Sat.Feb 24, 2018 - Fri.Mar 02, 2018

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ACH Is a Sieve of Fraud That Needs to Be Fixed

Bank Innovation

EXCLUSIVE – This month, my company, Royal Media, was robbed. This was a civilized heist, mind you. No guns were involved, no one got hurt?—?in fact, not a sound was even heard. It was a faceless theft, as well. Its discovery started with an innocuous question by a colleague: “Do you have a Walmart credit.Read More.

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9 out of 10 blockchain trials go nowhere

Chris Skinner

I just read an interesting new report from Deloitte about blockchain. They tracked the history of 86,034 blockchain projects hosted on GitHub since 2009 to pull out “key lessons” on where the blockchain industry is going and its long-term prospects. Here are some of the highlights: More than 26,000 blockchain … The post 9 out of 10 blockchain trials go nowhere appeared first on Chris Skinner's blog.

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How financial services will change in the next era of human-machine partnerships

Payments Dive

Mark Baunach, global financial services consulting industry leader at Dell EMC, discusses how blockchain and emerging technologies will reshape the financial services industry over the next decade.

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HSBC Ready To Test Blockchain Trade Finance

PYMNTS

Banking and financial services firm HSBC says its blockchain-based trade finance solution is ready to launch — in pilot phase, at least. According to Wednesday (Feb. 28) reports by the Global Trade Review , the bank’s senior innovation manager, Joshua Kroeker, held a media call and announced that after developing the trade finance solution for about two years, HSBC is “confident enough to actually do a live transaction” using its blockchain technology.

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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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10 Most Innovative CEOs in Banking 2018

Bank Innovation

EXCLUSIVE – Everything in banking is changing: fintechs are solidifying their place in the financial ecosystem, as challenger banks, online lenders, and blockchain technology providers become essential functions to keep the industry moving forward. As the innovations of these startups seems set to continue, 2017 seemed to mark the year that banks set themselves with.Read More.

More Trending

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MasterCard strengthens ties to mobile network operators

Payments Dive

The Purchase, New York-based card network has already helped MNOs such as Vodafone Ukraine, Digicel Group in the Caribbean, Viettel Telecom in Vietnam and Taiwan's Chunghwa Telecom to roll out various services related to digital payments.

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FLEETCOR And Ripple In Payments Pilot Program

PYMNTS

Commercial payments provider FLEETCOR Technologies, Inc. announced news on Thursday (March 1) that it has entered a pilot program with enterprise blockchain solution firm Ripple and Cambridge Global Payments , the international payments provider focused on B2B and owned by FLEETCOR. The companies said in a release that under the terms of the agreement with Ripple , Cambridge — which processes more than $20 billion in B2B cross-border payments annually, across 13,000 business clients — will pilo

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Leveling the Playing Field: Cloud as the Enabler of Innovation in Financial Services

Bank Innovation

The words “fast”, “affordable”, and “hassle-free” are seldom used in conjunction with financial products. However, broader trends are revolutionizing how companies deliver new experiences and engage with customers across the industry. Today’s business differentiators, such as the use of chatbots to automate interactions with customers, are possible due to the advances in technology provided by.Read More.

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A unified model of banking the unbanked

Chris Skinner

As mentioned yesterday, I always get a new take on life when I come to Africa, and this visit is no exception. I’m chairing conferences where a range of start-ups, telco’s and banks are talking about their experiences and views. Halfway through the dialogue, a lightning bolt cracked through my … The post A unified model of banking the unbanked appeared first on Chris Skinner's blog.

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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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Mobile Payments Today: February's top stories

Payments Dive

It's time for a look back at last month's most-read articles and blog posts on Mobile Payments Today.

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NACHA And IFX Forum Join Forces To Boost API Development

PYMNTS

NACHA and the Interactive Financial eXchange (IFX) Forum have announced plans to combine their organizations to improve the development of standardized Application Programming Interfaces (APIs). The partnership, which is expected to be finalized at the end of the first quarter, will speed up the creation and rollout of standardized banking APIs. “The powerful combination of IFX Forum’s established leadership in financial industry standards, along with additional technical expertise in the area o

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U.K.’s Virgin Money to Launch Digital Challenger Bank

Bank Innovation

Make way for a new digital challenger bank. U.K.-based lender Virgin Money said it will offer current accounts and savings products. In its earnings call today, Virgin Money said it will begin testing these products later this year and has already spent £38.3 million ($53.3 million) over the past year developing this digital bank. According.Read More.

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Apple Pray: why has Apple Pay failed?

Chris Skinner

I was talking the other day to a colleague about the phenomenon in Asia, India, Africa and South America taking place with mobile payments and the lack of take-up in the USA. Why is this, I wondered? Then got my answer, although it isn’t a singular factor but a combination … The post Apple Pray: why has Apple Pay failed? appeared first on Chris Skinner's blog.

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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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Mobifone case study: how does Google Play carrier billing impact telco revenue?

Payments Dive

In our latest case study with the leading Vietnamese telco Mobifone, we find that this is not the case. Download the case study and find out how launching carrier billing for Google Play increased Mobifone's ARPU by 130%!

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Feds File Charges In International Fraud Scheme Involving A Picasso

PYMNTS

For their alleged roles in a massive stock fraud and money laundering scam involving a Picasso, the U.S. Department of Justice has criminally charged 10 defendants. Prosecutors named U.K.-based Beaufort Securities Ltd and two of its managers, among others, in the case, according to news from Reuters. Prosecutors said Beaufort and managers Peter Kyriacou and Vinesh Canaye manipulated the prices of U.S. stocks through “pump-and-dump schemes,” while hiding their ownership in the companies.

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Mastercard’s First Foray in the Canadian Insurance Payments Space

Bank Innovation

EXCLUSIVE – Mastercard has teamed up with cloud-based payment processor Dream Payments to provide Canadian insurance group FairFax Financial digital disbursements capabilities. The offering is a first of its kind in the Canadian insurance market and speaks to the Mastercard’s larger strategy of digitalizing payments that are traditionally not digital like check payments, Zahir Khoja,Read More.

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Mark Carney slams bitcoin

Chris Skinner

The Governor of the Bank of England, Mark Carney, has slammed the rise of cryptocurrencies insisting the costs to mine bitcoin is ‘enormous‘ and that the energy consumption is worrying, declaring current costs of electricity consumption used to mine the coins are “double the electricity consumption of Scotland.” The UK’s leading … The post Mark Carney slams bitcoin appeared first on Chris Skinner's blog.

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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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Why GDPR and PSD2 are huge opportunities and not threats for banks

Bobsguide

This year, two new pieces of legislation will come into force that will transform data management within UK banks. The first, the Payment Services Directive (PSD2), sets out to create a new era of openness; requiring banks to allow Third Party Providers (TPPs) direct access to customer payment.

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DICK’S Sporting Goods Says It’s Done Selling Assault Rifles

PYMNTS

DICK’S Sporting Goods — one of the United States’ major gun retailers — has decided it no longer wants to be in the business of selling assault-style weapons like the one used in the Parkland, Florida, high school shooting. While the retailer is limiting its stock, DICK’S has also decided it will no longer sell high-capacity magazines that allow shooters to fire more rounds than a traditional weapon would without having to stop and reload.

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Are Consumers Ditching their Banking App for Fintech Apps?

Bank Innovation

Scrapegators, what’s that? According to Malauzai Software, that’s the term used for vendors that “scrape” digital banking apps on the internet to gather data and then provide that data to fintechs. In other words, they are aggregators. Think Mint, Yodlee and Intuit, who, according to Malauzai Software’s Monkey Insights February 2018 report, are the largest.Read More.

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Don’t look to America for innovation

Chris Skinner

I recently wrote this piece for Raconteur’s Sunday Times supplement, and thought it might interest The Finanser’s readers: ‘When we in the West look to America for innovation, we are looking the wrong way’ I often talk about the world of change we are going through and how Europe and America are … The post Don’t look to America for innovation appeared first on Chris Skinner's blog.

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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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What makes you think?

Insights on Business

Watch the video. It’s clear: Customer Experience is the battleground for banks, insurance, and financial services companies. Pressures from fintech competitors, regulators, cybercriminals threaten the relationships incumbent banks have built with their customers. Today’s challenges, require bigger ideas and better thinking—bringing cloud, cognitive, blockchain, even quantum computing technologies to the table as viable solutions to meet the enterprise-wide transformation imperative.

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TransNational Rolls Out Payments API With AI-Powered Security

PYMNTS

TransNational Payments is launching a payments application programming interface (API) for developers, the company announced on Thursday (March 1). In a press release , TransNational revealed the launch of Pi, short for “perfect integration,” to support developers’ implementation of its payments processing solution into their own solutions. The API was created using JSON, a JavaScript data interchange format, which, according to TransNational EVP Mark London, makes the solution “more agile, sinc

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With 7M Customers (And Bitcoin Support) Is Square Cash App a Real Venmo Competitor?

Bank Innovation

EXCLUSIVE–Is Square quietly building the P2P app that will take Venmo’s crown? With seven million active monthly users in December 2017, according to its fourth quarter earnings yesterday, the company’s Square Cash app—launched in 2013—is more popular than one might have thought; In any case, Square has not previously released usage numbers for the mobile.Read More.

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Things worth reading: 28th February 2018

Chris Skinner

Things we’re reading today include … The Rothschild banking dynasty is about to be passed to the 7th generation India gives its fraud-hit banks a 15-day ultimatum Africa’s banks are doing what U.S. banks aren’t: winning Hawk or dove? Bitcoin is forcing central banks to take sides | Howard Davies … The post Things worth reading: 28th February 2018 appeared first on Chris Skinner's blog.

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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.