Bank Innovation
MAY 25, 2016
Your next wallet may be your hand. Unless you’ve been on a Buzzfeed-less streak in the past few days, you’ve probably heard of a Buzzfeed news reporter’s mission to spend a month without a wallet — a journey that led him to implant an NFC-enabled chip inside his own hand. Tech reporter Charlie Warzel Read More.
Chris Skinner
MAY 25, 2016
I’ve been presenting a summary of Digital Bank and ValueWeb for a few months now. It is the story of the origins of moneykind and, as many have now heard the story, I thought it’s about time to share this on the blog. If you have half an hour free, then you can watch the presentation. It’s been filmed … The post The future of banking, money and finance [Presentation] appeared first on Chris Skinner's blog.
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Payments Dive
MAY 26, 2016
Mobile Payments Today sat down with Patrick Gauthier at the Shoptalk conference to discuss a wide range of topics about e-commerce, the checkout experience and what makes Pay with Amazon different from MasterPass, PayPal and Visa Checkout.
Abrigo
MAY 27, 2016
A credit memorandum is meant to summarize the information collected during the loan application and credit analysis processes. This large document bridges the gap between underwriting and funding, and it is a pivotal point in the life of the loan. A credit memorandum is used by the loan committee to decide whether or not to approve a loan and disburse funds to a borrower.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Bank Innovation
MAY 25, 2016
BBVA has its head in the cloud. Through a partnership with Red Hat, announced today, the global bank has designed and deployed an automated cloud based on Red Hat’s OpenStack Platform. The new cloud will allow the bank to have a “highly scalable” infrastructure to support faster digital services and applications Read More.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
MAY 24, 2016
John Costello, Dunkin’ Brands president, global marketing and innovation, doesn’t mince words when it comes to the state of retail and what retailers must do to survive and beat the competition.
PYMNTS
MAY 24, 2016
It’s no secret that, as fraudsters continue to evolve and increase the sophistication of their tactics, the fraud prevention landscape must do the same in order to stay one step ahead. In an effort to show some recognition to the “good guys” out there and the innovative efforts being made to disrupt their respective marketplaces, Gartner has identified the recipients of this year’s “Cool Vendor” recognitions.
Bank Innovation
MAY 26, 2016
Real-time international payments are becoming ever-so real. Banco Santander’s UK unit partnered with San Francisco-based settlement system Ripple to launch a pilot app to enable fast international transfers, the bank announced today. The app, currently being tested among 6,000 of Santander’s staffers, allows for next-day international transfers between the UK and 21 Read More.
Chris Skinner
MAY 25, 2016
I was just sent a press pre-release copy of The Pulse of Fintech, the quarterly global report on Fintech VC trends published jointly by KPMG International and CB Insights. The findings are quite interesting this quarter and show that, after a significant pullback in funding in Q4 2015, mega funding rounds have lifted quarterly investment … The post Who said Fintech is dead?
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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
Payments Source
MAY 23, 2016
Older consumers like chip cards better than young people, mostly based on a generational divide over security and speed rather than a predisposition to adopt new technology.
PYMNTS
MAY 26, 2016
When looking for evidence as to why in-store mobile payments haven’t taken off (a hot topic in Karen Webster’s column this week), there are a number of factors to consider but only one real guiding principle: certainty. Consumers need to know that they can use that method of payment where they like to shop and that it will work the same way each and every time.
Bank Innovation
MAY 24, 2016
The latest in the mobile wallet craze: Wells Fargo Pay joins the (already long) pipeline of mobile wallets. But Wells bets that its massive mobile banking userbase will drive wallet adoption. Wells Fargo Pay will launch later this summer, the bank said this morning, and will be integrated into its existing mobile Read More.
Chris Skinner
MAY 24, 2016
We heard the stories that set the context of the debate about identities and one specific comment stood out for me: Human traffickers first action is to destroy their victims identification papers = let’s get rid of paper identities #ID2020 @UN — Chris Skinner (@Chris_Skinner) 20 May 2016 Human traffickers’ first action is to get … The post The impossible dream: a digital identity for everyone appeared first on Chris Skinner's blog.
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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
Payments Source
MAY 23, 2016
When black market criminals use tighter security than global payment systems, you know the banking industry needs to wake up. Two-factor authentication (2FA) is now a standard practice on the ‘dark web,’ yet most banks require just one password to authorize transactions.
PYMNTS
MAY 26, 2016
The latest stats released by MasterCard give more optimism about the U.S. EMV adoption rate by merchants and issuers. And for today’s Daily Data Dive 5-in-1, PYMNTS has broken those stats down: 1.2 Million | The number of chip-active merchant locations as of April 30, 2016. 121 | The percentage increase in EMV-enabled merchant locations since the Oct. 1 deadline. 67 | The percentage of U.S.
Bank Innovation
MAY 26, 2016
Many banks have them. Many banks spend money on them. Nearly all of those banks ignore them. The “them” is text banking apps, and the degree to which they have been marginalized baffles me. Earlier this week, I asked a top innovation executive at one of this nation’s largest financial Read More.
CFPB Monitor
MAY 26, 2016
Barbara S. Mishkin. The CFPB has issued its May 2016 complaint report which highlights complaints about credit reporting and complaints from consumers in New Mexico and the Albuquerque metro area. The CFPB began taking complaints about credit reporting in October 2012. Credit reporting complaints were also the subject of the CFPB’s August 2015 monthly report.
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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.
Payments Source
MAY 25, 2016
For a customer to switch from a tried and true payment method to a new one, the provider must be able to offer a unique payment experience which offers concrete and obvious advantages like top-level security, unique rewards and unprecedented agility. For these reasons, the Merchant Customer Exchange's retailer-led mobile payments initiative CurrentC was bound to fail.
PYMNTS
MAY 25, 2016
If you think of the rise of corporate America over the last century, the function of the accounts payable department probably doesn’t come to mind as one of the main players. But something has happened over the last few years, according to Coupa VP of Strategy and Product Marketing Donna Wilczek: Technology has enabled AP professionals to become strategic and massively important to the success of any corporation, large or small.
Bank Innovation
MAY 26, 2016
Earlier this year, both Uber and Lyft drivers across the country experienced severe rate cuts, reportedly down by as much as 40%. That’s when Christopher David – an Uber driver himself at the time – saw an opportunity for a decentralized, driver-owned rideshare. Think of Arcade City as Uber on Read More.
Gonzobanker
MAY 27, 2016
GonzoBanker mothership Cornerstone Advisors holds a few company-wide meetings at the Scottsdale, Ariz., headquarters during the year. The most recent meeting was our educational event known as Gonzopalooza, in which we … well, the first rule of Gonzopalooza is “don’t talk about Gonzopalooza.”. Given that this is an event about understanding gritty industry trends and I am Cornerstone’s resident cyber-geek, I decided to give my colleagues a first-hand lesson on white-hat hacking.
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.
CFPB Monitor
MAY 26, 2016
Barbara S. Mishkin. The American Bankers Association has sent a comment letter to the CFPB challenging the Bureau’s use of the generic clearance process to conduct research in connection with its overdraft rulemaking. The letter was submitted in response to the CFPB’s request for approval from the Office of Management and Budget (OMB) under the Paperwork Reduction Act of 1995 (PRA) of an existing generic clearance “to collect quantitative data on effective strategies and consu
PYMNTS
MAY 27, 2016
The digital banking industry is heating up — and fast. That’s why, in the May edition of the PYMNTS Digital Banking Tracker™ , we’ve profiled 58 players from the FinTech and consumer banking space, including 10 additions to the Tracker: CashControl, CSI, Finex Banking Solutions, HelloWallet, Innofis, Kony, Money Lover, SilverWiz, The One Place Capital Limited and Q2 Software, Inc.
Bank Innovation
MAY 26, 2016
Bank of America said “No” to innovation labs last year. This year, while rivals JPMorgan Chase and Wells Fargo & Co. are bringing wallets to market, BofA is looking instead to the surrounding ecosystem. “We want to be in an open wallet ecosystem,” Hari Gopalkrishnan, client-facing platforms technology CIO at Bank of America Merrill Read More.
Bobsguide
MAY 23, 2016
Cyber attackers have gained sophistication, capability and bravado over the recent years, resulting in some complex and well executed whaling attacks. Last year a California-based networking technology firm, Ubiquiti Networks lost $46.
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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.
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