Bank Innovation
MARCH 27, 2018
Messaging service WhatsApp is rolling out support for QR payments in its Android beta, according to reports, with the service expected to have a wider rollout in the next few weeks. Consumers wishing to use QR payments to pay must first have WhatsApp Payments enabled, which currently supports a range of payment options across the.Read More.
Payments Dive
MARCH 27, 2018
Chris Tyghe, vice president of strategic development at Ingenico Group Canada, discusses how payments will become an integral part of the IoT experience in the coming years.
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Chris Skinner
MARCH 27, 2018
I was quite taken by a headline in yesterday’s news where Marcus Schenck, Deutsche Bank’s Co-Head of Corporate and Investment Banking, forecast that deposit accounts might disappear in the not too distant future. He was on a panel at Bloomberg’s European Capital Markets Forum and was asked by an audience member how … The post If deposit accounts disappear, what will banks do?
PYMNTS
MARCH 29, 2018
Overdraft fees have reached their highest level since 2009, which was at the end of the Great Recession. Consumers paid $34.3 billion in overdraft fees during 2017 compared to $33.3 billion in 2016, The New York Post reported. Despite the increase, consumers aren’t, in fact, overdrawing their accounts. Instead, Moebs Services says the uptick was caused by credit unions increasing their overdraft fees.
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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
Bank Innovation
MARCH 29, 2018
Blockchain technology has been talked about in banking for so long that readers here can be excused for being a bit jaded on the subject. The technology has been touted as solving just about every problem bankers face, but as Adam Ludwin, CEO of Chain, told us in San Francisco at Bank Innovation 2018 earlier.Read More.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Chris Skinner
MARCH 26, 2018
I’ve been flying around a bit and was lucky enough to find myself onstage the other day, chairing the Ant Financial Technology Forum at Money20/20 Singapore. I was honoured to accept to be the moderator of the afternoon and guess I was chosen because Alipay and Ant Financial are a … The post Ant Financial’s Strategy for AI, Blockchain, Cybersecurity and more appeared first on Chris Skinner's blog.
PYMNTS
MARCH 26, 2018
A lack of access to capital. The red tape of regulation. The burden of administrative tasks. These are all common reasons why a small business owner may struggle to grow their company, and the latest analysis on the topic certainly points to these factors as having an impact on SMB growth across the world. But the most recent research suggests entrepreneurs are also clear about what is helping them grow, and what they are looking for in terms of technology, professional support and beyond.
Bank Innovation
MARCH 28, 2018
Coinbase set the cryptocurrency world buzzing this week when it announced its intention to support for ERC20 tokens, which is the standard for smart contracts as well as tokens sold in initial coin offerings. The move comes well after the ICO wave has crested and regulatory structures have begun, however lightly at this stage, to.Read More.
Payments Dive
MARCH 26, 2018
- Actionable insights for proactive fraud management lower bank’s exposure to UPI related fraud - Sophisticated machine-learning logic enables banks to dynamically adjust risk strategies in relation to fraud - Predictive risk-score safeguards end-customers against fraud whilst enabling banks to monetize risk insights
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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
Chris Skinner
MARCH 29, 2018
A good example of that big bank thinking I referred to yesterday is Santander, and an incident that I fumed about the other day. I usually make payments to EU companies via my business account, which pays no fees on EU payments as per PSD2 and SEPA principles. However, I … The post Why big banks fail appeared first on Chris Skinner's blog.
PYMNTS
MARCH 30, 2018
UK Finance , an industry trade association, is launching an independent investigation into the way the market’s banks treat small businesses (SMBs), according to Reuters reports on Thursday (March 29). The group appointed Simon Walker to lead the review, which will specifically look at the way banks handle complaints filed by small business borrowers.
Bank Innovation
MARCH 28, 2018
The Internet of Things is notoriously insecure — unsecured, or poorly secured IoT devices have contributed to a number of cyberattacks, and these are on the rise as the number of devices increases. There are more than 8 billion connected devices today, with over 20 billion estimated for 2020. Even more worrying is the number.Read More.
Payments Dive
MARCH 30, 2018
It's time for a look back at last month's most-read articles and blog posts on Mobile Payments Today.
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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.
Chris Skinner
MARCH 28, 2018
I was reading about banks being average to poor at marketing, and wondered about it. Banks’ advertising generally is about either being cool or in love with you. Here are a few examples from British banks. Lloyds: we’re old but still here with a big horse Nationwide: we have no … The post What is the real difference between a challenger bank and an incumbent?
PYMNTS
MARCH 30, 2018
HSBC is introducing PayPal support for corporate payments across borders. An announcement Thursday (March 29) said HSBC now lets its corporate customers use PayPal for supplier payments via a partnership between the two entities. “Our collaboration with PayPal will significantly expand the payments network accessible to our clients through HSBC, allowing them to send payments to a much wider range of counterparties in a fast and efficient manner,” said HSBC Global Head of Payments in Global Liqu
Bank Innovation
MARCH 27, 2018
More startups should launch in the “niche” areas of banking that incumbent institutions have started avoiding, Ohad Samet, co-founder and chief executive officer for TrueAccord, told attendees of the 2018 Bank Innovation conference. “It’s actually not very common for a startup to be started in subprime lending, debt collection—those areas that frankly require a lot.Read More.
Payments Source
MARCH 26, 2018
Microchip implants could be considered the ultimate form of mobile payment — skipping the smartphone altogether in favor of giving people bionic abilities. And a small segment of the population is already lining up to try it out.
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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.
Chris Skinner
MARCH 28, 2018
Things we’re reading today include … Deutsche Bank Is Considering More Cuts at Investment Bank Bank of England To Test Blockchain Features For New Payment System Fintech Holds Great Promise To Expand Credit, Says Fed’s Bank Supervision Ace Bank of Korea Poll: 40% of Young Adults Enthusiastic About Cryptocurrency MPs … The post Things worth reading: 29th March 2018 appeared first on Chris Skinner's blog.
PYMNTS
MARCH 28, 2018
Adding to the list of cryptocurrencies that users can buy or trade on its platform, Uphold has announced that it has added support for Ripple ’s XRP currency. Already, users can exchange digital currencies such as bitcoin, Ethereum and Bitcoin Cash on Uphold, CoinDesk reported. Uphold’s decision comes after the company conducted a Twitter poll that revealed Ripple was the digital currency voters most wanted added to the platform out of four choices.
Bank Innovation
MARCH 30, 2018
Banks need to update their legacy systems and modernize their technology, no surprise there. But just how many operational leaders at banks think their institution’s survival depends on it? That would be 79% of operations leaders in North America banks, according to a recent report by Accenture. That’s four out of five banks. The report […].
Insights on Business
MARCH 26, 2018
At IBM Think, the premier business and technology conference, the main theme is “mankind + machine,” and during the Wednesday morning session with Ian Hurst and Sarah Diamond, IBM General Managers of Banking and Financial Markets, and Naresh Vyas, Royal Bank of Scotland Head of Solutions, that theme was on full display. A digital reinvention is underway in financial services, driven by the need for fraud prevention, personalized customer service, and the ability to keep pace with massive amounts
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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.
Chris Skinner
MARCH 27, 2018
Things we’re reading today include … Will Brexit Trigger an Exodus of Banks From London? Goldman vice chair turned down Deutsche Bank’s CEO offer Deutsche Bank Sparring Is Another Blow to the Lender Can Deutsche Bank Be Fixed? TSB to start linking to rivals’ loan deals online in bid to … The post Things worth reading: 28th March 2018 appeared first on Chris Skinner's blog.
PYMNTS
MARCH 30, 2018
It’s possible that Amazon Prime members may see more discounts at Whole Foods. The grocer reportedly displayed signs that advertised 10 percent discounts for prime members at a store in Texas, CNBC reported. The signs were reportedly placed in a store in Austin on Wednesday (March 28). But the signs had apparently been removed by Thursday (March 29).
Bank Innovation
MARCH 30, 2018
The messaging app Telegram has raised more money with its initial coin offering, logging another $850 million, the SEC reported yesterday. This brings the total amount raised via the offering to $1.7 billion, making it the largest initial coin offering in history. This follows the company’s raise of $850 million in February with its first […].
Bobsguide
MARCH 29, 2018
The customer is often considered king, but it’s debatable how many organisations embrace this perspective. Of course some are better than others, and the most successful enterprises constantly adapt to meet evolving customer expectations. Those that have followed this key business rule have.
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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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