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.

America: a nation living in the 20th Century

Chris Skinner

These days, in … The post America: a nation living in the 20th Century appeared first on Chris Skinner's blog. When did you last write a check (cheque)? When did you last receive one? Although a valid payment mechanism in some countries, it has been phased out in many.

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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.

Amazon Pushes For National Price Gouging Law

PYMNTS

Amazon urged Congress on Wednesday (May 13) to enact legislation to prohibit price gouging during times of national emergency, Reuters reported. Huseman made the case for a measure that would be implemented if a national emergency is declared.

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.

Punjab National Bank Faces Third Major Fraud In As Many Years 

PYMNTS

Punjab National Bank shares fell by nearly 6 percent late Thursday (June 9) after it was defrauded $491 million by one of its customers, The Wall Street Journal reported. Punjab National failed to provide details of the alleged fraud and declined to comment, the Journal reported.

SoFi applies to open a national bank

American Banker

Consumer lending Digital banking ILCs National banks OCC Mortgages Student loans Nonbank Marketplace lending SoFiIf it’s approved, the charter is expected to lower the fintech’s cost of funds and allow for more product offerings.

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.

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.

Fifth Third Bank has applied for a national bank charter

Bank Innovation

Cincinnati-based Fifth Third Bank has applied for a national bank charter as it expands its suite of products and services. A national charter will ensure […].

October 26th – BSA/AML Day | Nationally Recognized

Abrigo

Professionals across the nation encouraged to celebrate National Financial Crime Fighter Day. We started that effort in full-force in 2017, with an idea to create a nationally recognized holiday – BSA/AML Professional Day – to be observed on October 26 th each year. The post October 26th – BSA/AML Day | Nationally Recognized appeared first on Abrigo.

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.

First National Bank of Omaha’s Butterfield to speak at Bank Innovation Build

Bank Innovation

Marc Butterfield, senior vice president of digital and payments solutions at First National Bank of Omaha, will speak at Bank Innovation Build. Bank Innovation Build Carousel Innovation Strategy Retail Banking bill.com First National Bank of Omaha Upstart

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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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Coronavirus Refunds: Washington Nationals Unveil Ticket Reimbursement Procedure

PYMNTS

The Washington Nationals baseball team unveiled its ticket reimbursement policy for contests that the pandemic impacted, The Washington Post reported. But many teams — such as the Nationals — had halted or delayed payments for season tickets.

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.

Payment nationalism is harming innovation

Payments Source

Competition between hundreds of national and global payment systems forces everybody to continually adapt, up their games, culling weaker and underperforming systems and inviting the search for better mouse traps, says Intrepid Ventures' Eric Grover.

Two Chinese Nationals Charged With Laundering $100M In Crypto

PYMNTS

Two Chinese nationals were charged by the U.S. North Korea continues to attack the growing worldwide ecosystem of virtual currency as a means to bypass the sanctions imposed on it by the United States and the United Nations Security Council.

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.

Today In Payments: Marqeta Preps For IPO, Had $4.3B Valuation In May; Punjab National Bank Faces Third Major Fraud

PYMNTS

In today’s top news, Marqeta prepares for an IPO, and Punjab National Bank was defrauded $491 million by one of its customers. Punjab National Bank Faces Third Major Fraud In As Many Years.

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

CEOs Ask Congress For National Privacy Act

PYMNTS

To enable continued innovation and growth in the digital economy, the Business Roundtable is asking Congress to pass a comprehensive consumer data privacy law that establishes a national privacy framework and strengthens protections for consumers.

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.

Live Nation Settles With DOJ Over Ticketmaster Antitrust Violation

PYMNTS

Live Nation Entertainment reached a deal with the government, resolving concerns that the company had violated a 2010 antitrust settlement. Live Nation must notify customers from now on about the clarified and extended terms of the decree.

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.

DOJ Reportedly Readies To Take Action Against Live Nation

PYMNTS

With claims that the company aimed to coerce music venues into using its Ticketmaster subsidiary, the Justice Department is reportedly gearing up to take legal action against Live Nation Entertainment, Inc. Regulation Department of Justice Live Nation News ticket sales Ticketmaster What's Ho

Retailers Expect 26 Pct. Spike On National Returns Day

PYMNTS

As online shopping powers a forecasted 26 percent year-over-year volume surge on National Returns Day, the United Parcel Service (UPS) foresees shipping 1.9 A 2018 report from the Appriss Retail and National Retail Federation noted that roughly 10 percent of products sold in the U.S.

National Bank of Australia to Hire 600 Tech Experts to Compete with Fintech Industry

Bank Innovation

The National Bank of Australia (NAB) will create 600 new technology jobs. Exclusive Mobile Open Fintech Operations Payments Uncategorized data fintech National Bank of Australia Security software engineering

UK?s National Health Service Gave Tech Giants Access To Millions of Britons? Health Records

PYMNTS

The National Health Service (NHS) provided Palantir Technologies with volumes of personal information including contact details, gender, race, occupation, health conditions, criminal offenses and religious and political affiliations, according to the 37-page contract that was published online.

DOJ Claims Live Nation Violated Terms Of Ticketmaster Merger

PYMNTS

With claims that the company aimed to coerce music venues into using its Ticketmaster subsidiary, the Justice Department is reportedly gearing up to take legal action against Live Nation Entertainment, Inc. Regulation Department of Justice Live Nation News ticket sales Ticketmaster What's Ho

The Commerce Magic Of National Dog Day

PYMNTS

National Chocolate Chip Cookie Day (Aug. 4), National Chocolate Day (Oct. 28), National Avocado Day (July 31), National Ice Cream Day (July 21) and so on. Holidays like National Dog Day. Fear not – the options abound on National Dog Appreciation Day.

Wells Fargo To Settle Navajo Nation Lawsuit For $6.5M

PYMNTS

The Navajo Nation announced that it has settled its lawsuit against Wells Fargo & Co for $6.5 The Navajo Nation sued Wells Fargo in federal and tribal courts in 2017, claiming it targeted tribal members with “predatory sales tactics.”

Will an OCC, FDIC Charter Help Varo Money Become the First National Mobile Bank?

Bank Innovation

Want a national bank that’s mobile-only? So does Varo Money.

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Mastercard CEO Pushes Back Against National Payments System

PYMNTS

Ajay Banga, the chief executive officer (CEO) of Mastercard, is adamantly against any attempts to fracture the Global Payments Systems (GPS) into national domains, Financial Times (FT) reported on Sunday (Feb.

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