Deluxe Isn’t Just Paper Checks Any Longer
#Paper #checks account for less than 38% at #Deluxe which over the last decade has diversified into payments, cloud services and promotional products.
Financial Technology
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Real-Time Payments Aren’t Just Faster, They Are Change Agents
Real-time #payments may finally reduce the business use of checks, and #they will cut manual processing for reconciliation.
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Banks Are Just Beginning to Understand the Power (and Limitations) of Artificial Intelligence
Citi Ventures‘s recent investment in Anaconda, an Austin, Texas-based AI and machine learning (ML) software company, shows the industry’s commitment to staying at the forefront of this growing and developing field. AI has certainly generated a lot of chatter and buzz in the financial world, but #banks are still challenged to implement it properly. Citi […]
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How TBC Bank Created a Neobank Called ‘Space’ in Just 8 Months
For a digital #bank, time to market is one of the most important innovation mandates. For Lasha Gurgenidze at Tbilisi, Georgia-based TBC Bank, this mandate combined with low operational costs were the two fundamentals he and his team followed in launching TBC’s digital-first #Space #Neobank. “We started only eights month ago,” Gurgenidze, who is currently […]
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IBM and Crédit Mutuel Demonstrate AI Can Help Bank Employees, Not Just Customers
Many #banks have started using artificial intelligence to enhance customer service, whether through chatbots, customer acquisition or money management capabilities. However, when it comes to using AI in the backend of banking, those capabilities remains relatively unexplored, except for the most common use cases such as security, AML, KYC or fraud. One area where AI […]
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RBS Uses Analytics To Make Customer Service More Than Just A Slogan
RBS #uses data #analytics to develop a Net Promoter Systems — shades of Vernon Hill of Commerce Bank and Metro Bank fame! They seem to have messaging right since customers are accepting their messages on mobiles.
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Amazon Prime Day Sees ‘Record’ Shopping (Just Don’t Compare to Alibaba’s Singles’ Day)
Who sold it better — Alibaba, during 2016 Singles’ Day or #Amazon, during today’s #Prime Day? With respect to Amazon’s ‘#record levels’ of shoppers today, according to company statements, #Alibaba’s Singles&8217; Day is probably going to stay on top — despite Amazon shoppers acting like this, at least according to Twitter: Actual footage of how […]
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Just One Third of OnDeck Borrowers Need Human Intervention
Machine learning and artificial intelligence have made waves in the lending space recently, but #human underwriters are by far not out of the picture. That’s according to #OnDeck’s Chief Financial Officer Howard Katzenberg. “What we want to do is be great at both the algorithmic and analytic part, as well as [maintain] a human element,” […]
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Don’t Count Incumbents Out of the Innovation Race Just Yet
#Innovation is a young company’s game, right? Well, not according to the #incumbents. Established financial players are aware of the need for a “digital rebirth,” according to Kathleen Murphy, president for personal investing at Fidelity Investments. “We invest a lot in #fintech, in startups of varying sizes, to help spur innovation,” said Murphy, during a fireside chat […]
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Amazon Cash: Just Like a Gift Card, But Mobile
#Amazon announced its new Amazon #Cash offering this morning, alongside a list of participating retailers which thus far include CVS pharmacy and Speedway. However, Amazon Cash seems to be less of a #mobile wallet, and more of an alternative payment method for consumers, who lack traditional ways to pay. Unlike Square or PayPal or Apple versions, […]
Bank Innovation
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