Sat.Apr 01, 2017 - Fri.Apr 07, 2017

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Blockchain VC Fund Gets First Investors For New Ethereum-based ICO

Bank Innovation

The world’s first venture capital fund raised with digital coin offering has gained its first round of investors, including executives from Bloq and Civic. Blockchain Capital, the first venture capital firm to focus exclusively on DLT technology is offering digital tokens that represent a stake in the firm’s third fund. The tokens are held on the Ethereum blockchain […].

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The new payment future: 3 technologies leading the way

Payments Dive

Changes in consumer behavior continue to be rapid, disruptive, and largely driven by technology influences, such as mobile devices, big data, the cloud, IoT and machine learning.

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Sweden going cashless

Chris Skinner

For as long as I can remember, I’ve been hearing about a War on Cash. The war, as illustrated by India’s recent demonetization, is not on cash itself but on the illegal use of cash and, by association, the fraudulent creation of cash. Both fraudulent notes and coins along with large cash denominated amounts transferring between criminals, spurs the governments of the world to try to get rid of cash.

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Use Technology Vision for Banking as a guide to bolster traditional banking, before it’s too late

Accenture

Long ago, houses in northern China were constructed with windows made of thin, semi-transparent paper. To protect their belongings, the residents had to be good meteorologists to ensure that they pasted up the paper windows in advance of bad weather. Waiting until the rains arrived was too late to act. Storm clouds are gathering over the banking industry in the form of a fragmenting value chain, rapid migration to digital channels, encroaching financial technology firms, and open banking regulat

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

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WhatsApp Moves to P2P First, Businesses Come Next

Bank Innovation

Facebook-owned messaging app WhatsApp is beginning its trek into payments, using the UPI system to enable the feature in India. WhatsApp–which was acquired by Facebook in 2014 for $22 billion–has 1.2 billion monthly active users as of February 2017, many of whom are businesses interacting with their consumers, according to Facebook CEO Mark Zuckerberg. 200 […].

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A disruptive innovation appears

Chris Skinner

I was listening to a financier talking about FinTech the other day, and claiming that they are all sustaining innovations and not disruptive. They were referring to Clayton Christensen’s innovator’s dilemma discussions, where Professor Christensen points to different markets that were destroyed by disruptors. Those markets include the American car industry, destroyed by cheaper Japanese car manufacturing; the fixed line telephone firms destroyed by cellphone makers; the mainframe computer indu

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Technology Safeguarding The Age-Old Practice Of Financial Data Sharing

PYMNTS

The approach to financial services for consumers and businesses is quite vast, but across the spectrum, access to and management of financial data is a critical component. Today, APIs have become a popular way for banks to share this financial data with other services and have given rise to more possibilities for FinTechs in how they meet their customers’ needs — and more debate about the security of such facilitated information-sharing.

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Identity Fraud Hits Record High in 2016

Bank Innovation

More than 15 million people were affected by identity fraud in the U.S. last year, according to a recent study by Javelin Strategy & Research. The identity fraud incidence rate increased by 16%, a record high since the company began tracking identity fraud in 2003. Fraudsters successfully adapted to net two million more victims last year, compared to 2015. […].

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Infographic – Consumers Adopt Card Payments at Unattended Terminals

Payments Dive

As consumer behavior evolves, the ability to use payment cards in a range of unattended terminals is no longer simply a desire, but an expectation. This infographic reveals the results of a survey conducted among US, British and Australian adults.

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The 2024 Lenders Guide to Automating the Complex Loan

Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.

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If you liked it then you should have put a chain on it

Chris Skinner

I tweeted this the other day, and it got a lot of likes, so I thought I’d make it today’s blog title. We seem to have lost a lot of buzz on blockchain this year, even thought it’s still buzzing away as much as ever before. I recently was talking about how blockchain is great for IslamTech, as Islamic financial instruments have different degrees of compliance with Sharia Law, dependent upon the Imams who authorise the product.

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Warby of X: Using Quality To Support Online Mattress Buying

PYMNTS

Oftentimes the best ideas come from trying to solve a problem. And when that problem is a personal one, the drive to create an innovative solution that actually works is even stronger. For Marc Werner, founder and CEO of Nature’s Sleep , this meant making a mattress that actually helped him get a good night’s sleep, despite dealing with chronic neck and back pain.

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Amazon Cash: Just Like a Gift Card, But Mobile

Bank Innovation

Amazon announced its new Amazon Cash offering this morning, alongside a list of participating retailers which thus far include CVS pharmacy and Speedway. However, Amazon Cash seems to be less of a mobile wallet, and more of an alternative payment method for consumers, who lack traditional ways to pay. Unlike Square or PayPal or Apple versions, […].

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WWS Cash Management

Payments Dive

WWS Cash Management is an effective and efficient multivendor and multichannel solution by Auriga that allows banks to manage the end-to-end cash management process, increasing self-service availability and reducing the cash procurement costs for all cash points, inside and outside the branch (ATMs, ASDs, TARMs, TCRs).

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Is Your Current Card Platform Holding You Back?

Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

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You want the red or the blue cheese?

Chris Skinner

I often make a keynote presentation – about two or three times a week – and try to change my presentation as frequently as possible so that those who see me two or three times in a month – and it does happen – aren’t bored but, more importantly, to ensure that I’m not bored too. However, there is a downside to this which is that I can sometimes find a slide deck that I don’t recognise and then need to try and work out what to say.

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Uber Of X: goPuff Is The Uber Of Convenience Store Items

PYMNTS

Making a run to the corner store for one item, or even a few small items, can sometimes be a difficult feat to accomplish. Whether it’s lack of time in a busy schedule, transportation issues, proximity to a good store or just plain, “I’m going to stay home in my PJs and not do anything” laziness, convenience store runs can sometimes be more trouble than they’re worth.

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Western Union Customers Can Now Use Apple Pay for Money Transfers

Bank Innovation

The Apple Pay universe just keeps on expanding—this time, it’s to international money transfers. iOS users will now be able to use Apple Pay for their payments when sending money transfers with global payments provider Western Union, the companies announced today. Khalid Fellahi, senior vice president and general manager for Western Union Digital, noted in […].

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How will the IoT impact retailers

Payments Dive

Retailers not using Internet of Things technology may soon want to investigate its potential given big opportunities to boost the customer experience and save big bucks.

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3 Ways Managed Device Services Help Community Banks Cut Costs

Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se

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Things worth reading: 6th April 2017

Chris Skinner

Things we’re reading today include … Monzo, a UK digital-only challenger bank, granted full banking license China’s Army of Bank Tellers Retreats China curbs ‘Wild West’ P2P loan sector London and Brussels urged to agree Brexit transition deal to protect banks Banks and building societies snub Lifetime Isa launch U.S. regulator fines Credit Suisse unit, adviser over improper investments Co-op Group slumps to £132m loss after bank stake write-off.

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IP Best Cash Innovation Winner Eyes eCommerce Future

PYMNTS

At Innovation Project 2017 , Canadian payment solution company Payment Source snatched the top prize in the category of Best Cash Innovation for its in-person payment network Loadhub. PYMNTS caught up with CEO Trevor Cook after the fact to get the lowdown on what’s coming up next for the in-person payment network. Today, consumers can use Payment Source’s Loadhub service to top off a prepaid card or make a bill or collections payment in person.

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Is Startup Culture A Barrier to Bank Partnerships?

Bank Innovation

Fintechs are becoming more entrenched into the financial ecosystem, with the majority of banks now firmly on the side of collaboration, rather than conflict. More than 80% of financial incumbents anticipate developing more partnerships with fintechs in the next five years, according to PwC’s 2017 Global Fintech Report. However, working with fintechs is nothing like […].

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Giving Cardholders Control with Elan Mobile Services

Payments Dive

Elan Financial Services has launched a suite of mobile services that allows cardholders of issuer banks and credit unions to control how their debit cards are used.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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The Finanser’s Week: 27th March – 2nd April 2017

Chris Skinner

This week’s main blog headlines are …. GulfTech is the next big thing I’ve just returned from the United Arab Emirates (UAE) where there were a number of events. Just a few weeks ago, I was in Bahrain, talking at a conference about FinTech as usual. What struck me is the interest and excitement about FinTech in both … GulfTech is a challenge due to diversity I took part in a webinar the other day, focused upon the developments in digital banking in the Middle East.

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Magento Commerce Launches B2B Digital Cloud

PYMNTS

Magento , an eCommerce platform, announced on Wednesday (April 5) that it will now support B2B capabilities through the launch of its Magento Digital Commerce Cloud for B2B offering. The digital cloud for B2B companies will handle the complex B2B commerce requirements in order to empower manufacturers and distributors to grow and enhance their businesses.

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How Much Does It Cost to Shift Customer Behavior?

Bank Innovation

Mobile wallets have failed so far because they haven’t offered customers a strong enough incentive to use them versus cards. The exception, Starbucks, offers free coffee, but it did that with its gold cards too. LevelUp, into which Chase poured $10 million in December, offers its loyalty-heavy solution to merchants as well — spend $50, […].

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How close are we to a cashless society?

Bobsguide

Deutsche Bank’s Chief Executive, John Cryan, predicted at Davos last year that cash probably wouldn’t exist in ten years’ time. Sweden, where only 20% of all consumer payments are now made in cash, appears to be at the forefront of the movement to phase out notes and coins.

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5 Things Lenders Need to Know About Portfolio Loans & Their Documentation

Discover the key benefits of portfolio loans and learn how to streamline your lending process with our infographic, "5 Things Lenders Need to Know About Portfolio Loans & Their Documentation." Find out how portfolio loans can maximize borrower potential by consolidating multiple properties under a single loan, reducing paperwork, and lowering closing costs.