Sat.Nov 18, 2017 - Fri.Nov 24, 2017

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Banks Should Take Advantage of API Opportunities Before They’re Gone, FI.SPAN Says

Bank Innovation

EXCLUSIVE—Banks need to start integrating with more fintech services and building out more products through APIs, FI.SPAN CEO Lisa Shields told Bank Innovation, before regulations on open banking start to cramp what FIs can build. “What we are betting our business on, is that there is a massive opportunity for banks to innovate,” Shields said. […].

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Data is the new currency

Chris Skinner

There’s a constant buzz about disruption, which kind of sounds like destruction to me. We have to realize that no one is going to destruct or even possibly disrupt banks. No one. It has not happened in my lifetime of working with technology in banks, and I don’t think it … The post Data is the new currency appeared first on Chris Skinner's blog.

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Merchants can beat the Black Friday blues with faster payments, safer data

Payments Dive

While this period brings great opportunity for retailers, it also creates considerable challenges. Retailers must respond to evolving behaviors and manage huge increases in footfall, but still deliver the exceptional in-store experience consumers demand.

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UPS Hits Retailers With Holiday Shipping Fee Surprise

PYMNTS

With the holiday shopping season in full swing, retailers are facing a new challenge: extra shipping fees during the busiest weeks. The Wall Street Journal reports that United Parcel Service (UPS) is adding on a surcharge to packages shipped to homes around Black Friday and the week before Christmas in a move to compel retailers to send their orders outside those peak periods.

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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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What’s Next for SWIFT? APIs, Realtime Payments, and Cryptocurrency

Bank Innovation

EXCLUSIVE–With global payments service SWIFT gpi (global payments innovation) finishing up its first active year, how is SWIFT planning to push the service forward in 2018? The banking infrastructure provider will be moving gpi forward through new partnerships and new projects, most notably API capabilities, Stephen Grainger, managing director, head of North America for SWIFT, […].

More Trending

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The future of shopping: Staffless. Cashless. Gapless.

Payments Dive

ICXA Managing Director Christopher Hall muses about customer experiences that are cashless, staffless and have no gaps in covering customers everywhere they go.

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Ten mega trends that will drive the future of payments

Accenture

In “Paradise Lost”, 17th-century English poet John Milton describes two types of warriors: One group are “employed in sporting games and exercises” and “sing in the valleys”, while the other group “rend up both rocks and hills”, “make wild uproar” and “ride the air in whirlwind”. Milton’s bifurcation also applies to the modern-day payments industry.

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PayPal Adds Invoice Feature to Facebook Messenger

Bank Innovation

EXCLUSIVE – The latest in PayPal’s busy week: the payments company is now letting users create an invoice through the Facebook Messenger service, expanding on its recent partnership with the social media platform to enable P2P payments through Facebook’s chat service. In a corporate blogpost yesterday afternoon, PayPal announced that it would now let sellers create […].

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Why Nations Fail

Chris Skinner

I was recently at a Capital Markets conference in Turkey where the main first day keynote speaker is Professor James A. Robinson from the University of Chicago and co-author of Why Nations Fail, a book that changed thinking about what makes for successful countries and what makes them fail. I had … The post Why Nations Fail 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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The Full Monty: Embracing mobile banking technology

Payments Dive

Finxact's Dan McKinney believes financial institutions are finally starting to make it easier for consumers to interact with them on a smartphone.

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Artificial Intelligence: FIs’ Friend Or Foe?

PYMNTS

Artificial intelligence (AI) doesn’t walk and talk like C3P0 of “Star Wars” (many would say: “Thank God”). It doesn’t mask murderous intentions with a calming voice like HAL of “2001: A Space Odyssey.” It’s not the manically depressed, paranoid android Marvin of “Hitchhiker’s Guide to the Galaxy.” It’s not a beautiful but cunning killer like Ava of “Ex Machina.”.

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Norwegian Banks Come Together to Form Unified Payments System

Bank Innovation

Norwegian banks are coming together to merge their payments. According to Reuters, the purpose behind this merger is to combat competition from global payment companies, perhaps ones like PayPal or Square Cash to name a few. DNB, banking group Eika, Sparebank 1 Gruppen and others will merge their respective payment systems Vipps (mobile payment app), […].

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Why distributed ledgers aren’t working (yet)

Chris Skinner

I spent a day facilitating a series of roundtable discussions focused upon distributed ledger technologies (DLT). I realised that there’s a lot of confusion around the subject. Hell, even I’m confused most of the time even after dedicating hours to the subject. When is a distributed ledger needed? What’s the … The post Why distributed ledgers aren’t working (yet) 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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The influencer interview: Chris Gledhill cuts through the hype around AI, blockchain and Big Data

Bobsguide

Chris Gledhill, CEO of Secco Aura and frequently referenced as one of the top 10 fintech influencers, speaks to bobsguide about going beyond 'incremental innovation' towards genuine, irreversible disruption. How did you get into banking? I started off on the tech side with a.

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Fiorano Introduces PSD2 Platform For Banks

PYMNTS

With Europe only weeks away from PSD2 taking effect, Fiorano Software is debuting its solution for financial institutions (FIs) in the region to comply with the directive. The company revealed its new solution on Monday (Nov. 20), Fiorano PSD2, a platform for FIs across the EU to ensure compliance with PSD2, built on the company’s existing API Management capabilities and banking integration management tools.

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BBVA to Launch Mobile Iris Scanner Through Partnership With Samsung

Bank Innovation

Spanish bank BBVA will integrate a biometric authentication feature into its mobile app, allowing users to log into their app via iris scan. The feature, announced today, will use Samsung’s iris scanning technology, recently updated along with its other biometric capabilities, according to the company. The company’s iris recognition feature is part of a suite […].

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The long and winding road … to the blockchain

Chris Skinner

I still talk a lot about blockchain, distributed ledgers, cryptocurrencies and more, but often feel it’s falling on deaf ears. The price of bitcoin flies around in the $7,000 a coin bracket, having risen from a tenth of that amount a year ago; and many people talk about blockchain and … The post The long and winding road … to the blockchain 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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Payments provider SIBS and IBM announce a cognitive solution to combat fraud

Insights on Business

The changes we see in the global payments landscape, driven by innovative technologies, are fundamentally changing the industry, but they come with a brand new set of challenges. Over the past decade, sophisticated fraudsters have learned to rapidly scale up their attacks, making them more skilled at exploiting payment systems. The same technology that has helped change the world of payments has also fueled fraud complexity, requiring an increasingly sophisticated anti-fraud response – pay

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U.S. Consumers Favor Small Biz Over Big Malls

PYMNTS

Good news for small- and medium-sized businesses (SMBs): Spending growth at mom and pop shops has outpaced that of the big chains in both of the past two years. According to Bloomberg reports on Wednesday (Nov. 22), purchasing patterns research from Sarah Quinlan, senior vice president at payment processing giant Mastercard Inc., found that when Americans aren’t shopping online, they’re looking for more personal connections and the advice they can receive from local SMBs.

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Don’t Send Payment Reminders with Social Media, FICO Says

Bank Innovation

Consumers still aren’t comfortable receiving notifications like late payment reminders through social media channels, a study released today by FICO found. While more and more consumers are growing used to conducting their daily financial needs via digital channels, things like mobile or chat apps or social media remain an “inappropriate place” to send notifications for […].

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Things worth reading: 20th November 2017

Chris Skinner

Things we’re reading today include … Brexit Pushes EU Bank Regulator Into Arms of Continental Suitors The Future Of Banking Is In The Palm Of Your Hand When the last bank leaves town ‘We’ve been badly served by banks’: the small firms seeking ethical banking Increase in disgruntled employees stealing confidential … The post Things worth reading: 20th November 2017 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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Is Hashgraph the Future of Decentralized Technology? [Video]

Let's Talk Payments

In a panel moderated by Demetri Kofinas, host of the Hidden Forces podcast, the conversation at The Assemblage NoMad looked at how Hashgraph – an entirely new distributed ledger technology – may.

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QuickBooks Fuels Growth As Intuit Surpasses Q1 Targets

PYMNTS

Intuit announced its Q1 FY2018 earnings this week, posting better-than-expected results for the firm and highlighting growth fueled by QuickBooks. “We are off to a strong start growing first-quarter revenue 14 percent and exceeding our overall financial targets,” Intuit chairman and chief executive officer Brad Smith said in a statement.

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RBS Launches First Investment Robo-Advisor in the U.K. through NatWest Invests

Bank Innovation

EXCLUSIVE- Royal Bank of Scotland becomes the first bank in the U.K. to go live with an investment robo-advisor under its NatWest Bank brand, RBS said in a release today. Starting today, the digital service is available to NatWest Bank’s five million customers through NatWest Invests‘ platform online. Since the tool is geared towards “customers […].

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The Finanser’s Week: 13th November – 19th November 2017

Chris Skinner

This week’s main blog headlines are … Old John Cryan had some code, AI, AI, Oh! There are two big tech topics in banking these days, namely Artificial Intelligence (AI) and Blockchain. These two tech titans are changing the back office of banks into intelligent shared structures that will be … The post The Finanser’s Week: 13th November – 19th November 2017 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.