Payments Dive
APRIL 23, 2019
Consumers want to see more options in the payment methods available at the gasoline pump. This presents opportunities and challenges from the stanpoint of introducing mobile payment options, while maintaining the security of transactions.
Chris Skinner
APRIL 23, 2019
It was Earth Day on Monday, and a national holiday in many nations as they observed what Christians call Easter. Whilst Sri Lankans mourned the fatal losses on the Easter Sunday church gatherings, many observed the anniversary of the birth of the modern environmental movement in 1970. One of the leading … The post Doing good for society and the planet (an Earth Day FinTech update) appeared first on Chris Skinner's blog.
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Bank Innovation
APRIL 23, 2019
With the majority of the region's debt collection being handled by small, provincial agencies, the process in Southeast Asian markets is still mostly manual. Digital debt collector AsiaCollect is hoping to change that. Based in Singapore, AsiaCollect unveiled a standalone, AI-based platform called SmartAgent, which it plans to roll out in India in the coming […].
PYMNTS
APRIL 22, 2019
Visa introduced a platform on Monday morning (April 22), complete with beta application programming interfaces (APIs), that will allow issuers and issuer processors to build and test new products. The company said the platform is available for the company’s clients and partners through Visa Next, a website billed as a “new destination” for glimpsing and using new solutions in the payment giant’s ongoing pipeline.
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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
APRIL 25, 2019
PayPal and Visa reported strong earnings in the first quarter of 2019, with PayPal breaking out Venmo numbers for the first time.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Bank Innovation
APRIL 23, 2019
Nearly 80% of traditional financial institutions feel little or no threat from fintechs today, but 65% believe fintechs will be a “significant threat” by 2022, according to a new study by Harvard Business Review. The survey of 300 executives from traditional FIs also found that 20% said their organizations don’t compete with fintechs “at all” […].
PYMNTS
APRIL 23, 2019
The idea started in the B2C world, but it wasn’t long before online sellers were asking about its use for B2B — at least, according to Chris Tsai, co-founder and CEO of Resolve , in a new PYMNTS interview. Resolve, a B2B payment services firm that spun off from Affirm , provides point-of-sale (POS) financing to consumers via retailers, including Walmart.
Payments Dive
APRIL 26, 2019
David Jones talks to SunTrust CTO Ken Meyer about the role of traditional banks in the global economy.
Chris Skinner
APRIL 20, 2019
The main blog headlines are … Will a global platform connect all of our money? When I talk about FinTech, I often reflect on the first time I encountered what I would, today, call a truly FinTech firm. It was on March 30, 2005, and a newly formed firm presented … The post The Finanser’s Week: 15th April – 21st April 2019 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
APRIL 25, 2019
WASHINGTON, D.C. — Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams and Comptroller of the Currency Joseph Otting said here at the FDIC’s Fintech and the Future of Banking conference on Wednesday. Both regulators said proving the necessary capital and profitability have been particularly difficult for […].
PYMNTS
APRIL 25, 2019
Back in the golden olden days of print newspapers, bad guys would regularly read the obituaries, then craft a plan to break into houses and steal valuable items during the wake or funeral. But like most analog businesses, this criminal model has gone digital. Today, the internet makes discovering and then executing creative ideas not much more than a mouse click away — which makes exploiting death for the purposes of identity fraud easy, too.
Payments Source
APRIL 22, 2019
JCPenney ended support for Apple Pay in its stores and also removed the mobile payment option from its app, a surprising reversal for a brand that offered Apple Pay in 2015, within a year of its rollout. There are multiple factors in play here.
Chris Skinner
APRIL 25, 2019
Things we’re reading today include … No More Happy Hour: Japan Bank Boss Takes Aim at Drinks Culture Is it time the Bank of England had a woman governor? Invesco counts the cost of uncertainty over Brexit Extinction Rebellion protesters stop traffic in City of London Deutsche Bank and Commerzbank … The post Things worth reading: 26th April 2019 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
APRIL 25, 2019
PayPal's P2P service Venmo has exceeded analysts' first-quarter estimates in two key areas: annual revenue run rate and number of users, according to statements from PayPal's Q1 earnings call on Wednesday. Venmo's annual revenue run rate coming out of Q1 2019, PayPal said, exceeded $300 million, compared to the more than $200 million annualized revenue […].
PYMNTS
APRIL 24, 2019
Petroleum exploration company PTT Exploration and Production (PTTEP), Thailand’s largest corporation, is collaborating with blockchain firm Ripple to integrate its technology for cross-border transactions. Reports in Ripple Coin News on Tuesday (April 23) said PTTEP and Siam Commercial Bank (SCB) are joining Ripple to accelerate cross-border transactions for PTTEP.
Payments Source
APRIL 24, 2019
Silicon Valley, New York, London and several of China’s largest cities are the world’s leading fintech hubs, but many other locales are gunning for their crown.
Chris Skinner
APRIL 25, 2019
In closing this Earth Day week, I thought I’d rectify yesterday’s depressing news about banks funding the end of our planet to talk about the banks that are doing the opposite. In fact, there are many initiatives that are trying to create finance for good from community currencies to Long … The post Doing good … find out more (a final Earth Day update) 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.
Bank Innovation
APRIL 23, 2019
For Fifth Third Bank, customer service is not just about digital transformation. The bank also wants to expand its physical retail branch footprint, according to its president and CEO, Greg Carmichael. As a result of the bank's $4.7 billion acquisition of Chicago-based MB Financial Inc., which closed last month, Carmichael noted in the Q1 earnings […].
PYMNTS
APRIL 22, 2019
Bitcoin, through the lightning network, will soon be available as an option to pay on Amazon and other eCommerce sites, according to reports. Cryptocurrency payment processing company Moon said any e-wallet that is lightning-enabled can also be used through the company’s browser extension. Moon previously allowed about 250 beta users to use crypto on eCommerce sites by connecting them through exchange accounts like Coinbase. “(The extension) will pop up a QR code and it will have the light
Payments Source
APRIL 22, 2019
PSD2 and other moves push a higher level of authentication, and are a welcome development for biometrics, according to Lina Andolf-Orup, a senior director at Fingerprints.
Chris Skinner
APRIL 23, 2019
Things we’re reading today include … A third of English people think Scottish bank notes are fake Lack of bank account ‘costs £500 extra a year’ in bills SoftBank Group looks to buy 5 pct of payment firm Wirecard: Bloomberg Financial Inclusion: Middle East & Africa The US stock market … The post Things worth reading: 24th April 2019 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
APRIL 22, 2019
Adoption of chatbots is on the rise. So are questions about how they can do more. Bank of America reported 6.3 million users of its virtual assistant, Erica, in the first quarter of 2019, up from 4.8 million the previous quarter. The AI-powered chatbot has completed 39 million interactions since its launch, the bank said. […].
PYMNTS
APRIL 21, 2019
Afghanistan is looking to boost its ailing economy with bitcoin. At the annual Spring Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund in Washington, Khalil Sediq, governor at the Central Bank of Afghanistan, told The Asia Times that Afghanistan might issue a sovereign crypto bond that uses blockchain technology.
Payments Source
APRIL 24, 2019
Until significant steps are taken toward creating a seamless and intuitive experience, blockchain will fall short of its goals, as it is unable to communicate its value.
Bobsguide
APRIL 23, 2019
At its peak in January 2018, the combined market capitalisation of cryptocurrency hit $830bn. While that figure has since declined to just over $113bn, many businesses and individuals have accrued fortunes into the hundreds of millions. The rapid escalation of cryptocurrency’s market.
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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