Sat.Aug 10, 2019 - Fri.Aug 16, 2019

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The best FinTech startups in Europe

Chris Skinner

I received a long and lengthy article last week from Taylor Ryan, CMO at Valuer.ai (tryan@valuer.ai). The link provides a comprehensive article on European FinTech developments. It’s so good that I am happy to share it with y’all. Enjoy. THE BEST FINTECH STARTUPS IN EUROPE Government support for the financial … The post The best FinTech startups in Europe appeared first on Chris Skinner's blog.

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Payments fraud remains on the table as PSD2 delay takes hold

Payments Dive

As the payments industry works to get through an 18-month delay in implementing Strong Customer Authentication, retailers and consumers remain vulnerable as criminal fraudsters will likely seek to take advantage of the lull.

Fraud 348
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How credit startup Deserve aims to reach the ‘unscoreables’

Bank Innovation

When Kalpesh Kapadia moved to the U.S. from India as a student more than 20 years ago, access to credit was a major challenge for him. Without credit, buying car, a home or even signing a lease can seem out of reach. In an effort to solve this problem, Kapadia founded Deserve (formerly called SelfScore) […].

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Chatbot Company Sued By Delta Over Data Breach

PYMNTS

Delta Airlines Inc. has filed a lawsuit against a firm that powered a chatbot on its website. The lawsuit alleges that [24]7.ai Inc. did not have basic cybersecurity safeguards while it ran a service powered by artificial intelligence (AI) on the carrier’s website last year and in 2017, The Wall Street Journal reported. The suit claims that [24]7 waited over five months to tell the airline about the breach instead of immediately informing it.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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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A bank that runs accounts for just 50 cents a year

Chris Skinner

I recently attended a FinTech conference where Henry Ma, Vice President & Chief Information Officer of WeBank, presented an update of how the bank is faring in China. For those unaware, WeBank is the offshoot of WeChat Pay, WeChat and Tencent, and focsuses upon financial inclusion in China. This may … The post A bank that runs accounts for just 50 cents a year appeared first on Chris Skinner's blog.

More Trending

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How digital lender Earnest is charting its growth path

Bank Innovation

At $6 billion in refinanced student loans, digital lender Earnest is rapidly growing its reach. The seven-year-old company offers student loans and refinancing options, approving more than 50% of refinancing applications within one minute using its proprietary assessment tool. Clients can choose to customize their loan options, such as their monthly payments, and the student […].

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Citibank Sees Credit Card Charge Offs, Delinquency Rates Spike

PYMNTS

Citigroup reported that its July credit-card delinquency rate increased to 2.91 percent in July, up from 2.56 percent in June. The lender’s three-month average is 1.54 percent, with a net charge-off rate of 2.91 percent, an increase from 2.56 percent in June, reported Seeking Alpha. The three-month average is 2.74 percent. According to the SEC paperwork, the total delinquency amount in July stood at $36,401,205,805.

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FinTech’s lies, damned lies and statistics

Chris Skinner

There are lies, darned lies and statistics. I often quote numbers in my presentations and get pretty annoyed if they’re wrong. I also prefer to take official sources rather than estimates. So I quote that last year China processed USD$40 trillion (277 trillion yuan) of mobile payments, as reported by … The post FinTech’s lies, damned lies and statistics appeared first on Chris Skinner's blog.

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Merging digital and in-person services for the next generation of banking customers

Payments Dive

Banks and other financial services organizations will face new challenges in order to match mobile technology and in-person customer service to attract and maintain customers in the Generation Z era.

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The State of Automation in Financial Services 2024 Report

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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The Federal Reserve Is Too Late To The Real-Time Payments Party

Ron Shevelin

Community banks and credit unions are cheering the Fed's announcement to develop a real-time payments system. It's a hollow victory as it doesn't address the real challenges facing those financial institutions.

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How Chipotle Is Keeping Rewards Out Of The Hands Of Hackers

PYMNTS

Mobile order-ahead apps are becoming more and more popular among quick-service restaurants (QSRs), and many eateries are turning to loyalty and rewards programs to encourage customers to make return visits. They’ve been well-received by both QSRs and customers, with PYMNTS’ Restaurant Readiness Index finding that nearly 80 percent of both groups report having positive experiences with loyalty programs.

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Chris Skinner’s TEDx Talk

Chris Skinner

Well, I’ve always thought there’s a few accolades that would be good on the profile. Advisor to the White House, World Bank, World Economic Forum and United Nations all sounds good. Now I can add TEDx Speaker. I was invited to TEDx Athens this year and delivered a short (15 … The post Chris Skinner’s TEDx Talk appeared first on Chris Skinner's blog.

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Cash won't die in America — it's too darn convenient

Payments Dive

Cash is still king when it comes to buying things like a cup of coffee, pack of gum or a pint of beer in the U.S. Why? Because it's faster and often more convenient, especially when it comes to the little stuff.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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VCs building an 'ecosystem' through fintech investments

Payments Source

VCs have been devoting more attention — and funding — to U.K.-based digital remittance providers such as TransferWise, Revolut, WorldRemit and their smaller rival Paysend.

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Alleged CapOne Hacker Might Have Stolen Data From 30+ Companies

PYMNTS

Paige A. Thompson , who has been accused of hacking into Capital One ’s cloud and compromising the data of 100 million people, may have also hacked into upwards of 30 other companies, according to a Bloomberg report. Thompson was arrested in July and has a past that includes threatening the lives of others and saying she would commit “suicide by cop,” according to information filed in court on Tuesday (Aug. 13).

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Is transparency a good thing?

Chris Skinner

Who wants transparency when you can have magic? Do you watch The Crown? If not, maybe you should as Series 3 is about to begin with Olivia Coleman, a great actress. The first two series weren’t bad either, with Netflix spending $130 million on the season (around $10 million per … The post Is transparency a good thing? appeared first on Chris Skinner's blog.

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Achieving Compliance in Record Time - AADHAAR TOKEN GATEWAY

Payments Dive

India’s leading bank leverages FSS Aadhaar Token Gateway to tokenize 5M Aadhaar records and protect customer data against breaches. Learn more!

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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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Synthetic fraud is the most stealthy, and dangerous, payment crime

Payments Source

The difficulty of detecting synthetic fraud has caused it to quickly develop into the primary method of attack for criminals, says Monica Eaton-Cardone, COO of Chargebacks 911 and CIO of its parent company Global Risk Technologies.

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How Automation Helps Treasurers Weather The FX Volatility Storm

PYMNTS

The continuing uncertainty over Brexit and geopolitical volatility in the U.K. that has led to a depreciation of the pound are having widespread impacts throughout supply chains with touchpoints in the markets. Reports Monday (Aug. 12) in Catering Insight showcased some of the foreign exchange hurdles businesses face as a result of that uncertainty.

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The Finanser’s Week: 29th July – 11th August 2019

Chris Skinner

The main blog headlines are … Eyes wide open I sat through a soul-destroying meeting the other day. The meeting was with a C-level decision maker in a bank, and we were brainstorming. Ideas were flowing and, at the end of the ideation process, we went to see the C-level … The post The Finanser’s Week: 29th July – 11th August 2019 appeared first on Chris Skinner's blog.

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Shopping grinds to halt when Mexican banks unable to process cards over weekend

Payments Dive

Major banks in Mexico reported problems processing debit and credit card payments on Saturday. The problem stemmed from a Prosa data center outage.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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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The Fed's public option for faster payments does more harm than good

Payments Source

Were the Fed to develop its own payments platform, it would be expensive, duplicative, inefficient, and curtail development of real-time services, argues the National Taxpayers Union's Thomas Aiello.

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PayPal Wants To Capitalize On India’s Mobile Growth

PYMNTS

As PayPal reaches saturation points in Western markets, it wants to continue to expand internationally, especially in India, where the country’s 450 million mobile users make it an attractive target for retailers. The Financial Times is reporting that PayPal launched a domestic business in India in 2017, which allows for local and global payments in the country.

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Things worth reading: 13th August 2019

Chris Skinner

Things we’re reading today include … German financial sector ‘expects No Deal’ and wants no more concessions from EU Could devaluation of China’s yuan trigger the next financial crisis? | Larry Elliott Investment bank job cuts are now a one-way street Digital challenger banks stockpile cash at record rate African … The post Things worth reading: 13th August 2019 appeared first on Chris Skinner's blog.

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Easy DIY Home Renovation Tips On A Budget

BankBazaar

Home renovation and remodelling can be a costly affair. That’s why we’ve come up with easy, DIY ideas that you can use to give your home a facelift. Your home isn’t just a place you come back to every day. It’s your refuge on bad work days and where you can be at peace with yourself, away from the maddening noise of the outside world. If you’ve been feeling that your house is in desperate need of a facelift of late but don’t have the funds for it, here are some easy DIY tips for home renov

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.