Sat.Dec 10, 2016 - Fri.Dec 16, 2016

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11 Ways Fintech and Banking Will Change in 2017

Bank Innovation

It’s almost time to wave goodbye to 2016. This was a big year for fintech, with new regulations, new startups, and new technologies displayed across events like Sibos and Money20/20, making it clear that the progress of fintech can’t really be stopped. But how will it continue? That’s the real Read More.

Fintech 293
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Digital gift cards a hit this holiday season

Payments Dive

A First Data study reveals e-gift card usage is on the climb, driven by those ages 18 to 34. The biggest card buyers are those ages 35 to 54. The main reason is convenience.

Cards 276
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Open Banking consultation (deadline December 23 2016)

Chris Skinner

I’ve been talking a lot about open sourcing financial services this year and, more recently, tracking Open Banking. The Open Banking Working Group was launched just over a year by HM Treasury to create an Open Banking Standard. The standard is meant to guide how open banking data should be created, shared and used by its owners and those … The post Open Banking consultation (deadline December 23 2016) appeared first on Chris Skinner's blog.

Groups 253
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Making The Swych From Plastic Gift Cards To Mobile, Digital Ones

PYMNTS

The holiday shopping season is well upon us, and the eternal question remains: How does a gift giver make sure that the gift receiver feels as though they have received the perfect gift? Gift cards may seem a logical answer. They can be picked up in a hurry and can be used at the recipient’s choosing in terms of time and place. But not brand. Therein lies a conundrum.

Cards 198
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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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Walmart Uses Prizes to Help Its MoneyCard Customers Save

Bank Innovation

Walmart, in partnership with Green Dot, today announced “Prize Savings,” a cash rewards savings program conducted through its Walmart MoneyCard product. Walmart and Green Dot, which issues the retailer’s cards, partnered with national organization Commonwealth on the offering, a firm which has created PLS (Prize-Linked Savings) programs that have generated Read More.

National 246

More Trending

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British bank branch network decimated with move to mobile

Chris Skinner

Building on yesterday’s news, the consumer research organisation Which? just released a report with a whole bunch of stats on UK bank branch closures. Over 1,000 branches have closed in the last two years, with HSBC being most aggressive, shutting over 27% of their network. Source: BBC A total of 1,046 branches – equivalent to … The post British bank branch network decimated with move to mobile appeared first on Chris Skinner's blog.

Mobile 227
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Keeping Pace With Supply Chain Evolution

PYMNTS

Just as businesses need to keep pace with the change of technology, the technology providers that help businesses remain successful need to stay ahead of the curve themselves. Corporations are scaling globally, integrating complex supply chains, working with small suppliers, ensuring international compliance and gaining access to more data than ever before.

Big Data 194
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Visa and Mastercard Join Forces to Tokenize Digital Payments

Bank Innovation

Visa and Mastercard may compete strenuously for business, but today they’re announcing a collaboration in the mobile wallet sphere. The two companies issued simultaneous announcements today describing how Masterpass and Visa Checkout can just get along. In case you’re wondering how the annoucements compare in their treatment of their competitors, we’ve reproduced the Read More.

Payments 230
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Carrier Billing to 2020 – Looking to the Future of Carrier Billing

Payments Dive

Carrier Billing has massive potential as a revenue stream for both Mobile Operators and content providers. Carrier Billing is a huge growth market, set to be worth over $25bn by 2020 with no signs of levelling off according to a report by Ovum.

Mobile 239
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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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The impact of #Brexit on the City and Fintech London

Chris Skinner

So we finished the Financial Services Club season with a discussion of the implications of Brexit on the City of London and Fintech London, with a panel debate amongst four stellar people: Sharon Bowles, former MEP and now Baroness Bowles of Berkhamsted; Lawrence Wintermeyer, CEO, Innovate Finance; Jeremy Light, Managing Director, Accenture Payment Services; and … The post The impact of #Brexit on the City and Fintech London appeared first on Chris Skinner's blog.

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New Yahoo Data Breach

PYMNTS

In what feels like déjà vu, there’s more bad news for Yahoo users. The company announced Wednesday (Dec. 14) that a new cybersecurity breach incident has affected over a billion of its users and their private data. Reportedly, an unauthorized third party stole data associated with the more than 1 billion Yahoo user accounts back in 2013. This billion-user figure means this newest hack is the largest data breach in the digital era.

Data 190
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Why FIs Should Be Worried About Ransomware

Bank Innovation

$209 million dollars. That’s the amount of money criminals made in the first three months of 2016 through the deployment of ransomware—a type of malware that locks a computer or other connected device until the affected party pays up, and which is becoming more and more popular as a choice Read More.

Software 230
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How FIs are 'repurposing' technology in the branch

Payments Dive

At the 2016 BCX Summit, Julie Conroy of Aite Group discussed the movement among FIs to drive mundane branch transactions to self service devices.

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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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The Illusion of Payment Disruption

Let's Talk Payments

There has been growing discussion over the past few years on the new transaction rails, and how the Internet has disrupted payments just like other industries. Unfortunately or fortunately, the.

Payments 119
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Nearly Two-Thirds Of Americans Already Own An IoT Device

PYMNTS

The Internet of Things may be a burgeoning industry, but according to a new survey by IAB, nearly two-thirds of American consumers, or 62 percent, already own at least one IoT device. What’s more, 65 percent of those surveyed who own IoT devices said they are willing to receive ads on their IoT screens. In a press release highlighting the survey results, IAB said 62 percent of survey respondents said they already see ads on IoT -connected gadgets.

Survey 174
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Introducing Digital Identity Week on Daily Fintech

Bank Innovation

Are you really sure I am not a dog? Maybe I am a really smart dog with an AI implant pretending to be a human. Disclosure, Daily Fintech is written by a stealth mode AI venture as a proof of concept. Seriously folks, you cannot know my Identity. To read Read More.

Fintech 228
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Will failing to adopt blockchain put you behind the competition?

NCR

It’s not unusual to hear at the moment that blockchain technology could be the next big thing in financial services. Originally developed as the foundation for the digital currency Bitcoin, the blockchain is a distributed ledger system that maintains records of transactions, which are protected from tampering and revision. It has many potential applications in banking – facilitating international payments and settlements, for example.

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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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Facing the challenges of data management in financial services

Bobsguide

In the information age, a company’s data is its greatest asset. Good data management has long delivered for financial institutions in the areas of analytics, market surveillance and risk modelling, but as emerging financial technology companies face an entirely different set of challenges.

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IBM Creates Blockchain Ecosystem

PYMNTS

IBM is getting into the blockchain game, announcing Friday (Dec. 9) it launched a blockchain ecosystem aimed at accelerating the creation of blockchain networks. In a press release , IBM touted blockchain, saying it has the potential to transform the way all sorts of industries conduct business transactions. In order for it to take off, IBM contends there needs to be a complete ecosystem of industrial players all working together.

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D+H, RBC Launch Lending Simulation for Better Performance

Bank Innovation

Financial technology solutions provider D+H has launched Barometer today, a software-as-a-service assessment and training solution for lenders, in partnership with the Royal Bank of Canada, which is one of the largest financial institutions in the country. Both companies are based in Toronto. “Barometer is a lending simulation, the first of its Read More.

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CFPB issues brief on consumers without credit histories or credit scores

CFPB Monitor

John L. Culhane, Jr. In May 2015, the CFPB issued a report, “ Data Point: Credit Invisibles ,” that documented the results of a research project undertaken by the CFPB to better understand the demographic characteristics of consumers without traditional credit reports or credit scores. The report concluded that the current credit reporting system is precluding certain populations from accessing credit and taking advantage of other economic opportunities.

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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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2017: Small firms will continue to be big disrupters

Bobsguide

As we look ahead to 2017, one thing is clear: words like “disruption” and “fintech” will continue to shape our industry. Disruption is a radical form of change that occurs not just when a new technology arrives on the scene, but when visionaries see potential in it to.

Fintech 100
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Bitcoin Tracker: Coinsource

PYMNTS

The price of bitcoin has continued its December climb this week. Bitcoin is at its highest value since early Feb. 2014. After a drop into the mid-760s on Sunday (Dec. 11), bitcoin rose to a weekly peak of $788.49 on Tuesday afternoon. The remainder of the week was spent lolling about in the mid to upper 770s. The current value of bitcoin at the time of writing was $777.14. —.

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Breaking Banks: Fintech, From Helsinki to Tokyo [VIDEO]

Bank Innovation

In this episode, which aired Dec. 9, host Brett King talks augmented reality and artificial intelligence, and what effect the increased presence of that technology will have on financial services. King recently attended the SLUSH conference in Helsinki Finland before migrating to the Fintech Japan event in Tokyo. At both Read More.

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Quality Data Is a Key Innovation Enabler and a Foundation for AI Adoption

Let's Talk Payments

Amid the craze of adopting big data and analytics for a competitiveness boost, businesses fall for the risk of omitting the assessment of the quality of information piled up on.

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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.