Sat.Jan 13, 2018 - Fri.Jan 19, 2018

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What Banks Are the Biggest Fintech Investors?

Bank Innovation

Big banks say they want to invest in fintech. But which are the ones actually putting their money on it? Well according to a report by CB Insights, of the ten bulge bracket banks, that would be Goldman Sachs. Based on the new report by CB Insights, which looked at top bulge bracket budget banks, […].

Fintech 364
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How the future of cash and digital payments is playing out in Europe

Payments Dive

This ease of contactless payments has spurred a cultural shift, embraced by the younger and more tech-savvy generations, who are happy to go for days without carrying physical cash and instead opt for their phones — even over cards. Older generations, meanwhile, typically prefer to have the option of the security of traditional physical cash.

Payments 304
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e-Estonia, a country full of e-Everything

Chris Skinner

I visited Tallinn towards the end of last year. If you’re not familiar it’s the capital of Estonia, a country that is the most advanced digital economy in Europe. This all began due to a hack ten years ago, when intrepid Russians were commissioned to destabilise the country’s economy. This … The post e-Estonia, a country full of e-Everything appeared first on Chris Skinner's blog.

Capital 302
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The Data Behind B2B Payments’ API Excitement

PYMNTS

From market pressures in the U.S. that have encouraged data sharing between banks and FinTechs to regulations in the U.K. and EU like Open Banking and PSD2 that require such cooperation, APIs are emerging as an essential piece of the equation for payments innovation. That rings especially true in the areas of B2B payments and cross-border payments, which are complex, require the movement of data along with funds, and often involve multiple parties that have to all be on the same page about a tra

Data 193
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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

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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Indian Consumers Prefer Biometrics over PINs for Authenticating Payments

Bank Innovation

Indian consumers prefer biometrics to PINs or passwords to authenticate payments, a new report by Visa suggests. According to the report, 99% of those surveyed said they would like to use at least one biometric form of authentication (fingerprint, voice recognition, eye scan, etc.) to make payments. The reason for this overwhelming support in favor […].

Payments 361

More Trending

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11 decisions that made a challenger the best bank on the planet

Chris Skinner

I’ve been in touch with Colin Iles in South Africa for a while now. Formerly the head of client strategy at Barclays Africa (ABSA), he’s now been working on a new bank called Capitec. I say new, it’s actually been around for 17 years, but it is interesting that for … The post 11 decisions that made a challenger the best bank on the planet appeared first on Chris Skinner's blog.

Strategy 287
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NEW DATA: Retail Kiosks — The Next Billion-Dollar Industry

PYMNTS

One might just call this the age of unattended retail. Increasingly, retailers and other merchants are looking to give customers a more convenient and efficient experience by offering products and services via unattended kiosks. These machines mean that customers can interact with merchants more quickly, without having to waste time standing on a long line or dealing with a slow-moving employee.

Retail 187
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What you Should Know about Europe’s Big Payments Regulation PSD2

Bank Innovation

EXCLUSIVE – After more than two years of planning, Payments Services Directive II or PSD2 finally arrived in Europe on Saturday. The regulation has been dubbed as one of the more substantial regulatory changes of its kind in Europe. While many traditional banks and FIs might not be thrilled about having to open their APIs […].

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LG Pay brings more questions than answers

Payments Dive

The pending arrival of another mobile wallet in the U.S. raises some questions about how a new entrant can succeed among a growing number of options in the market.

Mobile 220
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The State of Automation in Financial Services 2024 Report

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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Innovation with compliance is difficult

Chris Skinner

I’ve been at a few conferences this week, and was amused by an audience poll at one event. The moderator first of all asked: Do you believe that the regulators are in the incumbent’s pockets and protect the industry from new competition? You may find it gratifying that most of … The post Innovation with compliance is difficult appeared first on Chris Skinner's blog.

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How Data Builds A Foundation For Commercial Bank/FinTech Collaboration

PYMNTS

The corporate expense management market doesn’t look like it once did. The traditional strategy of handing an employee a corporate card, hoping they make responsible purchases and depending on accurate expense reports has evolved into a market that embraces automation, artificial intelligence, mobility and an array of card products, from P-cards to virtual numbers.

Fintech 187
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Bank of America Has More Blockchain Patents than IBM

Bank Innovation

Bank of America has more blockchain-related patents than any other firm in the U.S., according to a new report by New York-based law firm EnvisionIP. According to the report, Bank of America has 43 patents while Mastercard and IBM have 27 each, followed by 14 from Fidelity. The report counted a total of 1,045 blockchain […].

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How Santander will use Ripple to execute cross-border payments | Analysis of the deal

Bobsguide

Ripple has caused quite a stir (we resisted the pun) in the cryptocurrency market. Recent dips and spikes of XRP, Ripple’s cryptocurrency, have caused many commentators to question the long-term durability of the currency. However, few can deny that Ripple is being closely watched by the.

Analysis 158
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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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Bitcoin: More electricity consumption than the entire planet?

Chris Skinner

I am tempted to predict the price of bitcoin for the end of 2018 but know I’d be wrong, so I’m not. It could be $1 or $1 million. I’m not going to forecast it, as there are over 1,000 digital currencies out there and who knows which will be … The post Bitcoin: More electricity consumption than the entire planet? appeared first on Chris Skinner's blog.

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Amazon Raises Monthly Prime Membership Fees By 18 Percent

PYMNTS

Two years after Amazon launched monthly Prime memberships, the eCommerce retailer is increasing its monthly membership fees by nearly 20 percent, Recode reported. The monthly fee for Amazon Prime will jump from $10.99 to $12.99 in the U.S., which works out to an increase of 18 percent. On an annual basis, monthly memberships will now cost consumers $156 a year.

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3 Fintech Predictions for 2018 [SPONSORED]

Bank Innovation

Rarely a day goes by that the financial industry isn’t being infused with the latest and greatest technologies. Fintech, or the marriage between finance and technology, is several decades in the making. For market participants, this means a world of possibilities. While it’s nearly impossible to predict what the latest fintech breakthrough will deliver, at […].

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10 Banking Channel Metrics That Have Dramatically Changed in 10 Years

Gonzobanker

It shouldn’t be hard to convince you that the banking industry has changed dramatically over the past 10 years. The introduction of smartphones kick-started the mobile banking revolution, the financial crisis brought on a world of regulatory pain, and the emergence of fintech startups threatens to disrupt, displace and, well, “diss” banks altogether.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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Things worth reading: 15th January 2018

Chris Skinner

Things we’re reading today include … Open banking? I think I’ll be keeping my door shut ‘Open Banking’ revolution will leave account holders at mercy of ‘hackers and thieves’, banks warn ‘Open banking’ begins today. It poses one major threat to your money Boom time: Clear Bank founder Nick Ogden … The post Things worth reading: 15th January 2018 appeared first on Chris Skinner's blog.

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Can Crypto Change The Music Industry?

PYMNTS

Musicians have a complicated relationship with monetizing their art. They create the songs, but the record labels that distribute them tend to own the song catalogs, which, over the decades, has led to a series of thrilling legal disputes over ownership. Think Paul McCartney’s now 40-year fight for the rights to the Beatles albums , or Prince’s decade-long standoff with Warner Brothers.

Industry 167
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Fintech Innovation is Top Concern for Banks, EY Says in Banking Outlook Report

Bank Innovation

While regulations continue to be top of mind for financial institutions, banks have another main concern: the innovations and progress being made by fintechs, according to a survey released by EY. Financial institutions need to be more aware of the effect fintechs—which provide “simpler, more convenient, more transparent” services, are having on the industry, EY […].

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What will define the era of open APIs?

Bobsguide

Every time we open a banking app to make transactions or payments, Application Programming Interfaces or APIs come into play to connect to the bank servers. Though APIs function in the background, they directly impact how the apps or websites work, and are crucial to provide safe, secure and.

Security 144
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

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.

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#Brexit, Banking and Equivalence

Chris Skinner

As usual, the Financial Services Club was delighted to host David Doyle as our starting speaker for 2018, and he presented a fine overview of all the things bubbling as top of the agenda in the European Union’s regulatory plans for 2018. Led by the Bulgarian presidency, the agenda focuses … The post #Brexit, Banking and Equivalence appeared first on Chris Skinner's blog.

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There’s A (Ro)Bot For That

PYMNTS

The American psyche has a complicated relationship with robots. On the one hand, we love robots. When we think about our happier futures, friendly, helpful robots are often envisioned beeping and bopping in the background, quietly improving our lives. Rosie from “The Jetsons,” the “Danger, Will Robinson!” bot from “Lost in Space,” “WALL-E,” Johnny 5 from “Short Circuit,” R2-D2 (C-3P0 and BB-8) from “Star Wars” — popular culture is filled with robots we love.

Maine 160
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New App Emma Seeks to Be the Only Banking App on Your Device

Bank Innovation

EXCLUSIVE – There’s a new banking app in town – Emma. The British fintech company, which is still in beta, is gearing up for its launch in the U.K now that it received FCA approval to operate under the new PSD2 mandate. “This is a big deal for us,” Emma co-founder and CEO Edoardo Moreni […].

Fintech 287
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TSYS ready to move into retail with Cayan tech

Payments Source

With merchant services provider Cayan firmly under its umbrella, Total System Services is prepared to venture deeper into retail acquiring and processing through Cayan's omnichannel Genius platform.

Retail 129
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Addressing Top Enterprise Challenges in Generative AI with DataRobot

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.