Bank Innovation
AUGUST 6, 2018
Facebook has entered discussions with major U.S. banks in an attempt to gain access to customer data, the Wall Street Journal reports. The exact timing of the request is not clear. At a time when Facebook’s data management is under intense scrutiny, this news is unlikely to be greeted warmly by customers of those banks called out […].
Chris Skinner
AUGUST 7, 2018
I’ve spotted a couple of interesting discussions about millennials and money in the last week, both of which say that the views on them are wrong. Stereotyped as avocado-crunching, cappuccino drinking, needies, the general media view is that this is a generation spoilt by helicopter parents to grow up to … The post Millennials: STOP EATING AVOCADOS!!!
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Payments Dive
AUGUST 9, 2018
Blair Newman, chief technology officer at Bell One, explains that while augmented reality apps offer endless possibilities to engage customers not all apps are created equal. He offers up five key aspects to consider before deployment.
PYMNTS
AUGUST 6, 2018
It will never be said of Apple that they lacked a flair for the dramatic – and hitting the U.S. public market’s first $1 trillion market cap two decades after it stood on the brink of bankruptcy was a pretty good twist as far as endings go. Not all twist endings are good in payments and commerce, however. The consumers who thought they were buying from a real merchant only to find that it was a fraudster surely don’t like that last-minute reversal.
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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
AUGUST 10, 2018
The sophistication of cyber attacks on financial services continues to evolve, yet instances of long-established tactics like email phishing and malware attacks persist. A July 2018 study conducted by Proofpoint, a Sunnyvale, Calif.-based cybersecurity software company, found that email is the “most frequent source of advanced attacks.” But the attack vector has shifted slightly.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
AUGUST 10, 2018
Host Will Hernandez discusses mobile loyalty programs with Citi's managing director of customer engagement and innovation. Will also chats with Elliot Maras, editor of Kiosk Marketplace and Food Truck Operator, about the relationship between mobile and kiosks.
PYMNTS
AUGUST 6, 2018
Billboards are not going gently into that good night. In fact, the old-fashioned form of outdoor advertising is winning over digital marketing heavyweights and finding ways to thrive in the online world. Examples abound. Amid data sharing and online privacy controversies, Facebook recently promoted on billboards what Bloomberg called the social media operator’s “new approach to user safety and privacy.
Bank Innovation
AUGUST 9, 2018
Customer experience is the focus for two fintech accelerators, one run by Commerzbank the other by FIS. FIS Global, a financial services software provider that works with 20,000 banks and corporate treasury clients, has gone about improving the customer experience by offering natural language processing (NLP) solutions. This allows customers to be understood speaking in a natural way. […].
Chris Skinner
AUGUST 6, 2018
I spotted a chart the other day showing the millions of dollars lost on cryptocurrency platforms … Source: The Wall Street Journal Since 2011, there have been 56 cyberattacks directed at cryptocurrency exchanges, initial coin offerings and other digital-currency platforms around the world, according to Autonomous Research, bringing the total … The post Why cryptocurrencies are more trusted than banks 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
Payments Dive
AUGUST 7, 2018
Basic banking services have not yet reached a majority of people in rural Africa. Agency Banking can help financial institutions expand services to underserved segments.
PYMNTS
AUGUST 6, 2018
Grubhub made news a couple weeks ago when it simultaneously delivered a very strong Q2 2018 earnings report and announced the acquisition of LevelUp. The focus then and the subsequent coverage since has been on the positive impact of the LevelUp acquisition on Grubhub’s ability to diversify its platform offerings. With LevelUp, Grubhub can now offer restaurants that are part of its network order ahead/pickup in-store and new CRM/loyalty initiatives to their mobile wallets using LevelUp’s white l
Bank Innovation
AUGUST 8, 2018
Digitizing the lending process is still incomplete for banks of all sizes. A recent survey from the lending platform Lendtech, provides further evidence that banks and lending platforms must digitize the loan application and servicing process to capture today’s borrowers. LendTech, a member of the current cohort of this site’s sister accelerator INV Fintech, conducted a […].
Chris Skinner
AUGUST 5, 2018
I cannot post a 222-page PDF from the US Government on FinTech and competition without also posting a 136-page PDF from the European Commission on FinTech and competition. Also released last week, the EU document has a different focus to the US one, which allowed national FinTech charter bank licenses to be … The post The EU’s policy on FinTech competition is … 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.
Payments Dive
AUGUST 7, 2018
It's time for a look back at last month's most-read content on the site.
PYMNTS
AUGUST 6, 2018
Wells Fargo , the embattled national bank, disclosed in a Securities and Exchange Commission filing that hundreds of individuals saw their homes in foreclosure because of a glitch in software the company used. According to a report in CNN citing Wells Fargo , software it used denied mortgage modification requests incorrectly. The bank said it set aside $8 million to compensate the customers that were impacted by the computer glitch.
Bank Innovation
AUGUST 7, 2018
The Wall Street Journal has it wrong. Recent news that Facebook is in talks with banks on a solution other than “services like customer chat or account management” overlooked how the social media platform already works with banks, a representative of the social network told Bank Innovation. Facebook offers chatbot services for Citibank customers to connect to customer […].
Chris Skinner
AUGUST 8, 2018
I know I’ve written a lot about China and the Chinese internet giants for the past couple of years, whilst leaving out much of what’s happening in the USA. It’s not to say the USA is boring, but it’s not innovating at the speed, rate or scale of the Chinese … The post Venmo’s growing pains and the rise of Zelle 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.
Payments Source
AUGUST 10, 2018
PIN on Mobile (PoM) and PIN on Glass (PoG) are two of the most commonly mislabelled emerging technologies. While the two terms are treated as though interchangeable, each has differing benefits and features. They also serve merchants in a different manner, so choosing the right one for a particular business is crucial, according to David Poole, global head of mobile POS solutions for MyPinPad.
PYMNTS
AUGUST 6, 2018
Digitally native brands are trying on a new brick-and-mortar model for size: Instead of opening the doors to cavernous stores, they are opting to create smaller-format locations. When Indochino made the transition from a digital-only to an omnichannel retailer, for example, the Canadian fashion brand opted to open smaller stores called showrooms, where customers can shop for made-to-order formalwear.
Bank Innovation
AUGUST 8, 2018
Banks are backing Zelle in the P2P arms race, but it’s not other digital payments that are the enemy — it’s cash and a lack of innovation. So says Mark Ranta, head of digital banking solutions at ACI Worldwide, a company that works with 18 of the Top 20 global banks. “At the end of the day […].
Chris Skinner
AUGUST 8, 2018
Things we’re reading today include … Facebook wants you to do banking on its Messenger app Bank by bank, here’s where the hiring and firing will happen now Is Barclays Opening Crypto Trading? Activist investor Ed Bramson steps up Barclays battle with push to influence next chairman choice Lending Club: … The post Things worth reading: 9th August 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.
Insights on Business
AUGUST 10, 2018
We very much look forward to hosting the premier global financial services industry conference in Sydney, Australia from October 22-25. Given IBM’s experiences helping clients accelerate their digital transformation journey with Cloud and AI, we’re particularly excited that “Enabling the digital economy” is the Sibos 2018 conference theme. We see a market with many opportunities to create exponential advantage and produce out-sized achievements when the right business strategy is matched with
PYMNTS
AUGUST 7, 2018
Corporate travel platform Concur , owned by SAP , has integrated listings from home-sharing service Airbnb into its platform. A recent announcement from Concur said Concur Travel will now show listings available from Airbnb directly within its platform, making it the only corporate travel solution to do so, the company said. Airbnb listings will now appear alongside traditional hotels within the online travel booking solution operated by SAP Concur.
Bank Innovation
AUGUST 7, 2018
Online real estate company Zillow has entered the mortgage space. On Monday the Seattle-based company purchased Mortgage Lenders of America for an undisclosed amount. The move solidifies the company’s effort to simplify and streamline the home buying process, according to a company-issued statement. Zillow outlined that, “owning a mortgage lender will allow Zillow Group to […].
Chris Skinner
AUGUST 9, 2018
Things we’re reading today include … HSBC’s China Focus Continues To Drive Profits, But Leaves The Bank Vulnerable To Trade War Specter of Criminal Charges Raised at Australian Bank Inquiry We Wanted Safer Banks. We Got More Inequality. Goldman Sachs sued by ex-managing director who said he was whistleblower NAB … The post Things worth reading: 10th August 2018 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.
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