Bank Innovation
MAY 30, 2017
Banking consumers in Paris will soon be able to get a taste of “future banking” with a virtual reality-based app for retail banking, French bank BNP Paribas announced today. The app, which will be demoed at the Viva Technology Fair this June in Paris, allows users to access their bank transaction records as well as move through all […].
Chris Skinner
MAY 31, 2017
I saw a really interesting presentation in Kigali at the Dot Finance Africa FinTech Summit from Yasaman Hadjibashi, Chief Creation Officer with Barclays Africa (soon to be something else). She began with a discussion of the make-up of Africa: By 2050, it is expected that the population will double from 1.2 billion today to 2.4 billion people The average African is just 19.5 years old 2 out of 3 adult Africans have no access to banking 6% have formal credit access and 16% formal savings access In
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Payments Dive
MAY 30, 2017
With new technologies, it takes a while for regulation to catch up. Blockchain technology is no exception. While we are slowly beginning to see standards emerge, the reputation of blockchain is still marred by the criminal aspects of bitcoin.
PYMNTS
MAY 31, 2017
Visa announced Tuesday (May 30) that it is rolling out enhancements to its Verified by Visa service, a global solution designed to make online purchases more secure by helping ensure payments are made by the rightful owner of the Visa account. In a press release, the credit card company said that with the upgrade, financial institutions and merchants would be better able to authenticate consumers and reduce fraud on transactions made via a mobile or desktop browser, app or connected devices.
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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
MAY 30, 2017
Technology in the world of finance is advancing across the globe, but some countries are adapting faster than others. Places like China, the United Kingdom, and Israel are all currently in the midst of a tech boom, which is why it’s a good idea to keep an eye on some of the startups taking the charge. The […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
MAY 30, 2017
Airline revenue and payments professionals find common agreement around revenue opportunities that arise from deploying mobile payment capabilities.
PYMNTS
JUNE 1, 2017
The world is becoming an increasingly connected place such that internet connections aren’t just for phones and computers anymore – appliances, household systems, dog collars, hair brushes, cars and VR headsets are just a short sampling of the world of things looking for secure, consistent connections to the web. By most estimates there are 6.3 billion such devices as of today – by Gartner’s estimate, that number will have exploded to over 20 billion worldwide by 2020.
Bank Innovation
MAY 31, 2017
Good news: the majority of smartphone owners today use mobile banking, but they are still attached to their desktops and tablets. There is a rapid rise of a new segment of banking customers, dubbed omni-digital, according to a study by PWC released today. Those consumers use mobile apps or laptops, but don’t use branches or […].
Chris Skinner
MAY 29, 2017
During the discussions at Dot Finance Africa, there was a very interesting dialogue about the mobile network operators (MNOs), with panels featuring Airtel and M-PESA. It was interesting to hear them talking directly about how they focus upon the customer experience and their singular objective of convenience. Both MNOs talked about customer convenience.
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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 Dive
MAY 31, 2017
Empowering the customer to discover his inner-designer, Ralph Lauren Menswear invites shoppers to design and personalize the perfect polo shirt using the Bouncepad iPad floor stand.
PYMNTS
MAY 31, 2017
Complex supply chains have been the focus of blockchain innovators as of late as they explore how distributed ledgers can streamline and safeguard the transmission of paperwork and funds across borders and between companies. But the latest analysis from Chain Business Insights suggests supply chains will have to wait to see any positive disruption from blockchain.
Bank Innovation
JUNE 2, 2017
Chase Bank is tiptoeing into the world of cardless ATMs for consumers — catching up to the likes of Bank of America and Wells Fargo. The ATM has been a workhorse for the financial industry but as it crosses its 50th birthday, the ATM is facing competition from mobile phones and cashless transactions at the register. […].
Chris Skinner
JUNE 2, 2017
I’ve written a lot about Ant and Alibaba, but not so much Tencent, even though QQ social networking in China was a hot, hot topic a few years ago. It was the first social platform to launch its own currency and, with 300 million users, was quite interesting. Things have moved at a pace and ferreting around the internet this morning, I found this fascinating presentation by Matthew Brennan (you can get a PDF by emailing info@chinachannel.co).
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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.
Payments Dive
JUNE 1, 2017
At least one executive believes the recent stats are misleading.
PYMNTS
JUNE 1, 2017
The Consumer Financial Protection Bureau released its monthly complaint report Wednesday (May 31) that showed older consumers frequently report servicing problems with reverse mortgages, difficulties recovering money after financial scams, confusion around deferred interest credit cards and frustration when experiencing charges for unauthorized add-on products.
Bank Innovation
MAY 29, 2017
Customer data is (arguably) the most valuable asset in many industries, financial services included. A lot of data is being generated and collected on a daily basis thanks to social media, IoT, and online customer behavior (Upstart, for example, uses this method for its underwriting decisions). However, financial institutions still lack the analytical capabilities necessary […].
Chris Skinner
JUNE 1, 2017
I’m hearing murmurs of a financial crisis rising again. It’s just rumours and gossip, but sometimes there’s no smoke without fire. My forecast for another major global financial crisis was that it wouldn’t occur until the 2040s but, as James Dimon noted, a financial crisis generally appears around every seven years. Not a big one, but a crisis nevertheless.
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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.
Insights on Business
MAY 30, 2017
Today, the pace of change in the payments industry seems to accelerate exponentially, as customers increasingly demand instant, contextualised, and in some instances “zero-touch” payments (think “Uber”). At the same time, the regulatory environment is also evolving rapidly, with compliance to regulations such as the revised Payment Services Directive (PSD2) promising further industry-wide change.
PYMNTS
MAY 29, 2017
Though cannabis and its consumption can be a contentious topic, particularly between the U.S. Congress and the sitting attorney general, it is not terribly controversial to note that marijuana and its consumption has gotten much, much more mainstream. As of the most recent surveys, 60 percent of Americans support marijuana legalization. And that support’s breakdown by age cohort might surprise you some.
Bank Innovation
MAY 31, 2017
I recently sat down with the marketing team at Anthemis to talk about the changes happening in SME banking and the opportunity for innovation. Hi John, so why is SME banking getting so much attention at the minute? Well think of it like this: Traditional banks are built to service three main client cohorts; 1) Large Corporates, 2) High net worth individuals and 3) homogenous retail.
Chris Skinner
JUNE 2, 2017
Things we’re reading today include … Barclays sells £2.2bn stake in African business Lloyds bulks up in credit card market with £1.9bn takeover EU regulator fines Moody’s €1.24m for breaching credit rating rules Bank of England faces strike as workers vote on ‘contemptuous’ 1pc pay offer Peer-to-peer lender Zopa moves towards bank launch after raising £32m This week’s Economist: America’s community banks hope for lighter regulation Global monetary policy is not tig
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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.
Bobsguide
JUNE 1, 2017
Natallia Babrovich is a business analyst at ScienceSoft, a software development and consulting company headquartered in McKinney, Texas. Since 2013, her advanced focus has been IT solutions for the banking and financial services sector. Soon after being elected, Donald Trump signed an executive.
PYMNTS
MAY 30, 2017
As of yesterday, First Data has officially agreed to acquire rival payment processor CardConnect for around $750 million. The deal will reportedly be covered mostly in cash — and will include the repayment of CardConnect’s debt. This buy represents First Data’s biggest acquisition since going public in 2015. First Data handles, on average, $2.2 trillion in monetary transactions each year — meaning calling CardConnect a competitor is likely putting too fine a point on it, since the firm processe
Bank Innovation
JUNE 1, 2017
Innovating at the same time everyone else is innovating is hard, but U.S. Bank seems to be finding its way around. Headed by its fearless leader, Dominic Venturo, the bank’s Innovation Group has been at the epicenter of innovation in financial services across various tech sectors. The group has a lot going on at all […].
Chris Skinner
MAY 30, 2017
Things we’re reading today include … Aviva eyeing AI and big data in bid to become fintech firm How will the rollout of open banking affect me? Russian Company Pins European Bank Attacks on North Korea Spanish Banks Form New Blockchain Consortium How to get a UK banking or e-money license: the basics Bank Customers Don’t Want Robo-Advisers Making Financial Decisions For Them Treasurer’s office to be investigated over pre-budget bank tax leak.
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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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