Payments Dive
OCTOBER 23, 2018
Executives from MB Financial Bank, Wells Fargo and USAA gathered in Chicago for a rapid-fire round table discussion on a variety of topics in the banking industry.
Chris Skinner
OCTOBER 23, 2018
Like many of us, I have several pet hates about banks. My main one is when they sting you with charges you don’t expect. I always remember getting a £50 charge for an unauthorised overdraft a few years ago. I’d been with the bank for over twenty years and never … The post Ring out the old, ring in the new appeared first on Chris Skinner's blog.
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PYMNTS
OCTOBER 22, 2018
Fair Isaac, creator of the FICO credit score, will be rolling out a new scoring system in early 2019. According to the Wall Street Journal , the UltraFICO Score should help many consumers get approved for loans because it factors in how consumers manage the cash in their checking, savings and money-market accounts, which could serve as an indication of how likely they are to repay their debts.
Bank Innovation
OCTOBER 24, 2018
LAS VEGAS - The CEOs of Prosper Marketplace, Lending Club, and Social Finance Inc. all spoke to a common theme – preparing for the coming storm and choosing loans for quality, not quantity. JPMorgan Chase has predicted a 60% chance of recession by 2020, and it’s not clear how traumatic an event it will be […].
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Payments Dive
OCTOBER 25, 2018
In the past several years, it's become commonplace at industry conferences for executives to point to a handful of retail mobile experiences financial institutions should try to emulate to some extent. How should banks adapt to these kinds of expectations?
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
PYMNTS
OCTOBER 26, 2018
Corporates across the Asia Pacific region are increasing their use of commercial card products, according to a new report from Citi. Reports in The Asset on Thursday (Oct. 25) said Citi’s Asia Pacific Commercial Cards Survey 2018 revealed businesses in the region are expanding their commercial card programs, as organizations shift away from legacy payment tools and use their cards for more spend categories, including procurement and meetings and events.
Bank Innovation
OCTOBER 23, 2018
It's a common refrain from bank CEOs -- "My bank is a technology company." But the reality is much rarer. JPMorgan Chase is showing it takes fintech seriously by building (or buying) a Silicon Valley campus, which will house 1,000 employees, including 250 from recently acquired WePay. But some banks have taken it even farther. […].
Payments Dive
OCTOBER 26, 2018
Thales eSecurity and Networld Media Group will host the 2018 FinServ Data Security Summit in Boston, Thursday, Nov. 15. Participating CISOs will get exclusive insights from the Thales Data Threat Report and from IS executives who have headed up major digital transformation initiatives for their financial institutions.
Chris Skinner
OCTOBER 21, 2018
Someone told me I should start a travel blog, as I fly more than most pigeons do. True. But I’m not sure my travel blog would be read so much. However, it does make me reflect on travel and money. Some countries are still reliant on cash whilst others are … The post Is the world being democratised through technology? appeared first on Chris Skinner's blog.
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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
PYMNTS
OCTOBER 21, 2018
The Financial Action Task Force (FATF) announced that it will get one step closer to creating international standards for cryptocurrency when it launches its first set of rules in June of 2019. According to Reuters , the Paris-based global AML watchdog revealed that jurisdictions around the world will be required to license or regulate cryptocurrency exchanges, as well as select firms providing encrypted wallets and firms providing financial services for ICOs.
Bank Innovation
OCTOBER 23, 2018
CB Insights on Monday named its 2018 Fintech 250, a list of what the research firms considers the most promising fintech companies globally. Nearly half the companies are new to the Fintech 250 list, which was first published last year. These 250 companies have received a combined 947 equity investments worth $53 billion since 2013. […].
Payments Dive
OCTOBER 26, 2018
INFOMEDIA today is delighted to announce new partnership arrangements with several outstanding brands that wish to capitalize upon the benefits of using Direct Carrier Billing (DCB) as a means to charge the cost of digital content to their customer’s mobile phone bill with as little as one click.
Chris Skinner
OCTOBER 24, 2018
I enjoyed chairing a half day stream at #Money2020 in Las Vegas focused upon breaking news and views. It actually turned out to be more around how banks are partnering with start-ups, with several sessions discussing how the partnership started and how it worked. The first session had Amazon discussing … The post #Money2020 USA: reaching FinTech 3.0 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
PYMNTS
OCTOBER 21, 2018
JPMorgan Chase is doubling down with its FinTech aspirations, gearing up to start development of a new FinTech corporate campus in the early part of 2019. CNBC reported that the campus in Palo Alto, California will be home to more than 1,000 employees. The campus will be located between Facebook and Google in the Stanford Research Park. JPMorgan Chief Executive Jamie Dimon views technology as a way to keep back the competition from FinTech startups that are luring over millennial customers in dr
Bank Innovation
OCTOBER 25, 2018
Walmart seems to be popular among financial services players these days. First PayPal and now Capital One have noted the significance of their partnerships with the retailer in recent earnings calls. Just yesterday, in Capital One’s 3Q18 earnings call, Richard Fairbank, CEO and chairman, mentioned that Capital One will be the exclusive issuer of Walmart […].
Bobsguide
OCTOBER 23, 2018
Nearly a year has passed since Ripple spoke to bobsguide in late 2017, and 2018 has proven to be a big year for the blockchain cross-border payments startup. At Swift's flagship Sibos conference in Sydney, Australia, Ripple's head of strategic accounts, Marcus Treacher, discussed.
Chris Skinner
OCTOBER 21, 2018
The main blog headlines are … Customer intelligent marketing is not a scary thing I grew up as a marketing guy. My first career roles were in marketing. I was trained by Kotler and Drucker, and still hold true to first principles of marketing: the 4 P’s or, if you’re … The post The Finanser’s Week: 8th October – 21st October 2018 appeared first on Chris Skinner's blog.
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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.
PYMNTS
OCTOBER 26, 2018
Ripple said that its revenues related to the sale of the digital asset known as XRP gained ground in the third quarter of this year, more than doubling over the second quarter (that is, sequentially). The company said in its third-quarter report on XRP markets that it sold $163.3 million in the latest period, up from the $75.5 million in the second quarter.
Bank Innovation
OCTOBER 24, 2018
If there’s one area that fintech companies are giving banks tough competition in the U.S. market, it’s the lending space. With easy application processes, quick decisioning and seamless movement of funds between lender and borrower, alternative lenders are becoming the go-to options for many consumers accounting for 32% of total loan originations last year.
Gonzobanker
OCTOBER 24, 2018
Wells Fargo has been busy assaulting the reputation of bankers—and bizarrely, bankers don’t seem to care. Not even a little bit. Seriously, Wells has been exposed for loudly and publicly brutalizing its customer base, and we trusted industry players sheepishly shrug it off with an, “Ah, that’s just Wells being Wells…”. In just the past two years, the San Francisco giant has revealed a mind-blowing pattern of deceptive business or unfair practices entirely focused on earnings at the expense of th
Chris Skinner
OCTOBER 22, 2018
Someone told me I should start a travel blog, as I fly more than most pigeons do. True. But I’m not sure my travel blog would be read so much. However, it does make me reflect on travel and money. Some countries are still reliant on cash whilst others are … The post Technosocialism? As if … appeared first on Chris Skinner's blog.
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.
PYMNTS
OCTOBER 22, 2018
Tala, the consumer lending app in emerging markets, announced Monday (Oct. 22) a strategic investment from PayPal. In a press release , Tala said the undisclosed investment from PayPal will help the company bring visibility and access to underserved regions in emerging markets across the world. According to Tala, more than two-thirds of the adult population in the world has no formal credit record, which makes it hard for them to access traditional financial services.
Payments Source
OCTOBER 22, 2018
The Bank of Lithuania is positioning the country’s capital Vilnius as a hub for payments-related fintechs wanting to enter the European market — a move that's timed to take advantage of the uncertainty Brexit has cast over London's claim to the title.
Bobsguide
OCTOBER 24, 2018
Chris Larson, executive chairman and co-founder of Ripple, said mistakes have been made in the ways in which regulators have dealt with cryptocurrencies. “Washington is in a learning phase,” he told an audience at Money20/20. “I have to say there was a debacle with the industry.
Chris Skinner
OCTOBER 21, 2018
Things we’re reading today include … Global banks curb China travel after UBS banker stopped from leaving Goldman Sachs changes Asia investment banking leadership: memo Ex-Deutsche trader charged in rate-rigging case Lloyd’s warns of ‘crippling’ insurance crisis leaving emerging economies vulnerable Serious Fraud Office presses case to get criminal charges … The post Things worth reading: 22nd October 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.
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