Why Nations Fail

Chris Skinner

Robinson from the University of Chicago and co-author of Why Nations Fail, a book that changed thinking about what makes for successful countries and what makes them fail. I had … The post Why Nations Fail appeared first on Chris Skinner's blog.

When national currencies fail (cryptocurrencies rise)

Chris Skinner

… The post When national currencies fail (cryptocurrencies rise) appeared first on Chris Skinner's blog. Venezuela is the latest country to spin into hyperinflation, showing the same signs as the meltdown in Zimbabwe that created the 100 trillion dollar note.

National Payments Corp. Of India To Verify WhatsApp Compliance

PYMNTS

The National Payments Corp. Digital Payments Audit compliance india National Payments Corp. of India is reviewing an audit report to ensure WhatsApp complies with local rules. “We

US Treasury Secretary Sees Libra As National Security Threat

PYMNTS

Treasury Secretary Steven Mnuchin believes that Facebook’s proposed cryptocurrency could pose as a national security threat.

Punjab National Bank Discovers Second Defrauder

PYMNTS

Punjab National Bank revealed that it had been defrauded $556 million from a struggling borrower, Bhushan Power & Steel, according to a report by The Wall Street Journal. Punjab National Bank said it was expecting to get some of the money back, although it didn’t specify how much.

Mumbai Bus Operator To Test India’s National Transit Card

PYMNTS

India’s One Nation One Card will be test-piloted with Mumbai bus operator BEST in November, NFCWorld reported on Tuesday (Aug. The national transit card system uses a bank-issued card that will run on India’s RuPay payments network, the news outlet said.

Chinese National Charged In Anthem Data Breach

PYMNTS

prosecutors have charged a Chinese national for his alleged involvement in the 2015 data breach at health insurance company Anthem , which led to the theft of 78.8 Legal Anthem Chinese national data breach hacker health insurance indictment legal News PII privacy What's Hot

Inside First National Bank of Omaha’s seven-person innovation lab

Bank Innovation

First National Bank of Omaha (FNBO), with $20 billion in assets and 5,000 employees, is building out its seven-person innovation group within the bank's namesake skyscraper in Omaha, Nebraska.

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Lawmakers Hit A Wall In Creating National Privacy Law

PYMNTS

to come up with a national privacy law have hit a wall, with Senators unable to agree on how strict the rule should be. If Congress comes up with a national law, the tech companies hope it will override what California has on the books. Efforts from lawmakers in the U.S.

An Innovative Nation is a Connected Nation

Let's Talk Payments

The value of connectivity is difficult to overestimate – nations that are most successful in innovation adoption are the most connected nations, where the rate of internet penetration and mobile.

Applebee’s, DoorDash Team Up For National Delivery

PYMNTS

Applebee’s has announced that it has partnered with DoorDash for national delivery, the company said in a press release. Even though Applebee’s has launched its national delivery service, on-premise dining is the core of the business, and it’s likely to remain as such in the near future.

Mastercard General Counsel Tapped To Chair National Urban League

PYMNTS

The world of payments has provided a new leader to the National Urban League. Murphy was elected to the post during the National Urban League’s Board of Trustees quarterly meeting in New York City. Mastercard financial inclusion MasterCard National Urban League News What's Hot

Patriot National Hits Regulatory Snag In SBA Platform Plans

PYMNTS

Community bank Patriot National has hit a regulatory roadblock in its plans to launch a Small Business Administrative platform, but reports in American Banker on Thursday (March 13) said the financial institution remains undeterred by the challenge.

National Bank of Australia Adds Google Pay

Bank Innovation

National Australia Bank (NAB) today added Google Pay to its roster of mobile payments services. NAB customers can now use Google Pay to make contactless payments.

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JPMorgan Chase and National Bank of Canada Complete Blockchain Test

Bank Innovation

and the National Bank of Canada (NBC) announced today that they tested a debt insurance simulation on a new blockchain platform. JPMorgan Chase & Co.

Mastercard Protests Payments ‘Nationalism’ In India

PYMNTS

government over the use of nationalism by the government in India to promote a domestic payments network there. ” Modi has said that using RuPay is akin to offering a service to the nation, given the fees associated with the use stay in India.

Wegagen Bank Teams With WorldRemit; Hatton National Bank Unveils eWallet

PYMNTS

Hatton National Bank PLC unveiled the rollout of HNB Solo in Sri Lanka , personal remittances from overseas Filipinos (OFs) are on the rise in the Philippines , and Canadian bank CIBC is launching a new small business platform called CIBC SmartBanking for Business.

KCB to acquire National Bank of Kenya

Bankelele

KCB has made an all-share offer to acquire National Bank of Kenya in a not too unexpected move. The post KCB to acquire National Bank of Kenya appeared first on Bankelele. Kenya’s largest bank will acquire the private, but state-controlled, NBK that was wrestling with an undercapitalized position. KCB will acquire NBK, which has assets of Kshs 115 billion by offering 1 share for every 10 NBK shares. KCB […].

Rebeca Romero Rainey: You are the backbone of our nation’s financing

Independent Banker

When I think about how the lending market has changed over the past decade, there is one consistent theme—community banks have been, and continue to be, the backbone of our nation’s financing.

Bump On The Road To National FinTech Charters?

PYMNTS

The news came Thursday (May 2) that, per a ruling in federal court in New York, the State Department of Financial Services can move forward with a suit that looks to derail national bank charters for FinTech companies. The suit can proceed.

How Chile's BancoEstado keeps cash available to entire nation

ATM Marketplace

Chile's government-owned BancoEstado relies on a correspondent banking system to offer its services across the country. Operating as simplified bank branches in urban and rural settings, the bank's CajaVecina network provides low income Chilleans access to cash when and where they need it

National Bank Of Canada Blockchain Pilot Eyes Trade Finance Contracts

PYMNTS

The National Bank of Canada , the country’s sixth-largest bank, is collaborating with business consulting and IT company CGI to launch a blockchain-powered trade finance solution.

National Oil IPO?

Bankelele

The post National Oil IPO?

Israel Considers Issuing National Cryptocurrency

Bank Innovation

The Israeli government is creating its own “digital shekel,” according to multiple reports. The move is apparently driven by the desire to reduce black market activity, which makes up 22% of the country’s GDP, the report says.

National Australia Bank Cuts 6,000 Jobs, Shifts Staff to Digital

Bank Innovation

The National Australia Bank today announced it is slashing its workforce by 12%, or 6,000 job losses, over the next three years. Exclusive Online National Australia Bank Nordea

Apple Launches National Parks Initiative

PYMNTS

Apple has announced a new initiative that will help its customers support and enjoy America’s national parks. 24 through 31, the company is donating $1 to the National Park Foundation for every purchase made with Apple Pay at any Apple Store, online at apple.com or through the Apple Store app in the U.S. The App Store will also spotlight a collection of some of the best apps to help users explore the country’s national parks.

2019 To See Increase In Nation-State Cyberattacks, Ransomware

PYMNTS

There will also be a significant increase in nation-state attacks, infecting routers and networks connected to storage devices worldwide, while terrorist-related groups will work to carry out cyberattacks on cities through Crimeware-as-a-Service (CaaS).

Island Nation Mauritius To Set Up Fintech Fund

Bank Innovation

The island nation of Mauritius will now have a sovereign fund dedicated to investment in fintech.

SGR enters the Nairobi National Park

Bankelele

Kenya’s National Land Commission (NLC) has again published a list of land titles it is seeking to acquire on behalf of Kenya Railways for the construction of Phase 2A of the Standard Gauge Railway (SGR) between Nairobi and Naivasha.

LaCroix Maker National Beverage Corp. Reports Drop In Sales

PYMNTS

Marking its first fall in quarterly sales in half a decade, LaCroix sparkling water maker National Beverage Corp. We are truly sorry for these results,” said National Beverage Corp. Retail earnings LaCroix National Beverage Corp.

China Creates National Cyberattack Database

PYMNTS

China revealed that it is creating a national cyberattack database and will require telecom firms, internet companies and domain name providers to report any threats to it.

Blockchain’s Inroads Through National Frameworks And Trade Finance

PYMNTS

Blockchain is increasingly being separated from cryptocurrency, with an eye toward disparate use cases — some done at the national level.

Digital Services Mean Every Bank Is a National Bank

Bank Innovation

But the most significant revelation from the company’s earnings call yesterday may be that digital banking allows any bank to become national.

The CFPB Settles With National Credit Adjusters

PYMNTS

The Bureau of Consumer Financial Protection announced late last week it settled with the National Credit Adjusters , a private company, as well as its chief executive and part owner Bradley Hochstein. CFPB Debt Collection National Credit Adjusters News security & fraud What's Hot

Square Partners With Washington Nationals To Offer In-Seat Concessions

PYMNTS

Payments company Square has partnered with the Washington Nationals and Levy Restaurants to let fans order concession menu items right from their seats, according to reports. “The Nationals take pride in delivering a first-class experience,” he said.

National Bank Responds to KCB Takeover Bid

Bankelele

National Bank of Kenya (NBK) has published a circular over the proposed takeover by the KCB Group. The post National Bank Responds to KCB Takeover Bid appeared first on Bankelele. KCB has also now published their own circular for NBK shareholders, that has been approved by the CMA and which details their side of the deal. NBK Circular Highlights: The board of NBK recommends shareholders approve the Kshs 9 billion […].

First National Bank Of Omaha Shutters NRA Visa Card

PYMNTS

First National Bank of Omaha announced that it is not renewing a contract with the National Rifle Association (NRA) to offer customers an NRA-branded Visa card. First National Bank of Omaha offered two NRA cards with a $40 bonus and promoted it as “enough to reimburse your one-year NRA membership!” ” Customers lashed out at the bank via Twitter, promising to take their business elsewhere if First National didn’t cut ties with the NRA.

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National Funding Explores AltFin’s Uncertain Growth Trajectory

PYMNTS

However, Dave Gilbert, founder and chief executive officer of SMB alternative lending firm National Funding , said he’s seen a trend of growing traction within the small business community. B2B Payments alternative finance alternative lending B2B Banks economic growth FinTech loans National Funding News regulation SMB SMB finance working capital

Varo Money Raises $45M To Become ‘A National Bank’

Bank Innovation

Startup Varo Money has raised $45 million for its plans to become a full-fledged, “national bank,” the startup announced yesterday. The funds will go towards marketing its service as well as for laying “the foundation” to become a bank, company CEO Colin Walsh told TechCrunch.

Cannabis Firm Caliva Eyes National Growth With Jay-Z Partnership

PYMNTS

In a move that is said to help the company grow across the nation, California cannabis firm Caliva has teamed up with Jay-Z. Caliva recently announced that the rap star will serve as the company’s chief brand strategist and has entered into a multiyear partnership with the firm, CNBC reported. Jay-Z said in the release announcing the partnership, according to the outlet, “Anything I do, I want to do correctly and at the highest level.

National Retail Federation Projects Halloween Spending Will Hit $9B

PYMNTS

billion in Halloween spending, the National Retail Federation ’s (NRF’s) annual survey projects spending for the occasion will reach $9 billion this year. Retail Consumer Spending Halloween Millennials National Retail Federation News survey What's HotJust under last year’s record $9.1 In addition, celebrants are expected to spend $86.79 on average this year, which is slightly higher than $86.13 last year, the federation said in an announcement.

Citigroup Eyes Creation Of National Digital Bank

PYMNTS

Citigroup is gearing up to launch a digital consumer bank that will be national in scope and will arrive within the next three years. Citing Citigroup Chief Financial Officer (CFO) John Gerspach, Reuters reported the executive said at an investor conference that the financial company is “laying the groundwork for having a national digital bank.

National Australia Bank backs UK property finance platform LendInvest

The Paypers

(The Paypers) National Australia Bank (NAB) has backed UK online property finance platform LendInvest with a GBP 200 million (EUR 215.8 million) investment