Bank Innovation

JUNE 8, 2016

Taking a leaf out of leading US consumer finance player Affirm’s book, listed Australian digital retail finance company zipMoney (ASX:ZIP) has notified the market it plans to acquire personal finance app Pocketbook. The acquisition will see the app ‘pocket’ AU$7.5 million, with $6.0 paid upfront and $1.5 million deferred, subject to performance milestones. zipMoney will… Read more zipMoney to acquire personal finance app PocketBook.

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Retail US Marketing Company 239

Chris Skinner

JUNE 8, 2016

Whilst almost 500 banks failed in the USA between 2008 and 2012, only three new banks opened. Only three new banks have opened in the United States since 2010. Before the financial crisis, over 100 banks set up shop each year, on average, according to data from the Federal Deposit Insurance Corporation, the agency that approves … The post America’s banking regulations strangle innovations appeared first on Chris Skinner's blog.

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Regulation Innovation United States America 207

Payments Dive

JUNE 9, 2016

Marc Castrechini, vice president of product management at Cayan, discusses how the industry should be talking about multichannel instead.

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Industry Management 224

PYMNTS

JUNE 7, 2016

A new mobile app from identity theft protection company IDShield was released on Monday (June 6) and aims to help consumers by putting information and control in their hands when it comes to safeguarding against identity theft threats. IDShield said its all-new app will feature up-to-date and comprehensive identity monitoring information, as well as access to a private investigator if issues do arise for a user.

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Tools Mobile Company Report 156

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

JUNE 8, 2016

In what is believed to be a first, Dyme has developed a prototype of a Facebook Messenger bot for financial services. Dyme, the text banking startup, gave Bank Innovation a sneak peek at the savings chatbot, which mirrors Dyme’s text application. Dyme is one of six startups in the spring Read More.

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Innovation social media Marketing Cards 219

Payments Dive

JUNE 10, 2016

In April, the Federal Financial Institutions Examination Council released updated security guidelines for mobile banking and payments. Michael Lynch, the chief strategy officer for InAuth, highlights some important parts of the new document that banks need to keep in mind going forward.

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Guidelines Security Mobile Strategy 190

PYMNTS

JUNE 7, 2016

Hear the words “factory floor” and the image of assembly lines and the manufacturing of physical products immediately comes to mind. Not anymore – or at least not when the Visa Commerce team uses those words. The Visa team, according to SVP of Issuer Processing, Todd Brockman, has been hard at work on the “apps factory floor” creating the Visa Digital Commerce App , an issuer-branded mobile commerce solution that will allow financial institutions to customize and deliver their own branded mobil

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Tools Mobile Branding Cards 120

Bank Innovation

JUNE 8, 2016

After a yearlong absence, Bank of America’s mobile app is now available on Windows mobile devices. BofA announced last year that starting “early” March 2015 it will no longer support its mobile app on Windows 10 Mobile, Windows Phone 8.1, and Windows Phone 8 mobile devices, suggesting customers access their accounts online. The app Read More.

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America Mobile Online Innovation 215

Chris Skinner

JUNE 7, 2016

Things we’re reading today include … Bank competition probe ‘a squandered opportunity’ A million British households are now millionaires – even excluding their houses US warns banks of Swift hacking threat Guy Hands sues Citigroup again over EMI World’s wealthiest people just got 5.2% wealthier PayPal wants to be more than a last resort Will … The post Things worth reading: 8th June 2016 appeared first on Chris Skinner's blog.

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US 185

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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

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Payments Dive

JUNE 6, 2016

Mobile Payments Today sat down with Vish Shastry at the Shoptalk conference to discuss Visa Checkout and where the card network plans to take it in the coming year.

Branding 195

Branding Conference Mobile Cards 195

Bobsguide

JUNE 6, 2016

A vast quantity of structured and unstructured data is now generated and mined in the financial industry. It is analysed by firms as well as regulators to provide insight. For those that do it well, the business value they can derive can confer a competitive advantage. Yet, big data in the regulated.

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Big Data Data Conference Regulation 89

Bank Innovation

JUNE 7, 2016

Many finanical services professionals think blockchain can be the solution to their problems. A Texas startup thinks blockchain itself is problematic, and launched a service yesterday to improve upon it. Texas-based Swirlds announced a blockchain alternative called Hashgraph yesterday, opening it up for public download and use by developers. To Read More.

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blockchain Texas Innovation Technology 210

Chris Skinner

JUNE 5, 2016

Friday’s blog was all about bank innovation labs and structures. A serious and committed undertaking this time around, with many experimentations and proofs of concept taking place, especially around blockchain. Great. The thing is that as I walk into these hallowed places of bank sponsored creation, it feels like a very formal version of a FinTech … The post Keep Calm and Innovate 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

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Payments Source

JUNE 8, 2016

For the first time, retailers are facing sizable costs for counterfeit transactions but still not taking measures to mitigate their own risk, raising the question – after six months, how effective is EMV in the U.S.?

Retail 81

Retail Analytics 81

Bobsguide

JUNE 7, 2016

After news that the Financial Conduct Authority is launching a regulatory sandbox, it poses the question of whether or not financial technology should be regulated and in turn, increases concerns about whether money management systems should be considered financial products or technology. A safe.

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Fintech Financial Technology Regulation System 88

Bank Innovation

JUNE 9, 2016

Marketplace lending space has been through a rough patch lately. Has that affected the volume of investment? Absolutely, but not drastically, according to Pat Grady, partner at Sequoia Capital. “I wouldn’t call it a drought, but more calling off the herd,” he said at the Future of Fintech Conference yesterday. Read More.

Lending 205

Lending Conference Capital Fintech 205

Chris Skinner

JUNE 9, 2016

I get all sorts of crappy press releases from public relations managers who are eager to see me prostitute my blog for them. Rarely would I post their stuff here unless it was seriously interesting or I feel very lazy or both. You can decide which category this fits into: first direct identifies the factors … The post The financial customer of 2025 (according to #firstdirect) appeared first on Chris Skinner's blog.

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Management Digital Banking Fintech 177

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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.

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Payments Source

JUNE 7, 2016

A query from one of Malauzai's bank software clients, Redding Bank of Commerce in California, helped spark an idea to create a wallet app that's geared toward small businesses that have also not yet made the leap to mobile commerce.

Mobile 78

Mobile California Software Technology 78

Bobsguide

JUNE 6, 2016

Could 2016 be the year of the blockchain boom? With reports of banks and bankers actually using the technology, there is a chance that negative attitudes towards blockchain could be dispelled in the near future. Dominant fintech startup SETL announced last week that they have used this technology.

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blockchain Fintech Technology Report 86

Bank Innovation

JUNE 6, 2016

Two months in, Lenny – millennial-focused mobile lending app – is ready to hit the market with new budgeting and billpay products. Launched mid-March, Lenny’s goal is to help millennials build credit scores while still in school, with loans up to $10,000 and 0% interest (if paid on time). So far, Read More.

Lending 204

Lending Millennials Mobile Marketing 204

Chris Skinner

JUNE 5, 2016

Things we’re reading today include … Emirates NBD to create digital-only bank to target young customers McKinsey’s secret $5bn fund in spotlight Hackers target Mark Zuckerberg accounts Elizabeth Holmes’s fall from hero to zero highlights problems of rich lists Bank of England in preparations for potential Brexit British voters succumbing to ‘impulse, irritation and … The post Things worth reading today: 6th June 2016 appeared first on Chris Skinner's blog.

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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.

Marketing

Payments Source

JUNE 6, 2016

U.S. card issuers lose $10.9 billion each year to card fraud, according to research released Tuesday by LexisNexis Risk Solutions.

Fraud 83

Fraud Cards Analytics Security 83

Bobsguide

JUNE 9, 2016

Pac-Man was never a very realistic game. He would eat and eat and eat but never get any bigger. The Merchant Acquiring game is very much like a realistic version of Pac-Man. If Acquirers and ISOs don’t “acquire” merchants, they’ll be eaten. But make no mistake, the ones.

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Bank Innovation

JUNE 8, 2016

Payments network Visa announced a private label digital commerce app yesterday, noting that more than 40 banks have already implemented it, or are soon to. Visa has said it will go to war with PayPal in ways “you’ve never seen before” — and it turns out one of those ways may Read More.

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Payments Samsung Apple Online 200

ZootBlog

JUNE 8, 2016

In July 2015, the Department of Defense (DoD) passed major changes to the Military Lending Act (MLA) with target compliance dates of October 3, 2015 and October 3, 2017. The 2017 date applies only to credit cards. The MLA’s overall goal is to prevent predatory lending against U.S. active military service members and their spouses and dependents. More specifically, the MLA caps overall Military Annual Percentage Rates (MAPR) at 36% and requires creditors to make certain written and oral disclosur

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Lending Regulation Taxes Security 72

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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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