Bank Innovation
MARCH 10, 2017
SAN JOSE, Calif. — Chatbots and IoT could reach the fullest impact on the banking world by working within the existing financial infrastructure, instead of trying to disrupt it, according to an expert panel at Bank Innovation 2017. These technologies should be thought of as additional channels connecting consumers, clients, and issuers to the financial […].
Chris Skinner
MARCH 7, 2017
I’ve just been alerted by friend Gijs Boudewijn to the release of a fascinating white paper by BIS, the Bank for International Settlements (the guys who do Basel stuff and are big cohonez in banking circles). Their Committee on Payments and Market Infrastructures released Distributed ledger technology in payment, clearing and settlement: an analytical framework last week, and I just read it.
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Payments Dive
MARCH 10, 2017
Every ATMIA conference has its trending topic du jour. This year, the buzz was about cardless ATM transactions, a subject addressed in a well-attended 1-hour roundtable discussion among executives leading the charge to a card-free future.
Abrigo
MARCH 9, 2017
Guest Post By Paige Chapel, President & CEO, Aeris Most banks recognize that their enterprises can only thrive if their customers also do. And to thrive, those customers need economically diverse and healthy communities in which to live and work. Partnering with local organizations to promote the health of those communities is often a top priority for banks.
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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 9, 2017
Privacy and fraud are still a concern among consumers when it comes to mobile payments. Business executives, however, don’t seem to take those concerns quite as seriously. A study conducted by Oxford Economics found that among consumers globally, 70% fear hackers could steal their personal information when they use a mobile wallet, and 67% worry […].
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
MARCH 7, 2017
Fraud remains a risk that mobile payments providers, as well as consumers, need to be aware of and take measures against.
PYMNTS
MARCH 4, 2017
The B2B payments industry is finally beginning to hustle when it comes to technological innovation. And as traditional financial institutions (FI) begin to view the value of collaborating with FinTechs, these banks can similarly shake their reputation for being innovation laggards and promote B2B payments progress while they’re at it. . This industry is on the cusp of some major innovation, too, as FinTechs roll out services that banks can offer to their own customer clients via APIs.
Bank Innovation
MARCH 9, 2017
2016 was a big year for Blockchain. The hype around Blockchain was palpable, and we saw news from all around the world about various initiatives picking up steam. While this entry is not meant to provide a comprehensive state of *all* of the consortiums out there, I am attempting to capture the ones that seem […].
Chris Skinner
MARCH 9, 2017
I got a laugh the other day when I referred to Grade II Listed Banks, but I was serious. For overseas readers, we have a system in Britain of listing heritage buildings. They have various grades which restrict what you can do with them. Grade I means you can’t really change the building at all, whilst Grade II is slightly more flexible, but probably wouldn’t allow you to add a sauna or swimming pool if it’s not in keeping with the period the house was built.
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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
MARCH 8, 2017
Driven by the launch of platforms such as Android Pay and Samsung Pay, and a sharp increase in consumer demand, the value of mobile payments is projected to top $1 trillion in 2019. However, consumers’ security concerns have been one of the barriers to mainstream adoption.
PYMNTS
MARCH 8, 2017
With hundreds of billions of dollars changing hands each year, B2B banking and payments is a big, big deal. According to industry research, the B2B payments industry moves roughly $550 billion each year, making up roughly half of the $1.2 trillion global payments market. . Despite all that exchange of funds in the B2B market, the banking industry has a reputation for being a bit behind the times technologically — and it may be justified.
Bank Innovation
MARCH 9, 2017
Nova Credit took top honors at the PitchIt 2017 competition on Tuesday, a global fintech faceoff sponsored by LendIt and 500 Startups. Nova competed alongside seven other startups tackling the underbanked in Africa, overdrafts, commercial real estate lending, finance for freelancers, compliance, and blockchain-based lending. Nova Credit targets super-prime borrowers from abroad.
Chris Skinner
MARCH 10, 2017
I was having a conversation with a friend about the issues at Monzo this week (among others). Their third-party payments processor had an outage at the weekend so the cards couldn’t be used. Then they had crashes on Android and lost payments in the app. It’s a challenge being a challenger. However, the reason for sharing this here is not to have a dig at Monzo – we like those guys – but to raise an issue I had not thought of before.
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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
MARCH 9, 2017
With an estimated $817 billion expected in digital travel sales globally by 2020, airlines are missing significant revenues by failing to exploit the potential of mobile commerce and payment innovation.
PYMNTS
MARCH 4, 2017
The B2B payments industry is finally beginning to hustle when it comes to technological innovation. And as traditional financial institutions (FI) begin to recognize the value of collaborating with FinTechs, these banks can similarly shake their reputation for being innovation laggards and promote B2B payments progress while they’re at it. . This industry is on the cusp of some major innovation, too, as FinTechs roll out services that banks can offer to their own customer clients via APIs.
Bank Innovation
MARCH 7, 2017
SAN JOSE, Calif.– Has banking had its “Uber moment,” or is the industry still waiting? This was one of the key questions debated by the fintech professionals attending Bank Innovation 2017, currently taking place here. Uber, for the uninitiated few, sparked a worldwide shift in its industry after its founding. Since then, its reputation has had […].
Chris Skinner
MARCH 5, 2017
This week’s main blog headlines are …. The FinTech Wave, Part One I wrote a blog the other day for The Next Web. I thought it was ok, and it has gained a lot of traction socially. Apparently, people like it and here I’m going to expand upon the basic theme to give a detailed analysis of how … The FinTech Wave, Part Two As mentioned in the first part of these two pieces, we talk a lot about FinTech.
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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
MARCH 6, 2017
David Poole, Business Development Director, MYPINPAD. Identity and verification are interlinked concepts which have a critical role in the continued digital evolution of retail banking. From showing photographic ID to completing a transaction in person, to demonstrating proof of address when.
PYMNTS
MARCH 10, 2017
LendingHome, the San Francisco mortgage company, is aiming to expand its market for loans by going after first-time homebuyers. According to a report in TechCrunch , LendingHome launched a new financing product that lets people shopping for a home get an interest rate estimate and apply over the internet, without having to fill out paperwork or deal with a loan officer who will typically ask a lot of questions and put would-be borrowers through all the paces.
Bank Innovation
MARCH 8, 2017
SAN JOSE, Calif. – Facebook payments revenue stream has been on a steady decline for years now. In terms of revenue, Facebook is an advertising company. Last year, the social media giant introduced payments via dozens of bots in its Messenger platform, which (some thought) could in time revive the payments revenue stream for Facebook. […].
Chris Skinner
MARCH 7, 2017
Things we’re reading today include … China’s banking system overtakes eurozone to become the biggest in the world Big four banks passing the buck on open data regulation Shawbrook Bank rejects £825m takeover offer Deutsche Bank shares hit by cash call Banking jobs denied to young people due to having ‘wrong accents’ PwC in robust defence in MF Global malpractice suit Which nation is growing richer the fastest?
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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
MARCH 10, 2017
It’s common knowledge that all generations have not sufficiently planned and saved for retirement. Wealth management firms have been scrambling to encourage more planning and saving, but many of these efforts are likely to fall short of their objectives. Why? In a recent survey, IBM found that pre-retirement individuals of all ages are “too jammed to plan.” Close to two-thirds of survey participants feel they have not been sufficiently involved in retirement planning, and of
PYMNTS
MARCH 10, 2017
Developing and deploying faster payments initiatives is top of mind for many countries around the globe, but making those talks a reality is a whole different story. In the U.S. market specifically, it’s up for debate whether the many faster payment schemes are actually complementary or conflicting. With so many initiatives at play, a schism has been created between creating entirely new infrastructure or building on top of what exists.
Bank Innovation
MARCH 8, 2017
SAN JOSE, Calif. — Blockchain – or the distributed ledger technology – is rushing out of test labs, and into real-life applications. In fact, in the last quarter alone there were 50 publicly announced proof-of-concept projects, with more than 120 participants, according to CoinDesk. Experts foresee that blockchain will take over money transfers, and will […].
Chris Skinner
MARCH 6, 2017
Things we’re reading today include … 200-year-old bank note stolen from a museum in the 1980s is sent back to bemused staff in an envelope covered with Caribbean stamps How to start your own bank Survey finds rise in ‘bank of mum and dad’ lending £11bn Standard Life and Aberdeen merger driven by weakness, analysts warn Deutsche Bank tests investor patience with $8.5 billion cash call ‘Super equivalence’ needs new international regulator, says City Bank staff trained
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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