Bank Innovation
OCTOBER 3, 2017
Technology provider Oracle is moving forward with its “open banking initiative,” a project that includes an open API framework to better allow banks and fintechs to work together on innovation. The company announced the platform yesterday during its “Oracle Open World” conference. The platform is a “platform as a service” initiative aimed at creating greater […].
Chris Skinner
OCTOBER 2, 2017
I’ve said continually that firms like Google and Amazon will never open a bank. I still believe that this will be the case – Facebook and Apple also fall into this view – and mainly hold this view because these companies would find full service banking a difficult and unprofitable … The post Do you really think that Google or Amazon want to be a bank?
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Payments Dive
OCTOBER 6, 2017
While there are pros and cons to a bank forging its own way with mobile payments outside the Pays, industry executives on a panel last month at the Bank Customer Experience in Chicago agreed financial institutions should be aware of, and explore, all developments in the industry.
PYMNTS
OCTOBER 6, 2017
The Electronic Payments Association and the Payments Innovation Alliance announced Wednesday (Oct. 5) that it released a Meeting Summary Report and Overview Document from the latest meeting of the API Standardization Industry Group. In a press release , the groups said the API Standardization Industry Group, which was formed in spring of 2017, is aiming to standardize the use of APIs in the U.S. financial services industry.
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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
OCTOBER 4, 2017
Customers who use mobile banking apps more often than their peers are likely to have a better understanding of their financials, according to research conducted by Citibank. The bank’s Mobile Banking Study, released last week, found that 65% of mobile banking users were confident that they knew the exact balance of their bank accounts, versus […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
OCTOBER 5, 2017
The rise of 'Scan and Go' technology, coupled with other industry developments, is helping retailers to overhaul the buying experience that they offer their customers. So, what do retailers need to know about Scan and Go, and what are its benefits?
PYMNTS
OCTOBER 3, 2017
Cryptocurrencies may have naysayers on Wall Street, but Goldman Sachs isn’t one of them, according to news from The Wall Street Journal. Citing people familiar with the matter, the Wall Street Journal reported that Goldman Sachs is mulling whether to launch a new trading business that is focused on bitcoin and other cryptocurrencies. If the firm moves ahead with these plans, it will be the first high-profile Wall Street company to deal directly in the bitcoin trading market.
Bank Innovation
OCTOBER 3, 2017
The Acting Comptroller of the Currency of the United States, Keith Noreika, has stated that he is considering imposing a nationwide licensing program for cryptocurrency exchanges, similar to the licensing program recently enacted in Japan. This hypothetical licensing program could put into place a nation-wide, unified regulatory framework for cryptocurrency exchange platforms.
Chris Skinner
OCTOBER 6, 2017
I just spotted that Gartner have made a series of ten bold predictions for IT 2018 and beyond. They are summarised nicely by Forbes and are: By 2021, early adopter brands that redesign their websites to support visual- and voice-search will increase digital commerce revenue by 30%. Gartner has found that … The post The next ten years of technology from Gartner and Skinner 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
OCTOBER 3, 2017
It's time for a look back at September's most-read articles and blog posts on Mobile Payments Today.
PYMNTS
OCTOBER 2, 2017
“Retail isn’t dead; it needs a revival.”. With a list of bankruptcies growing ever longer, suburbs hosting the carcasses of scores of dead and dying shopping malls and foot traffic on an ever-falling curve, it’s not hard to draw the conclusion that retail — or, at least, the brick-and-mortar version of it — is dead. But b8ta doesn’t buy it, hence the motto quoted above.
Bank Innovation
OCTOBER 6, 2017
Electronic Payments Association NACHA has named the first five APIs, chosen from a list of 16, that it will be developing in its efforts to further advancements in payments and digital finance. These APIs were chosen from a larger list that included several categories for potential development, including some that aimed to reduce fraud and […].
Chris Skinner
OCTOBER 5, 2017
I was talking about space exploration with a colleague the other day. They looked at me rather incredulously and wondered if I was a little bit barking mad. No, I’m quite serious, I explained, and put the case for the view that my children will be astronauts. Now I have … The post 100 years from now, will we look back and think how ignorant we were?
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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.
Bobsguide
OCTOBER 6, 2017
At our consultancy, we are seeing more and more big clients looking at using distributed ledger technologies to change and eventually substitute existing business processes with enhanced alternatives, and it clearly shows that the market for distributed ledger technologies grows over time.
PYMNTS
OCTOBER 6, 2017
On Thursday (Oct. 5), Alenka Grealish, senior analyst at Celent, penned an article for American Banker with a prediction: The small business (SMB) credit space is headed for a “shake-up.” The small business loan market is oversaturated, she argued, creating a “FinTech credit bubble” that first showed signs of deflating as investors pulled out of some players like CAN Capital and LendingClub in 2016.
Bank Innovation
OCTOBER 3, 2017
EXCLUSIVE— Potential homebuyers can be barred from entering the market simply because of the cost of a mortgage down payment. CMG Financial, a mortgage banking firm, is looking to change that with its new crowdfunding platform, HomeFundMe. The platform, announced by the firm yesterday, is designed exclusively to help consumers crowdfund the necessary money for […].
Chris Skinner
OCTOBER 4, 2017
Things we’re reading today include … Soaring rates of ‘shadow banking’ add to fears of Chinese debt, warns World Bank Orange is launching Orange Bank on November 2 Foiled £250m Brazil bank robbery ‘would have been biggest in the world’ U.S. lawmakers seek to shut banks that harm consumers SEC … The post Things worth reading: 5th October 2017 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.
Bobsguide
OCTOBER 1, 2017
Africa presents the ideal environment in which to evolve a new cash and payments services architecture - by linking rapidly changing customer expectations with new technologies. This puts banks squarely at the centre of mediating the creative clash of trends and technology – as Africa’s.
PYMNTS
OCTOBER 4, 2017
Rumors are swirling that Apple is currently testing Apple Pay Cash internally using iOS 11.1 and an accompanying device certificate. According to news from 9to5Mac , 11.1 was released in beta to developers last week, but not everyone received Apple Pay Cash. The new service was announced at Apple’s Worldwide Developers Conference over the summer, but the feature wasn’t included when iOS 11 launched to the public last month.
Bank Innovation
OCTOBER 5, 2017
EXCLUSIVE— Innovation is a tricky business. You want your bank to onboard customers on mobile devices, for example (good idea!) but what is the best way to do that? An imperfect implementation could lead to major problems. There are many ways to go about exploring this — you can read the research, you can compare notes […].
Chris Skinner
OCTOBER 2, 2017
Things we’re reading today include … Bank of England tells lenders to find £116bn to help prevent bailouts Exclusive: U.S. mulls further Wells Fargo sanction over sales abuses – source Banks to switch to real-time payments from Australia Day Bank of England sets out bank rescue rules Venture capitalists urged … The post Things worth reading: 3rd October 2017 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.
Let's Talk Payments
OCTOBER 6, 2017
When I was first doing research on the non-financial use cases of blockchain technology with particular examples to continue our diligent following on how it can be applied in FinServ and.
PYMNTS
OCTOBER 2, 2017
Shake Shack is going cashless with kiosks in New York City later this month. New York, according to company CEO Randy Garutti, is what the retailer considers “the playground” — Shake Shack’s go-to choice for testing out new innovations for consumers. This cashless kiosk coming soon to Astor Place will not have a cashier counter. Instead, guests will use digital kiosks to order their food — or utilize their smartphones, if they have the mobile Shake Shack app.
Bank Innovation
OCTOBER 5, 2017
The French telecom company Orange is launching an online bank, after rolling back the launch of the service for several months. The launch of the service, known as Orange Bank, will take place on November 2nd; this follows the postponements of its initial launch, which was scheduled for July 6th of this year. Orange CEO […].
Chris Skinner
OCTOBER 1, 2017
Things we’re reading today include … Two thirds of consumers don’t want to share financial data in blow to ‘open banking’ revolution Equifax reviews its top lawyer’s role in executive stock sales: WSJ Three million small businesses still don’t accept cards, despite move away from cash City managers ‘keep a … The post Things worth reading: 2nd October 2017 appeared first on Chris Skinner's blog.
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