In a landscape that’s fast evolving to match the needs of tech-savvy customers, credit unions are innovating to compete with larger commercial banks and FinTech firms to attract and retain customers. MORE

CFOs are struggling to keep up with how quickly the requirements for financial reporting are changing, researchers have found. EY researchers released new data this week that concluded CFOs and financial controllers are struggling to keep up with the pace of change when it comes to corporate reporting standards and demands. “Until reporting catches up with technological advancements, it will continue to be compromised.” MORE

Investors, by and large, acted the way one might expect amid a jobs report that came in above expectations. Reuters noted Friday (June 1) that the jobs report helped cement expectations of another rate hike by the Federal Reserve — one that could come as early as this month. With the latest report, the unemployment rate stood at 3.8 May’s report marked the 92nd-straight month that jobs have grown in the U.S. Equities were up. Bonds were down. MORE

Well, HBO’s John Oliver, who kicked off his segment about credit reporting agencies with that simple reminder dug into the industry to show why that vision has gotten skewed in recent years. One in four had an error, he noted, and 20 percent of reports ran were wrong. MORE

Zero FIs have reported an increase in fraud due to SDA products. For all the latest findings, analysis and trends, please download the report by clicking the button below. About the Report. MORE

Krebs on Security reported that the hotel properties may be “dealing with another breach of its credit card systems,” citing banking industry sources. As was reported last summer, a series of banks suspected a breach occurred at a number of Trump properties; it was later confirmed in Oct. MORE

In the latest PYMNTS.com Omni Usage Report, a Vantiv collaboration, PYMNTS explores new technology, tools and solutions debuted by retailers and merchants designed to make shopping a little simpler. . MORE

That’s according to a new report out this week. . Which is why this report may seem like a no-brainer, but the important part is the impressive data. The new report covers the present situation compared to the potential growth of the IoT, taking into consideration the market size, as well as applications and services. Internet of Things america APAC EMEA IoT report TrackerFrom now until 2020, the global Internet of Things is expected to grow at a CAGR of 36 percent. MORE

The report highlights key trends in internet and mobile banking usage based on May 2017 data for more than 435 banks and credit unions, covering 13.9 But the report finds that internet banking is still critically important, with 75 percent active usage. Banking Internet banking Malauzai Software mobile mobile banking News report What's Hot MORE

The report examines flexible workforce tools, and how they are working to streamline workforce tracking and reduce reliance on expense reports, paper checks and cash. MORE

Introducing the brand-new Global Payments Architecture Report, a bi-monthly publication that delves into the latest developments transforming the education, healthcare, import/export and other B2B markets. About the Report . Many U.S. MORE

The restaurant reported earnings of $1.34 tax benefit, just above estimates of $1.33, Bloomberg reported. Retail chipotle Chipotle Earnings Chipotle Stocks Chipotle Value earnings Earnings Report News Q4 What's HotQuick-service restaurant (QSR) Chipotle Mexican Grill slightly beat fourth-quarter earnings estimates, helped by higher menu prices and despite declining foot traffic. per share, excluding its $0.21 MORE

The world might soon find out, according to a report Friday (June 1) in The Wall Street Journal ( WSJ ). Last year, Apple earned $1 billion from the sale of “promotional ads on search terms in its App Store,” the paper reported. Were Apple to get further into mobile ads, it would come as spending on that form of marketing is set to surpass TV advertising, according to a recent eMarketer report. percent of all digital advertising,” the report said. MORE

The need for faster payments is transcending borders, with FIs in several major global regions making efforts to expand local access to speedier payments. These innovations not only promise to improve payment speed, but to also accelerate financial access and empowerment in different markets. . MORE

What’s more, according to a report on eatery tech usage from Technomic, it seems consumers are particularly eager for technology in their restaurants. American consumers have shown they’re hungry for new payment options. . MORE

I just got a report from J Walter Thompson on the future of money and there’s some interesting facts and stats. Here are my headlines: 76% of millennials are looking for new forms of banking 40% of people in their twenties have downloaded a money management app 80% of millennials … The post The future of money (research report) appeared first on Chris Skinner's blog. MORE

After a European Union report gave Alphabet a “negative result” and fine of up to $11 billion for abusing its power through its Android operating system, shares of the company fell by under 1 percent as reported on Wednesday (June 6). A ruling on the matter could come from the EU’s antitrust head, Margrethe Vestager, in a matter of weeks, CNBC reported. s Telegraph, reported Vestager said the ability to break up Google has to remain a real threat. MORE

In the first Consumer Financial Protection Bureau (CFPB) semi-annual report issued under acting director Mick Mulvaney’s watch, the newly installed agency head stated the CFPB is “all too powerful.”. The Dodd-Frank Act , wrote Mulvaney in the introduction to the report, pointing toward the structure of the CFPB itself. Mulvaney’s third recommendation, according to the report, “is to ensure that the director answers to the president in the exercise of executive authority.”. MORE

The pair produced a 53-page report on shopping habits recently, stating that the wealthiest shoppers — across the globe — are more so keeping an eye on their wallets by being thrifty. PYMNTS recently reported that Pernod Ricard , the maker of spirits and alcohol, is launching “Discover the House,” an online platform targeted at high-net worth individuals. Retail Bain Burberry high-end Luxury luxury sales report MORE

The credit union (CU) market has long argued that rules intended for larger, more traditional banks have unjustly been applied to their industry, stifling their growth and pace of innovation. MORE

Sustainability, as it turns out, is power. And thanks to new banking solutions, consumers are gaining new insights into their spending habits and how their daily decisions can make an impact on social and environmental issues near and dear to their hearts. MORE

In fact, a recent report found 75 percent of surveyed merchants had walked away from a cross-border business opportunity due to fear of non-payment from a global trading partner. For a roundup of the latest notable news and trends in the cross-border receivables space, check out the report. MORE

Reuters reported that the theft stands among the largest in the country’s nascent cryptocurrency arena and might have the impact of dampening trading activity. In the past, Reuters reported that India’s government has said crypto-trading is on par with high-return — and high-risk — Ponzi schemes. That was lower than the international market price of $7,771, reported the newswire. MORE

An annual report by RSA shows how consumers perceive the security of their digital experience, where those perceptions are well (or poorly) founded and how organizations can capitalize on opportunities to distinguish themselves in the market by providing stellar security. The 2017 report is now available. The recent report offers a map of opportunities for businesses to differentiate themselves in the market. MORE

That’s according to the Sage Payments Landscape report on U.S. Sage, which is a market leader for integrated accounting, payroll and payments software, released the results of the sixth annual report focused on the current and future payment trends. The report addresses drivers for innovation, the need for omnichannel retailing, as well as payment security and consumer trust. Sage’s new report polled both U.S. Cash Index report Sage SMB SMBs study What's Hot MORE

This finding was reported in a recent survey from human resources management solutions provider ADP, and indicates how younger workers could impact payment trends in the coming years. It’s easy for consumers to buy just about anything online these days. MORE

The Federal Trade Commission testified on Thursday (July 12) that enforcement of the Fair Credit Reporting Act (FCRA) remains a top priority. She noted that FTC has brought more than 30 actions to enforce the FCRA against consumer reporting agencies, users of consumer reports, and furnishers of information to consumer reporting agencies. Regulation consumer protection data security Fair Credit Reporting Act FTC Maneesha Mithal News Senate Banking Committee What's Hot MORE

Unlike most reported estimates of cash, our proprietary data analysis focuses on the use of cash for making payments rather than hoarding. MORE

After Apple’s so-so earnings report last quarter , the tech giant is looking to certain products to sell this quarter. Consumer Reports, the authoritative product review magazine, released its review on the MacBook Pro, saying it not only “can’t recommend” the product, but also headlined the report with a failure to earn the publication’s recommendation. But the reason Consumer Reports won’t endorse the product is the battery life, which it calls “highly inconsistent.” MORE

Thirty years later, I find their tagline a rather fitting metaphor for the Equifax data breach and the flurry of headlines made by everyone who now wants to take them — and their two credit reporting agency compadres, Experian and TransUnion — out to the regulatory woodshed. The credit bureaus were included in the CFPB’s scope of oversight in 2012, and she’s asked the agency to let her know what additional power it might need to better regulate the credit reporting agencies going forward. MORE

Investors cheered the jobs report Friday, sending the Dow Jones Industrial Average up more than 250 points intraday and the tech-heavy NASDAQ to a new high. As reported by CNBC.com, the NASDAQ gained more than 1 percent on the day to ease losses seen over the past month. CNBC also reported that the bull market had notched its ninth anniversary, with the S&P up 300 percent since Mar. MORE

The latest PYMNTS.com X-Border Receivables Report , powered by Flywire , looks at new developments in the global commerce world that are working to help trading partners improve their relationships by exchanging funds more quickly. To read the full story, check out this month’s report. MORE

According to Kurt Rathmann, CEO and founder of SMB accounting firm ScaleFactor , the month-end close may be the traditional way of doing things, but it forces small business owners to examine data that, by the time a financial report is completed, is too old to be of much use. In today’s fast-paced business environment, the mad dash at the end of every month to close the books is hardly beneficial to today’s entrepreneur – or her accountant. MORE

The latest edition of the Omni Developer Report highlights the solution providers and retailers from around the space that are looking to introduce mobile commerce solutions to quickly capture consumer dollars, and loyalty. To read the full story, download the report above. MORE

Good news is ahead for those suffering from low FICO scores — according to reports this morning, civil judgements and tax liens will by and large be coming off of consumer credit reports. The move comes after years of critiques of the credit agencies for reporting information falsely that has a negative effect on consumer credit. The change will apply to new tax lien and civil judgment data that are added to credit reports as well as existing data on the reports. MORE

In the March X-Border Receivables Report, PYMNTS looks at how companies are launching a variety of new services aimed at improving the flow of payments in several different markets — and how blockchain-based solutions are gaining prominence as a viable cross-border payment solution. MORE

That’s according to Capgemini and BNP Paribas, which recently released new research through the 2016 World Payments Report (WPR). Paris-headquarterd Capgemini, a consulting and technology firm, has headlined the report for the past 12 years. The report specifically highlighted the growth in the developing markets, which have the highest rate of increased change — 16.7 Global digital payment volume is slated to hit a new high this year of 426.3 billion transactions. MORE

The first thing any investment company must do in response to the new SEC Investment Company Reporting Modernization is evaluate its current state of readiness. Longer-term measures may be necessary to shore up existing data and reporting platforms and calculation engines. The outcome of these measures would be quicker turnaround with reduced manual intervention, and greater confidence in the reports’ accuracy. MORE

In a new guide, we discuss the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions. The SEC wants to improve: The quality of information that funds report to the Commission. Ease of access, aggregation, and analysis of the reported data by the Commission and the public. Form N-CEN: Requires investment companies to report census-type information annually in a structured data format. MORE

Private sector employment jumped by 178,000 jobs from April to May, according to the May ADP National Employment Report. The report comes as at least one industry is having a tough time finding workers. will need 898,000 additional drivers over the next 10 years to meet future demand, CNBC reported. Retail ADP job growth jobs report labor market News truck drivers trucking industry What's Hot MORE

Financial Reporting Council’s Financial Reporting Lab has released a new report on the potential applications of blockchain in the corporate accounting space. According to reports, the group is taking a cautious approach to the technology. Reports in Out-Law on Friday (June 29) said that the Lab’s analysis, intended as an exploration of blockchain’s role in corporate accounting, does show promise in some scenarios. The U.K. MORE

In a new guide , we discuss the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions. By now, you should have a program in place that covers the following work streams: Engage Report Filing Provider: Initiate a project with the selected service provider to collect and process data, and file the required forms. MORE

In a new guide, we discuss the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions. Data Governance: Data dictionary, lineage, and stewardship processes must be established for required data elements used in the new reports, as well as demonstrated to the SEC, if required. MORE