Bank Innovation
JANUARY 2, 2020
As banks and startups on both coasts compete for new graduates, Fishers, Ind.-based First Internet Bank is using an internship program to keep talent in the Midwest. The program, which lasts a few months, sources talent from local universities. Participants are expected to take a hands-on approach and effect change at the institution. “When […].
Payments Dive
JANUARY 3, 2020
According to some economists, we've been experiencing an extended period of slow growth since the 1970s. What does this mean for the future of cash and ATMs? ATM historian Bernardo Batiz-Lazo explores the topic in his latest blog post.
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Abrigo
DECEMBER 30, 2019
Key Takeaways Using exam findings from 2019 can help strengthen your BSA program in 2020. Institutions must create a strong culture of compliance. Pillar violations see a big increase in the nature and seriousness of the violation. . Looking back to strengthen your BSA program. The decade is quickly coming to an end, so as we put 2019 in our rear-view mirror, it’s time for a fresh start with the new year and new decade approaching.
PYMNTS
JANUARY 3, 2020
Speed, scale and engagement — if you say it a few times, really get your vocal cords and mouth into the exercise, there’s a certain snap to those words put together like that. As well there should be — those are among the main traits set to define payments in the 2020s. We here at PYMNTS don’t mean to wear you down with all our anticipation about the new decade.
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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
JANUARY 2, 2020
Billionaire Jack Ma’s Ant Financial has applied for a digital banking license in Singapore, as China’s largest online financial platform steps up efforts to expand outside the mainland. Ant submitted an application to the Monetary Authority of Singapore for a wholesale license, which would allow it to serve corporate clients, the company said. “We look […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Independent Banker
DECEMBER 31, 2019
“Our resolution is to continue to bring you the very best support for your prosperity, growth and success in the new year.”. As we enter a new year, we’re filled with a sense of anticipation for everything that will unfold in the coming 12 months. We see a world full of potential, which is exactly what inspires us to set our New Year’s resolutions. However, it takes hard work to hold onto those goals.
PYMNTS
DECEMBER 29, 2019
Samsung disclosed that it will introduce an “artificial human” called Neon at CES 2020 on Jan. 7 that is totally different than its artificial intelligence (AI) assistant Bixby, Digital Trends reported. The limited information about Neon was shared on Samsung’s Twitter account, and includes an “Artificial Human” teaser in several languages with the tagline “Have you met an ‘artificial’?”.
Bank Innovation
DECEMBER 31, 2019
With the start of the new year, banks and fintech companies that do business in California will need to grapple with the new California Consumer Privacy Act (CCPA), which goes into effect Wednesday. Although banks’ handling of consumer data is already covered by the federal Gramm-Leach-Bliley Act (GLBA), banks are scrambling to figure out what […].
Payments Dive
JANUARY 3, 2020
Many banks have increased overall focus on user experience within their digital ecosystems and have added new functionality like peer to peer payments into their mobile apps to avoid disintermediation. However, the slow evolution puts banks increasingly at risk of disruption by their social media competitors.
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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
JANUARY 2, 2020
The winner of this next phase of development won't be an app. Instead, it will be almost invisibly woven into the DNA of the internet of things.
PYMNTS
DECEMBER 30, 2019
Silicon Valley startup Plus.ai is thought to be the first company to deploy a self-driving commercial truck to haul 40,000 pounds of butter roughly 42 hours cross-country from Tulare, California to Quakertown, Pennsylvania, ZDNet reported. The company’s Level 4 autonomous semi-tractor-trailer completed the 2,800-mile run for Land O’Lakes in under three days.
Bank Innovation
JANUARY 2, 2020
While large banks may not feel threatened by personal finance apps or digital-only challengers, they can learn from them on the digital onboarding front, a recent Gartner study observed. Gartner’s Digital IQ Index for 2019 surveyed 80 banking and financial brands, including national banks, regional banks, online banks and fintech startups. It examined 1,200 data […].
Payments Dive
JANUARY 2, 2020
It’s clear that consumers want more payment choices. And this extends to paying at the fuel pump. But while merchants, including gas station owners, are keen to give their customers new ways to pay, there are a number of challenges they need to overcome.
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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 Source
JANUARY 3, 2020
Despite the convenience wearable payments hold, there are still obstacles that remain. Some factors are cultural, such as cash usage, or even more deep seated in the human mind, such as concerns over security.
PYMNTS
JANUARY 2, 2020
The largest accounting firms – EY, Deloitte, KPMG and PwC – are investing billions of dollars in artificial intelligence (AI) and data technology products to change the industry in new ways, according to a report by Bloomberg Tax. The investment goes beyond the idea of just automating processes, moving into entrenched AI work, data analysis and tech training for all employees.
Bank Innovation
DECEMBER 30, 2019
Digital lenders will continue to pursue product diversification strategies as companies expand market share in the coming years, research from S&P Global Market Intelligence concluded. “Digital lenders are keen to innovate their product offerings to cater more specifically to different customer segments,” S&P noted in its 2019 U.S. Digital Lending Market Report.
Payments Dive
JANUARY 3, 2020
It’s important for banks to understand the demands of Gen Z consumers and plan ahead, in order to provide the services and capabilities that this next wave of consumers have already come to expect.
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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.
ABA Community Banking
JANUARY 2, 2020
Whether it’s buying a mortgage division in 2009 or building a diversified product set in an age of nichification, community bank CEO Luanne Cundiff zigs when pundits say to zag. The post The Community Bank Contrarian appeared first on ABA Banking Journal.
PYMNTS
DECEMBER 30, 2019
Gift returns have become a holiday tradition in the U.S., with consumers anticipated to send back a record $100 billion worth of unwanted goods bought this year between Thanksgiving and Christmas, The Financial Times reported. Last year returns from purchases made during the same period hit $6 billion. Online purchases are almost three times more likely to be returned than those in stores, leaving retailers with millions of items to sort.
Bank Innovation
JANUARY 2, 2020
U.K.-based payments startup Curve launched a cross-border in-app money transfer feature, with hopes of making a dent in the lucrative remittance market. The cross-border payments sphere, currently dominated by Western Union, is a field in which startups like TransferWise and WorldRemit are making inroads. Now, London-based Curve wants to attract more digital-native customers with an […].
Payments Dive
DECEMBER 30, 2019
Instant represents the new norm for payments. Find out how FSS Pay Connect can help PSPs seamlessly on board onto the world of Instant Payments and generate new revenue streams.
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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.
Payments Source
JANUARY 3, 2020
When cash flow stalls, buyers tend to pay slower while suppliers need money sooner, creating a stressed payments ecosystem, says AvidXchange's Dan Drees.
PYMNTS
JANUARY 1, 2020
Making predictions is simply irresistible at this time of the year – this year in particular. Tuesday marked not only the end of a year, but the end of a decade. Not just any decade, but one that has seen unprecedented levels of innovation touch nearly every industry segment and almost every corner of the world. Predicting the future, though, is risky business – which may explain why many predictions are wishy-washy or soon proved wrong.
Bank Innovation
DECEMBER 30, 2019
For Personal Capital, the path to scale is go broad. The company this month hit a milestone of $12 billion in assets under management, which it sees as evidence its digital and human approach is yielding results. “We give people a 360-degree look at all of their finances — it’s a holistic approach,” Porter Gale, […].
Ron Shevelin
DECEMBER 30, 2019
Our longstanding adherence to GAAP (Grievously Archaic Accounting Principles) is giving way to SAAP (Startup Accepted Accounting Principles). Here are some new metrics for the fintech era.
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.
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