Sat.Nov 10, 2018 - Fri.Nov 16, 2018

Cannabis Cos’ $4.7B In Cash-Based Taxes Overwhelm IRS

PYMNTS

The Internal Revenue Service (IRS) is paying $1.7 million to a Virginia company to handle “large cash payments for processing cannabis federal taxes.”. According to Quartz , the U.S. government collected approximately $4.7

Taxes 280

Account opening? Oh, 1-2-3. Easy as A-B-C. Not!

Chris Skinner

There’s nothing like a true story to bring a point home, so here’s my latest one. I’m starting a new venture. It’s a philanthropic thing, thing to do with banking, but because we are seeking sponsorship, we need to open a bank account.

INV Fintech Announces Sixth Class of Startups

Bank Innovation

INV Fintech, Bank Innovation’s sister accelerator, has announced its sixth accelerator class, which begins this week with six unique startups seeking to revolutionize financial services.

Branson isn’t in it for the money; entrepreneurs need to improve the world

Mobile Payments Today

Sir Richard Branson, the British billionaire entrepreneur, philanthropist and visionary, never outgrew his passion to change the world

198
198

Mastercard Leads Investment In Mobile FinTech Mobeewave

PYMNTS

Contactless payment company Mobeewave announced the closing of a $16.5 million Series B funding round, led by NewAlpha Asset Management, Mastercard and Forestay Capital.

Banks and Telcos? Two become one!

Chris Skinner

Twenty years ago, I worked on a strategy for the future of banking. My conclusion was that banks would merge with telecommunications firms and become hybrid institutions. Twenty years later, it hasn’t happened. But will it?

In-Car Commerce Startup Cargo Inevitably Adds Venmo for Payments

Bank Innovation

We’ve all been there. It’s midday, you’re in between meetings, you’re craving a bag of candy or a shot of one of those super-charged, "coffee-based" energy drinks to push through the afternoon, but you’re caught in traffic in your rideshare and short on time. Or perhaps not.

More Trending

Real-Time Payments Driving Real-Time Liquidity: Deutsche Bank

PYMNTS

Corporate finance executives seem to be readying for real-time payments, preparing to adopt faster payment capabilities and bracing for changes to their cash flow management strategies as a result.

Will Ripple replace SWIFT?

Chris Skinner

It’s a big week of FinTech in Asia with Money 2020 China and the Singapore FinTech Festival (SFF) all taking place in the same week. One of the headlines emerging from SFF was an interview with Brad Garlinghouse, CEO of Ripple.

How next-generation technologies are transforming governance, risk and compliance

Insights on Business

Bank Innovation Announces Demo Opportunity for Fintech Startups

Bank Innovation

It’s opportunity time for fintech startups. On March 12, 2019, Bank Innovation will host its ninth DEMOvation Challenge, in which fintech startups demo before a crowd of conference attendees in the hopes of earning their vote and walking away with fabulous prizes.

FLEETCOR May Be Nearing Western Union Business Payments Buy

PYMNTS

Western Union and FLEETCOR are nearing an agreement to sell WU’s business payments operations to the fleet payments firm, according to reports in PE Hub on Wednesday (Nov.

Direct Line: innovating InsurTech

Chris Skinner

At the conference I attended the other day, one speaker highlighted some InsurTech I’d not seen before but thought pretty cool. It’s a prototype service from Direct Line called Fleetlights.

Banks versus fintechs – Is it still the right question?

Mobile Payments Today

While the emergence of fintechs has challenged established financial service institutions, the collaboration taking place has blurred the some of the distinctions between the two

Alexa Collects Huge Amounts of Data. Does That Include Financial Information?

Bank Innovation

Alexa is listening. Capital One was famously the first major bank to integrate with Alexa, Amazon's virtual assistant that lives in Echo smart speakers as well as a growing array of other devices.

Nordstrom Breach Exposes Data On 76K Employees

PYMNTS

Nordstrom has suffered a data breach that exposed employee names, Social Security numbers, dates of birth, checking account and routing numbers, salaries and more.

Data 268

Legacy vendors are more of an issue than legacy systems 

Chris Skinner

I often find myself in weird or frustrating situations that I don’t know how to break.

System 199

IBM Sales Performance Management: Eliminating shadow accounting by establishing trust  

Insights on Business

To be a sales compensation manager (SCM) is a position that many would not envy. You are tasked with administering and executing a structured, and often complex, commission plan to sales agents.

3 Notable Fintech Funding Rounds in November

Bank Innovation

Venture-backed fintech funding saw a dip in value and deals globally in the third quarter, compared with the record high 2Q quarter, according to a CBInsights report, with a total of $5.64 billion raised across 375 deals. The report shows that the U.S.

Blockchain Believers Remain Bullish On B2B Payments Disruption: PayPie

PYMNTS

As the peaks and valleys of blockchain hype continue to rise and fall, more doubt has surfaced over the future of distributed ledger technology, particularly in the area of B2B payments.

The Finanser’s Week: 5th November – 11th November

Chris Skinner

The main blog headlines are … Teach children the things that machines cannot learn I often talk about teaching children to learn what machines cannot learn. Our system of education was created in the Industrial Revolution, and is based upon kids being stuffed with facts, stats and dates.

Maine 159

50% African Bankers cited Digital as number one priority

Mobile Payments Today

African banking customers are among the most enthusiastic adopters of mobile and digital channels. They prefer digital channels for transactions, servicing and sales

Mobile 138

Bank Innovation Announces Demo Opportunity for Fintech Startups

Bank Innovation

It’s opportunity time for fintech startups. On March 12, 2019, Bank Innovation will host its ninth DEMOvation Challenge, in which fintech startups demo before a crowd of conference attendees in the hopes of earning their vote and walking away with fabulous prizes.

Third-Party Data Breaches On The Rise In The U.S.

PYMNTS

Opus, the provider of global compliance and risk management solutions, announced Thursday (Nov.

Data 262

Things worth reading: 14th November 2018

Chris Skinner

Spanish ATM Survey Highlights High Demand for ATMs | Cash | Convenience | ATM | Trends

Mobile Payments Today

Despite contactless and biometric payments being on the rise, a recent survey of Spanish adults commissioned by Transaction Network Services has highlighted the strong demand for ATMs for immediate access to cash. Download your copy of this infographic to learn more

ATM 133

MUFG, Banco Bradesco to Use Blockchain for Cross-Border Payments

Bank Innovation

MUFG Bank and Banco Bradesco will use distributed ledger technology from Ripple, a San Francisco-based software vendor specializing in global real-time settlements, to create a new cross-border payment service between Japan and Brazil.

Payment Players Launch U.S. Faster Payments Council To Speed Up Payments

PYMNTS

A group of payment players announced Tuesday (Nov. 13) that they created a new organization, dubbed U.S.

Things worth reading: 13th November 2018

Chris Skinner

Things we’re reading today include … CYBG cancels digital bank deal with ex-Barclays chief Five ways banks are responding to the fintech threat Mark Carney ‘has damaged credibility of Bank of England’ Central bank independence – Is that even a thing? Rabobank explores sale of U.S.

Point-of-Sale(PoS) Trends in Middle East and Africa

Mobile Payments Today

In the Middle East, the POS is fast-evolving from a mere transaction acceptance device to an integral component of the customer's omni-channel journey

Trends 123

In-Car Commerce Startup Cargo Inevitably Adds Venmo for Payments

Bank Innovation

We’ve all been there. It’s midday, you’re in between meetings, you’re craving a bag of candy or a shot of one of those super-charged, "coffee-based" energy drinks to push through the afternoon, but you’re caught in traffic in your rideshare and short on time. Or perhaps not.

Robotics Process Automation Rakes In The VC Cash

PYMNTS

In a week of multiple nine-figure venture capital funding rounds, B2B FinTech has proved it plans to end the year on a high note.

Microsoft Seeks Patent For Buildings That Grow Like Organisms

CB Insights

After adding patent data to the CB Insights platform, we have uncovered some pretty wild ideas put forward by tech giants. This one from Microsoft is definitely up there. Top Tech Patent Data.

Data 106

The rise of Tokenized assets – the bridge between the old and the new capital markets

Daily Fintech

Most people in Blockchain whom I talk to, feel tokenizing real world assets is an amazing concept with huge potential. I have often thought that the real difference that tokenizing offered, as an economic model, is the ability to tag a number value to something abstract.

Platforms Going Modular as Banks Seek Differentiation and Efficiency

Bank Innovation

A recent report from research company Forrester encourages banks to abandon the traditional “buy vs. build” approach to creating banking development platforms in favor of a more modern, modular approach called “buy, build, extend and assemble.”

Bank Of England Plans Panel To Standardize Payments Messaging

PYMNTS

As the U.K. continues its move to adopt the ISO 20022 payments messaging standard, the Bank of England is reportedly planning to create a panel aimed at streamlining the adoption of the standard for more efficient payments in the country.

AR Surpasses VR In Earnings Call Mentions

CB Insights

Riding the hype of Facebook’s historic acquisition of Oculus, the virtual reality (VR) space saw a major uptick in corporate interest. In the years following, earnings call mentions of VR swelled, hitting a peak in 2016 with 140 mentions. Since then, however, hype has fallen.

Trends 106