Payments Dive
MAY 4, 2018
Real-time payments infrastructure officially arrived in the U.S. with the launch of The Clearing House RTP system in November. Will the technology ultimately prove to be, as predicted, "one of the most important payment transformation efforts in our industry"?
Chris Skinner
MAY 3, 2018
I’ve been watching the rollercoaster ride of cryptocurrencies very carefully for the last year, and it only struck me today that these are not currencies … yet. Apart from a few novelty vendors and merchants who put bitcoin on their websites, I don’t see many others accepting ether or XRP, … The post Cryptocurrencies are not currencies appeared first on Chris Skinner's blog.
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Bank Innovation
APRIL 30, 2018
EXCLUSIVE— As open banking sweeps through Europe with the launch of PSD2, GDPR, and other regulations focused on transparency, North American financial institutions might want to consider looking to blockchain or artificial intelligence for their own compliance challenges. This is according to Richard Arundel, general manager, North America for financial technology provider Currencycloud, who noted […].
PYMNTS
MAY 3, 2018
From mom-and-pop retail shops to the world’s largest companies, nearly every business is looking to offer the latest technology to its consumers. For many in the financial services world, though, implementing innovations is easier said than done. So, what’s standing in the way of FIs, the largest of which come to the table armed with big budgets and endless resources?
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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
Payments Dive
MAY 1, 2018
Nav Kullar, marketing manager for NCR Payments, cites a recent Visa study about this trend with consumers traveling abroad.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
APRIL 30, 2018
EXCLUSIVE- The genesis of Bill.com, a cloud-based cash flow management software for SMBs, came to René Lacerte when he was still leading his digital payroll services company PayCycle. “Payroll and B2B payments is a huge painpoint for small and medium sized businesses,” Lacerte told Bank Innovation. “The idea behind creating a Bill.com was to address […].
PYMNTS
APRIL 30, 2018
Benjamin Franklin is best remembered as a signer of the Declaration of Independence in 1776 and a prolific inventor who created the lightning rod after flying a kite with a key on it in a thunderstorm. A little known fact, perhaps, is that Franklin is credited with inventing two things that almost every person has used — or will — at some point in their lifetime: swimming fins and bifocals.
Payments Dive
MAY 3, 2018
It's time for a look back at last month's most-read content on the site.
Chris Skinner
APRIL 30, 2018
Everywhere around the world, I find politicians and bankers in dodgy practices. It’s because power and money go together. We’ve seen this clearly in EU and USA with LIBOR, CDOs, PPI, bribes, parties, prostitutes and more, and I was reminded of it when seeing a presentation the other day by … The post Banks charged dead people fees for a decade appeared first on Chris Skinner's blog.
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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
Bank Innovation
MAY 2, 2018
Digital mortgages will be a major trend for banks in 2018. In the first quarter alone, Bank of America and SunTrust Banks both unveiled their digital mortgage platforms, with SunTrust being the most recent. “If you look at the housing industry, it has always been a slow adopter of change back to the days of Frannie […].
PYMNTS
MAY 1, 2018
A new survey by ACI Worldwide and Ovum found evidence that financial institutions (FIs) are more willing to open up their data via API and are embracing real-time payments initiatives. The report, published on Monday (April 30), found nearly three-quarters of banks surveyed (73 percent) said they would be willing to open up data to third-party developers via API.
Bobsguide
MAY 3, 2018
Whether you’re the chief information security officer (CISO) of a large enterprise with offices across the globe or the IT manager of a small enterprise, if you had a big budget, you would spend it on building and maintaining a security operations centre (SOC) to monitor every risk your.
Chris Skinner
APRIL 30, 2018
I just got a report from J Walter Thompson on the future of money and there’s some interesting facts and stats. Here are my headlines: 76% of millennials are looking for new forms of banking 40% of people in their twenties have downloaded a money management app 80% of millennials … The post The future of money (research report) appeared first on Chris Skinner's blog.
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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.
Bank Innovation
MAY 3, 2018
The ways businesses, consumers, and even banks make payments are changing, as technologies like realtime payments and APIs make it easier to send money across the globe. But one technology seems curiously absent from recent payment innovation, and that’s blockchain. “We think blockchain technology will streamline payments, but in practice there are very few open […].
PYMNTS
APRIL 30, 2018
Ripple has announced that five new customers across Europe and Asia will use xVia to power payments over RippleNet, its blockchain network. The companies partnering with Ripple are FairFX (U.K.), RationalFX (U.K.), Exchange4Free (U.K.), UniPAY (Georgia), and MoneyMatch (Malaysia). xVia is an API solution enabling payment originators (those sending a payment on behalf of a customer, but not actually processing and paying it out) to access RippleNet.
Insights on Business
MAY 1, 2018
As the banking Payments ecosystem in Canada continues to expand, IBM is looking forward participating in the upcoming Payments Canada Summit , held in Toronto on May 9-11 with industry leaders, innovators and challengers. While the advances in Payments processing are clear, there still remains a number of areas where further education is necessary, additional trust and security is required, and advances made in payments technology are still needed.
Chris Skinner
MAY 2, 2018
My friend Emmanuel Daniel, founder and Chairman of The Asian Banker, ran an interesting video dialogue recently, in a near hour long interview with Chng Sok Hui, chief financial officer of DBS. The whole video, audio and transcript of the interview can be found over here, but I liked this … The post Challenging DBS: how do you measure digital innovation?
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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.
Bank Innovation
MAY 2, 2018
Square launched a rewards program for its Cash card yesterday called Cash Boost. Around noon Eastern time the company tweeted it would begin rolling the service out. By 5 PM it announced it had rolled out the service to 100% of its customers. This update, assuming it happened during that timespan, did not require an […].
PYMNTS
MAY 3, 2018
Its name is Hermyz. Its mission, which just won the official admiration of Visa , is to move small businesses away from checks and paper receipts by migrating invoice management online. Hermyz took the grand prize and the $10,000 that came with it at last weekend’s Small Business Hackathon, an inaugural event that took place in Washington, D.C., with the backing of Visa and the U.S.
Bobsguide
MAY 1, 2018
The introduction of the Payment Services Directive 2 (PSD2) in Europe at the beginning of 2018 was the latest step on the region’s journey towards competitively fair, digital banking. With the introduction of the legislation, incumbent banks are now legally obliged to open their customer data.
Chris Skinner
APRIL 28, 2018
The main blog headlines are … How do you manage your digital death? I just completed one of those things that none of us like doing, making a will. I recently had a major change of circumstances in my life, and decided that I should make appropriate updates and provisions. … The post The Finanser’s Week: 23rd April 2018 – 29th April 2018 appeared first on Chris Skinner's blog.
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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.
Bank Innovation
MAY 4, 2018
Crowdfunding is on the rise. A recent report by Statista Digital Market Outlook shows that by 2022, crowdfunding could grow to $57 billion globally, with China being the leader in this area. To put the number in perspective, in 2017 $14.5 billion was raised by crowdfunding. So, $57 billion in a span of four years would […].
PYMNTS
APRIL 30, 2018
Get ready for a shift in the meal kit landscape, according to Chef’d CEO Kyle Ransford. In the latest Topic TBD with PYMNTS’ Karen Webster, which explored the preparation and delivery of food rendered as a service, Ransford predicted that “I think the subscription meal kit as it’s been known will be vastly diminished in the next two years. It won’t be something that you hear a lot of or get marketed to a lot.
Insights on Business
APRIL 30, 2018
The countdown clock to GDPR – the General Data Protection Regulation of the European Union (EU) – is being closely followed by business leaders in Europe and around the world as it moves towards its May 25, 2018 deadline. While this harmonized data protection law was designed to give EU citizens more control over their personal data, there is no doubt that GDPR is having a more widespread effect due to the fact that many corporations are global in nature.
Chris Skinner
MAY 2, 2018
Things we’re reading today include … Major Investment Bank Predicts Cryptocurrency Market “Wipe Out” British banking leverage remains ‘dangerously high’ Elderly couple face losing home as interest-only loan crisis bites TSB boss grilled by MPs TSB’s Paul Pester hits series of wrong notes in front of MPs | Nils Pratley … The post Things worth reading: 3rd May 2018 appeared first on Chris Skinner's blog.
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