments company procured a pan-European banking license less than two months ago. “We’re happy working with our banking partners in the U.S. markets,” Luke Salinas, senior vice president of strategy, told […].

Strategy 287
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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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Millions of merchants not ready for fast-approaching security deadline

Payments Source

Plenty of U.S. merchants still working to complete their migration to EMV now have another high-pressure technology hurdle to worry about: Most are still using a core transaction security protocol set to expire in the next 11 months and if they don’t take appropriate action they’ll be unable to process transactions.

Security 107
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Why Businesses Are Surprisingly Already Ready For The Cashless Future Today

PYMNTS

When Visa announced its Cashless Challenge a few weeks ago, it obviously hoped to make some news. After all, directly incentivizing 50 food-focused small- and medium-sized businesses (SMBs) to opt out of accepting cash entirely — with $10,000 to help pay for technology upgrades — is definitely a newsworthy way of waging the war on cash. So, although the big interest in the program was not entirely surprising to Visa’s global head of product, Jack Forestell, the depth of that sector’s interest in

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The US dollar is no longer American

Chris Skinner

I had an interesting experience in Lebanon recently, where the accepted currency is the Lebanese pound or the US dollar. In fact, the US dollar is preferred as, since the civil war in the country, they Lebanese pound has been tied to the US dollar at 1500 Lebanese pounds per … The post The US dollar is no longer American appeared first on Chris Skinner's blog.

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USAA Rolls Out Conversational Alexa Skill Using Clinc AI

Bank Innovation

Voice banking without voice commands? Welcome to the new USAA Alexa skill. USAA members will now be able to bank via Amazon Alexa, skipping all of the typical command memorization necessary for learning a new skill, thanks to conversational artificial intelligence built out by AI platform Clinc, the companies announced today. Rather, USAA members will […].

Company 284
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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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Female Leaders in Singapore from the Tech Startup Community

Let's Talk Payments

With close to 400 FinTech and InsurTech startups in Singapore, the country has become a brew pot for innovation. Spearheading this wave of innovation are some very inspirational women. In.

Community 111
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Payworks Partners With Alipay In Europe

PYMNTS

Payworks, a provider of point-of-sale (POS) payment infrastructure, announced news on Thursday (Aug. 3) that its payment gateway technology will be supporting the integration of Alipay, the mobile payment provider operated by Ant Financial Services Group, for mobile payment providers and Chinese consumers across the EU. In a press release, Payworks said to increase the speed of market penetration in Europe, Alipay partnered with Payworks for technology support.

Mobile 135
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Things worth reading: 2nd August 2017

Chris Skinner

Things we’re reading today include … Goldman plans to expand online bank to Europe: treasurer Take Your Time, Bank of England Bank of America Files for 3 New Blockchain Patents Bank of England staff strike over pay for first time in more than 50 years Deutsche Bank backs the City … The post Things worth reading: 2nd August 2017 appeared first on Chris Skinner's blog.

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Which Regulator is Next after SEC Eyes ICOs?

Bank Innovation

Now that the Securities and Exchange Commission (SEC) has established that it will keep an eye on ICOs, the question remains: will other regulatory bodies follow? Early last week, the SEC released a report iterating that the DAO violated the law for failing to register its cryptotokens as securities. The SEC’s statement is its first […].

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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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PSD2 & GDPR Compliance: How New Regulations Affect the Digital Financial System in Europe

Let's Talk Payments

PSD2 is the directive that is deeply changing the financial system, especially in the payment services segment. It not only affects banks and payment service providers but also companies that.

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NEW REPORT: Mastering mPOS At The British Open

PYMNTS

With mPOS technology, consumers around the world can pay for purchases with a tap on their phones, and businesses can accept payments from practically any payee in any country through a mobile device. In the August edition of the mPOS Tracker™ , PYMNTS explores how mobile devices are making an international impact. The Tracker also looks at how mobile just leveled the playing field for golf fans, metaphorically, by facilitating concessions delivery service at the recent British Open Championshi

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The Finanser’s Week: 24th July – 30th July 2017

Chris Skinner

This week’s main blog headlines are … Is FOMO driving you MADD? A long time ago, a man would go to work whilst the woman would stay at home. Thanks to a generation of change, women and men now work and no one has to stay at home. A long time ago, work was a place you … ANZ and Deutsche Bank tell it like IT is I was struck by some commentary with John Cryan, the CEO of Deutsche Bank, over on Bloomberg.

Fintech 177
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Virtual Branches Catch the Eye of the Biggest Banks [SPONSORED]

Bank Innovation

A brand new chapter of the bank transformation that has been going on for years is here, and it’s about virtual branches. Standard Chartered recently performed the biggest launch in history , with 9 countries and 5 million customers, and Citibank’s launch is expected to reach customers across 16 countries. But what exactly sets a virtual branch […].

Branding 267
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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.