Payments Dive

JULY 26, 2018

While more connected devices is convenient for consumers as far as payments, it also opens a window for cybercrime and security breaches.

Security 373

Security Payments 373

Bank Innovation

JULY 27, 2018

Millennials are expected to have $20 trillion in wealth by 2030, according to a July 2018 CB Insights study. Marketing investment options and robo-advisors to this mobile-centric group will require a specific strategy. Currently, millennials’ combined financial assets come up to $4.5 trillion in wealth. Factoring in for organic savings growth, market “impact,” and wealth […].

Millennials 277

Millennials Study Strategy Mobile 277

Chris Skinner

JULY 26, 2018

I regularly come back to the topic of bank branches, which are topical. A recent UK headline said that a town is now branchless … Closure of Lloyds leaves this Warwickshire town with no banks … whilst another says that the closing of branches is all about increasing profits for … The post The branch of the future is NOT about advice appeared first on Chris Skinner's blog.

Digital Banking 275

Digital Banking Technology 275

PYMNTS

JULY 24, 2018

MoneyGram and Visa announced today (July 24) that they have partnered to deliver real-time digital disbursements to MoneyGram customers using Visa’s push payments platform, Visa Direct. Launching in October in two key markets, Mexico and the Philippines, MoneyGram will expand its options in which receivers from those markets may receive and use funds instantly — via their bank-issued Visa-branded debit card or Visa-branded prepaid card — and senders may choose the option by which to send those

Branding 223

Branding Cards Marketing Security 223

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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

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Payments Dive

JULY 27, 2018

Host Will Hernandez, discusses the future of transit, Uber, and how mobile payments ties it altogether, with Jonathan Donovan, chief product officer of Masabi. Will also speaks with Christopher Hall, director of the Interactive Customer Experience Association, about mobile payments, the customer experience, along with details about ICXA.

Mobile 170

Mobile Customer Experience Payments 170

Chris Skinner

JULY 24, 2018

Ever since the collapse of Enron, we’ve seen auditors under question. I’m sure most of you can remember the Enron disaster but, just in case, the company went from Oil King to Futures Basketcase faster than Lewis Hamilton could catch up with Sebastian Vettel yesterday. Much blame was placed on their … The post What is the point of an auditor? appeared first on Chris Skinner's blog.

Company 217

Company Regulation 217

PYMNTS

JULY 27, 2018

United Nations (UN) chief António Guterres has warned staff and member states that it is running out of cash. In a letter, he urged countries to pay what they owe as soon as possible, according to Reuters. The letter sent to members stated that, as of June 30, the core UN budget had a deficit of $139 million and the United Nations had “never faced such a difficult cash flow situation this early in the calendar year.”.

United States 143

United States National Security 143

Insights on Business

JULY 26, 2018

IBM RegTech Innovations. One of the best things about working at IBM—and in the RegTech field in particular—is meeting daily with the engineers and developers who are driving technological innovation in the financial industry. Consider, for example, the blockchain space. While blockchain’s decentralized, distributed-ledger technology is most popularly known as the basis for cryptocurrencies such as bitcoin, among the thought leaders with whom I work this is only scratching the surface of the pot

blockchain 151

blockchain Innovation Customer Experience Compliance 151

Bank Innovation

JULY 23, 2018

Fintech funding is already breaking records this year. For the first half of the year, there has been $41.7 billion invested in fintech globally, eclipsing the 39.4 billion total raised last year according to Fintech Global. As the world of fintech funding continues to gain momentum, there are some deals that stand out. Bank Innovation […].

Fintech 218

Fintech Innovation cryptocurrency Capital 218

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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

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Chris Skinner

JULY 24, 2018

Building on yesterday’s discussions of regulating, I got copied on a letter that’s doing the rounds from Sam Woods, Deputy Governor of the PRA (the Prudential Regulatory Authority). It lays out the official position and expectations of the regulator when financial insitutions are dealing with crypto-assets. It makes for interesting … The post The UK regulators official position on crypto-assets appeared first on Chris Skinner's blog.

Regulation 202

Regulation blockchain 202

PYMNTS

JULY 25, 2018

If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be. The Federal Bureau of Investigation (FBI) recently issued a public service announcement warning that the BEC scam has now redirected $12 billion worldwide , much of that now having to be written off as a loss for corporates unable to recover the funds.

Fraud 138

Fraud Survey Payments Cards 138

Bobsguide

JULY 27, 2018

Despite the hype still rife around blockchain, quantum computing threatens to undermine distribution ledger capabilities before they've even had a chance to disrupt the financial services. "And that's before we mention our quantum computing," says Jason Kelley, the IBM.

blockchain 121

blockchain 121

Bank Innovation

JULY 23, 2018

Social media platform SnapChat will shut down its P2P payment feature, Snapcash, as of August 30, after launching less than four years ago in 2014. Snapcash has faced a lot of competition from more popular P2P apps such as Venmo, Apple Pay, SquareCash, PayPal and even the banks-backed Zelle, which reported a $25 billion in […].

social media 218

social media Payments Apple Report 218

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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.

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Chris Skinner

JULY 24, 2018

Things we’re reading today include … Nearly a million fed-up customers switch banks in the past year Revealed: the banks most people are switching to Euro zone bank fund holds 25 billion euros after four years Bank of England to Open New Payment System to Blockchain Users Metro Bank performs … The post Things worth reading: 25th July 2018 appeared first on Chris Skinner's blog.

Metro 171

Metro blockchain System Payments 171

PYMNTS

JULY 25, 2018

When eBay announced that it would be accepting Apple Pay , it wasn’t the only new development for the online marketplace. The company also revealed a partnership with Square to offer financing to companies selling on eBay, heating up competition with its rival, Amazon. Bloomberg reported Tuesday (July 24) that eBay will begin offering merchants up to $100,000 in financing through Square Capital.

Lending 134

Lending Capital Apple Operations 134

Bobsguide

JULY 26, 2018

Driving to Digital. In an era of digital transformation, not to mention a lot of economic and regulatory change, for many organizations this means unprecedented pressure to deliver new innovation to remain relevant and competitive. With studies revealing that only 5% of organizations winning at.

Study 118

Study Innovation 118

Bank Innovation

JULY 26, 2018

Payments platform PayPal had $139 billion in total payment volume in 2Q18, up 29% YOY, and expects to add 30 million net new actives by the end of the year, according to the company’s earnings call yesterday. Of that $139 billion, 39% of the total payment volume, or $54 billion, was mobile. Just $14.2 billion […].

Mobile 210

Mobile Payments social media Online 210

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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.

Lending

Chris Skinner

JULY 22, 2018

Things we’re reading today include … Hackers net almost $1m in Russian bank raid India needs a strategy to get the government out of banking Mortgage, Groupon and card debt: how the bottom half bolsters U.S. economy Wall Street braces for tariff fallout as S&P 500 companies report G20 calls … The post Things worth reading: 23rd July 2018 appeared first on Chris Skinner's blog.

Strategy 171

Strategy Cards Report Company 171

PYMNTS

JULY 23, 2018

This one may be familiar: Wide receiver and cryptographer walk into a bar and … set the data security landscape on its ear. No? Haven’t heard that one, hmm? Since sports analogies abound in all corners of writing, try this one on for size: blocking and tackling — the digital kind. The kind that defends sensitive data against bad actors and leaves their best efforts crumpled on the field.

Dallas 134

Dallas Security Data Company 134

Payments Source

JULY 26, 2018

The money flowing into alternative merchant acquiring is feeding an arms race, with each new deal adding pressure to become an automated one-stop shop for small businesses.

Capital 113

Capital 113

Bank Innovation

JULY 24, 2018

U.K. neobank Starling is in a mood to switch things up, at least on the design front. Last week, Starling unveiled changes to the payments screen on its mobile app and today it unveiled a new debit card. For starters, the new debit card is not purple, Starling’s signature color. Instead it’s teal and navy […].

Cards 210

Cards Mobile Payments social media 210

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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.

Lending

Chris Skinner

JULY 22, 2018

I see a strong need for global regulatory co-ordination. In particular, in a globalised world with a global network where everyone can connect and transact in real-time, anytime, anywhere, the idea of national regulators regulating a system that does not recognise national borders seems counter-intuitive. This was illustrated well by … The post Does the Fed putting America First destabilise the rest of the world?

America 171

America National Regulation System 171

PYMNTS

JULY 26, 2018

Flywire , the payment company for businesses and institutions, announced on Thursday (July 26) that it has raised $100M in new venture funding. In a press release , Flywire said the Series D round was led by Temasek , an investment company headquartered in Singapore, and joined by existing Flywire investors that include Bain Capital Ventures and F-Prime Capital Partners. “Our strong growth is a direct result of our ability to solve the difficult pain points that exist in complex payment pr

Marketing 130

Marketing Capital America Company 130

Gonzobanker

JULY 27, 2018

“Your satisfaction is our top priority. So, if you could try to act really satisfied, that would be a big help.” —Randy Glasbergen. Ask four different industry experts how satisfied bank customers are with their delivery options and you’ll likely get four completely different answers. Recent examples: The J.D. Power 2018 Retail Banking Satisfaction Survey—which did not include any digital-only banks or Fintech providers—found that the most satisfied customers regularly use both branch and digit

Study 103

Study Survey Millennials Online 103

Bank Innovation

JULY 23, 2018

With over 25 million mobile bank users on the retail side, Bank of America is shifting attention to ramping the numbers on the commercial side, with the launch of a mobile app for its prepaid commercial cards. Today, Bank of America Merrill Lynch unveiled an app specifically designed for reloadable commercial prepaid cards. These cards […].

America 210

America Cards Mobile Retail 210

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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